Transcript of Get Ready: Gold is about to BREAK
TraderNick
0:00The first half of this year was really0:02rough for precious metals. We saw a0:04minus 29.5%0:07return for gold in the first half of the0:09year, and a lot of the precious metals0:11community is pretty convinced that the0:13second half will be a major rally back.0:16And while that may happen, there are0:18some recent things that are developing0:20that is fading away a little bit of the0:22rally or optimism in precious metals we0:25had seen. In today's video, we're going0:26to take a technical view, a fundamental0:28view, and a sentiment view of what is0:31going on in the precious metals, and0:32then we'll also take a look at0:33currencies and stocks as well to set up0:36trade ideas for the week ahead. As we0:38get started, let me just remind you that0:39this is not financial advice. Trading is0:41high risk. I'm just sharing my opinions0:43here. So, without further ado, let's get0:45right into it. Starting with a technical0:47view of gold, if we take a look at our0:48moving averages here, this is the0:50200-day moving average, the 50, 100, and0:5320 moving average, and you can see that0:55price has fallen below all of them.0:57We've lost that short-term momentum0:59burst that we started to see in recent1:01weeks or months, I should say. Uh we1:04bottomed out back in, you know, summer1:06months, July, June.1:08Bottomed out around 4,0001:11and were able to push back higher. And1:13things seem to be off to a good start.1:15That is until this Middle East conflict1:18stuff has rolled on and become a1:21continuous inflationary problem. And now1:25the Federal Reserve is talking1:26effectively about hiking interest rates,1:28and there's some reasonable1:30understanding as to why. First of all,1:32if we take a look at inflation data, we1:35know that the CPI is elevated and is not1:38showing any progress of making back down1:41to the 2% target rate. And this incurs1:44an interesting uh decision-making1:46process for the Fed. It makes the Fed1:48wonder, all right, we need to get this1:50thing back to 2%. This long, five-year1:53period above 2% inflation uh is starting1:56to do damage, and we don't want the1:58economy to really struggle and fall2:00apart. Uh again, ultimately, the Fed's2:03sort of Ponzi scheme of printing money2:05and exporting it into the world only2:06works if people trust that it can sort2:10of uh provide stability to some extent2:12in regards to price inflation.2:15So, there is a narrative here where they2:17need to get that inflation at least2:19meaningfully moving back in the2:20direction of the 2% target. That is why2:23the Federal Reserve has been hiking2:25interest rates again. They hiked by 252:27basis points. And what's kind of2:29interesting here is that, you know, many2:31people have pointed out, that's not2:33going to do anything. And often times,2:35historically speaking, when you do see2:37one hike, you do often times see more2:39where that came from. And so, there is a2:42bearish pressure there because rising2:44interest rates, uh as we can see by the2:4710-year government bond yield, is2:49effectively higher borrowing costs.2:51Higher borrowing costs are also another2:54way of saying higher lending rate2:56opportunities. If you're lending money,2:58you're going to get paid more in this3:00sort of environment because bond3:02investors uh are, you know, getting paid3:04more and more in terms of a premium here3:07to lend money into a global system that3:09is desperate for cash. Now, the reason I3:12bring that up and why that matters is3:14that is a bearish thing for gold because3:16the opportunity cost of holding gold,3:18which yields nothing, becomes more3:21severe when you could go out and you3:23could buy, whether it be US government3:25bonds, foreign government bonds, you3:27could lend to corporations, even the3:30Magnificent Seven is out there hunting3:32for uh for debt. And so, you have the3:34situation where lenders are getting paid3:36higher yield. And so, people say, "Well,3:39gold doesn't yield anything. Sell gold.3:41Go yield uh or get yield somewhere3:43else." Now, I'm not saying there is only3:45bearish reasons for gold right now3:47because mid to long term, maybe, you3:49know, 6 months plus, I think gold3:51actually looks really attractive to the3:53bullish camp. I think that the3:55you know, uncertainty around the US3:57national debt system is sort of one of3:58the reasons that permanently long-term I4:00remain bullish. Same thing with the4:02central banks around the world buying4:04hoarding gold. I agree with that story.4:06I think it's very obvious. But that does4:07not mean that gold has to move every4:09single day to the upside. And I think4:11what we're seeing now is increased4:14evidence in recent weeks that the4:16Federal Reserve will continue to hike4:18interest rates and so will other central4:20banks around the world. This puts4:22bearish pressure from a macro4:23perspective on gold. We'll talk more4:25about that in just a second. Let's talk4:27technicals. So, in the last few weeks4:29we've