Gold Price Chart Completing Golden Triangle Pattern

The way to make money in the markets is to follow the trends. It isn’t to buy something simply because you saw it go up a lot one day or heard someone on TV make a prediction about a coming economic boom. Avoid dead cat bounces in stocks trading below their 200-day moving averages. The way to make money is to buy things that are in strong uptrends by using use short-term pauses or dips as entry points.

No matter what happens to the S&P 500 or the economy even there will be things that go up. However, they won’t be airplane stocks! Look at mining stocks for buys, because the price of gold is now completing a powerful golden triangle chart pattern.

As you can see gold has been consolidating around $1700 and is breaking through a simple consolidation triangle pattern to suggest that a new rally starting.

Notice the gold/spx ratio on the bottom of this chart, which is more important than the triangle pattern. This ratio goes up when gold outperforms the S&P 500. It surged in March and is also now breaking through a simple consolidation pattern. If you want to beat the markets the thing to do is to buy stocks and sectors beating the market!

Winning is as simple as that!

Take a look at gold giant NEM which made a new high yesterday AGAIN!

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