Ticker tape by TradingView

January 19, 2022

Read This Now Before You Buy Gold

Frank Cabibi

Gold flies higher today amid inflation concerns in the US and globally. Even as treasury yields hit a 2-year high, the metal jumped above a key resistance level and is looking to test another.

Gold Outlook

Although we are seeing considerably high gains for gold in the short term, it still seems unlikely that the metal will go back to the $1,900-2,000 mark because of the bond yields moving higher and USD gaining strength.

We are also looking at what could be a potential spike in retail demand which never bodes well up against major institutions who seems to be selling gold.

Thus, this recent spike could be serving as a trap to retail investors, so be careful when trading this pair as we could see big money closing positions after catching a one-and-a-half percent gain on gold.

Gold
Gold finally makes a big move on the 1D chart after inflation concerns rock the dollar today. A break above the $1830s mark could signify a larger move to the top of the wedge pattern which could lead to a breakout in the short term

In the bigger picture, gold looks like it could be a solid trade in the short term for those trying to find bullish setups. However, this move doesn't seem like it will last for very long considering the other factors going on with the USD and treasury yields. The safer, more lucrative bet in the longer term would be on a dollar that yields more interest over time.

We're looking at a stronger bullion in the short term, but coming March- or the weeks leading up to the March meeting- we may not see this rally last. If inflation is the factor pushing gold upward, interest rate talks will most likely send it back down again.

A1 Edgefinder

Try for FREE!
or get 20% off the full version using code "READER"
GET FREE VERSION

want to see what we're trading?

Join The VIP Community!
Our entries, exits & analysis
Live Webinar Coaching
Trading Chatrooms
Strategy Library 
Exclusive Trading Guides
Use Code "READER" for 10% OFF!
JOIN NOWJoin FREE Discord
What IPEF Could Mean for US Markets

On Monday, May 23rd, US President Joe Biden unveiled a new trade pact with twelve Indo-Pacific countries called the Indo-Pacific Economic Framework (IPEF). The launching of this deal, coupled with Monday’s news that the Biden administration is considering the merits of rolling back tariffs on imports from China, saw the Dow close nearly 500 points […]

Read More
Breaking Down The SPX500 Trade

This week, I took a trade on the SPX500 that ended up being a successful one by the time it closed. We caught a 29 point move when it was all said and done, and here is the breakdown behind it. Reasons For Buying SPX500 On May 23, I sent out an alert to the […]

Read More
Why Euro Is The Biggest Winner This Week

One of the forex market's worst performers this year now has the potential to become one of the best plays in 2022. On the day, euro is up and is performing stronger against the USD than any other currency as of now. EUR/USD is up 0.36% today. Euro To "Positive Territory At The End Of […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
homescreensmartphone linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram