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  • #28,021
  • Mar 8, 2024 3:49am Mar 8, 2024 3:49am
2185 on the way.
  • #28,022
  • Mar 8, 2024 3:51am Mar 8, 2024 3:51am
I'm sure the world will come there senses soon and realize that the true value lies in the dollar. After they add another $1 trillion in debt by June.
  • #28,023
  • Mar 8, 2024 3:52am Mar 8, 2024 3:52am
https://www.forexfactory.com/thread/...0#post14786670
Nobody demands anything from you.
The thread is flickering a bit because people are always very nervous before NFP and the opinion you put forward was very strongly asserted.
I agree with you that it is helpful to shed light on “misjudgments” more often. Or better show: expected-reality.
If you just look at the trade explorers of many above-average traders, it becomes clear that there are often painful ups and downs. That's how trading is.
  • #28,024
  • Mar 8, 2024 4:07am Mar 8, 2024 4:07am
On a serious note, we know this can't continue forever and we have just started a new 12 hours candle after 12 consecutive bullish ones. Unless the US has entered Weimar Republic levels of inflation and currency collapse, this will have to relent at some point.
  • #28,025
  • Mar 8, 2024 4:09am Mar 8, 2024 4:09am
GOLD probably won't turn till it hit 2200

Today's Support & Resistance on MT5 Template

EURO
CABLE
GOLD

https://www.forexfactory.com/thread/...5#post14786755
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FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #28,026
  • Mar 8, 2024 4:15am Mar 8, 2024 4:15am
Quoting Whale
2185 on the way.

I think the numbers which i assume is 2191.59.

Maybe then it might push there tonight. Before deciding a move. I still havent enter yet since last thursday till now
Trading is very lonely
  • #28,027
  • Mar 8, 2024 4:24am Mar 8, 2024 4:24am
Quoting luckytujuh
{quote} I think the numbers which i assume is 2191.59. Maybe then it might push there tonight. Before deciding a move. I still havent enter yet since last thursday till now
I appreciate this. At times after your comment, it has stopped me from making highly risky trades. I've entered here and there but nothing long term. Always had this reminder at the back of my head lol
  • #28,028
  • Mar 8, 2024 4:26am Mar 8, 2024 4:26am
Quoting luckytujuh
{quote} I think the numbers which i assume is 2191.59. Maybe then it might push there tonight. Before deciding a move. I still havent enter yet since last thursday till now
Smart move. Today feels like its just one continual bear trap. Quick spike up followed by a similar move down looking like a stop hunt or exhaustion. Then a gradual creep up followed by another spike.
  • #28,029
  • Mar 8, 2024 4:38am Mar 8, 2024 4:38am
Sell now and sell at 2182. No need to stop lose. Gold will NOT rise above 2183 This summer. Take your profit at 2025, 2007 and 1986
  • #28,030
  • Mar 8, 2024 4:44am Mar 8, 2024 4:44am
Gold mining is a difficult process as I understand. A lot of things suggest high prices on the long run.
  • #28,031
  • Mar 8, 2024 4:48am Mar 8, 2024 4:48am
No technical neither fundamental reason behind the Gold up move, it’s only the big fingers blowing up the small accounts
  • #28,032
  • Mar 8, 2024 4:57am Mar 8, 2024 4:57am
Bloomberg Suggested it could be central banks buying, which would make sense as it has been climbing continuously with seemingly no selling pressure.

If it was just banks and funds buying it would be more choppy, and there would be much more of a battle between bulls and bears, just seems to be a slow grind up for the past week

Question is, at what point is price too high for them to continue buying, or at what point have they bought enough for buying to stop
  • #28,033
  • Edited 5:32am Mar 8, 2024 5:19am | Edited 5:32am
Pumps (or dumps) before NFP or any big news isn't the first time this happens, the way price killed 2060 was enough for me to gtfo at whatever loss to fight another day.
  • #28,034
  • Mar 8, 2024 5:31am Mar 8, 2024 5:31am
It's almost like FOMO is driving the market
  • #28,035
  • Mar 8, 2024 5:34am Mar 8, 2024 5:34am
The biggest problem her is no one could predict the next Gold move, regardless of the NFP numbers red or green, its very possible the NFP numbers will come in favor the gold logically much move down but what happens it goes the opposite way
  • #28,036
  • Mar 8, 2024 5:37am Mar 8, 2024 5:37am
The fact gold has moved this much before NFP is quite telling that investors are expecting a weak labor number
  • #28,037
  • Mar 8, 2024 5:42am Mar 8, 2024 5:42am
Quoting LitEU
The fact gold has moved this much before NFP is quite telling that investors are expecting a weak labor number
So what do you think? A weak NFP should take the Gold price up or down?
  • #28,038
  • Mar 8, 2024 5:46am Mar 8, 2024 5:46am
Quoting H.z
{quote} So what do you think? A weak NFP should take the Gold price up or down?
Theoretically weak jobs should move it up, as this would mean rate cuts are nearer.

However that may not be the case, rate cuts would see stocks rise, which could move people out of gold and into stocks, so there really is no telling
  • #28,039
  • Mar 8, 2024 5:49am Mar 8, 2024 5:49am
Quoting H.z
{quote} So what do you think? A weak NFP should take the Gold price up or down?
DOWN… then UP
  • #28,040
  • Mar 8, 2024 5:54am Mar 8, 2024 5:54am
Quoting Geevs
{quote} Theoretically weak jobs should move it up, as this would mean rate cuts are nearer. However that may not be the case, rate cuts would see stocks rise, which could move people out of gold and into stocks, so there really is no telling
This is exactly what I’m talking about no one can predict
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