i am, but purely because the lot size is so small and my profits really don’t take much of a hit even if we hit the 2645 figure being floated. Having this trade in play has really made me focus on the shifts that happen at certain times (Tokyo) and with the inflation data. It’s not all bad
{quote} i am, but purely because the lot size is so small and my profits really don’t take much of a hit even if we hit the 2645 figure being floated. Having this trade in play has really made me focus on the shifts that happen at certain times (Tokyo) and with the inflation data. It’s not all bad
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Glad to hear that you’re taking notes of the patterns.
It seems like the Trump effect is still in play and could last for a while. This isn’t surprising at all. The trend is obviously to the downside so gotta be careful with long positions unless you’re scalping
Joined Jun 2013
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Status: Trader by hobby not by profession
|7,045 Posts
so how many burned buying the dips? gold can easily fall to 2500 and sub 2400 as well if bitcoin continues to rally. infact any bitcoin rally is negative of gold.
so how many burned buying the dips? gold can easily fall to 2500 and sub 2400 as well if bitcoin continues to rally. infact any bitcoin rally is negative of gold.
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You are certainly right. We could easily see 24xx in the next few weeks considering how crazy gold has gone up this year. Trumps presidency was probably the nail in the coffin.
Of course there will be days where it will rally but sentiment is certainly to the downside.
so how many burned buying the dips? gold can easily fall to 2500 and sub 2400 as well if bitcoin continues to rally. infact any bitcoin rally is negative of gold.
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i opened long 2600 target 2632
do you think i will burn my account?
{quote} i opened long 2600 target 2632 do you think i will burn my account?
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Depending on how much equity you have in place maybe not. However, no one can give you the correct answer. Gold will do whatever the f it wants to do. Just be careful.
{quote} Depending on how much equity you have in place maybe not. However, no one can give you the correct answer. Gold will do whatever the f it wants to do. Just be careful.
{quote} There might be if you are patient. Might go down once it breaks below 2600 and further at 2593. RSI just turned downwards and downtrend seems to gain momentum.{image}
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I meant that there was no decisive move on H1 to the upside and hence had to close the buy trade.
Asia open H4 candle close will help me to decide if I join the selling.
{quote} I meant that there was no decisive move on H1 to the upside and hence had to close the buy trade. Asia open H4 candle close will help me to decide if I join the selling.
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Still would have been a good buy. If it doesn't break below 2593 then probably overnight a correction might be in play.
Also probably tomorrow it will be a more important day with Powell speech to get a confirmation regarding whether December interest rate cut is still in play or not.
{quote} You are certainly right. We could easily see 24xx in the next few weeks considering how crazy gold has gone up this year. Trumps presidency was probably the nail in the coffin. Of course there will be days where it will rally but sentiment is certainly to the downside.
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What's your guys opinion on how long this Trump Snowball will last? Certainly not looking good for Gold, as more people seem to dip in BTC.
{quote} What's your guys opinion on how long this Trump Snowball will last? Certainly not looking good for Gold, as more people seem to dip in BTC.
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Nobody really knows. Even if you say someone is 100 years into trading still they never will know the direction or when it'll stop unless you are using price action. But for new Highs nobody knows when it'll stop flying
{quote} What's your guys opinion on how long this Trump Snowball will last? Certainly not looking good for Gold, as more people seem to dip in BTC.
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His policies are seen as being inflationary which subsequently means a surge in the dollar aswell as the yield on bonds. These have an inverse relationship with gold which is non-yielding (no interest paid for holding).
This effect could last a while. The same happened last time he was elected back in 2016 also. Hence why most believe gold could easily be heading back to the 24xx range. But as we all know, anything is possible in this market so be extra careful.
high risk
