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  • #37,021
  • Aug 2, 2024 10:31am Aug 2, 2024 10:31am
Quoting Catempire
{quote} you can never count on ANYTHING in this game… however, in unusual times & conflicting psychology, strange moves happen.
Of course not, but xauusd is quite technical, more than other instruments. 2290 is there for an (unknown) reason and has been refused 5(!) times between April and June. Breaking that level would open it up to 2K. We had this same predictions last week and the week before and look what the price did. Honestly, to me it doesn't matter whether it goes up or down, I have a strict trend following system and the more it moves, the better. Monday range days is what's usually killing me. I'm actually glad I switched to gold as the only instrument with real volatility and not just endless zigzags.
  • #37,022
  • Aug 2, 2024 10:33am Aug 2, 2024 10:33am
Potentially extreme target for the price of Gold is the somewhere below 2250$ - 2200$ and for the price of Silver around 24.5$. This is the extreme case and very unlikely given the current circumstances.
  • #37,023
  • Aug 2, 2024 10:34am Aug 2, 2024 10:34am
The Retracement Is till the Marked area
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Formal Education Makes you a Living, But Self Education Makes you a Fortune
  • #37,024
  • Aug 2, 2024 10:38am Aug 2, 2024 10:38am
Quoting mades
{quote} Of course not, but xauusd is quite technical, more than other instruments. 2290 is there for an (unknown) reason and has been refused 5(!) times between April and June. Breaking that level would open it up to 2K. We had this same predictions last week and the week before and look what the price did. Honestly, to me it doesn't matter whether it goes up or down, i have a strict trend following system and more it moves, the better. Monday range days is what's usually killing me.
it’s manipulated first & technical second.

it will go lower before being bought up hard, based on the psychology of the market & how the powers that be rinse it & it most often happens when everything is pointing to the opposite.

Personally, I think we have a lot of media scaremongering & hysteria coming… before reality sets in, everything always drops. It’s not as simple as “golds a safe haven” in the short term because the majority of the market don’t know how bad things will get. Might be a small correction or could be the mother of all drops hitting 1800 (ish).

remember, everyone is in this to make money, if you could manipulate the market.. what would you do ? Sell into everyone buying ?

(and then pick up the pieces at the bottom) ?

my take anyways, it’s a different one.
Que Sera
  • #37,025
  • Aug 2, 2024 10:39am Aug 2, 2024 10:39am
Quoting hathor
Have short signals on different timeframes, waiting for the following levels: ~ 2356.XX ~ 2285.XX ~ 2165.XX Time will tell. {image}
2285.XX on the way
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f(z)=z2+c
  • #37,026
  • Aug 2, 2024 10:42am Aug 2, 2024 10:42am
Quoting mades
It's just profit taking, like last time. Gold goes down always on double speed but that doesn't mean its gonna break 2290, which has been refused 5 times on weekly. You should know by now that none of these strong drops mean anything regarding trend. 2416 is monthly pivot, 2391 weekly pivot.
you already answered about the real destination for LQ, break this 2290 for 2270 and then continue up, market must take sell side now, of course we can see new high but that will be just 20-30$ more than last for take some stops, then fall for new not taken stops
People don't plan to lose. They lose because they don't plan.
  • #37,027
  • Aug 2, 2024 10:51am Aug 2, 2024 10:51am
Prasad Kadri xauusd (Gold) Analysis
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Formal Education Makes you a Living, But Self Education Makes you a Fortune
  • #37,028
  • Aug 2, 2024 10:58am Aug 2, 2024 10:58am
Sticking with no shadow on the close. We’ll see, as all, could be wrong.
Que Sera
  • #37,029
  • Aug 2, 2024 11:08am Aug 2, 2024 11:08am
Quoting Catempire
{quote} it’s manipulated first & technical second. it will go lower before being bought up hard, based on the psychology of the market & how the powers that be rinse it & it most often happens when everything is pointing to the opposite. Personally, I think we have a lot of media scaremongering & hysteria coming… before reality sets in, everything always drops. It’s not as simple as “golds a safe haven” in the short term because the majority of the market don’t know how bad things will get. Might be a small correction or could be the mother of all...
See its coming the same place upside.
Formal Education Makes you a Living, But Self Education Makes you a Fortune
  • #37,030
  • Aug 2, 2024 11:09am Aug 2, 2024 11:09am
Prasad Kadri : Retracement as i told 2455
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  • #37,031
  • Aug 2, 2024 11:15am Aug 2, 2024 11:15am
Quoting Catempire
{quote} it’s manipulated first & technical second.
I disagree on that. I've been reading about "manipulation" for almost 2 decades now and while we had scandals, they were discovered, companies paid fines and it was a far cry from typical manipulation claims retail traders do. The latest was in 2020 with spoofing (placing an order with no intention to fill it to create false demand or supply in order book).

