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PEPPERSTONE:XAUAUDShort
by Thief_Trader
The opportunity to break 2500 has arrived Last Friday's market was actually quite dull. Even with the support of retail data, I am not very interested in this data. I have never seen how much volatility it can cause to gold since I started the industry. In the end, it was only a high of 2577 and a low of 63. This volatility is not as good as the rapid decline of 2554. It is really embarrassing. It is obviously the market of Black Friday, but there has been no performance for two weeks. I have been looking forward to it in vain. The main reason is that I want to make another market with a drop of 40 US dollars on the same day. There is no way. I can't stop looking down just because there is no volatility, right? Just start again this week. And I am not surprised at all by the performance of the opening gap. The market has been like this in recent weeks. It's nothing more than the difference in the size of the gap. Everyone knows the reason. Whether it is the market sensitivity after the election or the reaction after the interest rate cut, it is normal to jump. Fortunately, the gap is not big today. Although the volatility is large, it will not be very extreme. Generally, when there is a jump market, I will tell you a few trading rules. This is my summary of many years of experience. The bigger the gap, the faster the market fluctuates. Don't rush to see the gap filling, because you don't know whether it will rise or fall first. The most stable way is to wait for the first fluctuation. Take this gap as an example. It is strictly forbidden to go short directly to see the gap filling at the first time, because you don't know the first wave of action. If it really fills up the first time, then you can go long at the low point after the filling. On the contrary, it rebounds upward at the first time, then you look for high point pressure to see it fill the decline. Not to mention that this approach is 100% correct, but I usually operate the transaction in this way when facing a gap. The characteristic of the gap market is that the initial fluctuation speed and amplitude are large. Don't make any chasing orders, let alone think that you will miss something. Moreover, if the first wave of gold fills down or falls a little, it is likely to rebound upwards, which is not friendly to my bearish perspective. On the contrary, the first upward movement is what makes me happy. I have already made a short order near 92, just to see it fill the gap 2565 later. At least 30 US dollars of space can be taken. Moreover, after the gap is filled, it is not impossible to look lower, but this should be the US market or tomorrow. It is known that the support of the low point of gold fluctuation is near 2555. I also need to see whether gold will spit back to this position. What needs to be determined now is whether gold will start to adjust upward or turn to the adjustment downward mode. This is the only controversy in the market and the focus of long and short trading this week. What can be determined is that the last wave of emotional selling from 2790 to 2536 has ended. Will the second wave of adjustment of more than 250 US dollars occur? Where will it happen? How low can it fall after it happens? I emphasize again that 2790 to 2536 is the same wave of decline, because the speed and scale are almost the same, there is no need to separate the decline of more than 200 US dollars. I originally thought that the bottom this time would be the same as the last time at 2590. Note that the sideways fluctuation at the upper end of the triangle below is the same as the rhythm of last Friday. The tail did not touch the previous low of 2643, and it has already started a weak decline. This is why I will go short near 2570 on Friday. The bifurcation line also has the pressure guidance of this point, and it has not touched the top and bottom conversion position of 2590. Then let's see the continued decline. It has been falling for a week, right? You want me to see a big reversal on the last day, that's impossible. The direct surge in the morning was a bit unexpected to me, but it is not unacceptable, because the overall downward structure is still there, that is, the equidistant channel. I told members before that if there is a rise and pullback, we can still seek another high-altitude opportunity below 2600. Don’t you all dislike the feeling of being bearish at low levels? If this is the case, you will have the opportunity to trade at a high altitude. Look, it is here, perfect. The previous top and bottom conversion position is 92. It is possible to do it without saying much. Secondly, there is a retracement of 2602 above. The cost performance of bearish trading is very high. At the same time, you can also see the gap filling 2565 at the first time. Of course, since it can fluctuate at the bottom of the cycle, the possibility of bottoming out cannot be ruled out. This is something that bulls need to study and recognize. I will not describe it too much here. Your trading position must be firm. And confirm that the upward position of gold adjustment is 2620 and 2643 above. I will naturally deal with it at that time. I don’t know what kind of falling pattern it will be if it really falls again this time. Its journey will definitely not be smooth sailing according to conventional fluctuations. For example, 2555 or 2530 below are also prices that need to be challenged. Whether it is repeated or oscillating, as long as it goes down, I will definitely catch this wave of market. You can also see the price after the deep break, which is probably around 2480.
