July Gold Update III + TradeSmart Univ Course

  • Posted July 31, 2013

July Gold Update III Summary, and learning the basics of trading with TradeSmartU.

by Vinny

I would highly recommend, anybody who is open to learning trading, or who is curious, to sign up for Tradesmart University’s free Level I Course. It is a four week course that meets online two times per week starting August 13th,July Gold Update III + TradeSmart Univ Course | TradeSmartU 2013. Please visit TradeSmartU  to register for the free course. Personally, I have attended their level I course and if I knew that information when I first started trading, I would’ve not made the mistakes I’ve made (as discussed in my Bio). I am very open to other trader’s methods and strategies because it keeps me a better trader, especially if they’re quite basic. Like other traders, I find myself sometimes forgetting the basics when I get too over-confident.

On another note, I also recommend you visit TSU’s Youtube channel and view their webinar titled“Death of the Investor”.

In short, this discusses the difference in mentalities between an “Investor” and a “Trader”, as well as, a short discussion on the overall economic situation and the Federal Reserve. I am sure you wil enjoy it! Now I will tell you that after the webinar, they will package and bundle a few courses and give you a huge discount. If you are really interested in becoming a trader, please do not purchase this until you go through the free Level I course. This way you know whether trading is for you and whether you feel TSU offers the education that meets your needs. Personally, I stand by them and I will be purchasing their “Fibs” (short for Fibonacci) & their Credit Spreads class. If you are not interested, then keep the discount link as a bookmark in case you change your mind in the future. I am very picky as to whom I recommend, and I will honestly say that these guys are very authentic and genuine. They are straight-forward like I am so that is something I respect. They also have an A rating from the Better Business Bureau.

Ok, let’s now move on to some market commentary!


First, there may be a few things you need to catch up on so feel free to view my previous videos (Videos on $1000 Gold, Miners, FOMC, and others). To make it easier, I may come out with “Mini Series” where I discuss certain things within a few mins to get you all caught up on some lingo and strategies. If this is requested by many, then I will do this just for you all.

In regards to the July Gold Update (what I say for Gold is pretty much the same for Silver), what I am seeing currently as of July 29, 2013 is that we are at a decision point. Gold is consolidating in a pennant-triangular formation and is waiting for the “FOMC Announcement” that will be released on July 30, 2013 at 2pm EST. The content is not critical, but how the market perceives the content will be critical and will decided whether Gold continues its mini-uptrend or begins to go the other way. All night during Europe open and US open prior to 2pm EST, you’ll see markets in general, including Gold, to be quite volatile and at times “dead” but at the same time within a certain price range.

If you would like to know how I trade the FOMC announcement, please view my video titled “FOMC June 19th: Will QE3 be tapered?” FOMC is a monetary policymaking body of the Federal Reserve System that meets many times a year giving commentary on current economic conditions and alerting markets and public as to any changes in economic policy and/or future outlook (i.e Rate changes, Bond purchases (aka ‘Printing Money’)..etc). The question from the market is, When will the Fed announce “tapering” of their bond buying program called “QE3”? Markets are expecting this announcement to occur either September 13 or December 12, 2013. Personally, I do not expect any announcement of QE tapering in July (although anything is possible of course). The reason for this is because the Fed, in its effort to “calm the markets” stated that tapering will only be announced upon receiving “significant improvements” of economic growth summer of this year. Look for possible September or December time-frames for the July Gold Update III + TradeSmart Univ Course | The Ben Bernankeannouncement. (Remember, it’s not IF they will taper QE, it’s when they will announce their Intent to do it. Whether tapering will actually happen in 2014 is irrelevant, the announcement itself is enough to make metals and the market in general take a nice correction. In my opinion, this is also a political stunt by Bernanke, Fed Chairman, who after leaving the Fed will state he tried to “fix” inflation worries by “tapering” QE.)

At this time, Gold has a good shot towards the high $1300 levels and maybe even $1400 level as well. Let’s see how Gold reacts to the FOMC statements and if it breaks to the upside, then it’s pretty much set that Gold will reach high $1300 – low $1400 levels. Obviously, this outlook will change should unexpected momentum or news play a factor. Please be sure to visit my channel frequently to get updates. As I am not able to create daily updates, I will try my best from time to time to give written updates on my last video should my analysis change due to any unexpected price movement.