News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
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Gold Makes Its Run to $2,000 an ounce...Target in Sight
Gold Makes Its Run to $2,000 an ounce...Target in Sight
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CME Raises Silver Margins by 12.5%
CME Raises Silver Margins by 12.5%
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United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
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First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
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Central Bank Net Gold Purchases Totalled 39.8 tonnes in May - WGC
Central Bank Net Gold Purchases Totalled 39.8 tonnes in May - WGC
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Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
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Bank of Japan to Loan $1 Trillion into Economy
Bank of Japan to Loan $1 Trillion into Economy
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*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Opening

If it Itches...Scratch It !

April 22, 2020 - (Gold Market Wire) - As followers of this site know, trading is about not letting ego get in the way of your decisions. "Marrying the Trade" is one of the worst situations to get yourself involved in, as those who bought and held Gold in the 2011-2018 learned all too well.

This morning Gold is meandering and looking for direction. It remains outside our channel, but is finding a small bid, in an uninteresting environment.

still directionless..and messy

No doubt, yesterday's action could have produced a temporary bottom, but that doesn't mean the set-up looks like Gold just yet. Firstly, we will need to get back in the channel. But if short positions are starting to become a concern, the best course of action is always to scratch them, or cut them, and wait for the market to settle.

Markets don't reward heroic behaviour, as everyone has recently learned from equities to oil. The downtrend line has been breached, albeit inter-day, and on light volume. No real place to establish a new long just yet.

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