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Attachments: Daily Gold Analysis
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Daily Gold Analysis

https://www.tradingview.com/x/OsDWnqXl/
No one trades gold here?
I will tear the world apart for you.
Quoting Barnell
No one trades gold here?
I trade it - but no one really interested so...
Quoting SFundamental
{quote} I trade it - but no one really interested so...
I trade gold too, but I think it's just two of us, lol.
I will tear the world apart for you.
Ok...well I'll post some thoughts here tomorrow
I approach it from value- and like things to stack before trading
Quoting SFundamental
Ok...well I'll post some thoughts here tomorrow I approach it from value- and like things to stack before trading
That would be lovely, thank you.
I will tear the world apart for you.
Quoting SFundamental
Ok...well I'll post some thoughts here tomorrow I approach it from value- and like things to stack before trading
I trade Gold too and would like to see this thread going to share insights and setups.

In my view, gold has formed a strong supported now between 1890 and 1900 and resistance around 1910 area. Very small area for sideways move till US election. I am watching for a breakout to confirm direction.
Trading is SIMPLE not EASY.
I mainly look at Cable - but do trade other things- mainly if they are setting up
I was preparing for the ECB and BoC cash rate meetings, so have not totally got my gold head on

Here are my initial thoughts on Gold:

Pretty much at fair value
Things are a bit mixed
Certain correlations- negative
IV off- but approaching from a level they have bought before- so perhaps we could see something in the next day or so
1900 defended
But POC- improving

atm - etf look over-priced

Obviously, all are concerned about this election.
Japanese traders seemed to have pulled their currency back out of the system
So after the election long yen pairs seems to be in order

Also rates of infections - increasing in the UK and Europe. Talk of lockdowns in Europe- adding further pressure
Quoting SFundamental
So after the election long yen pairs seems to be in order
Excellent take, I feel the same too. I actually posted this yesterday:
Quoting Barnell
{quote} Yen pairs bulls are struggling, I think yen pairs buys are out till the election is over.
I will tear the world apart for you.
Quoting Barnell
{quote} Excellent take, I feel the same too. I actually posted this yesterday: {quote}
Great minds think alike
Gold down 0.3% at the moment and stocks are expected to open lower.
I will tear the world apart for you.
Cable hammered....driven up overnight on the + Aus CPI figures- but Europe lockdown
Attached Image (click to enlarge)
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Has Gold lost all footing as a safe haven? We have major equities sell-off and lockdown but Gold can't catch a bid? Granted, USD is strong, but such scenarios should see Gold and USD both move upwards.

Let's also not forget about stimulus..

I'm very keen to see how gold opens in 20 minutes.
I will tear the world apart for you.
Quoting Barnell
Has Gold lost all footing as a safe haven? We have major equities sell-off and lockdown but Gold can't catch a bid? Granted, USD is strong, but such scenarios should see Gold and USD both move upwards. Let's also not forget about stimulus.. I'm very keen to see how gold opens in 20 minutes.
It is BitCoin that took some shine from Gold, traders started using it like, safe haven against risk.
Feels right this time!
Looking for short trade. Confluence of Fibo 50, S/R, down trendline and a divergence too.
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Trading is not easy
Quoting xiaotiao
Looking for short trade. Confluence of Fibo 50, S/R, down trendline and a divergence too. {image}
Everything points to sell, but USD has no strength now, might be good to wait.
I will tear the world apart for you.
Quoting Barnell
{quote} Everything points to sell, but USD has no strength now, might be good to wait.
Sure, we need patience
Trading is not easy
Quoting xiaotiao
{quote} Sure, we need patience
Noticed you are from Malaysia?
I will tear the world apart for you.
Quoting Barnell
{quote} Noticed you are from Malaysia?
yup I am
Trading is not easy
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