Gold and GJ analysis

GJ:

Unfortunatley,i missed this move on GJ, even if i expected sells and bearish volume like this one.

Will looking for minor pullback to supply zone from where i will be looking for sells again.

GJ:

price returned to 4 hr supply zone as expected.

Will wait for PA during NY session to see if i will enter any sells.

No buys for now.

GOLD:

gj:


sell @ 154.793
sl @ 155.023
tp @154.026

EDIT: did not like price action so i closed with 0.5% loss.

GOLD:

GOLD tapped into 2.000 USD mark first time since 2020!

I will be careful with buys in this area but will see what will price action tell me during NY session.

No trades for now.

GJ:

As expected we had huge moves down on GJ. Pri ce reached my bearish target.

Still bearish bias but now i will also be looking for buys NY session.

GJ:

Price consolidated for two days. I expecting to see some volume today and will look for buys up to the 4 hr supply zone.

GJ:

As we can see price have strong resistance on 4 hr at 152.000-152.230 area.

Buys valid only if i see bullish momentum to the upside,30 min candle breaking and c losing above resistance.

GJ:

Price moved as i thought. Closed half of my position @152.560 letting other part run. Would like to see corection of the bearish move up to the 4hr supply zone.

Stops at BE.

GOLD:

GOLD:

GJ:

We had few strong bullish days on GJ. Caught some nice buys.

Today i will be looking for sells because we taped into daily supply zone and we have strong resistance at 154.00 area.

Waiting for NY volume to kick in..

GOLD:

GJ:

Edit: no positions opened for now. Price is getting bullish momentum and i did not get my entry sell signal.

GJ:

We have strong up momentum and price action so its very likely that we see something like this:

No trades taken today

No setups today. We had strong bullish week for now on GJ. Price is currently in huge rejection zone on biger tf so i will step out for now.
Also today we have rate anouncment and, altough its not directly corelated with GJ ,we will probably see some strange fluctuations in price.

GJ:

GOLD:

Repeating patterns on pairs.

If we look the situation on gold curently,we can see that price made a huge spike up that was followed by strong selling pressure.
Intrestingly,if we look other pairs(attached photos of UCAD AND GU) that scenario repeted few times. It looks like huge instituitions are pushing price up very fast up to the some point and then enter huge sell positions.

Is that what we are seeing curently on gold?
We will see. Everything is pointing out to that conclusion.

With raising intrest rates dollar will strenghten against gold and we can only expect lower and lower prices as rates will go up.

interesting ... now GJ hit 160, 6 yrs high. how would you plan ahead? it retraced but always sprung back up

I expect to see some kind of correction,and will be looking for sells mostly. Im not so confident with buys at this price. Altough..GJ can have periods when its just pushing and pushing. Like i higlited in picture below.

If you check 4hr candle it tapped into 164.705,which is strong resistance @weekly TF. Next 4hr candle immidiatley closed down into range again. So what i want to see now is,if price want to go up,spike down before going up again.

Also why i think now is the right time to look for sells is ,according to the third picture i attached, huge spikes up are very often followed by bearish mode.

So in conclusion:
I will be looking for sells. If price go up above 164.167 i will look for buys.