ridethepig

ridethepig | Gold Market Commentary 27.01.2021

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
πŸ“Œ ridethepig | Gold Market Commentary 27. 01 .2021

In the middle of Fed, let's update the Gold chart! Buyers are in the habit of unpinning, by choosing the quiet break of $1,860 and then allowing a quiet congestion to justify this collection of energy based on two premises:

1️⃣ The bottom formation has taken place ahead of the event.


2️⃣ The troops (buyers) which have been brought into play since $1,803 are now going to be rewarded for their bravery, position favours the topside as sellers lose their grip.


I would like to add that the same flows are also in play for Silver , from time to time I am inclined to update the entire charts to keep up with some of the unpleasantness of chop and congestion. This point of view can be seen in:


The above is of course extremely obvious, and by now my dear readers you all know what is in play on the fundamental side. The pandemic worsening is stalling the economic recovery, employment is still way below comfortable levels. Softening demand, and lower CL prices have been keeping inflation down, but for how much longer...?

Thanks as usual for keeping the feedback coming πŸ‘ or πŸ‘Ž

Comments

Hi, nice logical view, but what does it mean : "softening demand" and "lower CL prices" - for us, who don't understand financial slang... :)
+2 Reply
ridethepig sisapis
Sure @sisapis
Reply
ridethepig ridethepig
Softening demand via covid lockdowns, supply bottlenecks and things of this nature and previously lower CL (Crude Oil) prices were push down forces for inflation.
Reply
When win update at the front page,
When loss also need update at front page
Not at the bottom page.
Dont be coward
+1 Reply
Its really a mistake for believing your words to hold gold until 1800..its really a failure..so unbelieveable
+1 Reply
Nice idea
+1 Reply
ridethepig alvinarie
@alvinarie, thank you!
Reply
Hi! Nice chart, but I think that the big 4 is not completed yet and we are again into the sub-E wave of the relative abcde (into an expanding):
+1 Reply
@fra978, checking this
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter