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  • #45,901
  • Oct 4, 2024 10:46am Oct 4, 2024 10:46am
Quoting Interesting0
Central banks buying less gold Net purchases in August were lowest monthly level since March, says World Gold Council
Central banks accumulated less gold in August than in any of the four previous months, according to data published by the World Gold Council (WGC). Net purchases fell to 8 tonnes, compared with 37 tonnes in July. This was the lowest monthly net buying total since March, when central banks reported net sales of 2 tonnes. The August figure was also significantly below the net average over the last 12 months of 33 tonnes purchased.

Quoting Interesting0
{quote} Central banks accumulated less gold in August than in any of the four previous months, according to data published by the World Gold Council (WGC). Net purchases fell to 8 tonnes, compared with 37 tonnes in July. This was the lowest monthly net buying total since March, when central banks reported net sales of 2 tonnes. The August figure was also significantly below the net average over the last 12 months of 33 tonnes purchased.
when the buying stops the selling starts
  • #45,902
  • Oct 4, 2024 10:53am Oct 4, 2024 10:53am
Thought I was done for the week.... but small buy at 2648 won't hurt
  • #45,903
  • Oct 4, 2024 10:54am Oct 4, 2024 10:54am
Quoting PushnPull
{quote} Total death trap
I should stop doing prediction after news. Totally crushed both sides.
  • #45,904
  • Oct 4, 2024 11:01am Oct 4, 2024 11:01am
Quoting PushnPull
{quote} I should stop doing prediction after news. Totally crushed both sides.
everyone’s been right and wrong today… price more a less unchanged within range… data was +++ short lived , gold doing its own thing
this next 4hr for me n I might be out
  • #45,905
  • Oct 4, 2024 11:08am Oct 4, 2024 11:08am
Quoting PushnPull
{quote} I should stop doing prediction after news. Totally crushed both sides.
Just focused on what you want to be either buyer or seller. If you want to be a buyer, focus on the buyer. If you focus on being a seller, focus on the seller. You cannot become a buyer and at the same time become a seller. It totally, crushed both sides. Just my personal opinion.
Look right, we'll see the signs
  • #45,906
  • Oct 4, 2024 11:10am Oct 4, 2024 11:10am
Quoting Interesting0
{quote} everyone’s been right and wrong today… price more a less unchanged within range… data was +++ short lived , gold doing its own thing this next 4hr for me n I might be out
Better be out, this type of price action could be central or big banks doing their transactions. Not for us.
  • #45,907
  • Oct 4, 2024 11:15am Oct 4, 2024 11:15am
Quoting azhantahir
{quote} Just focused on what you want to be either buyer or seller. If you want to be a buyer, focus on the buyer. If you focus on being a seller, focus on the seller. You cannot become a buyer and at the same time become a seller. It totally, crushed both sides. Just my personal opinion.
Thanks. I'm always a buyer of Gold, and I just forced to close my Longs at 2630. After this NFP, i'm thingking of 2600~2595 could be next levels to re-enter.
  • #45,908
  • Oct 4, 2024 11:19am Oct 4, 2024 11:19am
Quoting PushnPull
{quote} Thanks. I'm always a buyer of Gold, and I just forced to close my Longs at 2630. After this NFP, i'm thingking of 2600~2595 could be next levels to re-enter.
undecided right now so probably best to wait for direction less stress and than holding after close
could be h&s forming on 5min but can’t see much lower now today as volume dries up , soo many opportunities to bag profit today

