SteadyFund

Gold again pumped with no retrace. This is very difficult for buys to go in. There is no sign of slowing down for bull runs. However, it's very dangerous right now for buying orders and selling orders to stay overnight. I will engage more on intraday orders. I am looking to buy from 4265, targeting 4366 and 4411. There could be some selling opportunities from 4366 and 4411, targeting 4300, depending on the price actions. Let's see how the market plays out today.

Gold went another day without much retrace for buying opportunities. It didn't touch my selling point of 4234 as well. Looking at the 1hrly TF, it seems like this yellow metal is not going to retrace either today. It could directly go up to 4239 or even 4265 and drop from there back to 4200. Let's see how the market plays out today.

Gold has been very interesting recently. It didn't give any chance for buying opportunities as it didn't retrace much. However, every day it always dropped from high, giving perfect intraday selling opportunities. Right now it has entered my monthly selling zone. I will sell from around 4200 for today and target 4135.

As mentioned yesterday, gold was about to break 4057 and it indeed happened. After breaking the resistance, it climbed slowly to 4117 and closed the day above 4100. The rise above 4057 is very slow and there could be some retrace coming for today. However, the bull is dominating and I do not advise any selling orders below 4150. Therefore, I will look for buying opportunities from 4060, targeting 4150 for today.

Gold is now facing a strong resistance at 4057. This resistance has been tested for two times. I will watch closely on the close of current 4H TF. If 4057 is broken, gold could rise sharply to 4140. If 4057 holds, next supports are 4000, 3950 and 3900. Based on current weekly trend, 4057 will most likely be broken.

Last week, gold soared again without any retrace in weekly TF perspective. This could not last for long but there is also no sign of dropping. Although in lower TF, we saw a few selling opportunities, gold always recovered with bigger rise. Therefore, I am still expecting gold to reach my monthly target, which is around 4120. For next week's trading strategy, I will be cautious in selling under 4120 and limit my buying above 4120. I am expecting a spike up to 4120 early next week and went down afterwards. Let's see how the market will play out next week.

Finally we have seen the Elliott wave completed in 2D TF. Yesterday gold did rise close to ATH at 3957 and quickly dropped in US session and closed the 2D with a red candle and back down under 4k. We may see days of bearish move. Today is NPF day. there may be a spike up but I do expect the price to drop under 3882 for today and even touch 3850. Let's see how the market plays out today.

Yesterday I stated that gold has entered my weekly selling zone. However, it went straight through. Therefore, I am very cautious in engaging both buying and selling orders. Selling orders should be carefully taken as the bullish momentum is too strong. Meanwhile, due to the overbought situation, buying orders should be temporal as well. The market could turn into short term bears any time soon. For today's trading, I will look for buying opportunities as long as 3983 is not broken. 1st target 4079. Ultimate target for today 4106

Gold is insane recently. It continues to rise without any retrace. Yesterday it went up from 3883 all the way to 3970. To me, this is difficult to engage buying orders as the stop loss will be too far. Gold is now approaching my weekly target and could finally have some retrace in my opinion. Therefore, I am looking to buy from 50% Fibo retrace of yesterday's daily candle, which is at 3927, targeting 3993. Alternatively if 3993 is reached first, I am looking to sell toward 3950.

Although in my weekly post, gold is very bullish and selling should be avoided at this moment, it is facing a strong resistance at 3895. If 3895 is broken, we may see 3925-3945. Alternatively, if gold retrace to 3865, we could buy toward 3895. Again, I will only engage buying order for today. Let's see how the market plays out.