Just an informative chart for followers.
Some were asking why there was no spike downwards like normaly it should be, and why there is yet to be any pullback / correction.
Because too heavy shorts were in the gold and too heavy longs in dollar.
Checked with one of Bankers that I know who is working with largest banks in the world ( not saying the source ), Yesterday in just one sector their customers had 67$ B in Gold shorts and 115$ B in Dollar longs ( overall )
And it is just one sector of brainwashed sheeple that did blah blah about how rate hike will hit the gold and bring dollar to the moon.
So in other words that money is trapped now.
Human nature - most of this money will still be in just because they do want gold to pullback to eliminate the loses, but what MM want to happen is get them in hedge positions. They are not that interested in individual/company just closing the position with loss, they are more interested to get them in hedge, that is what they want and what they like, then the real game starts.
Huge money is left down there and part of it is still floating.
I am not interested in this aspect as I am intraday tech/math trader. Still waiting for 1247 and was building gold longs way before the hike day.
But overall this is why I hate fundamentals, I never follow them, and never get involved in them.
Just some of the most popular quotes from TV:
" If Trump will be a president, Gold will fly to new highs "
" If NFP will beat ( Last Friday / March / ) - Gold will be under 1180 in no time "
" If they hike the rates, bloodbath in gold "
Maybe thats already enough? If this is not working as a confirmation and you still go blah blah about what will happen on this and that ( fundamentals ) all I can say - yeah some people never change.
Techs point out the direction ( in most cases ) way before fundamentals arrive. Fundamentals just fill the direction, is what I believe in and bring the volatility that we traders love, so market is not ranging.
Now look for excuses why it did not work out and dollar tanked while gold fly up on rate hike. Some are good at that too.
Take care peeps.
Some were asking why there was no spike downwards like normaly it should be, and why there is yet to be any pullback / correction.
Because too heavy shorts were in the gold and too heavy longs in dollar.
Checked with one of Bankers that I know who is working with largest banks in the world ( not saying the source ), Yesterday in just one sector their customers had 67$ B in Gold shorts and 115$ B in Dollar longs ( overall )
And it is just one sector of brainwashed sheeple that did blah blah about how rate hike will hit the gold and bring dollar to the moon.
So in other words that money is trapped now.
Human nature - most of this money will still be in just because they do want gold to pullback to eliminate the loses, but what MM want to happen is get them in hedge positions. They are not that interested in individual/company just closing the position with loss, they are more interested to get them in hedge, that is what they want and what they like, then the real game starts.
Huge money is left down there and part of it is still floating.
I am not interested in this aspect as I am intraday tech/math trader. Still waiting for 1247 and was building gold longs way before the hike day.
But overall this is why I hate fundamentals, I never follow them, and never get involved in them.
Just some of the most popular quotes from TV:
" If Trump will be a president, Gold will fly to new highs "
" If NFP will beat ( Last Friday / March / ) - Gold will be under 1180 in no time "
" If they hike the rates, bloodbath in gold "
Maybe thats already enough? If this is not working as a confirmation and you still go blah blah about what will happen on this and that ( fundamentals ) all I can say - yeah some people never change.
Techs point out the direction ( in most cases ) way before fundamentals arrive. Fundamentals just fill the direction, is what I believe in and bring the volatility that we traders love, so market is not ranging.
Now look for excuses why it did not work out and dollar tanked while gold fly up on rate hike. Some are good at that too.
Take care peeps.
Comment:
Some of them started to hedge. MM dream...
Comment:
Why hedge is more interesting rather than just closing the trade?
If I am the big BOSS, and porr soul just closed the trade in minus I get fixed profit.
If poor soul is hedging he is paying me interest every 24 hours.. he is paying me spread... money is frozen.. and 90% of cases Hedge leads to stop out, because heding is something you need experience with. Then poor soul is throwing in more cash to save account.. long term money making business rather than just take the cake right away.
If I am the big BOSS, and porr soul just closed the trade in minus I get fixed profit.
If poor soul is hedging he is paying me interest every 24 hours.. he is paying me spread... money is frozen.. and 90% of cases Hedge leads to stop out, because heding is something you need experience with. Then poor soul is throwing in more cash to save account.. long term money making business rather than just take the cake right away.
Comment:
Any Time soon when they take all they can gold is going for a pullback for target 1220... Someone is still struggling so no pullback! Money Makers have some nice business eh? :D