Bullish divergence on 30m and 4H charts
Hi All. Hoping you can educate me here. Why did we see the sudden drop in the gold price yesterday? Surely the unemployment claims number would have put some doubt on future interest rate hikes by the Fed and would have been a bit more positive for Gold? Just when I think I understand the dynamics driving Gold my account gets knocked again 
Thanks and apologies if this is a rookie question.
Thanks and apologies if this is a rookie question.
- #5,127
- Feb 10, 2023 3:10am Feb 10, 2023 3:10am
- Joined Aug 2010 | Status: Trader | 5,476 Posts
{quote} I believe Gold is going to bottom around 1790 (50 Fib) or 1830 (38.2 Fib) then to 2000 and higher. But before that, it could test 1898 (38.2 Fib of the drop) and then go down.
and
1895th is a WPP
and imo this range we have right now
...and Wolfe Wave pattern has 1830th area as a target as well
H4 with so many thing on
thank for your opinion.., it's always pleasure...
dolce vita
- #5,128
- Feb 10, 2023 3:38am Feb 10, 2023 3:38am
- Joined Dec 2021 | Status: hungry for pizza & burgers | 2,542 Posts
Hi All. Hoping you can educate me here. Why did we see the sudden drop in the gold price yesterday? Surely the unemployment claims number would have put some doubt on future interest rate hikes by the Fed and would have been a bit more positive for Gold? Just when I think I understand the dynamics driving Gold my account gets knocked again
https://www.foxbusiness.com/economy/...ars-return.amp
this means that the FED can hike more and keep the rates higher for longer than what the market expects, affecting the price of gold
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
- #5,132
- Feb 13, 2023 12:49am Feb 13, 2023 12:49am
- Joined Aug 2010 | Status: Trader | 5,476 Posts
daily with fib of this year
dolce vita
- #5,133
- Feb 13, 2023 12:54am Feb 13, 2023 12:54am
- Joined Aug 2010 | Status: Trader | 5,476 Posts
and
if someone is interested
crude
daily with fib, tl & stoch
if someone is interested
crude
daily with fib, tl & stoch
dolce vita
daily with fib of this year {image}
"Who Dares Wins"
- #5,136
- Edited 2:51am Feb 13, 2023 2:40am | Edited 2:51am
- Joined Aug 2010 | Status: Trader | 5,476 Posts
{quote} Thtank you, Babayaga for your heavily technical insight! So it could go down to 1823, that's a good place for finding value and start a rally to 2000 again, otherwise 1800. Lower than that and we are in a possible reversal again
.., 1850th is "holy, sacro" number.., has not been printed yet.., sorrylet's guess looking at weekly
may we say that price felt out & rebounded.., (?)
there is inside bar at left side that I'd like to mention with H:1847.78 & L:1827.64..,
under the 1845th is "CAN BE"down to me.., until then...
...and btw WPPs are 1869th (classic) & 1874th (DeMark's).., DeMark's WS1 is 1858.76.., where price is right now
stay safe
dolce vita
- #5,138
- Feb 13, 2023 7:28am Feb 13, 2023 7:28am
- Joined Aug 2010 | Status: Trader | 5,476 Posts
possible wolfe wave pattern
M15
with 5th point around 1850th and target around 1866th
M15
dolce vita
possible wolfe wave pattern M15 {image}with 5th point around 1850th and target around 1866th
"Who Dares Wins"
- #5,140
- Feb 13, 2023 11:36am Feb 13, 2023 11:36am
- Joined Aug 2012 | Status: Love for all; Hatred for none | 3,566 Posts
Love for all; Hatred for none.