SteadyFund

SteadyFund

Not as expected, Gold didn't retest 2400 zone but went straight down. This is a lesson learned to control risk and have patience. There is always trading opportunities. No need to rush into a trade. Forcast next week: Gold should first go up to 2364 then to 2290. Happy weekend and Have a balanced life.

SteadyFund

Technically Gold is still stuck in 2313-2333 range. Daily perspective, it's still bearish. I will not go long from here. Today's main strategy is still sell.

SteadyFund

Gold didn't break 2325 yesterday and form a red daily candle. This is a sign of bearish continuation. I will only short today. Expecting from 2325 zone and targeting 2300.

SteadyFund

After water fall, Gold should retrace at least to 2354 level. Daily candle didn't break 2305 yesterday, indicating retracement is coming. We should have couple of days bulls running before short opportunity appears. Today we will try to buy from 2310-2315.

SteadyFund

Gold didn't provide a spike again at the beginning of this week but delivered a waterfall. In regards of the weekly channel, Gold should not fall below 2325, which will be monitored closely. If broken, should go all the way to 2250. If not, it will retrace to 2355-2365. Watch out for the signals in lower timeframe.

SteadyFund

As illustrated in the chart, I am expecting Gold to rise to 2400-2410 and then fall again at least to 2380. After the conflict in middle east, Gold should come to normal trading behaviours now.

SteadyFund

In my opinion, Gold is now in its 5th wave. Within this 5th wave, there are 5 waves and current in its 5th wave as well. Gold is going to reverse into temporary correction and should correct until 2305. Afterward, it will rebound to at least 2430 and close May in slightly green candle. Then Gold will engage several months of correction toward 2135.8. From...

SteadyFund

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.

SteadyFund

All structure lines have been broken. Sell from 2375 region. Targeting 2329

SteadyFund

Beware of the triple top formation for Silver. It's possible Gold will have a huge drop today. But in regards of current war tension, it's better to trade in range today. Buy: 2365 Sell: 2398 Do not hold trade overnight. Market is not normal these days.

SteadyFund

Gold has survived 2325 support and closed with strong daily bullish candle. And it also broke 2365 resistance. Looking at lower timeframe. Gold should retrace to bullish trend line which is from 2355-2365 level. Then we can buy from there. Will only engage buying order today. Reminder to all and myself: Patience is the key! There is always chance in...

SteadyFund

From Monthly comparison with 2008-2010 period, they have similar structures. Gold should close this month with positive candle and follow by a negative one next month. Then it will retest previous resistance turning into support. Weekly comparison, we should see a red candle in the coming week. But there is another possibility in consideration of current...

SteadyFund

Bulls took over again yesterday. They have no sign of slowing down. Today's strategy is still buying. Expecting another ATH today. But I will wait until 2352 pivot point get touched. Remember today is Friday. Market will fluctuate a lot.

SteadyFund

Gold behaved almost according to what I predicted yesterday, but it didn't trigger my selling limit at 2364. I was able to catch the ride when it retraced to 2350. Today we can sell from 50% retrace at 2339 and targeting 2309.

SteadyFund

Gold indeed form a hourly double top at 3358-3365. Today before CPI data release, we can trade range. Support: 3343.5-3346.5 Resistance: 3362-3365 We should see serious correction after today's session.

SteadyFund

Daily candle was closed on positive note. Another ATH was reached during Asian session. After that, Gold was kind of consolidating from 2322-2342. 5th wave should end pretty soon. Buying needs to be cautious. Monitoring closely at 4hourly timeframe for possible rising wedge formation. Once formed, we could see price correction until 2300 first. If not formed,...

SteadyFund

Bullish for today. Gold has retraced to 2300-2305.8 level. Buy toward 2350.

SteadyFund

Elliot Wave Analysis Currently gold is at the 5th leg of the 3rd wave. This 3rd wave should at least extend to 2358.8 before some consolidation. The final wave (5th wave) should be reached anytime before Jun the next interest rate cut. Once interest rate cut happens, we should see a few months' correction. Trade with caution. Fund security is No 1 priority.