Gold 2024 Commodity BOOM! (ECM) 🚀

[CGETrading]

Gold is pushing higher and support is moving up as we head closer to WW3. The next bullish reversal stands at 2048.

Armstrong Economics: Germany Deploys Troops To Lithuania

Edited December 20, 2023 by Carl-Gustav

[MongiIG]

 

[CGETrading]

This topic is now closed. I am no longer active on this forum.

Good luck to all and a happy new year! 🎇

[DanielBrewton]

I don't know much about intricacies but the overall picture does looks good.

Recently saw this article Gold Price ups and downs in 2024

Lets see how it goes. 

[CGETrading]

Today is NFP ... and I think gold will rally, because of the migrants that are flooding the US. This should correlate to a lower NFP value.

From a technical perspective, gold is setting up for a rally!

 

[CGETrading]

Bureau of Labor Statistics (BLS) once again released FALSE numbers (on NFP), to no surprise, as the US government constantly lies about everything.

You can read more about the BLS false reports here:
https://www.armstrongeconomics.com/armstrongeconomics101/economics/bureau-of-labor-statistics-fabricated-one-third-of-newly-created-jobs-in-2023/

Regardless of the NFP/BLS BS reports, gold has droped to major support, which currently lies at 2029: highlighted by the lowest MIDAS Curve in the picture. This is the level price need to break before going any lower. This is also a good buying opportunity!

[MongiIG]

4 hours ago, CGE_Trading said:

Today is NFP

Thanks for sharing @CGE_Trading

US Dollar Jumps After NFPs Smash Estimates, Gold Slumps
Feb 2, 2024 3:56 PM +02:00 | Nick Cawley, Senior Strategist

The latest US NFP release showed the US jobs market in rude health with 353k new jobs created in January compared to forecasts of 180k. Last month’s headline figure was also revised higher to 333k from 216k. The closely watched unemployment rate remained steady at 3.7%.

The US dollar was on the backfoot going into the Jobs Report as recent demand for US Treasuries sent their yields tumbling. Renewed US regional banking fears – shares in New York Community Bancorp slumped by around 40% on Wednesday – drove haven demand, leaving the greenback vulnerable to the downside.

NEW YORK COMMUNITY BANCORP DAILY PRICE

The US dollar index jumped around 50 ticks after the release hit the screens, reversing all of today’s earlier losses. The greenback remains rangebound, for now, but may soon test the 103.83/85 double highs seen over the last couple of weeks. US rate cut expectations pared post-release with less than a 20% chance now seen of a cut in March – from 35% before the release – while May expectations are now 77% compared to a high 80s earlier.

US DOLLAR INDEX DAILY CHART

Gold’s recent grind higher was quickly reversed after the 13:30 release. Gold tagged $2,065/oz. yesterday, before paring gains. Gold currently trades at $2,033/oz. and is sitting on a prior level of horizontal support and both the 20- and 5-day simple moving averages. A break below here bring $2,009/oz. back into play.

GOLD DAILY PRICE CHART

What is your view on Gold – bullish or bearish?

[CGETrading]

We are approaching a possible temporary high tomorrow 03/12.

The trade cycle composite is highlighting 03/12 for an ideal high, and only 11% fuel remains in the uptrend.

Lets see if these two align!  
 

[CGETrading]

On 11/03/2024 at 11:26, CGETrading said:

We are approaching a possible temporary high tomorrow 03/12.

The trade cycle composite is highlighting 03/12 for an ideal high, and only 11% fuel remains in the uptrend.

Lets see if these two align!  
 

Potential drop in 7 min...

[CGETrading]

7 minutes ago, CGETrading said:

Potential drop in 7 min...

my bad, 1 more hour.  Got the GMT mixed up.

Edited March 12 by CGETrading

[CGETrading]

On 11/03/2024 at 11:26, CGETrading said:

We are approaching a possible temporary high tomorrow 03/12.

The trade cycle composite is highlighting 03/12 for an ideal high, and only 11% fuel remains in the uptrend.

Lets see if these two align!  
 

Easy money!  MIDAS Top-Finder accurately predicted the high.

BTW, all my tools will be available for purchase (only $30) on MQL5.com next month!

Edited March 12 by CGETrading

[CGETrading]

Examining the monthly timeframe of gold, I observe that the price is nearing cyclical resistance. Currently, the price is also positioned above the breakline, and a close above this level by the end of the month will likely challenge the resistance level in the following month. 🚀

[CGETrading]

Unless we close above both the breakline and resistance level this month, then gold could really take off!***

[CGETrading]

MAJOR XAU/USD (GOLD VS US DOLLAR) UPDATE!

We are 6 days away from May 7th, which is the ECM target and April has just concluded with a close ABOVE the monthly BREAKOUT LINE! This indicates that gold is READY for its commodity boom! 

#BUY BUY BUY

Indicator (EA included):
Breakout Lines MT5: https://www.mql5.com/en/market/product/97201
Breakout Lines MT4: https://www.mql5.com/en/market/product/80143

Edited yesterday at 12:23 by CGETrading