TheGoldmineFx

TheGoldmineFx

After a nice rejection from 2040-42 levels yesterday XAU wnet on to test 2030-25 levels finding short term support with US GDP data expected to come in 0.2% lower than expected so if GDP does print 3.1% XAU will find the impulse trigger buys to go and test 2040 levels once again trade safe

TheGoldmineFx

After an impulsive wave down from 2030 on the release of HOT CPI data XAUUSD has completed a primary wave 3 and now seems to be in the early stages of Primary wave 4 safe sell zones will be on the break of today's lows and safe buys above 1993-94

TheGoldmineFx

Gold had a nice Rejection from 2028-30 zone and finally Breaking 2020 support and gold went and found nice support around 2012-10 Asian and London session's has traded higher to go and test 2020-30. so will NYSE go and BREAK yesterdays lows?? best RR will be to sell from 2028-26 safest place to sell will be at the break of yesterdays lows the bullish scenario...

TheGoldmineFx

on the 30min time-frame gold looks to holding 2020-18 level time to for a leg up to encourage the sellers back into the market to break 2020 and test 2015

TheGoldmineFx

Higher degree signals we are in PRIMARY wave 2 as Primary wave 1 completed its 5 leg up from 09/2022 on the hourly from where primary wave 1 finished (188.55) we can see 5 wave down which ended in a leading diagonal for a intermediate wave A then up to retest the top to complete the intermediate wave B and now we are in the early stages of intermediate wave C...

TheGoldmineFx

very choppy price action after a very impulsive move down from 2044 to 2019 price had been in correction phase trade with the waves down to 2027-25 zone then up too 2040 to finish the cycle and ready for next weeks drop to attack 2000

TheGoldmineFx

if gold stays above 2032 and makes a nice impulse towards 2038 look for buys set ups DXY is in a minor pullback keep an eye on both

TheGoldmineFx

if gold stays below 2028 look for gold rejection between 2025-22 SL below the recent swing low

TheGoldmineFx

gold seems to collecting buy orders on a short term looking for gold buys to go and fill the imbalance

TheGoldmineFx

-Leveraging gold's foundational support amid rising Middle East tensions under Biden's administration. - Anticipating an upward movement in gold prices, as it resisted breaking last week's lows, this cold influence Non-Farm Payrolls (NFP) and Federal Open Market Committee (FOMC). - The USD (DXY) at the beginning of the week exhibits signs of fatigue, adding to...

TheGoldmineFx

Goldilocks - still stuck in a sideways movement, stay focused got a lot of landmines in the form of US red folder news this week

TheGoldmineFx

very low volume at the moment stay adaptive and don't get caught in sideways movement

TheGoldmineFx

higher time frame still showing signs of more correction waiting to happen. US data late today can trigger the sell off

TheGoldmineFx

Plan to trade on January 23 XAUUSD SHORT TERM BUY 2025 SL - 2022 TP - 2035 XAUUSD SELL zone 2036 SL - 2040 TP - 1995

TheGoldmineFx

After the price continuously scans from top to bottom and from bottom to top, the price will now tend to accumulate "liquidity" so our next trading strategy is to wait for a break out. If you break out of 2025-2026 TP1: 2040 If break out down 2019 2018 TP1: 2010

TheGoldmineFx

week commencing 22-27 jan 2024 minor pullback still in play gold still bearish with the US data last week (15-19) showing signs of strengthening and the market movers pricing in aggressive rate cuts in 2024 by almost 6 times dxy looks the strongest against cross pairs Side note if Geo political tensions rise in the middle east and Europe gold will thrive as a...

TheGoldmineFx

with US cpi figures tomorrow i do expect gold to drop and find support around 2000 lets wait for the set up

TheGoldmineFx

as the dxy struggles to find support gold continues to gain momentum nice head and shoulder pattern being printed on the daily