Gold Drops $100! Is Now the Perfect Time for a Pre-Rebound Buy?With Trump’s presidency and his economic focus, gold prices have taken a sharp plunge, dropping nearly $100. While I anticipated a decline, this significant drop exceeded my expectations. Fortunately, we managed to close out our long positions above 2700 and also capitalized on a successful sell-off during the New York session.
Gold has now fallen below 2660 and remains pressured under the MA5 on the 30M chart. However, I believe a strong rebound is imminent. I estimate that gold could reach a solid bottom around 2646, with a possible low near 2631. On the 1D chart, the MA60 sits at approximately 2618, though I believe it’s unlikely to drop that far today.
Today’s plan is to buy on the dip, with an eye on a potential rise to around 2780, after which I’ll shift strategy to selling. By seizing this potential rebound, we stand to capture considerable gains!
Goldman_analysis
Perfect Time to Buy Gold! Morning Star Signals Further UpsideGood morning, everyone! A new day, a new opportunity! Yesterday’s trading brought us solid profits, and today we aim for even more gains.
In the current gold market, I believe buying is the optimal strategy. In the short term, gold is likely to rise before a potential pullback. What’s behind this view?
Take a look at the 30-minute chart: gold has successfully broken through the MA60 resistance and has formed a “morning star” pattern—a strong bullish signal indicating increased upward momentum. If MA60 can hold as support, gold is expected to rise to around 2745, possibly even reaching 2750.
Ideal Time to Short Gold Overnight—Exercise CautionGold is now ready for another short (sell) position, with the option to hold overnight and plan to close tomorrow. Please be mindful of the risks as you trade and ensure your strategy aligns with your individual risk tolerance—stability is key to success!
gold outlook🟠 Gold Spot (XAU/USD) Analysis: Key Levels & Potential Movements
The 4-hour chart for Gold Spot (XAU/USD) provides a comprehensive look at the market's behavior over the past few weeks.
- 4H Upward Trendline: This trendline has been respected multiple times, with at least four price touches, indicating its significance in the market. However, keep in mind that even strong trendlines can break.
- Sideways Market (20th Aug - 30th Aug): After a strong upward move, the market entered a consolidation phase, trading sideways within a defined range. This often indicates indecision, as buyers and sellers struggle for control.
- Break of the Sideways Market (30th Aug): On the 30th of August, we saw a significant break below the sideways range, suggesting that the bears might be gaining control.
Potential Movements:
- Upward: If the market manages to recover above the broken trendline and retests the upper levels, this could signal a continuation of the previous upward trend.
- Downward: Conversely, a failure to reclaim the trendline, coupled with continued selling pressure, might confirm a bearish movement, with the possibility of further decline.
Remember, anything can happen in the market. It's crucial to wait for clear confirmations before entering a trade. Stay alert and be ready to adapt to the next move!
8.23 Gold Short-term AnalysisGold fell all the way to 2475 after the release of the number of people applying for unemployment benefits in the United States on August 17 at 10:00 Eastern Time, and then rebounded slightly and is currently trading around 2493.
Piovano pointed out that the market's attention is still focused on the speech of Federal Reserve Chairman Powell in Jackson Hole.
This will determine whether gold can stand above the new historical high of 2530 or fall below the third support line of 2450.
Support level: $2470.85/ounce; $2450.22/ounce; $2430.35/ounce
Resistance level: $2519.18/ounce; $2531.76/ounce; $2535.00/ounce
Do you have any different opinions and suggestions on gold?
Please like and comment
8.21 Gold Trend Operation Analysis Short-termIn terms of the average daily fluctuation range, gold is currently in a fluctuating downward trend. The bullish momentum is obviously more difficult than before. The one-hour chart trend is basically sideways and the candle is weak.