TVC:GOLDShort
by Yuliya1l11
3
GBPUSD analysis week 47🌐Fundamental Analysis UK employment figures largely beat expectations, but wage growth fueled inflation concerns. While jobless claims were lower than forecast, the number of people claiming unemployment benefits still rose from the previous month's revised figure. The Bank of England's (BoE) latest Monetary Policy Report is due out on Wednesday morning, and investors will be looking for hints on how the BoE plans to deal with the unbalanced UK economy that continues to struggle with inflation numbers. On the US side, key CPI inflation figures are due to hit the market. Headline CPI inflation is expected to have edged higher to 2.6% year-on-year from September's 2.4%. Core CPI inflation is expected to have held steady at 3.3% year-on-year. The monthly figures for both inflation are generally expected to remain unchanged from the previous month. 🕯Technical Analysis The downtrend is still showing no signs of stopping for GBPUSD. The next important support zone that the pair is aiming for is 1.2470, which is the old bottom area that saw strong price reaction from buyers in May. Besides, the possibility that the pair will still stick to the trendline and fall to this support zone, when the buying force is strong enough to break the trendline, the market will also turn around. Hopefully, the bullish waves can break the trendline and form an uptrend towards the resistance of 1.271-1.277-1.286. 📉📈Trading signals BUY GBPUSD 1.247-1.245 Stoploss 1.243 SELL GBPUSD 1.271-1.273 Stoploss 1.276
by TVS-Trader
Gold prices have experienced significant fluctuations from 1998 Gold prices have experienced significant fluctuations from 1998 to 2024, influenced by various economic, geopolitical, and market factors. 1. Continuous Rise (1998 to Mid-2012) Economic Uncertainties: The late 1990s and early 2000s witnessed financial crises, including the Asian financial crisis (1997) and the dot-com bubble burst (2000), leading investors to seek safe-haven assets like gold. 2008 Financial Crisis: The global financial meltdown led to unprecedented monetary policies, such as quantitative easing, which increased money supply and raised inflation concerns, boosting gold's appeal. Currency Fluctuations: A weakening U.S. dollar during this period made gold more attractive to investors holding other currencies, contributing to its price increase. Geopolitical Tensions: Events like the Iraq War (2003) and the European sovereign debt crisis (2010-2012) heightened geopolitical risks, prompting investors to turn to gold as a safe-haven asset. 2. Decline and Stabilization (Mid-2012 to 2020) Monetary Policy Shifts: The Federal Reserve's tapering of quantitative easing in 2013 signaled a move towards monetary policy normalization, strengthening the U.S. dollar and reducing gold's appeal. Reduced Inflation Fears: Lower inflation rates during this period diminished gold's attractiveness as an inflation hedge. Improved Economic Conditions: Recovery in global economies and stock markets led investors to shift towards higher-yielding assets, decreasing demand for gold. 3. Sudden Rise (2020 to 2021) COVID-19 Pandemic: The pandemic induced economic uncertainty, leading to massive fiscal and monetary stimulus measures, which raised inflation concerns and boosted gold prices. Record Low Interest Rates: Central banks worldwide slashed interest rates to support economies, reducing the opportunity cost of holding non-yielding assets like gold. Safe-Haven Demand: Investors flocked to gold amid fears of prolonged economic downturns and market volatility. 4. Stabilization and Recent Rise (2021 to 2024) Economic Recovery: Post-pandemic recovery led to stabilization in gold prices as investors balanced optimism with lingering uncertainties. Inflation Concerns: Persistent inflationary pressures in 2023 and 2024 renewed interest in gold as a hedge against rising prices. Geopolitical Tensions: Ongoing geopolitical issues, such as the Russia-Ukraine conflict and U.S.