Still watching where this goes. I'm trying to get better at looking at bigger picture vs relatively small moves based on small news.
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Though initial jobs reports are positive the markets are still very highly maxed with news yet to come that will affect the indexes. Moving them lower (tied with move in the dollar) will have a greater impact on Gold's direction.
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Stoch RSI lingering in oversold and might send it back up to the top of channel Or, this is just based on initial news, and when actual news comes out, it breaks lower?
It's technically still in our channel. Oh well. Here's a possible HS and 2 different directions wether it is or is not. Also could double bottom here.
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Jobs report finally pushed a decision in gold and markets. Now we're back to waiting for more news on rate hikes as well as financial uncertainty on a global level.
I'm not jumping based on news but rather practicing charting and patterns.
Had a small short after news gave direction in gold. Then a small long while it retraced. Then out. Now watching and waiting for a signal.
Oh it chose a direction alright. But the news, technicals and noise makers in media (and in chat) all had their opinions. I rode out my positions, scalped with minis and did fine. I still want to better separate my long-term longs and my short-term shorts... that's more of working better with my new broker system.
Though initial jobs reports are positive the markets are still very highly maxed with news yet to come that will affect the indexes. Moving them lower (tied with move in the dollar) will have a greater impact on Gold's direction.