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  • #13,221
  • Edited 2:48pm Jul 23, 2023 2:28pm | Edited 2:48pm
Quoting Fx3423454
{quote} Price can keep on slowly creeping up even while there are serious divergences. There are serious divergences on many investment classes right now. Think of it this way, don't you find it peculiar that gold has only appreciated by 2% against the USD in the past 11 years? You should find this concerning. Think outside the box. Also, gold going up would not signify a crisis as gold is not currently a risk off/safe haven asset. Chart patterns and trendline breaks are extremely speculative and have less than a 28% chance of follow through.
Lets see what actually happen!
Good read about comparison to usd!
https://seekingalpha.com/article/436...e-crosses-2067
Gold outperform as safe heaven and continue play in 2023 too. Weakness in usd value and not alone this negative relation to gold, it does much more as investors get refuge in economic turmoils in gold much more than usd, so many fold up in comparison to usd!
Anyway I am not economic student, not knew any theory about and just vague! presume as per my ways of analyses!
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #13,222
  • Jul 23, 2023 2:36pm Jul 23, 2023 2:36pm
Quoting Fx3423454
{quote} Consolidations before breakouts don't look that sloppy. If you believe so strongly in chart patterns or S/R then what about the triple top? You are talking about a quadruple top which would be extremely bearish if you believe in price action. Between 1980 and 2000 gold did nothing but CRASH.
Gold is basically a hedge for rich people (not me) against inflation of money. People that have bought Gold around year 2000 have profited. And maybe time comes to reach new all times high.
  • #13,223
  • Edited 4:17pm Jul 23, 2023 4:00pm | Edited 4:17pm
Quoting Eren10
{quote} About from 2000 to 2011 it rose 600%. Then we had low inflation period. Basically it was in a consolidation period. Maybe 4th time visiting the 2070 will create a breakout.

youre forgetting about the premium one has to pay for gold coins...i just checked..a 1 ounce american eagle or buffalo coin and even the kruggerand which used to be a pariah all 2100 dollars so a huge ass premium if some joe blow that watches right wing television and gets swayed by the only commercials that play on those channels buys from a dealer LOL

now the people buying bullion have to pay a bank vault to store it on top of a premium to the dealer so owning physical gold isnt that great of an investment cause buyers get screwed and even selling costs a percentage....youll never get spot price LOL




they get you coming and going with physical gold cause you have to buy from a reputable dealer since shithole country gold coins are faked

edit: and dont forget the tax
short trump and go long the deepstate
  • #13,224
  • Jul 23, 2023 4:08pm Jul 23, 2023 4:08pm
Quoting Fx3423454
{quote} Consolidations before breakouts don't look that sloppy. If you believe so strongly in chart patterns or S/R then what about the triple top? You are talking about a quadruple top which would be extremely bearish if you believe in price action. Between 1980 and 2000 gold did nothing but CRASH.
i been saying for the past 3 months a comet will have to hit earth for gold to breakout to new highs LOL

the runup the last 2 weeks had to do with japans whining theyll enter the forex market to sell dollars and chinas selling dollars last week bbut the weekly signalled a sell....im a contrarian so im glad the bulls are back out claiming new highs
short trump and go long the deepstate
  • #13,225
  • Jul 23, 2023 4:09pm Jul 23, 2023 4:09pm
It's a new week, new insight everyone..
Okechukwu Jacob.C.
  • #13,226
  • Jul 23, 2023 4:15pm Jul 23, 2023 4:15pm
Quoting jacobokey12
It's a new week, new insight everyone..

same ole broken record from me LOL...bearish so will sell my longs sunday night if the BOJ dont intervene those sissies cause weekly is a sell and im glad nobody has pointed that out
short trump and go long the deepstate
  • #13,227
  • Jul 23, 2023 5:25pm Jul 23, 2023 5:25pm
Quoting Zebi
{quote} ill close this trade sometime during london session cause its just about the possibility of BOJ interbvention so no need to hold forever they been whining and crying and threatening to sell dollars for a couple weeks now so since china pulled the trigger last thursday the japanese might too
Sorry could you elaborate on that?

You said China have been selling the USD (which we are aware of as DXY has been dumping so makes sense) but BOJ too? Or have the BOJ already been doing it?
  • #13,228
  • Jul 23, 2023 5:26pm Jul 23, 2023 5:26pm
My analysis for the week ahead.

