Backtesting for 9 Dec (Fri): Gold
Technical Analysis:
NO 1: SELL (87 PIPS)
Price respect the H1S Strong Resistance + M15 QMS + M5 R (1797.86 - 1796.52) and went short fgor 87 pips. It breaks the H1 Support (1793.27). Trend is downtrend.
Time: 13:30H (Tokyo Sesh)
NO 2: BUY (154 PIPS)
Price reversed at H4 RBS + H1 Strong Support + Precise M15 Demand Area (1789.40 - 1788.58) and went up for 154 pips. Price break 2 of H4 Resistance (1795.72 and 1796.51). The trend has changed to bullish.
Time: 17:30 (London Sesh)
NO 3: SELL (141 PIPS)
Price spike sell 141 pips within few minutes during the high impact Core PPI news! Price was in consolidation trend at lower time frame in zone H1 QMS (1804.23 - 1803.52)
Time: 21:30H (US Sesh)
News: Core PPI - Good for currency
NO 4: BUY (158 PIPS)
After news, the price will go back to it's original trend, which is bullish. Price went long for 158 pips from the H1 Strong Support + Precise M15 QMB (1790.72 - 1789.96). It breaks the previous H1 Resistance (1800~), trend remains bullish
Time: 23:15 (US sesh)
NO 5: SELL (112 PIPS)
Price respected the H1 QMS Lekuk + Precise M15 Demand Area (1807.50 - 1805.81) and went short for 112 pips. Price closed above previous H4 Peak/Resistance (1795~). Trend remains bullish.
Time: 00:45 (US sesh)
Fundamental Analysis:
Core PPI - Producer Price Index
~ It measures change in the prices paid to US producers of goods and services.
~Measures of wholesale inflation
~ Its a good indicator of inflation
- To measure economy's health.
The result was good for currency, demand in the producing material is still high, people are still spending. Gold spike down and after news, went back to it's trend.
"The November PPI report suggests the Fed has more work to do before it can claim victory in its battle to tame inflation. U.S. stocks fell and bond yields rose following the announcement, as traders factored in a more hawkish Fed policy stance."
Source: investopedia.com/producer-prices-rose-more-than-expected-in-november-2022-6890136
Total pips for 9 December: 652 pips
NO 1: SELL (87 PIPS)
Price respect the H1S Strong Resistance + M15 QMS + M5 R (1797.86 - 1796.52) and went short fgor 87 pips. It breaks the H1 Support (1793.27). Trend is downtrend.
Time: 13:30H (Tokyo Sesh)
NO 2: BUY (154 PIPS)
Price reversed at H4 RBS + H1 Strong Support + Precise M15 Demand Area (1789.40 - 1788.58) and went up for 154 pips. Price break 2 of H4 Resistance (1795.72 and 1796.51). The trend has changed to bullish.
Time: 17:30 (London Sesh)
NO 3: SELL (141 PIPS)
Price spike sell 141 pips within few minutes during the high impact Core PPI news! Price was in consolidation trend at lower time frame in zone H1 QMS (1804.23 - 1803.52)
Time: 21:30H (US Sesh)
News: Core PPI - Good for currency
NO 4: BUY (158 PIPS)
After news, the price will go back to it's original trend, which is bullish. Price went long for 158 pips from the H1 Strong Support + Precise M15 QMB (1790.72 - 1789.96). It breaks the previous H1 Resistance (1800~), trend remains bullish
Time: 23:15 (US sesh)
NO 5: SELL (112 PIPS)
Price respected the H1 QMS Lekuk + Precise M15 Demand Area (1807.50 - 1805.81) and went short for 112 pips. Price closed above previous H4 Peak/Resistance (1795~). Trend remains bullish.
Time: 00:45 (US sesh)
Fundamental Analysis:
Core PPI - Producer Price Index
~ It measures change in the prices paid to US producers of goods and services.
~Measures of wholesale inflation
~ Its a good indicator of inflation
- To measure economy's health.
The result was good for currency, demand in the producing material is still high, people are still spending. Gold spike down and after news, went back to it's trend.
"The November PPI report suggests the Fed has more work to do before it can claim victory in its battle to tame inflation. U.S. stocks fell and bond yields rose following the announcement, as traders factored in a more hawkish Fed policy stance."
Source: investopedia.com/producer-prices-rose-more-than-expected-in-november-2022-6890136
Total pips for 9 December: 652 pips
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