Attachments: Gold with No Drama

Gold with No Drama

#66,441
Jul 23, 12:31pm (1 hr 15 min ago) Jul 23, 12:31pm (1 hr 15 min ago)

babayaga
Joined Aug 2010 | Status: Trader | 5,505 Posts | Online Now

Quoting Alorente

Disliked

{quote} Look friend... I have been drawing trendlines for more than 50 years... much before computers existed. The origin of the trendline is always drawn from the extreme of the candle. I do agree that it is more an art than a science. That daily XauUsd trendline was broken yesterday and tested today...

Ignored

"look friend", if i draw trendlines for around ten years does not mean that i am wrong
you can keep your opinion and draw your TLs as you wish.., i will not argue about it.., you trying to tell me that i am doing it wrong way.., not acceptable..,
and yes, i agree that it's art

btw, i cannot see clearly what you connect on your chart
so, please if you want i have information you offer right, give me readable chart
thank you

dolce vita

#66,442
Jul 23, 12:31pm (1 hr 15 min ago) Jul 23, 12:31pm (1 hr 15 min ago)

Rednose
Joined Mar 2009 | Status: none | 1,003 Posts

"Several major Chinese banks—including ICBC, China Construction Bank and Bank of Communications—are closing their retail access to Shanghai Gold Exchange precious-metals contracts after settlement on Friday, July 24, 2026. The affected instruments include leveraged gold contracts such as Au(T+D) and the leveraged silver contract Ag(T+D), as well as several spot gold products"

This could cause some bearish momentum tomorrow as positions must be liquidated.
Be safe.

Matryoschka

#66,443
Jul 23, 12:32pm (1 hr 14 min ago) Jul 23, 12:32pm (1 hr 14 min ago)

Jay1227
| Joined May 2026 | Status: Trader | 31 Posts

Hoping to see 4090 as I have a lot riding on it. Struggled to break below 4040 so fingers crossed crossed… if this goes tits up I’ll have to explain to the wife where the savings went

sorry hun I tried to change our financial sides of things

#66,444
Jul 23, 12:33pm (1 hr 13 min ago) Jul 23, 12:33pm (1 hr 13 min ago)

GoldGod
Joined Oct 2024 | Status: Trader | 1,469 Posts | Online Now

Quoting SibiSh

Disliked

{quote} Oh you are also back and really happy to see you here. Welcome back buddy and happy day

Ignored

Thanks bro, appreciate the welcome.

GoldGod Flip3 Return Today: na

#66,445
Jul 23, 12:34pm (1 hr 12 min ago) Jul 23, 12:34pm (1 hr 12 min ago)

Mrafi1982
Joined Mar 2020 | Status: Trader | 656 Posts | Online Now

it went up to 4054 then back to stuck in a range again.. hope the next h4 makes some move..

#66,446
Jul 23, 12:39pm (1 hr 7 min ago) Jul 23, 12:39pm (1 hr 7 min ago)

Mrafi1982
Joined Mar 2020 | Status: Trader | 656 Posts | Online Now

its either one more final tap of 4040 and we gonna break much lower

#66,447
Jul 23, 12:39pm (1 hr 6 min ago) Jul 23, 12:39pm (1 hr 6 min ago)

cameron777
Joined Sep 2023 | Status: Trader | 268 Posts | Online Now

Quoting Jay1227

Disliked

Hoping to see 4090 as I have a lot riding on it. Struggled to break below 4040 so fingers crossed crossed… if this goes tits up I’ll have to explain to the wife where the savings went sorry hun I tried to change our financial sides of things

Ignored

Good luck

, Time to swap the Mrs for some camels

#66,448
Jul 23, 12:42pm (1 hr 4 min ago) Jul 23, 12:42pm (1 hr 4 min ago)

wolfofgreen
| Joined Feb 2026 | Status: Trader | 1 Post | Online Now

What you guys think, if we break 4040, where are we going?

