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  • #7,701
  • May 11, 2023 3:17am May 11, 2023 3:17am
Quoting lucaswalliam
{quote} I can't find your spot. In the short term, gold is still maintaining its oscillation down, which is my thinking. {image}
2062 or more possible if 2021 or 2016 hold if not then 2001.I may be wrong.Trade safe
  • #7,702
  • May 11, 2023 3:39am May 11, 2023 3:39am
Quoting Jolita
{quote} Lol
Just follow the trend.
  • #7,703
  • May 11, 2023 3:41am May 11, 2023 3:41am
Quoting parveenverma
{quote}2062 or more possible if 2021 or 2016 hold if not then 2001.I may be wrong.Trade safe
It could be the result. But, the bigger cycle, gold seems to have started to fall.
Just follow the trend.
  • #7,704
  • May 11, 2023 3:54am May 11, 2023 3:54am
Quoting lucaswalliam
{quote} It could be the result. But, the bigger cycle, gold seems to have started to fall.
You are right but my charts says that 4H trend is up overall but it is going to turned sideways.As per my fibonacci analysis while price starts to maintain 76.4 or more retracements then market is going to turned sideways.So market can ping pong between 2001 and 2070 for a long time at least 3x plus times of previous Bullish upswing and that will complete on approx middle of next week.After that I can expect a start of fall.I may be wrong.Trade safe
  • #7,705
  • May 11, 2023 4:51am May 11, 2023 4:51am
Quoting jordiHK
I just opened a sell position at 2035.10. Expecting face down to test 2022 again. Simple chart. Just sell order at 2045-47, and buy order at 2022, until before US news. Today have news from BOE interest rates, and later US jobs claims + PPI. From my point of view PPI data will shake gold market, with large move, same as CPI yesterday. Now PPI forecast is 0.3 %. Over it gold will fly up again, testing previous levels. Under it, will fall sharply probably touching 2000 level again, even lower. Trade safe
Closed sell 2035,10 at 2025,69... But I did a fat finger mistake. I set the buy limit at 2020 instead of 2022... . So I didn't take...
Well now waiting for news. Let's see PPI.
Could reach north level again 2045-47 or go down until 2000. Will see. Trade safe
  • #7,706
  • Edited 7:01am May 11, 2023 4:58am | Edited 7:01am
USDIndex vs XAUUSD
Attached Image (click to enlarge)
Click to Enlarge Name: USD_.jpg Size: 125 KB


Gouvernment debt forgotten? Or indices go down hardly? So Gold has to wait.


XAUUSD /USDX M30
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_DXY.jpg Size: 286 KB



edit 13:59 MESZ
Attached Image (click to enlarge)
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  • #7,707
  • May 11, 2023 4:58am May 11, 2023 4:58am
Level 2022 now getting weaker after several tests. So easier to break, then lower 2014-15 not so strong, and lower 1999-2001 the strongest, with a psychologic importance.
North side 2035-37 no too strong, 2045-47 strong and then we go to a wide zone 2052-57, that I don't think could break today even with the PPI news.
  • #7,708
  • May 11, 2023 5:04am May 11, 2023 5:04am
Quoting Isabella_D
USDIndex vs XAUUSD {image} Gouvernment debt forgotten? Or indices go down hardly? So Gold has to wait.
No one believes that the US won't extend the debt ceiling. The backstop is that Biden unilaterally extends the ceiling. Congress then can veto his extension but only if they get a 2/3's majority vote.
  • #7,709
  • May 11, 2023 5:16am May 11, 2023 5:16am
Quoting dantpm
{quote} No one believes that the US won't extend the debt ceiling. The backstop is that Biden unilaterally extends the ceiling. Congress then can veto his extension but only if they get a 2/3's majority vote.
You always bring well-informed fundamentals with you. thanks for that dantpm
  • #7,710
  • May 11, 2023 5:23am May 11, 2023 5:23am
Bears liquidity has been grabbed on 4H TF and now they will attack to bulls liquidity that is sitting at 2049-53 area. If we watch the 4H TF 2021-22 area has hold strongly till now and now price reversed from the same zone. So I think market has made the today's low and now price is moving towards today's high side. I do not trade high impact news as per one of my strict rule of trading So I will sit aside from start of GBP news after 40 minutes to USD PPI and unemployment claims and watch the price action only.I love High Impact news but trade them after the result out .I may be wrong.Trade safe
  • #7,711
  • May 11, 2023 5:25am May 11, 2023 5:25am
Down on the PPI news...
  • #7,712
  • May 11, 2023 6:17am May 11, 2023 6:17am
XAUUSD next projections
2037,2070,2120

https://www.forexfactory.com/thread/...5#post14418105
is still in my mind
  • #7,713
  • May 11, 2023 6:33am May 11, 2023 6:33am
Hourly retracement zone 2038 arrived. Would bulls required some rest and may be retracement up to 2032 area before next attack or they will continue their attack?Lets See....Trade safe
  • #7,714
  • May 11, 2023 6:44am May 11, 2023 6:44am
Quoting Isabella_D
XAUUSD next projections 2037,2070,2120 https://www.forexfactory.com/thread/...5#post14418105 is still in my mind
Hi Isabella. Your projections are uptrend, breaking all history max. But your mind still projecting downtrend channel for 2023, taking reference from last high 2079.
Could you explain yourself ? Thanks
  • #7,715
  • May 11, 2023 7:18am May 11, 2023 7:18am
Quoting Jolita
{quote} Lol
This is exactly what I see with Gold
  • #7,716
  • May 11, 2023 7:20am May 11, 2023 7:20am
Quoting parveenverma
Hourly retracement zone 2038 arrived. Would bulls required some rest and may be retracement up to 2032 area before next attack or they will continue their attack?Lets See....Trade safe
Grab quick profit.Trade safe
  • #7,717
  • May 11, 2023 7:25am May 11, 2023 7:25am
hi dear
what you think about ppi??
  • #7,718
  • May 11, 2023 7:28am May 11, 2023 7:28am
Quoting jordiHK
{quote} Hi Isabella. Your projections are uptrend, breaking all history max. But your mind still projecting downtrend channel for 2023, taking reference from last high 2079. Could you explain yourself ? Thanks
Yes I can.
- Both analyzes (long-term and short-term) are assumptions.
- The economy behaves like a trampoline. If you jump on one side, the net rises/falls on the other side.
- The spatial extent (price) and time can shift significantly, so that today you think: oh that was a lot (especially intraday), later you notice that it looks more like an optical illusion. (Beginners quickly think in the M5 chart, the world is ending, on H4 the matter is very relative, with more than half a year completely.)
- And yes, I will revise this semi-annual analysis umpteen times and finally throw it out the window or brag that I was right.
You will find your own way or have another way to find out from this chaos?
all the best
  • #7,719
  • May 11, 2023 7:37am May 11, 2023 7:37am
Quoting parveenverma
{quote} Grab quick profit.Trade safe
Ok ....News over, retracement complete and spread balanced now.Ok Bulls..Go ahead .Trade safe
  • #7,720
  • May 11, 2023 7:50am May 11, 2023 7:50am
Inflation is still a problem but unemployment is something to worry about.
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Elnino7