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I believe a dip in Gold will come [USER=3610]@Sean K[/USER] . I had a post prepared for the "Gold Heading" thread but they are talking pure shite over there recently so I'll post my thoughts here. And it will be a good chance should it happen for you to add more PMGOLD imo. I'll get it from my Notes.

I believe it is important to look at the worst case scenario when you hold large any asset in good profit and in my case Gold is that, even bigger than NVDA back in 2023 when I was fortunate enough to start investing in semis on the NASDAQ. So, I guess a retracement would be that, would be a bad scenario for me. I took profits when the November Trump effect hit and everyone thought BTC was headed for $200,000 and replace Gold as a store of value backed by the US Treasury. So I have since re-entered in Dec/Jan and it won't take as much for me to start squealing if Gold falls back.

I did a fair bit of TA on it using PMGOLD on Commsec charts which follows Spot Gold as good as you'll get without spending money on sophisticated software. I wasn't going to post the PMGOLD charts as they are only understandable to me, full of lines and SMA's (simple moving averages), but instead here is the kitco.com chart for the past year from tradingview. As usual with charts the further you stand back the more obvious it seems. So here is the $USD chart for the last 12 mo.

[ATTACH=full]195944[/ATTACH]

It should be obvious that Spot Gold is in a channel , at the top, with the lower line going from July 2024 up through and touching the Trump pullback There is a parallel line going from the October high to now. It is more obvious on the PMGOLD chart. The support line also hugs the 50d SMA line. My projection is that Gold will fall to $USD 2800 or $2600 on a worst case scenario. I may add at both points should it occur. Oh bugger it, I'll put in the PMGOLD chart less many lines. The RSI which is diverging from price shows v.much oversold and may turn down further with the price. So I'm not buying Gold atm, PMGOLD is $48 and I'm looking to add at $40. Then we'll see a proper W3 hopefully.

Accuse me of line fitting all you like. I'm happy.

[ATTACH=full]195943[/ATTACH]

gg

<blockquote data-quote="Garpal Gumnut" data-source="post: 1322415" data-attributes="member: 2555">I believe a dip in Gold will come [USER=3610]@Sean K[/USER] . I had a post prepared for the &quot;Gold Heading&quot; thread but they are talking pure shite over there recently so I&#039;ll post my thoughts here. And it will be a good chance should it happen for you to add more PMGOLD imo.&nbsp; I&#039;ll get it from my Notes. I believe it is important to look at the worst case scenario when you hold large any asset in good profit and in my case Gold is that, even bigger than NVDA back in 2023 when I was fortunate enough to start investing in semis on the NASDAQ. So, I guess a retracement would be that, would be a bad scenario for me. I took profits when the November Trump effect hit and everyone thought BTC was headed for $200,000 and replace Gold as a store of value backed by the US Treasury. So I have since re-entered in Dec/Jan and it won&#039;t take as much for me to start squealing if Gold falls back. I did a fair bit of TA on it using PMGOLD on Commsec charts which follows Spot Gold as good as you&#039;ll get without spending money on sophisticated software. I wasn&#039;t going to post the PMGOLD charts as they are only understandable to me, full of lines and SMA&#039;s (simple moving averages), but instead here is the kitco.com chart for the past year from tradingview. As usual with charts the further you stand back the more obvious it seems. So here is the $USD chart for the last 12 mo.[ATTACH=full]195944[/ATTACH]It should be obvious that Spot Gold is in a channel , at the top, with the lower line going from July 2024 up through and touching the Trump pullback There is a parallel line going from the October high to now. It is more obvious on the PMGOLD chart. The support line also hugs the 50d SMA line. My projection is that Gold will fall to $USD 2800 or $2600 on a worst case scenario. I may add at both points should it occur. Oh bugger it, I&#039;ll put in the PMGOLD chart less many lines. The RSI which is diverging from price shows v.much oversold and may turn down further with the price. So I&#039;m not buying Gold atm, PMGOLD is $48 and I&#039;m looking to add at $40. Then we&#039;ll see a proper W3 hopefully.Accuse me of line fitting all you like. I&#039;m happy. [ATTACH=full]195943[/ATTACH]gg</blockquote>

[QUOTE="Garpal Gumnut, post: 1322415, member: 2555"] I believe a dip in Gold will come [USER=3610]@Sean K[/USER] . I had a post prepared for the "Gold Heading" thread but they are talking pure shite over there recently so I'll post my thoughts here. And it will be a good chance should it happen for you to add more PMGOLD imo. I'll get it from my Notes. I believe it is important to look at the worst case scenario when you hold large any asset in good profit and in my case Gold is that, even bigger than NVDA back in 2023 when I was fortunate enough to start investing in semis on the NASDAQ. So, I guess a retracement would be that, would be a bad scenario for me. I took profits when the November Trump effect hit and everyone thought BTC was headed for $200,000 and replace Gold as a store of value backed by the US Treasury. So I have since re-entered in Dec/Jan and it won't take as much for me to start squealing if Gold falls back. I did a fair bit of TA on it using PMGOLD on Commsec charts which follows Spot Gold as good as you'll get without spending money on sophisticated software. I wasn't going to post the PMGOLD charts as they are only understandable to me, full of lines and SMA's (simple moving averages), but instead here is the kitco.com chart for the past year from tradingview. As usual with charts the further you stand back the more obvious it seems. So here is the $USD chart for the last 12 mo. [ATTACH type="full" width="771px"]195944[/ATTACH] It should be obvious that Spot Gold is in a channel , at the top, with the lower line going from July 2024 up through and touching the Trump pullback There is a parallel line going from the October high to now. It is more obvious on the PMGOLD chart. The support line also hugs the 50d SMA line. My projection is that Gold will fall to $USD 2800 or $2600 on a worst case scenario. I may add at both points should it occur. Oh bugger it, I'll put in the PMGOLD chart less many lines. The RSI which is diverging from price shows v.much oversold and may turn down further with the price. So I'm not buying Gold atm, PMGOLD is $48 and I'm looking to add at $40. Then we'll see a proper W3 hopefully. Accuse me of line fitting all you like. I'm happy. [ATTACH type="full" width="834px"]195943[/ATTACH] gg [/QUOTE]

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