LONG TERM TREND                            BEARISH
INTERMEDIATE TERM TREND              BEARISH
SHORT TERM TREND                          NEUTRAL/BULLISH
VERY SHORT TERM TREND                  BEARISH
 
After plunging over $200 following the election of President Trump (yes that's a real thing!), gold has rebounded powerfully in 2017 in a very similar way to January 2016.

Since making a low at 1122 at the end of December, gold has move as high as 1220, breaking above 20 and 50 day Moving Averages, however we remain well below the longer term and closely watched 200 day Moving Average, currently at 1265.

Gold has since started a retracement of the January rally, falling for the past three days and currently trading around 1187 – below the key 1200 level and close to a 38.2% retracement of the 2017 rally.

Until gold can break the long term down trend line, last tested after the US election result and unbroken for 6 years, we remain bearish for gold in the intermediate and long term timeframes.  This line is currently at 1317 and moving slowly lower.
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Oil remains strong, having rebounded strongly from the 206 lows below $30 a barrel to trade well above $50 a barrel since the end of November 2016 and equity markets remain very strong with the Dow yesterday breaking above the key 20,000 level.  This is particularly bearish for gold, which has moved inversely to equities for the last year or so.

Support can be found at 1183, 1177, 1172, 1160, 1145, 1122, 1100, 1072 and 1045.  The recent sell off and rejection of the long term down trend line is very bearish for gold and suggests a move towards the 2016 lows is likely.

Resistance can be found at 1191, 1195, 1200, 1208, 1220, 1230, 1262, 1280, 1300 and 1317.  Gold needs to break the key resistance level at 1317 to give the bulls some momentum and long term control.

We always plan our trades meticulously, only taking positions where the trading set up has a clear risk:reward profile skewed in our favour – our trading videos can help you identify these set ups and take advantage when the market is in your favour!

Everyone loves the thrill of placing a trade and entering the market – many traders tend to overtrade, placing too many trades that haven’t been planned properly just to be “in the game” and part of the action.

It is a scary and sobering stat, supported by academic research, that 95% of “retail traders” (i.e. the small speculators) will lose money trading the financial markets. 

Little wonder then that small speculators are referred to as “dumb money” by investment professionals and monitored as a contrarian indicator for future price direction.

Financial freedom and the lifestyle you dream of can be yours!  This article highlights what we believe to be the top five mistakes that novice traders make that can be avoided and increase your odds of success dramatically.

It is not sufficient to look at a particular market, choose to either buy or sell and cross your fingers hoping for the best.  

You must devote time to study your chosen market, decide whether the prevailing trend is up or down, what timescale this trend is over and where the points of support and resistance are.

You have to plan where you are going to buy or sell, where to place your stop loss and most importantly where to exit the trade.  Then, once the trade is planned and executed, you must show discipline – you made the trade for a good reason with solid justification, so any changes need equally solid justification.

We always plan our trades meticulously, only taking positions where the trading set up has a clear risk:reward profile skewed in our favour – our trading videos can help you identify these set ups and take advantage when the market is in our favour!

There is a tendency to become too emotionally involved with a trade once it has been placed and to want the trade to succeed too much (don’t “fall in love” with a trade!).

Although we have more losing trades than winning ones, our losses are very small and our wins are big – this one difference, is why we are successful traders.  Our system is designed this way...by preempting big reversals we can minimise our loss but maximise our gains.

If you want to share in our success, check out our products and get started on the road to professional trading!

It seems reasonable to buy low and sell high...and it is.  But trying to predict when that bottom has formed with gold can prove costly.  Many rookie traders think they've bought at the bottom only to find gold plunge lower again.  

The same can be true for selling at the top of a rally - but with gold the formation of a "top" tends to be more predictable - our trading system has been built around this and we successfully predict the swing, making large profits as gold quickly collapses down to the next technical support level.

There is a tendency for traders to feel like they should be in a trade - but sometimes you need to sit on your hands and do nothing.  You should only trade when your winning conditions are present - our tutorials explain clearly what these are - as this is what stacks the odds in your favour.  

Trading for the sake of trading is bound to drain your trading fund quickly!  Trade only when your rules for success are met.

Money management is the key to real success – too many traders risk far too much of their trading pot on each trade, looking for the “big win” rather than gradual and controlled growth through smaller more manageable trades

Avoid these mistakes at all costs!!!  To find out more about how we can help you become an expert at trading online, take a look at our products.