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  • #3,101
  • Aug 10, 2022 7:42am Aug 10, 2022 7:42am
1824 and then 1840 are possible targets for bulls after the CPI report
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,102
  • Aug 10, 2022 7:55am Aug 10, 2022 7:55am
Market now is pricing in 50 bps FOMC rate hike in September after the CPI report. This should also support Gold.
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,103
  • Aug 10, 2022 9:27am Aug 10, 2022 9:27am
This is interesting that after CPI report, H4 candle failed to close above 1800. May be some trap before it goes to 1835.
Love for all; Hatred for none.
  • #3,104
  • Aug 10, 2022 10:16am Aug 10, 2022 10:16am
Quoting aahmad29
This is interesting that after CPI report, H4 candle failed to close above 1800. May be some trap before it goes to 1835.
the pullback is probably just profit taking
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,105
  • Aug 10, 2022 12:40pm Aug 10, 2022 12:40pm
Quoting ForexGoose
{quote} the pullback is probably just profit taking
Next H4 candle is also expected to close below 1800. May be it is indication of bearish signal. Once SL are set then price will go to range of 1830-1840 to hunt stop loss and then price will go back to 1700.

I am not adding any long position. If price go up I will hold all my short positions because my bearish point of gravity is 1723
Love for all; Hatred for none.
  • #3,106
  • Edited Aug 11, 2022 10:41am Aug 10, 2022 2:24pm | Edited Aug 11, 2022 10:41am
Closed one short position 1799 - 1790. Set another sell limit at 1795 with TP@1789. All active positions are here. I will keep adding more short positions wherever it requires.
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Love for all; Hatred for none.
  • #3,107
  • Aug 10, 2022 5:42pm Aug 10, 2022 5:42pm
I don't think that Gold has topped out yet.

I went long from 1791, stop loss under 1784, targets are 1800, 1810, 1824, and 1840.
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,108
  • Aug 10, 2022 6:00pm Aug 10, 2022 6:00pm
Quoting ForexGoose
I don't think that Gold has topped out yet. I went long from 1791, stop loss under 1784, targets are 1800, 1810, 1824, and 1840. {image}
Agreed, I have one sell limit at 1835. That’s why I closed one position with nice pips and set sell limit again.
Love for all; Hatred for none.
  • #3,109
  • Aug 10, 2022 9:09pm Aug 10, 2022 9:09pm
Another red data tomorrow will favour seller. Candle setup on H4 is very interesting.
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Love for all; Hatred for none.
  • #3,110
  • Aug 10, 2022 11:30pm Aug 10, 2022 11:30pm
I am adding long position @1786 with TP@1793 because bullish point of gravity was generated at 1793. Lets see what happen.
Love for all; Hatred for none.
  • #3,111
  • Aug 11, 2022 2:00am Aug 11, 2022 2:00am
Quoting ForexGoose
I don't think that Gold has topped out yet. I went long from 1791, stop loss under 1784, targets are 1800, 1810, 1824, and 1840. {image}
i784 appears to offer some support, if it breaks decisively, then bulls give up for how and there could be range trading for this month
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,112
  • Aug 11, 2022 4:56am Aug 11, 2022 4:56am
Quoting ForexGoose
{quote} i784 appears to offer some support, if it breaks decisively, then bulls give up for how and there could be range trading for this month
I believe the rally was largely due to bad US data. The rally cooled off almost immediately. Classic pump and dump. I believe we will be looking for a floor this month. I expect us to be near 1700 at the end of the month. The Three Inside Up on the daily has failed and suggests downwards pressure rather than a move up north. My strategy is to sell rallies.
  • #3,113
  • Aug 11, 2022 5:15am Aug 11, 2022 5:15am
Lets scalp
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  • #3,114
  • Edited 6:03am Aug 11, 2022 5:50am | Edited 6:03am
Does anyone could advise a raw spread broker with 300% leverage. I am scalping up to 5 pip but most of the time spread is 3 pips and I am losing the trade.
some of the brokers offer but want to open a pro account which a large amount to deposit. I am looking zero spread broker with at least 1:300 leverage
  • #3,115
  • Aug 11, 2022 6:22am Aug 11, 2022 6:22am
I will be looking for sell once price reached point of interest and if finds anything on SMT's.
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  • #3,116
  • Aug 11, 2022 6:36am Aug 11, 2022 6:36am
Quoting MrFinexis
{quote} I believe the rally was largely due to bad US data. The rally cooled off almost immediately. Classic pump and dump. I believe we will be looking for a floor this month. I expect us to be near 1700 at the end of the month. The Three Inside Up on the daily has failed and suggests downwards pressure rather than a move up north. My strategy is to sell rallies.
bad inflation data appears to be good for Gold

next important data is the PPI, which is the Change in the price of finished goods and services sold by producers

if this data is soft, then lower costs are being passed onto consumers, reducing inflation
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,117
  • Aug 11, 2022 6:57am Aug 11, 2022 6:57am
Quoting ForexGoose
{quote} bad inflation data appears to be good for Gold next important data is the PPI, which is the Change in the price of finished goods and services sold by producers if this data is soft, then lower costs are being passed onto consumers, reducing inflation

Yes I believe if the reading is soft, which is probably will be, after yesterday's soft readings, it should push Gold up, perhaps past 1806, to 1810 - 1824
"Who Dares Wins"
  • #3,118
  • Aug 11, 2022 7:31am Aug 11, 2022 7:31am
Quoting aahmad29
I am adding long position @1786 with TP@1793 because bullish point of gravity was generated at 1793. Lets see what happen.
Hit the TP@1793
Love for all; Hatred for none.
  • #3,119
  • Aug 11, 2022 7:48am Aug 11, 2022 7:48am
Quoting ForexGoose
I don't think that Gold has topped out yet. I went long from 1791, stop loss under 1784, targets are 1800, 1810, 1824, and 1840. {image}
Moved stop loss to 1784 and am waiting for a sustained rally above 1800 to add more long positions
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,120
  • Aug 11, 2022 8:13am Aug 11, 2022 8:13am
XAU daily. The pin bar near the trend line should continue to fall. Crossovers of MA200 and MA100 will strengthen the sell signal. The nearest strong resistance below is 1754.
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