Attachments: Gold

Gold

#49,401
Oct 28, 2024 4:26pm Oct 28, 2024 4:26pm

Sandy1994
Joined Mar 2024 | Status: Trader | 467 Posts

This is my analysis on Gold, as there's a nice channel that indicates further bullish momentum on the 1-hour chart. I believe it will rise to the end of the trendline that formed the channel within the screenshot I posted within this notifier. I see Gold heading to 2769. it's better to buy and hold.

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#49,402
Oct 28, 2024 4:53pm Oct 28, 2024 4:53pm

Polimini
Joined Mar 2022 | Status: Trader | 2,455 Posts | Online Now

Quoting Tintin2014

Disliked

{quote} Mid-September prices and today's chart are different; take another look. Not everyone is losing money. It's not right thing to tell people to avoid trading gold in this current market situation, each trader has their unique plan and strategy. Some market condition trader lose money and some condition makes a good amount of money. Gold often throws a fake-out before making its reversal. 2750~60 is very much possible. For now, this is my predition. supply and demand zone is not complete yet. Once these zone price come, need to check the volume...

Ignored

i didn't said to not trade, it is going up and down in the LTF's every day, but committing to a longer downtrend that still isn't clear is dangerous. How many times a top for gold was called here? sometime someone will be right i guess. Just wait to decide on the major trend.

A rising wedge may be forming but we must wait.

#49,403
Oct 28, 2024 5:05pm Oct 28, 2024 5:05pm

Mannymatics
| Joined Oct 2024 | Status: Trader | 1 Post

Please, who knows the best scalp method to trade high impact news? Enter, take the pips, and exit the trade.

#49,404
Oct 28, 2024 5:13pm Oct 28, 2024 5:13pm

Catempire
Joined Nov 2013 | Status: Only thing to change was the view. | 2,444 Posts

Quoting Catempire

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Taken some shorts. @ 2744.73 & 2744.63 SL tight as a nuns… @ 2745.03

Ignored

I think that was one of the best positions I’ve taken in a very long time.

2 x half Lots, -30 & -40 SL against… +900 & +2000, cracking RnR.

@Polimini - noticed that earlier too. Set to break before end of the week.

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Que Sera

#49,405
Oct 28, 2024 5:29pm Oct 28, 2024 5:29pm

Neowarcloud
| Joined Jul 2024 | Status: Trader | 204 Posts

Quoting Polimini

Disliked

{quote} i didn't said to not trade, it is going up and down in the LTF's every day, but committing to a longer downtrend that still isn't clear is dangerous. How many times a top for gold was called here? sometime someone will be right i guess. Just wait to decide on the major trend. A rising wedge may be forming but we must wait.

Ignored

I agree its too early to confirm bear yet, I think some people are looking at the uncertainty of the US election in 2016 and expecting mega moves off the back of that.

There are a few things we do know.

1) We're still in the ATH range
2) We've put in higher lows (4HR) and higher highs though the next is unconfirmed
3) We had a BOS to the downside

What it tells my strategy is we've got mixed indications
So I'll play the range with a slightly bullish bias.

#49,406
Oct 28, 2024 7:01pm Oct 28, 2024 7:01pm

sadsoul
| Joined Oct 2024 | Status: Trader | 112 Posts

Kindly share your responses

if Fed decides to cut 0.25 points which is expected then will the price of gold goes up again madly or it wont react as market already swallow that ?

#49,407
Oct 28, 2024 8:07pm Oct 28, 2024 8:07pm