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  • #3,121
  • Aug 11, 2022 8:51am Aug 11, 2022 8:51am
Quoting keyman.
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. {image}
the dollar continues to be sold after the inflation data, causing Gold to appreciate
Attached Image (click to enlarge)
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,122
  • Aug 11, 2022 9:09am Aug 11, 2022 9:09am
Quoting ForexGoose
{quote} the dollar continues to be sold after the inflation data, causing Gold to appreciate {image}
new market cycle has started
IgorFX
  • #3,123
  • Aug 11, 2022 10:42am Aug 11, 2022 10:42am
Quoting aahmad29
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. {image}
Another position hit TP
1795-1789

I set same limit order again.
Love for all; Hatred for none.
  • #3,124
  • Aug 11, 2022 10:47am Aug 11, 2022 10:47am
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.
I am looking for a new low to be made today, what do you guys think?
  • #3,125
  • Aug 11, 2022 10:57am Aug 11, 2022 10:57am
Quoting MrFinexis
{quote} I am looking for a new low to be made today, what do you guys think?
the market can continue to range near 1800

next week, USD might appreciate after the FOMC minutes
Attached Image (click to enlarge)
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,126
  • Aug 11, 2022 11:28am Aug 11, 2022 11:28am
Quoting aahmad29
I do not use weekly point of gravity in my day trading but I keep it for reference. My weekly bullish point of gravity is 1835. Let’s see when this is achieved. My H1 bearish point of gravity is 1723. I have to work more on my patience to improve trading outcome. Out of my 10 long or short positions , I will close 7 of them with at least 500 points on XAUUSD. In total my each cycle must have at least 3500 points. This is my new resolution. So now short positions cycle has started for me so...
I have to track my resolution. So here is progress so far and 4 more to go.
1. Sell 1799 - 1790
2. Sell 1795 - 1789
3. Buy 1786 - 1793
Attached Image (click to enlarge)
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Love for all; Hatred for none.
  • #3,127
  • Aug 11, 2022 11:30am Aug 11, 2022 11:30am
Quoting ForexGoose
{quote} the market can continue to range near 1800 next week, USD might appreciate after the FOMC minutes {image}
Yes agreed but in long term Gold is bullish.
Love for all; Hatred for none.
  • #3,128
  • Aug 11, 2022 1:44pm Aug 11, 2022 1:44pm
Quoting aahmad29
{quote} Yes agreed but in long term Gold is bullish.
Whether it is bullish, that would depend on interest rates and geopolitical risks such as wars. Right now, it could be more bullish this month, but in September, the FED can say that they are more hawkish with the rate hikes.

Quoting ForexGoose
{quote} Moved stop loss to 1784 and am waiting for a sustained rally above 1800 to add more long positions
might be stopped out soon by the bear

i don't like this choppy price action
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2022-08-11_15-58-16.png Size: 39 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,129
  • Aug 11, 2022 3:48pm Aug 11, 2022 3:48pm
That is it
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  • #3,130
  • Aug 11, 2022 11:09pm Aug 11, 2022 11:09pm
Quoting Bodduh
That is it {image}
As it stands, for now. See you next Wednesday ; )

Attached Image (click to enlarge)
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"Don't Shoot Me I'm Only the Piano Player"
  • #3,131
  • Aug 12, 2022 6:36am Aug 12, 2022 6:36am
Quoting ForexGoose
{quote} Whether it is bullish, that would depend on interest rates and geopolitical risks such as wars. Right now, it could be more bullish this month, but in September, the FED can say that they are more hawkish with the rate hikes. {quote} might be stopped out soon by the bear i don't like this choppy price action {image}
1784 is still strong support today and bears need to break it soon
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,132
  • Aug 12, 2022 7:38am Aug 12, 2022 7:38am
Quoting ForexGoose
{quote} 1784 is still strong support today and bears need to break it soon
Gut feeling it will break too many attempts…
Extreme gut feeling trader
  • #3,133
  • Aug 12, 2022 7:46am Aug 12, 2022 7:46am
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}
exited at break even since the price is not going anywhere, I will re-enter next week after the FOMC minutes once this consolidation phase between 1800 and 1784 ends
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,134
  • Aug 12, 2022 7:49am Aug 12, 2022 7:49am
Quoting ForexGoose
{quote} exited at break even since the price is not going anywhere, I will re-enter once this consolidation phase between 1800 and 1784 ends

It has been playing games with me all day too... I have a feeling the Michigan Consumer Sentiment will help it get some direction, as I have noticed XAUUSD tends to be quite sensitive towards it, and being the end of the week, and the final import bit of news for USD for the remainder of the day, it is befitting.
"Who Dares Wins"
  • #3,135
  • Aug 12, 2022 10:08am Aug 12, 2022 10:08am
I am holding all my short positions.May be it takes time to come to my bearish point of gravity but it will come.
Love for all; Hatred for none.
  • #3,136
  • Aug 12, 2022 11:51am Aug 12, 2022 11:51am
gold make some good bullish movement, even if we see yesterday's chart. it is still bull.
  • #3,137
  • Aug 12, 2022 11:03pm Aug 12, 2022 11:03pm
Here are harmonic pattern H1,H4 and D1.

Apparently Square box in H4 ranging from 1821-1840 will be bullish target.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: XAUUSD1.png Size: 28 KB
Click to Enlarge Name: XAUUSD2.png Size: 18 KB
Love for all; Hatred for none.
  • #3,138
  • Aug 13, 2022 8:03am Aug 13, 2022 8:03am
Quoting aahmad29
Here are harmonic pattern H1,H4 and D1. Apparently Square box in H4 ranging from 1821-1840 will be bullish target. {image} {image} {image}
I don’t believe in harmonics. I just study the fundamentals and predict that Gold will be bullish this month if the FED stays quiet about being more hawkish.

If the price stays above 1784, then it is probably safe to buy with a stop loss under that level.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #3,139
  • Aug 13, 2022 8:20am Aug 13, 2022 8:20am
Hello, I know this thread is about Gold, but I don't see any other active thread and my question has strong co-relation with Gold so I thought I would ask my question here.

What do you guys think about XAG/USD? It had a huge surge upwards on closing on Friday. I have sells at 20.418 and the price now is at 20.814. Do you think it will continue to press upwards or a revisit to 20.300 is plausible?

Thank you.
  • #3,140
  • Aug 13, 2022 9:04am Aug 13, 2022 9:04am
I believe the 1802 level would reverse the market.
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