GOLD: Week17
Updated
Hi Guys,
first of all, thank you all for appreciating my works.
I do my best to try to make sense of what makes no sense. At least for me. Like the move that Gold made today after strong NFP release. To be honest...I was not expecting that pullback. Especially I was not expecting to end week17 above the same support that was breached on Wednesday when FOMC ballet commenced. I was expecting strong NFP read therefore a move lower pushed by the 72SMA. NFP was 263K vs 181K but Gold pulled back majestically leaving me stunned.
Well, while I try to give myself a reason I wanted to thank all those who supported my work and in particular @EdVanDerWalt (Bloomberg reporter, editor and markets Jedi) who even said that this chart was his chart of the week. twitter.com/EdVanDerWalt/status/1124354926610661377
I like to believe he said it sincerely. Lol. I wouldn't have posted this chart if it wasn't for his words of support.
You all make me feel good with your support. Thank you
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
first of all, thank you all for appreciating my works.
I do my best to try to make sense of what makes no sense. At least for me. Like the move that Gold made today after strong NFP release. To be honest...I was not expecting that pullback. Especially I was not expecting to end week17 above the same support that was breached on Wednesday when FOMC ballet commenced. I was expecting strong NFP read therefore a move lower pushed by the 72SMA. NFP was 263K vs 181K but Gold pulled back majestically leaving me stunned.
Well, while I try to give myself a reason I wanted to thank all those who supported my work and in particular @EdVanDerWalt (Bloomberg reporter, editor and markets Jedi) who even said that this chart was his chart of the week. twitter.com/EdVanDerWalt/status/1124354926610661377
I like to believe he said it sincerely. Lol. I wouldn't have posted this chart if it wasn't for his words of support.
You all make me feel good with your support. Thank you
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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