News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
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US Bans American Banks from Purchasing Russian Sovereign Debt
US Bans American Banks from Purchasing Russian Sovereign Debt
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Strategy

A Decent Risk/Reward Trade

Gold is starting to show some mettle here at $1528.00 and its time to put some length on if the conditions are met.

Not too much, just a decent spec. Gold has the headwind of a strong dollar, but something like $1 trillion in government stimulus spending at its back.

Let's take a long position with a stop if we close below $1500.

Trading is about risk/reward. This is a decent set-up.

If we can get over the Power Down Trend at $1548.50 on the COMEX close.

power down trend needs to be challenged first

That is the plan...now we trade it if we get it.

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