9.5 Gold short-term operation strategy1: US debt. Since 2022, out of concern about US debt, central banks around the world have chosen to increase their gold holdings to balance the structure of foreign exchange reserves. In the past two years, the amount of gold purchased has doubled, and the scale is still expanding.
2: The Federal Reserve cut interest rates. After the interest rate cut, more US dollar liquidity will be provided to the market, and more funds will return to the gold market, which has never happened in the rise of gold in the past two years.
3: Risk hedging. As the best risk hedging tool, gold will increase significantly in asset allocation during the economic downturn. China is the largest consumer of gold. For every 10% drop in gold prices, China's gold demand will increase by 16%. Once gold falls sharply in September, the central bank may return to the market with a large number of orders.
Regarding the theory of US economic recession, there have been whistleblowers one after another since August. The plunge in global stock markets on August 2 was Sam's Law, and the plunge in the Nikkei 225 index on Tuesday this week, and the decline in gold/crude oil all triggered the recession indicator of US economist Rosenberg.
At this stage, the recession of the US economy is still in the imagination stage. The US August employment report will be released at 20:30 Beijing time on September 6. The market is overreacting to the unemployment rate. The unemployment rate rose to 4.3% in July. Once the unemployment rate rises in August, it may trigger the reduction of arbitrage trading funds and cause market stampede.
Before that, the US will release the August ADP employment data today. The previous value was 125,000, and the market estimated 145,000. The number of initial jobless claims in the United States for the week ending August 31 will be announced at 20:30. The previous value was 231,000, which was not much different from the estimated 230,000.
This is just the appetizer. The hard dish is the US non-farm employment data on Friday. Last month, the global market avalanche was triggered by the non-farm data. The sharp decline in non-farm data last month should be bullish for gold, but the market trend suddenly turned from the expected Fed rate cut to the US economic recession, causing indiscriminate panic selling. This time everyone's eyes are on the non-farm data.
Today, we will pay more attention to the changes in the technical structure. The data only serves as a guide. Emotions will be reflected in the price in advance. On Wednesday, the gold price accelerated its decline in the European session, falling from a low of $2495 to $2471, a drop of nearly $25, but the continuity was extremely poor. The US session recovered and returned to the $2500 line.
In recent times, the gold price has been on a roller coaster ride, and basically there is little continuity. After a sharp drop, there is a sharp rise, and after a sharp rise, there is a sharp drop. This morning, the price was at $2498. After the rebound in the US session last night, it closed above the support point of 2491. The upper pressure is still collectively at $2507. The break of this position will temporarily end this round of small-scale adjustment.
From the 1-hour structure, the price rebounded after two dips to the 2470 USD line, forming a staged double bottom. There are two positions above that are of particular interest. One is the 2500 USD line with the pressure of 2507 USD as the boundary, that is, to hold 2506-07 and continue the weak shock. The support below is 2491. Only when it is lost here can it be opened for the second time.
In addition, if the rebound is strong and breaks through 2507 USD, the rebound will further continue to the range of 2512-14. The rebound here should pay attention to the decline after the rapid pullback. Don't chase the market in the past few days. If you see a rise, you will have more callbacks. If you see a fall, you will often be shorted. If you see a rise, you will look for pressure positions to go short. If you see a fall, you will look for support positions to go long. Don't treat the box shock as a unilateral one.
Therefore, my idea for gold today is to continue to look for a decline with 2507 Qingyuan as the pressure. First, pay attention to 2492 below, followed by 2485 USD and 2485 USD. The formation of this unilateral market will be postponed to the non-agricultural data tomorrow night or the Federal Reserve interest rate decision on September 17. Before that, it will mainly be a roller coaster wash.
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🔥 Weekend Technical Analysis Fiesta🎉- Name Your Crypto!Another month has passed since the last Altcoin Fiesta, excited to do a new one!
My short-term view on the markets:
In nearly all my Bitcoin posts recently I've stated that I was bearish until we can get a bullish weekly close above the top purple resistance. Seeing today's price action, we're likely going to close the week above said resistance.
Near term looks bullish. Main resistance is the July high of 31.800, a move above there can easily take us to 35k or higher.
Alts have been bleeding hard. With BTC going up, there's ample short-term opportunity to find in the altcoin market.
🎉CRYPTO FIESTA🎉
Comment your favorite crypto below and I'll do my best to make an easy to understand technical analysis on it. Will be making these analyses all weekend!
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🔥 Weekend Technical Analysis Fiesta🎉- Name Your Crypto!After last weekends successful Technical Analysis Fiesta, I decided to start another one for this weekend🎉.
My short-term view on the markets
Bitcoin is still trading bearish. Wednesday's FOMC meeting has not excited the market and has led to short-term selling in both crypto and stocks. Still anticipating that BTC will move towards the bottom diagonal dotted support line. Currently 50/50 whether the bottom support will hold or not. If it fails, the long-term bullish trend has been broken and the 2023 top is likely in.
