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Re: possible gold/silver/dollar Trout

Actually, Jay, I had called for the dollar to trade around 1.07 about a year or so ago....I never traded the currencies (thankfully) because obviously it never happened...

It appears the U.S. dollar is struggling to achieve and hold even 1.00
And now that it is approaching this level again there are some major divergences in place. The market so far has not been able to convincingly overtake this number and EVERYONE assumes it will. These assumptions I believe are what kill traders, "the trend is your friend until the end"

Risky to ignore the signs of trouble like these strong divergences in place reaching the same level....best to be wise and if you are still bullish step aside until it at least clears previous resistance methinks...

By FAR the best money I ever made was fading the crowd on markets that were diverging btw...you do have to be careful of course and start by looking at the long timeframes, only major divergences at key levels show true long-term reversals...but even a powerful divergence anywhere usually leads to a quick profit IF you are nimble...
And if you are following a trend you know that it is wise to at least step aside when approaching a key level with a divergence in place until it can clear this level, even buy back in after a retracement, I've seen you recommend it.

Anyways lets see how the mighty U.S. dollar acts now with this current test of the same level...if it can break and hold above 1.02 it will rise forever lol...

Good trading :-)

Messages In This Thread

possible gold/silver bottom? 7-10 setup
Re: possible gold/silver bottom? 7-10 setup
Re: possible gold/silver bottom? 7-10 setup
Re: possible gold/silver bottom? 7-10 setup
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went long Dec silver at 14.25, Warren
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Re: went long Dec silver at 14.25, Warren
Re: possible gold/silver bottom? 7-10 setup
Re: possible gold/silver bottom? 7-10 setup
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corpse still has life in it
Re: corpse still has life in it LUaB
Re: corpse still has life in it LUaB
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Re: corpse still has life in it LUaB
Re: corpse still has life in it LUaB
Re: corpse still has life in it LUaB
Re: possible gold/silver bottom? 7-10 setup
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Re: possible gold/silver/dollar Trout
Re: possible gold/silver/dollar Trout *PIC*
Re: possible gold/silver/dollar Trout *LINK*
Re: possible gold/silver bottom? 7-10 setup
Re: possible gold/silver bottom? 7-10 setup/Wayne
Re: possible gold/silver bottom? 7-10 setup/Wayne
Re: possible gold/silver bottom? 7-10 setup/Wayne
Re: possible gold/silver bottom? 7-10 setup/Wayne
Re: possible gold/silver bottom? 7-10 setup/Wayne
Re: possible gold/silver bottom? 7-10 setup/SB
Re: possible gold/silver bottom? 7-10 setup/Wayne
Bitcoin took the legs out from under silver
Re: Bitcoin took the legs out from under silver