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Gold Day Trading

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Just a follow up from post #119. Just as we anticipated, albiet a little higher. Did not breach the order block.

 
price accomplised two standard moves
into the high of the previous tri and a basic 27.2% retrace of the whole swing down

and then ran out of fuel post nfp

rip sell away, rip sell awaaaaaaaaaaaaayyyyyyyyy
 
1814/1815 standard nearterm target range for this cycle, 1753 risk for larger swing positions
 
price took a while to lift to standard round number resistance 1800 xauusd,
looks quiet yet the auction has been very busy
we're about to find out how genuine are the sellers, thru 1800 finds 1814/15 next basic hurdle

Chart Image

www.tradingview.com
 
kennas said:
What's tradingview Joules? Looks like another stock chat site but harder to navigate about. Couldn't find you on there.
Click to expand...
only in it for the charts @kennas (they don't serve beer!)

top site, the charts are free to anyone, be warey of Aus open/close SPA not sure theyre alywas captured on tradingview if using for local stocks

i tend to steer clear of the chat stuff, i do enough rocket science (cough)
 
78.6% of yesterdays swingdown retraced

Chart Image

www.tradingview.com
the auction is struggling to get upside traction
still held within the channel, jobless claims should kick in direction
 
price still held well underneath the 382 level, plenty of nearterm distribution, no clear signal about trend either way
still leans on sellside

Chart Image

www.tradingview.com
 

when youre almost scaled out and the crowd goes....it's time to get long
stop 1797
 
did the bulls forget their collective keys ?
very busy auction, another buying opportunity broken down

Chart Image

www.tradingview.com

that channel looks like a hinge
 


neither team is winning in terms of absolute trend, a small signal of who has best intent is in the coiling as a signal for dt's
 
price struggled to ascend the 38.2% retrace currently rotated back south from the halfway level
we should see an attempt to bid up price 1790 (depending on your contract) which is also halfway down, that would put price on top of the most recent vpoc activity
below that we are likely to see a couple of crucial days for xauusd
sellside liquidity currently has the better risk
 
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