rday1927

Hey folks! I hope your portfolios have seen substantial growth by now.Since our last chart update, Gold has proven to be a reliable safe haven. We've observed that its price action depends largely on global news, particularly concerning conflicts in the Middle East.As we approach the upcoming FOMC meeting scheduled for October 31st to November 1st, our 4H chart still shows a bullish bias. However, please exercise caution as we anticipate some liquidity grabs in the coming weeks.FYI: When looking at the monthly timeframe, we're noticing significant resistance in the range of 1965-1985.

Hey there! I know a lot of us are probably thinking gold is bullish, and I agree. But you know what? It's smart to keep your emotions in check and NOT go ALL IN.Looking at the chart, we're now hanging around in the resistance zone, and chances are the market is just chilling and catching its breath before a potential BIG move. (waiting for significant news, like the Fed's interest rate decision.) Trust me, impatience can get the best of people, and they end up losing their funds because of it. So remember "you can't control the whole sea, best go with the flow."

Hey Folks! We're seeing a rise in the price of GOLD due to the Israeli-Palestinian conflict, which is really unfortunate for those who are affected. And this conflict has caused a significant gap in the gold market when it opened.As we've discussed previously, major players like banks and wholesalers tend to make big moves in response to significant global news events, and this is one of those times.Looking at the chart, IF the conflict continues, it's likely that gold will move toward our resistance level, which is between 1880 - 1900. And if not then we will be seeing a rejection in 1870 - 1860.Note: It's also vital to keep a close watch on another critical factor— the upcoming decision by the Federal Reserve regarding interest rates. This decision could serve as the pivotal factor influencing whether we should consider a buying (long) or selling (short) .

Hey folks! Hats off for the people who hold SHORT from the 1930 - 1945 position! Referring to the chart that we posted last week, Gold briefly brushed our resistance level at 1970 before resuming its bearish trajectory. The price range that we are seeing between 1800 and 1815 does not present itself as a solid support zone at this time. We need to see multiple retests before we can consider establishing a LONG position. Thus, it is imperative for us to exercise again our patience.Gold offers massive opportunities for substantial profits, but it can also consume you if you cannot restrain your own Mammon (Demon of Greed). Therefore, it is crucial to emphasize the significance of PATIENCE in trading.BUY NOW?Most likely the answer is NOT YET! as the market appears to continue within the range between 1800 -1750 or possibly even lower! And we need to make sure that the BEAR is satisfied before putting a buy position. BTW! 2024 is year of the Dragon! :)

Congratulations to those who took a short position!As we can see from the last chart we posted 2 weeks ago, the market had a slight upward movement, likely to clear out some unfulfilled orders before continuing the bearish trend.Now, the question is: When will it start going up?The honest answer to that is nobody really knows!However, if we stick to trend analysis, it's pretty clear that the market is currently in a downward phase. What's crucial here is patience. We're patiently waiting to see if a strong resistance at 1895 -1880 or a support level forms within the 1875 - 1860 range.Both retailers and major players in the market are currently in a holding pattern, eagerly awaiting for a potentially significant news that's expected to drop later this month before they take any decisive action.Patience is the key, because when the right time comes, it will be very beautiful and totally worth the wait. TAYOR!

For the past few months, we've witnessed a significant increase in inflation, but the interest rates have not yet responded accordingly. Consequently, we anticipate a potentially aggressive bearish movement towards the 1860 range in the upcoming month. Even if the FED takes a different approach and decides to raise interest rates, it's likely that there will be fewer buyers in the market. XAUSD might decline to the 1800 range and may only start to recover by the year 2024.Let me know what you think?Congratulations to those who took a short position!As we can see from the last chart we posted 2 weeks ago, the market had a slight upward movement, likely to clear out some unfulfilled orders before continuing the bearish trend.Now, the question is: When will it start going up?The honest answer to that is nobody really knows!However, if we stick to trend analysis, it's pretty clear that the market is currently in a downward phase. What's crucial here is patience. We're patiently waiting to see if a strong resistance at 1895 -1880 or a support level forms within the 1875 - 1860 range.Both retailers and major players in the market are currently in a holding pattern, eagerly awaiting for a potentially significant news that's expected to drop later this month before they take any decisive action.Patience is the key, because when the right time comes, it will be very beautiful and totally worth the wait. TAYOR!