Quick Recap Last week, we looked at Gold, and the bearish stance we took has proven to be correct, as the $1,831 target has been hit. Unfortunately, however, it was a difficult short trade to take because GC only painted red candles after the analysis, thus giving us no entry on a retracement. Moving forward, Read More…
Gold prices tumbled on Thursday as investors evaluated recent US economic data and awaited a crucial inflation report. They also closely watched Washington to see if US lawmakers could prevent a government shutdown. Gold also struggled due to soaring Treasury yields, which hovered near their highest levels in 16 years. This rise followed the Federal Read More…
Price action trading is one of retail trader’s and investors’ most popular trading techniques. It involves analyzing an asset’s price movements on a chart to identify trade opportunities, without relying on technical indicators. Mastering price action can take time, but the basic principles are straightforward enough for beginners to understand. This guide will cover the Read More…
Recap Last week our main focus was on the small triangle formation on the Gold daily chart. Recently, price has broken out of the bottom of this triangle as the bears haven proven too strong. There are a few levels we can monitor at the moment and potential ways to trade this setup so lets Read More…
On Thursday, gold continued its decline for the third consecutive session. This decline was due to a rally in the dollar and treasury yields following a warning from the US Federal Reserve about a potential rate hike. While the Fed kept interest rates unchanged on Wednesday, its updated quarterly projections indicated the possibility of another Read More…
Recap The last time we looked at Gold, we already identified a symmetrical triangle formation on the daily chart that could be the catalyst for a move in either direction. Yesterday, GC bounced off the low of that triangle and could be allowing the bulls to go long. Before we move on to this week’s Read More…
