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  • #9,141
  • Jun 2, 2023 10:14pm Jun 2, 2023 10:14pm
What a shame, closed my sell on 1972 and converted them to a buy order --> obtained huge loss till now

So, a rebound on the upcoming week? as there are no significant news in the upcoming week

Cheers y all
  • #9,142
  • Jun 3, 2023 4:01am Jun 3, 2023 4:01am
Quoting LitEU
XAUUSD Longs will look good on my chart once the market opens {image}
There is a further retracement to come when markets open think good buy is near the 37-35 level....my 2 cents.
average dude treading water
  • #9,143
  • Jun 3, 2023 5:10am Jun 3, 2023 5:10am
Quoting MIKKI
{quote} There is a further retracement to come when markets open think good buy is near the 37-35 level....my 2 cents.
I agree with this, same thing deaftrader said a couple of days ago, to test that 100-DMA and bottom trend line, around 1933.

I don't know why peeps are bullish on Friday night when the Gold ended low without any rejection, and the DXY ended just above 104... I wouldn't buy now until the bottom has been established, which can easily be below 1900 at the rate of Bearishness.
"Who Dares Wins"
  • #9,144
  • Jun 3, 2023 5:59am Jun 3, 2023 5:59am
DXY and gold is negative correlated but the calculation DXY ( Assorted weighted average ) is less correlated than the equally waited average method ..A simple method helps to identify the potential reversal of the trend..
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  • #9,145
  • Jun 3, 2023 11:25am Jun 3, 2023 11:25am
Gold is bearish in daily and weekly time frames.

Daily : SMA 20 crossed downward SMA 50 (already flat) a few days back
Failure to break upward 1980 resistance (previous daily support)
Support 1955/60 broken

Weekly : Parabolic SAR turned red yesterday
Double top

Monthly : triple top

Next short term TP : 1930 / 1900
  • #9,146
  • Edited 6:36pm Jun 3, 2023 5:45pm | Edited 6:36pm
According to Justin Bennet's analysis: XAUUSD has been an incredibly sideways market since March. That’s been especially true over the last two weeks. However, XAUUSD is respecting the levels I mentioned last week.
You can see how $1,957 served as a pivot recently, and gold bears have defended $1,982, both levels I mentioned last week. On the other hand, Friday’s candle looks more ominous than anything we’ve seen recently.
It’s unclear if this was due to a lack of volume on Friday or if gold bears intend to push the market below the November trend line.
A sustained break below that trend line would open up lower levels like $1,920, $1,886, and $1,855. But remember that the $1,940 trend line is support for now.

Edited after reconsidering my part mistake: I agree with his weekly analysis and did my own chart.
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We only trade when there is AGREEMENT. Get 1% Better Each Day!
  • #9,147
  • Jun 3, 2023 6:04pm Jun 3, 2023 6:04pm
Quoting deaftrader
XAUUSD has been an incredibly sideways market since March. That’s been especially true over the last two weeks. However, XAUUSD is respecting the levels I mentioned last week. You can see how $1,957 served as a pivot recently, and gold bears have defended $1,982, both levels I mentioned last week. On the other hand, Friday’s candle looks more ominous than anything we’ve seen recently. It’s unclear if this was due to a lack of volume on Friday or if gold bears intend to push the market below the November trend line. A sustained break below that trend...
That's awesome analysis, very professional.
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It takes a lot for me to IGNORE you, but you can try.
  • #9,148
  • Jun 3, 2023 6:19pm Jun 3, 2023 6:19pm
Quoting Erebus
{quote} That's awesome analysis, very professional. {image}{image}
I have seen Justin's works and did my chart analysis to see if it goes agreement or disagreement with his analysis. I share the same viewpoint for next week. Btw, I just saw the topic: "Justin Bennet is a SCAMMER..." https://www.forexfactory.com/thread/...2#post14448452
We only trade when there is AGREEMENT. Get 1% Better Each Day!
  • #9,149
  • Jun 3, 2023 6:30pm Jun 3, 2023 6:30pm
Quoting deaftrader
{quote} I have seen Justin's works and did my chart analysis to see if it goes agreement or disagreement with his analysis. I share the same viewpoint for next week. Btw, I just saw the topic: "Justin Bennet is a SCAMMER..." https://www.forexfactory.com/thread/...2#post14448452
What does copyright mean?

You saw it? Great, but you copy & paste it as if it were your own thinking without any credit to Justin Bennett - that's the issue.

I don't believe he is a scammer; someone says that doesn't make it true, but you have trouble with that.