Short-term operation points
2515 short, take profit 2505, stop loss 2522
2505 long, take profit 2520, stop loss 2500
8.19 gold operations analysisContinuing the trend of last Friday, gold has been above 2500 in the early trading and peaked at 2509. The next operation will mainly depend on the European trading session. At present, gold is still rising. If it can successfully break through 2510, then the upward trend of gold will be relatively large. Key points: Resistance level 2510 2520 2535 2550 If it falls below 2500, the key points are: 2490 2480 2475 2460 2450 Accurate signal I will notify you in the group in time, everyone remember to watch it on time
Analysis of gold market trend on August 15 (Thursday)From a long-term perspective, there is a lot of room for gold to rise!
Yesterday's CPI data was lower than expected. Gold was slightly bullish but plummeted 1% from a peak of 2476 to 2437 and closed at 2447.
In early trading today, gold fluctuated within a narrow range, with slight signs of recovery compared to yesterday. It is currently fluctuating at 2453.
In addition, there are several factors that you must consider!
1 Political situation in the Middle East: Tensions between Iran and Israel may have eased recently, and conflicts between Ukraine and Russia may further intensify.
2 The U.S. interest rate cut in September is a certainty, whether it will be 25% or 50%
The motivation for gold’s rise today on the daily chart is a bit lacking
Support level 2448 2438 2420
Resistance level 2460 2467 2480
The gold downtrend has begun, with the target below 2380From the hourly chart, we can easily see that the high point of gold is constantly moving down, which indicates that the overall downward trend is still continuing. In the previous article, I mentioned the decline of $95 on Monday. The Fibonacci retracement indicator shows that 0.382 is near the 2400 integer mark, and it also clearly mentions the bearish view here.
At present, it seems that the price of gold is running along the preset downward line. If it can break the support of the lower track of the Bollinger Band at 2380, then the head and shoulders top pattern mentioned above can be confirmed. By then, it is likely to continue to test the support of 2370 and 2350. If it falls below 2350, the downward space will be further expanded.
Now, traders who sell near 2400 can maintain their bearish beliefs. If there is no accident, this decline will most likely test the low of 2380. Let's wait and see.
If you have different opinions or questions, please speak up and let's discuss the latest ideas of GOLD together
Gold prices remain bullish. Available to buy now
Gold prices in Asia were flat.
No news about assists yet
The price of gold remains within a narrow range of 2177-2179. The long and short competition is fierce.
Based on the observation of MA and four-hour trend chart, the market is still in a small long trend. The bulls are obviously stronger than the bears. And the trend of rising and diverging should continue.
Today’s trading target remains at 2186-2190. Mainly buy low.
Radical friends can do so at a location near 2177.
Friends who don’t want to take risks can proceed below 2175
Control risk when trading.
Gold non-agricultural transaction analysis
Hello everyone, it’s Friday again. Today is the last trading day of the week. Friday's trading is usually the most complicated and today there is news on the US April non-farm payrolls data and the US April unemployment rate. We need to do a split on today's transaction. Let everyone know how to proceed with today's transaction.
Gold prices have been trading very narrowly so far since today's opening. As a result, gold can fluctuate wildly in both directions.
The current operating price range of gold is still between 2280-2330, and breaking any price range will continue to extend the trend. For example: 2280-2265-2255/2330-2350-2365.
So our transaction is divided into two parts
1: Transactions in the range of 2280-2330:
Selling area:
① 2317-2319
② 2330-2333
Buying area:
① 2292-2295
② 2280-2283
2: Transactions outside the 2280-2330 range
Above 2330:
①2336-2333↓↓↓↓↓↓↓↓↓↓2320-2322
②2345-2350↓↓↓↓↓↓↓↓↓↓2336-2333
③2333-2336↑↑↑↑↑↑↑↑↑↑2345-2350-2365
Below 2280:
①2280-2268--2262-2278
②2280-2268-2262-2255-2250
Today's analysis looks very complex. But it's actually quite simple. Combine the icons to find your trading zone trades. If you make a profit. Then you will not only succeed in trading but make money on your own. And you have successfully learned the first course of trading analysis.
