There’s still plenty of room to go long on gold near the bottom!
A few days ago, I went long on gold at 3912. Today, after it broke through 4080, I went long again.
Gold is now at 4145.
The entry points for these two trades were different, but the logic behind going long hasn’t changed.
From a macro perspective, gold has been the king of safe havens for thousands of years, and there’s never been a shortage of reasons to own it. With the U.S. midterm elections and a transfer of power coming up, gold is the best choice for investors.
Macro factors can only tell you why gold is worth going long on. Whether you make money depends on your entry point—and that’s where technical skill comes in.
Technically speaking, Uncle Kong is still damn good at this. His levels are spot-on.
Daring to go long at 3912, then to keep following through after the breakout at 4080—that takes more than just guts. It takes a clear read on the market structure.
A few days ago, I went long on gold at 3912. Today, after it broke through 4080, I went long again.
Gold is now at 4145.
The entry points for these two trades were different, but the logic behind going long hasn’t changed.
From a macro perspective, gold has been the king of safe havens for thousands of years, and there’s never been a shortage of reasons to own it. With the U.S. midterm elections and a transfer of power coming up, gold is the best choice for investors.
Macro factors can only tell you why gold is worth going long on. Whether you make money depends on your entry point—and that’s where technical skill comes in.
Technically speaking, Uncle Kong is still damn good at this. His levels are spot-on.
Daring to go long at 3912, then to keep following through after the breakout at 4080—that takes more than just guts. It takes a clear read on the market structure.
