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  • #6,601
  • Apr 11, 2023 12:50am Apr 11, 2023 12:50am
My opinion
Gold, M30 is still in a downtrend. The trend changes to up only if the price breaks upwards through 2002.
However, with H4, the price is clearly supported and recognized by the market.
So, my conclusion is that gold will eventually rise and the fall is only temporary.
Of course, this is just my idea, still need to pay attention to trading risks.
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Just follow the trend.
  • #6,602
  • Apr 11, 2023 12:51am Apr 11, 2023 12:51am
By the way, the next CPI data is very important, whether the Fed will still raise interest rates in May, it decides.
Just follow the trend.
  • #6,603
  • Apr 11, 2023 2:17am Apr 11, 2023 2:17am
Lemme present a bit of my readings of the gold chart.
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This channel is built based on line-fit plot method. I'm using 48 period on 30mins chart, which means it represents daily trend. As you can see, the line is sloping upward. We might see another surge up in next 1-hour, or in US market session. This is supported by the pattern in volumes.

Overall, we might see daily close higher than open. Technically speaking.
  • #6,604
  • Apr 11, 2023 2:51am Apr 11, 2023 2:51am
#GOLD / H4
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  • #6,605
  • Apr 11, 2023 3:20am Apr 11, 2023 3:20am
Quoting lucaswalliam
By the way, the next CPI data is very important, whether the Fed will still raise interest rates in May, it decides.
Break of 2006 will enhance the bulls pressure up to 2021-25 area today.....below this area market is in bears control.I may be wrong.Trade safe
  • #6,606
  • Apr 11, 2023 4:29am Apr 11, 2023 4:29am
Quoting parveenverma
{quote}Break of 2006 will enhance the bulls pressure up to 2021-25 area today.....below this area market is in bears control.I may be wrong.Trade safe
My expectations remain the same and I will still choose to enter long orders in 1995. Of course, I will not buy limit entry and need to observe the price behavior. Anyway, I am inclined to go up.
Just follow the trend.
  • #6,607
  • Apr 11, 2023 5:19am Apr 11, 2023 5:19am
Quoting parveenverma
{quote}Break of 2006 will enhance the bulls pressure up to 2021-25 area today.....below this area market is in bears control.I may be wrong.Trade safe
Yes,H4 20sma acting as nearby resistance... waiting fr the break..

Trade safe
Its all about Timing!!!
  • #6,608
  • Apr 11, 2023 6:55am Apr 11, 2023 6:55am
If closes and breaks 1997, will fall until 1981, where I will buy.
  • #6,609
  • Apr 11, 2023 7:27am Apr 11, 2023 7:27am
Quoting jordiHK
If closes and breaks 1997, will fall until 1981, where I will buy.
Are you expecting double bottom before it moves up?
Love for all; Hatred for none.
  • #6,610
  • Apr 11, 2023 7:58am Apr 11, 2023 7:58am
Quoting aahmad29
{quote} Are you expecting double bottom before it moves up?
If 1997 doesn't hold yes, fall until ~1981. Also have CPI news tomorrow.
  • #6,611
  • Apr 11, 2023 8:56am Apr 11, 2023 8:56am
New up reverse point gold. expecting some major up move in the near future

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Yesterday analysis
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  • #6,612
  • Apr 11, 2023 9:18am Apr 11, 2023 9:18am
Outlook for gold short term -

There's various factors to look at when trying to speculate where Gold prices will be in the next few weeks - months.

Major factor :

- USD price, after showing recent decline, Gold will ultimately go up to reflect weaker Dollar. I push above 2075$ will definitely be a target I will monitor close up and its behavior to the up trend.
- BRICKS - I strongly believe, their joint collaboration which undermines the US economy will have a MAJOR impact on gold prices whether or not gold will be backed by it as an underlying asset.
- "Safe heaven" Mainly because of this I would expect a volatile and liquid price, price could range between 2100 up to 1700. Which would require a very big SL with high expectation.
- Demand with higher global inflation, it is possible for more stable gold prices as those two factors come into play lower demand as higher inflation influences the world. I believe in the coming months inflation would decrease slightly, the forecast for mining gold is slightly lower than the previous year. Industrial output lower, demand lower and higher investments would make me believe that based on those factors prices should "skyrocket" any further.

My main target for Gold would be 3k however although it is an ideal target this remains a speculative target for the future. Under a short time frame intra trade I expect big moves with high volatility and liquidity as the USD is under stress and I am all for a new world order under BRICKS.
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  • #6,613
  • Apr 11, 2023 9:53am Apr 11, 2023 9:53am
Quoting damsak
New up reverse point gold. expecting some major up move in the near future https://youtu.be/KxqaRBsbuCs Yesterday analysis https://youtu.be/zmPwl4cIWx8
I'm still looking for this buying trend. Expecting long position below this level. And quick scalp short area 2005.50
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  • #6,614
  • Apr 11, 2023 10:22am Apr 11, 2023 10:22am
Quoting PabloDon
Outlook for gold short term - There's various factors to look at when trying to speculate where Gold prices will be in the next few weeks - months. Major factor : - USD price, after showing recent decline, Gold will ultimately go up to reflect weaker Dollar. I push above 2075$ will definitely be a target I will monitor close up and its behavior to the up trend. - BRICKS - I strongly believe, their joint collaboration which undermines the US economy will have a MAJOR impact on gold prices whether or not gold will be backed by it as an underlying...
Gold at 3K, is like those who think that Bitcoin will arrive at 1 Million...
In short or mid term, I find it impossible, even with this scenario we have in the global economy. Nowadays even at 2K, the price for an Ounce Troy is overvalued.
Honestly 3K is too, too far from reality in short-mid term. But the market is the market, who knows...
  • #6,615
  • Apr 11, 2023 10:31am Apr 11, 2023 10:31am
Quoting damsak
{quote} I'm still looking for this buying trend. Expecting long position below this level. And quick scalp short area 2005.50 {image} https://youtu.be/KxqaRBsbuCs
As expected market just gone down for scalp

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  • #6,616
  • Apr 11, 2023 8:00pm Apr 11, 2023 8:00pm
Quoting damsak
{quote} As expected market just gone down for scalp {image} https://youtu.be/KxqaRBsbuCs
Still holding the down reverse point we mentioned yesterday

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  • #6,617
  • Apr 11, 2023 11:27pm Apr 11, 2023 11:27pm
Hey GOLDIs! what's up? I hope all of you are doing well. Gold Bulls became aggressive after break of 2006.I am expecting a quick retracement to 2005-2007 area anytime from current area and after that market can aggressively attack to 2066-2070 area today or till Friday close possible. After break of 2006 M30 & 1H trend change confirmed along with the Bullish trend confirmation.I may be wrong.Trade safe
Alert: High Impact Data can change the above figures positively or negatively.
  • #6,618
  • Apr 12, 2023 12:37am Apr 12, 2023 12:37am
well as per my past analysis, gold did continued with the trend. as of now it testing the daily resistance of 2020.5. if it breaks it, next stop is 2074. but remember CPI is here.
trade responsibly
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  • #6,619
  • Apr 12, 2023 1:11am Apr 12, 2023 1:11am
from myfxbook
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dolce vita
  • #6,620
  • Apr 12, 2023 1:41am Apr 12, 2023 1:41am
Yesterday, was the price very "precise" to my entry area, the analysis was correct.
Of course, this is only a part of the trade, more "imprecise". I still need to work on that.
Today, gold is still bullish, retracement to do more is my main idea.
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Just follow the trend.
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