I hope that my trading analysis will not only bring you trading profits, but also that everyone can slowly learn trading knowledge.
Already made 11K profit, consider shorting gold after reboundToday’s gold trading situation is as follows:
1.Xauusd: @2293.28 Sell, TP:2386.5 Profit: +$ 2696
2.Xauusd: @2378.43 Buy, TP:2394 Profit: +$ 6228
3.Xauusd: @2395.23 Sell, TP:2386 Profit: +$ 2769
Today, we made good profits in both long and short gold transactions. The total intraday profit exceeded $11k. We have continued our 9-game winning streak in recent gold transactions. This is a very good result.
For the current gold market, in fact, gold as a whole still maintains a high and volatile market. However, gold has failed to make good progress in the short term when it rose to 2400 many times. So after failing to break through many times, whether due to the need to accumulate upward momentum or a certain consumption of bullish energy, I think gold may undergo a deep correction at any time.
The pullback is coming as soon as it comes, and the current lowest level of gold has dropped to around 2361. If gold cannot quickly recover above 2380, or even above 2375, then gold may continue to fall back to 2355 or even around 2350, which means it may replicate the short-term trend on April 16th.This will lay the foundation for a short-term adjustment trend.
Therefore, in terms of trading, there may be a partial rebound in gold after a sharp decline, but it is best not to directly go long in gold now, because once gold cannot recover the decline as soon as possible, gold may continue to fall. Therefore, before there is a clear signal, I suggest waiting and watching and not rushing to trade! When there is a suitable opportunity, I will develop a trading plan accordingly!
I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Go long gold and count the money with your eyes closedDear friends, judging from the current overall trend of gold, it has become the norm for the market to fluctuate widely on a roller coaster, but there is still strong support below during the pullback. The short-term level has successfully built a double bottom structure, laying a solid support foundation for the bottom. According to the gold structure, there should be room for gold to rise, and the 2390 position is certainly not the end. Therefore, the short-term decline of gold is to better accumulate upward momentum, which is more conducive for gold to challenge the 2400 mark again.
In addition, the situation in the Middle East is getting more and more intense. Although there are occasional calms, the market risk aversion will not disappear. Once the conflict in the Middle East escalates, it will lead to a surge in market risk aversion and stimulate the rise of gold!
Therefore, in the short term, whether from a technical level or a news level, the energy of gold bulls is still tenacious, so we should follow the trend in trading and seize the opportunity to do long gold when gold falls. From this, we might as well boldly go long gold in the 2370-2365 area, and then patiently wait for the rise of gold to bring us considerable profits.
I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Gold’s 13th consecutive victory, continue to short goldDear friends, today gold has been in a retracement situation. Although there have been several symbolic struggles, in the end the bears have the upper hand. The current lowest gold price has been around 2324. Of course, our short gold order around 2360 also successfully hit TP: 2349. We gained a lot of profits from this.
At present, gold maintains a volatile and weak situation. In the short term, I still maintain the view of being weak on gold, and gold is likely to fall into a continued retracement, and the target below is the 2320-2310 area. But if the short position is established, gold will also rebound to a certain extent after the breakthrough, and the technical level below will also give the bulls some support. Then gold will give us the opportunity to short gold again after it rebounds.
Therefore, in terms of trading, we can now first consider shorting gold in the 2355-2360 area, with the target looking at the 2340-2338 area. I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Goldman Sachs Rides High on AI Investments & Strong PerformanceAmidst a landscape of evolving financial markets and emerging technologies, Goldman Sachs ( NYSE:GS ) has strategically positioned itself to capitalize on the growing demand for AI-related infrastructure. The success of OpenAI's ChatGPT has invigorated investor confidence, leading to increased funding in promising AI startups.
