GOLD, Gold and XAUUSD - page 12

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Yurii Kostin:
For me, gold is a more adequate instrument than currency.)

Exactly the same as corn, pork and the yen.

 

In short, I don't do fortune-telling, I work according to the situation, see certain events and make decisions. I will try to put a couple of posts here, in case somebody will be interested. I trade only futures on gold. I trade both intraday and mid-term. Most often it is intraweek.

At the opening of the European session there was a series of events, which set the trend for intraday movement. There was a good series of accumulative deals on Ask (small yellow diamonds), plus a change of direction of the intraday high-frequency trades. The cumulative trades took place in small lots, but in a series. In the current situation, it is a pure short position, which carries certain targets. Target 1320-1316. Further Hz, 1320 has already been accomplished. Need to watch and observe. I repeat, I am not engaged in guessing, I watch the current situation and make decisions.

 

The correction movement took place to the expected 1320-1316 area. Yesterday the systematic bid-askers worked very clearly and powerfully, pushing the price to the 1342 area. Over the past day the OI grew +10k on the futures.

At the moment we have to wait. On the whole, the current situation is still long. We need to wait for a breakdown of bids stops and a set of breakers to shorts, it will give the reason for further movement to long. Targets to enter the long in the 1332-1329 area.

 

Down in the expected range occurred, there were no deals and confirmations we needed. We went lower. Breakdown of stops occurred, much lower than on March 8 and 9. Good bid deals were accumulated. On Friday, in the second half of the American session, the entire balance of bid deals has equalized. Alas, gold is in a range. There is no point in predicting yet. Gold is getting ready to move, we have to wait until March 21. The Fed rates, plus there's an expiration of the options contract on March 26 not far away. The gold in the range of 1315-1300 caused a huge interest in the current option contract, but lately there is a gradual reset and a move to other contracts, which tells us that the growth is possible, but not until March 26.

 

At the current moment in time there is preparation for breakdown of level 1307-1304. Active system participants are working on the breakdown of the current day's min. and further down. A move down will be a rebound for a further hike higher to the 1350-1400 area. We need to wait for the Fed and the end of the option contract.

 
Yuri, what are these "funny pictures"? What is the purpose of your posting them? How do you interpret them?
 
Alexander Sevastyanov:
Yuri, what are these "funny pictures"? What is the purpose of your posting them? How do you interpret them?
These are not funny pictures. These are market data drawn up in a graphical form. Each element of these figures is the deals, which have a certain character. That's what I analyze to make decisions about entering or exiting deals. Looking at the current situation, we can say with a good accuracy what is going on at the current moment by the instrument. Take yesterday's movement of gold. Someone may say that it's spontaneous. In fact, it is the result of preparation. This is why I'm posting these pictures with a brief plan to action, perhaps someone will be interested in this or find a really successful trader to add to our general chat.
 
Quite professional pictures, it's good that you share this information with us.
 

The beginning of the upward trend is being drawn, but there has not yet been a celestial signal for the high period.


Although there is


 


Time to buy?

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