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- #63,981
- Jul 16, 5:21am (4 hr ago) Jul 16, 5:21am (4 hr ago)
- Joined Jun 2013 | Status: enjoying life | 24,099 Posts | Online Now
- #63,984
- Jul 16, 5:35am (4 hr ago) Jul 16, 5:35am (4 hr ago)
{quote} I accept that, I just cant accept the fact of what others see in trading gold atm I guess, As I said just then I like this thread feels like a community to me!
pa has been pretty good since Asia close
- #63,985
- Edited 6:03am Jul 16, 5:36am (4 hr ago) | Edited 6:03am
- Joined May 2022 | Status: Trader | 8,348 Posts
good morning gentlemen
i pray people have learned that cpi and ppi have more of an effect on currencies like GU than gold and wont spout garbage next month when new data is released
charts are bearish so plain old TA will reign supreme where price is goin for the next week and a half since there no significant usd data releases till july 29th....look at the calender gentlemen so u stay informed and you dont get ur asses handed to you fighting the bearish trend
scotus killed gold when they ruled tariffs illegal so bulls will just have to come to terms with that reality before they develop stomach ulcers and possibly mental health issues
my take is price gona drift lower till the 29th maybe below 3880 since non inflationary data the last two days didnt even save gold
i pray people have learned that cpi and ppi have more of an effect on currencies like GU than gold and wont spout garbage next month when new data is released
charts are bearish so plain old TA will reign supreme where price is goin for the next week and a half since there no significant usd data releases till july 29th....look at the calender gentlemen so u stay informed and you dont get ur asses handed to you fighting the bearish trend
scotus killed gold when they ruled tariffs illegal so bulls will just have to come to terms with that reality before they develop stomach ulcers and possibly mental health issues
my take is price gona drift lower till the 29th maybe below 3880 since non inflationary data the last two days didnt even save gold
short trump and go long the deepstate
- #63,986
- Jul 16, 5:39am (4 hr ago) Jul 16, 5:39am (4 hr ago)
- Joined May 2022 | Status: Trader | 8,348 Posts
short trump and go long the deepstate
- #63,987
- Jul 16, 5:49am (4 hr ago) Jul 16, 5:49am (4 hr ago)
- Joined Sep 2017 | Status: Trader | 11,552 Posts | Online Now
- #63,994
- Jul 16, 6:04am (4 hr ago) Jul 16, 6:04am (4 hr ago)
- | Joined Sep 2023 | Status: Trader | 198 Posts | Online Now
{quote} Also Gold doesn't directly correlate to DXY either a lot of people think it does yes it does have influence but doesn't mean a direct inverse correlation. I like to picture it as Gold is the captain of a boat and DXY, Bonds is the water and wind you might have strong currents and wind not going your way but you have a hell of a good captain pushing through another thing to point out is this: Japanese Yen (JPY): Holds a 13.6% weighting in the DXY. British Pound (GBP): Holds an 11.9% The single largest component is the Euro (57.6%), while...
- #63,996
- Jul 16, 6:09am (3 hr ago) Jul 16, 6:09am (3 hr ago)
See how 4030 now changed to resistance on the 1M? You have to pay attention to stuff like this. Expecting a movement down now. Higher probabilities on my side{image}
GMK
- #63,997
- Jul 16, 6:09am (3 hr ago) Jul 16, 6:09am (3 hr ago)
See how 4030 now changed to resistance on the 1M? You have to pay attention to stuff like this. Expecting a movement down now. Higher probabilities on my side
- #63,999
- Jul 16, 6:18am (3 hr ago) Jul 16, 6:18am (3 hr ago)
{quote} Gold is like that one friend that nobody likes to hang out with so does its own thing
, Gold is a non yield when you think about it if inflation drives up and rates don't increase yes gold becomes more valuable but because inflation was hit so hard institutions priced in hikes making the $ more valuable, if inflation consists and rates stay low the dollar becomes less valuable and debt becomes greater which is bad for the US, but increasing rates doesn't necessarily mean good too as for the economy borrowing becomes costly, economic slowdowns its basically like a chain reaction but enough said this is all fundamentals and I have 3 rules:Rule 1: Emotions and Risk management (MOST IMPORTANT FORGET EVERYTHING AND NAIL THIS DOWN)
Rule 2: IOF (supply and demand)
Rule 3: Fundamentals (News, analysis and confirmations)