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  • #18,161
  • Sep 8, 2023 10:58am Sep 8, 2023 10:58am
Quoting OutThere
{quote} Looks like UJ is encountering quite a resistance tho. Maybe it is consolidating for another breakthrough up too. What would be the catalyst either direction now? I know you mentioned China's weakness but that is just general. What will cause a sudden breakaway move up or down?
the main catalyst for currency movements is interest rate differentials. JPY is basically the only central bank that hasn't raised rates, so it's tumbling relative to everything.

Now the hiking is mostly over, it's guesswork over who cuts first. USD has been weak as they went higher faster, but the others caught up. Now we're looking at economic data to predict the cuts
US economy is looking much better than most, so expect USD strength for a while. Even if a big recession for US was on the horizon, it'd be a rush to safe havens and USD strength. If the US sneezes, the rest of the world catches a cold.

Basically, if you bet against the US right now, you're almost certain to lose unless it's catching a retracement.
  • #18,162
  • Sep 8, 2023 11:03am Sep 8, 2023 11:03am
Quoting luckytujuh
{quote} its chasing 1921. u can tp there. its trying to make a bottom wick in daily. which i said just now. but dont be hopeful. take what u can, and dont dream of tp. because market doesnt move against ur analysis


And there goes daily after tapping liquidity, now making a bottom wick
Trading is very lonely
  • #18,163
  • Sep 8, 2023 11:04am Sep 8, 2023 11:04am
Quoting kourosh1347
{image} {image} {image}
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  • #18,164
  • Sep 8, 2023 11:08am Sep 8, 2023 11:08am
Quoting Fenty
{quote} the main catalyst for currency movements is interest rate differentials. JPY is basically the only central bank that hasn't raised rates, so it's tumbling relative to everything. Now the hiking is mostly over, it's guesswork over who cuts first. USD has been weak as they went higher faster, but the others caught up. Now we're looking at economic data to predict the cuts US economy is looking much better than most, so expect USD strength for a while. Even if a big recession for US was on the horizon, it'd be a rush to safe havens and USD...
Thanks for the explanation. I usually don't pay any attention to these things because I believe to trade price action no matter where it is going and for whatever reason but certain times, in order to really take advantage of a move in full, one must feel the pulse of a pair to get a much better idea.
  • #18,165
  • Sep 8, 2023 11:26am Sep 8, 2023 11:26am
Quoting luckytujuh
{quote} And there goes daily after tapping liquidity, now making a bottom wick

i'm impressed..
  • #18,166
  • Sep 8, 2023 11:39am Sep 8, 2023 11:39am
Im not going to enter anymore trades. But. H4 closing soon. Price has break todays highs and breaks todays low.

But new h4 candle, price is going to retrace to 1922-1923
Trading is very lonely
  • #18,167
  • Sep 8, 2023 11:49am Sep 8, 2023 11:49am
Quoting Zebi
yesterday was a continuation sell sig on my daily chart..price would have to close above 1926 on daily to nullify it...dont think thats gona happen

so price attempted the reversal of trend by trying a V bottom and failed so with the china news yesterday the fall should continue cause i dont think theyll keep propping up gold now either..theyre defeated
short trump and go long the deepstate
  • #18,168
  • Sep 8, 2023 12:07pm Sep 8, 2023 12:07pm
Quoting Zebi
{quote} so price attempted the reversal of trend by trying a V bottom and failed so with the china news yesterday the fall should continue cause i dont think theyll keep propping up gold now either..theyre defeated

I don’t know if that is related to Gold. They will buy now Gold as a protection also against their own currency.

Next week CPI data will probably determine the direction of Gold.
  • #18,169
  • Sep 8, 2023 12:21pm Sep 8, 2023 12:21pm
Quoting luckytujuh
Im not going to enter anymore trades. But. H4 closing soon. Price has break todays highs and breaks todays low. But new h4 candle, price is going to retrace to 1922-1923
Bounced back from trendline and support near 1917.
Possible reversal from 1922-1925 area. (FIB 38%-61% of 4H candle)

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Trade safe.
Consistency & Patience
  • #18,170
  • Sep 8, 2023 2:07pm Sep 8, 2023 2:07pm
my chart gold H1 still bearish on bullish bias 1916 strong support zone the price action may be side ways until US CPI news and it will break upper trend line or bottom trend line.. H8 chart forming head and shoulder pattern..





Trade safe guys
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  • #18,171
  • Sep 8, 2023 2:29pm Sep 8, 2023 2:29pm
Quoting Zebi
{quote} so price attempted the reversal of trend by trying a V bottom and failed so with the china news yesterday the fall should continue cause i dont think theyll keep propping up gold now either..theyre defeated
It is still overall in the SR zone that has crossed up and down since June 2020. That is 3 years. There are a lot more moves below the current level than there is above. BOJ has managed to somehow handle the yen even at nosebleed heights above 2000
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  • #18,172
  • Sep 8, 2023 2:33pm Sep 8, 2023 2:33pm
WHAT an excited moves today, expecting further down next wk.

Enjoy the weekend, guys !!!
  • #18,173
  • Sep 8, 2023 3:45pm Sep 8, 2023 3:45pm
If this works then next target is 1935-1940
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Love for all; Hatred for none.
  • #18,174
  • Sep 9, 2023 9:50am Sep 9, 2023 9:50am
checking pa , likely looking below 1903 play , correspondingly usdx 105.87 . take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #18,175
  • Sep 9, 2023 8:17pm Sep 9, 2023 8:17pm
My 1 cents analysis. It maybe wrong. previous 2 week candle created a small wick, instead of a normal wick.
Its partly bullish for me 60%.

I analyse based on price action candles. So my bias is still bullish.
I am expecting price to tap liquidity on 1907 or 1903, before proceeding up.

last point of break will be 1896 for a change of character
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Trading is very lonely
  • #18,176
  • Sep 9, 2023 11:04pm Sep 9, 2023 11:04pm
I am a red now. Oh my thank you FF.
Trading is very lonely
  • #18,177
  • Sep 10, 2023 4:28am Sep 10, 2023 4:28am
Should i buy gold from the price 1919 tomorrow. Looking to 1922 1923 then drop again.
  • #18,178
  • Sep 10, 2023 5:21am Sep 10, 2023 5:21am
Quoting luckytujuh
My 1 cents analysis. It maybe wrong. previous 2 week candle created a small wick, instead of a normal wick. Its partly bullish for me 60%. I analyse based on price action candles. So my bias is still bullish. I am expecting price to tap liquidity on 1907 or 1903, before proceeding up. last point of break will be 1896 for a change of character {image}
Likely bullish as in a last leg up and correction after 3 top down below 1804.63 to apparent restart bull. Before medium term it likely jump again and again in playing 2 big traps, over 1986 and down for another below 1905 to and further below 1804.63. Take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #18,179
  • Sep 10, 2023 10:19am Sep 10, 2023 10:19am
Quoting fontu
{quote} Likely bullish as in a last leg up and correction after 3 top down below 1804.63 to apparent restart bull. Before medium term it likely jump again and again in playing 2 big traps, over 1986 and down for another below 1905 to and further below 1804.63. Take care {image} {image}
Dear, my understanding of your first chart in monthly time frame is price will go to 1870 and then 1986 and after that collapse to near 1750 and you considered price above 1986 as trap, but in your second chart you considered some up leg to 2020 and 2030. These are two different scenarios or what? Please kindly clarify.
  • #18,180
  • Sep 10, 2023 10:34am Sep 10, 2023 10:34am
My long term view based on NEO wave analysis. I will be long, when last leg of diametric correction is finished.
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