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  • #60,281
  • Jan 17, 2025 1:54am Jan 17, 2025 1:54am
Quoting Maria25
{quote} Near my stop i will wait for another opportunity {image}
I will also request you to rethink the current price action as we are in strong supply zone, tho it has be tested previous times you cant write it off, I think there is still some considerable strength in this supply zone.
Reanalyse and conquer
Learning from every trade
  • #60,282
  • Jan 17, 2025 1:57am Jan 17, 2025 1:57am
i kept a small sell setup

if price go to 2705.40 before activating my setup i will cancel it
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  • #60,283
  • Jan 17, 2025 2:08am Jan 17, 2025 2:08am
Quoting farukh
{quote} yesterday, it has done retracement till 2676 as anticipated then continues.. bulls are still in there, targeting 2715-2725. fellows.. be cautious of any short term retracement while taking entry. money management & risk management is the key for entry and exit
Alhamdulillah! bank the final target 2715-2725, setup completed. short term retracement going on currently.
now either day close above 2725 will give opportunity to go long again OR i will wait if i find any sign to buy again in the area 2700-2710 (fib levels 23.6 to 38.2 of recent uptrend on H1) to target 2720-2725.
otherwise, sitting on wait n watch. patience is one of the keys!
P.S. Trade with the discipline of Money Management and Risk Management.
  • #60,284
  • Jan 17, 2025 2:09am Jan 17, 2025 2:09am
Gold is expected to decline in value.
SURFER
  • #60,285
  • Jan 17, 2025 2:19am Jan 17, 2025 2:19am
Perhaps the most prudent thing is not to risk too much margin at this time. My two entry points at this moment are buying in the 2660 zone or selling in the 2750 zone. Whichever occurs first, if I am right, of course.
The warrior of good
  • #60,286
  • Jan 17, 2025 2:42am Jan 17, 2025 2:42am
try another buy @2710 as i see very strong PA decline @ 2708/9 ON THE HOURLY CHART

SL @2708
TP @2720/23

Cheers
its all about Karma
  • #60,287
  • Jan 17, 2025 2:43am Jan 17, 2025 2:43am
trying a short here at a renko imbalance. SL 2714, TP1 2702, TP2 2690. high r/r means I can find another one higher (until 2720) with the same targets.

you know, the old buy high sell low strategy.
  • #60,288
  • Jan 17, 2025 2:43am Jan 17, 2025 2:43am
Quoting daemondeluxe
trying a short here at a renko imbalance. SL 2714, TP1 2702, TP2 2690. high r/r means I can find another one higher (until 2720) with the same targets. you know, the old buy high sell low strategy.
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  • #60,289
  • Jan 17, 2025 2:44am Jan 17, 2025 2:44am
My original tps most likely are right too, but my daily pattern point to 2706.944 , só keep an eye at this.
  • #60,290
  • Jan 17, 2025 2:52am Jan 17, 2025 2:52am
Quoting Deal
My original tps most likely are right too, but my daily pattern point to 2706.944 , só keep an eye at this.
If this M15/H1 closes under 2709.5 then its gonna whistle through 06 and take a hurdle at 02. we'll see.

