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Gold

  • #33,081
  • May 22, 2024 11:50am May 22, 2024 11:50am
Quoting Ravenfeeder
{quote} Or we can go lower, to another strong point, 2371?
of course.
  • #33,082
  • May 22, 2024 12:00pm May 22, 2024 12:00pm
I think Gold is going up..

Just hit a Daily bullish +OB

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  • #33,083
  • May 22, 2024 12:28pm May 22, 2024 12:28pm
Quoting Jedidiah-007
I think Gold is going up.. Just hit a Daily bullish +OB {image}
i also saw the same thing bt ftom an h4 bullish OB
  • #33,084
  • May 22, 2024 12:30pm May 22, 2024 12:30pm
Quoting Jedidiah-007
I think Gold is going up.. Just hit a Daily bullish +OB {image}
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  • #33,085
  • May 22, 2024 12:35pm May 22, 2024 12:35pm
trade carefully now, FOMC is coming out soon, Feds could potentially have a hawkish stance so I wouldn't bet on a bull time now, Inflation has been relatively high, but this is just the short term people
  • #33,086
  • May 22, 2024 1:14pm May 22, 2024 1:14pm
Quoting Gazters
trade carefully now, FOMC is coming out soon, Feds could potentially have a hawkish stance so I wouldn't bet on a bull time now, Inflation has been relatively high, but this is just the short term people
Its clear everyone is looking forward to the rate cuts and the feds have made it clear they need inflation to at least be near their 2% target for them to start rate cutting,the FOMC hasn't changed anything , they still going to be watching the inflation numbers and probably only once we start seeing a clear down turn in the inflation numbers will the fed clearly say when they gonna rate cut.

So overall its still very bullish for gold as if the inflation numbers stay the same while the economy is cooling down the story will then be stagflation which is bullish for gold , if inflation starts coming down DXY will start dropping as well and gold will go up.
So long as the economic data stays showing its cooling down the story of the economy gold is extremely bullish regardless of what the CPI numbers comes out as
  • #33,087
  • May 22, 2024 1:19pm May 22, 2024 1:19pm
Quoting lokiko
{quote} Its clear everyone is looking forward to the rate cuts and the feds have made it clear they need inflation to at least be near their 2% target for them to start rate cutting,the FOMC hasn't changed anything , they still going to be watching the inflation numbers and probably only once we start seeing a clear down turn in the inflation numbers will the fed clearly say when they gonna rate cut. So overall its still very bullish for gold as if the inflation numbers stay the same while the economy is cooling down the story will then be stagflation...
So why gold is falling?
  • #33,088
  • May 22, 2024 1:23pm May 22, 2024 1:23pm
Please when the fomc news is out, can someone summarize it?
  • #33,089
  • May 22, 2024 1:24pm May 22, 2024 1:24pm
Quoting lokiko
{quote} Its clear everyone is looking forward to the rate cuts and the feds have made it clear they need inflation to at least be near their 2% target for them to start rate cutting,the FOMC hasn't changed anything , they still going to be watching the inflation numbers and probably only once we start seeing a clear down turn in the inflation numbers will the fed clearly say when they gonna rate cut. So overall its still very bullish for gold as if the inflation numbers stay the same while the economy is cooling down the story will then be stagflation...
Yes, I just stated that it will be down gold for a short term period because it is nowhere in a talk for a rate cut, but I wouldn't bet on US to be bullish in the long-term, It would be great taking a long trade before the next rate statement comes out
  • #33,090
  • May 22, 2024 1:26pm May 22, 2024 1:26pm
Quoting Gadich
{quote} So why gold is falling?
Its like he completely ignored what I just said
  • #33,091
  • May 22, 2024 1:32pm May 22, 2024 1:32pm
Quoting Gadich
{quote} So why gold is falling?
Earlier on before FOMC was released some members said some hawkish statements about rate cuts not coming this year which of course cause DXY to spike up cause the further down the line rate cuts are expected the more bullish DXY is gonna be . From these FOMC its seems rate cuts are being expected to be possibly be pushed back to next year which of course isn't fully confirmed so for me personally i'm gonna be looking for nice long positions on gold as rate cuts being pushed back to next year isn't good news for the market as it means inflation is to sticky.
  • #33,092
  • May 22, 2024 1:34pm May 22, 2024 1:34pm
Finally something waiting on 1h is a real test of patience for a good catch. Good night Gold
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ryoiki tenkai : Blue Juggernaut
  • #33,093
  • May 22, 2024 1:38pm May 22, 2024 1:38pm
Quoting Orand
Long at : 2385.9 SL : 2382.90 (SL Move to 2387.90) (SL Hit) TP : TBD (TP set to 2391.90) ---------------------------------------- Short : 2387 SL :2390 (SL hit) TP 2383 (TP almost hit) ---------------------------------------- Long : 2391 SL : 2388 (SL hit) TP : 2396 (TP was wrong) ------------------------- Short : at 2389 SL 2392 (Sl hit) TP : open -------------------------- Short at 2390.20 SL :2393.20 (SL Hit) (Bad Entry) TP : 2383 (May Close Manually ) -------------------------------------- Short 2387.50 Sl : 2390.50 (sl hit ) (really hard for...
I'm so angry , I was correct on direction 3 times but my 30pip SL hit in a row ,I want to practice to take position with 30 pip SL , should I adjust my 30 pip SL ? or I should refine my entry ? any insight ?
  • #33,094
  • May 22, 2024 1:38pm May 22, 2024 1:38pm
Quoting m1ch43l
My view, Gold - H4 (Time zone GMT+7) {image}
ok my view is done 1:38 AM (GMT+7)
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Heo Con Lon Ton | FX and Commodities Trader
  • #33,095
  • Edited 2:09pm May 22, 2024 1:40pm | Edited 2:09pm
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It retested the trendline but I still need wait for more confirmation or else I hope to get a cheaper entry and tp around 2500
  • #33,096
  • May 22, 2024 1:46pm May 22, 2024 1:46pm
So far on demo account it has been a consistent profitable trade on Gold.
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  • #33,097
  • May 22, 2024 1:47pm May 22, 2024 1:47pm
Quoting Orand
{quote} I'm so angry , I was correct on direction 3 times but my 30pip SL hit in a row ,I want to practice to take position with 30 pip SL , should I adjust my 30 pip SL ? or I should refine my entry ? any insight ?
ENtry change
It's all about Timing!!!
  • #33,098
  • Edited 2:20pm May 22, 2024 1:49pm | Edited 2:20pm
Long 2378.50
SL : 2375.50 (SL hit)
TP : 2383.50
-------------------
End of Trade : - 88PIP
Lessons : I kind of overtrade I guess , in addition My TP need adjustment I think , I should wait for better entry
-----------------
Short Term Bias : Short , Long Term Bias : Short
Status : Minus ( -30pip, +5pip, -15pip,0pip, -30pip,-30pip . +40 Pip, +132Pip, +20 pip, -30pip, -30pip,-30pip, -30pip ,-30 pip,-30pip) Total : -88pip
1
  • #33,099
  • May 22, 2024 1:53pm May 22, 2024 1:53pm
Quoting ScalaFX
{quote} Ok, time for partials and withdraw, rest to the target
closing all, month target arrived
People don't plan to lose. They lose because they don't plan.
  • #33,100
  • May 22, 2024 2:01pm May 22, 2024 2:01pm
Caught second wave down bagged my greens goldi should consolidate at 77 level ..Let's see if Asia takes her down.
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average dude treading water
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