-China trade tensions, have sustained gold's appeal as a safe-haven asset. Expected Price Movement for Gold Until 2030 Based on historical patterns and economic conditions, the outlook for gold prices until 2030. (Note that these projections are speculative and depend on various global factors). 1. Short-Term (2024-2025) Expected Range: $2,400 to $2,700 per ounce. Reasons: Persistent inflation concerns globally, especially in the U.S. and Europe. Geopolitical risks like the Russia-Ukraine conflict, Middle East tensions, and potential escalations in Asia-Pacific. Central banks, particularly in emerging markets, are likely to increase gold reserves, sustaining demand. Slower economic growth in major economies (e.g., U.S., China) could drive gold as a safe haven. 2. Mid-Term (2025-2027) Expected Range: $2,700 to $3,000 per ounce. Reasons: As the global economy slows and fiscal policies tighten, gold demand may increase as a hedge against economic instability. U.S. debt concerns might weigh on the U.S. dollar, driving gold prices higher. A potential return to low interest rates due to recession fears would reduce the opportunity cost of holding gold. Growing demand from central banks in emerging economies like India, China, and Brazil will sustain upward momentum. 3. Long-Term (2028-2030) Expected Range: $3,000 to $3,500 per ounce. Reasons: Increased global adoption of de-dollarization policies (e.g., BRICS countries moving away from USD-based trade) could further weaken the dollar, boosting gold. Environmental and mining constraints could limit gold supply, pushing prices higher. Technological developments may create new industrial demand for gold in fields like electronics or renewable energy. Geopolitical risks and changing global power dynamics might elevate gold as a strategic reserve.
PEPPERSTONE:XAUUSDLong
by Mohamed_Kabesh
2
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between two weighted levels with a gap above at 2574 and a gap below at 2551. We will need to see ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2574 EMA5 CROSS AND LOCK ABOVE 2574 WILL OPEN THE FOLLOWING BULLISH TARGET 2599 EMA5 CROSS AND LOCK ABOVE 2599 WILL OPEN THE FOLLOWING BULLISH TARGET 2622 BEARISH TARGETS 2551 EMA5 CROSS AND LOCK BELOW 2551 WILL OPEN THE FOLLOWING BEARISH TARGET 2525 EMA5 CROSS AND LOCK BELOW 2525 WILL OPEN THE SWING RANGE 2638 SWING RANGE 2506 - 2484 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
13
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price lay between two weighted levels with a gap above at 2570 and a gap below at 2519, as weighted Goldturns and will need ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2570 EMA5 CROSS AND LOCK ABOVE 2570 WILL OPEN THE FOLLOWING BULLISH TARGET 2611 EMA5 CROSS AND LOCK ABOVE 2611 WILL OPEN THE FOLLOWING BULLISH TARGET 2654 EMA5 CROSS AND LOCK ABOVE 2654 WILL OPEN THE FOLLOWING BULLISH TARGET 2694 BEARISH TARGETS 2519 EMA5 CROSS AND LOCK BELOW 2519 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2487 - 2450 EMA5 CROSS AND LOCK BELOW 2450 WILL OPEN THE SWING RANGE SWING RANGE 2411 - 2368 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
5
Gold Consolidation: Key Breakout Levels to Watch for Next WeekGold is consolidating around key levels on the 15-minute chart, with recent buy and sell signals indicating potential for a breakout. Traders should watch for a bullish breakout above 2,568.94 for a buy opportunity, targeting levels like 2,580 and 2,600. Conversely, a bearish breakdown below 2,563.78 could signal a sell, with targets around 2,550 and 2,540. Monitor moving average crossovers and external economic events to confirm trend direction.
