Gold Market Wire
News, analysis and commentary for gold traders and investors
Our Old Friend $1595
April 1, 2020 - (Gold Market Wire) - Like a house guest that keeps on dropping by, $1595 is back again. Gold pivots around this number now, so it looks like an inflection point, though unclear which way, just now.
In a way its unsurprising that we bounced and landed here. The market is searching for its next move, and so it has gone back to "home base" to figure out which direction to take.
We got out of our short prior to the move back up, which certainly shows the role of execution in this market. He who hesitates throws money away. In Gold trading, you have to have a steady trigger finger. Hesitation is a death sentence. Sure a core position in gold is needed, but when you trade it's a very different game to just holding on and expecting to make money. If you use Gold for insurance its a solid move. But if your trade, you need to be nimble...without tying yourself up in self-contradictory gyrations.
Run profits / Cut Losses. The old adages stick around because they are so pertinent.