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Daily Gold Analysis

  • Post #81
  • Quote
  • Edited 6:15am Aug 27, 2020 5:40am | Edited 6:15am
Quoting BigBangs21
{quote} > Business can take on a new nature every minute. We should never marry a particular analyst. We must prepare ourselves for any move in the market
My analysis is based on the expectation of Jay Powell's speech at 2.10 London time today
Gold did drop during the Asian session - and it did rally shortly from London open (and Frankfurt)- as predicted
However, COMEX is a US market....and so that is where the volume will come from..so should have made that qualification
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Now look at it...

And not a MACD, TDI, RSI in sight
called hours before hand
Because I know what drives the market

1975 being defended....
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The best trade and my favourite though is the "sell the news "
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Quoting SFundamental
Now look at it... And not a MACD, TDI, RSI in sight called hours before hand Because I know what drives the market 1975 being defended.... {image}


The market also intends to play small traders. You have to be smart, you must not fall prey to market fraudsters
Quoting BigBangs21
{quote} The market also intends to play small traders. You have to be smart, you must not fall prey to market fraudsters
Well I called the long from London, said that there would be liquidity going into Powell's speech- and that 1975 would be defended (ie I would look to sell from there)
That's 3/3 in 24 in 24 hours all in advance.
Quoting SFundamental
{quote} Well I called the long from London, said that there would be liquidity going into Powell's speech- and that 1975 would be defended (ie I would look to sell from there) That's 3/3 in 24 in 24 hours all in advance.


it's true . Well done to you was a good analysis
Triangle formation in day chart
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That red line is new formation gold is going to that direction if down trend continues it can target $1850
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Gold starting to look expensive for me
Finally moving...
but not from an important level
Plus there was a load of buying at 1905
BOC tomorrow might help
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Fancy some short Gold - but not really happy about the dollar
  • Post #94
  • Quote
  • Edited 6:22pm Sep 9, 2020 3:08pm | Edited 6:22pm
Fundamentally, why would you buy the dollar...........PPI and CPI estimates this week are very poor
Might just get a pullback
However, the ECB are really meant to be smarting for a lower EURUSD
It may be that in light of the recent strong US data they might hold fire..
Need to do a bit of reading...
My concern is that there is scope to rally the euro- before it comes off
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gold long
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Next week might a bit of range.
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Trading is SIMPLE not EASY.
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