Gold | Page 519 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD

Attachments: Gold
Exit Attachments

Gold

  • #10,361
  • Jun 24, 2023 1:04am Jun 24, 2023 1:04am
Quoting Zebi
so whats the consensus about russia so i know if i should fade it or not im thinking the dollar will get bought up big time but also some gold by the toothless geriatric crowd that listen to those gold commercials on right wing radio and tv
Hi Zebi, lol you sure have a sense of humour! I also think some peeps will buy Gold, but, maybe Gold will drop due to Dollar as better safe-haven due to the fact that the consensus is more rate hikes and/or no cuts this year, which weighs on Gold.

Plus, it's kind of just a Russian rebellion, and them taking out their trash, not world war 3, so maybe this won't have people buying Gold. We will have to see what the new developments in news are by Sunday evening, and looking at the charts technically, Gold did make another bottom at 1919, but it is sooo close, and the higher timeframes... Like you said: Doesn't look good for the bulls... I would have to say we'll go down to 1910-1900
"Who Dares Wins"
  • #10,362
  • Jun 24, 2023 1:49am Jun 24, 2023 1:49am
Gold had its peak on 2100.
I think its before the summer starts.
So during the summer, we rarely see a trend changing.
Have fibonochi retracement from 2100. Then you will see that around 1890 area has the 61.
I have been selling gold from 2100.
It had around 2 weeks of ranging from 1940 - 1965. But, range got broken after the USD rate hike.
So i'm still on bull side
thanks
  • #10,363
  • Jun 24, 2023 4:31am Jun 24, 2023 4:31am
Quoting ShanA
Gold had its peak on 2100. I think its before the summer starts. So during the summer, we rarely see a trend changing. Have fibonochi retracement from 2100. Then you will see that around 1890 area has the 61. I have been selling gold from 2100. It had around 2 weeks of ranging from 1940 - 1965. But, range got broken after the USD rate hike. So i'm still on bull side thanks
Nice! I'm still waiting the Gold to return to the gap and this will be my entry point. Will think about where to put SL, however TP won't be necessary, because I think Gold will never return to 2000$ after triple top is taken out. Price is ~1870.
  • #10,364
  • Jun 24, 2023 8:09am Jun 24, 2023 8:09am
Looks like the Russian mercenaries are going to be stirring it up, Gold most likely going to drive quuite aggressively back to the high 1970-2000 area.

a shame because we had only just managed to break out of that range and now we're going right back to it.
  • #10,365
  • Jun 24, 2023 9:28am Jun 24, 2023 9:28am
Apparently there was news about Wagner before the markets closed and there was no reaction ( maybe in the last minutes there was some movement). Maybe the news was not widespread.

These actions can be over very fast.

Let’s see if Gold will open with a gap.
  • #10,366
  • Jun 24, 2023 10:27am Jun 24, 2023 10:27am
Quoting Ravenfeeder
{quote} Hi Zebi, lol you sure have a sense of humour! I also think some peeps will buy Gold, but, maybe Gold will drop due to Dollar as better safe-haven due to the fact that the consensus is more rate hikes and/or no cuts this year, which weighs on Gold. Plus, it's kind of just a Russian rebellion, and them taking out their trash, not world war 3, so maybe this won't have people buying Gold. We will have to see what the new developments in news are by Sunday evening, and looking at the charts technically, Gold did make another bottom at 1919, but...
Hi Ravenfeeder! I wish for your gorgeous weekend. Lets discuss gold upward or downward move with some facts that can not be negotiate. I am also a trend follower and if trade against the trend then only some small scalps. But at present the scenario of the GOLD is different for different traders. First of all .....on Friday price almost make the low @1910 but not touch the long term liquidity that was only $3 so far from this low but it reversed aggressively and start attacking short term liquidity again. I was also expecting price to grab below 1910 liquidity and at least draw a new low around 1900 or 1886 so my bias was Bearish on Friday. At present in weekly price has been reversed from fair value gap and take support @ 4H support and Daily have a short term fair value gap above so there is risk for both side because price can completely filled the weekly fair value gap along with the test that long term untested level below or price can attack upward to that daily fair value gap above and if filled it completely that can continue move to attack above bunch of short term liquidity of May month. So My bias are now bullish most probably because price is not interested in long term liquidity so it left that by only $3 margin for attack above liquidity of May, June month. But I will try only small buy or sell scalps not long position with tight stop loss as per the price action in this situation.All fellow traders views also will be more appreciated .Happy weekend Buddies.
  • #10,367
  • Jun 24, 2023 11:58am Jun 24, 2023 11:58am
Im going to be bullish until we reach the area 1950 and then wait a sell setup if it's allow me to ..
  • #10,368
  • Jun 24, 2023 5:00pm Jun 24, 2023 5:00pm
Quoting parveenverma
{quote}Hi Ravenfeeder! I wish for your gorgeous weekend. Lets discuss gold upward or downward move with some facts that can not be negotiate. I am also a trend follower and if trade against the trend then only some small scalps. But at present the scenario of the GOLD is different for different traders. First of all .....on Friday price almost make the low @1910 but not touch the long term liquidity that was only $3 so far from this low but it reversed aggressively and start attacking short term liquidity again. I was also expecting price to grab...
Which side has more untested areas; above the closing price or below ?
Love for all; Hatred for none.
  • #10,369
  • Jun 24, 2023 7:20pm Jun 24, 2023 7:20pm
Quoting Zebi
here's a 6 month chart ....i think price will range within those 2 lines for the nest 10 years {image}