Key to note the weekly rejection wick, very very bearish if you ask me.
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  • #13,229
  • Jul 23, 2023 5:47pm Jul 23, 2023 5:47pm
Quoting Xauusdscalpr
{quote} Sorry could you elaborate on that? You said China have been selling the USD (which we are aware of as DXY has been dumping so makes sense) but BOJ too? Or have the BOJ already been doing it?
BOJ officials have been threatening to intervene the past two weeks... FF has been posting their twitters and announcements..you can probably still find them on FF... i suspect theyve been doing it stealthily at usa red news announcements cause the reaction is beyond what normally would happen especially during cpi news...that should have been retraced by now..been over a week and half

i feel foolish pointing this out cause i know everybody knows this

but as you can see on this weekly chart the last time BOJ intervened to sell dollars it made a bottom on gold...but that was at the lows...contrarianism says if they try that at the highs gold will falter the contagion of yen buying and dollar selling wont spread to gold this time so will either fall or range some more but i doubt will breakout ...just like once china stopped interveneing on thursday gold price fell much lower





Last year, Japan's Finance Ministry intervened with roughly $68 billion to prop up the yen on three separate days: Sept. 22, Oct. 21 and Oct. 24 — as the currency notched 150 against the greenback, weakening to levels not seen since 1990. Interventions are usually unannounced and consist of the central bank buying large amounts of yen using billions in dollar reserves.....from cnbc
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short trump and go long the deepstate
  • #13,230
  • Jul 23, 2023 5:52pm Jul 23, 2023 5:52pm
Quoting Zebi
{quote} youre forgetting about the premium one has to pay for gold coins...i just checked..a 1 ounce american eagle or buffalo coin and even the kruggerand which used to be a pariah all 2100 dollars so a huge ass premium if some joe blow that watches right wing television and gets swayed by the only commercials that play on those channels buys from a dealer LOL now the people buying bullion have to pay a bank vault to store it on top of a premium to the dealer so owning physical gold isnt that great of an investment cause buyers get screwed and...
In some countries service costs are lower. Basically during bad times gold will preserve its value. You should be able to sell money gold at spot price minus service costs at least.

For storage you should place it in your living room so that you can watch everyday how beautiful it is
  • #13,231
  • Jul 23, 2023 5:54pm Jul 23, 2023 5:54pm
theres no more inherent value to gold than there is to what the gold bugs like to say fiat currency ...its all a matter of putting your faith in the instrument of your choosing ...hell even bitcoin a better value than gold cause at least a person can use it in trade to buy a slice of pizza LOL...what merchant will weigh some gold shavings you scrape off a gold coin to pay for that pizza or loaf of bread?
short trump and go long the deepstate
  • #13,232
  • Jul 23, 2023 6:03pm Jul 23, 2023 6:03pm
Faith in Gold will remain much longer than any other monies. But indeed gold for these times can be used for larger stuff, like for governments, or buying expensive things.
  • #13,233
  • Jul 23, 2023 6:13pm Jul 23, 2023 6:13pm
Pivotline : 1959
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  • #13,234
  • Jul 23, 2023 6:28pm Jul 23, 2023 6:28pm
Quoting Zebi
long 1960.80 sl 1958 if happens to drop still today will hold over weekend to benefit from japanese dollar selling those whiney crybabies LOL

putting tp at 1971...hope it hits before i go to sleep cause ill close manually
short trump and go long the deepstate
  • #13,235
  • Jul 23, 2023 7:12pm Jul 23, 2023 7:12pm
Hello Monday,
first for the week 1961 long, 58 Stop , 66 tp
Happy trading week Comrades, trade safe
Consistency will bring everything...Be good.
100% Is The Target v.1 All Time Return: -95.4%
  • #13,236
  • Jul 23, 2023 8:00pm Jul 23, 2023 8:00pm
this is boring..wish the intervention would happen already...sunday is illiquid so BOJ would get extra value for their manipulation
short trump and go long the deepstate
  • #13,237
  • Jul 23, 2023 9:09pm Jul 23, 2023 9:09pm
Gold under pressure to test 1955 level.. i will wait for sometime. anyhow gold will break above.. will buy peacefully.
Everything, what's meant to be will find its way
  • #13,238
  • Jul 23, 2023 9:28pm Jul 23, 2023 9:28pm
Quoting profits7
{quote} ____________ will bank 50% profits$$$ @ TP1 1961 , SL man. , Not showin d fukkin dealer[s] ________________________ I like Milk {image}
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____________ will bank 50% profits$$$ @ TP1 1961
Don’t focus on making $$$, focus on protecting what you have.
  • #13,239
  • Jul 23, 2023 10:52pm Jul 23, 2023 10:52pm
The RSI lacks upward momentum!!!
  • #13,240
  • Jul 23, 2023 11:15pm Jul 23, 2023 11:15pm
Quoting d1zzy
{quote} Changed TP to 54.85 let's see what happens
Holding. TP confidently moved to 1945

Here's to a blue week to everyone! Happy trading!
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