TVC:GOLDShort
by TradeTrendsPro
Gold XAUUSD How Long This Correction Will Continue! Read CaptionOANDA:XAUUSD forms a retreat and tests 2577 following a fake breakdown of 2546. After such a severe fall, it is a very reasonable response. The dollar is growing more quickly, and the fundamental context is still negative. China's ambiguous economic figures heightened economic worries. Powell stated that there is no need to lower interest rates right now because the economy is still expanding, the job market is strong, and inflation is still above the 2% target, but this uncertainty regarding future rate reduction by the US Federal Reserve is still weighing on the markets. Now, everyone's eyes are on the crucial retail sales data. Technically, it is important to watch the resistance at 2589 and the 0.5-0.7 fibo. Below these areas, a false breakdown and consolidation could lead to a collapse. Resistance levels: 2578, 2592, 2604. Support levels: 2543, 2532, 2504 Key : 2565 OANDA:XAUUSD Gold is currently indicating that the pullback up might be a little drawn out. Before the news, MM will probably aim for liquidity (above these levels). Bears may become active in response to a false breakout, which would only boost sales. However, the likelihood of a breakdown and decline will rise if there is a bounce from 0.5 fibo and a smooth recovery to 2546.
FX:XAUUSDShort
by GoldMasterTrades
Gold ushered in continued decline Yesterday, the gold price fluctuated around the 2560 dollar mark. Is a drop important or not? The current range of gold is still 2580-2535. 2580 is also the watershed of strength and weakness. At the same time, if it falls below 2535, the probability of gold falling to 2500 will increase; if it breaks through 2580 and stabilizes, the probability of gold retesting the pressure will increase. Therefore, the general direction today can only look at this range for the time being. Today, the gold price still has the risk of continuing to fall. "Bottom fishing" seems to have become a derogatory term in the market. Any currency has lost this function. Short selling has become the only choice and the best direction. If gold loses the support of 2535, it will fall by another 50 US dollars. Today's high and low point area has become the key to the long-short game. Gold point: 2568-70 short orders continue to be held in the early trading. Those who have not entered the market can enter the market directly if the rebound does not break 2565. Let's look at the decline today! The target is the 2543-2535 line!
OANDA:XAUUSDShort
by Yuliya1l11
Gold Update (Elliott Wave Analysis)Gold’s been in a downtrend since late October, wrapping up Elliot Wave 5. But here’s the kicker: on the 4H chart, we’re spotting a possible inverse Elliot wave cycle. 📉 We’re nearing the end of this correction phase and gearing up for a bullish breakout! 🚀 Currently, we’re trading in a robust Daily demand zone, eyeing a reversal that could kickstart a fresh Elliot cycle. Targeting the supply zone at $2762-$2790. 📈 Plan: Enter at the end of Wave 2 to ride Wave 3 and hold until Wave 5 wraps up, with a trailing stop loss to lock in those gains. 🤑 Get ready to ride the wave! 🌊💰
OANDA:XAUUSDLong
by MESHANL
Dollar's Rise, Gold's Demise◉ Abstract The US Dollar Index (DXY) and gold prices have a historically inverse correlation, with a stronger dollar typically reducing gold demand. Key drivers of this relationship include inflation, geopolitical tensions, and interest rates. With a 73-95% negative correlation observed over time, investors should note the current market outlook: the DXY is poised to break out above 107, potentially surging to 114, while gold prices may drop 5% to 2,400 and then 2,300. Understanding this dynamic is crucial for making informed investment decisions and capitalizing on potential trading opportunities. ◉ Introduction The relationship between the U.S. Dollar Index (DXY) and gold prices is significant and typically characterized by an inverse correlation. Understanding this relationship is crucial for investors and traders in the gold market. ◉ U.S. Dollar Index Overview The U.S. Dollar Index measures the