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Gold

Quoting KnifeS2
{quote} My bias still remain bullish, but let's wait and see if DXY want to return to the 92.4 level
As I said, fantastic trade for those who went long
My entire life in one sentence: it didn't go as planned, and that's ok.
Random Scalper All Time Return: 241.8%
If we could get below 1800 today it will be a very good scalp up.
maybe 1794/6
im not going to take short, but im starting to believe that price looking to test lower places.
Be kind, the money will follow
Quoting gatenio
If we could get below 1800 today it will be a very good scalp up. maybe 1794/6 im not going to take short, but im starting to believe that price looking to test lower places.
Well i dont think we will get below 1800 anytime soon.

Ranging day as expected, the lowest we can see tomorrow would be around 1806, very difficult to get any lower, probably will fly tomorrow
Quoting gatenio
If we could get below 1800 today it will be a very good scalp up. maybe 1794/6 im not going to take short, but im starting to believe that price looking to test lower places.
Below 1800 is a little bit difficult considering that the DXY is very weak
My entire life in one sentence: it didn't go as planned, and that's ok.
Random Scalper All Time Return: 241.8%
Quoting KnifeS2
{quote} Below 1800 is a little bit difficult considering that the DXY is very weak
nothing is difficult when it comes to gold.
dxy is not the problem and its not correlate 100%.

i prefer to analyze every asset separately.
yes, i keep my eyes on dxy, but just on daily big S&R
Be kind, the money will follow
Quoting gatenio
{quote} nothing is difficult when it comes to gold. dxy is not the problem and its not correlate 100%. i prefer to analyze every asset separately. yes, i keep my eyes on dxy, but just on daily big S&R
I’m still have a bullish bias on gold, but normally I do not trade gold, only scalping.

When I analyze a pairs I use a lot indices like DXY, BXY, EXY ecc... it works for me
My entire life in one sentence: it didn't go as planned, and that's ok.
Random Scalper All Time Return: 241.8%
I think H&S pattern still in intact & I think we might see 1828/30 today. Initially i will look for sell at the 1816.8 and if clear break that area than impulsive buy till 1828. Also will look for buy around 1806-1807.5.
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Looks like gold is ready to fly, first target will be around 1828, if PA breaks 1833 and closes above 1 hr & 4 hr TF then sky is the limit!
Hi guys, I'm new to forums I've been trading for almost two years and thought it was about time I joined one, and as I primarily trade gold here I am. Looking forward to conversing with you all and maybe learning from you as well.

What's everyone's bias for gold this month?
Quoting khallas
I think H&S pattern still in intact & I think we might see 1828/30 today. Initially i will look for sell at the 1816.8 and if clear break that area than impulsive buy till 1828. Also will look for buy around 1806-1807.5. {image}
took 2 sell trade on mentioned area, now will look for buys only if find any good at 1806-1807.5.
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I think, price should respect today formed low, might not see the price where i want to buy, I'm looking for buy now at 1810.60-1811.60.
Quoting khallas
{quote} took 2 sell trade on mentioned area, now will look for buys only if find any good at 1806-1807.5. {image}
I'm waiting for price to break 1816 for a buy
4hr candle close will give us a clue, strong bull candle would mean continuation and doji or a small body one would mean consolidation will continue
Gold is still consolidating. Am bias short but there could be sale hunt before drop tomorrow and vice vasa is also true
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Long is dead for me, i closed all my longs, will wait for 1798
200 pip range this week.....it will break tomorrow.

MY Bias is to sell at the high of the range.
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Trend_Masters
Trade Idea.

Sell GOLD at daily close

Target 100point lower.....

stop loss 100 higher than the daily close....

My weekly trade will remain open and is the preferred trade.

this sell trade will act as a Hedge ..

If the dollar performs well tomorrow this trade will reap the benefits of strong dollar and minimize the loss on the weekly trade.

trade reason

DAILY STOCHS TURN LOWER ABOVE 80LINE

ACCELERATOR OSCILATOR =RED
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Trend_Masters
Looking at the chart, im more inclined for a deeper correction somewhere between 1790-1770 before any swing up.

PA is desperately calling for a correction on higher TF, im flat for the time being but might consider a short after NFP
As you know, gold is a hedge against inflation. In my opinion, there are two major reasons why gold stopped appreciating:

 

  1. When COVID19 happened, inflation expectations fell very hard, and so did gold. But when inflation expectations rebounded in 2020, gold made an a craze rally to 2'000. It's just too expensive right now if you compare it in inflatino terms.
  2. The FED has so far managed to keep inflation expectations low despite the high CPI numbers.

Here are a few charts that you can use:

  1. 5-Year Breakeven Inflation Rate.
  2. 5-Year, 5-Year Forward Inflation Expectation Rate
  3. IShares TIPS Bond ETF

Here's my chart with inflation data: www.tradingview.com/chart/wM0zSpHM/

You can also watch my video on YouTube with the analysis on Gold:

Inserted Video
I anticipate price pulling back to 1767 - 1768.
Then, a bullish marathon to 1866 thereabout.
A lot of large candles and spikes too...ensure good risk management.
...watchfully wait, indulge and the pips shall follow !
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