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  • #4,801
  • Jan 11, 2023 1:10pm Jan 11, 2023 1:10pm
Gold Update:Gold is entering a monthly supply/resistance area between 1880 - 1920. I would look for short term pull backs as price moves up in to these areas. Posted yesterday.

Gold has now retraced 2000 pips from 1885 down to the 1865 area with price action confirmation on the hour, 15, 5, 3 min charts. Great place to book profits for swing position, trend traders.

Great place to place sell orders trades for swing, intra-day traders during the London Session.
Attachment g
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  • #4,802
  • Jan 11, 2023 3:33pm Jan 11, 2023 3:33pm
Quoting tradernik23
What is WPPs?
Pivot Points, Weekly
dolce vita
  • #4,803
  • Edited 4:27pm Jan 11, 2023 3:44pm | Edited 4:27pm
Quoting sboy.s63
{quote} Do you agree to sell in gold?
I think it still buy.., but we can sell even on the way up, don't we (?)


Quoting Ravenfeeder
{quote} You are implying that the bullish pressure is decreasing, or that any bearish pressure has been relieved?
sorry, but as I see gold is going up..,
I do not predict..,

P.S. my post about missing WPP (18.12.2022) from "above area"
https://www.forexfactory.com/thread/...2#post14259742
dolce vita
  • #4,804
  • Jan 11, 2023 4:55pm Jan 11, 2023 4:55pm
once more about missing pivot.., weekly(black) & monthly(purple).., classic ones
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charting with fxstreet
dolce vita
  • #4,805
  • Jan 11, 2023 9:27pm Jan 11, 2023 9:27pm
Gold price now turns to CPI data as XAU/USD flirts with Wedge but Markets likely readied up for the highly anticipated US CPI report
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  • #4,806
  • Jan 11, 2023 9:45pm Jan 11, 2023 9:45pm
A confirmed bearish closure might pave the way for the main downturn from March to the end of October to resume. The 50-day Simple Moving Average would then be the primary consideration (SMA)
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  • #4,807
  • Jan 12, 2023 1:19am Jan 12, 2023 1:19am
Live Update. Double Top pattern, Asia session is giving an hourly sell signal at the 1885 order block, price may fall 500 to 1000 pips. Use great money management and follow the trade plan.

Set your stops just outside of the 1885 order zone more or less depending on your trading style and risk management.
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  • #4,808
  • Jan 12, 2023 2:05am Jan 12, 2023 2:05am
I think gold will go down with today's data, what do you think?
  • #4,809
  • Jan 12, 2023 2:59am Jan 12, 2023 2:59am
Quoting sboy.s63
I think gold will go down with today's data, what do you think?
Hard to say, it might slightly and then shoot up, unless the CPI is really hot, which the whole market doubts, but we will see.

Thank you for the clarity and your awesome insight, BabaYaga!
"Who Dares Wins"
  • #4,810
  • Jan 12, 2023 4:48am Jan 12, 2023 4:48am
on h1 and h4 timeframes i see for now bullish trend. but most of all there will be great falling and starts of bearish movement. this will happen if gold falls below level of 1865.1. let's see.
  • #4,811
  • Jan 12, 2023 6:37am Jan 12, 2023 6:37am
Quoting Nicco31
on h1 and h4 timeframes i see for now bullish trend. but most of all there will be great falling and starts of bearish movement. this will happen if gold falls below level of 1865.1. let's see.
Good call! I see a long wick formed recently, pointing to a significant resistance zone, so we could be going down from here IF the CPI comes in hot or stronger than expected, especially the MoM data
"Who Dares Wins"
  • #4,812
  • Jan 12, 2023 6:55am Jan 12, 2023 6:55am
I think want to sell again today
wise man say, only fools rush in
  • #4,813
  • Jan 12, 2023 7:24am Jan 12, 2023 7:24am
My calculations tell me that price will hit 1900 and then it needs to go back to 1825 on weekly time frame but I am not sure because this is about long term trade. It might be early to say that.
Love for all; Hatred for none.
  • #4,814
  • Jan 12, 2023 7:27am Jan 12, 2023 7:27am
Quoting aahmad29
My calculations tell me that price will hit 1900 and then it needs to go back to 1825 on weekly time frame but I am not sure because this is about long term trade. It might be early to say that.
Yes maybe also, thanks aahmad29
wise man say, only fools rush in
  • #4,815
  • Jan 12, 2023 7:35am Jan 12, 2023 7:35am
waiting to see what the market does with the price in another hour after the CPI report
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #4,816
  • Jan 12, 2023 8:03am Jan 12, 2023 8:03am
Quoting ForexGoose
waiting to see what the market does with the price in another hour after the CPI report
Thanks, good idea, I am hoping with Aahmad that it will eventually start trickling down below 1900 again, being overstretched, overbought, and data reflecting mixed, but mostly negative for Gold
"Who Dares Wins"
  • #4,817
  • Jan 12, 2023 8:11am Jan 12, 2023 8:11am
Quoting ForexGoose
{quote} i put in a buy stop order at 1890 for now there should be more upside above that level after a soft Core CPI m/m number on Thursday
adjusted stop loss to break-even for this trade, I will add more long positions if the price stays above 1890 today
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #4,818
  • Jan 12, 2023 8:23am Jan 12, 2023 8:23am
Quoting aahmad29
My calculations tell me that price will hit 1900 and then it needs to go back to 1825 on weekly time frame but I am not sure because this is about long term trade. It might be early to say that.
Three long position hit TP with double lot
1862-1873 (closed on Tuesday)
1878-1898
1880-1898
Love for all; Hatred for none.
  • #4,819
  • Jan 12, 2023 8:27am Jan 12, 2023 8:27am
Quoting ForexGoose
waiting to see what the market does with the price in another hour after the CPI report
What do you think that soft CPI with good data on unemployment claims can force the price to stay in 1880 area?
Love for all; Hatred for none.
  • #4,820
  • Jan 12, 2023 9:03am Jan 12, 2023 9:03am
Quoting aahmad29
{quote} What do you think that soft CPI with good data on unemployment claims can force the price to stay in 1880 area?
I think that Gold could rally in the near-term since the stock market is not selling

Biden is also scheduled to speak today

https://www.washingtonpost.com/polit...licans-santos/

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