Joined Aug 2012
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Status: Love for all; Hatred for none
|3,475 Posts
H4 Sinewave analysis: Not everything is perfect in this market. I wanted to give you downside of market so that traders don't think that sinewave is perfect to catch the market movement. Here is the example of H4 TF where bottom part did not complete the wave as per calculation and hit the target. This is one of many reasons that i start adding positions little bit before the expected return or after the expected return , if market push the price out of limit to hunt SL's.
This is confusion created by market. I am hoping that market will correct itself to complete the wave but it is not necessary and market can go up.
Dont get carried away by correlations, i have seen gold go up and down with dxy so always look to see what the structure is showing .. ie if dxy goes up then you would assume gold will go down and generally it will but dont get fixed on it
During last month I have been trying to understand the big picture, and the mid-long term direction. The market shows an anomaly in gold price, since 1 YEAR ago. The cause... China, India, Egypt, Turkey, Poland, Qatar, UAE, Oman,... are buying gold like crazy, what kept the price in uptrend, until it created the TRIPLE TOP.
Since one year ago, with inflation decreasing quite fast, and FED increasing interest rates... gold should drop. This anomaly started last year (Sept 2022). So...
What's next?
THIS WEEK KEY NEWS (CPI EUR / CPI UK / FED INTEREST RATES)
Option 1: FED maintain/increase interest rates with a stable inflation + countries buying gold => Gold price ranges (strong support at 1890) or goes up slowly until find historical top. //SAME SCENARIO SINCE LAST YEAR//
Option 2: FED slows down the interest rates=> Gold will breach all-time historical highs very soon
Joined Mar 2008
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Status: Name real with real own way
|20,489 Posts
Morning! Just checking pa, testing previous top, so may look breakout at 1929, signal 1828.36, 1927.67 confirmation for limit test 1926.59, breaks or not. . Take care
Attached Image(s) (click to enlarge)
Not understand?better not follow my analyses!doubt clearer first, risks ++