In the wake of the Federal Reserve's efforts to navigate the economy towards a 'soft landing,' Goldman Sachs has demonstrated resilience and adaptability. Despite the challenges posed by rising interest rates and inflationary pressures, the firm has reported robust performance across various divisions.
Goldman's investment banking division witnessed a remarkable 32% surge in fees, driven by heightened activity in debt and equity underwriting, as well as advisory services for mergers and acquisitions. Additionally, revenue from trading in fixed income, currencies, and commodities (FICC) saw a notable uptick, buoyed by record financing revenue in mortgages and structured lending.
Equities revenue also experienced a substantial increase, reflecting the firm's ability to capitalize on market opportunities. Meanwhile, the asset and wealth management division achieved record quarterly management fees and witnessed significant growth in assets under supervision.
The Platform Solutions unit, which encompasses Goldman's consumer operations, reported a 24% increase in revenue. As the firm continues to streamline its consumer banking segment, investors are eagerly anticipating the potential for profitability in 2025.
However, amidst the positive momentum, Goldman Sachs faces scrutiny over its consumer banking strategy. Concerns have been raised regarding the efficacy of CEO David Solomon's retail push, leading to calls for the separation of the chairman and CEO roles.
Additionally, Goldman's co-branded credit card partnerships with General Motors have been discontinued, signaling potential challenges in its consumer-facing ventures. The bank's provisions for credit losses have also increased, reflecting uncertainties in its credit card and wholesale loan portfolios.
Despite these challenges, Goldman Sachs ( NYSE:GS ) remains focused on optimizing its business model and enhancing shareholder value. With a strategic emphasis on traditional banking activities and continued investments in emerging technologies, the firm is well-positioned to navigate the evolving financial landscape."
Gold will continue its bearish trend.Continue to short goldGold continued to fall after hitting an intraday high near 2372, with the lowest hitting around 2345. So far, although gold still has some rebound, it is difficult to continue its strength. Judging from the current market reaction, gold did not rise as strongly as before due to the surge in risk aversion over the weekend, but showed an inability to rebound. Then the short-term bulls may come to an end, and the short-term will be controlled by the power of sellers!
Currently, all short-term technical resistance is concentrated around the 2365 position, so the trading plan I shared today is also centered around shorting gold around the 2365 position. Although the current short-term level of gold has found support in the 2345-2340 area, we need to focus on the 2310 and 2270 positions below. Why pay special attention to these two locations? The reason these locations exist is simple. Because the vicinity of 2310 serves as a platform for the subsequent rise of the non-agricultural market. If it falls below this point, it will return to 2270. At least the probability is very high. Secondly, the 2270 position is the low point where the non-agricultural market will fall first. Once the 2270 position is broken below, Then the bears will completely control the market, and the space below will be completely opened!
Therefore, in the next transactions, I will still focus on shorting on rallies, and focus on the resistance in the 2365-2370 area.I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Gold shorts again after gold rebounds on MondayDear friends, a new week of trading begins tomorrow! Let’s summarize this week’s trading results first. Personally, I made over $68K in overall profit this week, which I feel is a very good trading result. Although I occasionally suffered losses during this week's trading, I was able to seize 95% of the trading opportunities and successfully make a profit. I think this is a very good result! Hopefully we can keep up the good work in the coming week!
For the gold market next week, due to the escalation of conflicts in the Middle East, gold may have the conditions to jump short and open higher on Monday, or gold will take the lead in rebounding with the support of safe-haven assets. If gold rebounds as expected, our first focus will be on the resistance in the 2365-2370 area above.
In addition, on Friday night, gold fell back from its highest position near 2431 to its lowest position near 2334, a correction of almost $100. This is a sharp correction that has never happened in the recent past. I think this may intensify market panic to a certain extent and cause a certain range of selling, which is detrimental to gold. In addition, from a technical perspective, gold has undergone a deep correction, which has consumed the momentum of the bulls and also destroyed the bull pattern to a certain extent. There may be a peak signal in the short term, so gold may continue its correction trend.