🎉CRYPTO FIESTA🎉
Comment your favorite crypto below and I'll do my best to make an easy to understand technical analysis on it. Will be making these analyses all weekend!
Give this analysis a like if you enjoy the content
NAS100 tradeIf it breaks the triangle and the zone with high volume candle the it can fall up to the below target by 200-300 points
Get get DOW with itSo looking at the DXY, I still feel we are expecting 2 situation (yes the old up and down what can we do in the world of charting!) I'm being bearish , sorry bulls! We are still expecting a move down.
I have been stopped out of a large position because I was too eager to get my short in with high leverage. That's fine I will be risking a big short depending on how we finish the day. Friday naturally will be a key point. This DOW chart shows us in a downwards channel. Your thinking, idiot, consumer spending is big its Christmas how can you be so bearish? Lets see it play out, we still have big factors in the world that can trigger lots of downside.
Dow price targets simulated in chart ****** this chart was made a over a week ago ***** DOW is in a downward channel and a bearish ascending wedge. Key points for me. If you zoom out on the daily you can draw a trend line from the 16th as a support up to where we are now it connects to the target at 44. so between 44-48 will we see us retest this point before moving on.
Importantly, can someone tell me how Powells meeting gave the space a bullish sentiment? He always comes on the scene with wet paper speeches? However, everyone makes movements regardless of solid figures coming out? He literally stated we "maybe" able to fix the situation but the window is "very narrow", I don't understand how that gives people confidence.
Regardless, DXY is in a make of break position to fall to big support or blow up wards, I'm more inclined for a move down over the next few weeks to bring the DXY towards the 100/101 mark. However, a bounce up to 107/108 should happen first before we can make a decision on it's direction.
It's coming up to Christmas consumer spending will drive the markets ultimately IMO.
Hit me up with your thoughts lets brainstorm. No opinion is wrong do not be shy to express a feeling or information that you feel can change the space.
USDT.D - BTC/USDT Correlation: Machine's Wisdom or Coding Error?Trading Neural Network finds correlation:
Pumping USDT Dominance (USDT.D) = Dumping BTC Price (BTC/USDT).
Machine's Wisdom?
Or a Coding Error to be fixed?
Linear Regression wedges forecast high USDT.D.
AI predicts Bullish Wedges on USDT.D.
If the correlation is true, BTC could crash.
Chart Pattern matching finds correlating Bearish Wedges.
The latter is on the BTC/USDT chart.
Machine learning made a good call on JUV.
See RELATED IDEAS.
Is it luck?
Or bots beat humans in trading?
NNMF* translates the machine's call into the TradingView idea:
USDT.D up.
BTC/USDT down.
So, we marked the post neutral.
No human supervision.
Trade with caution.
*Non-negative matrix factorization translates machine
ROUTE takes the Route towards its high :P LONG TRADE.A successful breakout today from Symmetrical triangle inching towards it's previous All Time High. The stock has a potential of going higher then its ATH . It took a support of the falling channel and the lower trendline(now for symmetrical triangle)
One can wait for a retest to occur and buy around 670 levels for a short term trade. Well the Risk takers can buy the stock at CMP (1693) around 1700.
Rsi also looks in good bullish momentum currently at 64.
#Pure Price action.
Bank of Baroda set for a Huge Uptrend. Long Swing tradeLeading banking stocks are moving higher breaking out from falling channel.
Similar breakout happened in Bank of Baroda which has given a successful breakout from its multi-year falling channel, retested it and continuing its upward move very smoothly. Also we can see a Flag & Pole pattern formation at the bottom of the downtrend indicating a near term target at 110-116 from CMP. RSI is also in a good upward momentum. Upmove comes with huge volumes.
High conviction trade.
You can also spot Cup & Handle pattern forming with a neckline zone of 87-93.
Happy trading!
CHOLAFIN Long trade for Swing.The price has been moving in an Upward Channel and is around the Lower Trend line of the channel and there is also a Demand Supply zone around it. So there is a Confluence of both. A Confluence of 2 or more lines indicates a zone to watch out for some price action either side.
But watching the buyers buying on dips and being active on the lower trendline and RSI is also around 51
showing strength in the stock to move higher. Hence my view says to buy around CMP with a target of almost 8-10%.
[STATUS] BUY NOW! %100 AND MAYBE EVEN MORE, MUTCH POTENTIAL! I have been following STATUS for a while and I see that there is a lot of potential in it.
There is a good chance that it will go up 100%.
I would advise buying soon. Because I expect it to rise very high.
I am new myself so comments are always welcome as long as they help me.
I hope you liked my advice and if you have any questions please let me know.
I wish everyone a good day and I hope I have been useful.
Have a nice trading day!
NZDUSD Uptrend - MonitorPrice is in an uptrend. Price is currently at this level on the trendline.
Price needs to show its hand on what it wants to do.
If staying uptrend: need to show rejections on the trendline, and break the short-term retracement trendline.
If breaking the uptrend to go to the downside: need to break the trendline with a momentum candle to the downside.
Could be a nice trade! :)