The DOW Drops Almost 1000 Points, While Gold Edges Higher To Start The Week
COVID-19 are increasing again, not just in the US, but around the world. To start the week off, stimulus talks have broken down once again. This combination set off a selloff with the DOW falling almost 1000 points, before rebound by the end of the day. That was music to gold's ears has it moved higher on the day.
https://www.cnbc.com/2020/10/25/stock-market-futures-open-to-close-news.html
https://www.cnbc.com/2020/10/26/average-daily-new-coronavirus-cases-in-us-hit-all-time-high-as-health-officials-warn-exponential-spread-is-coming.html
https://www.marketwatch.com/story/gold-struggles-for-direction-as-dollar-gains-ground-11603716305?siteid=yhoof2
I'm a supply and demand trader and I use multiple time frame (MTF) analysis to improve my discretionary trading decisions. MTF analysis involves analyzing the same asset on multiple time frames. The rule of thumb when using MFT is you want your charts to scale down/up by 4X – 6X. In my case I tend to look at:
Monthly Charts (curve time frame) – which represents that jet fighter flying over the football stadium. Weekly Charts (trend time frame) – which represents the concession stands looking down at the field. Daily Charts (entry time frame) – which represents being on the football field with the player. 4 Hr Charts (entry time frame) – which represents the center hiking the ball to the quarterback.
▶️ 3Speak
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