Introduction - Bulls are holding 43-year trend line at 2360s while NASDAQ bears formed a soft ceiling at 2400 that should hold past through May 1st FOMC. The result has gold range bound, predominantly between 2367-2392 for the incoming nine trading days, after which gold should head for 2444 and higher.
Details - Follow up to 9-1 DRAFT's failure to break out...
Gold can do anything right now.
I am not trading breakout.
There are a lot of stop loss hunters.
I will keep close at those two tread lines.
Engage trades when not broken.
Today’s gold trading situation is as follows:
1.Xauusd: @2380.62 Sell, SL:2386 Loss: -$1614
2.Xauusd: @2388 Sell, TP:2372 Profit: +$ 9600
3.Xauusd: @2389.72 Sell, TP:2372 Profit: +$ 10632
To be honest, today gold first rebounded to 2392 and then started to fall, which caused our short position in the 2380-2382 area to touch SL: 2386. To...
FX:XAUUSD is trying to consolidate above 2365. This area is an intermediate bottom and plays an important role for the bulls in the medium term. The range of 2365-2400 is being formed.
Idea of Apr. 16: GOLD → There's no limit to the bulls' activity. Support retest
In general, everything is the same, but after a strong rally, the price makes a small stop...
Simple as can be 2365-2360 has held up the last 4 days, I'm expecting the resist to hold up and we can get some nice long positions at 2364 level. Let's fold our hands and wait to see the reaction at support on the LTF (lower timeframe).
It is important to factor in key economic data and compare the movement of the dollar (DXY) to try and figure out what is...
Today, gold continues its upward momentum, eyeing the $2,400 milestone. Fueled by a weakening U.S. Dollar and subdued Treasury yields, gold remains a safe haven amidst global uncertainties. However, attention turns to Federal Reserve policymakers whose upcoming speeches may sway market sentiment. Stay tuned for key economic data releases and policy whispers...
Gold's Epic Battle: Breaking Barriers and Scaling Heights 📈💥
In the volatile realm of trading, where charts morph and indicators pulse with life, gold finds itself at a crossroads. Picture the scene: on the trading canvas, amidst the flurry of candlesticks and the dance of moving averages, gold emerges as a gladiator, grappling with the shackles of "overbought...
Fundamental analysis:
Gold futures in New York extended their record rally on Tuesday, buoyed by buying momentum and geopolitical risks. COMEX gold futures rose 0.89 percent to close at $2,372.00 an ounce on Tuesday, after hitting an all-time high of $2,384.50 an ounce earlier in the session and hitting a record high every day since March 28. Investors are...
Market review
Spot gold on Friday (April 12) opened at $2372.2 / ounce, Asia-Europe trading hours, the US index in the $105 horizontal for several hours, the afternoon pulled up more than 30 points, the index hit a new high within the week. Gold continued its strong momentum, and the price rose directly to the $2,400 area without adjustment. As of now, the gold...
Trading is a trial and error process! In the case of continuous errors, the main problem is the shrinkage of funds and psychological suffering! A trader must reduce the probability of mistakes, because your profit comes from someone else's loss. That is to say, when someone makes a mistake, there will be profits for people to earn in the market, but you can't...
On Wednesday (April 17), spot gold maintained a volatile trend, reaching a high of $2394.22 and a low of $2372.61. It was trading at $2,381.69 an ounce, down 0.02%. Gold has regained traction after rebounding from last week's all-time high of $2,431 and once again falling below the psychological level of $2,400 an ounce. Overall gold market sentiment remained...
In the recent gold market, the overall uptrend structure has not changed, although the price has retreated after surging above $2,430 / oz. This pullback is seen more as a market correction than a reversal of trend. In the big cycle, the bullish upward pattern of gold is still solid, and it is expected that after the correction, the market will continue to...
Today’s gold trading situation is as follows:
1.Xauusd: @2380.62 Sell, SL:2386 Loss: -$1614
2.Xauusd: @2388 Sell, TP:2372 Profit: +$ 9600
3.Xauusd: @2389.72 Sell, TP:2372 Profit: +$ 10632
To be honest, gold first rebounded to 2392 today and then started to fall, which caused our short position in the 2380-2382 area to touch SL: 2386. To be honest, the short-term...
Gold rose by more than 20 US dollars today, reaching a maximum of above 2,392 US dollars.
The price of gold fell rapidly after being affected by the resistance above and the news. If it cannot fall back to the 2370 or even 2360 area, it will inevitably usher in a rebound, and it may try to move towards $2,400 again.
If you have questions about trading, you can...
The price of gold is currently located near the middle track of the one-hour and four-hour Bollinger Bands.
We can wait for the gold price to fall back and go long at the low price, or go short at the high price after the rebound.
What needs to be paid attention to above is the 2395 level. If it breaks through and can be stabilized, look up to the 2400-2405...
This is a much longer term, Weekly Candles, Chart on Gold to supplement my other short-term posts on the price action.
We can see that Gold is firmly in the long term uptrend channel and actually currently below the mid-line of that channel so, not 'over-bought' as far as I am concerned.
There is a clear long term 'Cup & Handle' pattern which gives a circa $2,600...