been really range bound, really4:30choppy here with a lot of indecision4:32when it comes to precious metals. Though4:34we are at the bottom end of a really4:36important range that I think we need to4:38watch closely going into the week ahead.4:40So, if the conflict in the Iran4:43continues to put inflationary pressures4:46and and causes Fed to hike interest4:48rates and the 10-year yield continue to4:49trend in the direction that it has for a4:51while,4:52I do think that's going to start to4:53weigh on the gold story and that we4:55actually could see a move back down to4:58the bottom end of this year's range. I5:01know it's not super exciting if you're a5:02precious metals bull. I've gotten a lot5:05of flack here recently on my YouTube5:07channel. Tons of comments, people very5:08upset with me. Nick, you changed your5:10mind on gold, you've gotten more bearish5:12here. And that is true. And I think as5:14traders, it's not a weakness to be able5:16to react to new information and change5:18our minds. Uh instead, I think it's5:21actually a strength to react and follow5:23your system rather than your your gut,5:26right? I am not a gut-based trader. I am5:28a systematic trader. Uh when it comes to5:31gold, I have a pretty solid reason in5:34terms of my own trading system as to why5:37I have flipped to the bearish side of5:39the story. So, let's just talk about5:41from a technical perspective. We'll come5:43to the macro a little bit more in just a5:44moment.5:45From a technical perspective,5:48my5:48>> [clears throat]5:49>> general bias here is that I think until5:51proven otherwise, rallies in gold will5:55continue to be met with selling5:57pressure. While we have been choppy5:59here, you can also see that we've been6:00putting in these grindy lower highs in6:03this chart. And we are sitting at a6:05pretty critical level of support. I6:07think that if this level gives, you have6:09a lot of potential for this thing to6:12roll on down to a couple critical levels6:14looking left on this chart. The next6:16area of support that I see beyond this6:19current level is what if we make a move6:21down to 4200? 4130 also looks like a6:24pretty critical level of support. And6:26then of course, if we start to lose that6:28area of support, the next spot that I6:30see here6:31would be a move down to the prior lows6:33around 4000. And I actually think that6:36you very well could see that take place6:39given the strength that we're seeing in6:41the US dollar. The dollar looks very6:43strong here breaking out and very little6:46pullbacks. Typically, when you see these6:47sorts of moves, right? Very brief6:49pullbacks here, you can see just minor6:51pullbacks.6:52That is a sign of a market that is not6:54messing around. And it's also a market6:56that is adjusting to Oh, wait, the Fed6:58is going to hike interest rates. They're7:00going to be serious here and keep rate7:02hiking in response to this. Now, a lot7:05of people, myself included, have been a7:07little skeptical about just how much the7:09Federal Reserve will hike interest7:10rates. And I think that there's two7:13sides of the story. The one big7:16uncertainty here is of course the price7:19of oil. We can't control the We've7:22talked about this a lot on the channel.7:23The Federal Reserve cannot control the7:24price of oil. Uh and that is a huge part7:28of the inflationary problem. But it's7:30not the only one. And I think that we7:32can take a closer look at this. If we7:34scroll down on this page, by the way, on7:36Edge Finder, and if you would like to7:37try out the tool that I'm using, I'll7:38leave a link in the description down7:40below. Check this out. So,7:42>> [clears throat]7:43>> if we take a look at some some of the7:45factors here with CPI, it is true that7:48gas is a huge part, gas prices, diesel7:51prices, etc. huge part of inflation.7:53However, there's also shelter that was7:55higher that rose quickly. Also see food7:59away from home, so like services like8:00medical care, apparel, household. There8:02are other things in here that the Fed in8:05a situation where they do not want8:07inflation to start sharply rising,8:09>> [clears throat]8:10>> can still hike interest rates if the8:13economy will support it. And that's a8:16big if, so let's take a look at whether8:18the economy is suggesting that it can.8:22Well, here is services PMI data. You can8:24see this is at 55.4.8:26That is expansionary, right? So, the way8:29to read this chart is a reading over 508:32effectively means that purchasing8:34managers who were surveyed in this8:35across America in the services component8:38of our economy, if it's over 50, that is8:41telling you that they think that there8:43is broad expansion going to come to the8:46economy or at least the services aspect8:48of our economy.8:50Well, 55.48:52and beating estimates of 54.18:56is very strong. But, let's keep building8:58a bias here and we'll take a look at8:59manufacturing PMIs also showing a lot of9:03uh basically optimism in the9:05manufacturing component of our economy.9:07Retail sales beat estimates very