Gold Trader: Trade 20 closed on Friday 2nd March at $1,303 for a loss of -2.8%. Gold Trader ended 2017 +12.0% and has returned +0.6% in 2018 YTD.
Gold PowerTrader Trade 20 closed on Friday 2nd March at $1,303 for a loss of -5.6%. Gold PowerTrader ended 2017 +22.3% and has returned +0.8% in 2018 YTD.
I entered Trade 20, a long position in gold, on 31st January at $1,340, on day 33 of DC1, looking to capture what is typically a strong second daily cycle for gold. On average, DC2's for gold rally +7.7% over 15 days before topping out, so I was quite confident this trade would be a winner.
DC1 ran a little long, bottoming on day 39 at $1,319, but once DC2 started, gold accelerated higher, adding 3% over five trading days. Unfortunately, and somewhat uncharacteristically, that was it for this daily cycle. Gold turned sharply lower and actually took out the preceding low for DC1, forcing me to close out the position. Gold should not make new lows once a new investor cycle begins, so I am back to cautious on the precious metal for the remainder of this Investor Cycle. My longer-term view remains unchanged. I am very bullish on the precious metals.
After 20 trades, Gold Trader has returned +17.0% and Gold PowerTrader has returned +17.4%.
For more information on my gold market analysis, please get in touch. You can reach me at email@example.com or at 086 821 5911.