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EURUSD & GOLD

  • #2,581
  • Jul 22, 12:08pm (2 hr 13 min ago) Jul 22, 12:08pm (2 hr 13 min ago)
Something tough at 4144
  • #2,582
  • Jul 22, 12:08pm (2 hr 12 min ago) Jul 22, 12:08pm (2 hr 12 min ago)
house money now
later might go near 4190 if bulls hold it >4130
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  • #2,583
  • Jul 22, 12:29pm (1 hr 51 min ago) Jul 22, 12:29pm (1 hr 51 min ago)
Maximum up to 4400 and then drop
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  • #2,584
  • Jul 22, 12:40pm (1 hr 40 min ago) Jul 22, 12:40pm (1 hr 40 min ago)
Quoting PatienceFx
i do not plan to trade to earn, instead i trade strictly for time pass as i am a permanently disabled bed ridden ppms patient for whom money has no value because i do not need it That completely shifts the picture. If trading is an intellectual game to keep your mind active, engage with global macro events, and pass the time, then prop firm rules, risk caps, KYC checks, and regulatory hurdles are just unnecessary friction. When money doesn't matter and you aren't trying to generate an income, you don't need to fight through administrative red tape...
I read your post, and it's good to know your perspective, since that's precisely what every trader deals with daily—their own psychology. I want to try to understand your situation, and I really appreciate your input.
  • #2,585
  • Jul 22, 12:51pm (1 hr 30 min ago) Jul 22, 12:51pm (1 hr 30 min ago)
gold here now
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  • #2,586
  • Last Post: Jul 22, 12:53pm (1 hr 28 min ago) Jul 22, 12:53pm (1 hr 28 min ago)
It was a combination of factors:
-US02y yields fell;
-the DXY lost momentum;
-when gold broke above a key resistance level watched by the market:
a) technical buying kicked in above that level; b) a short squeeze occurred (short-position stop-loss orders were triggered, thereby accelerating gold buying).

Pay close attention to the 2-year yields as well, as they indicate potential changes to the federal interest rate in the near term (September). Gold reacts strongly when the US 2-year yield falls.
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