sharply9:10here as well. GDP growth is while it's9:13not at a massive number, still 1.5%.9:16If we take a look at GDP growth9:17forecast, you can still see there is9:19estimated growth in the economy ahead.9:21Now, why does this matter? Well, it9:24matters because the Fed will be more9:27willing to hike interest rates if the9:30underlying economic data supports that9:33they can do so in order to tamper down9:36inflation.9:38And where I've had a change in heart9:39recently is the wave of solid economic9:43data that we have recently seen, which I9:45now think supports that they can hike9:48interest rates. Now, I have if you've9:50watched my videos, you've recently9:52probably heard me say kind of the9:54opposite where okay, data was mixed. I9:56don't know that they can hike too much,9:58but then we sort of had this round of9:59new information that has sort of10:01supported the case for rate hikes in my10:04personal view. And it is why now I think10:06that they can still continue to hike10:08interest rates, and I don't want to10:10fight that macro trend.10:12So, keeping it very simple, if the10:15dollar continues to be bought on10:17pullbacks and continues to rally maybe10:19back to the top end of this range, we10:21could be looking at a picture where gold10:23moves lower in the short to medium term.10:26Now, let me clarify because I know10:28there's going to be people there were10:29people very upset with me in my previous10:31video. Oh my goodness, people very upset10:33with me. Let me tell you this right now.10:35If my opinion on precious metals, if you10:38agree or disagree with me, that's great.10:40But at the end of the day, I would very10:42much discourage you from getting upset10:44with my opinion because what that tells10:47[clears throat] me or what it really10:48should tell you is that you are10:51defensive about your thought process10:53there because you lack a trading system10:55yourself. I have conversations with10:57people all the time. I do live streams10:59with fellow traders that I highly11:00respect, and oftentimes we do disagree.11:03We have different thoughts. Neither of11:05us are upset with each other because11:06both of us respect that each of us have11:08our own systematic way of trading, and11:10we may disagree at times, and that's11:12perfectly fine. So, what I would11:14encourage you to do is make sure that if11:16you are bullish or bearish on any11:18particular asset, whether it's gold,11:20whatever you trade,11:21have a reason why and hold to it, and11:24don't let other people's opinions weigh11:25heavily on what you ultimately do. I get11:27comments all the time. Nick, you should11:29have done this. You should do that.11:30Whatever. It's a It's a really11:32interesting psychological study for me.11:34I have found a really I'm very To be11:37honest, I've I've grown very good at11:39ignoring the massive amounts of people11:42who tell me, "Nick, you should have done11:43this or you could have done that or your11:45trades are terrible." You know, you get11:47all these sort of comments, but11:48ultimately, over the years, I've stuck11:50to my system and I've generated profits11:52by sticking to said system. And I'm11:55systematic in the approach that, look,11:58you may disagree with my thought process12:00to get bearish with gold. Maybe even12:03internally, I want to be in an12:05environment where gold looks bullish.12:07But systematically, mechanically, this12:10is not built by bias or opinion. This is12:13a set of economic data, rules, and12:16things being monitored. It is built by12:18code that is helping me to change my12:22mind, right? And again, I bow down12:24ultimately to my own trading system that12:26has worked for me over the years that I12:28spent a lot of time building. So, I have12:31Yes, I have flipped to the bearish side12:33of gold and I have also even taken a12:36small short position here on Friday.12:39Now, we'll see how things go and if this12:41trade stops out, it's on to the next12:43trade.12:44By the way, you would not even believe12:46how many people commented, "Nick, you12:48were going to you're going to regret12:49gold. You're going to get12:51uh or regret getting out of gold. It's12:52going to rip next week." And here is12:54what I would say to that because we as12:56traders, we do this to ourselves, right?12:58I'm I'm reflecting on what people say13:00because we do it to ourselves. You say,13:02"Man, I shouldn't have done that. I I13:04could have done this. I would have done13:05that." Listen, stick to your system. If13:09you don't have a system, stop what13:10you're doing entirely in trading and13:12build one. I have an exact approach to13:15what I'm going to do in markets and I13:17know how I'm going to react if I'm13:20wrong, if I'm right, etc. If gold13:22continues to move lower, I'll look to13:24manage that winner by trailing stops and13:26using market structure to do so.13:28And if gold does rip, then I won't13:30regret it because I'm sticking to a13:32system that I've built over years of13:33hard work. If one outcome isn't ideal,13:37it doesn't