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  • #43,981
  • Sep 23, 2024 8:35am Sep 23, 2024 8:35am
Quoting Silver-King
{quote} Hahaha. Honestly, this up, up and up I didn't expect to be honest. Something tells me that the news could lower the price again, but I won't be betting on that.
im in the bet as long as daily run
  • #43,982
  • Sep 23, 2024 8:38am Sep 23, 2024 8:38am
Quoting Silver-King
{quote} There's still 0.001% that begs to differ! Hahaha Honestly... this is very weird price action today. First, we get a pretty decent sell and then just up with no retracement at all. However, US data is in 25 minutes and PMs tend to sell off during US session, so we'll see...
That is simply Monday. No new buyers or sellers. All orders are in place and markets goes distribution mode. In case of US data today is expected to be mixed. So no rush.
  • #43,983
  • Sep 23, 2024 8:41am Sep 23, 2024 8:41am
Quoting Interesting0
I’m thinking it’s a good strategy to do the opposite of what ppl post here? Anyone ever tried that … if so how did it work out just for info.
That strategy is too vague.
How will you control your downside?
Just by being contrarian? Surely you will also lose. Majority of the time. Because you will not be trading a predefined rule that we called having an edge.
An edge can be defined as something that allows you trigger the order, where the market to move against you is very limited while moving in favour of your position is more probable.
So limited downside risks and more upside potential reward
Look at this
Took an screenshot to post, but was having a gateway problem.
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD_2024-09-23_12-04-49.png Size: 49 KB


I'm being contrarian, yet also following my strategy.
Goal is not the be contrarian, goal is to follow your strategy..
GL with your trading
More time in the market, does not mean you trade better!
  • #43,984
  • Sep 23, 2024 8:41am Sep 23, 2024 8:41am
Quoting giveachance
the upcoming data is likely to disappoint and gold is likely to fly. stay hedged, as more and more bad data comes recessionary scenario will come more near and near. one thing is for sure. in recession gold cannot rally. no matter what
Now, giveachance, you will explain to us why did the Gold drop from March of 2008. through to October of 2008. after which the Gold started to rally and went from 680$ to 1920$.

The reason why I ask you is because it sounds like you know why and I have only found so much information on the internet that explains why Gold dropped during 2008.

One article I found has stated that the fall in the price of Gold was because the banks had to start selling their Gold reserves for liquidity (US Dollars).

If this isn't the reason behind Gold price falling, then please share your view, because I honestly do not know. Thanks buddy! (I REALLY WANT TO KNOW!)
Maybe it's because people sell everything in recession, however why would they buy the Gold again few months later? This theory doesn't add up.
  • #43,985
  • Sep 23, 2024 8:42am Sep 23, 2024 8:42am
Quoting giveachance
{quote} what do u like so much abt kamala harris that you are promoting her left right
This is only meant to disrupt. Back to FX Thank you Zebi for trying to help out the newlings with info.

There's a world of info waiting to be tapped into, and the rest will come with experience and patience.
"Who Dares Wins"
  • #43,986
  • Sep 23, 2024 8:42am Sep 23, 2024 8:42am
Quoting PushnPull
{quote} That is simply Monday. No new buyers or sellers. All orders are in place and markets goes distribution mode. In case of US data today is expected to be mixed. So no rush.
Yeah... testing the patience of both Buyers and Sellers while not going anywhere (probably will close where it opened).
  • #43,987
  • Sep 23, 2024 8:43am Sep 23, 2024 8:43am
Quoting Silver-King
Only now saw that Pedro's status is commercial member. Can commercial members continue posting or are they not allowed anymore?
Banned to Hades. The commercial zone is death on FF.
TechKnow
  • #43,988
  • Sep 23, 2024 8:44am Sep 23, 2024 8:44am
2636 will be a good point to look for short
  • #43,989
  • Sep 23, 2024 8:45am Sep 23, 2024 8:45am
Quoting Techknow
{quote} Banned to Hades. The commercial zone is death on FF.
So no posting anymore I imagine...
  • #43,990
  • Sep 23, 2024 8:46am Sep 23, 2024 8:46am
US Manufacturing continues to be in contraction for 47 years now.
The Fed has the tool to fix it though... the one and the only tool and the Jay's favourite!



Inserted Video
  • #43,991
  • Sep 23, 2024 8:47am Sep 23, 2024 8:47am
short at :1627 50
sl : 2630.50(sl hit )
tp : 2617.50
  • #43,992
  • Sep 23, 2024 8:47am Sep 23, 2024 8:47am
markets will like this services PMI number. gold ideally should not rally now but gold is gold and if market wants 2646 today it will get it
  • #43,993
  • Sep 23, 2024 8:48am Sep 23, 2024 8:48am
Quoting Orand
short at :1627 50 sl : 2630.50 tp : 2617.50
that was quick
No emotions
  • #43,994
  • Sep 23, 2024 8:48am Sep 23, 2024 8:48am
Quoting Silver-King
Only now saw that Pedro's status is commercial member. Can commercial members continue posting or are they not allowed anymore?

no...like lepers they get segregated from the normal posters
short trump and go long the deepstate
  • #43,995
  • Sep 23, 2024 8:49am Sep 23, 2024 8:49am
Quoting Whale
{quote} im in the bet as long as daily run
Down as expected haha, but not that much.
  • #43,996
  • Sep 23, 2024 8:50am Sep 23, 2024 8:50am
Quoting giveachance
markets will like this services PMI number. gold ideally should not rally now but gold is gold and if market wants 2646 today it will get it
DXY is cooked bruv, until something convincing like strong NFP or Unemployment claims, none of these reports going to help gold drop

DXY by itself does seem healthy though, took BSL on the daily today as well its looking good for the DXY tbh (this might be reflected on fx pairs not sure i don't trade them)
  • #43,997
  • Sep 23, 2024 8:50am Sep 23, 2024 8:50am
The fact that this is not shooting up is sus as hell
Oh well there it goes ^^
  • #43,998
  • Sep 23, 2024 8:51am Sep 23, 2024 8:51am
Quoting Mktnewews
{quote} Mate, it seems to me justing being ur guess, right? I would probably wait until US trading zone to see, asia and maybe euro zone as well usually no trend at all
TP smashed!!
  • #43,999
  • Sep 23, 2024 8:52am Sep 23, 2024 8:52am
Quoting SnakeDok
The fact that this is not shooting up is sus as hell
Because comex just open. Sometimes when there is a pullback. Thats when the trap begins.

Out of sudden price range slowly and pop again and again. It will pop again. Advise to off trade for today. Get a clearer direction of todays closure. See the liquidity created by the gaps of the wicks
Trading is very lonely
  • #44,000
  • Sep 23, 2024 8:53am Sep 23, 2024 8:53am
this is really looking for bad for bears now. like someone said I too agree it wont fall till NFP
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