ForexPeaceArmy| Sive Morten Daily Gold 04.26.24

Summary

S Morton's daily update on Forex pm.com provides a market overview, focusing on key political and economic events affecting the Forex market. The video discusses the gold market's reaction to the GDP report, noting a minor reaction and lack of volatility around the support area previously discussed. The recent drop in GDP is seen as a positive sign for gold but a negative one for the U.S. economy, suggesting a potential stagflation scenario. The speaker advises traders to watch for targets on the gold market and manage their risk, suggesting a gradual closing of positions as the market approaches the XAU/USD target. The speaker also emphasizes the importance of monitoring the bond trade on the daily chart.

Takeaways

• 📈 The speaker provides a daily update on the Euro fix and posts market overviews on Forex pm.com, focusing on political and economic events.
• 💭 The video is a response to the rapidly changing situation in currency markets, aiming to help viewers stay profitable.
• 📊 The speaker suggests visiting the Forex pam.com forum for weekly analysis before watching the daily video for a deeper understanding.
• 📉 The gold market is discussed, noting a minor reaction to the GDP report, which is seen as a positive sign with no volatility around the support area.
• 🎯 The gold market is approaching a target, with the personal consumption expenditure being a key factor to watch.
• ⚠️ The recent drop in GDP is a good sign for the gold market but a bad sign for the U.S. economy, indicating a potential stagflation scenario.
• 📉 The U.S. economy is compared to the 1980s, with a notable difference being the absence of a strong and large budget deficit.
• 📍 Technical analysis is provided for the gold market, with specific levels and patterns mentioned for trading decisions.
• 🚫 The speaker emphasizes the importance of managing risk, especially as the market approaches the target.
• 📌 Traders with long positions are advised to move stops to breakeven and consider gradual closing of positions as the market approaches targets.
• 🤔 The speaker leaves the decision-making to the individual, encouraging personal strategies based on the market's behavior.

Q & A

What is the purpose of S Morton's daily update?

The purpose of S Morton's daily update is to provide an exclusive market overview, highlighting key political and economic events, charts, and important levels on the Forex market. It is designed to help individuals stay on top of the game and be profitable in the currency markets.

Where can one find S Morton's market analysis?

S Morton's market analysis can be found on Forex pm.com forums, where he posts weekly updates and also suggests reading the analysis before watching the daily video for a deeper understanding.

What was the reaction of the gold market to the recent GDP data?

The gold market had a minor reaction to the recent GDP data, which is considered a good sign as it indicates stability around the support area that was discussed in previous reports.

What does S Morton suggest for traders regarding the gold market?

S Morton suggests that there are not many actions to take currently as the gold market is approaching its target. He advises traders to focus on the personal consumption expenditure and manage their risk, considering moving stops to the breakeven point.

What is the current situation of the United States economy as discussed by S Morton?

S Morton suggests that the United States economy may be entering a stagflation stage, characterized by a slowdown in economic growth due to high interest rates and persistent inflation, which is a bad combination.

What is the significance of the recent drop in GDP for the gold market and the U.S. economy?

The recent drop in GDP is a good sign for the gold market as it can lead to increased interest in gold as a safe-haven asset. However, it is a bad sign for the U.S. economy, indicating potential economic challenges.

What are the target levels for the BR B that S Morton mentions?

The target level for the BR B is approximately 2378, which is the 618 level of hold reduction. S Morton also mentions using the C Point top for a slightly closer target if there is concern.

What is the potential market reaction as the BR B approaches its target?

As the market approaches the target, there might be some reaction, with a probable move to the XOP level, which stands at 20 379, just $1 above the Fibonacci level.

What is the advice given by S Morton for managing risk in the current market situation?

S Morton advises traders to manage their risk by moving their stops to the breakeven point. He also suggests that if the market starts approaching the XOP level, traders might consider gradually closing their positions.

What is the importance of the personal consumption expenditure in the current market analysis?

The personal consumption expenditure is highlighted as a key factor to watch, as it stands ahead in the current market analysis and could significantly influence the direction of the gold market.

How does S Morton view the current economic situation in comparison to the 1980s?

S Morton views the current economic situation as radically different from the 1980s, noting that the current situation does not have the same strong and large budget deficit, which implies a more difficult situation ahead.