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Gold RIGHT NOW

  • #381
  • Jul 31, 2019 12:08am Jul 31, 2019 12:08am
Quoting Ef5
{quote} Good luck, this FOMC is going to be dicey. EventsTrader did a great write up on it here. I'm not long gold, but I've got a lot of exposure going into this so I'll be anxiously watching what they decide on. If they do a hawkish cut the 'buy everything' trade that's worked so well this year will probably begin to unwind. Hopefully Bernanke handed over the keys to the helicopter before he left. {image}
4&1 All Time Profit: $37,496
  • #382
  • Jul 31, 2019 1:13am Jul 31, 2019 1:13am
Quoting Goat
LONG and bracing for FOMC. {quote} Nice buy, you got it on sale. It' was only there for a few hours.
already profited from it unfortunately
Always Defend your investment 1775
  • #383
  • Jul 31, 2019 2:27am Jul 31, 2019 2:27am
Quoting Hunterrus84
{quote} already profited from it unfortunately
Ah. Well don't let me get you into winning-trade-regret, lest we have nothing to be happy about.

Anything in particular make you choose that entry btw? Was fairly uncanny!
  • #384
  • Jul 31, 2019 9:30am Jul 31, 2019 9:30am
3 hrs before the FOMC...and RIGHT NOW, gold is just sitting there...as it has done for the last 8 trading days. I can almost "feel" the tension as we move into the announcement. I see here that short term buyers are exiting to "be safe" but those sells, have produced little in the way of a retrace. Order flow is still very mixed and it seems clear that at this point the only people participating in the market are very very short term traders (scalpers).

Most traders have divided into two camps...those that will "wait and see", and those, like me who are simply holding previously entered positions. Its been my experience that when so much anticipation (across the globe) is placed on a single announcement, it usually disappoints, or turns out to be a "nothing burger". So hold on everyone...the ride is about to begin.
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  • #385
  • Jul 31, 2019 11:36am Jul 31, 2019 11:36am
Quoting DonPato
3 hrs before the FOMC...and RIGHT NOW, gold is just sitting there...as it has done for the last 8 trading days. I can almost "feel" the tension as we move into the announcement. I see here that short term buyers are exiting to "be safe" but those sells, have produced little in the way of a retrace. Order flow is still very mixed and it seems clear that at this point the only people participating in the market are very very short term traders (scalpers). Most traders have divided into two camps...those that will "wait and see", and those, like me...
This "nothing burger" might have more meat than you think!
  • #386
  • Jul 31, 2019 12:34pm Jul 31, 2019 12:34pm
Quoting Metallurgy
This "nothing burger" might have more meat than you think!
You are most likely correct. So far I have really not been too accurate about the current price action on gold. Just this nagging feeling in the back of my head. I do expect it will be quite volatile. We'll see in about 1/2 hour.
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  • #387
  • Jul 31, 2019 12:57pm Jul 31, 2019 12:57pm
Short term Bearish biased, let's see whether GOLD gains some bearish momentum. Trade safe
  • #388
  • Jul 31, 2019 1:42pm Jul 31, 2019 1:42pm
Did a short scalp, closed 70% of my positions, trade safe
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  • #389
  • Jul 31, 2019 2:44pm Jul 31, 2019 2:44pm
Right now... pretty much nothing happened...as I said before. A big nothing burger. While I am happy price went my way...a little...it hasn't broken even the smaller range within the larger range...well I guess we wait for NFP, but as the US economy is well at the moment I again doubt anything of any note will occur. Back to sleep... wake me when it's NFP.
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  • #390
  • Jul 31, 2019 9:26pm Jul 31, 2019 9:26pm
Quoting DonPato
Right now... pretty much nothing happened...as I said before. A big nothing burger. While I am happy price went my way...a little...it hasn't broken even the smaller range within the larger range...well I guess we wait for NFP, but as the US economy is well at the moment I again doubt anything of any note will occur. Back to sleep... wake me when it's NFP. {image}
Big hands shaking off pre NFP, let's see what the market has in store for us tomorrow. Trade Safe
  • #391
  • Jul 31, 2019 10:19pm Jul 31, 2019 10:19pm
Can't believe we're still in the 1410-1430 range after FOMC. This price action strengthens my bullish case though... seems like nothing can beat this market down.

Will change my tune if we're not above 1410 tomorrow.
  • #392
  • Jul 31, 2019 10:26pm Jul 31, 2019 10:26pm
Right now Gold is recovering from a bottom around 1407. Bought in around 1409 - watching closely for a nice spot to exit. I am thinking a TP1 around 1415 and TP2 around 1425. Thoughts?
If in doubt, paddle out!
  • #393
  • Aug 1, 2019 3:16am Aug 1, 2019 3:16am
Quoting Goat
Can't believe we're still in the 1410-1430 range after FOMC.
So much for the range. Coming up on the big figure.
  • #394
  • Aug 1, 2019 3:20am Aug 1, 2019 3:20am
Quoting TradeMinim
Did a short scalp, closed 70% of my positions, trade safe {image}
Nice returns on those accounts.
  • #395
  • Aug 1, 2019 4:10am Aug 1, 2019 4:10am
Quoting Goat
{quote} Nice returns on those accounts.
Hit my targets for 2019, let's see what surprise the markets will bring us next quarter
  • #396
  • Aug 1, 2019 4:13am Aug 1, 2019 4:13am
Don`t become nervous !

Gold is actually unfolding Wave "X" - probably a "Flat" pattern - of the ZigZag since the start of Wave "Y" to complete wave [b] (black).

I expect the High [b] at the end of 2019.

Sixer
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  • #397
  • Aug 1, 2019 7:27am Aug 1, 2019 7:27am
Gold right now pushed through some 1404 resistance. Some opportunities abound
If in doubt, paddle out!
  • #398
  • Aug 1, 2019 7:44am Aug 1, 2019 7:44am
I bought at 1402.4. I hope Gold resumes the bullish trend
  • #399
  • Aug 1, 2019 8:21am Aug 1, 2019 8:21am
Quoting hocius
I bought at 1402.4. I hope Gold resumes the bullish trend
Still sitting on my 1404 sell. Have a TP at 1398 (moved from 1401) - but thinking of cashing in.
If in doubt, paddle out!
  • #400
  • Aug 1, 2019 9:58am Aug 1, 2019 9:58am
Hello again Friends: RIGHT NOW...it appears that the range bottom is holding, which is right in line with a weekly trend line supporting the lows from two week's ago.
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However, price is still STUCK inside this range, and in fact is smack in the middle...the very definition of indecision

The daily chart order flow shows the lows are well supported with buyers and that price is once again responding to these buys. As I've mentioned several times through out the last 4 weeks...price is stuck in a "stable" range.
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I imagine that many of the larger traders are waiting to see what may happen with NFP tomorrow, however, I am once again skeptical that any announcement will be favorable, for Gold. Barring a complete surprise, like a recession in the US economy, I am still holding my shorts for the time being...however languished they are in negative territory.

Best of luck for those of your shorter term traders...I saw a few make some good trades during the FOMC announcement.
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