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Gold bulls are brewing the next round of outbreak?Although the gold price yesterday did not reach the first line of 2010 that I expected, it reached the highest line of 2003, and it was only 7 US dollars away from the expected position of the first line of 2010.After gold surged to the 2003 line yesterday, it fell back in shock, and the market was gradually digesting the Fed's previous hints that it might suspend interest rate increases.But the market will continue to pay attention to whether the banking crisis spreads further.In addition, the increasingly tense geographical relations will also provide strong support for gold prices. Judging from the current trend of gold, the gold price has fluctuated and fallen. It can be seen that there are a lot of selling at the 2000 position, which also shows that there will still be repeated market washing near the 2000 position.From the technical structure point of view, the current short-term gold price is too fast, so there is still a need for correction in the short-term, so the technical structure supports the repeated washing of gold prices.But on the whole, the upward trend has not changed, so until the trend has not changed, we can continue to maintain a bullish thinking. In the short-term treatment, the top focuses on the pressure of the recent high of 2010, and the bottom focuses on the support near 1980. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
OANDA:XAUUSDLong
by Short-term-king
Safe-haven buying may push gold prices to new heightsDuring the Asian session on Monday (March 20), gold bottomed out and rebounded. It had previously fallen to around US 1,968.18 per ounce due to technical adjustment needs, and over the weekend the Federal Reserve and the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss Central Bank jointly took coordinated actions to enhance market liquidity. UBS agreed to acquire Credit Suisse, which once cooled risk aversion, but this optimism quickly subsided, and buying on dips helped gold prices reverse their decline, and they are currently trading near US 2,000/ounce. It is expected that gold prices will continue to be supported by safe-haven buying, and the market is also paying attention to the Fed's interest rate decision to be released this week. The market expects to raise interest rates by only 25 basis points. The wording is difficult to be hawkish. It may pave the way for the next meeting to suspend interest rate increases. The market expects the Fed to cut interest rates before July, which is also expected to provide opportunities for gold prices to rise further. Judging from the trend of gold, it is currently in a unilateral upward momentum. At present, the gold price has exceeded US 2,000/ounce, and the strong bulls have sufficient strength. In the absence of a greater weakening of the bulls, the short-term structure still maintains long expectations.If you change the bullish expectations of the bulls, it will require a greater reverse operation or obvious market news impact. Therefore, the short-term structure will still maintain the long-term expectations. Before there is a clear short signal, it is not easy to change the direction of the trend structure. In addition, the intraday chart shows that the weekly trend point is above the 5-day moving average of the daily cycle 1960. As long as it does not fall below the support of this point, don't think that gold can have room for a sharp decline.For the intraday market, gold did not continue the rise at the end of Friday at the opening of the market, but fell back and adjusted. The current lowest is near 1968. Since the decline is not strong, then in the short term, the 1968 line supports bullish, and can be adjusted upward appropriately. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
OANDA:XAUUSDLong
by Short-term-king
1
How to deal with being trapped in a short position for XAUUSD? Against the backdrop of continued safe-haven demand, XAUUSD has repeatedly broken through previous highs. Today, it attempted to establish a short position near 1940, but immediately chose to exit as soon as the market broke through the previous high, because new highs are sure to appear after breaking through previous high points. Sometimes a small loss is a gain for me. However, it is expected that many market participants have entered short positions and are currently trapped. In the short term, the market is expected to further rise, and the focus is on whether the United States will have relevant policies coming out over the weekend to stabilize the market's panic sentiment. If the safe-haven sentiment can dissipate, XAUUSD will certainly experience a wave of high-rise and fall trend. If you currently have a significant amount of trapped capital, you can leave me a message, and I will provide you with the most accurate strategy. At the same time, I will also share my personal operations for reference.
OANDA:XAUUSDLong
by FlashTrades_
13
What to Do When Shorting BTCUSDT is Trapped? As expected, due to the increasing risk aversion sentiment, BTCUSDT has continued to rise and has reached my second target of 27K, and the next target will be to push towards 30K. As previously emphasized, when the main force begins to push up, they will not provide very good entry opportunities, so any dip is an opportunity to follow the long position. 25K will be a short-term bottom. If you have friends who are shorting Bitcoin, I personally suggest closing the short position if the market has the opportunity to fall near 25K, and follow the trend to go long. If you have a lot of trapped funds at the moment, you can leave me a message and I will provide you with the most accurate solution. Similarly, if you missed my first layout at 23K, and second layout at 27K, do not miss the next layout at 30K. I will continue to update my personal operations, so please stay tuned, and hope you all can be winners!