heres an update to that chart i posted in march when everyone was boolish except me LOL

somehow i lost the lower blue line but price will most likely fall to it in 3 -4 years time since bools so delusional and stubborn and continue fighting these large timecharts....you all got 5 trading days to save yourselves from despair and depression for the next few years cause price has to close above that line at 1921 by friday or all is lost....even if it goes up to 2100 for the next 3 months AFTER friday close under 1921 its still a sell signal on the 1/2 year chart ...dont forget we've already got a monthly sell and friday we'll get a quarterly....go look at that chart LOL

good luck bools youll need it
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2023-06-24 191955.png Size: 20 KB
short trump and go long the deepstate
  • #10,370
  • Jun 24, 2023 11:45pm Jun 24, 2023 11:45pm
Quoting Xauusdscalpr
Looks like the Russian mercenaries are going to be stirring it up, Gold most likely going to drive quuite aggressively back to the high 1970-2000 area. a shame because we had only just managed to break out of that range and now we're going right back to it.
On what basis are you saying this? At the moment its just an internal issue of Russia which is more likely to be crushed by the government. Don't stir panic without giving proper reason for your analysis.
  • #10,371
  • Jun 25, 2023 12:36am Jun 25, 2023 12:36am
Quoting aahmad29
{quote} Which side has more untested areas; above the closing price or below ?
Weekly-1941,1865,1797
In 4H- short term untested levels @2002,1977 &1946 and long term levels 1854,1835 & 1821
Daily- 2006,1919,1914 & 1854
Hourly- 1912,1946,1948,1976,1978,2005
5M-2036,2016,2004,1991,1982,1978,1955,1950,1934,1928,1916,1914
  • #10,372
  • Jun 25, 2023 1:49am Jun 25, 2023 1:49am
Quoting parveenverma
{quote} Weekly-1941,1865,1797 In 4H- short term untested levels @2002,1977 &1946 and long term levels 1854,1835 & 1821 Daily- 2006,1919,1914 & 1854 Hourly- 1912,1946,1948,1976,1978,2005 5M-2036,2016,2004,1991,1982,1978,1955,1950,1934,1928,1916,1914
Thanks
Love for all; Hatred for none.
  • #10,373
  • Jun 25, 2023 1:59am Jun 25, 2023 1:59am
Quoting Pipsolengelo
{quote} On what basis are you saying this? At the moment its just an internal issue of Russia which is more likely to be crushed by the government. Don't stir panic without giving proper reason for your analysis.
It's adding uncertainty to a situation that's not been going anywhere. Markets don't like uncertainty. It could be seen as an internal issue so no change, or investors might flee to safe havens just in case.

Long term gold is going way down but this week it's likely going up. Wish I'd closed my sell on Friday night...
  • #10,374
  • Jun 25, 2023 2:42am Jun 25, 2023 2:42am
hi guys. happy weekend

I'm just focused on my 10-cent opinion based on RRR. Follows the market already told. Never argued with them. Last week I'm lost in the red sea of bullish candles. Today I'm having fun with BTC

"If we are too scared, the market won't give us. If we are too cooky or angry, the market will take from us. If we are prepared and composed, the market will reward us. The market basically trying to teach us about emotional balance." From: Lone Stock Trader @LoneStockTrader

trade safe.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 88 KB
Click to Enlarge Name: screenshot.png Size: 201 KB
Look right, we'll see the signs
  • #10,375
  • Jun 25, 2023 4:50am Jun 25, 2023 4:50am
Hello everyone ,
As you see from chart below TDI is giving sell signal where as stochastic is buy, PA it seems confirming bullish nature but high volume in bearish and TDI signal doesn’t seems too much bullishness.

