Gold

2629 hit.

Close below 2627...Bearish

todaii we might see a waterfall....lets wait for it to return back up..then we sell

We might continue lower. we got some pretty good 2635 - 37 resistance. let's see if it holds

26 36 sold of very beautiful loving it

great post and accurate.

May I ask what confirmed this for you?

Got ya! Chicken head. Now, let's fly.

Thank you too much for clarifying that line chief. Because, I am an intra day trader. I trade what happens from day to day. A very well done chief.

pls

The price is highly likely to test the 2624-2626 range before potentially returning to the upside, targeting the 2650 level.

starting to look a bit heavy...I'm out

The 2636-2639 level is solid. For the price to break above it, it will likely need to gain support from sellers who are waiting for a down move. Once these sellers are trapped, the price will likely move up safely. This is the pattern I have observed and believe to be a confirmation.

Not sure what intraday will do, look like compression waves into resistance area.

2607/8 is the support i want to see first.

I am selling, tp in a moment.
Edit: tp 2 2614.01 tp 1 2616.88
SL 2635.820
Adding more at 2628.990

cut loss 2626

Confirmed

I've been enjoying this site as a silent spectator, but now I'd like to ask: What is the majority's assumption about the coming plunge of golds price based on? Even though xauusd has increased 27% YTD and 44% after the start of war in Gaza, which could be a sign for a strong reversal, there’s many variables supporting the high price of gold.

1. last time US employment rate was this low, in Feb 2022 (https://tradingeconomics.com/united-...mployment-rate)
2. US inflation has stagnated between 2.5-3.5% yoy the last 1.5 years, which is remarkably high, considering the state of inflation between Mar 2021 - Jun 2023. And furthermore considering, that between Feb 2021 - Dec 2024, the US avg hourly earning MoM, has been between 0 - 0.7%. (https://ycharts.com/indicators/us_inflation_rate), (https://tradingeconomics.com/united-...ourly-earnings)

Based on interest rates, inflation, wages and unemployment, the current state of the economy in the US isn’t very 'healthy'. Since the increase in wages has lagged far behind the increase in prices, a slight deflation could be great for the economy, but it cannot be achieved by raising interest rates. A raise in rates wouldn’t be good for US debt nor employment. Therefore, even though rate cuts will be a risk for inflation, it will support the buying power of US population, which is much needed after 4 years. Overall, according to data, I don’t see dollar strengthening much during the coming year.

And regardless of what happens between Ukraine and Russia next year, the situation in Syria, between countries like Russia, Turkey, Iran, Israel and the US, will maintain geopolitical tensions in 2025 -> supporting the high price of gold.

I know many folks here love to follow price action and technicals, and so do I, but since the economic reports don’t support the strengthening of dollar (even though it could strengthen against euro), I see gold pretty strong for the next 2 years. Following price action, xauusd could see a significant liquidity grab to H1 support 2538, or even levels as 2480. But IMO I still see gold hitting 2750 in the next year. But who knows I don’t.

Excited to see Trump stepping into the White House 20. Jan. Let’s see how the year of crypto will affect gold.
I hope the upcoming year is full of rewarding opportunities for all of us.

Would highly appreciate opposing thoughts on gold price!

big short gold 2627 , 30 lots

Still holding ya!