Studying Fontu daily chart it is apparent that a quite clear channel is visible. Also a retrace to 1884.86 is possible this would fulfil the repeated support becomes resistance phenomena in markets. However how price movement will do this is an ...

Gold

Looks like the yellow metal this morning (London time) will trundle to at least 1825 then more ? Blow the stops around that price . Then meander on down blow all the stops below yesterdays L 1815. Just my take.

Gold

Bit early to tell . It could indicate a reversal . That won't happen today. Just my take.

Gold

Doji on the 4hr

Gold

From your excellent chart . It is quite clear how 38.2 served as support and 50.0 as support was almost entirely ignored. It begs the question will 61.8 equally serve as support.

Gold

Monthly chart with Macd. Crossover .Last time was February 2021 .H 1871, L 1716 O 1855, C 1738 . A decline of $155 Momentum below zero line . However that's set at 9, set at 12 it's above the zero line. Indicators can be tweaked.

Gold

Excellent Elliot wave analysis. Proving that 5th wave advances in commodities can be extended.

Gold

Good question. Basically this is what markets do. They go up and down and down and up. Buyers and sellers. Which is fortunate for us traders because if they didn't we'd not have the opportunity to try and make some money.

Gold

Bulls trying to prevent it going lower than 1857.

Gold

No short covering rally . The price would be 1890/1900 by now if this had happened . Just retailers buying some of whom will widen their stops before they capitulate later on . Just my take & could well be wrong .

Gold

OK In my opinion spot gold will take a breather at least till tomorrow . Been straight 11 1 hour bars down. Straight 13 bar declines very rarely occur. For the record: September 2011 H $1920 L $1532, declined $388 and April 2013 H $1603 L $1321 , ...

Gold

Thats my take also. It'll blow all the stops out around August low $1884 . So maybe go to $1875 . Then next week take off ? If it does not do that maybe trek on down to February low $1804. At some point however it is going to all time new highs past ...

Gold

Try and study the charts on the monthly , weekly and daily time frame and see the trend. This is a concept of the late great W.D.Gann.

Cable Update - Continued

Might go 930 but too late in the day for me

EURUSD only

image Maybe this. 1H . Highest being NY close Wednesday

EURUSD only

image

Cable Update (GBPUSD)

Birds become active due to light and temperature. Maybe a bird that gets up at 5.00 am regular has an alarm clock.

EURUSD only