Have a nice day.
It takes a lot for me to IGNORE you, but you can try.
  • #9,150
  • Jun 3, 2023 6:36pm Jun 3, 2023 6:36pm
Quoting Erebus
{quote} What does copyright mean? You saw it? Great, but you copy & paste it as if it were your own thinking without any credit to Justin Bennett - that's the issue. I don't believe he is a scammer; someone says that doesn't make it true, but you have trouble with that. Have a nice day.
Thank you for highlighting me on the copyright. I respect it.
We only trade when there is AGREEMENT. Get 1% Better Each Day!
  • #9,151
  • Jun 3, 2023 7:34pm Jun 3, 2023 7:34pm
Quoting deaftrader
{quote} Thank you for highlighting me on the copyright. I respect it.

next time just paraphrase so people wont know youre a plagiarist

worked for me in college LOL
short trump and go long the deepstate
  • #9,152
  • Jun 3, 2023 7:39pm Jun 3, 2023 7:39pm
Quoting Zebi
{quote} next time just paraphrase so people wont know youre a plagiarist worked for me in college LOL
Thank you for sharing your tip. Still, I have to give credits to people's original ideas in mutual respect.
We only trade when there is AGREEMENT. Get 1% Better Each Day!
  • #9,153
  • Edited 8:03pm Jun 3, 2023 7:44pm | Edited 8:03pm
Quoting Ravenfeeder
{quote} I agree with this, same thing deaftrader said a couple of days ago, to test that 100-DMA and bottom trend line, around 1933. I don't know why peeps are bullish on Friday night when the Gold ended low without any rejection, and the DXY ended just above 104... I wouldn't buy now until the bottom has been established, which can easily be below 1900 at the rate of Bearishness.

im not boolish gold unless a comet hits earth..my longs friday just a countertrend "scalp" of the 15 min. chart back to 1965..weekly I have a target at the blue line which on the daily is in this chart so when price hits my blue line on the weekly will make a spike low since daily will go fishing for stops and do a reflexive dead cat bounce and recover back above the weekly blue line like nothing happened ...while everyone will be screaming lower prices cause price breached the low on daily cause people never get their noses out of a 5 min. chart
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short trump and go long the deepstate
  • #9,154
  • Jun 3, 2023 7:51pm Jun 3, 2023 7:51pm
Quoting Zebi
longterm resistence on the quarterly...probably take a comet hitting earth cause a deadly virus and the mother of all inflations couldnt get gold to breakout from congestion LOL....ill leave the yearly chart for youall to look up {image}

deaftrader....ive used the comet hitting earth joke since march so if you want to use it somewhere just say a guy from forexfactory has it copyriighted
short trump and go long the deepstate
  • #9,155
  • Jun 3, 2023 8:11pm Jun 3, 2023 8:11pm
Quoting Zebi
{quote} im not boolish gold unless a comet hits earth..my longs friday just a countertrend "scalp" of the 15 min. chart back to 1965..weekly I have a target at the blue line which on the daily is in this chart so when price hits my blue line on the weekly will make a spike low since daily will go fishing for stops and do a reflexive dead cat bounce and recover back above the weekly blue line like nothing happened ...while everyone will be screaming lower prices cause price breached the low on daily cause people never get their noses out of...
as you can plainly see on the weekly its making a early head and shoulders pattern with a bounce up which will just be more ranging when it drops after the rt. shoulder gets printed which can take the rest of the year and into next
short trump and go long the deepstate
  • #9,156
  • Jun 4, 2023 4:54am Jun 4, 2023 4:54am
Quoting Zebi
{quote} as you can plainly see on the weekly its making a early head and shoulders pattern with a bounce up which will just be more ranging when it drops after the rt. shoulder gets printed which can take the rest of the year and into next
I agree, it looks very bearish, especially with that nice gap around 1850-1835, wanting to be filled, but let's be careful around the trendline 1940-1935, just in case the world decides that gold rules, seeing as central banks buying won't allow it to drop too dramatically at once, we just have to consider also the seasonal weakness of Gold, until July just before the Indian wedding season kicks off and they' be looking for value, and also depends on what the outcome of the FOMC meeting will be. It could drop and range a bit before the announcement, and maybe if they pause the rate hike, people will jump onto gold.
"Who Dares Wins"
  • #9,157
  • Jun 4, 2023 5:29am Jun 4, 2023 5:29am
will jump onto gold or sell the news ?
  • #9,158
  • Jun 4, 2023 8:51am Jun 4, 2023 8:51am
to each his own.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #9,159
  • Jun 4, 2023 2:02pm Jun 4, 2023 2:02pm
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  • #9,160
  • Jun 4, 2023 2:05pm Jun 4, 2023 2:05pm
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