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Monday, September 15th

“You have touched my soul and I guess that souls that have touched can no longer be single souls or sit in a corner alone again — They must always be reaching for the touching again – for their other half – It’s only in the contact with the other soul that they can feel complete.”

– Georgia O’Keefe

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This tool is spotting momentum moves before they happen!
Details inside.

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Major Market Events 

• U.S.–China reach TikTok deal — Outline agreement allows platform to keep operating in U.S.
• Tesla shares climb — Musk buys $1B in stock, turning year-to-date performance positive
• Alphabet hits $3T cap — Tech giant joins elite club on strong gains in mega-cap tech
• Fed meeting in focus — Markets eye rate signals as “run it hot” trade powers equities

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🤔 My Thoughts

Gold at Round Numbers: Why Big Figures Mess With Your Head

A calm plan you can actually use

 

On Friday’s Profit Panel, Geof Smith put his finger on a simple truth about gold: big round numbers mess with people.

He said told us that as gold approaches those big round numbers, what he called “century marks” like 3,500… 3,600… 3,700, it has a tendency to pull back.

That’s the whole story right there. Round figures attract attention. Attention attracts bad entries. And going into a Fed week like this one, that effect gets louder.

As Geof added, “Fed Day’s coming up… it’s probably gonna chill out a little bit… until the Fed does its thing.”

Here’s how to think about it in plain English.

When a market tags a big, clean number, as it recently did with 3,700 in gold futures (ticker /ES) you can assume two things:

1) a lot of late buyers just chased, and
2) the next move is more likely to be a pause or a pullback than an instant moonshot.

That doesn’t mean you go bearish. It just means you don’t pay top dollar for a headline candle.

What to do instead:

• Buy dips, not spikes. If you want gold exposure, wait for a pullback into a prior support zone or a quiet retest that holds. No rush. If it never pulls back, let it go. There will be another pitch.
• Keep the vehicle simple. Most traders don’t need futures. GLD shares are fine. If you want options, use defined risk: a small call debit spread on a dip, or a tiny bull put spread under support if you want to “get paid to wait.” Either way, size it so you can sleep.
• Let the calendar breathe. Going into a Fed week — like this week — expect chop. Plan for base hits, not home runs. If the post-Fed move holds above your level, great — you can add. If it fails, stay flat and calm.
• Pre-write the exit. On a quick push in your favor, take profits without getting fancy. If price snaps back through your support line, get out. No ego. No “but what if.”

Bottom line: round numbers make noise. Pros let the noise fade, then act.

If gold wants higher, it will give you a cleaner entry than “right this second at a fresh headline high.” If it needs time, small size and defined risk keep you out of trouble while you wait.

Click here to watch the on-demand replay!

And don’t forget to register your spot here to join us next time we go live!

To Better Trading,

Alex Reid

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