Manage you risk happy trading
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_0819.png Size: 90 KB
  • #10,376
  • Jun 25, 2023 8:36am Jun 25, 2023 8:36am
_________________ Plenty to do with XU IMHO =
https://www.gbnews.com/news/world/pu...alcolm-rifkind
Don稚 focus on making $$$, focus on protecting what you have.
  • #10,377
  • Jun 25, 2023 9:12am Jun 25, 2023 9:12am
Quoting profits7
_________________ Plenty to do with XU IMHO = https://www.gbnews.com/news/world/pu...alcolm-rifkind

i for one dont believe western propaganda about the war...according to zelensky hes winning every battle and killing every russian yet the war is still raging 484 days later despite every nato country supplying ukraine with weapons and men...seems to me the russians are better army than is being reported
short trump and go long the deepstate
  • #10,378
  • Edited 11:31am Jun 25, 2023 11:07am | Edited 11:31am
looks like the scare of a russian civil war has waned so now we can go back to technical analysis showing where price will go instead of news taking over temporarily
short trump and go long the deepstate
  • #10,379
  • Jun 25, 2023 12:40pm Jun 25, 2023 12:40pm
Article in gold-eagle.com by JIM CURRY
覧覧覧覧覧覧覧覧覧覧覧-

Gold's Medium-Term View
For the mid-term picture, the 72 and 310-day cycles are still deemed to be pointing south, though with the smaller 72-day wave looking for the next key (in-between) bottom. Here again is that 72-day component:
https://www.gold-eagle.com/sites/def...jc062523-1.jpg
From my May 24th article: "In terms of price, our downside 'reversal point' was broken below, thus triggering in the downward phase of this 72-day cycle - as well as the larger 310-day component. With that, the smaller 72-day wave is pushing south into the mid-June timeframe, plus or minus, where it should bottom out - for the next multi-week rally phase."
As mentioned back in May, our downside 'reversal point' for this 72-day wave had been taken out, thus triggering in its most recent downward phase. Going further, our detrend analysis with this wave suggested that it would be headed lower into mid-June or later, where its next low should try to form.
Adding to the notes above, our 72-day 'oversold' indicator (lowest pane, in red) has recent spiked above its upper reference line, which is something we would expect to see on or before this wave bottoms out. With that, we have at least one technical suggestion that this wave is trying to trough.
Gold, Short-Term
As mentioned back in my May 24th article, even though the 72-day wave was deemed to be pointing lower into mid-June, Gold was at or nearing a smaller-degree low - coming from our 20-day cycle, which is shown below:
https://www.gold-eagle.com/sites/def...jc062523-2.jpg
From my May 24th article: "following my rule that a cycle will normally (i.e., 85% of the time) revert back to a moving average of the same length, the potential upside is back to the 20-day moving average, and/or the upper 20-day cycle band - each around the low-end 2000's for Gold. In other words, the potential upside for the near-term is back to the 20-day moving average or better, though - due to the position of the larger 72-day component - that rally would be favored to end up as a countertrend affair."
Gold did manage an in-between rally with our 20-day cycle, with the metal spiking back up to a high of 2000.50 (August, 2023 contract). Due to the position of our larger 72-day wave, however, that move was expected to end up as a countertrend affair - before giving way to lower lows into mid-June.
With the above said and noted, our 20-day detrend is projecting a low to form with this wave in the coming days, which seems favored to end up as the bottom for our larger 72-day cycle. Once that rally is complete, a decent rally is expected to play out into July, but a move which is favored to end up as another countertrend affair - holding below the 2104.00 swing top (the last 72-day top).
Technical Problems
Even with the 20 and 72-day cycles into bottoming territory, there is a glaring technical issue at the present time. That comes from our Gold Timing Index, which is shown on the following chart:
https://www.gold-eagle.com/sites/def...jc062523-3.jpg
The technical negative is that our Gold Timing Index has recently dropped to lower lows - along with price action. In other words, the best long signals will come, when this indicator is holding a divergence against price, where price makes a lower low for the swing, but the indicator fails to drop to lower lows.
Even with the above, our Gold Timing Index does not have to show a divergence at a 72-day cycle; it simply is seen as supportive of a key low forming.
Just as important going forward is whether the metal will be able to take out our next upside 'reversal point'. With that, we are now awaiting confirmation of 72-day low having formed - by taking out a key price figure to the upside - with the exact details always posted in our thrice-weekly Gold Wave Trader report.
Jim Curry
Love for all; Hatred for none.
  • #10,380
  • Jun 25, 2023 1:04pm Jun 25, 2023 1:04pm
Holy moly, what an article!

I understand from it that gold will tank further. Is that correct?
189 traders viewing now, 1 is registered:
Price369