If Gold does pop higher from here, these are my calculated targets: 1583.60 1593.62 1603.64 1609.83 Although the last target will probably be unreachable - I can't outrule anything on nfp day. Going down, I think Gold will hit 1540/41 at least.

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Hi Gbpnewbird, It's not really whether the news is good or bad in my opinion, it's more to do with how traders react to the news. Our challenge as traders is to try and calculate what the majority of the traders are going to do, and we want to be in ...

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I think it's gonna tank from here.

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The bulls have been gathering for this since this morning, H1 MACD was the main key for me on this occasion

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short at 1564 and 1570 SL wide@1605

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The charts are the depiction of the constant struggle between bulls and bears. If you check your volume indicator in the build up to the 1556 break you can see there were plenty of buyers in the market, it stalled at this point i.e. the bears tried ...

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yep, there's always a little pre-nfp positioning going on. If the bulls are gonna make their move I think it could be today, that's possibly after a bit of nfp whip saw!

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There's a real fight going on in the 56 area - the bulls could break through.

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Positive divergence showing on H1 MACD - a strong bullish signal - we'll see what happens.

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If gold breaks 1556/57 the next upward target I have is 1564.22.

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I think we might meet support at 1533/1537. However, there is just no way of forecasting the next moves accurately, Gold has the potential to drop to the low 1400s. If and when it chooses to do that is an unknown, but my guess is that it could rally ...

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Looks like buyers have been creeping in since 9am GMT.

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the current price action/pattern indicates that we could re-visit 1556/57 again, which could be minor near term resistance.

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Shorts grinding lower...

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I'm sure alot of analysts skim over these threads to get different angles on the market. The institutions always want know what 'retail' are doing, so they can wipe out an opposing sentiment on the market, to promote their own positions. It can be ...

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These shorts are big orders, so I'm going to set SL to break even asap. It's possible we could square off at 1540 or a tad below (1537/33). If that happens, I think Gold will full throttle upwards with possibly NFP as the stimulus - we'll see how ...

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I think we've entered what I call the 'choppy' bit. The big long impulse momentum waves are over for a while, but they will be back. Until then, we'll have fun navigating the whip-saw and 'spikey' price action.

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Some days are like that, remember there's always a trading opportunity to be had every day...so you can look forward to your next trade

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short order in play from 1556 - let's see where it lands - thinking back down to 1548/44 at least.

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One of the biggest challenges to a trader is a triangle - it messes with the trader's patience and psychee, slowly winding them up. When I see this, I pull back from the market and just let it scribe itself out. image

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