Gold seems firm on its resolve to hold to a $1,800 price despite some sideways movement after a 4,000pips move to the downside at the beginning of last week's trading. Price is currently back at the critical level around the $1,800 area sending mixed signals across the market and from a technical standpoint, the tendency of both a bullish and bearish expectation for the coming week makes options very open. Now, the consensus is that the Fed is expected to raise rates by 50 basis points next Wednesday which would mark a slower pace of rate increases, and technically it is important that we use the current technical structure to position ourselves in such a way that we catch the move at its inception.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
The sell position was triggered following selling pressure below the key level identified in the video at $1,800. Secure position and looking out to add position at the breakdown retest of the $1,785 support level. Update coming up soonGood morning
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3 positions triggered, secure positions as we look forward to selling pressure below the $1,785.Trade active
Over 4,000pips in profit; secure all 3 positionsNote
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Continued sell pressure below the $1,785 welcomes additional positionTrade closed: target reached
Just as discussed during the live session this morning (uploaded on youtub) - (TP target hit for buy position). Let's see how the price relates to the $1,810 level to either add a position or join the decline. Negative data for CPITrade active
The last 15 hours have witnessed a tight consolidation within the $1,810 and 1,812 zone in anticipation of the macroeconomic events coming up today (see that chart for details). So, we shall be looking out for a signal in the form of a breakout or breakdown of this structure today.Good morning
Trade active
Just as discussed during our live session this morning - we are still waiting for signals in the form of either a breakout or breakdown for trading opportunities as price action remains within a flat channel. See the replay of the live session on my youtub for details on how we intend to manage this trade.Trade active
Fed Interest rate decision and FOMC coming up within the next 30 minutes as we wait out for a signal (breakout or breakdown). It's looking like a breakdown is likely at this juncture but let's position ourselves in such a way that we can catch whichever direction price action chooses with respect to the macroeconomic event.Trade active
Secure position nowTrade active
Fed hikes policy rate by 50bps by 4.5% just as expectedTrade closed manually
Taken out of position at break evenTrade active
Anticipate re-entryTrade active
Two positions running with over 3,000 pips running in profit as we look forward to adding another position at the sight of selling pressure below the $1,788.50 level. Good morning
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Secure all positionsTrade active
Just as discussed during our live session today; secure all positionsTrade active
Update on 15 minutes timeframeTrade active
Secure the new position at the breakdown of the trendline.Trade active
Secure sell position as new sell pressure is identified below the $1,780Trade active
Indecision grips the market as price action is caught within a consolidation phase ( between $1,783 and $1,775) in the last 10 hours. So, we want to wait for either a breakout or breakdown of this channel for a signalTrade active
Patience is still required as the price still remains within the channel of $1,783 and $1,775. Update coming up soon.Good morning
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With the appearance of buy pressure above the $1,775 level; Set-up on 15 minutes timeframeTrade active
Secure both positions as the second position got triggered at the breakout/retest of the $1,783. You might want to see the replay of our live session this morning for insight into how to manage this trade (video on youtub).Trade active
the second position taken out at break-even as selling pressure resurfacesTrade active
Running in profit, Secure all positionsCongratulations to everyone who was part of the profitable journey this week...
Happy weekend to you all!
Trade smart. Trade consciously
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade smart. Trade consciously
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.