August is usually bullish for gold. I have been bullish for a week, but until now there has been no confirmation of my speculation. On Friday, the price was heavily manipulated, which gave me the confirmation I needed.
Macroeconomics
Most countries are talking about a future pause in interest rates. Last time the FED raised rates again and most likely there will be a pause in the next few months.
The NFP showed that the labour market is stable and strong, which is still inflationary. But the labour market has been very strong in recent months and inflation is falling.
Next week's focus will be on the CPI.
Top-Down Analysis
Two weeks ago gold was heavily manipulated to the downside. This manipulation suggests strong bears, but on Friday there were bulls in play. This is my indication that gold has made a reversal and will continue to move higher. Until Friday's bullish manipulation is in play, my speculation is that gold will continue to move higher.
We have manipulation not only on the daily timeframe, but on every timeframe. This is strong manipulation.
Benchmark
Based on the benchmark indices and other gold chart, I think gold will go up, at least for a while - reversal or pullback, forming the next bearish swing.
COT Reports
The professionals are still bearish. Add that the fact that the market is not illiquid in August and moves very fast, we have to be cautious.
US Yields
A very strong bearish day, suggesting that yields will fall for a while.
XAUUSD vs Silver
Silver has closed the imbalance from the previous impulse. It should continue to move higher from here.
Momentum
The momentum is changing now, it is still bearish but we know that it is a lagging indicator.
The RSI is in a consolidation but seems to be more bullish at the moment.
Macroeconomics
Most countries are talking about a future pause in interest rates. Last time the FED raised rates again and most likely there will be a pause in the next few months.
The NFP showed that the labour market is stable and strong, which is still inflationary. But the labour market has been very strong in recent months and inflation is falling.
Next week's focus will be on the CPI.
Top-Down Analysis
Two weeks ago gold was heavily manipulated to the downside. This manipulation suggests strong bears, but on Friday there were bulls in play. This is my indication that gold has made a reversal and will continue to move higher. Until Friday's bullish manipulation is in play, my speculation is that gold will continue to move higher.
Benchmark
Based on the benchmark indices and other gold chart, I think gold will go up, at least for a while - reversal or pullback, forming the next bearish swing.
COT Reports
The professionals are still bearish. Add that the fact that the market is not illiquid in August and moves very fast, we have to be cautious.
US Yields
A very strong bearish day, suggesting that yields will fall for a while.
XAUUSD vs Silver
Silver has closed the imbalance from the previous impulse. It should continue to move higher from here.
Momentum
The momentum is changing now, it is still bearish but we know that it is a lagging indicator.
The RSI is in a consolidation but seems to be more bullish at the moment.
Strategy:
-Macroeconomics
-Market manipulation
-Liquidity calculation
-Economic and price action indicators
-MTF Pivot points
*Fundamental analysis
*Technical analys
*Quantitative analysis
Free group:
t.me/serpentforexclub
-Macroeconomics
-Market manipulation
-Liquidity calculation
-Economic and price action indicators
-MTF Pivot points
*Fundamental analysis
*Technical analys
*Quantitative analysis
Free group:
t.me/serpentforexclub