Yeah, i actually expected if gold will do rebound on 29 Nov 2022.
But i didn't expect that it will go in a reverse direction.
So, basically in order to forecast the market you must know 3 aspect
1. Fundamental > The cause of effect (it's main correlation and macroeconomics aspect)
2. Technical > The main idea (stochastic, fibonacci, SnR, smart money concept)
3. Timing > The most people don't have idea (financial astrology)
If all 3 aspect is toward the same direction...it will be a super accurate forecasting method.
But now, it is going super fuzzy when the market is manipulated.
When the fundamental asset of gold, which is USD is rising since the fed is hawkish, gold is unexpectedly rising too. Which is doesn't makes any sense.
When the technical analysis of gold is definitely bearish overall, it is just kinda don't want to go down
(stochastic 5,3,3 going down, but chart pattern is going up again)
When the timing is more likely to go down, gold is stagnant at 1750s level with really long wicks (more than 100 pips). Which causing people have a margin call
Now, those 3 aspect is just really counter-intuitive each other.
according to fundamental it's going down.
according to technical it's going up/down.
according to timing it's going up
So, i don't know anything this time. But i assume it will go down around 1740, then suddenly going really high up to 1773
Hey gold lord...please give us some moneyyy..
Cheers, H. Haidar
But i didn't expect that it will go in a reverse direction.
So, basically in order to forecast the market you must know 3 aspect
1. Fundamental > The cause of effect (it's main correlation and macroeconomics aspect)
2. Technical > The main idea (stochastic, fibonacci, SnR, smart money concept)
3. Timing > The most people don't have idea (financial astrology)
If all 3 aspect is toward the same direction...it will be a super accurate forecasting method.
But now, it is going super fuzzy when the market is manipulated.
When the fundamental asset of gold, which is USD is rising since the fed is hawkish, gold is unexpectedly rising too. Which is doesn't makes any sense.
When the technical analysis of gold is definitely bearish overall, it is just kinda don't want to go down
(stochastic 5,3,3 going down, but chart pattern is going up again)
When the timing is more likely to go down, gold is stagnant at 1750s level with really long wicks (more than 100 pips). Which causing people have a margin call
Now, those 3 aspect is just really counter-intuitive each other.
according to fundamental it's going down.
according to technical it's going up/down.
according to timing it's going up
So, i don't know anything this time. But i assume it will go down around 1740, then suddenly going really high up to 1773
Hey gold lord...please give us some moneyyy..
Cheers, H. Haidar
Trade closed: target reached:
Yep, as expected. It reversed at 2 December 2022
Closed with profit 1772 - 1806
Closed with profit 1772 - 1806
Testing 1763 fibonacci extension 1.382 @ 1763
Heading 1773, and possibly reverse at 2-3 December 2022