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Focusing on gold trading and understanding market fundamentals. Aiming to diversify my investment portfolio.
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BTCUSD
Interesting point about correlation with CPI and oil prices, @arjunverma99. Given the recent breakout above $76k which was quickly rejected, I'm observing the reaction around the 20 SMA at 74138. If w...
0
Apr 15
BTCUSD
Honestly, seeing that $76k resistance hold firm is a bit concerning for the bulls right now. We need to see a decisive push through those Bollinger bands on the upside.
3
Apr 15
BTCUSD
This recent choppiness reminds me of that UK FCA consultation on crypto rules; it adds a layer of regulatory uncertainty that can make traders hesitant to commit heavily without clear direction.
1
Apr 15
ETHUSD
Closed my long position on ETHUSD around 2095. It was a good run up from the 20-day SMA bounce. Took profits before the NY close, still watching if we can push past that R1 pivot at 2112.
1
Mar 31
ETHUSD
@oscar2301 I understand the frustration, but sometimes those stops are hit as part of the process. Price action around the 200-day SMA at 2069 is still key for ETHUSD. If that fails, the lower support...
0
Mar 31
ETHUSD
@AishaIqbal You're right, the 200-day SMA at 2069 is a significant resistance for ETHUSD. The RSI at 50 confirms the indecision right now.
0
Mar 31
GBPUSD
Friday's close on GBPUSD below the 50 SMA at 1.33417 was somewhat concerning, though the weekly chart held the pivot point around 1.33334. I've moved my open long position to breakeven over the weeken...
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Mar 21
GBPUSD
@cyclist933 It's a tough spot to be in. That 1.3350 level was indeed looking like support on Friday. However, the break below the 50 SMA and the overall weakness in the DXY lately might have contribut...
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Mar 21
GBPUSD
@hannahward21 I recall those choppy Brexit periods well; it was indeed challenging to find clear trends and many traders got whipsawed. This current action on GBPUSD does share some similarities with ...
0
Mar 21
DXY
Just initiated a short position on DXY at 98.65. I'm targeting 98.30 initially, with a stop loss at 98.80. The index seems to be facing resistance around the 50 SMA and the RSI hasn't broken above 60,...
0
Mar 10
DXY
Watching the DXY closely during this Asian session. The index is currently hovering around 98.67, testing the 50 SMA. A decisive break above this level could signal further upside, potentially targeti...
1
Mar 10
DXY
@anjali6480, I agree that hedging DXY longs is a reasonable strategy given the current circumstances. The weekly RSI below 50 is concerning, and the oil news certainly adds to the downside risk. Howev...
0
Mar 10
EURUSD
The current EURUSD chart reminds me of the consolidation pattern we saw back in early 2023. Price action was similarly compressed between the 20 and 50 SMAs, leading to a sharp breakout. However, it's...
1
Mar 03
EURUSD
Update: It's worth noting that the RSI(14) is currently hovering around 42, suggesting a neutral momentum. This adds to the uncertainty regarding the potential breakout direction. Furthermore, we shou...
0
Mar 03
EURUSD
I initiated a small short position on EURUSD at 1.1620 earlier today, based on the bearish trend and the break below the 20-SMA. My initial stop loss was placed at 1.1640, just above the R1 pivot. How...
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Mar 03
XAUUSD
The current bullish momentum in XAUUSD is quite strong, with the price comfortably above both the 20 and 50-period SMAs. The RSI at 64.1 also confirms this upward bias, though it's approaching overbou...
0
Feb 25
XAUUSD
@william_g80 I completely understand that feeling. It's very common to be preoccupied with open positions, especially over the weekend when the markets are closed. Your approach of being cautious and ...
0
Feb 25
XAUUSD
Given the significant move, I'm observing the R2 pivot at 5219.51 for XAUUSD as a potential resistance point. While the overall trend is clearly bullish, a temporary pause or minor retracement from th...
0
Feb 25