Therefore, I predict that gold will stage a trend of rising first and then pulling back in the trend next week. Therefore, in terms of trading and the main trading rhythm, I will focus on shorting on rallies, first focusing on the resistance in the 2365-2370 area above. Of course, I will adjust the specific trading strategy based on the real-time intraday market conditions. No matter what, I wish us another brilliant future in trading next week!
I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Gold's 11th consecutive win, let's set a recordDear friends, gold is crazy today. During the day, gold rose by $59 from around 2372, reaching a maximum near 2431, and then fell by $70, hitting a minimum near 2361. It's a crazy roller coaster ride. I think some people are happy and some are worried in today’s market!
At present, there is no reliable technical reference for gold in the short term. As for why gold has plummeted, whether it is due to technical overbought. In the final analysis, one is because the main force in the market wants to kill most of the long funds, and the other is because most people cash out their profits and follow the trend to sell. This led to a sharp decline in gold.
Gold is currently trading near the 2350 position. Can we go long gold again? I think there should be no rush to get involved in market transactions for the time being. Because the current sharp decline in gold will cause market panic and easily lead to a wave of gold selling, gold may still fall inertia. So we need to wait for the market to return to calm and then intervene in market transactions. Although we may miss some profits, our accounts will be safer! I think this is reasonable.
Then we will focus on the 2350-2345 area, which is a relatively important support area. If gold slows down its decline in this area, perhaps we can consider trying to do long gold in small batches around this area.
I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Gold has a 9-game winning streak, continue to short goldToday’s gold trading conditions are as follows:
1. Xauusd:@2340-2342 Sell, TP:2328 Profit: + $3708
2. Xauusd:@2341-2345 Sell, TP:2336 Profit: + $8609
Today in gold trading, I relied on the resistance area of 2340-2345 to short gold many times, and hit my expected target positions of 2328 and 2336 respectively.As of today, I have made more than FWB:12K in short-selling transactions and successfully won 9 consecutive victories.
Judging from the current structure of gold, the recent lows of gold have continued to move downwards, and the short-term rebound has been blocked. Gold has been under heavy selling pressure near the upper trend line.Even with the help of news support in the short term, it was difficult to finally reach the previous wave high point of 2347. Compared with the previous rebound amplitude and intensity, it will obviously be much weaker now.
Therefore, even if gold is testing the 2350 mark again in the short term, if gold does not retrace to test support to confirm that gold continues its upward trend, then gold may fall back again after touching the 2350-2355 area. Therefore, in gold trading, you can try to short gold near 2350 in small batches, TP: 2342-2340.
I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
2340 Short gold to count money, continue to short goldDear friends, this morning we shorted gold at 2340, and successfully touched TP: 2328. This was our first win of the day and a huge profit!
According to the current trend of gold, as gold fell below the rising trend line several times yesterday, the momentum of gold bulls has gradually declined. Gold currently maintains a volatile downward trend in the short term. On a technical level, candle lines continue to test lows and are suppressed by short-term moving averages. Even after touching support, the rebound strength is much weaker than before. Therefore, relatively speaking, in the short term, I still focus on shorting gold on rallies.
On the whole, gold has been oscillating back and forth within a large range recently, with no real unilateral trend. Therefore, even if I focus on shorting gold on rallies in gold trading, we must also pay attention to the trading rhythm.once you fail to accurately grasp the trading rhythm, it is easy to suffer losses in long and short transactions. At present, we focus on the resistance area of 2340-2345 at the top and the support area at 2320-2315 at the bottom.
I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Already made nearly 6K profits! Continue to short goldToday’s gold trading conditions are as follows:
1.Xauusd:@2348-2350 Sell, TP:2338 Profit: + $1659
2.Xauusd:@2322-2320 Buy, TP:2335 Profit: + $4179
Around the time when the CPI data was released today, we shorted gold in the 2348-2350 area. After gold hit TP: 2338, I went long gold again in the 2322-2320 area, and gold hit TP again: 2335. Because CPI data will intensify market fluctuations, I used small-scale transactions, so the profit so far is only $5838.