value of the U.S. dollar against a basket of six major foreign currencies, including the euro, Japanese yen, and British pound. It serves as an indicator of the dollar's strength or weakness in global markets. When the index rises, it indicates that the dollar is gaining value relative to these currencies, while a decline suggests a weakening dollar. ◉ Inverse Relationship with Gold Prices Gold is priced in U.S. dollars on international markets, which directly influences its price based on fluctuations in the dollar's value: ● Strengthening Dollar: When the DXY index increases, it generally leads to a decrease in gold prices. This occurs because a stronger dollar makes gold more expensive for investors using other currencies, thereby reducing demand. ● Weakening Dollar: Conversely, when the DXY index falls, gold prices tend to rise. A weaker dollar makes gold cheaper for foreign investors, increasing its demand and driving up prices. Research indicates that this inverse relationship has been consistent over time, particularly in long-term trends. For instance, historical data shows that gold prices often rise when the dollar depreciates, reflecting a negative correlation of approximately 73% to 95% over various time intervals. ◉ Short-Term Deviations While the long-term trend supports this inverse relationship, short-term anomalies can occur under specific market conditions. For example, during periods of extreme volatility or economic uncertainty, gold and the dollar may exhibit a positive correlation temporarily as both assets are sought after as safe havens. This behaviour can confuse investors who expect the typical inverse relationship to hold. ◉ Additional Influencing Factors Several other factors also affect gold prices beyond the dollar's strength: ● Inflation: Rising inflation often leads investors to flock to gold as a hedge against currency devaluation. ➖ E.g. In 2022, as inflation rates surged to 9.1%, demand for gold increased by 12% year-over-year, pushing prices higher. Historical data shows that during periods of high inflation from 1974 to 2008, gold prices rose by an average of 14.9% annually. ● Geopolitical Events: Uncertainty from geopolitical tensions can drive demand for gold regardless of dollar fluctuations. ➖ E.g. In late 2023, escalating conflicts such as the Israel-Palestine situation and the ongoing Russia-Ukraine war contributed to a surge in gold prices, with reports indicating increases of over 3% in a week due to these tensions ● Interest Rates: When the Fed raises interest rates, it typically strengthens the dollar as higher yields attract foreign capital. A stronger dollar makes gold more expensive for holders of other currencies, which can reduce demand. ➖ E.g. During the Federal Reserve's rate hikes from March 2022 to early 2023, many investors moved away from gold as they sought higher returns from bonds and other fixed-income securities. This shift contributed to downward pressure on gold prices during that period. ◉ Technical Standings ● U.S. Dollar Index TVC:DXY The US Dollar Index has been stuck in neutral for two years. But if it clears the 107 hurdle, get ready for a surge to 114. ● Gold Spot/USD OANDA:XAUUSD ➖ Gold prices skyrocketed to 2,790, then plunged. Expect a 5% drop to 2,400. If that support cracks, 2,300 is the next safety net.
TVC:DXYEducation
by NaranjCapital
Gold Price Action Analysis with Moving Averages and Dynamic Brea Trend Outlook: Gold is in a bearish trend as shown by the consistent downward movement of the long-term moving average. Trade Signals: Recent "Sell" signals confirm bearish sentiment, as every upward attempt is met with resistance and price resumes its decline. Traders could consider short positions, especially around moving average resistance or at "Sell" signals until a clear reversal is observed. Support Levels: Watch for key support levels near the recent lows. If broken, this could indicate further downside. Conclusion: Gold is currently bearish with potential shorting opportunities at resistance levels. Re-evaluate the trend if the price begins to consistently break above the long-term moving average.
