Gold

M5 volume is close to equal level between buyers and sellers but did not flip yet. I will wait for FOMC.

I have seen your trades and yesterday they were great! So, today I took a chance and was able to act on the first and the last but missed the middle one because I was sleeping. As you know, the middle one was the winner... We are too close to FOMC. But I only did 0.01 each to test.

I;ve taken buys anticipating 1984 level to be retested before end of week based on my price action analysis

Gold Reversal Scalp Trade

Trade 1 Open Price: 1959.89
Trade 1 Close Price: 1959.93
Pips = 4 (Closed at Break-even)

Trade 2 Open Price: 1957.84
Trade 2 Close Price: 1959.97
Pips = 213

This one was difficult trade, since i was trying to time the price reversal. Bearish trend today have went through all the previous demand zones like knife through butter.

Price went low and one point hit the low of 1956.71, so i decided to add another buy position (Trade 2).

Overall price jumped one again; at which point i closed both trades (Didn't want to hold on to any position before i go to bed)

Did anyone else tried to time the price reversal?

Very nice...

XAUUSD LONGS....tight SL

FOMC minutes in 38 mins.
Might move the price.

out of curiosity whats your target?

I trail my stops I don't have a specific target for my XAUUSD trades, but 1988 ain't bad

Very quiet so far

Sl at BE, Risk free trade now i trail my stops and get the most out of this trade

No major movements...

Gold rallied a bit, but well, a bit.
Gold bulls will be looking for 1965 and 1970.

I was expecting quick upward move but nothing happened and apparently it look like that bears are controlling the market so far.

Bulls will try to bounce here (1959/60).

got stopped out the trade, I'll be looking for another entry

Entered a buy at 1958.

[quote=FxSnapper;14436705]{quote} No major movements... Gold rallied a bit, but well, a bit. Gold bulls will be looking for 1965 and 1970.[/quote

What your analyzation for Gold will we see a bullish market it seems to be resisting 1950.

Levels respected today. What's next?

I got stopped out my previous Gold trade, but I'll keep looking for new entries despite Gold consolidating....Still bullish bias as we still haven't broken through support fingers crossed Gold push through the 2000s area and to the moon

Daily Gold Strategy
Currently, the debt ceiling negotiations and speeches by Federal Reserve officials continue to dominate the market, with the importance of economic data taking a backseat this week.
It should be noted that during the opening trading session today, Fitch put the US rating on negative watch, which could result in a downgrade of its AAA rating. As a result, gold prices rose in the early Asian trading session. It remains to be seen whether this will have a lasting impact.
Below is today's gold price range calculated based on the gold pricing model:
Turning point: 1965 (bearish below this level)
Operating range: 1944, 1970
Broad range: 1937, 1980
Looking at the one-hour chart, there is a trend where the 50-hour moving average, 100-hour moving average, and Bollinger Bands midline intersect at the 1968 level, which is close to the highest price calculated for today.
Today's trading plan
If the gold price rises first to the 1965-1968 area, we will first observe for three minutes to see if it can break through the three resistances (50-hour moving average, 100-hour moving average, and Bollinger Bands midline).
We are concerned that the news of Fitch putting the US rating on negative watch may continue to impact the market.
If the price rises to the 1965-1968 area and the fluctuations are slow, we can takea short position with a target of 1945 and a stop loss reference of 3-5 dollars above the 100-hour moving average.