Long
by FlashTrades_
8
Will the gold price continue to break through 1940 line upward?On March 16th, a large U.S. bank injected US 30 billion into First Republic Bank to rescue the bank from the widening crisis.Previously, Credit Suisse said it would borrow up to US554 billion from the Swiss National Bank to boost liquidity.The market's worries about the banking crisis in Europe and the United States have cooled, and the global stock market has generally risen. Investors need to beware of the short-term volatility and pullback of gold prices or even the risk of peaking. In addition, the European Central Bank still raised interest rates by 50 basis points on Thursday.It is expected that the Fed will raise interest rates by 25 basis points at the March policy meeting, which will be slightly bearish for gold prices in the short term.Of course, the current risk-averse sentiment in the market has not completely subsided, and there are still certain safe-haven funds still pouring into the gold market to provide support for gold prices. From the trend point of view, the top of the short-term gold level is basically all around 1930, and this position is firmly established.The 4-hour-level trend has continued to rise and fall. It is currently temporarily under pressure in the 1935 area. At present, there is a certain degree of deviation from the K-line and there are signs that it has begun to gradually fall below the short-term moving average, and it tends to be able to make a certain degree of adjustment in the short-term trend.On the hourly level, the current range compression is relatively small, and the technical pattern has also begun to gradually weaken, but the overall performance of gold is still relatively strong. At present, the overall range is wide in the 1900-1940 range. In the short term, pay attention to the support in the 1910 area, and pay attention to the resistance of 1935 above. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
OANDA:XAUUSDLong
by Short-term-king
3
Can we go long on XAUUSD? During the Asian session on Thursday, March 16th, XAUUSD is trading in a range near $1918.34/oz, while the Swiss regulatory authority has promised to provide liquidity assistance to Credit Suisse, the risk aversion sentiment remains persistent. Moreover, the market's expectations for the European Central Bank to raise interest rates by 50 basis points in the evening have decreased to 25 basis points or even keep the current interest rate unchanged. The market's expectations for the Federal Reserve to maintain interest rates next week have also increased, which is favorable for the future volatility of gold price. The ECB interest rate decision, news related to the Euro-American banking crisis, changes in initial jobless claims in the United States, and import price indices should be paid attention to on this trading day. Daily level: volatile rise; MACD golden cross and above the zero axis, the Bollinger Bands are opening up, and the gold price is expected to move up along the upper Bollinger line in the future. There is no obvious resistance level above the short-term reference of 1930 and near the overnight high of 1937.27; further strong resistance is at the high point of January 26th of 1949.06 and near the high point of February 2nd of 1959.57. If it breaks further, it may look towards the level of 2000. Personal trading strategy: Focus on buying on dips, following the trend, and avoiding the current risk aversion sentiment. Buy near 1910-1915 with a target of 1930-1950. I will update the strategy promptly in the future, please stay tuned.
OANDA:XAUUSDLong
by FlashTrades_
1
Gold continues to be bullish, falling back means going longThe bankruptcy of Silicon Valley Bank (SVB) triggered the U.S. banking crisis, and the negative news from Credit Suisse heightened concerns and risk aversion soared, which triggered a new round of gains in safe-haven assets such as gold.At present, the market is closely waiting for new clues about the banking crisis. The inflation data released recently showed that it was in line with expectations. It has been half a year since it fell from the highest 9.1% to 6%. The gap from the 2% target is still very large, showing strong stickiness.If the Fed continues to raise interest rates, the economy may have problems. If the SVB bankruptcy does not spread to the entire banking industry, the Fed has reason to continue to raise interest rates.There is still nearly a week between now and the Fed's announcement of the interest rate decision next week, which means that whether the financial pressure eases in the future will directly affect the outcome of the Fed's interest rate hike. After a short-term decline in the European market yesterday, gold quickly recovered, and the US market directly broke through the previous high, reaching the highest position of 1937.Our multi-orders near 1917 in the short-term operation yesterday very accurately captured this wave of strong market conditions. The resistance of 1950 USD is focused on the top, and the support of 1900 USD is focused on the bottom.On the daily chart, various technical indicators are clearly showing an upward trend.On the technical side, the Dayang upside on Monday matched the Dayang breakthrough at the close of last week. In fact, the long trend was established. Although there was a small yin at the top in the market on Tuesday, it was more of a technical adjustment here. Then in the conversion of the time node on Wednesday, the market re-pulled higher out of the sun, re-establishing the long trend and verifying that Tuesday belonged to the market adjustment. For the future market, we can continue to maintain a long trend response. The target of the daily price level can pay attention to the arrival situation near 1960 in the early stage to make an expectation. In the short term, after yesterday's US market and the continuation of the early intraday trading, it basically came to the bottleneck of stepping back. Intervention can pay attention to 1910 and below, support can pay attention to the 1900 mark, and focus more on the recovery of the upper space.
