Rhodie I forgot to post this for you the other day just as well cause now we have the same week and a new chart that shows what average is. Although I am still a bit
unsure of what you meant by 5.50 appx being a "classic" rangebound Gold day - b/c it is actually very,very tight and far from "classic" actually unless you are 50 cent or specifically trading one USD it's not even worth trading if it is truly ranging. You'll make at best 2.50 USD move per trade and that is with the spreads taken.
So below I will type in my constructive comments.
EDIT: Oh this was it - you have it I think right but are totally forgetting about the multiple fails downside at 1235/8 as well as the 14 + hour stretches the price remained around 2 bucks above @ 1240 from 38 and could have been taken out or the range broken between any of the three days I believe it was we moved sideways in those areas between 1235 and 45. As well the last high was above or at 1260 which at this point it seems suggests both sides know once it goes, 1275 and 1300 will come.
All for daily moves - 1,- 5 USD range is extremely tight and other than a flatline maybe around holidays or for large ticket tick institutional traders using a box or algorithm it's useless. 10 is average for slower days or weeks - 20 is above average slightly and a decent day trade. 30 is low high, usually days when the specs are moving the market a bit and USD tanking. 40 and 50 is HIGH = great yet is getting into either major tech breakouts which usually only create when the market ranges - like 5 USD around a major support around a major upcoming news release or after an interest rate change.
60,70,80 are pretty much the same as 50 - big news, large fund buys/sells, techs working with news and fundies is key to this also.
but can be also associated with market fear - which can work on Short and long sides - another discussion.
War, economic disaster, major mistakes in market,
I guess this is edited IDK EDIT: Found it in above edit made comment. - because I remember something about the market going sub 1225 or 1235 and as I mentioned to someone else the shorts had several failed opportunities thus far, to beat 1235 yet failed even after a correction of the new weekly high right around 1260 which is current topside resistance.
But in any case, being that we are still basically sideways the bulls still need to produce a close above 1260/5 there is work and money that needs to enter the market
before a decisive trend starts creation.
Hope this helps.
XT-
unsure of what you meant by 5.50 appx being a "classic" rangebound Gold day - b/c it is actually very,very tight and far from "classic" actually unless you are 50 cent or specifically trading one USD it's not even worth trading if it is truly ranging. You'll make at best 2.50 USD move per trade and that is with the spreads taken.
So below I will type in my constructive comments.
Disliked{quote} Good to see you thinking that gold is to be shorted, but consider this:
1.) There have been 2 attempts at the last high of yesterday and they failed. Make gold more bearish than 1250 hopes.Ignored
EDIT: Oh this was it - you have it I think right but are totally forgetting about the multiple fails downside at 1235/8 as well as the 14 + hour stretches the price remained around 2 bucks above @ 1240 from 38 and could have been taken out or the range broken between any of the three days I believe it was we moved sideways in those areas between 1235 and 45. As well the last high was above or at 1260 which at this point it seems suggests both sides know once it goes, 1275 and 1300 will come.
Disliked2.) It's a $5.62 range so far today. That's a classic rangebound market day. It's hung about the middle of the range so far with no decisive movement.Ignored
60,70,80 are pretty much the same as 50 - big news, large fund buys/sells, techs working with news and fundies is key to this also.
but can be also associated with market fear - which can work on Short and long sides - another discussion.
War, economic disaster, major mistakes in market,
Disliked3.) @1243.4 is the ceiling for gold today.This was resistance fromJan 15th to 17th and in play again.Ignored
Disliked4.) Day is half way done for trading. If there were going to be moves made, they would most likely have been made already today.Ignored
Disliked5.) The geometry shows that gold is rolling over to go lower already. The curve of sentiment is changing to more bearish.Ignored
But in any case, being that we are still basically sideways the bulls still need to produce a close above 1260/5 there is work and money that needs to enter the market
before a decisive trend starts creation.
Hope this helps.
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
FORECAST 331. 
