XAUUSD MARKET OVERVIEW
GOLD declined even further today creating a new low on the daily but since has had a bullish pullback. I expect GOLD can go in any direction at the moment as we have 3 major driving factors. DXY, FED HIKE RATE and EUROPE WAR.
To me it makes sense to have a large correction on the high time frames (weekly and monthly) before we see the next move. Price should be factored in for the next hike rate so I believe DXY will drop but I believe GOLD will drop at the same time. GOLD needs that deep correction to avoid a large scale melt down from the highs. I would be very interested in shorting GOLD should the set up come through but I will be even more interest in buying from the blue box ;)
Make sure you follow the link below!
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Pip count this week 💰🏆
WTI SHORT / 74 pips ✅
GBPUSD LONG / -26 pips ❌
WTI SHORT / 185 pips ✅
WTI SHORT / -10 pips ❌
GOLD BUY / 70 pips ✅
GOLD SELL / 170 pips ✅
WTI SHORT / 200 pips ✅
GOLD SELL / -30 pips ❌
GBPUSD SELL / 67 pips ✅
GOLD SELL / 30 pips ✅
WTI SHORT / 60 pips ✅
WTI SHORT / 130 pips ✅
GBPUSD SELL / -30 pips ❌
GBPUSD SELL / -15 pips ❌
WTI SELL / -70 pips ❌
15 trades taken
9 wins ✅
6 losses ❌
60% win rate
Combined from the communities this is 805 pips which is an outrageous way to close out the month!🤯
GOLD declined even further today creating a new low on the daily but since has had a bullish pullback. I expect GOLD can go in any direction at the moment as we have 3 major driving factors. DXY, FED HIKE RATE and EUROPE WAR.
To me it makes sense to have a large correction on the high time frames (weekly and monthly) before we see the next move. Price should be factored in for the next hike rate so I believe DXY will drop but I believe GOLD will drop at the same time. GOLD needs that deep correction to avoid a large scale melt down from the highs. I would be very interested in shorting GOLD should the set up come through but I will be even more interest in buying from the blue box ;)
Make sure you follow the link below!
-------------------------------------------------------------------------------------
Pip count this week 💰🏆
WTI SHORT / 74 pips ✅
GBPUSD LONG / -26 pips ❌
WTI SHORT / 185 pips ✅
WTI SHORT / -10 pips ❌
GOLD BUY / 70 pips ✅
GOLD SELL / 170 pips ✅
WTI SHORT / 200 pips ✅
GOLD SELL / -30 pips ❌
GBPUSD SELL / 67 pips ✅
GOLD SELL / 30 pips ✅
WTI SHORT / 60 pips ✅
WTI SHORT / 130 pips ✅
GBPUSD SELL / -30 pips ❌
GBPUSD SELL / -15 pips ❌
WTI SELL / -70 pips ❌
15 trades taken
9 wins ✅
6 losses ❌
60% win rate
Combined from the communities this is 805 pips which is an outrageous way to close out the month!🤯