mean I throw away the system,13:38right? Systems have wins and losses.13:42Again, most people who are, you know,13:44all sorts of like upset about which13:46price movements are going to or where13:48the price is moving in the next day or13:50two, people are upset about that13:51fundamentally don't understand the13:53difference between trading a system and13:56trying to gut feel where price is going13:58to go in the next day or two. I can tell14:00you with very little accuracy day to day14:02what's going to happen to gold or any14:05market. But I can tell you over the14:06longer term if I stick to my system, I14:08have a very good chance of making money.14:10And that is all that matters to me in14:11the end. And so too should it to you. If14:15you disagree with my opinion on a14:16market, that's great. What's your system14:18tell you to do? If you're going off of14:20gut feeling and opinion based off the14:22top of your head, that doesn't tend to14:25end well for traders. A system that is14:27back tested and studied and refined,14:30that is what ultimately guides14:32profitable traders. So with that said, I14:34do have a short position on gold. Uh14:36this retracement here, this was about a14:3838.2% retracement on the 4-hour chart.14:41So it's a lower time frame short. It's14:42my first attempt to get bearish on gold14:46and we'll see how this one plays out.14:47I'm looking for a push, like I said,14:49bigger picture, maybe down to that 4,00014:51level in the next few weeks. Uh if that14:54can happen, then that would be fantastic14:56and I could sort of trend follow that to14:57the downside. Now again, the one last15:00thing I'll say about this is that I am15:02short and I know exactly why I am short.15:05I never encourage anyone who is watching15:07my videos to copy what I am doing15:10because I am doing it. That is a15:12terrible thing in trading to do because15:14you have to understand why someone is15:15doing what they are doing and the better15:18way of thinking about it is only take15:19trades that you actually understand why15:22you are taking it and you know your risk15:24ahead of time. Anyways, uh there's some15:26things that I wanted to go through here15:27with gold that I think are worth15:29mentioning. So, technical reading is15:30bearish. I think that's very fair.15:32Seasonally, September this last, you15:34know, couple weeks of of September is15:36historically pretty bearish for gold and15:38for stocks for that matter. Another15:40thing is that crowd sentiment, and this15:41is probably why my comment section was15:43so full of people very upset with me.15:45Crowd sentiment is incredibly bullish on15:47gold right now. In fact, let me show you15:49that a little bit closer. So, if I take15:51a look at my put-call ratio here for15:53gold, we'll load this up here. So, this15:55is S&P 500. You can see crowd sentiment15:57is very bullish on that as well.16:00Let's take a look at gold and see what16:01this has got. So, what this is telling16:03you is the put-call ratio being this low16:05tells you there is a significant amount16:07of call volume going on in GLD, which is16:10the ETF that we track for this put-call16:12ratio. So, this is telling you on a16:14relative basis in recent time our16:16threshold for high call. This uses a16:18standard deviation calculation over the16:20last 30 days. What we can see here is16:23that call volume is pretty high. So,16:26crowd sentiment is pretty optimistic in16:29gold. Let's also take a look at this.16:31Now, I use this as a bit more of a16:32contrarian signal. Uh let's take a look16:35here. You can see this is not as extreme16:37once you look at the net call uh uh call16:40minus put volume.16:42You can see it's not incredibly extreme.16:44So, I don't know that I would16:45necessarily equate this to a very, very16:47bullish sentiment because just on a16:50options volume basis, this is relatively16:52low volume. So, worth mentioning that uh16:55or at least relatively low net volume.16:58It's not as crazy feverishly bullish as17:00we saw back in August. And by the way,17:03let's go take a look at like August, you17:05know, mid-August to late August. That's17:08right around here. So, the last time17:10crowd sentiment got really bullish, that17:12was right around the top end of the17:14range. So, crowd sentiment being bullish17:16again it me that you may have a little17:18bit more room to squeeze the bulls. And17:21since my trade is a bit more of a lower17:23time frame trade, we very well could see17:25something where price continues to pull17:26back down into this 4200 to 4100, and17:30then maybe we see where we go from17:31there. Maybe buyers get something going,17:33but again, for the time being, just17:36trend following my system,17:38gold continues to be more of a bearish17:40reading for me. And I'm open-minded if17:42something changes, if technical start to17:44break out. If, for example, let's just17:46paint the bull case.17:47If the bulls take control of this area,17:50this 4400, if they start breaking up17:53into 4480, this technical price