Recent Report:
Weekly Report: 1 day 13 hours ago
Gold’s respectable gains on Thursday took a week that was headed for a lower close, to closing fractionally higher for the week. Gold traded to a low of $1269, which is two dollars above the double bottom which occurred in April. It also traded to a high at exactly $1287 which is a Fibonacci retracement of .38%. This retracement level is created from the lows of October 2018 at $1185, to the yearly high of $1350 which occurred in February. The 38% retracement level has indicated a resistance area, with the 50% retracement level clearly defining support. The weekly low visibly reinforced that level.... Read more
Track record of gold trades
Trading one contract (100 oz.) of gold with $10k balance.
| Year | $ +/- | % Gain/Loss |
|---|---|---|
| 2010 | $30,150 | |
| 2011 | $25,570 | |
| 2012 | $22,350 | |
| 2013 | $14,500 | |
| 2014 | $9,660 | |
| 2015 | $-2,630 | |
| 2016 | $28,600 | |
| 2017 | $5,900 | |
| 2018 | $3,502 |
Trade Alerts
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Money Management
Money management is an essential component of a successful trading strategy. We use stops to define risk, and maximize profits.
• Stops limit loss exposure to a redefined amount & lock in profits by trailing them tighter when a trade moves favorably
• Defines risk and reward, thereby removing any emotional influences.
Endorsements of Confidence
Gary is one of the most skilled technicians I have met during my time covering the markets. Dedicated, reputable and skilled…
Daniela Cambone
Editor-in-Chief, Kitco News
About Gary Wagner
Gary S. Wagner is the executive producer of The Gold Forecast. He has been a technical market analyst for over 35 years. He’s written for Kitco News, Stocks & Commodities Magazine, Futures Magazine, and Barons. Gary has been a speaker for many financial seminars like Dow Jones Financial Symposium or Futures West. He coauthored “Trading Applications of Japanese Candlestick Charting” and was mentored by many great technical analysts like John Bollinger and Larry Williams.
Trading System
The system that we use for trade recommendations is a hybrid method in which we combine fundamental data with three primary technical studies. We look at fundamental data for the "big" picture, which we weave into our technical studies. These studies help us identify key pivot points. They also provide us with the timing for entrance and exits of trades, as well as stop placements.
The three technical methods we combine are Japanese Candlesticks, Elliot wave theory and Fibonacci retracement.
Introduction to our service
The Gold Forecast was created for investors and traders of all levels. Each day we publish a five to ten minute video containing concise, easily-digestible visual and verbal information, conveying precision technical market insights. All blended with the day’s most important fundamental news.
About our company
Wagner Financial Group is the producer of the Gold Forecast.
Based in Honolulu, Hawaii, our company is comprised of a dedicated group of trading, technology, and finance professionals who apply their experience, teamwork and innovation towards a common goal - helping traders succeed.
Previous Reports
Although it’s been over a week, with both China and the United States moving farther away from an agreement and resolution to the current trade war. The additional tariffs That Trump initiated by raising the current tariffs from 15% to 25% was huge, and the blacklisting this week of the tech company Huawei, also fueled the strong response by the Chinese. The moves on the part of the United States has had a dramatic impact on the Chinese economy. The intention by the administration was obviously to have the Chinese be more flexible, the truth is it has created a scenario where both... Read more
Not even the Federal Reserve minutes from last month’s meeting seem to have any kind of dramatic affect either bullish or bearish as it relates to current gold pricing. The minutes released today defined a continuation of the current monetary stance which is focusing on staying the course and moving interest rates neither higher, or lower as they stated in recent statements released at the conclusion of the last couple of FOMC meetings. As reported in Bloomberg, “Federal Reserve officials judged at their latest meeting that their patient approach to interest-rate change would be appropriate “for... Read more
Since the middle of February immediately following this year’s high at $1350, we have seen a series of lower highs, and lower lows. This trend would continue until we had a double bottom on April 24th and May 2nd at approximately $1267. From the second bottom on May 2nd the market began a short-lived rally taking gold prices just above $1300 per ounce. Currently gold is trading at $1274.40, very close to achieving a flat bottom at the lows of $1267. This chart action indicates the real potential for the identification of a chart pattern called a descending triangle. According to... Read more
It was another brutal day for gold prices. Gold futures basis the most active June contract opened at $1285.80 this morning, and after trading to a low of $1274.60 it closed $8.50 lower and is currently fixed at $1277.60. The dollar provided moderate headwinds, as it gained 0.19% in trading today. However, when you consider the decline in gold today resulted in a 0.67% drop in value, selling pressure accounted for most of today’s drop. Similar results were seen in the cash market today with gold losing a total of nine dollars, which can be broken down with a - 0.2% (- $2.60) decline due to dollar... Read more