[michael Calif]

futures traders remain Short Gold, per Aug 2    :gtwo3

[Belgrade Bobby]

Hi Adegold – Welcome.

Feel free to ask any question you might have, no matter how basic it might sound…

More you ask, more you’ll learn 😀

[Winner Ipokia]

Hi my name is Adegold, I want to learn forex trading

[Belgrade Bobby]

XAUUSD – Gold

Supports : 2380.00 & 2370.00

Resistance : 2405.00 , 2425.00 & 2435.00

Look at the chart : if it closes this bar ( 55 min) below 2390.00 , we’ll see the test of that support line below 2370/2380

But if it closes above 2395.00 we’ll be shooting for 2425.00

[Mtl JP]

Is kirby a political trade ?

brent is on the uP a bit and GOLD is steady

[michael Calif]

traders remain Short Gold futures, per Aug 2    :gtwo3

[Mtl JP]

IMMINENT

“President Biden and Vice President Harris were told by their national security team on Monday that it is still unclear when Iran and Hezbollah are likely to launch an attack against Israel and what specifically the attack might entail, three U.S. officials told Axios.”

Oil is off some at 75
GOLD is off some at 2396

[Mtl JP]

Headlines digest
and, allegedly, “the biggest problem”
–
Reuters Futures recover on positive Fed rate remarks

Japan Officials Strive to Restore Calm After Market Whipsaws
(Bloomberg) — Japan’s government and central bank sought to show a united front and restore calm to financial markets, after blablabla

JPMorgan Says Unraveling of Carry Trade Is Only Half Complete
(Bloomberg) — The recent unwinding in carry trade has more room to run as the yen remains

Stocks still have the same problem after a wild Monday in markets: Morning Brief
The stock market was rocked Monday, but a third straight day of selling pressure didn’t change the biggest problem for investors right now: the Federal Reserve. (hahahahaha, rofl)

(Bloomberg) — Buying US stocks after a slump of the scale witnessed over the past month has usually been profitable, according to a Goldman Sachs Group Inc. analysis of four decades of data.

Since 1980, the S&P 500 Index has generated a median return of 6% in the three months that followed a 5% decline from a recent high, according to the Goldman strategy team led by David Kostin. The benchmark has slumped 8.5% from its mid-July peak.

“Corrections of 10% have also been attractive buying opportunities more often than not,” although the track record is not as strong as after a smaller drop, Kostin wrote in a note. Returns after a 5% decline have been positive in 84% of episodes, the research shows.

[Mtl JP]

“key data this week”

—

Well … “Putin’s Top Defense Officials Are In Tehran Amid Countdown To Zero Hour

And US CENTCOM chief is in Tel Aviv” … – zh

So here is the known known :   they are talking
And the known unknown:  we don’t know how belligerent their talk is.

So as long as they are only talking there is little opp for profit from geopolitical risk

I have alerts on gold and crude.

[SF Monedge]

You could see this coming a quarter ago with the variance in commodities vs stocks and the politicization of the FED resulting in questionable management/mis-management of rates.

The prior Asian session saw the worst drawdown in Asian stocks since the Fukushima nuclear facility meltdown in 2011.  Asian stocks have seen the worst 3 day route on record.

Earlier in the year, corn dropped to the lowest price levels since 1974.  Commodities have been showing disconnect with some imaginary gold medal economic performance touted by politicians.  The reality is something very different.

There has also been Natural Gas only recently saw record high levels of gas for power generation in the US, which was politically hamstrung the prior 3 years to nearly zero output growth in various respects.  Natural Gas production dropped to the lowest levels since 1990.  Demand only moderately declined and will increase as will price.  The lack of production became a genuine national security weakness of substantial weight until now.  As were oil leasing permits.  There is a considerable difference between leases and actual permits.

Gold rose in contrast to other commodities due to geopolitical structural malaise.  Basically, the people in charge are a mess and so are their cheerleaders.

US Rates should have seen a .25 reduction 2 meetings ago.

I see the S/P 500 possibly declining 200-300 hundred points further before stabilizing.  The only real rotation in stocks has been to MSCI emerging and Russel type low cap stocks in the search for growth.

That equates to more risk off environment overall for a bit further.

1.       There will be no emergency rate cut.

2.      There will be no .50 rate cut.

3.      There will be a .25 rate cut in September.

4.      There will be no rate hike.

Performance Grade on current political and finance officials:   D.

[Belgrade Bobby]

Gold 1h chart

See how I draw it…

[Belgrade Bobby]

David, GBPUSD :

–          Add Channel/Parallel lines to these two extremes – Low and High – this can be just a channel widening , so for now treat it as such.

–          As this is 15 min chart, extremes can come as a result of a bigger time frames, like 1h or 4h charts – so check it out

–          So you did everything just fine – always expect additional mess…

 

Gold :

This one you draw perfectly !

I would just instantly add a parallel line ( of inner channel ) on those 3 previous lows – always look for extension possibility and pay attention did any bar closed below the support trendline or not.

As for taking a position – we’ll have to learn how to use these charts in our favour .

Sell was appropriate on the break of that inner trend line

[GVI Forex 2]

Current scorecard as recession fears take over

Winners: JPY, EUR, CHF

Losers: GBP, AUD, NZD, STOCKS, BTC, GOLD, OIL

Unchanged: CAD (after earlier fall)

[Ab hk]

mkt is readjusting the golden colour heaven to yenful colour heaven.

Gonna be a nasty one. Good luck.

[Belgrade Bobby]

XAUUSD –Gold Weekly Chart
Supports : 2415.00 , 2390.00 & 2295.00

Resistances : 2485.00 , 2525.00 & 2615.00

Gold is in a Very Bullish Formation, but…. continue reading 

[Mtl JP]

Early sunday ahead of week trading opening

AXIOS – us news portal whose Greek name means “worthy”
Soooo …. fwiw, are U prepared to trade :

Top U.S. general in the Middle East as U.S. and Israel prepare for possible Iran attack – axios

“Three U.S. and Israeli officials said they expect Iran to attack Israel as early as Monday.”

On Saturday, President Biden was asked by reporters whether he thinks Iran will stand down.
“I hope so. I don’t know,”, he said.

sleepy joe may not know (surprise?) BUT
GOLD and / or Brent know

[michael Calif]

futures traders are Short Gold    :gtwo3

[Belgrade Bobby]

XAUUSD – Gold

If it manages to close tonight above 2420.00 ( and opens on Monday as well – so without a gap ), it will have another chance to test the previous high and continues up.

However, close below 2400.00 would be quite bearish…

I have mentioned a possibility of double top day ago, and Monday will give us the answer….

[Okwudili Divine Abuja]

I don’t know if xauusd and usdjpy act opposite me because in today’s market gold was bullish why the USD jpy was burished and they are chat look almost the same

[michael Calif]

traders have reversed to Short Gold futures    :gtwo3