TRADING TIPS

Is It Safe to Go Long Gold Now?

Hubert Senters here. Question from a viewer. Is it safe to Go long Gold? No. It’s not safe. The reason is not safe is the ADX is below $20 in trending sideways. Right now, the indexes are going higher. That doesn’t mean Gold wont go higher. A lot of times they will go together. Right now the indexes are going higher. Right now, Gold is in the cloud so I would just hold up and wait until it decides to go back above the cloud or below the cloud. And remember anytime the ADX is below $20 it’s a non-trending environment which means you have to stay inside and not get out and move around in the Gold market. Take it or leave it, I think Gold will probably go a little higher because I still think there’s some uncertainties in the economy even though the market is ripping higher. But right now it’s in the cloud therefore I would pass. I wouldn’t just pay attention to it until it’s made its mind go back above the cloud or back below the cloud. And I would also use the ADX as my trigger and say hey, it’s in a good mood or it’s pissed off and wants to pick my pocket. Hope it helps. Hubert.

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