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Gold

Sold @ 1873.22 Target 1851
Forex Learner
Gold should be bullish today, but tomorrow after the inflation report, it could be destroyed again
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don't believe in mumbo jumbo from gurus
US Fed rate first half point rate hike and Bank of England also raised its interest rate to 1% on last week.

On this rate hike decisions, precious metals like Gold and Silver continue down in last three sessions.

Gold prices was toched almost $1850 range and made a low $1851.53 range today before US open.

On the other side, Dow 30 futures, traded +350 points before markets open.

We will expect of profit booking in Gold and Silver today.

Intraday trading strategy for Gold.

Buy Gold $1851.00-$1856.00 range(June-Future)

SL $1835.00

Tgt1 $1880.00
Tgt2 $1890.00
Tgt3 $1900.00.......TGT1 before today's closing

Intraday trading strategy for Silver....

Buy Silver $21.650-$21.750 range(July-Future)

SL $21.250

Tgt1 $22.300
Tgt2 $22.500
Tgt3 $22.800........TGT1 before today's closing
Quoting GoldOperator
US Fed rate first half point rate hike and Bank of England also raised its interest rate to 1% on last week. On this rate hike decisions, precious metals like Gold and Silver continue down in last three sessions. Gold prices was toched almost $1850 range and made a low $1851.53 range today before US open. On the other side, Dow 30 futures, traded +350 points before markets open. We will expect of profit booking in Gold and Silver today. Intraday trading strategy for Gold. Buy Gold $1851.00-$1856.00 range(June-Future) SL $1835.00 Tgt1 $1880.00 Tgt2...
gold had something else in mind cant win them all.......................
Enter at own risk.

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'Those are my principles, and if you don’t like them… well, I have others.'
if the market is going to retrace the pandemic gains, then gold could go to the 1680s as the dollar becomes more stronger
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don't believe in mumbo jumbo from gurus
Quoting ForexGoose
... gold could go to the 1680s ... {image}
Sure, but seeing DXY at 105 and Gold dip back past 1800 whilst global inflation is raging in double figures, is blowing my mind.
If this can be construed as 'normal market behaviour' then it is simply the big guys flushing the toilet big-time on the little guys.
Hope this correction ends soon - I always equated gold with 'personal freedom' so seeing it get smashed is depressing.
Quoting PercyJames
{quote} Sure, but seeing DXY at 105 and Gold dip back past 1800 whilst global inflation is raging in double figures, is blowing my mind. If this can be construed as 'normal market behaviour' then it is simply the big guys flushing the toilet big-time on the little guys. Hope this correction ends soon - I always equated gold with 'personal freedom' so seeing it get smashed is depressing.
Not so mind-blowing really, many saw this reality check for the POG coming. GOLD is nothing more than any other traded commodity, except for the fact that it has an almost 'religious' following by many. Anyway, there it is. Also, what exactly is 'normal market behaviour', if you can come up with an answer to that you'll unlock one of the mysteries of the Universe.

Good luck.
'Those are my principles, and if you don’t like them… well, I have others.'
Quoting yani38
{quote} ... many saw this reality check ..
That's a fair assessment and yes the flush has been a good reality check for me (to also research shorting strategies).
Don't forget the core difference is central banks do hold this traded commodity as an asset on their balance sheet for whatever reason, religious or not.

re: market action I guess I wanted to see more 'thrust and ease' motion of a healthy market.
Statistically I had not expected to see a near-$200 retracement at this time.
Gold bottomed at $1,799 on Friday, the lowest level since February. A recovery followed later that found resistance quickly at $1,820.
gold remain rearish for target 1780/1767 target next week , while limits up immediate 1818 , next 1831 ang last 1850 , take care
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j. Who knows, mebbe the lows are being bought, wherever they may be. For the time being 1799.00 last Friday.

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'Those are my principles, and if you don’t like them… well, I have others.'
Quoting yani38
j. Who knows, mebbe the lows are being bought, wherever they may be. For the time being 1799.00 last Friday. {image}
may be who knows ! anyway 1817 tested and likely test 1799 to see breakout for 1780 and lows 1768 if ! ok 1790 care too if breaks previous low take care
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find the WHY on YOUR CHARTS
Just my opinion, the area of 1796 should be able to hold for a slight rebound upwards before fully going down to the 1790 area. Will be checking carefully for those area.

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find the WHY on YOUR CHARTS
xauusd entry from the level (level limits 1839.98-1835.75), stop behind the level - 1850.74
tp-1781

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Today scalps, when market opened.
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Money Maker
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Quoting svidoks
xauusd entry from the level (level limits 1839.98-1835.75), stop behind the level - 1850.74 tp-1781 {image}
My next gold target is 1750.
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