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  • #2,621
  • Jun 13, 2022 7:02am Jun 13, 2022 7:02am
Quoting aahmad29
Lower band is at 1828 and MA (Brown Line) is at 1821. Once price hit that level then situation will be more clear. My third buy limit order is below lower band at S3. So hope fully price rebound before hitting S3. All short positions are closed and now i am starting to add long positions. {image}
1784 is possible this week for bears
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,622
  • Jun 13, 2022 7:19am Jun 13, 2022 7:19am
this shows that retail traders are stretched long, thinking that inflation will make gold appreciate

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to flush them out, the price will go below 1800 decisively
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,623
  • Jun 13, 2022 7:24am Jun 13, 2022 7:24am
Quoting ForexGoose
this shows that retail traders are stretched long, thinking that inflation will make gold appreciate {image} {image} to flush them out, the price will go below 1800 decisively
If price break the support at 1825 then it will go further down to 1809 and 1789
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  • #2,624
  • Jun 13, 2022 7:32am Jun 13, 2022 7:32am
if I were to buy, then I would try at 1784 or 1767, with a stop loss under 1750
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,625
  • Jun 13, 2022 7:33am Jun 13, 2022 7:33am
Quoting goldbabe
Entered a short at 1878 when markets opened last night. Looking to take profit at 1830. Stop loss moved to 1867.
TP hit at 1825
  • #2,626
  • Jun 13, 2022 7:37am Jun 13, 2022 7:37am
Quoting ForexGoose
if I were to buy, then I would try at 1784 or 1767, with a stop loss under 1750 {image}
I agree with you. SL hunting can go further down and MM's are gonna buy at low.
Love for all; Hatred for none.
  • #2,627
  • Jun 13, 2022 8:50am Jun 13, 2022 8:50am
maybe there will be a brief pause around 1824, before dumping resumes
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,628
  • Jun 13, 2022 1:42pm Jun 13, 2022 1:42pm
Gold turned more bearish. 1810 and 1800 are likely the next targets. After that, there is 1784.
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,629
  • Edited 3:17pm Jun 13, 2022 2:52pm | Edited 3:17pm
So far No buy signal from H4 Band. MA is facing downward at 1798.
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  • #2,630
  • Jun 13, 2022 4:29pm Jun 13, 2022 4:29pm
The market priced in a 75 bps rate hike this week already. Gold could go up, I think.
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,631
  • Jun 13, 2022 7:30pm Jun 13, 2022 7:30pm
Sell limit order placed at 1840, stop loss above 1850, target is below 1800 hopefully.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,632
  • Jun 13, 2022 10:32pm Jun 13, 2022 10:32pm
Quoting ForexGoose
The market priced in a 75 bps rate hike this week already. Gold could go up, I think. {image} {image}
Hi

Why do you think it will go up if you do not mind my asking?

For the last 'n' years, USD was weakening, they were cutting the rates. Gold ballooned. It became the go-to parking center

Now USD is strengthening, they are increasing rates, shouldnt it be opposite?

Will appreciate your thoughts


Thanks
It's hard. Can be painful. But I love this world, this Forex world.....
  • #2,633
  • Jun 14, 2022 1:14am Jun 14, 2022 1:14am
Quoting zomba4rex
It became the go-to parking center Now USD is strengthening, they are increasing rates, shouldnt it be opposite?
That's the traditional view, yes. Gold pays no interest, so it becomes less attractive when treasuries are paying out.
  • #2,634
  • Jun 14, 2022 1:22am Jun 14, 2022 1:22am
Quoting ForexGoose
Sell limit order placed at 1840, stop loss above 1850, target is below 1800 hopefully.
Keep it @1845. This could get back to 1825
  • #2,635
  • Jun 14, 2022 3:09am Jun 14, 2022 3:09am
Quoting zomba4rex
{quote} Hi Why do you think it will go up if you do not mind my asking? For the last 'n' years, USD was weakening, they were cutting the rates. Gold ballooned. It became the go-to parking center Now USD is strengthening, they are increasing rates, shouldnt it be opposite? Will appreciate your thoughts Thanks
I’m trying to trade the volatility. The price can go up or down to extremes, retrace, and continue the trend. The market always exaggerates the price action.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,636
  • Jun 14, 2022 4:49am Jun 14, 2022 4:49am
If the FOMC rate statement shows that the FED will be aggressive in raising interest rates, the market will probably price in 375-400 bps by year end, which should make the dollar rally.

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Real rates are still going up because the FED is hawkish. Gold could still pull-back higher before resuming the downtrend.

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Quote
Real interest rate has a negative correlation with gold price.
Real interest rate = US 10-year bond yield - 5-Year, 5-Year Forward Inflation Expectation Rate
When the inflation % outgrows the interest rate raise, real interest rate declines and gold price rises. (Gold is more inflation-protected.)
When the deflation % is bigger than the interest rate cut, real interest rate rises and gold price declines. (Gold becomes less inflation-protected.)
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,637
  • Jun 14, 2022 7:18am Jun 14, 2022 7:18am
I think its possible to see 1805 to 1800 today or early tomorrow.
  • #2,638
  • Jun 14, 2022 8:19am Jun 14, 2022 8:19am
I am not good in analysis but i think 1809 has good support and price will move around this number then there will be one spike down break level of 1787 to hunt SL and then go up to 1850 or above by tomorrow.
Love for all; Hatred for none.
  • #2,639
  • Jun 14, 2022 8:22am Jun 14, 2022 8:22am
Quoting aahmad29
I am not good in analysis but i think 1809 has good support and price will move around this number then there will be one spike down break level of 1787 to hunt SL and then go up to 1850 or above by tomorrow.
If the rate hike tomorrow ends up being 50 bps instead of 75 bps, then Gold could shoot up high again.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,640
  • Jun 14, 2022 9:54am Jun 14, 2022 9:54am
Patience is my weakness and i couldn't stop myself from scalping when price was at certain strong support level so got some pips on rebound.
My chart is showing oversold and first buy signal is given. Now lets see how many more buy signal comes when price go down.
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