Today we will be looking at the Gold, Silver and Oil sectors as we feel that the market is in a "sit on the sidelines and wait for more evidence" phase.
The trading channel we have been focusing on in the videos for the last few weeks gives you a clear idea of what you should be identifying in your own trading methodologies.
If you have not already implemented these in your trading strategies then these videos should make you realise how powerful they truly are.
The over head resistance of the upper trendline has been encapsulating the SP-500 price action on the 60 min trading channel for a few days now and the statistical evidence of it retesting the lower trendline that Philip talks about is evident and not magical hindsight BS that other paid 'education' programmes offer you. Watch previous videos if this does not make sense.
Technical Analysis of Gold, Silver, Oil video
We have been heavily invested in Gold and Silver long term for some time now. The precious metal sector has been extremely profitable for us personally and we have watched this sector with sniper precision. But as mentioned in the video the 60 min chart analysis is used for trading only and does not change our long term view. It is important to be able to distinguish the two time frames. It takes a strong mental mindset to be able to short a market on lower time frame while being bullish in the same market long term e.g. investment.
If you have any questions relating to this Market Update or wish for us to talk about a trading subject that you're interested in, please don't hesitate to contact us.