FX:XAUUSDLong
by Short-term-king
2
Gold fell below 1900, and the decline is about to begin?At present, gold prices are slightly lower. Because the February CPI data released overnight in the United States showed that the annual core inflation rate still far exceeded the Fed's 2% target, the dollar index stopped falling and rebounded, suppressing the rise in gold prices.It is expected that the Fed will continue to raise interest rates next week and in May, with the benchmark interest rate increasing by 25 basis points each, because the report released overnight showed that the annual core inflation rate in the United States in February was still as high as 5.5%, and concerns about the long-standing banking crisis have eased.Therefore, gold's short-term upward momentum is insufficient, and the short-term short-term recovery indicates that gold may at least partially take back the gains made in the context of systemic risk panic. The rebound in U.S. bank stocks has cooled the market's risk aversion to a certain extent. From the perspective of gold's trend, gold has also recovered in a short period of time, but the main structure is still high and volatile. On March 14th, the daily line finally closed at a high level and a small negative line. Gold is technically already seriously overbought, but considering that the current market rise is mainly caused by the buying of risk aversion, and the short-term market risk aversion does not cool down, then gold may still continue to be consumed at a high level, and it is not easy to make significant adjustments.This kind of high volatility may consume more time, gather fundamentals, and may even extend the high volatility until the Fed's interest rate decision next week. In the short term, it is currently hindered by the actual suppression of the 1910 mark. If the upper space needs to be further opened, then it needs to actually stabilize above the 1910 mark to have further opportunities. As for the lower defensive thinking, as long as you hold on to the rise of 1870 this week, the bulls will succeed. In the short term, the trend of gold will still be dominated by market sentiment, and it may not be so concerned about the demand for technical trends.At present, it is difficult to predict and control the fundamentals. At present, the focus of the market is on how to deal with the bankruptcy of US banks, and this issue ultimately comes down to how to adjust the Fed's interest rate hike policy.In addition, the United States will announce retail sales and producer price indexes later in the day.Before the FOMC meeting on March 22, it will become important to observe whether U.S. retail sales data indicate any consumer downturn.
FX:XAUUSDLong
by Short-term-king
2
The gold bulls are weak, and the bears are about to strike?The data released that the annual CPI rate in the United States in February was in line with the expected value of 6%, down 0.4 percentage points from the previous value; the annual core CPI rate in the United States in February was in line with the expected value of 5.50%, lower than the previous value of 5.60%. The inflation data is in line with expectations, indicating that the market generally expects the Fed to continue to raise interest rates by 25 basis points in March and will not increase interest rates again.But overall, inflation has not fallen sharply, and this is not a strong data.Obviously, what the Fed has to consider now is financial stability. At present, for the gold market, the Fed's policy outlook is divided in the market. On the one hand, the banking crisis may cause the Fed to slow down the pace of interest rate increases; on the other hand, the Fed is facing a severe inflation state, and it is still far from the 2% target. Raising interest rates is still the best way to reduce inflation.From the long-term perspective, the current banking crisis is only short-lived, and it is still difficult for the crisis to spread. Raising interest rates is still the best choice for the market to suppress inflation. In terms of gold's trend, judging from the daily line, gold prices have been on the rise since March 8, and there has been no decent adjustment; in the past two days, gold has risen from a strong position on the 1870 line to the 1900 line and hit the 1914 line. At present, the US index has stopped the decline, and the gold rally has been blocked.To a certain extent, there is a gradual peaking rhythm, and I am optimistic that there will be a wave of effective adjustments in the near future. At present, the short-term support below 1896-1900 is the defensive line of the bulls, and once it breaks down, it will open up the downward space again. Why do you frequently lose money when you invest in foreign exchange? One: Counter-market operation: If you don't respect and fear the market, you will be overwhelmed by the market if you operate completely against the trend. Second: Do not set a stop loss: Stop loss is a necessary means to control risk, and not setting a stop loss is tantamount to throwing away the money directly. Third: Frequent operations: There is no trading plan, casual trading and frequent multiple transactions greatly increase the probability of loss. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me.
