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RE: Revealing my secret of trading for your benefit
30 days. Interesting. Andrew Maguire mentioned something happening in around 20-30 days from now that would change the gold market. Do you have any thoughts on the catalyst?
I had written a blog earlier. More update on that is that Qatar (and some other middle east countries) will be buying massive chunk of gold bullion to save from their currencies from total collapse. Destroying the currency is an age old game that we play and countries are now realizing this and playing accordingly. We tried that with Russian Rouble and failed because they had gotten it protected with gold. Just my theory though. Another theory which I am still verifying is that dollar is on a decline fast so how do countries dump dollar without getting noticed - buy gold with dollar.
Perhaps those of us who have long invested in gold stocks are about to have our day.
Did you see my post regarding the 6 year down trend?
https://steemit.com/gold/@unclehermit/does-the-break-out-in-gold-signify-the-end-of-the-dollar
It certainly feels like we are getting to the point that gold needs to make a decision.
Great analysis by the way.
Yes, I did read it and I too had written the blog and predicted that the smashdown will happen to get the price below the trendline and it did by 20 $! Advantage of these trendline is that sooner or later without any movement in price because of time dimensions the price eventually will go above the line. Gold and silver are a long term investment. I think 2020/2022 is the time frame when you can buy a house with a single gold coin. But much pain before that.