MichaeliaDefoe

MichaeliaDefoe

After a significant rally, gold has finally retraced to the 2600 level. If you’ve been following my recent analysis, you should have already taken advantage of this move. Yesterday, my strategy was to short at 2648, closing near 2618, while recommending a long position near 2610 with a target range of 2620-2628. This approach played out perfectly, securing...

MichaeliaDefoe Updated 

The price range is quite awkward, with resistance above and support below, leaving little room to maneuver. It's suitable for scalping; if you prefer not to do that, consider buying first and then selling in the 2468-2453 range later.

MichaeliaDefoe

The bullish momentum in gold has come to an end, and we are now entering a correction phase. Based on the current Moving Average (MA) alignment, the price is likely to decline towards the 2620-2580 range. This presents an excellent opportunity for short positions. I suggest taking advantage of this setup by consistently selling within the 2643-2675 range....

MichaeliaDefoe Updated 

Today is Thursday, and with key data releases scheduled for New York trading hours and tomorrow’s much-anticipated NFP and unemployment figures, the market is far from quiet. My advice for today is to focus on selling, despite the possibility of some upward movement. However, from a daily chart perspective, the likelihood of a downturn is much stronger. The...

MichaeliaDefoe Updated 

There isn't much to add—I'm currently stuck in a short position on gold, but I remain convinced that a downturn is imminent. The 4-hour chart shows a clear bearish divergence, and I don’t believe it will break through the $2700 mark easily. As a result, I’m consistently increasing my short positions, waiting for the profit window to open. Trust me, buying in...

MichaeliaDefoe

Since yesterday, gold has been fluctuating within the 2615-2635 range, with the bullish momentum clearly slowing down. In my view, it is likely to decline to 2606 by Friday at the latest. Why 2606? This level serves as a key support in the ongoing upward trend. A healthy trend relies on robust technical support levels, which is the foundation of my...

MichaeliaDefoe Updated 

Bitcoin's recent rally has followed a well-defined and healthy uptrend, with the trendline offering strong support. This suggests a sustainable bullish momentum. However, for this healthy trend to continue, Bitcoin will soon need to retest its trendline support. Should the test confirm strength in the trendline, the next significant resistance level is...

MichaeliaDefoe Updated 

After enjoying a pleasant weekend, we’re back to the action-packed market. Gold unexpectedly broke through 2600, reaching a high of 2631 today. Unfortunately, our short positions from Friday were caught in a trap. However, there's no need to worry—trust me, a significant drop is inevitable, and it might be more dramatic than we anticipate. Currently, the...

MichaeliaDefoe

Yesterday's trades were very successful. I bought at 2552 and closed at 2578, then sold at 2588 and closed at 2572, resulting in solid profits. It's Friday, and with no significant news scheduled for release—aside from uncontrollable events like natural disasters—the market should remain calm today. A $20 range would already be considerable movement. An upward...

MichaeliaDefoe Updated 

Crazy gold! The market has regained all of yesterday’s losses in today’s rally. This market is always full of surprises! Now it's clear that the resistance at 2600 is very strong. Since it couldn't break through, it's time to switch back to short positions. What rose from here is likely to fall back down to the same level. Sell, with a target profit (TP) at 2572.

MichaeliaDefoe Updated 

Yesterday, gold experienced extreme volatility, surging before a sharp sell-off. Today, the market should see less fluctuation as much of the news has been priced in. However, another key report is expected during New York trading hours, and I believe short positions will be more favorable following its release. Before the data comes out, a long position could...

MichaeliaDefoe Updated 

The excitement is building as the Federal Reserve is about to announce its rate decision—whether it's a 25 or 50 basis point cut. Will gold reach new highs or begin a downward trend? Let’s wait and see. From a personal perspective, I'm not particularly concerned about the impact on trading. Whether the market moves up or down, it will eventually return to the...

MichaeliaDefoe

Yesterday, gold made its first pullback to test support and has now formed a triangle consolidation pattern. I anticipate that today will begin with an upward movement, followed by another test of resistance. However, I believe the resistance will hold, leading to another decline. Eventually, gold is likely to break below the trendline, forming a double top at...

MichaeliaDefoe Updated 

Currently, the gold price is at 2584. I believe it should rise to the 2590-2596 range before starting to decline, with a significant drop likely to occur, potentially reaching the 2563 area. Therefore, I plan to initiate a sell position near 2590, with take-profit targets set in the 2573-2561 range. Gold's price movement could be influenced by market supply...