H4 has turned bullish, but we need a lot more bulls or it will remain just a retrace on the daily chart.
DislikedI think it's gonna be a retrace today due to profit taking.
Yesterday is quite a pure luck and gamble for me to be able profit 1500 pips.Ignored
DislikedI fail to see some useable (short term) structure on my daily gold chart. Does any body have a better chart?
Also attached the silver chart, which does show tradeable structureIgnored
DislikedThe FED now takes steps to fight inflation concerns. They said that they are ready to pull out bank reserves and increase interest rates when the time is right. FED is monitoring the inflation very closely. But on the other hand, who thinks that the FED is trustworthy ? They worked hard to make sure the banks sustain enough liquidity and now they are going to pull the money out when inflation strikes in ? What do you guys think where the gold is going ? I remain bullish, when the next negative GDP numbers start raining it will be bull's reign again....Ignored
Employment is going to be a plaguing problem. With oil inching up will cause hyperinflation or they have to raise rates and crimp the economy in the midst of a recovery. Oil over 100? over 75? Or further bottoming and slow economy. Perhaps oil back to 50 but that doesn't seem likely at the moment. Perhaps a rocky recovery with a lot of if's..Ignored
DislikedAfter todays action the chart is becomming clearer. I'll have some areas to look at during tomorrows action.Ignored
DislikedLast two days where boring for a daytrader like myself, but tomorrow might prove to become fun :-)Ignored
DislikedWhat concerns me is China, there are rumors that they will begin taking over European businesses which are low on liquidity, as you may know the debt to equity ratio of European (and especially german) enterprises is very high which makes them vulnerable in crisis and very lucrative for Chinese enterprises which can take benefits from the tax shield. These actions are also supported by the Chinese government. If such a massive buying rally starts the gold will decline despite of the inflation danger.Ignored
DislikedIf you'll forgive a newbie intrusion, any chance you could interpret your charts a bit, I'd be most interested to hear what you see in the patterns. Thanks!Ignored
DislikedHow about that move, too bad my target was missed for 80 pips, now I'll have to keep a trade in red )) looks like we will have the opportunity to buy cheap gold. I really hope this confidence lasts a bit longer than I expect... I was looking for best buy levels and my personal favorites are the strong resistance at 942 which should turn into a support and the ~875 levels if this should turn in to a trend. I currently have only 1 long position from 955.05 which is -499,5...Ignored