TVC:GOLDShort
by TradeTrendsPro
Gold Price Analysis For Next Move? Read CaptionOANDA:XAUUSD dropped from 2790 and currently trading on 2557 it will consolidate here from range of 2546-2557 and will make a rectangle pattern , once rectangle constructed it will breakout the rectangle and give the targets given in chart. Gold have just completed its Elliott 4th Wave in Day time frame and also completed 5th impulsive wave in short time from from H1 to 5min now, now it will do corrective move in short term and 5th impulsive move in high time frame
FX:XAUUSDLong
by GoldMasterTrades
3
GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAPHey Everyone, This is the monthly chart idea for our long term/range analysis, which we shared in September. We have now completed two bull targets and stated both months left a big detachment to ema5 which needed a well overdue correction. This monthly chart detachment is now complete, as highlighted by the circle on the chart. This now provided the support and bounce allowing us to buy dips inline with our plans. Our 1H and 4h Charts have completed all bearish targets and now broken through all support. However with the breakout below, each of our weighted levels gave the 30 to 40 pip bounces just like we said. This area is a strong level of support with ema5 providing dynamic support now for a bounce. Each of the lower Goldturn levels below are likely to give re-actional bounces just like our shorter time frame ideas. However, we will keep in mind the channel top that may require a support test and will use all support structures across all our multi time frame chart ideas to buy dips also keeping in mind our long term gap above. Short term we may look bearish but looking at the monthly chart allows you to see the bigger picture the overall long term Bullish trend. We will update our Multi timeframe route map with updated levels on Sunday. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
FOREXCOM:XAUUSD
by Goldviewfx
12
The Chart you probably wanna see. Gold's turn. Logic. No bs. So about the chart, if you want to move straight to it. Far right is a Gold-colour vertical line & that is Monday's trading of earlier this week. Then several green vertical zones, Tuesday, Wednesday and Thursday of this week. 2 Red horizontal lines above and below is the Gold trading range for this week. If you are wondering how big the Gold correction has been. You will see the Pink vertical line all time high to the bottom of this weeks trading range is about 9.85%. Pretty big huh. I really needed to work this out for myself, what I mean is where I think Gold will turn Does this sound like you? You are sitting in some rather massive Crypto profits, positions you have accumulated for several weeks to a even a month(s). Maybe you now have a few USD$ unrealised profits from the last week. If the above is not you and I'm guessing you are in a majority, because the vast-main of traders would not have 'the stomach' for being big-margined in money lent by brokers and to be effectively in-risk of millions of dollars in Crypto purchases and other trading assets perhaps like Gold and Currency, well like I am, but my Margin is never more than x20 (max. in Australia legally allowed). Trading is a Long-game, life-long hopefully, when you love it the same way I do. One of the best things I ever heard about trading, and its totally contradictory to what you probably hear and read from the so-called gurus, is that trading is about accumulating small-wins day in and day-out, bigger wins are fine, but consistent small wins. Not this B.S. you get fed that you can have 6 or 7 stopped-out trades, so long as you get that 1 outa 6 or 1 outa 9 wins. How is that good for your mindset. You have been fed garbage. That 1 winning trade will probably need to be a home-run, oh a home-run, which means taking on a risky means AFTER all those Stop-out trades. Small consistent wins, accumulate into profits for you and it reinforces a positive mindset. I once belonged to a trader pay subscription Signals trading group and this man who I won't name charged around 500 bucks a year, gave on average 6 currency trades a week, that is fine, but the problem was his win rate was something like 1 outa 5 and the 1 winner was a 1:1 RR. How do you profit from him? That UK man does not have to consistently beat the markets does he, because foolish and gullible traders line his pockets up every year in subscriptions. A fool and his money are soon parted, but we live and we learn sometimes I think. Wow, that got a bit deep. All I wanted to share is where I see the Gold price turning. Well about another 1% down from this weeks lowest low, we commence a support zone and said support zone on the Daily chart is situated beautifully between the 50EMA and 200EMA and importantly for Gold's trend to remain bullish the 200EMA is situated beneath price. Now, that said, I think the gas needs to come off the USD$ a bit right now, I don't think they want to overcook a dyeing currency, so if the economic data in the USA today is not favourable to the dollar, then a huge bullish rubber-band trade is back for Gold to the long side should emerge of up to 4% I feel if it really favours gold. If that is the case then we disregard my chart here of Daily Gold. Have a good day trading and make sure you properly breakdown the economic data first, so you have a clear understanding of Gold market direction. Don't simply buy or sell at a whim with your market maker in gold because all of the tricks and stunts they pull, and there is no accountability, they will probably initially set a Trap-long or a Trap-short throwing you to the wolves and then turn the market in the correct course. Oh, but push in on the gold market maker and make say $36 out of them in a trade they don't like or approve and they will make you give every dime back plus some. Which is why Im increasingly moving away from Gold trading to currency, indice and stocks.
CAPITALCOM:GOLD
by Easy_Explosive_Trading