FX:XAUUSDShort
by Short-term-king
7
Can the price of gold continue to rise?After the California banking regulator closed Silicon Valley Bank (SVB), the price of gold rose 2% on March 10.On March 11, the state regulator also closed Signature Bank, which is headquartered in New York.Due to market concerns about the stability of the banking system, the dollar fell sharply, which pushed gold prices higher in the short term. In addition, with the outbreak of a crisis in the U.S. banking industry, expectations of the Fed's interest rate hike have cooled, and Goldman Sachs even expects that the Fed will not raise interest rates in March, which will limit the rise of the dollar and boost gold. Although the Silicon Valley Bank incident, the U.S. Treasury Department has taken steps to ensure the safety of all depositors' funds, helping to ease the panic in the market.However, in essence, the U.S. Treasury Department's actions have not broken the rigid redemption, which is not conducive to market clearance, or will bury more hidden dangers. Therefore, in the short term, the crisis of trust and run crisis caused by this banking crisis may continue to ferment.The current market's lack of confidence in the US dollar and the cooling of expectations of the Fed's aggressive pace of interest rate increases will also support gold to continue to rise. At the same time, whether gold prices can continue to maintain an upward state still needs to be observed in the data, especially the specific situation of the US CPI data for February. From the technical point of view, the gold price forms a W-bottom pattern structure on the 4-hour level chart, which helps to support the upward movement of the gold price. Although the current weakening of the upward momentum has led to a decline in the gold price, as long as it does not fall below the 1870 line, gold still has the opportunity to touch the 1900 or even the 1920 line upwards.
FX:XAUUSDLong
by Blessed_V
judgment of technical indicators and application skills1. Simple judgment of support and resistance: Support and resistance levels are the points in the chart that are subjected to continuous upward or downward pressure.The support level is usually the lowest point in all chart patterns (hourly, weekly, or annual), while the resistance level is the highest point (peak)in the chart.When these points show a downward trend, they are recognized as support and resistance.The best time to buy/sell is near the support/resistance level that is not easy to break.Once these levels are broken, they tend to become reverse obstacles.Therefore, in an uptrend market, the broken resistance level may become support for the upward trend; however, in a downtrend market, once the support level is broken, it will turn into resistance. 2. Understanding of lines and channels: Trend lines are a simple and practical tool in identifying the direction of market trends.The upward straight line is formed by at least two consecutive low points connected.Naturally, the second point must be higher than the first point.The extension of a straight line helps determine the path along which the market will move.Upward trend is a specific method used to identify support lines/levels.On the contrary, the downward line is drawn by connecting two or more points.The variability of trading lines is to some extent related to the number of connection points.However, it is worth mentioning that each point does not have to be too close.A channel is defined as an upward trend line parallel to the corresponding downward trend line.Two lines can represent price upward, downward, or horizontal corridors.The common attribute of a channel that supports the connection point of a trend line should be between the two connection points of its reverse line. 3. Understanding and understanding of the average line: If you believe in the creed of "trend is your friend" in technical analysis, then the moving average will benefit you a lot.The moving average shows the average price at a specific time in a specific period.They are called "moves" because they are measured at the same time and reflect the latest average. One of the shortcomings of moving averages is that they lag behind the market, so they are not necessarily a sign of a trend shift.To solve this problem, using a shorter period moving average of 5 or 10 days will better reflect recent price movements than a 40 or 200-day moving average.Alternatively, the moving average can also be used by combining two average lines of different time spans.Regardless of the use of 5 and 10-day moving averages, or 40- and 200-day moving averages, buy signals are usually detected when the shorter-term average crosses the longer-term average upward.In contrast, a sell signal will be prompted when the shorter-term average crosses the longer-term average downwards. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
FX:XAUUSDEducation
by Blessed_V
