Gold Petal Futures forum

yesterday

The initial bias remains as we get closer to hitting the target range once again.

- I'm looking at possible resistance at 3860-3850.

- We could be in a W5 of this move, so a consolidation after we hit the top will be expected.

Trust the Fib, Manage your risks

Galadon17

yesterday

Data came in as expected so it is going to be choppy. We do have a bearish rejection/supply around 3785 rejection, but the likelihood of seeing a cascade down at this point is quite low. Going to call it a week, have a good weekend y'all

MyAlgoIndex

yesterday

GC Plan (NY AM): Trade the 3785 flip. Longs only on acceptance above 3785 toward 3811/3825/3839; or bounce long on a clean 3768 sweep-and-reclaim. Fades from 3811–3825 on first touch; breakdown shorts only on 15m body below 3768.
Manage 70/30 at TP1, BE runner, 45–60m time-stop. Data at 8:30 & 10:00 ET — wait for impulse, then execute.

Galadon17

yesterday

Going to be choppy until PCE inflation data comes out.

TheMarketWitch

2 days ago

Bleeding incoming.

kd78tradeup

2 days ago

this a mess here today

Caramel0

2 days ago

current price action suggests a deeper retracement than what I was expecting.

- If we lose current support => 3739.8 support

- Below 3739.8 we have a free fall towards 3680 zone where the POC for the range in the chart is located.

- I'm still holding my bullish bias towards a move inside that 3800+ zone, but we do have to be aware of other possibilities.

Trust the fib, Manage your risks

Galadon17

2 days ago

Hit my TP. Likely to go down a lot further especially if you're swinging. But you never know.

Galadon17

2 days ago

I'd recommend holding onto any shorts that you entered close to the top. If data comes negative, gold can go down quite a bit today. Flipside is that we will be bullish if data comes positive, but the downside reward is much higher compared to upside risk

Galadon17

2 days ago

Could potentially dip below prior NY low, depending on GDP data