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- Wait for confirmations. It’s usually most excellent to wait for breakouts / breakdowns confirmation before taking action. In the case of the valuable metals market, based on our experience, it’s worth waiting for three consecutive closing prices below / above the critical cost level before viewing the breakout / breakdown as “confirmed” and thus meaningful. Invalidation of a breakout is a bearish sign and invalidation of a breakdown is a bullish sign.
- Analyze ratio. Of course, not just any ratios – the ratios that have proven to offer important signals for gold (like the gold stocks to gold ratio or – they both have a history of important gold, but this has not been the case during the post-2011 decline), that are important due to fundamental factors (gold vs. bonds ratio – both can be seen as safe-haven assets and major bottoms and tops in this ratio take place along with major tops and bottoms in gold, so it can be used as a confirmation) or because they are often discussed (). Sometimes ratios can be utilized to see amazing from a non-USD perspective (Gold Silver Updates to UDN ratio is the weighted average of gold priced in currency other than the US dollar, with weights as in the USD Index – this ratio can be used to confirm major moves in gold or suggest that these moves are just temporary as they are only visible from the USD perspective).
- Analyze other time-frames than the one that you’re focus on. Even if you are placing a short-term trade, be sure to check the medium- and long-term trend. Usually, the longer the time frame, the stronger the support and argument levels, so even if you analyzed the short-term picture, it can be the case that a given move will be stopped by a medium- or long-term resistance. If you’re focusing on the medium- or long-term trades, the short-term picture can help you fine-tune the moment of entering or exiting the market.
- Be on the regular lookout for anomaly. When you see something odd, examine and find the reason behind it and check if anything similar happened before – if yes, check what happened next. If similar things were always followed by the same kind of price pattern in gold, silver and/or mining MCX Bullion, it might be a good plan to trade it. If not, then perhaps the reason behind the anomaly resulted in something else that had a more correct achieve on the valuable metals cost.
- Monitor investor sentiment. If the huge majority (!) of costly metals investors and traders are confident, then gold is likely close to a top (in this case it makes sense to look for selling signals and / or confirmations that the top is in and – if they are current – exit long positions and / or go into short ones).Conversely, if everyone and their brother are bearish on the market, then a base is very probable close to being in or already in. The ways to approximation feeling include checking how often people look for gold-related terms (like “gold mcx”) in, monitoring outcomes of surveys with questions like “where will gold cost be in 3 months” and similar query, and also checking the traffic of gold-related websites on. On a side note when you see that a sure, big gold-related website is very slow or crash after a big move up or down, then it likely income that the traffic in gold was huge, which is one more way of sense that a major cost immense is well-nigh (we saw that in 2011 when gold top).
- Even if your main approach is to trade gold, we still promote you to consider dedicating a part of the capital to long-term investments – it should lower the overall unpredictability of your income and making gains more stable. There are also other profit that we outlined in our very. Before you make a decision to follow a given, be sure to check how long they have been in the business and if they are known for their good presentation.
- If you do make a decision to follow someone, it’s usually a good idea to stay with them even if they happen to be incorrect about the market one or even a few times in a row as markets are sometimes moving almost randomly (they are emotional, not logical in the short term) and everyone has to be incorrect finally (that doesn’t necessarily imply following what they do using your capital – it means monitoring their performance to see for yourself if they can grow your wealth over time).
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