GOLD, Gold and XAUUSD - page 121
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From a technical analysis perspective, the current situation is as follows:
on the W1 timeframe – a downtrend
On D1 – downtrend
on H12...H6 – flat
on H2 – an uptrend...
Conclusions: The overall assessment of the current situation for gold is a downtrend, but there is currently a pullback...
Will this pullback turn into a trend reversal? It’s hard to say...
Best course of action: stay out of the market for now..., wait for ALL trend indicators to reverse in the same direction...
Whatever the situation on these charts, how can we make a profit from all this right here and now?
Here and now – that’s the stuff of fairy tales...
The most reliable option is to wait for ALL indicators on ALL charts to reverse... i.e. a STRONG TREND...
But this is a fairly rare occurrence in the market, although it is tantamount to the Holy Grail...
All other options must be tested in the TESTER over a long period...
Here and now – that’s the stuff of fairy tales...
The safest option is to wait for ALL indicators on ALL charts to reverse... i.e. a STRONG TREND...
But this is a fairly rare occurrence in the market, although it is regarded as the HOLY GRAIL...
All other options must be tested in the TESTER over a long period...
So, you’ve got that sorted, but what next: have you tried looking for more precise entry points and minimising equity drawdowns? Any success?
Here and now – that’s the stuff of fairy tales...
The safest option is to wait for ALL indicators on ALL charts to reverse... i.e. a STRONG TREND...
But this is a fairly rare occurrence in the market, although it is regarded as the HOLY GRAIL...
All other options must be tested in the TESTER over a long period...
Here and now – that’s the stuff of fairy tales...
The safest option is to wait for ALL indicators on ALL charts to reverse... i.e. a STRONG TREND...
But this is a fairly rare occurrence in the market, although it is equated with the HOLY GRAIL...
All other options must be tested in the TESTER over a long period...
So we’d got ourselves into a bit of a mess, and then: we tried looking
for some valium and tear our grey hairs out :-)
because at the very least it took a nosedive; if there were support levels, they’d been wiped out; the optimal entry points were somewhere long gone, far away, and certainly not yours (it all happened whilst I was ‘waiting for things to turn around’).
Well, it’s turned around and now we’re being offered to enter at the worst possible price with maximum risk. The market loves that sort of thing. Eat it
PS/ We were discussing exactly the same thing somewhere recently... apparently someone there didn’t like it, so now they’ll be spamming all the threads with caps lock
Best course of action: stay out of the market for now..., wait for ALL trend indicators to reverse in the same direction...
Recommendation from AI
--
--
In short, if the price falls below the Bid, you can sell
If it holds above Ask = we buy.
We’re waiting for the market to open and going all in 😁😁😁
Recommendation from AI...
Translation to English...
The chart shows a one-minute timeframe (M1) for gold against the US dollar (XAUUSD). It clearly shows a downward trend that has given way to a localized upward trend.
Bearish scenario (pullback or resumption of decline): If the current resistance at 4217 holds, a local pullback back to support levels of 4211-4213 is possible.
Hi!
Is it worth buying gold at 1130 ?
Ha! 'Is it worth buying at 1130?' – man, if only we could go back in time! 😅 Gold has since climbed to 4220, so whoever asked that question basically found a goldmine.
Look, the market's unpredictable as hell, but here's what we've learned: when everything gets more expensive and inflation creeps up, gold tends to follow. Five months ago it was sitting pretty at 5598.32, and now it's pulled back a bit. But that's exactly why it's such a solid hedge against inflation – it goes where the money doesn't. And gives as NOW opportunity to buy in and hold for next couple years.
TL;DR: That 1130 comment aged like fine wine. 🍷