Anthony Speciale Stock Market Analyst

Better Way to

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MORE MONEY, MORE QUICKLY, MORE SAFELY.

The Recent Rally In Gold: A Case Study

As indicated in the March 8 issue of A Better Way to Wealth, the trade plan was laid out for gold’s most recent rally as follows...

As indicated in the March 8 issue of A Better Way to Wealth, the trade plan was laid out for gold’s most recent rally as follows…

If price settles above the ascending channel top in the $1,940 handle, preferably on a weekly basis, that should put gold on the trajectory of testing the ascending full channel extension currently in the $2,070 handle.”

This trade was triggered with confirmation on Friday, March 4.

Here’s the chart …

Daily Chart of Gold Futures Before Rally — Source: TradingView

Friday’s close set the stage for Sunday evening’s open.

The market had gapped up, and what I was considering a three- to five-week buy signal had transpired in just two days’ time.

When volatility kicks up, timeframes typically accelerate aggressively!

Here’s what it looks like after the full channel extension has been completed…

Daily Chart of Gold Futures with Rally — Source: TradingView

Commodities gapped up while the major market indexes gapped down. Monday and Tuesday’s volatility sealed the deal, and the $2,075 target was filled.

Gold has historically been a safe haven for investors to park money when uncertainty hits the market.

When I saw how gold had closed on Friday, it was a leading indicator of what was to come the following week. And sure enough, it most certainly was.

The discipline that comes with having an ultra-conservative trade plan and being patient waiting for all the boxes to be checked has once again paid off with this 1,100-tick play.

Rules to Live By

Do what you feel in your heart to be right – for you’ll be criticized anyway.
Eleanor Roosevelt

Until next time, I wish you a beautiful and blessed day!

Yours In Trading Success,

Anthony Speciale Jr.

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