Gold
Gold may have formed a head and shoulders pattern here on the 4H timeframe before the rate decision. Keeping rates higher for longer will likely put a damper on gold optimism as the metal trades directly against the strength of the dollar. What is more important are the forecasts going forward. We will get some insight on where Powell thinks rates should go based on the inflationary and labor environment. To sum this up, less rate cut expectations in the future will be bearish for gold.
-Frank
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Gold may have formed a head and shoulders pattern here on the 4H timeframe before the rate decision. Keeping rates higher for longer will likely put a damper on gold optimism as the metal trades directly against the strength of the dollar. What is more important are the forecasts going forward. We will get some insight on where Powell thinks rates should go based on the inflationary and labor environment. To sum this up, less rate cut expectations in the future will be bearish for gold.
-Frank
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👉 Get the EdgeFinder (30% Off Code: TGVIP)
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Simplify your trading with tools like:
✅ Top Setups Page
✅ COT Data Scanner
✅ Retail Positioning Indicator
✅ Market Sentiment Analysis
✅ Fundamental Scanners (Forex, Gold, Energy, Indices)
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Trading tip of the day:
Great trading doesn't necessarily mean making a lot of money quickly.
It means keeping your drawdowns to a minimum, and consistent growth over time.
Happy Thursday traders!
- Nick
Great trading doesn't necessarily mean making a lot of money quickly.
It means keeping your drawdowns to a minimum, and consistent growth over time.
Happy Thursday traders!
- Nick
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Most traders rely solely on technical analysis, but fundamentals tell the real story behind market moves. 📊
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NASDAQ Daily Chart:
With a strong economy, and institutional money still bullish on tech stocks, I still see more upside as the path of least resistance for NAS.
Fighting this uptrend has been a painful ride for short sellers.
Bullish trigger would be a breakout of this consolidation, and then looking for pullbacks.
- Nick
With a strong economy, and institutional money still bullish on tech stocks, I still see more upside as the path of least resistance for NAS.
Fighting this uptrend has been a painful ride for short sellers.
Bullish trigger would be a breakout of this consolidation, and then looking for pullbacks.
- Nick
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Despite Powell's hawkish remarks, gold is gearing for all time highs once again. Today's GDP numbers came out lower, however. This could likely cause a short term spike in price as it indicates a weaker economy (dollar) with "elevated" inflation, according to the FOMC latest statement. We will see if gold is in a strong enough state to keep notching higher highs in this environment.
-Frank
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-Frank
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Have you ever traded the Russell / $IWM /RTY ?
Anonymous Poll
19%
Yes!
81%
No, but I'd be interested in learning about it
Remember: It's not about the next trade.
It's about the next 1000 trades...
Having an edge does not mean winning every trade!
It's about the next 1000 trades...
Having an edge does not mean winning every trade!
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The crypto market erupted yesterday as Powell mentioned bigger banks should be able to accept crypto clients. The crypto is able to stay elevated above $100,000 as price attempts another run towards the $110K level. The back and forth price movement has made trading difficult as it seems best to just be an owner in Bitcoin. The current presidential administration is aiming to make Bitcoin more popular in the US.
-Frank
-Frank
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Gold continues to run higher with the backing from COT reports who have steadily held the metal at 90% long for two consecutive weeks now. The metal has breached all time highs once again on strong demand with a GDP miss in the US. Investors must not be worried about the Fed indicating higher rates for longer.
-Frank
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-Frank
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The GDP miss seems to be only affecting the stock market negatively. Crypto and gold appear to be taking this in a positive light. This can serve as an indicator that maybe the stock market is the main reactor to Fed and GDP news.
-Frank
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-Frank
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How much do you use fundamental analysis in your trading?
Anonymous Poll
45%
All the time
34%
Sometimes
21%
Not often enough
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