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  • #12,681
  • Jul 18, 2023 8:50am Jul 18, 2023 8:50am
I'm done for the day...Hopefull it'll pull back by tomorrow morning but I think it's too risky to enter anymore today.

I've made back a lot that I've lost these last few days. One big reason is that I didn't over trade, only made 2 entries today which is very few for me. Going to jump back into Python and see if I can glean any more insights.

I'll post up anything I find.
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  • #12,682
  • Jul 18, 2023 8:51am Jul 18, 2023 8:51am
Why is DXY going up and Gold is going up? Very confusing data!
  • #12,683
  • Jul 18, 2023 8:55am Jul 18, 2023 8:55am
______________ with a Real Genuine BOF you Keep on Rakin $$$$$$$ 4sure ! - - - it aint Cheap
Don’t focus on making $$$, focus on protecting what you have.
  • #12,684
  • Jul 18, 2023 8:55am Jul 18, 2023 8:55am
Quoting JackR
Why is DXY going up and Gold is going up? Very confusing data!
Because other currencies are falling relative to the dollar, but the dollar is falling relative to gold. I haven't looked but if you looked at XAUEUR or XAUGBP, I would imagine, XAU is going up even stronger against them.

EDIT: Just check XAUGBP and yes, XAU is going up strong than XAUGBP, at least today it seems to be.
  • #12,685
  • Edited 9:09am Jul 18, 2023 8:58am | Edited 9:09am
Quoting JackR
Why is DXY going up and Gold is going up? Very confusing data!
Look at what the "trends" were before the news and after. Most news is only used to move markets in the direction they were already going.

And you need to take into consideration that DXY is nothing but EURUSD inversed.
Mark ... Everything you have been told is a LIE
  • #12,686
  • Jul 18, 2023 8:58am Jul 18, 2023 8:58am
Quoting JackR
Why is DXY going up and Gold is going up? Very confusing data!
The prices of gold and the dollar may often appear to oppose each other due to investor sentiments and economic factors, but there is no set or official relationship between the two.
Success is not final, failure is not fatal... - Winston Churchill
  • #12,687
  • Jul 18, 2023 8:58am Jul 18, 2023 8:58am
Quoting Zebi
{quote} thing about technical analysis and trading they are mutually exclusive...lot more analysts writing books and making videos for a living than trading LOL one can be right about direction but still lose money if not timing entries correctly or losing ones head in panic i analyse and trade and post them when i can or want to so all my warts are on display LOL....be sckeptical of people that give ambiquous analysis without backing it up with somekind of trade behind it and not after the fact
i dont understand last few days on gold to be honest. tops and bots are my entries also watching 1-5min candles, but as i mention, it makes no sense atleast for me now, yes cpi push it higher, then news mixed outcome, than another news bearish and in few hours back in bullish direction.

more news i read about economy more it doesnt make any sense. last few days was like dxy going up gold also dxy going down gold also etc. like right now 40pips down next 5m candle goes back. so i dont know what are they trying to do if they want to push it higher or create another consolidation for 3 days, but i will rather back off and trade when volume will lower.

about analysis, exactly, these self made called gurus just selling wet dream of buy on supp sell on res 1% Risk 1:3rr and in about two years you can drive lambo with me lol
  • #12,688
  • Jul 18, 2023 8:58am Jul 18, 2023 8:58am
Quoting MisterMurong
{quote} Too early. My advice to those who want to sell is to use yen pairs as reference. Any yen pair. Let's take AUD/JPY, current price is 93.95. Gold 1968. Once AUD/JPY is 30-40 pips green, Gold will start falling.
As predicted, no shorting until AUD/JPY is at least 94.3X. CMP of Gold is 1974. PA still on bulls pedal though. Sellers, be patient.
  • #12,689
  • Jul 18, 2023 9:00am Jul 18, 2023 9:00am
Quoting MrFanciful
I'm done for the day...Hopefull it'll pull back by tomorrow morning but I think it's too risky to enter anymore today. I've made back a lot that I've lost these last few days. One big reason is that I didn't over trade, only made 2 entries today which is very few for me. Going to jump back into Python and see if I can glean any more insights. I'll post up anything I find. {image}
Legend man! Glad you made it all back and feel better now rest well! Tomorrow is another day
"Who Dares Wins"
  • #12,690
  • Jul 18, 2023 9:01am Jul 18, 2023 9:01am
if during next 30 min gold won't come under DeMark's DR1, 1964.19
nothing to do with sell...
dolce vita
  • #12,691
  • Jul 18, 2023 9:02am Jul 18, 2023 9:02am
Quoting MisterMurong
{quote} Would be amazing if Gold runs up 1% again lol. This happened on a day of major US data too....let's see. {image} DXY under 100 should be a cause for concern for bulls.
Ding ding ding!!!!

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  • #12,692
  • Jul 18, 2023 9:08am Jul 18, 2023 9:08am
Quoting montygoldy
I have a gut feeling maybe we go below 1950 after the red news… dxy needs a decent retracement on longer timeframe……
Montygoldy...please, listen...stop self-destructing...

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You deposited again just to short..you got took out for 12 grand and you still continued...wait...sells will come but you need to be patient..
  • #12,693
  • Jul 18, 2023 9:09am Jul 18, 2023 9:09am
Well this up move has taken me totally by surprise
  • #12,694
  • Jul 18, 2023 9:10am Jul 18, 2023 9:10am
Quoting Pipsolengelo
I have waited enough. i am selling now.
Hit my SL. Now i wait again. Lets see how much price goes up.
  • #12,695
  • Jul 18, 2023 9:10am Jul 18, 2023 9:10am
Quoting MrFanciful
Well this up move has taken me totally by surprise
Based on PA, bulls want 1982.
  • #12,696
  • Jul 18, 2023 9:10am Jul 18, 2023 9:10am
now im starting to hurt
wont add till price starts dropping
short trump and go long the deepstate
  • #12,697
  • Jul 18, 2023 9:11am Jul 18, 2023 9:11am
pls 1982
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  • #12,698
  • Jul 18, 2023 9:12am Jul 18, 2023 9:12am
Can someone explain this price action. I’ve been trying to place a short for a couple hours now and it just keeps moving higher, looking on all time frames non it is making any sense.
Some insight would be great
  • #12,699
  • Jul 18, 2023 9:13am Jul 18, 2023 9:13am
Ultimately, fiat currencies are in decline and have been since their inception. Both the USD and GBP have lost about 50% of their value/purchasing power since about 1992 when I was in my first year of secondary school.

If you want to play a fun game, tell your friends that the value of their house has not gone up, someone simply needs more currency unit to purchase it than they did because the currency is worth considerably less now.
  • #12,700
  • Jul 18, 2023 9:13am Jul 18, 2023 9:13am
i closed at 1978
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