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  • #28,081
  • Mar 8, 2024 7:58am Mar 8, 2024 7:58am
Quoting Khenedee
So guys what’s the news interpretation
Mixed but they amplified the results and went all over the place and whoever was the reason for golda bull run all this week took advantage of this and made a new high. For now looks like both the bears and bulls are holding it tight all we can do is see who wins.

But some of us are expecting the bear run to start now.
Never stop learning. Improvise, adapt, overcome.
  • #28,082
  • Mar 8, 2024 7:59am Mar 8, 2024 7:59am
Quoting LitEU
{quote} Retail traders are heavily short on Gold, while the big players keep buying.....the daily is heavily bullish same with 4hr and 1hr why trade outta the trend....do the opposite of what retail does when new comes out economic data {image}
Where could i find it? Thank you
  • #28,083
  • Mar 8, 2024 7:59am Mar 8, 2024 7:59am
AS usual, icmarkets wont let me login to personal area.
  • #28,084
  • Mar 8, 2024 8:03am Mar 8, 2024 8:03am
my conclusion on todays figures NFP etc...
The published figures are not reliable since they are always revised.
Same for the forecasts.
The FED will have a difficult job and thats why they will act very slowly and might wait longer before cutting rates
  • #28,085
  • Mar 8, 2024 8:06am Mar 8, 2024 8:06am
Quoting LitEU
{quote} Retail traders are heavily short on Gold, while the big players keep buying.....the daily is heavily bullish same with 4hr and 1hr why trade outta the trend....do the opposite of what retail does when new comes out economic data {image}
source?
  • #28,086
  • Mar 8, 2024 8:08am Mar 8, 2024 8:08am
Bears took an action
  • #28,087
  • Mar 8, 2024 8:22am Mar 8, 2024 8:22am
you ain't nothing but a hownd dog.... crying all the time... hahaha
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  • #28,088
  • Mar 8, 2024 8:22am Mar 8, 2024 8:22am
To random traders out there, here are some do's and don'ts if you're new to trading.
Don't trade if you lack knowledge, no proper money management, during news, don't revenge trade.
If you really wanna be successful try to learn atleast basics, learn a strategy, adapt to it and then open a demo and trade there as if it's real and keep on learning both from sources online and from your mistakes. Open a real account within 500 to 1000 usd ( 100 usd can also be used but following proper mm it takes time to see good enough profits for one's eyes, if you have time then you can start with 100usd and that's better) after you think your strategy and your mindset are good enough and my personal advice don't take trades without a stoploss. Have a plan with achievable goals like 1% - 5% growth everyday and when you reach it close for that day and set a long term goal to reach like 50k or 100k until then compound your account.
Consistency is the key to be successful, winning big in a day can also lead to loosing big in a day if your greedy, so stay away from greed. There will be loosing days or loosing weeks but in the long run if your strategy and mm are good, these small losses doesn't matter. Don't stress yourself, only trade with money you can afford to loose, if it's a funded account you know the rules.
For those who trade big lots with no stoploss on small accounts, when you take a trade don't think about a future where TP hits think about a future where it hits your stoploss or goes beyond your margin call, will you be alright with that? If yes then ok if not don't enter the trade it's that simple, this ain't no rocket science neither is it a music notebook, so go out there choose a reliable broker, learn, apply, adapt, improvise, have emotions in control and voila you're good to go. Stay safe out there, happy trading and green pips to you.
Never stop learning. Improvise, adapt, overcome.
  • #28,089
  • Mar 8, 2024 8:28am Mar 8, 2024 8:28am
Quoting Blavity01
I'm so confused, it was supposed to go down because NFP is up and yes i know dxy is down but it needed to go up because the NFP is higher than the forecast.
