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Gold Daytraders

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gold/xau keeps losing traction, only spikes on news most likely shorts covering, lacks impulsive trend post news, runs out of momo, entraps, saved by lack of sell

 
gold bulls should take 'heart' on this little bid hit-out .....failure to fall further as we hit the Asian sesh and rotate on standard commod ratios is a good sign for longs
#xau #silver
 
#xau/gold
same deal, bid bounces off ratios with no follow-thru as we could expect on the Asian session
bid simply runs out of gas ....back on STO's

as reflected in local XGD today...belief systems wax n wain pretty quickly
 
(will we get a blow out in palladium too?)

#ABCDEtri still in play (weekly basis)

failure of bids both major PM's will keep this idea alive
 
Joules MM1 said:
(will we get a blow out in palladium too?)

#ABCDEtri still in play (weekly basis)

failure of bids both major PM's will keep this idea aliveView attachment 93185
Click to expand...

GOLD PRICES PREVENT PLEASURE DURING UNDER 1311

After forming the highest level at 1320 during this March, gold prices turned weaker along with the dollar's rebound after the Fed's dovish statement. The market sees this condition as a sign that the Fed is likely to end the program on normalizing monetary policy three years ago.

Even so, the Fed still looks optimistic about the US economy amid the global economic turmoil. Especially the most attention is the economic slowdown in China and the Euro Zone. That way, demand for the dollar has the potential to increase again which has the potential to weaken the price of gold.

As long as prices are still consistently below 1311 resistance, the price of gold in a downtrend is testing the closest support at 1305 before targeting 1302. Conversely, it needs to be consistently moving above 1311 to continue strengthening with the next closest resistance at 1315.

Support: 1305 - 1302 - 1299
Resistance: 1311 - 1315 - 1318
 
GOLD UP IN THE TOP OF THE GLOBAL ECONOMIC GROWTH


Gold prices were higher on Friday as disappointing data in the euro zone pushed investors into safe-haven assets.

The business sector across Europe declined in the release of preliminary data in March, with German manufacturing contracting no later than six years.

"This is a weakness in the economy in the euro zone and the prospect of interest rates that makes holding gold more attractive," said analyst Commodity Quantitative Research Peter Fertig.

Declining European data supported the Federal Reserve's dovish stance on Wednesday as the central bank remained concerned about economic growth in the US and globally.

Gold is very sensitive to interest rates, because lower interest rates tend to pressure the dollar and increase investor interest in non-producing gold.
 
gold ratios held well
likely some distribution as liquidity contracts, some accounts might close out to cover margins in other vehicles, the shtick of metals climb when equities fall takes a while to kick in (if ever) ..everything being relative, .......play the price

 
the higher ratio at 1316's looks like it'll go, persistent slow bid with silver being dragged behind,
the non-con can be read both ways, that price is holding in this zone so well clearly shows sellers not in the game....a lot of wild fish in other ponds at the mo
 
OUTLOOK GLOBAL ECONOMIC SLOWS POTENTIAL TO SUPPORT GOLD PRICE INCREASE

Gold prices have a chance to strengthen in the short term amid the depressed US dollar after the release of US economic data which was considered pessimistic on Friday and the increase in demand for safe haven assets behind the outlook for the global economic slowdown.

Today the market looks forward to a speech from FOMC member Charles Evans at 12:00 WIB, if in his speech he gave a dovish view, the opportunity to strengthen the rise in gold prices lately.

Support levels: 1310 - 1304 - 1297
Resistance level: 1320 - 1326 1333
 
kicked out and dragged back in
 

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  • gold brks 78.6 ratio res but immed rotates 250319.png
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"sometimes you kick sometimes you get kicked"

selling shoes on again, non-com v. silver, bids just not aggressive, mishmash auction is rubbish by any standards.....by default gold holders tend to get jittery

7:00pm EUR ECB President Draghi Speaks ...more likely to wabble some crosses than metals
 
gold rolls over

a developed structure looks for 1222....all attempts to lift silver/gold have been messy for several days even tho local xgd comp stocks are on the lift ....

impulsive sell
 
sfj

one of those days, trapped and spat out .....again.....!!

this thing has no staying power at all ...selling the front month under 1307's

crumble time ....
 
the large ABCDE tri idea is back to the fore

with the ratio construct breaking down as i hinted earlier we were due a strong surge in either direction and as the make-up of the lifts lacked clean impulse the bias held to the sell side

local $XGD comps are going to be a tad red tomorrow .....in a few days/weeks we should see a very good longside opportunity prior to a completion the monthly downtrend in both silver/gold

 
#diary #observation interruption to current downswing
$xau/gold has retraced more than 52.36% and almost swept 61.8% of the current bounce within the larger downswing
$silver has not made 50% suggesting both metals will take early next week to play out a chop before resuming lower...but note not either have made 50% retrace of the decline, bids hesitant suggesting only small money in the game, i think we can expect more of the same based on this

#comparison in the left 3m chart you see a healthy looking bounce and in the righthand 10m chart you see it in context



COT suggests continuous selling by trend makers
 
price going thru a looper pedal
Asian session no bids both metals
if both can make a quick rotate back thru 50% of last weeks decline that'd change the picture from a big hit south to another nauseating set of chops

 
this cow keeps chewing grass and dropping pats, time to send in a dog
....not seeing markers that tell a rotation at hand = south journey should resume but requires a catalyst dog with the nearest being the NFP's tomorrow
a short sharp sweet move south required to force weak longs to quit ..right now even an 'odd' bond sale would be enough


 
well constructed rip both $silver/$gold xauusd .....but the struggle at the low not similar to other rotations for a credible reverse to the upside, suggesting part of the NFP play

xauusd cfd just tipped the standard 1:1 ratio resistance, calling for small size
had to give up some % on prior STO's as part of the educational process !

data: finviz gold contract

 
ii

swim between the flags and mind the rip
gold being a the fantastic liquidity vehicle it is, at least on a short term basis, one should always be suspect of the pre-annoc activity, who go induced into buying, who would benefit for the pending annoc, who's selling all that buying etc etc ..how does it fit the larger context
even tho many of those answers are out of my reach, price is the final indicator. so planning time..

 
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