HI ALL AND WELCOME BACK.
YESTERDAY'S RECAP!
As you can see from my last comment section i was anticipating for a MINOR PUMP up i saw it ending at around $1966-70 and we saw it but it extended a bit further to $1976, when all the other TRADERS were still concentrating on that fall i saw the RISE and it went accordingly and since i had an early entry i made good considerable profits.
Today's analysis.
We have our traps set at $1980 and $1983 once we see these traps broken then seeing $2012 won't be hard although at the same time you need to consider the candle pressure and Price Action Patterns.
For a fall to be seen we need to see level $1963 and $1958 broken and once they are broken then seeing $1930 and lower is possible.
Meanwhile looking at our charts carefully we can see that from the one hour chart we having a rebounce to the upside the same applies in 2 hour chart, 3hour and 4 hour chart, so generally speaking i expect to see $2012 today and after that then we will have room for further analysis.
In our 1hour chart we could see a very clean DOJI CANDLE formed which gave me enough confidence to buy although i had to evaluate further, the DOJI candle is still in play as of now, acting up and giving us some extra $ meanwhile let's be extra cautious because we are actually trading in what we call a DOWNTREND on the MAKE, so all buys need extra evaluation in such a trend otherwise we might end up SCREWED CLEAN!
The UPWARD move is possible and i'll be updating later on, but as of now let's look into 2012 with a bit of CAUTION!.
Up until then, do wish you a wonderful trading day ahead! be back later with an update
YESTERDAY'S RECAP!
As you can see from my last comment section i was anticipating for a MINOR PUMP up i saw it ending at around $1966-70 and we saw it but it extended a bit further to $1976, when all the other TRADERS were still concentrating on that fall i saw the RISE and it went accordingly and since i had an early entry i made good considerable profits.
Today's analysis.
We have our traps set at $1980 and $1983 once we see these traps broken then seeing $2012 won't be hard although at the same time you need to consider the candle pressure and Price Action Patterns.
For a fall to be seen we need to see level $1963 and $1958 broken and once they are broken then seeing $1930 and lower is possible.
Meanwhile looking at our charts carefully we can see that from the one hour chart we having a rebounce to the upside the same applies in 2 hour chart, 3hour and 4 hour chart, so generally speaking i expect to see $2012 today and after that then we will have room for further analysis.
In our 1hour chart we could see a very clean DOJI CANDLE formed which gave me enough confidence to buy although i had to evaluate further, the DOJI candle is still in play as of now, acting up and giving us some extra $ meanwhile let's be extra cautious because we are actually trading in what we call a DOWNTREND on the MAKE, so all buys need extra evaluation in such a trend otherwise we might end up SCREWED CLEAN!
The UPWARD move is possible and i'll be updating later on, but as of now let's look into 2012 with a bit of CAUTION!.
Up until then, do wish you a wonderful trading day ahead! be back later with an update
Comment:
The Pump has an extension even further, let's be on the look out guys, we are about to have some fun but also be cautious! we could see $2015 then experience our fall.
Comment:
Gold prices extended gains on Thursday after the Federal Reserve signalled a potential end to its monetary tightening cycle could be on the horizon.
Spot gold GOLD was up 0.3% at $1,975.73 per ounce, as of 1110 GMT. U.S. gold futures
GOLD gained 1.6% to $1,980.3.
"The thought of peak U.S. rates being within reach is bolstering prices of the zero-yielding precious metal," said Han Tan, chief market analyst at Exinity.
"As long as market expectations for a 2023 rate cut remain intact, gold may well revisit the psychologically-important $2,000 mark."
The Fed on Wednesday raised rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs given concerns about the banking sector after two U.S. lenders collapsed earlier this month.
Fed policymakers believe beating back inflation may require just one more interest rate hike this year. However, Fed Chair Jerome Powell in his news conference warned that the Fed would do "enough" to bring inflation down to 2%, and raise rates higher if it needed to. (FEDWATCH)
Goldman Sachs raised its gold price forecasts, describing it as the best hedge against financial risks, joining similar upward revisions by Citi, ANZ and Commerzbank.
Gold on Monday hit a one-year high, breaching the key $2,000 on safe-haven demand spurred by the banking turmoil, though later ceded some ground after the rescue of Credit Suisse.
Gold needs to break above resistance at $1,998-$2,000 to open the door to $2,009 and on the flip side a break below support at $1,960 could open the door to $1,934, said Fiona Cincotta, senior financial markets analyst at City Index said in a note.
Meanwhile, the Bank of England is expected to raise interest rates for the 11th time in a row later on Thursday.
What should we expect?
Spot gold GOLD was up 0.3% at $1,975.73 per ounce, as of 1110 GMT. U.S. gold futures
GOLD gained 1.6% to $1,980.3.
"The thought of peak U.S. rates being within reach is bolstering prices of the zero-yielding precious metal," said Han Tan, chief market analyst at Exinity.
"As long as market expectations for a 2023 rate cut remain intact, gold may well revisit the psychologically-important $2,000 mark."
The Fed on Wednesday raised rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs given concerns about the banking sector after two U.S. lenders collapsed earlier this month.
Fed policymakers believe beating back inflation may require just one more interest rate hike this year. However, Fed Chair Jerome Powell in his news conference warned that the Fed would do "enough" to bring inflation down to 2%, and raise rates higher if it needed to. (FEDWATCH)
Goldman Sachs raised its gold price forecasts, describing it as the best hedge against financial risks, joining similar upward revisions by Citi, ANZ and Commerzbank.
Gold on Monday hit a one-year high, breaching the key $2,000 on safe-haven demand spurred by the banking turmoil, though later ceded some ground after the rescue of Credit Suisse.
Gold needs to break above resistance at $1,998-$2,000 to open the door to $2,009 and on the flip side a break below support at $1,960 could open the door to $1,934, said Fiona Cincotta, senior financial markets analyst at City Index said in a note.
Meanwhile, the Bank of England is expected to raise interest rates for the 11th time in a row later on Thursday.
What should we expect?
Trade active:
That's it our BUY ENTRY running profits as expected, I am now relaxed awaiting my TAKE PROFIT zone to be hit and then analyze further for our FALL, this should be our last PUMP as planned but until we take down our take profit zone anything could happen..
Comment:
Change of plans, play safe we could not go as expected we might have a rebounce earlier than expected mainly within $1995-98, so play safe be cautious and on the look out meanwhile an engulfing pattern is formed up there we could have one minor last pump and then have our fall, mainly i expect consolidation for a while then we should experience our fall.
Trade closed: target reached:
Guys see you tomorrow, i've got a terrible headache but target achieved i also have some few entries running, and yes i do have some pending sell orders.
If you got any questions feel free to ask on the comment section below, you can even direct message me if you want it in private.
I'm done for the day!
If you got any questions feel free to ask on the comment section below, you can even direct message me if you want it in private.
I'm done for the day!