$GOLD is nearing ATH. CFDs on Gold: $2,515.5 / OZ | PIV Fund on Binance Square

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$GOLD is nearing ATH.
CFDs on Gold: $2,515.5 / OZ

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While reviewing my investment memo on #Gold in 2022 and find this wave assumption. After 22 months, the assumption has proven correct with a +46% gain. However, mistakes were still made along the way. · Initial Position Position is built in Aug. 2022 (arrow 1), with -5% acceptable loss ($1,680-ish), which is too prudent in hindsight. · Stop Loss We incurred a -5% loss over the next two months as the price hit our stop-loss level. Meanwhile #Bridgewater had been consistently holding gold ETFs at the same time. · Re-entering the Position 2 months later (November), with reveal the record-setting $249 billion monthly federal deficit and an engulfing monthly candle (arrow 2), we re-entered the position—despite having considered not to after previous setback (please consider that there were 8 months where the price barely moved) That very November also marked the beginning of the People’s Bank of China (#PBOC) increasing its gold reserves, a trend that continued for the next 18 straight months. · #Patienceisavirtue Whether you enter at Arrow 1 or 2, the end result in terms of profit may not change much. However, what makes the difference is the mindset that comes with each entry. A poorly timing can create unnecessary noise, lead to second-guessing, and drive you away from what could have been a beautiful trade. Mentality is just as important as the strategy.

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