GOLD, Gold and XAUUSD - page 130

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I lost my profit on gold

I went short, and the profit was building up to 3,800 pips, but then a pullback started and I lost it all. I switched to a long position. In fact, I could have exited at the support levels – there was a clear bullish pin bar there – and switched to a long position. I’d be sitting on a decent profit right now and wouldn’t have lost on the short position


 
Satan Claws #:
My profits on gold have gone up in smoke
I’d seen account numbers being blurred out before. I was very sceptical about the point of that.
Now they’re blurring out the tickets as well. Why?
 
Grigori.S.B #:
I’ve seen account numbers being blurred out before. I was very sceptical about the point of that.
Now they’re blurring out the ticket numbers too. Why?
So that no one can work out it’s Alp’s demo account.
 
Satan Claws #:
I lost my profit on gold

I went short, and the profit was building up to 3,800 pips, but then a pullback started and I lost it all. I switched to a long position. In fact, I could have exited at the support levels – there was a clear bullish pin bar there – and switched to a long position. I’d be sitting on a decent profit right now and wouldn’t have lost on the short position


Train first before you put real money. Train entries and train exits. Trust no one. Trust your skills !
 

Now that’s a take-off!



 
Satan Claws #:

Now that’s a take-off!

Behold the power of U.S. CPI, or lack thereof because it actually came out flat for the first time since 2020.

Remember... The USD and gold are competing reserves. CPI is the primary metric for inflation. When CPI goes down, the yield (interest rate) of the T-Note goes up, and the coupon (price) of the T-Note goes down. Most institutional investors buy T-Notes to collect the yield returns, so they're generally only attracted when the yield is down. Therefore, the theory holds that those investors shift their capital from the T-Note to gold as a price play when the T-Note yield rises.

This is the extended explanation of why the USD, e.g., the T-Note yields and the DXY index, generally has an inverse correlation with gold.

Truth be told, I'm not a fundamental trader but my technical algo captured the upswing anyway. In any event, I still enjoy geeking out on the news.

 
Gold is definitely going to fall through the end of the year; it's a good thing I managed to sell it in time.
 
I don't predict targets like 6,000 — I just trade what the chart confirms. Right now: 3,970 is the level that matters. As long as it holds, dips are for buying. A daily close below it and the structure flips. Above, 4,060–4,110 is the resistance cluster that needs to break before any talk of new highs. Levels first, opinions second.
 
Satan Claws #:


You scoundrel! You’ve stolen a large chunk of the profits

Is there even any system to trading at all?

Apart from ‘buy high, sell low, and flip when the going gets tough’ :-)

 
Maxim Kuznetsov #:

Is there actually any sort of system in trade at all?

Apart from ‘buy high, sell low, and switch sides when things get hectic’ :-)

Of course. Trade with the trend, cut your losses, let your profits run.

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