I think so too, very well supported at 1830, and will probably eventually drop after going up later with the FOMC minutes (DXY sell-off and then buying, aka good ol' "buy the rumour sell the fact").

Gold

Thank you Jordi, Aahmad and BabaYaga, good luck with today, let's see if the FOMC minutes has much impact, I know Friday'a PCE readings will be important. I love scalping/swing trading, found my groove in that.

Gold

Awesome, I'm thinking the same, as Gold will be reluctant to go up, except if the Dollar starts to struggle, which is not the case recently, it is just this Presidents Day that's allowing it to be bought, or the Dollar to stall/consolidate, until ...

Gold

By the way, nice chart, just wanted to ask, what is the price range if the blue-targeted price area? Looks like it could be 1855-1860.

Gold

I also have a Buy in, for 1845, TP set to 1850, although we might touch the 50-DMA, around 1855 today, and then get heavy rejection, and thus long daily wick, and then start descent tomorrow when Dollar and US session in back in force, as well as ...

Gold

Ugh, seems like I was really wrong, sorry guys...

Gold

Now we wait for New York session to push Gold back down again, hopefully it will, especially after the massive wick & rejection of 1830 recently.

Gold

We could well, Janus, as Selling pressure is apparently increasing too. Glad to see someone else here is also from ZA. Lekker!

Gold

I concur, even though I've never been keen on Fib'ing. So now we've touched 1927 (well almost, 1827.58, to be precise, BabaYaga), perhaps we are getting oversold and it is time for a bounce or correction...

Gold

I believe if it stays this way with the next hour candle, then we're possibly correcting/retracing upwards

Gold

I was also surprised. but as ForexGoose usually say, wait for the next 15 to 45 minutes, then we'll see what happens.

Gold

Well done! I think we'll either see a push down to 1825, then back up, or further south to 1800, and then sharply back up. If 1800 doesn't hold, well, then the 200-day SMA it is!

Gold

We had quite a display with Gold now! Now it is resting in the middle of the long wicks going both directions, so we all are wondering if will break 1850 or not, seeing as the level is holding very well, and the data results were mixed, but leaning ...

Gold

ditto, it touched 1850, and if staying above 1856, (50 day EMA) we can assume it's a good buying opportunity?

Gold

Thtank you, Babayaga for your heavily technical insight! So it could go down to 1823, that's a good place for finding value and start a rally to 2000 again, otherwise 1800. Lower than that and we are in a possible reversal again

Gold

where will TP be? 1890? Chancy, but I can see why you would do that, good luck man!

Gold

In the long run, maybe H2 or Q3 this year, but not soon, I mean there's plentiful resistance to get through, and US data in general is stronger than most, I think we still have to go down to test 1860 again (daily low, maybe even weekly low now), ...

Gold

Now we wait for the drop.

Gold

...And there gold skyrockets back up to 1977, almost 1880... Ranging nicely today? Maybe the dollar's being sold off before being bought like hell after the Powell speech, as I am sure he will be ultra hawkish...

Gold

Awesome analysis Aahmad! Now Gold is testing the 1971 line again, hopefully this time support-turned-resistance

Gold