XAUUSD:what will be the final direction? Compared with his testimony in the Senate on Tuesday, Powell's speech in the House on Wednesday was milder, causing the US dollar to undergo a short-term correction and giving the gold price an opportunity to stabilize near 1800. In his testimony on Tuesday, Powell's remark that "the Fed is prepared to accelerate the pace of interest rate hikes, and terminal rates may be higher than previously expected," stimulated expectations of rate hikes to reach new highs, with the expected terminal rate exceeding 5.7%. As a result, the US dollar index soared, and the gold price plummeted more than 30 dollars per ounce that day. However, in last night's testimony in the House, Powell's speech was slightly milder. He emphasized that no decision has been made regarding the pace of rate hikes and reiterated that the Fed will be data-dependent. This cooled the prospect of rate hikes slightly, causing the US dollar index to pause its uptrend and gold prices to stop falling and rebound slightly, rising 0.35% intraday as of now. However, it should be noted that although the market has cooled down on the prospect of Fed rate hikes in the past 24 hours, the cooling is not significant. According to the CME FedWatch tool, the market currently expects a 50 basis point rate hike at the March meeting with a probability of 76.4%, slightly lower than 78.6% one day ago. At the same time, the market's expectation for the Fed's terminal rate remains above 5.7%, with almost no signs of cooling compared to one day ago. In the case of high expectations for rate hikes, the short-term decline in the US dollar index may not last long, which means that although the gold price may rebound and correct slightly, it is unlikely to evolve into an upward trend. Technically, attention should be paid to the support role of the 105-105.30 area for the US dollar index. If this area holds firm and resumes an uptrend, it will bring the risk of gold price breaking below 1800. In the short term, gold remains in a volatile range, with a resistance level of 1825-1830. If the price reaches this level, consider entering a short position with a small position. The downside target is 1810-1800. If the price breaks below 1800, the downside will be further opened up. Pay attention to the non-farm data to be released on Friday, which will provide some guidance for the future market. I have in-depth research on futures products such as cryptocurrency, forex, stocks, gold, and crude oil, and I also update some daily operational layouts. Thank you for your attention and likes. Friends with questions can leave me a message in time, and I will give the most secure advice. Hope it can help you.
FX:XAUUSDShort
by FlashTrades_
After the gold plunge,how to accurately grasp the gold operationMessage surface: Federal Reserve Chairman Powell was unexpectedly very hawkish when he testified on the semi-annual monetary policy report on Tuesday. He said that after raising interest rates at a faster pace, future interest rate expectations may be higher.This caused the market's expectations of the Federal Reserve raising interest rates by 50 basis points in March to quickly heat up, and triggered a full-scale rebound in the dollar, which suppressed gold prices to the weakest level in four trading days at 1813. In addition, investors also need to pay attention to the US “small non-farm payrolls” APD employment data this trading day. The market expects ADP employment to increase by 200,000 in February, compared with the previous value of 106,000. This expectation is biased towards bearish gold prices; In addition, this trading day also needs to pay attention to the speech of Richmond Fed Chairman Barkin and the semi-annual monetary policy testimony delivered by Fed Chairman Powell to the House Financial Services Committee. Powell's speech is estimated to be much the same as Tuesday, but if Barkin's speech further strengthens the expectation of raising interest rates by 50 basis points in March, it may further suppress gold prices. Technical aspects: Gold was physically saturated with the big negative line yesterday, and it continued to fall below the 5-, 10-, and 20-day moving average, and the gold price fell below multiple key support levels. It is currently trading at the 1814 line. This state is enough to change the previous pattern of strong rebound.At present, both technically and the market's expectations of future fundamentals, gold bulls will not get any advantage, and the overall market sentiment will turn short again. The lack of any rebound in the market is enough to show that the current market short sentiment is very heavy. At present, the bulls can't see a little bit of rebound power, and there is too much room for a short-term decline last night, so don't chase the short-term for the time being. At present, the market is in a weak correction transition. I look forward to a certain technical rebound in the market. Take advantage of the rebound and then consider short-term participation. During the day, you can first pay attention to the first rebound after the overnight fall. The small high is near 1823, and continue to pay attention to the 1810-1805 support area below. Operationally: You can participate in empty orders when you rebound to near 1823, the expected target: 1810-1805; you can try to go long in small batches when you step back to near 1805 for the first time, and the expected target is near 1823. In order to facilitate you to continue to follow up on my analysis and sharing, you can like and follow me. In addition, you can enter my channel for free in the following ways to follow real-time views and operational strategies. FXOPEN:XAUUSD FOREXCOM:XAUUSD TVC:GOLD OANDA:XAUUSD FOREXCOM:XAUUSD TVC:GOLD
