makhosi_decodingwithme
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makhosi_decodingwithme
Gold remains in a multi-week sideways range, pushing back towards resistance despite a stronger US dollar. The precious metal is back above all three simple moving averages and looks set to test $2,400/oz. next week.
makhosi_decodingwithme
Markets are underpricing the risk of a bigger sell-off in gold into the year-end, according to Kathleen Kelley, chief executive of research firm Queen Anne's Gate Capital. In 2020, many investors piled into gold as prices went from $1,600 to a new record high of over $2,000 an ounce. And based on ETF positioning before the big COVID gold-buying spree happened, investors might be looking at closing out more of their current positions that are underwater, Kelley told Kitco News. "During COVID, a lot of people put part of their assets into gold, especially into ETFs," she said. "Everyone piled into gold ETFs, and gold ETFs went from 80 million ounces up to 110 million ounces. A lot of those purchases are now underwater." In 2022, gold saw seven months of consecutive losses and was trading near the $1,600 an ounce level in October. Recently the precious metal caught a bit of a bullish wave as chaos in the crypto space following the FTX collapse pushed people into safer assets, such as gold. "Right now, you've got a bounce in gold because of what's happening in crypto. A lot of assets are coming out of crypto, and some money is flowing back into gold. That has helped gold get through the $1,600 level, but gold will go back down soon," Kelley noted.
makhosi_decodingwithme
Gold showing very good rejection off the supply zone.I used mental stoploss, I will state on my future ideas, its significant to use a mental stop when trading gold, it targets liquidity and usually I close my trades when the candle closes above the stop level.
makhosi_decodingwithme
Asian Scalp on Gold on break and retest. We are bouncing off an area of demand.
makhosi_decodingwithme
This analysis is made from the FED anticipation. Waiting for rejection confirmation from the demand zone, DO NOT ENTER WITHOUT A REJECTION.Trade cancelled
makhosi_decodingwithme
Rejection of a Supply zone, together with the FOMC Sediments of USD being hawkish.Take partial profitsTrade Success
makhosi_decodingwithme
I saw a rejection of a supply zone and since we are on a correction in regard to the sediments of the markets. Currently in the trade.
makhosi_decodingwithme
Head and Shoulders on Gold and it relates strongly with correction that is anticipated on GoldTrade Success
makhosi_decodingwithme
Breaking of structure to the downside, as Gold does a correction.Take partial profits
makhosi_decodingwithme
We reached an area of supply and I believe this is a pump and Dump because we have a lot of imbalances on the downside.
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