action,17:56I have no interest in shorting at all.17:58So, if this happens, then I'm18:01open-minded to maybe even looking at the18:04bullish side, depending on what the18:05economic data in the next few weeks18:07delivers for us. For example, we have18:09non-farm payroll coming up this week. If18:12NFP is very bad, let's say it's really18:16poor, then that would maybe shrug off18:18the probabilities for Fed interest rate18:20hikes. If this happens, then I could18:23very well quickly turn back to the bull18:26side. I'm sort of in a ready position18:28right now. I have a small short18:29position. I think that gold can move18:31lower, but I'm open-minded. If something18:33completely breaks the system and we18:35start trending higher, Fed rate hike18:37probabilities fall off a cliff, then18:39yeah, I'll probably flip more to the18:41bullish side. But for now, path of least18:43resistance in my view is lower for gold.18:46Let's continue and talk a little bit18:47more about the dollar and other major18:50markets that I'm watching. But before I18:52do, if you want to try out the tool that18:53I'm using to scan markets, I've got a QR18:55code that you see on the screen right18:56now. You can scan that, and it will take18:58you to where you can sign up for a free19:00trial of the software that I use in all19:03my videos. EdgeFinder helps you to track19:05what's going on with institutional19:06money, as well as crowd money, and19:09simultaneously helps you to monitor a19:12ton of macroeconomic19:14data that most traders completely miss19:16because it's just simply too much work19:18to try and keep it up all in the top of19:20your head. Instead using tools to scan19:23what is going on in markets like this19:25can add a level of insight to your19:27trading that many of our traders, we19:29have thousands of people around the19:30world around the world using our stuff.19:33This stuff brings clarity to a lot of19:35traders who already have the technicals19:37down but want to mix in fundamental19:39macro. So let's now take a little bit19:41closer of a look at the US dollar. So19:44flipping over to our DXY chart, we had a19:46little bit of a red day on Friday and I19:49am looking at this closely because if19:51you do get a pullback on the broader19:53picture here for the dollar index this19:55coming week, I'll be keeping an eye on19:57this 38.2% retracement right around the20:00100 level is also very big. This is a20:0350% retracement zone. So20:05basically I think that if the dip20:07happens in the dollar most likely I20:10think it gets bought and we continue to20:12trend follow higher. So that to me that20:15that show of strength that we've20:16recently recently seen in the dollar I20:18think is set to continue and for us to20:21make a move back to the top end of this20:22range. At least that's my current view.20:26And again, I just want to reiterate one20:28more time20:29how important it is to be able to change20:32your view if something adjusts. It is20:34not a you know, weakness or a a you20:38know, bad thing to change your mind on a20:41market if the evidence shows up20:43differently. In fact, the scientific20:45method approach, you know, the the20:47concept of how science in general works20:50is new information updates the calculus.20:54It updates the way things work and in20:55trading I try and employ something very20:58similar where I had this thesis that the21:00dollar I thought had limited upside21:02until the economic data kept rolling in21:05hot and now I think it fed it supports21:08fed rate hikes in the here and now. And21:10so, that story21:12continues to be a bullish one for the21:14dollar. Quick look at some currency21:16pairs that have the dollar in them, the21:18euro dollar. I would be most likely more21:20interested in selling the euro at a21:22retest of like this 1.14721:25level. And if we take a look at the21:27British pound against the US dollar,21:29maybe an interest would be 1.33. We can21:32take a look at the dollar yen here. I21:34generally am more of a bull on the21:36dollar yen. If you were to get breakouts21:38here, I think that this has potential to21:41continue to move higher. And I'll be21:42watching that going into the week ahead.21:44Dollar Swiss franc looks really strong.21:46A pullback on this one might be21:47interesting, though I don't trade it too21:49often. Aussie dollar, I think you've21:51lost a little bit of this momentum. A21:52retest of these levels starts to look21:54more bearish in my view. And so, I21:57pretty much have a broad sweeping view21:59that the dollar continues to strengthen22:01against its peers. Dollar CAD here would22:03be looking at this kind of move for a22:05continued push back towards the upside.22:07So, for now, leaning on the dollar22:10bullish side of things. Let's also take22:12a look at stocks. So, stocks, I lean a22:15little bit more on the bearish to22:17cautious side at this moment.22:19Let's take a look at the S&P 500. So,22:21for a technical view, there is something22:24worth mentioning here, which is that in22:26October, November, and