✍️Weekly Trade Plan & Recap 20th - 25th April
Gold - here's why we're NOT expecting a "correction" just yet. Plus analysis for Silver, the Dollar Index, EUR/USD, S&P 500, WTI Oil and Bitcoin.
When financial pundits in the media (and on Twitter) call for a “correction” in a market, that’s a sure sign the market will continue it’s bullish move up.
We are of course talking about Gold…
This newsletter has been bullish Gold and Silver, ever since our first Gold entry at 1863 way back in October 2023.
We continue to hold 10% of that trade, plus scaled trades from 1935, 1969, 1995 and 2561.
Last week, we took a day trade long at 3312, scaled 50% at 3328 and tried to hold for continuation. However, the remainder of the trade was taken out at breakeven.
Although that was a little disappointing, we have to thank the market for giving us another heads-up.
How is that so?
Well, look at the fake-out of the Bull Channel on this 15 minute chart and how the channel has now been reclaimed. We’ve seen this so many times before and often before a big move!
Therefore, next week, we’ll be looking for a break and hold above the channel top, to get long on a retest.
Next up, for members, will look at further analysis for Gold, Silver, the Dollar Index, EUR/USD, S&P 500, WTI Oil and Bitcoin.