Gold when markets entered risk-off
Aktualisiert
Hi Guys,
On Feb 20 markets started to go down due to COVID19.
Here I posted some daily screenshots of: SPX, DOW, NASDAQ, DAX, CAC, FTMIB, FTSE, WTI
When economic conditions weaken and risk appetite decline, Gold normaly goes up because it is considered by many a safe haven.
But the move in Gold did not happen right on Feb 20. Instead Gold went down to find support on the 200SMA before starting the run up into April.
To note that RSI is approx to enter above 70 zone which means overbought. However, in the short term, this is a signal of strong bullish momentum IMHO.
There is also to note that the move made by Gold from Mar 20 is very similar to the move made by stock markets on Mar 23 when FED shot their "bazooka". However, whilst what happened from A in stock markets is a "bear rally", what happened in Gold from A is a "bull run".
GOLD BULL RUN
SPX BEAR RALLY
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
On Feb 20 markets started to go down due to COVID19.
Here I posted some daily screenshots of: SPX, DOW, NASDAQ, DAX, CAC, FTMIB, FTSE, WTI
When economic conditions weaken and risk appetite decline, Gold normaly goes up because it is considered by many a safe haven.
But the move in Gold did not happen right on Feb 20. Instead Gold went down to find support on the 200SMA before starting the run up into April.
To note that RSI is approx to enter above 70 zone which means overbought. However, in the short term, this is a signal of strong bullish momentum IMHO.
There is also to note that the move made by Gold from Mar 20 is very similar to the move made by stock markets on Mar 23 when FED shot their "bazooka". However, whilst what happened from A in stock markets is a "bear rally", what happened in Gold from A is a "bull run".
GOLD BULL RUN
SPX BEAR RALLY
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
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