This is a zero-sum game, thus it's obvious that if one side wins, another loses and that creates an ideal environment for manipulation claims, but that's just normal trading. The only entities who would have power to manipulate prices are market makers, who could suddenly pull out all offers and make the price violently jump, a thing well known to crypto speculators.

What I believe is, that market has 2 phases, one which is a directional move and the other one which is pure chaos. Chaos is defined by neverending zigzags and is basically just random price action.

On the technical note of xauusd: As I mentioned 1 hour ago, monthly pivot is at 2416 and you can see now how price reacted to that level. Now we get to daily pivot at 2446 and if I had to guess how the rest of day plays out, price will stay between these 2 levels. Luckily, I'm out of the market and not looking forward to a crazy bad Monday.
  • #37,032
  • Aug 2, 2024 11:25am Aug 2, 2024 11:25am
I miss the sell side position rally but successful buy entry at scalper support.
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  • #37,033
  • Aug 2, 2024 11:31am Aug 2, 2024 11:31am
it was actually a strage day for GOLD
YEN moved quite nicely
only GOLD got pumped heavily,
as i mentioned earlier in my post,
Stick ot fundamentals,
gold is already priced in for Rate cut,
so it went up to suck in buyers and then sudden drop in few minutes 10$ then 30 minutes 30$ woo,
it was nice to watch such a move and i very very disappointed to be honest i close early but profit is profit

not bad but not happy to be honest i was selling rom yesterday as you can see from my trades open time close time
should have help atleast 1 trade open even 0.15 small lot till 2400
but its friday so i closed it may very well reverse to 2440
i am hoping 2445 so i can start selling again,
but we will see how the week starts
monday will be amazing for YEN
its over sold in soo many levels
and BOE rate cut and BOJ increasing the rates hit the GBPJPY very very hard in 2 days almost 900 pips down,
that is something i dont like neither BOJ,
Suzuki said today they are watching the market,
Funny thing is
when it was weak they were watching the market as well not its strong and they are doing same thing,

but i can assure you its over sold at many levels and the fact 146.50 was previous strong support if it holds on Monday usdjpy will get close to 150 for yen it is not far away that means GBPJPY will go back to 192 or close enough
not sure how fast but end of next week it will be clear which way yen ended up.
and dont Forget China,
people talk about BOE and FED, but for me the main big shock came from china when they CUT the rate unexpected,

no one pays attention to Chinese News or their economy but it is world's second biggest economy i never understood why people just focus on US and not China,
even Japan is on 3rd positions and Germany is 4th
but again my system is i check under every rock to get my analysis right,
anyways

Good luck i am done for the week
have 1 GBPJPY and USDJPY buy running lets see how it goes on Monday,
maybe open start going up or maybe down but for its probability's game guys,
we trade the Odds and
take care guys.
One thing i know about this market it always bounce back,
so we are looking at Dollar index its wat down 102 is not something we can digest easily,
so my advise "DONT COUNT THE DOLLAR OUT JUST YET"

