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Gold Price Looks for UPTREND * Gold Price Movement: Gold prices are uncertain and fluctuating. * Upcoming Data Release: The market is waiting for the US core PCE price index data for November. * Fed Bostic's View: Atlanta Fed President Bostic sees no urgency for interest-rate cuts, emphasizing the strength of the US economy. * Fed Barkin's Approach: Fed's Barkin is data-dependent for rate cuts in 2024. * Current Gold Price: Gold is trading around $2,040. * Inflation and Interest Rates: Inflation is expected to soften with higher interest rates by the Fed. * Investor Optimism: Investors are optimistic about future rate cuts in 2024, despite warnings from the Fed about maintaining restrictive interest rates. * Divergence in Projections: Bostic's view contrasts with the median projection of three rate cuts, creating uncertainty in the market.
OANDA:XAUUSD
by tradewith_ritik
An interesting week of short covering.A week to remember the huge gap down and recovery. Tomorrow's expiry is going to influence multiple news. Let's see where the nifty is going to expire tomorrow. key levels to watch out for above the 200EMA and 16750 as the first levels to keep an eye on. down side 16150 and 16000. It was a week to remember because I had been carrying a position Friday. I sold 17200CE and 14900PE at a good premium. Then on Monday, the roller coaster ride began with a huge gap down. I was rolling my CE to 16800 and book profit. Yesterday, I rolled again to 16600CE, PE side. I kept holding on and nifty started moving up. It was a nice move. PE started green. I have a16600 CE side, but it looks like a good position. such a sharp move today the CE shoot up i keep roiling my PE to 15250PE and 15000PE. book profit, but such a sharp move 16600 eat all the profit now at no profit and no loss state. Currently, I have 16600CE and 15700PE. I will have to firefight to adjust the position. Let's see how it ends this week. I am planning to exit the CE only after crossing 15550. I will keep rolling my PE side to 16100 and 16150. Let's see how it is going to end this week. If such an out of the world premium spikes, then I will exit my position with minimal loss.
NSE:NIFTY
by Manuadarsh
Exit is more important than entry! NIFTY at 17750.It is a properly trending market and interesting as an option seller like me has to put so much work into it, not to make money but to protect the capital. That is what option sellers do. Looking at the chart, the Nifty now at a discounted price exactly took support at 17650. It is a major level because 50 EMA is there and a fib line. Let's see how it is going to react to nifty inflation worries and global clue. Coming to my option, I was kind of proud of that position, till Nifty Broke 17770 (1 PM) . One it being taken out, just wash out my green P & L. 17750 premium spike a lot. In the meantime, I booked my call position and exited with a near 1% loss. You know, like I protect my capital well. On the call side, 18150, 18100, 18050, 17900, one point I sold, 17850, and ended up with a lot of positions this week only because of 17750PE.We have one more expiry for the month. This month was not that great for me. I hope everyone had a great month. Let's get to the last day of the month to end this month with just 1%.
NSE:NIFTY
by Manuadarsh