OANDA:XAUUSDShort
by Blessed_V
2
Gold is brewing long-term sentiment, and the upward trend will c Today's market conditions are in line with my expectations yesterday. At present, the daily line is still rising. After the big rise broke the Bollinger Band on Friday, the technology is still performing strongly.Therefore, before the non-farm payrolls data affect the short-term direction of gold, I think gold will continue to fluctuate upward. For the intraday market, the 4-hour cycle of Bollinger bands opened on the upper track, and the support of the 5- and 10-day unilateral moving average is the standard strong point, mainly bullish. Operationally, it still continues yesterday's thinking, focusing on long positions at low levels. You can consider long positions on the 1850 line, and the first target is expected to be on the 1860-1865 line. In order to facilitate you to continue to follow up on my analysis and sharing, you can like and follow me. In addition, you can enter my channel for free in the following ways to follow real-time views and operational strategies.
OANDA:XAUUSDLong
by Blessed_V
Will XAUUSD continue to rise strongly?Following the closing of the DOJI, gold maintained a strong rise on Friday and touched the 1855 line. It can be seen that the gold price has continued its strong rebound pattern since 1806, and with the support of the 5-day and 10-day moving average, it gives the market the possibility that gold will continue to rise in the future. The technical indicator MACD is about to form a golden fork, and the upward momentum bar has just emerged, so it is likely that the upward trend of volatility will continue next week. However, overall, since the market is currently waiting for next week's non-farm payrolls data and the Fed's attitude towards raising interest rates, even if gold prices rebound, the room for rebound will still be limited. Judging from the 2-hour chart, the gold trend is too volatile, and the MACD shows that the kinetic energy is too strong. There is still momentum to rise in the short term, but the top is about to face resistance from the 1865 line, so the higher the gold price in the short term, the greater the pressure it will face. It is not ruled out that there will be a rhythm of volatility and decline in the market; However, in the current form, the main one is the bullish upward trend, and the pullback is relatively small, while the 1850 line below is the key support in the short term, so the current market trend is biased towards long-term operation. In terms of operation, it is mainly based on long positions at the low level. You can consider going long at the 1850 line; you can try to go short near 1865 for the first time. The above views are for reference only, please continue to pay attention to my analysis and sharing, I will bring you a more perfect presentation; click the network button below, everyone is welcome to come and discuss together
FX:XAUUSDLong
by Blessed_V
The XAUUSD Learning CurveHey Traders, You may remember we looked short as the market rallied and rallied. Well, you can see how that turned out. Now before you look to decide how you will trade the following move you must take the opportunity to save in your brain (or this post) a key lesson to learn. The fall to Circa 1600+ area gave way to this long move. That is because the fall was harsh and fast and moved the market to comfortable support. There are 2 traders in this situation: - This will keep falling. - This will turn around. Both are hypothetical, but only ONE is logical. The latter, in any situation, you will find up ends being right over time. That's because markets cannot fall forever they have to change and move the opposing way, that's just how things have and do always work. Simple Market Economics and experience Trading tells you this. That is why the markets are oscillations of price over time. Buyers and Sellers move in and out according to the overall sentiment and key price points for value on an asset. So again, next time this kind of thing happens... Don't be a neigh-sayer. Be a Trader. Be patient and wait for the returning move, it'll come. PS if you mind then says 'OK when will it come, how do we know?'... That's what PA and a risk plan is for. Never let any market ruin your portfolio and make you scared. Scale your risk in accordance with available capital and never overleverage.
OANDA:XAUUSD
by WillSebastian
9