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- Fenty replied Dec 1, 2023
Fundamentals are looking less bearish for gold. Falling yields and incoming recession that may have already started don't look like knocking it back down so far. The only hope is that gold only jumped up because of the war and it's price doesn't ...
- Fenty replied Nov 26, 2023
not from the ceasefire. This isn't the end, but it might suggest regional escalation is less likely. The DXY looks at support after a couple of big down weeks, so that might push gold down. XAUEUR looks at the end of an upwards retracement, so that ...
- Fenty replied Nov 25, 2023
I've only skimmed this thread because I'm on my phone, but I don't think you're looking at averaging in the right context. This appears to be based on a random mathematical approach and I agree that it's unlikely to be profitable long term. But used ...
- Fenty replied Nov 25, 2023
We're at a weird point right now. Gold is priced very high for its value yet the market sentiment would say gold is going up, especially against a currently weak dollar. I'd guess range or slightly up in the short term with a bigger down move over ...
- Fenty replied Nov 25, 2023
Remember that an annual return of 10% beats almost every fund going and is an exceptional return. I'm not saying you can't do better, a lot better. But 1% a week is incredible and compounded over a few years would make you very rich. Remember the ...
- Fenty replied Nov 24, 2023
Unless you're scalping, it's accurate. But it's very different on a real account. I would demo with a smaller amount that you're going to put in and trade the exact same way. No point having a 100k demo and watching your account go up by thousands ...
- Fenty replied Nov 24, 2023
Black Friday in US. Not usually much action in the markets over thanksgiving.
- Fenty replied Nov 23, 2023
I use MT5 from an old account and cTrader for a new one. Not sure what you mean by the same, there's no difference between demo and live if that's what you mean. Once I close the MT5 account, I'll never go back
- Fenty replied Nov 23, 2023
Makes sense, prop firms are mostly scams and the ones that aren't are deceitful.
- Fenty replied Nov 23, 2023
Try cTrader. Far better and not manipulated. MT4 has been proven to be manipulateable, so why trust the next version? Downside is it's big, but so much more modern and way more features built in. When my swap was incorrect, cTrader corrected it by ...
- Fenty replied Nov 23, 2023
It's a combination of USD weakness and falling treasuries. It's surely going down at some point, but hard to pinpoint when. Lots of speculation that the fed will start reducing rates early next year, but that's not what any data is showing. USD ...
- Fenty replied Nov 15, 2023
Gold price is going down, look at it in any other currency. That up move was only to do with USD. USD won't stay weak for long and when it recovers gold will crash.
- Fenty replied Nov 15, 2023
The expectation was bad news, it was always likely to be better than expected. I kept my shorts open, which was risky, but yesterday was an overreaction to CPI. The overall economy doesn't say inflation is going below 2% any time soon. So gold has ...
- Fenty replied Nov 15, 2023
See what the news brings. Expectation is low, if retail sales surprise to the low the dollar could sink further. But higher than expected and gold could crash. Core inflation is still way higher than they want, so I can't see how that reaction was ...
- Fenty replied Nov 14, 2023
How long was your confirmation, and how long until you decided you got it wrong? Seems both were too short. But actually I think it was a decent short term trade. After a big move, the market almost always retraces and you entered when the impulse ...
- Fenty replied Nov 14, 2023
This is just USD weakness, gold isn't going anywhere. USD won't continue like this for long and the gold trend will continue down. EUR just announced negative growth, will be in recession officially next year, they'll cut rates before the US. This ...
- Fenty replied Nov 14, 2023
Doubt it. 1960 looks like retracement area then down to 1915. CPI was lower than expected but still way above 2% on core inflation. Doesn't do much to change the higher for longer narrative
- Fenty replied Nov 12, 2023
No chance. Fundamentals do not price gold where it is now. It's going down quickly. Any gap up will be a retracement move.
- Fenty replied Nov 12, 2023
That's what I see. I'm hoping gold gaps up so I can get some big shorts in at market open
- Fenty replied Nov 11, 2023
Phone deleted a detailed post, not writing it all again. I'm out of sells for the weekend. Might be an up move, but not sure there's much value at this point. 1900 will almost certainly bounce. Down to 1800 before Xmas, maybe even this month. My ...