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  • #7,681
  • May 10, 2023 8:11am May 10, 2023 8:11am
Quoting Ravenfeeder
{quote} Are we ready to go down yet? It's gonna happen sometime, depends where the high goes. I don't think we can see higher than 2050 or 2062 today, and it goes up to there but not higher it might be a triple top in place, making the downside risk all the higher.. not to mention bearish divergence increasing then.
Market today I think will be crappy, because no strong news. Gold Should go to 2600, but if FED will not rise rates. In the long run.
  • #7,682
  • May 10, 2023 8:30am May 10, 2023 8:30am
Quoting damsak
{quote} If you remember 2 days ago posted a video of possible reverse points and exactly reversed from all reversed point. the last down reversed point has been just reversed now as the CPI data make positive for Gold. Market gone up and then reverse from our expected down reverse point Got some scalps too {image} {image} https://youtu.be/0QB4jmnZ_7E
Just touching the area and straight down without pullbacks. I call it pin point reverse zones. Not a Standard name though.
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  • #7,683
  • May 10, 2023 8:37am May 10, 2023 8:37am
Well. now I hink time to go back to 2049 ( I trade on M5 TF so sorry for long term ,,investors'')
  • #7,684
  • May 10, 2023 9:20am May 10, 2023 9:20am
Quoting Ravenfeeder
{quote} Are we ready to go down yet? It's gonna happen sometime, depends where the high goes. I don't think we can see higher than 2050 or 2062 today, and it goes up to there but not higher it might be a triple top in place, making the downside risk all the higher.. not to mention bearish divergence increasing then.
So GOLDIs! Price touched almost 2049 Today. Today I trade only 2-3 hours of Asian session and after that a long driving. Now reached at my home back.I hope all have enjoy today's trading day. Yesterday price reached up to 2037 and then back again but today 2049 almost .Trade safe
  • #7,685
  • May 10, 2023 9:31am May 10, 2023 9:31am
Quoting parveenverma
{quote}So GOLDIs! Price touched almost 2049 Today. Today I trade only 2-3 hours of Asian session and after that a long driving. Now reached at my home back.I hope all have enjoy today's trading day. Yesterday price reached up to 2037 and then back again but today 2049 almost .Trade safe
Now my 4H & hourly charts start shouting to reach 2062.But its just starting of the shout. Let's wait for the close of today's trading day and analyze it in depth.Trade safe
  • #7,686
  • May 10, 2023 9:51am May 10, 2023 9:51am
Quoting parveenverma
{quote} Now my 4H & hourly charts start shouting to reach 2062.But its just starting of the shout. Let's wait for the close of today's trading day and analyze it in depth.Trade safe
I will wait for your analysis. I already took safe short position and closed it. As per US economy, i am very careful on taking short position. Yes i am holding one long position and lets see where it goes.
Love for all; Hatred for none.
  • #7,687
  • May 10, 2023 9:56am May 10, 2023 9:56am
Quoting aahmad29
{quote} I will wait for your analysis. I already took safe short position and closed it. As per US economy, i am very careful on taking short position. Yes i am holding one long position and lets see where it goes.
It is still dropping, but I am also very careful as Gold can rebound anytime, but I am hoping it goes down until 2020, as I have a short at 2025.
"Who Dares Wins"
  • #7,688
  • May 10, 2023 10:01am May 10, 2023 10:01am
Work in progress.
Will it come to pass, contributions please.
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  • #7,689
  • May 10, 2023 10:35am May 10, 2023 10:35am
Quoting Ravenfeeder
{quote} It is still dropping, but I am also very careful as Gold can rebound anytime, but I am hoping it goes down until 2020, as I have a short at 2025.
I hope you have closed your short now because 2022 a strong support level and can cause price reversal if broken then one more 2016 is waiting below. If 2016 61.8% of 4H holds then 2062 will be activated.let's see what final price today's close give us.Tomorrow prior Asian I will prepare my hourly charts again for tomorrow. Trade safe
  • #7,690
  • May 10, 2023 10:45am May 10, 2023 10:45am
Quoting Ravenfeeder
{quote} It is still dropping, but I am also very careful as Gold can rebound anytime, but I am hoping it goes down until 2020, as I have a short at 2025.