December, we22:27enter into seasonally one of the22:29strongest periods of year. So, as the22:32calendar month turns, this will likely22:34flip more bullish. So, this reading that22:37we currently have minus four on S&P,22:40while I think it could continue to last22:41through the end of September, maybe we22:43see a little bit of softness into the22:45last few days here of September. I22:47generally think that as you go into the22:49last quarter of the year, the S&P 500,22:52historically speaking, tends to do quite22:54well during that. Let me show you some22:56data here on that because again,22:58knowledge is power when it comes to this22:59stuff. And if we know, historically23:01speaking, that the S&P 500 tends to rise23:03during that fourth quarter, it is23:05something to take note of, not to fight23:08against, right? So, personally, I am not23:11really interested in shorting heavily23:13the indices, you know, making a big bet23:15against them. That is unless you get,23:17you know, a CPI, PPI, PCE number, all23:19the inflation reads start to blow out23:21and become higher than expected.23:23Then suddenly, you know, seasonality23:25might get thrown out of the window this23:27year. It is possible and it has happened23:28many times in the past where the23:30seasonal trend is not locked in23:32guaranteed. It's just historically23:34speaking what has happened and can be23:36useful for building a bias.23:38But if the conflict in the Middle East23:40continues to roar on and you see, you23:42know, oil shooting higher once more, I23:44do think that you have seen the23:46narrative here be23:48oil moving higher, stocks move lower,23:51oil moving lower, stocks move higher. I23:53think that that relationship continues23:54to be the narrative prevailing. And so,23:58if you want to see the S&P 500 breaking24:01meaningfully higher, I do think that a24:03resolution in the Middle East would be24:05likely the thing that gets us there. And24:08simultaneously, that would probably lead24:10to a softness in the dollar and yields24:12moving lower. And so, we could see that,24:15but again, at least as of this weekend,24:18we're seeing more uncertainty in terms24:20of the headlines on any sort of deal24:22being negotiated. Of course, as I say24:24this, you know, I'm recording this24:25Saturday evening, everything could24:27change by Sunday night. We have seen24:28that many times before. So, we'll have24:30to keep our head on a swivel when it24:32comes to latest updates in regards to24:35the White House and the Iranians. So,24:38we'll keep an eye on that, but S&P 50024:40generally speaking, like I said, going24:42into year's end, while I do think you24:44could get some volatility around midterm24:46elections and maybe short-term you get24:47some pullbacks,24:48I broadly think that the dip will get24:51bought here and I would be willing to,24:54if you did get a a in stocks, a move24:57back down would actually be attractive24:58in my view for buying some longer-term25:00names that I like for my portfolio. The25:03Nasdaq also sitting at fresh all-time25:05highs or very close to it. Again, if25:08you're going to get the break through25:09this, I think that that is likely to be25:11on some sort of conflict resolution in25:14the Middle East. And I do think that if25:15oil prices continue to rip higher, that25:18puts a lid on just how far I think25:20stocks can run because interest rates25:23will sort of be the um the gatekeeper,25:26if you will, to to higher stock prices.25:28If this thing keeps moving higher, uh25:30like let's put it this way, if the Iran25:32conflict had resolved, I think stocks25:34would be having a really insanely good25:36year. Uh but because the Iran conflict25:39has still gone on and yields continue to25:41trend higher, I think that's already25:43keeping stocks at bay.25:45But uh we'll have to see what the latest25:47developments there are. I'm curious what25:49you guys think in terms of the uh25:51conflict in the Middle East. Is there25:53any probability that that resolves soon?25:55What do you think? There's back and25:56forth. It's been really interesting just25:58to keep an eye on it. By the way, if26:00you're a trader outside of the United26:01States looking for a new brokerage, then26:04check out today's video sponsor26:05Eightcap. Eightcap is currently offering26:07a 20% deposit bonus when you sign up,26:10which is a massive bonus. Uh they're26:12doing it for my subscribers if you use26:14the QR code on the screen right now or26:17if you use the link in the description26:18down below, you can sign that sign up26:20for that 20% uh deposit bonus for your26:24new account with Eightcap. So, check26:25them out. Uh all the terms and26:27conditions can be found on that page to26:29make sure that it is the right brokerage26:31for you. Please do your due diligence,26:32take your time, check it out, and see if26:34it is right for you. With that said,26:36guys, thank you very much for tuning26:38into today's video. Trade safe and have26:40a great week ahead.
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