Australian (ASX) Stock Market Forum

Gold Day Trading


see above: the overhead wall taking time to get thru

lack of drive/followthru on news release, an attempt to squeez thru the overhead levels(?)
lack of commitment from money that matters, this is the most bearish $xauusd has rep'd for several years
but is it bearish enough to signal a counter-intuitive position ......meantime, levels are levels 1814 s the ideal return to release level

xauusd overhead 070921.png
 
#ratio

how to not miss the train, ensuring that if alighting the risk is adjusted to the same ratio resistance
at this point the ratio confirms current move (continuation) or should rebalance thinking on immediate risk and direction

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"A journey of a thousand miles begins with one step." -Lao Tzu
"um, are you going the right way tho, mate ?" -TraderJazzHands
 
Just to put the day trading of Gold in to perspective the 20 year picture is worth viewing.

It is now worth the same as it was 10 years ago and 6 times the value of 20 years ago in USD.

Its swinging about 1800 atm, so for day traders this is heaven ,as you have a good branch on which to hang your swing.

That is unless the branch brakes or some Cryptic event puts it on a higher branch.

au00-pres.gif

gg
 
with the offer, still !

$xauusd if this count is correct, centreline of the channel is the magnet,
sellers are not keen, buyers are, less likely an impulsive rip as
most of the damage already done, not until 1716's
 
interesting to see what happens here, the operating channel after the second (analogue) failed bull flag saw solid sell printing this
morning, no signal to close STO's

my bet is we continue to search lower next few days
 
i was a bit keen on calling that, flag incomplete, price has not ventured further than the prior low, have redrawn the small flag,
no impulsive sell down, yet, likely several sessions of churn, sentiment remains high, clearly thru the number of players
not necessarily thru the % of capital at buy-side risk
23 Sept (US) Fed target rate, Interest on excess reserves and projection for Fed Funds rate, most prob a kicker

 

there were a couple of ratios that i thought would make for a decent rotation join at 1770
in the rolling front month cash $xauusd, as you can see the centreline gets validated, price has small
rotation at the middle of the channel, 1770 looking not so likely but no impulsive run down (yet)
.......the Fed funds rate/outlook looms
no reason thus far to close sell-to-opens
sentiment remains bullish viewed thru cap applied to buy-to-open positions by retail cfd players
 
for the knowledge bank
simple ratio one to one, nice set-up

all these spikes n games are allowing sellers to distribute
sellers are gaming price to induce

the above is the GC continuous
below is the standard cfd i refer on tradingview it aligns with the cfd desk i use
a harmonic set-up and information about immediate (daily at least) direction:
 
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