There are just 3 months left to finish the year 2020, as we approach the last quarter of the year. There has been a lot of uncertainty and liquidity this year on the economy, and here is how we deal them by using our golden trades. With $1149/ounces in gold and $15.1/ounce in silver for the year 2020, we remain very bullish for the year so far. Let’s have a look on some of our trade’s entry and exits. Please click here to see the whole history and trading performance.
On 23 January 2020, we advised gold to be bought at 1570 using pending order. The order was also filled. The trade stopped at $20 loss, but prices increased after the trade stopped. The analysis were 100 % accurate, but the stop loss was not sufficient. Trading means making profits, not increasing number of positive trades. The only way to be successful in this profession is to control your emotion and to manage your capitals.
The trade was taken on 17 February 2020 to buy gold in 1587 as there was a strong reason to go a long way. The prices reported to significantly rise and the bull flag formation was broken up with a historical bottom formation. Afterwards, the trade produced a huge gain of +$73/ounce.
On 13 March 2020, When the Covid crisis started, the desire of gold prices were theoretically a potential wedge formation. The volatility expanded, and the price action formed a double top at the apex of wedge. As the market was fearful of Covid, the chances for a drop was significantly higher because of uncertainty and then a potential bottom formation on yearly supports. At 1582, we ended up going short gold and got +$97/ounce of big trade. The prices followed our BIG RED ARROW in the chart precisely.
Learn more How gold predictors earn in 2020
On 21 March 2020, we executed another big trade which is one of the golden trades. The prices followed the RED ARROW on the chart and targets were achieved within 6 days of trade. That is where we made fantastic profits and entered a long trade on the basis of emergence of bullish patterns of prices. As prices were trading at yearly supports between 1400 and 1450 and formed a reversal sign within the formed wedge, we all highlighted the fact that the drop in gold and silver is just a matter of virus fear and the Covid crisis will later lead to higher prices. We bought gold at 1519 by using pending order of BUY STOP 1519 with a clear objective of 1700. The trade led to + $181/ounce and was one of our largest trade for the short term after +$267/ounce trade.