SteadyFund

SteadyFund

Instead of melting down further, gold retraced all the way to 2627 and closed with a green bar. However, I still think there is still room for bears. Price could go up to 2608 before another leg down. 1st target 2565. 2nd target 2542.

SteadyFund

Gold indeed melted down from 2650 level after FED. As stated yesterday, after 2620 was broken, the next level is 2550. If 2550 is broken, 2500 is the next target. I am looking for selling opportunity from 2600. Under such bearish environment, buying is strongly not advised.

SteadyFund

Gold has broken 2650 support in the past day. I will sell at the retest. 1st target 2620. If 2620 is broken, we could see 2550 soon.

SteadyFund

Gold didn't continue its downward trend but printed a bullish daily bar. This signals some level of correction is coming. In lower timeframe, it didn't break 2650 support. If this support holds, it can pump up to 2662 or even 2675. I am looking to sell from 2662 or 2675 depending on PA on these two levels.

SteadyFund

As explained in my weekly summary, I am going to mostly engage selling orders this week. For today, I am looking to sell from 2655, targeting 2627.

SteadyFund

Gold is very naughty in the past week. It broke 2650 resistance first and went up all the way to 2720. From 2720, it dropped almost non-stop below 2650 again. Eventually, we have a pin bar on 2W TF. This signals a strong move ahead. I am expecting a very heavy fall next week, maybe all the way to 2500 and below. I will engage mostly selling orders next week in...

SteadyFund

As mentioned yesterday, gold was facing 2720 strong resistance. Indeed, 4hrly double top was formed and it dropped hard. Price is now trading at 2680. I don't see a sign of reversal or correction. And also in my weekly review, I do believe gold is now bearish in medium term. I am expecting in Asian session, it drops to 2660 and accumulate there. Then further drop...

SteadyFund

Gold is facing a strong resistance here at 2721 right now. However, it is still strongly bullish. So i won't take any chance to short yet. Will buy from 2700 level and targeting first 2721. If 2721 gives away, we could see 2760.

SteadyFund

Gold indeed pumped towards 2700. Right now the price is just below 2700. If broken, we may see 2715 touched. However, if 4hr candle prints a red one, gold may retrace to 50% Fib level at 2678 and go up from there. Let's see what the market will provide us.

SteadyFund

Gold has indeed made a big move yesterday despite not according to my prediction. It broke 2655 resistance and tested 2675. Therefore, I am switching my strategy to buying dips. Will look for buying opportunity from 2655 support. Targeting 2712.

SteadyFund

As explained in my weekly forecast, I am expecting a big drop today. The early surge is purely due to global tension. I am looking for PA around the trend line retest which is should be 2650 area. First target is 2600, 2nd is 2560.

SteadyFund

Despite NFP events, gold was still trading in ranges (2620-2650) without any break out. My view on gold in weekly TF is still bearish. 2D and D is also bearish. I expect heavy drop is coming on Monday. But probably with an initial surge on Asia session first. Let's be patient and wait for clear signal to sell.

SteadyFund

Gold never broken the 2655 resistance. Instead the supporting line was invalidated. A continuation of the downside fall is expected. However, usually NFP will deliver surprising result. I will not trading on US session. Let's see what the market will provide us.

SteadyFund

Gold is preparing for a big move. A rising triangle has formed in 4hrly TF. A break above will pump gold to higher level. ATH is also possible. However, today is NFP day. Anything could happen. I will wait for the breakout and retest to confirm the move.

SteadyFund

Gold has been stuck in range. Although daily printed a red candle the day before yesterday, it didn't come with a significant down fall. When things are not clear, i will look at Silver for direction. Clearly, silver has completed a full Elliot wave in 2D TF. It is now in strong bullish region. For gold in 2D TF, it just printed a red candle, price could drop to...

SteadyFund

Gold didn't try to touch upper level of the channel again yesterday. Instead, it directly melted down to 2620 level and went back up to test the lower line of the channel. This signals a strong bearish movement. Price could reach 2580 today or even lower.

SteadyFund

Gold is going to melt soon as predicted in my weekly summary and forecast. However, it is now trading within a rising channel. It could test the upper level of the channel first around 2670 then start to drop heavily. Let's see the price action for today.

SteadyFund

Gold has been moving slowly in the final two days of this past week due to holiday in US. With an initial 1000 pips drop, it has entered into accumulation phase, which signals heavy selling continuation in the next few days. Both monthly and weekly TF show bearish signal. However, daily candle is still not yet red. I am expecting a initial spike up due to...