As I have said many times, There is no reason to guess at a top when something is trading in unchartered waters (i.e. record highs) until charts tell you there is a reason to do so.”
Price above 50 EMA, stochastic crossover below 20%, stop loss at half the 14 period ATR and take profit at 2 ATR, win probability 30%, very high positive expectancy
US equity futures & Bonds lower as markets digest Trump tariffs, Fed Chair Powell due
Good morning USA traders, hope your day is off to a great start! Here are the top 6 things you need to know for today’s
6 Things You Need to Know
US President Trump signed proclamations to reimpose a 25% tariff on steel and aluminium imports and declared there are no exceptions or exemptions, effective March 12th.
US President Trump said they are looking at tariffs on cars, pharmaceuticals and chips and will hold meetings over the next four weeks, while they will do reciprocal tariffs over the next two days; Trump also commented that tariffs on metals could go higher and he does not mind if other countries retaliate.
US President Trump is expected to sign executive orders on Tuesday at 15:00EST/20:00GMT.
European stocks are indecisive as markets digest the latest tariffs; US futures are modestly lower.
DXY is a little lower but with price action contained as markets brace for more trade turmoil.
Bonds reel as Trump hits steel, BoE’s Bailey and Fed’s Powell are set to speak; crude gains whilst metals take a hit.
Hi all, there is a temporary pull back on the xau/usd (gold), from price 2942 to the present price at 2901. This is a support line as market can pull back up (buy) from here and return to its former buying position. If we are on a sell let’s not sleep there thinking it will continue its bearish movement for long.
Brace up, market might soon start buying again on the Gold. Enter your Trades with caution of 2-5% risk of capital. A word is enough for the wise!
Lock me up and throw away the key if I say charts show potential for a XAUUSD top or at least a pause and a time out to collect its breath given the strength of the trend.
Well, that is what this chart is showing
– Pause or just a breather as long as the 2942 high stays intact.
– Risk of a shift in directional; risk towards a retracement if 2920 holds on top and is followed by a break of 2896.
– Otherwise, it is just taking a breather with 3000 on its radar as long as it trades above 2896..