Gold

Getting back to that shitty zone 2630-2650 wud be aweful

I think we will continue to grow

I tend to lose interest in peoples analysis when I see they have a position, because it becomes biased at that point. Even if it does line up with my analysis, it's usually a "oh, he's only saying that because he wants it to happen"

Need more neutral takes on here like this for example, where we've broken out of this bearish channel and are retesting the old support now turned resistance of 2630, if we break that then we're in the range to 2650, however failing that and we can see another retest of the resistance of that bearish channel now turned support at roughly 2616

I don’t recommend anyone to open deals, I said my opinion, I’m not a professional in this matter yet

Fast reply

это был ответ на этот пост я не знаю почему он выбрал тот
it was a response to this post i dont know why he chose that one

I think gold will sell off in January when trump makes office

2636.070 to be hit..
Friday is not complete yet! Needs a little help from his sister Monday...

IMO, Trump won't last four years in the job. At which point Gold will be on the up again.

Now talking very serious...
We are bearish in the weekly until we reach 2563.220
We are bearish in the daily until we reach 2585.610
In Monthly we have no bias yet.
In 4H we are bearish until we reach 2585.610 also
In 1H we are bullish but having into account weekly and 4H, can counting with a reversal, This time frame is in constant changes, so i advise follow this one with your patterns to the downside.

This bias are based in a price pattern not a trend strategy! After price reached has no more value until a new one appear.
It will be wise take partials and let a runner because monthly is more likely to change bearish in my opinion if December close below 2634.690.

hit trailing stop. I do not update . I will start a new week.

I don't think : I have reached the red level. I'm really happy and I will share more.

I hate lies and red level cunning guys, please see my diary.

Happy New Week everyone!

We had a reversal day of Friday.
So, I am B$ 2616 and 2604 limit orders on market open tonight. SL 2598 Woodie Pivot 2616 and first target 2658.

All the best this week in Jesus' Christ name. Amen

My long term view of gold is that we have been from march on a parabolic move upwards.




This december we have seen a huge sell off, even with news of the possibility of an increase of the war situation, something that apparently doesn't have very much sense, but that surely has attracted many buyers to gold. Also the media is this month recommending buy gold:
https://www.cbsnews.com/news/reasons...s-before-2025/
https://www.wsj.com/finance/commodit...-says-1ef53e50
https://www.ubs.com/global/en/wealth...-17122024.html
https://www.kitco.com/opinion/2024-1...lical-low-here

So my outlook is very bearish on long term gold. But as happened at the end of 2011 and 2012 we could have a choppy market trying to accumulate as much sell orders as possible.

On the weekly chart I see a clear bearish market, with very strong rejections of the movements up. We have support at 2535 that is stopping the way downward. Last week we had a bear candle with a not too big tail neither a too big body, so from this last candle is uncertainty if the movement will continue down to test again 2535 or will this week try a new incursion up. But 7 of the 8 last candles are bearish.

For the short term, last day price rallied to the resistance of 2633 but was rejected before touch it. The rejection was not very strong, but we are now on a movement down.


With all this considered, I will be looking at what happens if price test again the 2633, or if it goes down and breaks the 2605 support, to have more clarity about what expect this week.

In my opinion the big sell off of the FOMC announcement is a strong level and will protect prices to go up again for some time. Added to the bearish market of last weeks, makes me think that what is more probable this week is a continuation of the move down. and a new test of the 2580. But as I said, I would like to see what happens if price test again 2633.

Considering the time of the year, we could have also a slow ranging market this week.

B$ LO