Its not as simple as the NFP is up so gold should go down. Last month's NFP number was heavily revised down. Also unemployment rate and average hourly earnings were worse than expected so overall this is not good news for DXY.
  • #28,090
  • Mar 8, 2024 8:29am Mar 8, 2024 8:29am
Quoting Blavity01
I'm so confused, it was supposed to go down because NFP is up and yes i know dxy is down but it needed to go up because the NFP is higher than the forecast.
Ummm... there where 3 high impact news events today. 2 of them where in support of gold and 1 was against it though nfp has the most impact like we did see it as soon as the news got released it wore off due to high bull pressure all through this week and other 2 high impact news.
Never stop learning. Improvise, adapt, overcome.
  • #28,091
  • Mar 8, 2024 8:31am Mar 8, 2024 8:31am
Quoting Zairul
you ain't nothing but a hownd dog.... crying all the time... hahaha {image}
Did you realize there is like 70% loss rate in that image and yes, i calculated the image very close
  • #28,092
  • Mar 8, 2024 8:35am Mar 8, 2024 8:35am
Quoting Srnz7
{quote} Ummm... there where 3 high impact news events today. 2 of them where in support of gold and 1 was against it though nfp has the most impact like we did see it as soon as the news got released it wore off due to high bull pressure all through this week and other 2 high impact news.
So the down momentum at first and now is from the NFP?
  • #28,093
  • Mar 8, 2024 8:38am Mar 8, 2024 8:38am
Quoting Blavity01
{quote} Did you realize there is like 70% loss rate in that image and yes, i calculated the image very close
no... if you learn price action 1st... learn how to follow a trend... correct timing for volume & volitility... the 70% you just calculated actually almost 5% only...
  • #28,094
  • Mar 8, 2024 8:40am Mar 8, 2024 8:40am
Quoting NextElliott
I can see 2033 - 2026 .. Price now 2160.. Bulls can take price to Moon or other planet.. but bottom target remain for bears 2033-2026 for now( it may extend ) .. For all bears: Keep hunting smartly till 2033 - 2026.. ====================================================== My previous same kind of forecast: https://www.forexfactory.com/thread/...5#post14756415 ====================================================== disclaimer: Love it or leave it.
Keep hunting smartly
I'm not always right.. I'm not always wrong neither
  • #28,095
  • Mar 8, 2024 8:41am Mar 8, 2024 8:41am
Quoting Zairul
{quote} no... if you learn price action 1st... learn how to follow a trend... correct timing for volume & volitility... the 70% you just calculated actually almost 5% only...
why you have to take a sell... when you see the trend.. momentum.. volitility... Price action is going up and still...the heavyweight champion of the world..
  • #28,096
  • Mar 8, 2024 8:41am Mar 8, 2024 8:41am
Quoting Blavity01
{quote} So the down momentum at first and now is from the NFP?
when there’s an important report such as the NFP always you will find a momentum moves up or down, until the market digest the numbers it will react accordingly … now the gold is moving down
  • #28,097
  • Mar 8, 2024 8:51am Mar 8, 2024 8:51am
Quoting Elliottway
{quote} Price will stay between 2159 to 2169 till NFP time. News time price will move up.. 2186 to 2191.. 2200 breaking above.. 2400
Planning to sell.. waiting for confirmation.
SURFER
  • #28,098
  • Mar 8, 2024 9:01am Mar 8, 2024 9:01am
Nah. Now that nfp has release. The ranges are created. 2185 and 2156.

Two possibilities. Long from 2156, or short from 2185. Strictly with SL.

Such as for long from 2156. Stop loss best at 2153.68. any break below that will drop.
Same goes for short at 2185. Stop loss best at 2192. Any break will shoot up.
Trading is very lonely
  • #28,099
  • Mar 8, 2024 9:30am Mar 8, 2024 9:30am
Quoting Elliottway
{quote}Planning to sell.. waiting for confirmation.
hi, newby here, not really confident in my decisions
is H1 and H4 forming a bearish setup?
  • #28,100
  • Mar 8, 2024 9:32am Mar 8, 2024 9:32am
we have fucked the Masons, by buying Gold at 1985 and selling at 2185. Our first target 2025, then 1992
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