Gold has made a sharp correction due to the influence of CPI data, and gold has also fallen below the upward trend line many times during the correction, with the lowest touching below 2319. Although gold was able to quickly recover some of its losses after falling, it was obviously much weaker than before during its recovery, and it did not touch the previous high area of 2360-2365 again.
Therefore, according to the current market rhythm, if gold falls below the rising trend line, it has destroyed the overall rising pattern to a certain extent, and gold will gradually weaken from strength to strength. Therefore, in the following main trading rhythm, I will prefer to short gold on rallies; of course, when encountering a strong support structure, I can also flexibly go long gold to strive for rebound profits! At present, the top focus is on the 2350-2355 resistance area, while the bottom focus is on the 2316-2314 support area.
I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Already profited over $11K, continue to short gold at high levelToday’s gold trading conditions are as follows:
1.Xauusd:@2358-2360 Sell, TP:2347 Profit: + $6618
2.Xauusd:@2364-2366 Sell, TP:2347 Profit: + $8615
3.Xauusd:@2338-2340 Sell, SL:2347 Loss: - $3973
The trading profit so far today is: $11,260. Gold hit a new high today again, hitting a maximum of around 2,365. Gold still maintains a strong upward trend. But in actual trading, I will not easily chase gold above the 2360 level. Because gold is currently in a dangerous position, even if I am bullish on gold, I will not easily pursue long gold during the operation. On the contrary, I will continue to look for high levels to appropriately short gold.
In fact, as long as you are careful, it is not difficult to find that during the strong rise of gold, gold will still sweep back and forth in a wide range in the short term. Although it will add a lot of difficulty to our transactions, it also shows that in fact, proper participation in short transactions will still make good profits . So in order to prevent the market from falling due to accelerated shipments of long positions, I will look for more suitable opportunities to short gold.
At present, gold has rebounded to above the 2360 position again. I have tried to participate in shorting gold again. I hope that gold can fall back as scheduled, allowing us to obtain more profits. I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Net profit this week is $35K, profit target next week is $50-60kDear friends, overall this week's trading situation is not very good, but it is not terrible either. Because my expectations for NFP were too high, I failed in the transaction, resulting in a significant reduction in our profits this week, with a net profit of $35K this week. No matter what, we can only bring our experience and lessons to strive for better results in the next week's trading!
At present, gold still maintains a strong upward trend and maintains a bullish tone. After the 2300 position stabilized, there were no technical reference indicators above, and there were no technical bottlenecks. Therefore, it is difficult to say that gold has peaked until the top identification line comes out. Technically, we can only assume that 2350 and 2400 are currently important resistance areas, and the retracement support below is in the 2305-2300 area.
From the current point of view, because the market's bullish sentiment and follow-up sentiment are high, they have combined to support the sharp rise of gold. Therefore, technically speaking, gold is technically overbought, and it seems that gold may need a certain degree of correction to repair the divergence indicator. However, according to the current strong trend of gold, gold is unlikely to fall sharply, so gold is most likely to digest it in a high-level shock manner.
Therefore, for short-term trading, both long and short sides have profit opportunities. As for the main trading rhythm, the bullish trend is mainly continued and long on dips. The specific operations still need to be adjusted according to market fluctuations. Regarding the overall trend of gold, I expect gold to follow the C pattern model.
I will share detailed trading ideas and trading signals every day to help everyone grasp the rhythm of market trading. If you are currently losing money, I am confident that I can help you turn losses into profits in a short period of time; if you are currently making profits, I am more capable of helping you increase profits. If you want to seize more trading opportunities and profits, you can follow the channel at the bottom of the article to get detailed trading signals and trading strategies in the first time.