Hubert Senters here.
Gold’s got a little bit of a pullback today down seven. Well down at $8 as I just did that video right there. So I think this is just a minor pullback. Heads up, there’s no way to confirm that until after time passes, right. But it’s had a nice little move consolidation and two vertical moves here. So if you don’t trade gold futures which I trade a lot of gold futures you can trade GLD and do the same thing.
I don’t recommend trading the Newmont Mining and the miners because they have to figure out where the gold is then they have to dig it out of the ground and they have to dig it out of ground at a profit with a good profit margin sometimes are not able to do that. So I would recommend either gold features which is at GC or GLD.
I’m going to go use gold futures for this example because that’s why I trade a lot of. You could wait for a pullback of $13.89. What I like to do since I’ve got a daily uptrend and then the hourly is just below the cloud here you can see up above the cloud here and it was good for that’s about the last three hours in the day so it’s up one day two day three day. And it’s up for days. It’s usually good for three to five days minimum after an hour they buy signal so I can wait until I get back up above $14.30 or I can kind of sneak in there as soon as a 10 minute signal closes above the cloud.
I can go ahead and get long. And it’s really just you got to pick your poison and pick your pullback area. The most important thing is not buying the pullback is getting in a market that’s going up. I don’t care if you do it on a breakout or a pullback but gold looks like it’s in a new uptrend and it is pulling back today so it’s probably a decent entry. Make sure use a stop-loss of course.
Now talking about predictive algorithms and figuring out where you’re going to go in or whether someone’s going to go up or down VantagePoint has a really cool algorithm that has a predicting feature to it that tells you over the next one to three days which way they think this thing is going to go based upon their algorithm and software. I recommend this software for people that don’t have a ton of time to scan a bunch of markets and do a lot of chart looking at a lot of charts like I do.
I do it just because I’m into it because I’m a weirdo and. But if you don’t have time if you’ve got a job or two jobs or three jobs or kids or grandkids or whatever it’s a great piece of software to help you find better stuff to trade. And it’ll tell you over the next one to three days we think this thing’s going to go higher or lower. Webinar is today at noon. I will HYPERLINK you to this registration page.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
