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GOLD, ShortGold has been able to fill liquidity to 1879.800 and could correct to 1845 to fulfill Fibonacci retracement to 50% before a possible surge up to 1900 in the coming days. The PPI News on Wednesday, 11th October was a positive news for the greenback (Dollar index) and the CPI and UoM Consumer Sentiment News is coming on Thursday and Friday, 12th/13th October. Usually, the CPI news is negative for Gold so let's see how it could determine the direction of the gold market.
OANDA:XAUUSDShort
by AbeikuGlobal_FX
4
The Squid Game Shows Why Most People Fail to Profit from Trading"Squid Game, the sensational Netflix series that has taken the world by storm, offers a gripping mirror to human psychology, reflecting the intricate dance of emotions and decisions that we often encounter in the world of finance. Just as unsuspecting individuals are lured into the deadly games by the enigmatic subway stranger, many novice investors are drawn into the stock market by tales of friends striking it rich, often diving in headfirst without a hint of the rules of the game. It's a rollercoaster ride from beginner's luck to the perilous cliffs of attribution bias. Beginner's luck, that elusive phenomenon where newcomers seem to outshine the experts, can be an enticing trap. It leads to overconfidence, a misplaced faith in gut feelings, and an overzealous desire to trade that often ends up costing a small fortune in fees. These overconfident traders become engrossed in their own world, neglecting the wisdom of statistics and putting all their eggs in a single, precarious basket. Attribution bias, another insidious cognitive bias, rears its head as traders concoct explanations for their successes and failures. Profit? They're geniuses with uncanny foresight. Loss? Blame it on market conditions or mere bad luck. The mind constantly seeks excuses for every twist and turn. Even great minds like Isaac Newton, who could unravel the mysteries of the cosmos, fell victim to the madness of financial markets, a glaring example of attribution bias in action. In Squid Game, the players, after witnessing horrifying tragedies during 'Red Light Green Light,' are given a choice to continue playing or not. Overconfidence and attribution bias grip the survivors as they believe they are destined for victory, much like many traders who cling to the belief that improbable outcomes are within their grasp. Mob psychology and the bandwagon effect rear their heads in the story, too. The players form alliances and teams based on earlier factions, mirroring the tendencies of investors to follow the crowd rather than adhere to their own strategies and analyses. Panic buying, selling frenzies, and susceptibility to pump-and-dump schemes ensue. In the financial world, these psychological phenomena can lead us astray, costing us dearly. But unlike the brutal Squid Game, financial markets aren't a zero-sum game. With a solid understanding of market characteristics, rules, and diligent research, you can gain a statistical edge. As a trader, I'd argue that technical knowledge accounts for less than 5% of the equation; it's all about mastering your cognitive biases and maintaining emotional control. So, just as the surviving players in Squid Game strive to outlast their competition, investors and traders should strive to outsmart their own psychological pitfalls. In the end, success in the market isn't about luck but about mastering the intricacies of the human mind in a complex financial world. If you found this insightful, don't forget to like and follow for more quality content! Feel free to share your thoughts and questions below—let's navigate this financial journey together!" This chart is inspired by @Michael_Wang_Official
BNC:BLXEducation
by CRYPTOMOJO_TA
3
Now what will be the goal of Gold, see our analysisWe saw that on Friday, when the NFP news came, the market was running at 1820. After that, the market went down and reached 1811.   The market went up to 1835, after which it went down a little. On Friday, the market closed at 1832, and when the market opened today, it opened with a gap, and at that time it was running until 1852.   If the market breaks 1846, then our next target is 1830, which is also support; if the market breaks 1830, then our next targets are 1816 and 1799; and on the other hand, if the market breaks the resistance of 1857, then our next targets are 1870 and 1880.   Due to the war between Palestine and Israel, the whole market is not stable. We request that you monitor the market again and again and use your stop-loss
OANDA:XAUUSD
by MsProTrading
5
THE WORLD IS CHANGING, SO IS THE OIL PRICE MOVEMENTSCAPITALCOM:OIL_BRENT On the fundamental side, Brent oil prices have been supported by a number of factors in recent months, including: Strong global economic growth, which has boosted demand for oil. Supply disruptions caused by the ongoing conflict in Ukraine. The decision by OPEC+ to cut production by 2 million barrels per day. The war in Iran, which has raised concerns about further supply disruptions. However, there are also some headwinds facing Brent oil prices, including: The potential for a global economic recession, which would reduce demand for oil. The release of oil from strategic reserves by the United States and other countries. The increasing popularity of electric vehicles, which could reduce demand for oil in the long term. Overall, the fundamental outlook for Brent oil is bullish. The factors supporting prices are likely to outweigh the headwinds in the near term, but there are some risks to the upside potential. Technical analysis On the technical side, Brent oil is currently in an uptrend. On the 30-minute chart, the price is above the 50-day and 200-day moving averages, and the RSI indicator is above 50. This suggests that the bulls are in control and that the price is likely to continue to rise in the near term. On the 4-hour chart, the price is also above the 50-day and 200-day moving averages, and the MACD indicator is giving a bullish crossover signal. This further confirms the uptrend on the 4-hour chart. On the daily chart, the price is also above the 50-day and 200-day moving averages, and the RSI indicator is above 50. This suggests that the uptrend is likely to continue on the daily chart as well. Elliott wave analysis Elliott wave analysis suggests that Brent oil is currently in the fifth wave of a five-wave Elliott wave sequence. This means that the price is likely to continue to rise until it reaches its target, which is around $100 per barrel. Conclusion Overall, the fundamental and technical outlook for Brent oil is bullish. The price is likely to continue to rise in the near term, with a target of around $100 per barrel. However, investors should be aware of the risks posed by a potential global economic recession and the ongoing war in Iran. Additional thoughts on the war in Iran The war in Iran is a significant wildcard for the oil market. If the war escalates, it could lead to a major disruption in oil supplies, which would send prices soaring. However, it is also possible that the war will be resolved quickly, with minimal impact on the oil market. Investors should closely monitor the situation in Iran and be prepared to adjust their positions accordingly. I am deeply saddened by any war and the conflicts happening around the world. My heart goes out to all those who have been affected by this violence. I know that words alone cannot heal the pain of those who have lost loved ones or been displaced from their homes. However, I want to express my solidarity with all those who are suffering and to let them know that they are not alone. I believe that peace and understanding are essential for a better future. I hope that we can find a way to resolve these conflicts peacefully and build a more just and equitable world for all. This being said, coming back to our analysis, good luck everyone in your financial decisions.
CAPITALCOM:OIL_BRENTLong
by YExplore