The last 2 trading days was not helped us to trade. I saw many pairs near to a nice confirmation of longer term trades, but most of them retraced because of the GOLD’s and USD’s movement. This week, I’m sure that the USD will back up, but I can’t tell when and why will it happen.
As you can see, one of the news is that there will be Holiday in the United States. Only some economy numbers will be published on Monday, the EU zone’s Trade Balance, and 2 other news from New Zealand.
Lets talk about trading tomorrow. First of all about USD.
It was really hurt what happened in last days of the week, but you can see that the USD went real low in the daily chart. Some FED speakers talked about positive future sights, and I read many forecasts about the positive movement of USD. So, I hope this will start soon.
So, what about GOLD. Price Action and some indicators also show the time of reversal. I’m waiting for confirmation, so I’m sure that I’ll not start trading near the market opening, but if the price goes down and reaches the conf. levels.
I wrote about GBPUSD earlier. It was almost reached the confirmation level, but turned back earlier. If my idea about the stronger USD will be realized it will help and on Tuesday Great Britain’s PPI and CPI will be published and the forecasts wrote about bad numbers. We’ll see what happen, how the market will start.
I’m checking many other pairs, but most of them went a little far or the indicators don’t show the signs anymore that help me to find the trading options. On Monday, I’m waiting for an easy trading day with smooth movements. But who knows. Political news can make big movements…
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As I wrote earlier, I hoped that USD will be stronger today, but lets see what happened today and why is the USD reached that that low price.
These are the two charts. As you can see everything started real early, when Chinese economy datas published. The USD started to move down, the GOLD started to move up because of the mixed datas. Later the stronger EUR pushed down the USD. The German political news pushed up the EUR price.
We started the US session with real good datas. The Core CPI was better than the expected. This helped to the USD and also to the GOLD too to recover a little.
Lets talk some words about trading. I was sure about – I’m still sure – the GOLD will go down to the 1300 area and the USD will also become stronger – will go back to the 93-95 area. This is why suggested to change the Stop Loss to a hedge (buy stop) and let it close with low profit when it goes back.
This is how the signal users didn’t lose the GOLD trades @ 1331. We all earned some cents with the hedge, because the buy stops opened and closed with low profit when it went back. I placed the 2nd hedge to 1333, because I think the GOLD will make slow down movement in the evening, how the USD will go back higher a little.
I don’t really think that too much thing will happen today. The AUDNZD is the only pair that near to profit. I suggest to all signal users to close it when it goes to positive.
During the weekend, I’ll write news and infos about trading an I also suggest you to follow my programs if you want to become wealthy easily. Choose the FREE EXPERSS SIGNAL, the LAMM INVESTMENT option, or just contact me and I’ll help you to find out the best option!
I’m on holiday right now, so as you saw I didn’t post too much this week. I shared my trades to my signal users only and we made nice profit. But we didn’t trade with GOLD.
It didn’t show good signals until today. The GOLD went lot lower than I ever thought. This is why set his trade some minutes ago…
I’m sure all traders use some kind of indicators and I’m sure that you see the same than I do. We’ll see what will happen 🤑🤑🤑
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Discount offer for December
The cycles conflict in December, so volatility is likely to increase. The weekly cycle again projects a choppy pattern. The monthly cycle tops now and bottoms at mid-month and rallies into year end. The resolution will likely be that the metal price will move lower into mid-month and higher into the end of the year. The period from the 19ththrough the 28th will likely be the most bullish period in December.
The monthly cycle points down into mid-month and then up into New Year’s Day.
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THIS HAPPENED ON FRIDAY – Investing.com
” Trades that moved about 4 million ounces of gold in a matter of minutes awakened the precious metal from its slumber.
After 11:10 a.m. on the Comex in New York almost 40,000 contracts, each representing 100 ounces of the metal, traded in a span of 10 minutes. That triggered a sell-off, sending prices down as much as 1.1 percent.
The trades jolted the market, which has seen 60-day historical volatility languishing near the lowest since 2001. The metal has struggled to sustain the pace of gains from earlier this year as the outlook for rising U.S. borrowing costs curbs demand for non-interest-bearing assets like gold.
“We didn’t see any headlines, any news to make gold drop $10, but it just did,” Miguel Perez-Santalla, a sales and marketing manager at Heraeus Metals New York LLC, said by telephone. “It’s going with someone who has a huge position that can trigger stops and make the market move in a direction.” ”
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