Quoting Interesting0
{quote} undecided right now so probably best to wait for direction less stress and than holding after close could be h&s forming on 5min but can’t see much lower now today as volume dries up , soo many opportunities to bag profit today
target 2625 or near that’s a big head
  • #45,909
  • Oct 4, 2024 11:42am Oct 4, 2024 11:42am
Indeed, usually the rule is until price breaks out of the range just play the range it's actually super safe with Gold
If you zoom out you'll see that we have create the low and top of the range on Monday/Tuesday and stayed within that range all week, meaning the structure is still bearish on the 4H as we havent broken above previous high at 2673, so the logical next step would be a new low below 2624.
Obviously that is the technical aspect not taking into account geopolitical aspect wich 100% fuels the bullish momentum and keeps price in that range.
  • #45,910
  • Oct 4, 2024 11:43am Oct 4, 2024 11:43am
Gold taking liquidity of both sides today.
atm hard to tell what next.
Bulls still favors no matter what, we must get a new HH, price action demand it, next week or after, it will happen.
  • #45,911
  • Oct 4, 2024 11:51am Oct 4, 2024 11:51am
Quoting azhantahir
{quote} Hit TP1 Looking for TP2 and D1 must closed above that point. If not happen, it becomes a week of consolidations between upper and lower prices. Seems scary for buyer and seller.. huhuhu {image}
No more TP2. Week of consolidations. Next week waiting for new consolidations.
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Look right, we'll see the signs
  • #45,912
  • Oct 4, 2024 12:44pm Oct 4, 2024 12:44pm
Quoting clin0312
look at this guys am begginer in trading {image}
Bullish market draw from swing high to low, buy below 50% for discount price.

Bear market from swing low to high, sell above 50% for premium price.

38.2 - 50 - 61.8 highly reactive zones at-least on gold, these 3 levels will work as support/resistance but don't take them for granted.

If price is breaking out you can target the 161.8 zone, from my experience after a breakout price always reacts around 161.8 often reverses but with strong sentiment it can easily break through (this is from my experience using it and i use it on a higher timeframe)

People use fib differently but this is what works for me.

The time frame you use it on also matters depending on your style of trading, having more confluences (support/resistance, OB's, FVGs, liquidity whatever rocks your boat) will also make for a better trade, good luck.
  • #45,913
  • Oct 4, 2024 1:14pm Oct 4, 2024 1:14pm
Both bears & bulls got slaughtered today. Despite such good numbers gold didn't fall so not sure what willl bring it down.

Saying that, bears will have a chance if today is closed below 2640 then next week 2600 can be targeted. I am holding sorts hoping to close at 2642

Alternatively bulls needs to break 2670 make new HH.

Happy Weekend to all.
  • #45,914
  • Oct 4, 2024 3:25pm Oct 4, 2024 3:25pm
Quoting azhantahir
{quote} No more TP2. Week of consolidations. Next week waiting for new consolidations. {image}
IF I May ask what exactly confirmed that consolidation awaits price next week for you
However, all your insight and precision as an SMC trader trading ICT concept are appreciated.
It's been very useful.
  • #45,915
  • Oct 4, 2024 4:35pm Oct 4, 2024 4:35pm
From perspective, price reaching this trendline gave two times strong reaction. I will wait to reach that target to start to look more on bearish side for longer time, It would be nice if at that time some fundamentals would support that idea too.
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  • #45,916
  • Oct 5, 2024 3:00am Oct 5, 2024 3:00am
hard week for the scalping but time to enjoy the weekend everyone
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https://t.me/biogoldscalper
  • #45,917
  • Oct 5, 2024 4:51am Oct 5, 2024 4:51am
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Last week Status : (312pip,-100pip,-30pip, -40pip,-100pip) , Total: +42pip
Last week Win Ratio : 17/39 or %43
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I did less trade this week but still, "Not a good" / bad result ,
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I should work more on my mental game
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  • #45,918
  • Oct 5, 2024 7:13am Oct 5, 2024 7:13am
My last month and last week performance of strategy provider account.
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  • #45,919
  • Oct 5, 2024 7:17am Oct 5, 2024 7:17am
This one is my second account.
Account created on 12th September 2024.
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  • #45,920
  • Oct 5, 2024 4:36pm Oct 5, 2024 4:36pm
Gold 1hrs - next week view
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