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Gold

  • #38,881
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  • Edited 7:22am Aug 19, 2024 1:11am | Edited 7:22am
Morning everyone, I hope it is a profitable week for all. It seems like Gold is battling for 2500, and I hope it gives it up.

Hopefully this week will turn bearish, and get to buy dips as we go. 2483 (previous ATH) has to be tested.
"Live & Let Live" - David Gilmour
Morning y'all

So far so flat, like someone mentioned Asia ain't interested in gold by the looks of it, will be waiting for London open I guess.

Hope everyone sees blue this week!
Fate goes ever, as fate must.
Quoting Catempire
{quote} Ravenfeeder. Surely if it came down… you would create a long wick in the process ?! Regarding Gaza news, https://www.washingtonpost.com/world...war-news-gaza/ imo there isn’t going to be a ceasefire because that’s not what big balls want… the noise of such is picking up because of the protests in the USA regarding Biden being complicit on the matter, seen to do the right thing.. America “stop fighting” also America “Israel here’s $13b for ‘defence’ spend it wisely” its BS. just because it’s in the news...
Agreed,
Todays finance world, not only the actual orders of a security moves price, but it compose of spot, futures, efts, options. When flow of funds moves, both domestic and global, the price movement is large, because the funds move in large quantity at once. The opposite side dont have enough power to absorb that large movement. It moves aggressively to fill passive orders.
More time in the market, does not mean you trade better!
seems like going to down fiercely
Gold Price Channels
Gold is too high now, I wonder who would buy here at $2,500 and for what ?
some'super'body has always second opinion against us the retail trader
Gold Price Channels
Quoting GPChannels
some'super'body has always second opinion against us the retail trader
Price needs a correction, many retail traders would be reluctant to take longs at this high or will be monitoring longs from down below, as is evident by PA so far. London open should flush in some volume which could have some movement up/down.

Patience is key!
Fate goes ever, as fate must.
Margin is calling and I have to be super patience
Watching pa , take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
Guys, can you help to explain why USD is still falling despite the surge in last week's US retail sales and better unemployment claim ?
Quoting khoasg
Guys, can you help to explain why USD is still falling despite the surge in last week's US retail sales and better unemployment claim ?
Overall the economy is down, markets haven't recovered from last month's NFP yet and the reports leading upto it, even though the labor market seems to be tightening again its not enough data to show that the economy is recovering.

Safe haven appeal during the war and interest rates is literally what kept DXY up all this time or it should have got under 100 by Q1 '24

Retail sales is seasonal it's not a strong enough indicator to shift market sentiment, labor market seems to be tightening again so a convincing NFP report could change momentum, but for now, its downhill for the DXY. Japan increasing their interest rates also pushed a lot of investors to liquidate longs (carry trades) to cover margin calls, that's a factor for its weakness as well.
Fate goes ever, as fate must.
Quoting worldbankinc
{quote} UPDATE : Signal 43-2024 BUY order hit TP {image} {image}
Hi, Your order 43 buy & sell hit SL before the last buy hit TP, How do you manage this?

Regards,
Baktha.
Quoting khoasg
Gold is too high now, I wonder who would buy here at $2,500 and for what ?
took some weekly calls
Que Sera
Anyone any views on how BRICS could effect XAUUSD ?
Que Sera
This hasn’t finished going up yet…

imo… far more likely to see a large move upwards & then the retrace / pullback will be stronger & faster.
Que Sera
It looks like pullback started.
Confluence support H1 2490-87
H4 2426-20

Market will go to 2520 but this pullback has to finish first.
Join us free:https://harmonicsprotrader.com/
Quoting Catempire
Back during Covid, I called the top on the S&P by about 10 points using the most simplistic chart & observing the geopolitical landscape. personally… given where we’re at… I think there is a very high probability of this move following suit, (short lived) no where near the fun on the way down but pips to be had no doubt. {image} {image}
Yeah you can often connect swing points and get a nice hit or call

I've made some great calls using Gann angles

EVERYTHING is linked - geopolitics, market movements - one has to happen, to cause the effects - at precise key points in both time and price it all comes together

The hard part is piecing it all together
THT
It seems no one is interested in buying or selling, waiting for the US zone to start
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Quoting pedro319
It looks like pullback started. Confluence support H1 2490-87 H4 2426-20 Market will go to 2520 but this pullback has to finish first.
Support at 2485 that's me waiting there to pull trigger and take my greens
average dude treading water
Stopped out at BE twice so far, waiting for a candle close either below 2500 or above 2506, don’t wanna trade this range bound PA.
Fate goes ever, as fate must.
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