SteadyFund

SteadyFund

Gold indeed posted a positive candle this past week. It now entered a dangerous zone. Any time, a strong selling off will take place. From Elliott wave analysis, goldy is now at the final leg. It is highly overbought from Monthly and Weekly TF. Where to sell will depend on PA. Let's see what the market will give us next week.

SteadyFund

Gold has fooled us all. After printed large daily bearish bar, it quickly went up to 2595. This proves the market is unpredictable. We need to have proper money management strategy. The daily closed with a strong bullish candle. I will look for buying opportunity from 2573 level. Or trade the 2600 breakout. Let's see the PA at the respective zone.

SteadyFund

After FOMC annoucing 50bps cut, gold almost touched 2600. After that, a strong reversal and closed the day with a large red bar. With such PA, short term correct will continue. I will sell from 2562-2567 level and targeting 2533.

SteadyFund

A bearish daily bar has been printed yesterday. We could see price drop to 2556 and then goes up to 2578 or higher. There will be interest rate decision today. The market will fluctuate a lot. Let's preserve our capital and don't over trade.

SteadyFund

I am still bullish for gold today. This is my plan for today. buy from 2575-2577 support or trade breakout retest of 2589 resistance. Targeting 2600.

SteadyFund

Gold remains bullish but is overbought. I will buy during Asian and Europe sessions and look for selling opportunity during US session. There could be some correction from 2600. dips should be bought prior to US session.

SteadyFund

As predicted last week, goldy indeed broke the 2530 resistance and went up until 2585. With such a strong push up, I expect it to go further above 2600 next week. But first it should retrace during first two days of trading. I will look for buying opportunity around 2536 next week, targeting at least 2613, probably 2648. Let's see the price actions next week.

SteadyFund

Goldy has finally broken the 2530 resistance. It may not touch this 2530 level again. I am expecting it to go up from 2554 in Asian time and pull back to 2535-2541. I will buy from that level. My first target is 2573.

SteadyFund

I still remain bullish view on gold as long as it remains above 2500. Yesterday's CPI data initiated a strong sell but didn't break 2500 support. My strategy for today: 1. if 4 hourly break 2516, i will buy from retest 2. buy from 2503-2507 support.

SteadyFund

Gold is continuously bought on every dip. We may see ATH today after CPI data release. Expecting high volume today. My plan is buying from 2512-2515. Target 2527 first. Second target 2541

SteadyFund

Gold is straightforward today. Buying dips is my strategy. There is a small resistance at 2512. Once broken, will head towards 2528, after which, I am expecting ATH this week but probably not today.

SteadyFund

As indicated in my weekly analysis, Gold is still strongly bullish despite the strong reversal from NFP last Friday. However, buying is not so straightforward. I am expecting 5 Elliott waves in 4 hourly TF. Today's strategy is selling from 2505 and buying from 2473.

SteadyFund

Gold has been stuck between 2470 and 2530 for the past week. Although weekly it closes with slightly red candle. From 2 weekly candle, it looks like a inside candle signalling for bullish continuation. Therefore, for the next week, i am looking to buy from key supports. Intraday analysis will come on Monday. Stay tuned.

SteadyFund

Will we see ATH today? Most likely. But be cautious that today has important news - NFP. It usually throws big surprises. We could have two scenarios indicated in the chart. Before the news release, if we see accumulation around 2530 level, we could probably see another ATH. However, if price is pushing around 2510, that could be a sign of heavy melt down. Happy...

SteadyFund

Gold has regain its bull power. This is my setup for today. ------------------------------ Let's see the price action. Happy trading.

SteadyFund

Gold indeed went downwards until 2475 and rebounded to 2492. Daily was closed in red. So I expected it to fall towards 2475 again. 2475 level is important to watch. If broken, it could drop further to 2457. If this level is hold, it could regain its bullish power and go up to 2500. Let's see the PA there.

SteadyFund

My set up for today: Sell from 2500 and target 2480.

SteadyFund

As explained in my weekly forecast, I would sell at the beginning of the week. Will looking for selling opportunity from either 2504 or 2512 level. First target will be 2480.