SteadyFund

SteadyFund

Gold behaved almost according to what I predicted yesterday, but it didn't trigger my selling limit at 2364. I was able to catch the ride when it retraced to 2350. Today we can sell from 50% retrace at 2339 and targeting 2309.

SteadyFund

Gold indeed form a hourly double top at 3358-3365. Today before CPI data release, we can trade range. Support: 3343.5-3346.5 Resistance: 3362-3365 We should see serious correction after today's session.

SteadyFund

Daily candle was closed on positive note. Another ATH was reached during Asian session. After that, Gold was kind of consolidating from 2322-2342. 5th wave should end pretty soon. Buying needs to be cautious. Monitoring closely at 4hourly timeframe for possible rising wedge formation. Once formed, we could see price correction until 2300 first. If not formed,...

SteadyFund

Bullish for today. Gold has retraced to 2300-2305.8 level. Buy toward 2350.

SteadyFund

Elliot Wave Analysis Currently gold is at the 5th leg of the 3rd wave. This 3rd wave should at least extend to 2358.8 before some consolidation. The final wave (5th wave) should be reached anytime before Jun the next interest rate cut. Once interest rate cut happens, we should see a few months' correction. Trade with caution. Fund security is No 1 priority.

SteadyFund

Today is NFP day. Market will be very volatile during US session. Before that, there should be some trading opportunities. Yesterday daily bearish signal is not strong enough. There could be one final push up to complete 12345 wave pattern before serious correction. Try trading ranges today. Support: 2282-2284 Resistance: 2300-2304 I will look for patterns in...

SteadyFund

Gold did not retest 50% retrace yesterday. It may not do so today. But take note of the trend line, which was tested three times. Bullish is still strong. In such situation, short is not advised. Try to buy from 2283-2287 level.

SteadyFund

Bulls are very strong. Do not try to trade short. You may be left out without ceiling.

SteadyFund

Gold is strongly bullish. Do not take short trades. I will closely monitor lower timeframe for any trading opportunities.

SteadyFund

Gold is strongly bullish. Short should be traded cautiously. Could be no chance of pull back. Will closely monitor lower timeframe for trading signals.

SteadyFund

Remember it's month end. Market will be volatile. Expect huge move up for Gold.

SteadyFund

Watch out for the key resistance and support line. Trade only when broken or supportive patterns are formed.

SteadyFund

Buy the breakout or from support line. Trade smartly. Do not overtrade.

SteadyFund

Gold should retrace a bit and continue downward to reach 2153-2155 region before reverse up to 2185 area. Trade with caution. Use lower timeframe pattern to confirm the move.

SteadyFund

Overall trend is bullish. Two scenarios: 1. Consolidation from 2153 to 2195 before next big move. 2. Deeper correction to 50% level. Should be clear in the next two to three sessions.

SteadyFund

Worked out as predicted.

SteadyFund

Gold is coming to a triangle now. Waiting for next big move

SteadyFund

See chart analysis