SOME INSIGHT I POSTED MONDAY YOU CAN GO THROUGH

5 hari lalu

SOME INSIGHT I POSTED MONDAY YOU CAN GO THROUGH

Gold showed a buy signal last Thursday because it was supposed to sell and it failed, that is a buy signal there but it comes with technicalities, so immediately i saw it, i posted buy around 4090 and i guess price retraced down to 4091.7 and started buying and hit around 4140 and i thought it would buy more( but it was a buy to create a lower high which start like a major buy until it fails to move above a zone), but it closed somewhere around 4130 and after analyzing Thursday evening i realized, it will buy friday, but it would sell to test a major zone before the buy start with momentum so signaled a sell first before the buy Thursday,
On Friday midnight to dawn i gave a sell to somewhere 4050 and i gave a buy around morning time and was firm on that and entry was at 4065-60 sl was at 4040, and CPI drops in the afternoon , i thought what if CPI pushes it below 4040 with a sharp move before the buy start because i strongly believed it will buy but CPI is a dangerous news.
Immediately CPI dropped it moved up so I went to check the CPI and saw that m/m data was lower than expected and previous which is disinflation short term and therefore a possible bearish gold short term and y/y CPI was higher than previous which is inflationary long term and therefore a bullish gold after the short term sells, and so i anticipated the sells especially after price failed to close above 4130 but i still needed a confirmation and an hour or two after markets opened yesternight it signaled sells and thus today sells.
So there is a possible heavy buy lately by early next month which will be driving by the y/y CPI and an already priced in Fed's rate cut this Wednesday and a higher time frame buy , i don't trade only based on fundamentals, i check to see if they will lead to a change of trend and to be alert but my trades and analysis are pure price action/ technical analysis and no indicator , my brain and eyes always work together to determine price next possible move and not any indicator

5 hari lalu

Nota

If you can go through the above post , i said a lot here concerning CPI and Fed's rate cut, so gold sold well to respect m/m CPI and we are yet to see the bullish move to respect y/y CPI or it's the one that just started this morning,
so the thing is y/y CPI was higher than previous which is inflationary and therefore bullish gold and market already priced in a rate cut which is also a bullish signal, but it doesn't mean fed will cut rates by all means but a clue so these may probably be the reason gold is buying but i always wait for price action confirmation before i decide on trend change