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So, as we can see, Gold has made a significant push down from the 1960 level and now the next question to answer is, how low can we really go? So, with the inauguration this week as well as recent talks/news reports regarding Biden’s stimulus proposal, we can expect a lot of volatility coming into the market during the next several days.

Out of all of the tradeable instruments, I would argue that Gold is most effected by economic news, so strong moves should not be out of the question for coming weeks. However, we need to ask ourselves, just how low can Gold go? If we note the chart below, we can see that it appears we are reaching to the 1765 level where we can see some strong daily liquidity.

I believe that despite what happens with the inauguration, we will continue to push down to this level as this just appears to be the level that would be the least “expensive” place to enter. It wouldn’t surprise me either if we saw a move to that level and then “negative” news on the U.S. Dollar to drive price up and make another push towards the 1900’s region.

I’ll never forget the feeling I had. That day when I placed my first forex trade and made a $300 profit in a matter of minutes. I was taken over with a rush of euphoria, as I believed I just found the holy grail and that I was going to be a millionaire faster than you cam blink. Unfortunately, as anybody with true experience in forex trading will tell you, that was far from the case as just as quickly as I made that $300 profit, I lost it along with an additional $1,700 over the next week and a half. It was upsetting to say the least, but it was in that moment that I discovered I had a real passion for forex trading and I was determined to make it work.

Now, just a disclaimer here before we get into the ins-and-outs of trading and what the journey entails, I want to preface this by saying I was NOT a naturally good forex trader or a “forex trading expert” by any stretch of the word. I started out in this game arrogant, impulsive and stubborn, three of possibly the worst traits you can have when it comes to trading. However, that’s another reason I love it so much as forex trading is the ultimate self-development tool and will help you develop the discipline, patience and perseverance you need in order to succeed at any facet of life not just forex trading.

When discussing forex trading, especially learning forex trading, it’s important to give people a sense of realism in regards to just what trading entails. Trading, especially forex trading, is NOT an easy skill to develop. Reason being for this is that forex trading, forces us to go against numerous instincts that we have developed over thousands of years of evolution and survival. We as humans are wired to want to know exactly what is going to happen next and stay away from anything uncertain, as uncertainty equals danger in the reptilian brain.