#66,449
Jul 23, 12:42pm (1 hr 4 min ago) Jul 23, 12:42pm (1 hr 4 min ago)

Mrafi1982
Joined Mar 2020 | Status: Trader | 656 Posts | Online Now

Quoting Jay1227

Disliked

Hoping to see 4090 as I have a lot riding on it. Struggled to break below 4040 so fingers crossed crossed… if this goes tits up I’ll have to explain to the wife where the savings went sorry hun I tried to change our financial sides of things

Ignored

thats risky bro.. haha.. but good luck

#66,450
Jul 23, 12:44pm (1 hr 2 min ago) Jul 23, 12:44pm (1 hr 2 min ago)

BeeTogether
Joined Oct 2020 | Status: Trader | 14,340 Posts | Online Now

Quoting GoldGod

Disliked

{quote} Thanks bro, appreciate the welcome.

Ignored

good to have you back mate

Insane in the Brain..

#66,451
Jul 23, 12:45pm (1 hr 1 min ago) Jul 23, 12:45pm (1 hr 1 min ago)

Mitiblotch
Joined Sep 2017 | Status: Trader | 11,577 Posts | Online Now

I have 4030/31 as an area it could hit, but that would be too extended for the day considering the entire week has been roughly lower than 1% move per day. But gold will always be gold

#66,452
Jul 23, 12:47pm (59 min ago) Jul 23, 12:47pm (59 min ago)

IKazer
| Joined Apr 2026 | Status: Trader | 200 Posts

gonna make another wick but i think we are gonna break the 40... we still got Asia tho

#66,453
Jul 23, 12:49pm (57 min ago) Jul 23, 12:49pm (57 min ago)

Mrafi1982
Joined Mar 2020 | Status: Trader | 656 Posts | Online Now

Quoting Mitiblotch

Disliked

I have 4030/31 as an area it could hit, but that would be too extended for the dah co sidering the entire week has been roughly lower than 1% move per day. But gold will always be gold

Ignored

yeah its quite extended.. we should pull back higher haha.. lets see the next h4 candle

#66,454
Jul 23, 12:50pm (55 min ago) Jul 23, 12:50pm (55 min ago)

has22v
Joined Aug 2025 | Status: Trader | 1,226 Posts | Online Now

Considering the W1 and the size of the candle's wick, I think the decline next week will be significant.This is assuming gold does not return to 4112. NEVER SAY NEVER

#66,455
Jul 23, 12:54pm (51 min ago) Jul 23, 12:54pm (51 min ago)

Alorente
Joined Aug 2011 | Status: Trader | 4,938 Posts

Quoting babayaga

Disliked

{quote} "look friend", if i draw trendlines for around ten years does not mean that i am wrong you can keep your opinion and draw your TLs as you wish.., i will not argue about it.., you trying to tell me that i am doing it wrong way.., not acceptable.., and yes, i agree that it's art btw, i cannot see clearly what you connect on your chart so, please if you want i have information you offer right, give me readable chart thank you

Ignored

I did not say you are doing anything wrong. I am saying that it is, in part, a subjective matter.
Regarding the subject, I recommend:
Technical Analysis of the Financial Markets by John Murphy. A 40 year old book, but still the Bible in my view.

I changed the background and made the line thinner for you.

Attached Image (click to enlarge)

Click to Enlarge

Name: Gold Daily Chart.png
Size: 114 KB

Observation is the path to discovery.

#66,456
Jul 23, 12:59pm (47 min ago) Jul 23, 12:59pm (47 min ago)

Sainbayar
| Joined Apr 2026 | Status: Trader | 22 Posts | Online Now

Oil shooting and DXY staying high, but gold seems to be reluctant to drop more

God delays your money to fix your discipline

#66,457
Jul 23, 1:00pm (46 min ago) Jul 23, 1:00pm (46 min ago)

GoldGod
Joined Oct 2024 | Status: Trader | 1,469 Posts | Online Now

Quoting BeeTogether

Disliked

{quote} good to have you back mate

Ignored

Appreciate it mate, good to be back.

GoldGod Flip3 Return Today: na

#66,458
Jul 23, 1:00pm (46 min ago) Jul 23, 1:00pm (46 min ago)

louiiey
Joined Nov 2025 | Status: Trader | 675 Posts

Quoting Sainbayar

Disliked

Oil shooting and DXY staying high, but gold seems to be reluctant to drop more

Ignored

last couple days of bullish movement has increased growth expectations - that's my guess. I still think it could drop more though and dxy is only predictive up to a certain point.

#66,459
Jul 23, 1:02pm (43 min ago) Jul 23, 1:02pm (43 min ago)