William (Bill) Patalon III is the Executive Editor and Senior Research Analyst for Money Morning. Before he moved into the investment-research business in December 2005, Bill spent 22 years as a journalist, most of it covering financial news as a reporter, columnist, and editor that included stints withGannett Co. Inc., and The Baltimore Sun.
Today Bill is the creator and editor of Private Briefing. With his latest project, he takes you "behind the scenes" of his established investment news website for a closer look at the action. Members get all the expert analysis and exclusive scoops he can't publish... and some of the most valuable picks that turn up in Bill's closed-door sessions with editors and experts.
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While the markets and media were obsessed with last week’s Fed nonevent, they missed a huge move in gold.
In the run up to the FOMC meeting, gold was in the grips of a two-week slump. But right after Yellen announced that there would be no rate hike, gold smashed through several resistance levels, including the “38.2” line (you’ll see why that’s important), and posted the biggest gains of the past two weeks.
Now, we’ve talked about resistance lines before. But what you may not know is that everything you trade – gold, oil, stocks, bonds, even currencies – follows the same pattern involving that line.
The pattern can tell you when a pullback is forming, the size of the move in the markets, and even how long it’s likely to last.
Learn how to use this pattern, and you need never miss a pullback again.
Here’s how every trader can use this to make as much money as possible…
Tags: trading strategies
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