" Understand is an Art and not everyone is an Artist"
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Don't compare your Trades with Others
  • #37,034
  • Aug 2, 2024 11:38am Aug 2, 2024 11:38am
Quoting mades
{quote} I disagree on that. I've been reading about "manipulation" for almost 2 decades now and while we had scandals, they were discovered, companies paid fines and it was a far cry from typical manipulation claims retail traders do. The latest was in 2020 with spoofing (placing an order with no intention to fill it to create false demand or supply in order book). This is a zero-sum game, thus it's obvious that if one side wins, another loses and that creates an ideal environment for manipulation claims, but that's just normal trading. The only...
black rock, have the 3rd largest amount of assets under mgmt, there are only 2 countries with more money. They manipulate governments, they control 98% of the S&P and you can bet all your dollars they aren’t far behind gold. They can also do what they want with that money, unlike the 2 countries.

they’re also free of any morels whatsoever.

apparently even going to rebuild Ukraine… you catch my drift ??

I think it was the ceo from google (or one of the top USA co’s) who recently said, referring to Larry Fink (ceo black rock) “I don’t fancy living under a dictator”

they can manipulate everything and mark my words, they do.
Que Sera
  • #37,035
  • Edited 12:00pm Aug 2, 2024 11:40am | Edited 12:00pm
When Goldman gives an target $2600 a couple of days ago expect that some will be selling into the buyers of those news....
Those who don't believe in magic will never find it
  • #37,036
  • Aug 2, 2024 11:43am Aug 2, 2024 11:43am
Quoting Wilczur
{quote} 2425 is very very close my friend.

yes ,i asked to know your strategy? how you know ? i trade based on supply demand wyckoff smc msnr and fibo secret this is my own strategy PTZ potential trading zone.. day chart fibo snr and dominan break look left
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  • #37,037
  • Aug 2, 2024 12:05pm Aug 2, 2024 12:05pm
Quoting PayTheBid
When Goldman gives an target $2600 a couple of days ago expect that some will be selling into the buyers of those news....
This must be their year end target. The sharp drop have nothing to with that or tropical storms.
Most likely, it could be due to short traders that started to hedge around the top. We will se how the market will put us all on a test in coming hours/days.

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ma ma make me happy
  • #37,038
  • Aug 2, 2024 12:08pm Aug 2, 2024 12:08pm
i really hope gold can back up to 2500..
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  • #37,039
  • Aug 2, 2024 12:28pm Aug 2, 2024 12:28pm
Quoting Catempire
{quote} black rock, have the 3rd largest amount of assets under mgmt, there are only 2 countries with more money. They manipulate governments, they control 98% of the S&P and you can bet all your dollars they aren’t far behind gold. They can also do what they want with that money, unlike the 2 countries. they’re also free of any morels whatsoever. apparently even going to rebuild Ukraine… you catch my drift ?? I think it was the ceo from google (or one of the top USA co’s) who recently said, referring to Larry Fink (ceo black rock) “I don’t fancy...
I'm sorry but Larry Fink is a poor man's dictator. I mean, just look at the anti-Fink page at https://whoislarryfink.com/. He is being accused of being 'woke'. That is the dictator who controls 98% of the S&P? Nah man, that's just US right wing propaganda, nothing based in reality. Seriously, never ever trust politicians or those who aspire to be politicians.

Elon Musk is 100x more powerful in every way and open about it.
  • #37,040
  • Aug 2, 2024 12:33pm Aug 2, 2024 12:33pm
Quoting mades
{quote} I'm sorry but Larry Fink is a poor man's dictator. I mean, just look at the anti-Fink page at https://whoislarryfink.com/. He is being accused of being 'woke'. That is the dictator who controls 98% of the S&P? Nah man, that's just US right wing propaganda, nothing based in reality. Seriously, never ever trust politicians or those who aspire to be politicians. Elon Musk is 100x more powerful in every way and open about it.
It’s in no way, shape or form “Right wing propaganda” it’s people who read both sides of an argument & don’t stick their head in an echo chamber of what they want to hear. Just because it’s not shoved down your throat by MSM doesn’t mean it’s not true !!
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Que Sera
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