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Gold Day Trading

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not hanging my hat on this, may make a decent swing trade south, risk defined
looks complicated, in process very simple, broken down we have several channels, clearly defined
two prior failed flags, price held at resistance in a bounce structure, it's a rare ratio for xauusd, i'll take it, scaled

www.tradingview.com

Chart Image

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xauusd daily sell bar.png
fridays trade was tad messy for me, i found it hard to read what was transpiring, hence the 3 sets of trades
the final series i decided to leave a set open over the weekend and that was mostly due to :

1 the unusual covering bar that was likely printing
2 the way that transacting suddenly dissipated at the low, sat on a tenuous support line, price lengths became extreme shallow,
that shallowness and lack of volatility was likely confirming the day bar
3 especially the sentiment within the cfd:
of the "Top-Clients" only 23% of those traders were STO yet they held 63% of the
available capital in the open sell positions
of the "All-Clients" 82% of participants were BTO (buy to open) ...that's keen!
4 we had a 20point sprint north on the news release, a rotation saw a 26point clean sell south

it is normal for prices in index and major commods to retake a news release level, only this sell did not falter until well passed the release level, suggests monday we are likely to see some discount buying with a follow-thru below saturday mornings 1755's low

this is not a normal ball market activity, i go so far as to say we have a concerted effort here to flush out shorterm buyers
as you can see from the third trade chart the total numbers of traders are who are keen to buy what the gurus are spruiking


xauusd closed friday post NFP 101021.pngxauusd NFP release 081021.pngxauusd NFP release 081021 ii.png
 
CRB wots up with this ?
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Chart Image

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some constituents are on a rip
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tin inc for reference

part of what makes a thin trade is the relative value within,
a genuine bull market is driven up by the largest cap constituents
so if GC1 and SI are not in the game, do we have a genuine commodities bull run ?

the only other question is how come (it seems to me) so many people are seeing the next great bull run
...at the bottom of a bear cycle?

we continue with fridays covering bar today
 
My daily and 4hr trend indicators are up for gold.
Golds breaks out of the Aussie session and makes a dash for it during the UK session. I'm not on. Woe is me. :eek:
Silver is also rallying along with the other PMs. High ho silver (I've got some SLV).

xau1310.PNG
 
not everybody got the memo on the NFP release .....rinse repeat, but, clearly, selling dissipates as buyers are still soaking up supply in the 1750-60 zone

might have to give my last sell away !

xauusd post MM inflation 131021.png
 
we should at least tap 1800-1802's (roof of downchannel)
an impulsive bid thru 1781's (more than just taking out the sell-stops)
puts big smile on the buyers dial

xauusd buyup gang roams 141021.png
 
D02XLM7J
 
sentiment is over the top bullish, below the % are capital placed in buy to open positions, again,
these margined positions are not hedging, there is no doubt that these players think they have a bargain nailed
on a short term basis they maybe correct, but this is not an overnight phenom, this has persisted for months
and now the numbers are at the zenith

xauusd slope of hope 151221.png
 

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