SerpentForexClub

SerpentForexClub Updated 

Let's start with the daily routine, step by step. Macroeconomics This week's market driver is the US debt ceiling issue. This should push gold higher, but it is still falling. Market Sentiment "But gold saw little safe haven demand over the past week, with prices tumbling sharply below the $2,000 level as a string of hawkish comments from Fed officials...

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Gold reacted to the previous bullish manipulation and created a new one. Overall low liquidity move on 4H, which means it is quite bullish for now. Gold should rise to the next strong zone, which will also be a retest of the broken channel. Once this area is reached, it may fall again, but ONLY if the price forms a bearish manipulation. My bearish expectation is...

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Yesterday gold had a chance to clear out the liquidity and form a nice bullish impulse, but it failed. The news was bullish again and the price was very heavily manipulated, but gold fell, negating the bullish manipulation. It seems that the banks are in no mood to buy and you know the old saying "Sell in May and go away". It is about the stock market, but it...

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I have marked a bearish bias for today, but the direction is not clear. All markets are in a range, so it is very possible that gold will form a range day. I am more bearish on gold, because yesterday's CPI reading was bullish for gold and it could not go up - showing weakness. Gold is in an uptrend, ranging around 2070, most likely to accumulate another bullish...

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NFP caused big bearish day -50 dollars fall. In my opinion gold has started a consolidation to break 2070-2080 area. Big moves caused by the news are really stable, in most cases price comes back. Macroeconomics Recent readings have shown that the labour market is strengthening - again. The inflation readings rerinforce the speculation of further rate...

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Today is NFP, so gold is likely to consolidate around the central pivot. My expectation is that gold will continue to rise. A few days ago we had ADP employment. Some people say that NFP can be predicted based on ADP employment. In fact, most of the time the two readings are negatively correlated. The latest ADP reading was inflationary and gold fell 100 pips...

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Gold has been rejected from "support" many times. The last time this happened, gold rallied. I have several reasons to believe that gold will go higher. It is hard to say if we will see a small dip before the rally because it is a new day, a new week and a new month. My strongest argument for higher prices is the current economic situation. Macroeconomics Bank...

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Gold is still contained by the bullish channel, but in my opinion it will continue to fall. Next week is the last week of the month, so we can expect some crazy price action. On Friday, gold was heavily manipulated to the downside. I expect this manipulation to hold. The current target is the bottom of the channel where the 4H manipulation zone is. ...

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Last week the structure became very suspect and, as I thought, gold collapsed. It cleared the position of buyers targeting 2070. Eventually gold will clear these highs but do not expect it to be that easy. Gold has fallen very aggressively but it has consolidated many times around the 2000 level. It is an important level, so I expect it to bounce back. There is a...

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Yesterday Gold fell after the bullish CPI, clearing the liquidity from the buyers. At the moment, I have no reason to believe that gold will turn bearish. Some people may see a trendline retest, others a head and shoulders. I see: daily closes for gold and silver were bullish, GDX made new higher high. So monthly, weekly and daily time frames are still...

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Gold is clearly bullish. Even with higher prices on Yields, gold is going up. Today is CPI and it will be very volatile. GDX GDX is unstoppable. It just goes up. Silver Consolidation is broken. Higher prices are expected. Yields I suspect that Yields will respect the channel and will go down today with CPI. Benchmark Gold...

SerpentForexClub Updated 

Gold is moving in a bearish channel. We do not know how long this channel will last. Until it breaks, the price action will remain bearish. Yesterday the 4H zone failed to hold, thats why I expect gold to go further down to the daily manipulation - the start of the bullish impulse. I expect gold to form a small daily candle. Gold vs Silver Silver was...

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Gold reached the 4H manipulation area and reacted with weak manipulation. Until this area is broken Gold is bullish. Silver vs Gold Silver looks bearish, but in smaller time frames it is consolidation, meaning for me that it refuses to go down. Gold vs GDX No signs of bears on GDX. Gold vs Yields Yields opened with bearish gap, showing...

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EU is moving in a very tight bullish channel. I dont see any sign to go down. Interest rates The FED may want to pause on rates, but the ECB has been very clear - there will be no pause for now. Historically, the ECB always raises rates later, but also pauses later. This divergence will drive the EU higher. On last meeting ECB rose the rates with 50pbs...

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Gold has been in a consolidation for two weeks - a very tricky one. It could be a double top, triangle, wedge, head and shoulders, every known pattern. Any speculation at the moment is gambling. Next week is a new month and new quarter, which means gold has a lot of room to fall before the rally resumes. The important numbers for the institutions are the annually,...

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On Friday there was big chance Gold to go up. The news that German stocks and banks are red, should push Gold up. It does not happened, instead Gold bounced and start forming consolidation. Because of the current Macroeconomics, it is not clear how big will be the consolidation, but overall Market Sentiment is bullish. Technical analysis are bearish for now. I...

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I was bullish for the news. Gold is even more bullish than I expected. Did not gave us good bearish impulse, but 200pips profit is enough. Preparation, you can see on the chart below (click to see it at full)

SerpentForexClub

Gold made very strong push on Friday, driven by the uncertainty. The bullish trend in continued. Overall I am expecting bullish continuation, but first price will retrace a bit. 2000 area is very strong psychological area, just like 1800. Macroeconomics The uncertainty is very high, because US banks failures. These banks are small, but still very big sign...