If it closes 2711 might signal consolidation. If it touches 13 its either retracement or reversal and continuation.
  • #60,291
  • Jan 17, 2025 2:52am Jan 17, 2025 2:52am
Gold Eyes Third Weekly Gain on Rate Cut Hopes
Gold steadied at $2,715.09, driven by weak inflation data and Fed rate cut expectations. Analysts see a rise toward $2,770 if key levels break. Sentiment is boosted by falling yields and possible May cuts.
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  • #60,292
  • Jan 17, 2025 3:00am Jan 17, 2025 3:00am
Quoting ElCampeador
Perhaps the most prudent thing is not to risk too much margin at this time. My two entry points at this moment are buying in the 2660 zone or selling in the 2750 zone. Whichever occurs first, if I am right, of course.
I kept small amount of longs
The warrior of good
  • #60,293
  • Jan 17, 2025 3:01am Jan 17, 2025 3:01am
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ITB - Seeing Orderliness amongst 'Randomness'
  • #60,294
  • Jan 17, 2025 3:04am Jan 17, 2025 3:04am
Quoting Deal
My original tps most likely are right too, but my daily pattern point to 2706.944 , só keep an eye at this.
Are you expecting a top around 272x?
The warrior of good
  • #60,295
  • Jan 17, 2025 3:12am Jan 17, 2025 3:12am
Quoting ArrietaTech
Hi there, To all those Medium to Long Term Gold Shorters, I have a question. How much are you guys relying on the "Carry" Factor of the XAU Short trade? It's known that as a non-yielding asset one of the appeals of shorting this symbol is its Swap. I ask this question because I am short on this symbol on one broker I work with, and since the middle of December (on and off) swap has been turning sometimes Negative, SOmetimes positive, which makes to me no sense as the Interest Rate on EUR has become more or less constant and in XAU's case always...
True Gold is non-yielding asset, so swap depends on the interest rate differential between the currency it's quoted in USD OR EUR and the opportunity cost of holding gold. Swap rates are not standardized and depend on how your respective broker calculates and applies them. Brokers derive these rates from interbank rates otherwise known as LIBOR Rates offered on a daily basis, adding a markup, and this can vary significantly. This is why on some brokers you see the spreads and initial balance to open accounts vary from $100 to some institution requirements of IB account for FX is around $10k - 25K and above, well that's a different subject.. Secondly, During periods of low liquidity or high volatility specific around holidays or significant impact periods, brokers adjust swap rates dynamically depending on what LIBOR rates are being offered as most them use variable rates and not forget .. their risk exposure also which you would not be having access to !! , specifics i am not aware of exactly as you are asking about their business model . Now, When you are comparing the stability with EUR interest rate which has been relatively stable recently, what you are not factoring the LIBOR lending rate or funding cost for your broker which can have small fluctuations, influencing swap calculations and If the broker clients favor one side of the trade in your case short on XAU, they may adjust swap rates to balance their risk exposure. you can also look at spreads during this time which in particular on 11th December around LS FX open times exposure on short trades went ridiculous and the broker who was quoting anywhere from 5 - 7 pip spreads went to between 27 - 37 pips noticed and recorded on my broker terminal. What this tells me is risk exposure has increased and that the broker has incurred costs from positions (long / short) due to their hedging strategy or other internal mechanisms. If the swap calculation includes the currency such as EUR, fluctuations in EUR's funding cost might explain occasional negative swaps. What you need to do is ask your broker on a clear explanation of how swap rates are calculated. Ask if they adjust swap rates based on client position imbalances or market conditions, good luck with getting a clear answer on that one ..

Now to sum up here on this Gold forum would an average day trader or a session trader pay attention to such a detail ? NO .. they follow technical candlesticks with support and resistance and hunt for OBs and execute trade based on their analysis. Their reason for carrying forward a trade is driven merely out of technical scope rather than what Interbank rates are so the simple answer is a No as it does not matter to them. Hope that explains ..
Candlesticks dont move markets, Volume does
  • #60,296
  • Jan 17, 2025 3:19am Jan 17, 2025 3:19am
Quoting Eringu
try another buy @2710 as i see very strong PA decline @ 2708/9 ON THE HOURLY CHART SL @2708 TP @2720/23 Cheers
closed it

borrrringgg PA
its all about Karma
  • #60,297
  • Jan 17, 2025 3:21am Jan 17, 2025 3:21am
Quoting daemondeluxe
{quote} On the brokers side it has to do with how many unassigned contracts they have vs the liquidity pool they can access. If they have a big liquidity pool but a lot of traders they can shift the risk to the traders and get commission. After they get theirs from the central bank on overnight repo's they give you a bit back (positive swap) or they take back a bit (negative swap) if it costs them to borrow gold contracts pro rated in USD. This is dynamic and changes overnight. Normally they don't lose, but a couple of days per year they can't predict...
He (Praetorion) basically explained this but with the technical talk included.

This happens on your brokers side. Repo's are overnight repurchases for portfolio balancing. They own the contract, you trade a derivative of it each and every time you open a trade.
  • #60,298
  • Jan 17, 2025 3:24am Jan 17, 2025 3:24am
Quoting daemondeluxe
{quote} He (Praetorion) basically explained this but with the technical talk included. This happens on your brokers side. Repo's are overnight repurchases for portfolio balancing. They own the contract, you trade a derivative of it each and every time you open a trade.
Ah! there you go .. i just read that later
Candlesticks dont move markets, Volume does
  • #60,299
  • Jan 17, 2025 3:28am Jan 17, 2025 3:28am
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Let's get there first (boxed prices) and see if we get a continuation downward or a reversal to the upside.
Learn... Work Hard... Trade Alone
  • #60,300
  • Jan 17, 2025 3:31am Jan 17, 2025 3:31am
Quoting daemondeluxe
{quote} {image}
SL to BE+2, to cover slippage.

Lets see if it breaks it or not.
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