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  • #1,761
  • Nov 22, 2021 8:34am Nov 22, 2021 8:34am
Quoting aeternum
{quote} Well it's breaking into 1829 pretty strong. Looks like sellers are stepping back in, but don't forget about December seasonals for gold. We may be getting a retracement here for another bounce to the moon again. 1H and 4H are starting to get oversold, looks good for buys.
On Daily, it seems as if a new bearish trend is about to start
  • #1,762
  • Nov 22, 2021 8:37am Nov 22, 2021 8:37am
Just finished my prop firm challenge 10% in one trade!!
  • #1,763
  • Nov 22, 2021 8:44am Nov 22, 2021 8:44am
Quoting TrickorTrade
Just finished my prop firm challenge 10% in one trade!!
Congratulations!!
Which prop firm are you using
  • #1,764
  • Nov 22, 2021 8:47am Nov 22, 2021 8:47am
Quoting Kefada
{quote} On Daily, it seems as if a new bearish trend is about to start
That is true. Daily definitely looks very threatening. There may well be more strength behind this selling. Who knows we may even see 1800 again!
A 1 pip gain is better than a 1 pip loss.
  • #1,765
  • Nov 22, 2021 8:48am Nov 22, 2021 8:48am
So apparently it seems like the drop in gold was because Powell got re-elected for another term as Fed chair. Now on to the big question, to taper or not to taper.
A 1 pip gain is better than a 1 pip loss.
  • #1,766
  • Nov 22, 2021 8:51am Nov 22, 2021 8:51am
Quoting aeternum
{quote} That is true. Daily definitely looks very threatening. There may well be more strength behind this selling. Who knows we may even see 1800 again!
No way we will see downtrend when DXY is topping!
  • #1,767
  • Nov 22, 2021 8:56am Nov 22, 2021 8:56am
Quoting Allle
{quote} No way we will see downtrend when DXY is topping!
Well if I were to see the daily closing above 1832-1835, probably would feel that a strong bounce is coming. But this selling strength has to be respected.
A 1 pip gain is better than a 1 pip loss.
  • #1,768
  • Nov 22, 2021 9:00am Nov 22, 2021 9:00am
A nice few pipas for the day, I almost missed it, I had set a sell limit at 1842 and i didn't triggered it, set it to 1841 and lucky enough it came back to set it off, unfortunately my trail stops took me out but I collected about 80 pipas
  • #1,769
  • Nov 22, 2021 9:03am Nov 22, 2021 9:03am
Quoting Kefada
{quote} Congratulations!! Which prop firm are you using
FTMO. Just done with 10% stage 1
  • #1,770
  • Nov 22, 2021 9:05am Nov 22, 2021 9:05am
Quoting aeternum
So apparently it seems like the drop in gold was because Powell got re-elected for another term as Fed chair. Now on to the big question, to taper or not to taper.
We also have to consider that it was still bearish before the spike due to this fundamental
  • #1,771
  • Nov 22, 2021 9:07am Nov 22, 2021 9:07am
Quoting Kefada
{quote} We also have to consider that it was still bearish before the spike due to this fundamental
I wouldn't say it was bearish before crashing. Technically we broke 1831 high and went on to 1873. We just have to see if we form a higher low or lower higher now.
A 1 pip gain is better than a 1 pip loss.
  • #1,772
  • Nov 22, 2021 9:07am Nov 22, 2021 9:07am
Quoting aeternum
So apparently it seems like the drop in gold was because Powell got re-elected for another term as Fed chair. Now on to the big question, to taper or not to taper.
Yes but technical already suggested bearish clearly
  • #1,773
  • Nov 22, 2021 9:24am Nov 22, 2021 9:24am
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  • #1,774
  • Nov 22, 2021 9:28am Nov 22, 2021 9:28am
Quoting aeternum
{quote} That is true. Daily definitely looks very threatening. There may well be more strength behind this selling. Who knows we may even see 1800 again!
Hey, when the markets drop sharply like this due to fundamentals(Powell re-election) does it form a new trend or does it retrace to fill the sharp sell?
  • #1,775
  • Nov 22, 2021 10:58am Nov 22, 2021 10:58am
Daily outlook.

Attached Image (click to enlarge)
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We cut the winners short and let the losers run.
  • #1,776
  • Nov 22, 2021 11:01am Nov 22, 2021 11:01am
Quoting Ryd3n
Daily outlook. {image}
Just needed to say, I love your signature..
  • #1,777
  • Nov 22, 2021 11:31am Nov 22, 2021 11:31am
Quoting aeternum
{quote} We've smashed right into the 50 retracement (1817.96) of 1758.82 to 1877.09. Sellers still looking pretty strong. Possibly going straight to 1807.91. 61.8 retracement lies at 1804 currently... But if we just keep going down, looks like we might have a fresh impulsive down move instead. Time to see how seasonals play out
We've just touched 1807. I would see this area to be of significance especially after such a steep drop off. If we were to have a bullish December, this is probably calm before the storm moment.

I won't rule out a retracement back to 1831 region only because of how steep this drop is but we all know gold has the tendency to go in one direction for a really really long time.
A 1 pip gain is better than a 1 pip loss.
  • #1,778
  • Nov 22, 2021 11:46am Nov 22, 2021 11:46am
Quoting bedzocapital
{quote} Hey, when the markets drop sharply like this due to fundamentals(Powell re-election) does it form a new trend or does it retrace to fill the sharp sell?
In my experience which is not a lot just a few months, most of the time it retraces
  • #1,779
  • Nov 22, 2021 12:04pm Nov 22, 2021 12:04pm
Yo I've been trying to trade gold as my second pair for a little while now (about 7 months) and can't really get it? I'm wondering what I should look for in gold setups I'm trying to turn it into the main pair I trade. Thanks fr
  • #1,780
  • Nov 22, 2021 12:10pm Nov 22, 2021 12:10pm
Quoting Kefada
{quote} In my experience which is not a lot just a few months, most of the time it retraces
Okay, 1807-1804 looking at possible areas of support. We all know XAUUSD is erratic. Where do you see the metals heading in December?
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