Gold Price Forecast of $1500 For First Time Since 2013

The gold price forecast puts gold at $1,500, a level not hit since 2013. The $1,500 forecast was made by the credible Frank Holmes of US Global Investors and not some perma-bear gold bug as reported by MarketWatch here.

Already in 2017, gold prices are up close to 8% which is what they gained for all of last year.

Gold is benefiting from the weakening U.S. dollar. In other words, President Trump’s policy agenda being derailed by ObamaCare is acting as one of the biggest catalysts for gold.

Gold Price Chart

I like to chart gold with a Renko chart using a box size of ATR 14. A Renko chart removes a lot of the noise inherent in a normal gold price chart. Remember, gold is girlie. Gold is always a drama play. The Renko chart helps remove a lot of that drama-noise on the chart so that you can better see the underlying trend. We are currently working on a 3 box reversal which is a bullish signal for gold.

Simple Gold Trading Strategy

Rather than try and pick high-quality gold mining stocks, I prefer the VanEck Vectors Junior Gold Miners exchange-traded fund (GDXJ). Just last month, Van Eck announced that it was expanding the criteria determining which stocks could be included in the popular gold mining ETF because the ETF had gotten too big as investors have piled into the fund so far in 2017.

The chart doesn’t look pretty. Large Players volume and the Twiggs Money Flow looks weak. The chart pattern I do like is a Symmetrical Triangle that appears to be forming. Remember, gold is never just a technical play. The catalyst for gold is always drama and we have plenty of that right now.

Gold Price Forecast Justified

Is the gold price forecast of $1,500 justified? I think so because gold is how you play drama.

There’s so much drama going on that even John McCain left the hospital so he could use his brain-cancer to try and push forward his own agenda. That’s drama folks. Or course John McCain didn’t really make anything better, he just stirred up more drama. Meanwhile, the debt ceiling limit is fast approaching and no one is talking about it because their too busy arguing over ObamaCare that is completely collapsing now.

The FBI and Mueller, at the bequest of the Establishment, are doing a Russia witch hunt against Trump while Trump’s own Attorney General Jeff Sessions recused himself of the Russia investigation AFTER being appointed effectively tricking the President. Drama!

President Trump has already taken the US to the brink of war with Russia probably, in part, to prove he’s not in collusion with Russia.

Then you have President Trump using Twitter to bash his political enemies every chance he gets putting drama on top of drama.

All this drama bodes well for gold and the signs are that it is likely going to get worse so I’ve picked up some GDXJ in my personal trading account. You guys know me, I’m in and out for a quick gain if I can get it.

Are you thinking about buying gold? Leave your comments below.

Best Swing Trading Strategy Is In Financial Stocks Right Now

The best swing trading strategy in stocks is coming from the financial sector right now. Several banking stocks look like good swing long setups after JPMorgan and Citi crush estimates.

Banking Stocks and the Best Swing Trading Strategy

In a stock screen of recent pullbacks in the strongest stocks in the market that are still near their 20 day high, banking stocks were the common theme.

Specifically, this best swing trading strategy screen is scanning for:

Price: Above 20, Average Volume: 50 SMA > 20K, Near 20 day High which limits the maximum distance to the 20 day high to 5%, Price Below SMA 10, Price Above SMA 20.

Citigroup

Citigroup presents a good setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 67.45. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 65.75, a stop order could be placed below this zone. Notice how well pocket pivot signals (blue dots) have given good entry points for swing long trades.

CNA Financial Corp

CNA is showing a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 49.03. Right above this resistance zone may be a good entry point.

Bancfirst

BANF presents a decent Symmetrical Triangle setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a very little resistance above the current price. There is a support zone below the current price at 98.69, a stop order could be placed below this zone.

You can find out more about how to use the best swing trading strategy screener here.

Simple Swing Trading Strategy Using Large Players and Pocket Pivots

Are you ready for a simple swing trading strategy that uses large player volume and pocket pivots?

The idea is to screen for pocket pivots and effective volume studies that show large players accumulating. You look for a positive divergence between large player volume and price and make sure the Twiggs Money Flow confirms the positive divergence on the large player volume. I would not enter a swing long position if the Twiggs Money Flow doesn’t confirm the signal.

What makes this simple swing trading strategy so awesome is that you can use one tool called Chartmill here to quickly screen thousands of stocks for large players and pocket pivot signals.

Simple Swing Trading Strategy

Log in to your Chartmill account and click on Charts at the top of your screen:

In the Add Indicators box, add the indicators: Simple Moving Average (50), Effective Volume: Large Players (), Pocket Pivots (Kacher/Morales)(10,2), Twiggs Money Flow (21), and Support+Resistance Lines():

Now save those chart settings by clicking on the little menu graphic button, and then the Save button in the top right corner of your screen:

Please note, there’s two menu graphic buttons on the right side of your screen. You want to click on the top most menu graphic.

Now that your swing trading chart indicators are saved, to screen for stocks using the simple swing trading strategy of large volume and pocket pivot signals, click on Shared Screens at the very top:

Now scroll down and select “large effective volume + pocket pivot today”:

Charts will populate on your screen. What you are looking for are stocks that have been consolidating with rising large players volume and a recent pocket pivot signal.

When you find a stock that looks interesting, copy the ticker symbol. Now go back to the Charts area and type in the ticker symbol and load the default chart settings you saved in the steps above.

You are looking for the Twiggs Money Flow to confirm the positive divergence between large player volume and price action.

This is a really simply swing trading strategy that is working nicely right now. Below is a video lesson I did of the steps above for those of you who find it easier to follow along by looking at my screen.

When Will the Stock Market Crash?

When I expressed caution to a trader last week and that the market exists to ruin the greatest number of amateur traders at any given time, the trader replied I don’t believe that. Another trader I expressed caution to about this market told me I have to just ride the wave higher.

Folks, your goal should be to “anticipate,” not “react.” If your big plan at getting rich from trading is to just “ride the wave higher,” you are in for some serious disappointment. Trading is harder than that. Riding the wave higher is a trading strategy of buy high and sell even higher. In other words, you are always chasing. Chasing as a strategy is ok until it’s not.

The wise Djellala trader has this to say about when will the stock market crash.

You will hear some people online always talk about how the stock market will crash. They don’t know. They just say the words that the stock market will crash. If the crash happens after a few days or one month or two they will say oh, didn’t I tell you the market was going to crash? If the market is still going up and up and up and up those people will change their mind and they begin to speak about the market is going up, so it means they don’t know people because no one knows if the market will crash.

I love listening to Djellala. He’s a funny, no-nonsense guy.