Trading is all about having an edge in the market, regardless of what instrument it is. After such a huge drop in gold and further decline afterwards, selling at such levels would be the equivalent of gambling on a FOMO basis since you would not be ...

Gold

There is no way I am selling here or buying here. There is no price action to show that bulls are stepping back in. And selling here is basically gambling too because price has already overshoot and gone so far south that even if it does drop, ...

Gold

We broke 1807 and 1804 for a quick tap into 1798 region which was also past resistance. I won't invalidate any bullish moves unless price closes below 1758.82 for a lower low since we technically have a fresh higher high at 1873. Which means right ...

Gold

Well considering we are lingering around 61.8 retracement at 1804... And we are oversold on 1H and 4H time frames. I'm waiting to see if there will be any nice bullish price action to pick some buys into. Not gonna upload my chart, so just draw a ...

Gold

We've just touched 1807. I would see this area to be of significance especially after such a steep drop off. If we were to have a bullish December, this is probably calm before the storm moment. I won't rule out a retracement back to 1831 region ...

Gold

I wouldn't say it was bearish before crashing. Technically we broke 1831 high and went on to 1873. We just have to see if we form a higher low or lower higher now.

Gold

Well if I were to see the daily closing above 1832-1835, probably would feel that a strong bounce is coming. But this selling strength has to be respected.

Gold

So apparently it seems like the drop in gold was because Powell got re-elected for another term as Fed chair. Now on to the big question, to taper or not to taper.

Gold

That is true. Daily definitely looks very threatening. There may well be more strength behind this selling. Who knows we may even see 1800 again!

Gold

We've smashed right into the 50 retracement (1817.96) of 1758.82 to 1877.09. Sellers still looking pretty strong. Possibly going straight to 1807.91. 61.8 retracement lies at 1804 currently... But if we just keep going down, looks like we might have ...

Gold

Well it's breaking into 1829 pretty strong. Looks like sellers are stepping back in, but don't forget about December seasonals for gold. We may be getting a retracement here for another bounce to the moon again. 1H and 4H are starting to get ...

Gold

Based on price action so far, it looks like we have the chance to push lower towards 1835 for now. 38.2 fib lies at 1831.91 which also lies with various other past resistances. Should it break 1831 and re-enter Earth's atmosphere, I won't be ...

Gold

We have seasonal end Nov - end Dec / early Jan bullish gold coming up but at this point some reversal wouldn't hurt. But selling now might be a little premature. It would be nice to see a close below 1849 low to confirm a lower low is forming after ...

Gold

Daily was actually looking nice to short but USD falling slightly now causing gold to shoot up again. Still looking for some form of retracement to come in before seasonal bullish for gold.

Gold

Well that's one thing I'd never do. Gamble.

Gold

Well we have CPI coming up. Hopefully positive news will give us catalyst for gold to drop further. The current daily looks promising for a drop, hope it ends that way for some meaningful correction.

Gold

I think I agree with this too. Right now sellers are winning but there doesn't seem to be a real momentum push yet. It's just falling slowly. I'd love to see a double top followed with a strong bearish bar on 4H with room to drop minimally to 1807 ...

Gold

4H closed with an engulfing candle although it did not break previous candle's low. Gotta see if this is the start of a correction lower. If it is, I would really expect a test of 1807 at minimum.

Gold

Well it doesn't look like it wants to do that right now but seems like bearish divergence is forming on 1H.

Gold

1813 appears to be forming up as a support level now. Price went headlong into it and is bouncing now. 4H still threatening more bearish moves, will have to see how price reacts after this hour's close with a bearish engulfing candle on 4H to see if ...

Gold