I had sell stop @2019 but i deleted it. I do not want to take risk. But if you really wanted to take short position it should below 2022
Love for all; Hatred for none.
  • #7,691
  • May 10, 2023 9:13pm May 10, 2023 9:13pm
I just opened a sell position at 2035.10. Expecting face down to test 2022 again.
Simple chart. Just sell order at 2045-47, and buy order at 2022, until before US news.
Today have news from BOE interest rates, and later US jobs claims + PPI. From my point of view PPI data will shake gold market, with large move, same as CPI yesterday. Now PPI forecast is 0.3 %. Over it gold will fly up again, testing previous levels. Under it, will fall sharply probably touching 2000 level again, even lower.
Trade safe
  • #7,692
  • May 10, 2023 9:29pm May 10, 2023 9:29pm
Quoting jordiHK
I just opened a sell position at 2035.10. Expecting face down to test 2022 again. Simple chart. Just sell order at 2045-47, and buy order at 2022, until before US news. Today have news from BOE interest rates, and later US jobs claims + PPI. From my point of view PPI data will shake gold market, with large move, same as CPI yesterday. Now PPI forecast is 0.3 %. Over it gold will fly up again, testing previous levels. Under it, will fall sharply probably touching 2000 level again, even lower. Trade safe
As per my 4H chart previous candle close above daily level so next possible move become to at least 2040 first. 1H same story market is moving up from 38.2% level and if it continue goes then today's target can become 2062. My 4H chart is also targeting 2062 because yesterday market reverse from 223.6 level and take a support on 2030 that now become strong support of 4H TF and if it will target it's 261.8% level that also become 2062.I may be wrong.Trade safe
Edit: You are right if price attack the 2021 support then possible downward target become 2001.
  • #7,693
  • May 10, 2023 9:36pm May 10, 2023 9:36pm
Yesterday was a good day, with nice wins. Hopefully today can keep the trend.
Still keep opened sell position from 2035,10 and moved SL to BE.
Trade safe
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  • #7,694
  • May 11, 2023 1:57am May 11, 2023 1:57am
Quoting letuak
Work in progress. Will it come to pass, contributions please. {image}
I maintain the same view and, at least in terms of the pattern, I would be biased towards a continued decline.
The rapid decline after yesterday's rising CPI data might tell us something.
Just follow the trend.
  • #7,695
  • May 11, 2023 2:05am May 11, 2023 2:05am
Quoting lucaswalliam
{quote} I maintain the same view and, at least in terms of the pattern, I would be biased towards a continued decline. The rapid decline after yesterday's rising CPI data might tell us something.
Same is happening now on GU, though it's a game of probability but price is the king.
  • #7,696
  • May 11, 2023 2:17am May 11, 2023 2:17am
Quoting letuak
{quote} Same is happening now on GU, though it's a game of probability but price is the king.
Yes. Data quotes may just be the catalyst for the market, the catalyst that tends to disturb the trading mindset.
Just follow the trend.
  • #7,697
  • May 11, 2023 2:18am May 11, 2023 2:18am
Support 2016 , Resistance 2058
  • #7,698
  • May 11, 2023 2:26am May 11, 2023 2:26am
the catalyst that tends to disturb the trading mindset.[/quote]

You nailed it.
  • #7,699
  • May 11, 2023 2:26am May 11, 2023 2:26am
Quoting Jolita
Support 2016 , Resistance 2058
I can't find your spot.
In the short term, gold is still maintaining its oscillation down, which is my thinking.
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Just follow the trend.
  • #7,700
  • May 11, 2023 2:57am May 11, 2023 2:57am
Quoting lucaswalliam
{quote} I can't find your spot. In the short term, gold is still maintaining its oscillation down, which is my thinking. {image}
Lol
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