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.

Outlines

00:00

📈 Gold Market Update and Economic Insights

S Morton provides a daily update on the Euro fix, discussing the gold market and its relation to key economic indicators. He mentions a minor reaction to the Gross Domestic Product (GDP) data and suggests that the lack of volatility around the support area is a positive sign. The speaker anticipates reaching a target in the gold market and discusses the implications of a recent drop in GDP for the U.S. economy, hinting at a possible stagflation scenario. He also advises traders to manage their risk and consider their position in light of the approaching target.

Keywords

💡Euro fix

Euro fix refers to a specific time in the financial markets when the European trading session begins, influencing currency values. In the video, it is used to set the context for discussing market updates and analysis. It is a crucial time for forex traders as it often brings increased market activity and volatility.

💡Forex

Forex, short for foreign exchange, is a decentralized global market where one currency is traded for another. It is the largest financial market in the world. In the video, Forex is the central theme as the speaker discusses currency market analysis and trading strategies.

💡Gold market

The gold market refers to the trading of gold, typically in the form of futures contracts or physical bullion. It is an important part of the video as the speaker discusses the current state of the gold market, its reaction to economic indicators, and its potential as an investment.

💡Gross Domestic Product (GDP)

GDP is the total value of goods and services produced over a specific time period within a country. It is a key economic indicator that reflects the health of an economy. In the video, a drop in GDP is mentioned as a positive sign for the gold market but a negative sign for the U.S. economy.

💡Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling. The speaker uses the term to describe a persistent economic challenge, indicating that despite a slowdown in economic growth due to high interest rates, inflation remains a concern.

💡Stagflation

Stagflation is a situation in which the economy is experiencing slow growth and high unemployment along with high inflation. The term is used in the video to describe a potential economic scenario for the United States, highlighting a difficult combination of circumstances.

💡Risk management

Risk management in the context of the video refers to the process of identifying, assessing, and mitigating potential risks in trading. It is emphasized as a crucial aspect of trading, with the speaker advising viewers to manage their risk by moving stops and considering position closures based on market movements.

💡Technical analysis

Technical analysis is a method used by traders to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume. The video discusses using technical analysis to identify key support and resistance levels in the market.

💡Breakeven

Breakeven refers to the point at which an investment neither results in a profit nor a loss. In the video, the concept is used to advise traders on when to move their stop-loss orders to ensure that they do not incur a loss once their initial investment has been recouped.

💡Fibonacci level

Fibonacci levels are a method used in technical analysis to identify key support and resistance levels in the market. They are derived from the Fibonacci sequence and are used to predict future price movements. The video mentions the Fibonacci level as a target for market movements.

💡Personal consumption expenditure

Personal consumption expenditure is a measure of the total amount of goods and services purchased by consumers in an economy over a specific time period. It is a key component of GDP. In the video, it is highlighted as a factor that traders should watch closely as it may influence market movements.

Highlights

S Morton provides a daily update on the Euro fix market

Exclusive market overviews are posted on Forex pm.com forums weekly

The video is a response to rapidly changing situations in currency markets

Suggests visiting Forex pam.com forum to read analysis before watching the video

Discusses the gold market and reaction to GDP data

No volatility around the support area discussed previously

Gold market has made taking positions relatively easy

No significant developments to report in the gold market

Target on the gold market is approaching, with personal consumption expenditure ahead

Recent drop in GDP is a good sign for gold but a bad sign for the US economy

US may be entering a stagflation stage with slowing growth and persistent inflation

Current situation is more difficult than in the 1980s due to larger budget deficits

Discusses potential reactions in lower time frames as market approaches target

Provides specific target levels for BRB trades

Advises managing risk and moving stops for long positions

Suggests gradually closing positions as market approaches the XOP target

Decision on position closing is personal and up to individual traders

Will continue to monitor bond trade on the daily chart

Transcripts

hi this is S Morton with the daily

update on Euro fix I post my exclusive

market overviews with the key political

and economical events charts and

important levels on the Forex pm.com

forums weekly this short video is a

response to rapidly changing situation

on the currency markets and should help

you to stand on top of the game and be

profitable I suggest you to visit Forex

pam.com forum and read my analysis for

the week before watching this daily

video now guys let's take a look at gold

market so here in general everything is

going with our trading plan reaction on

grass domestic product was really well

just minor reaction actually so uh maybe

this is good point for us that's would

we haven't got any volatility around the

support area that we have discussed

yesterday and in general gold market has

made the uh process of the position

taken relatively

easy uh because those things that could

be formed here that we have discussed in

previous couple of reports uh haven't

happened so and this is really good so

currently I do not see many things to do

because we're coming on to the Target on

the gold market to the actually by the

trade destination points uh the personal

consumption expenditure stands

ahead so let's see what will happen but

recent drop of the grass domestic

product is definitely very good sign for

the gold Market but very bad sign for

United States economy because as I

mentioned today in the video of the euro

currency Forex Market video that it

seems that United States is already

stands with one step in a St flation

stage of the economy when we see the

drop of the growth slow down of the

economy due to the high interest rate

but inflation remains undefeated and

this is very bad combination especially

in the current background it's radically

stands different compared what we saw in

80s because we haven't got so strong and

large budget deficit and depth um this

time it will be

well more difficult situation let's see

what will happen on Lower time

frames as Market is coming to the Target

this is the target for the BR B it's

2378 approximately 618 level of hold our

reduction um that we have if you're

worri bit you could use for instance for

the level using the C Point top not the

a points see when thrust down has

started so this also acceptable in this

case Target will be slightly closer uh

with the upside action we have extension

markets coming to the op here might be

some reaction probably xop which is more

probable as a burn by the Target stands

in 20 uh 379 it's just

$1 above the FIB level and makes an

agreement with this level so probably

those of you who trade the brand B it

would be better to uh focus on these

destination points because it more fits

to idea of the daily brand B don't

forget to manage your risk so since

operation already started uh if you have

long position either with the taken of

the hand of the double REO pattern that

has been formed here and it's still

valid by the way as we discussed

yesterday or maybe you have taken

position somewhere in level or this drop

yesterday don't forget to manage your

risk move stops to the break unit and

see uh what will happen so once Market

will start Clos to coming to the xop

maybe it makes sense to apply some

gradual closing of the position if you

would like to so uh somewhere halfway to

the xop maybe it makes sense to close

some part and then keep the rest for the

Final Touch of the xop but this is very

personal I I I'm sure that you will be

able to make the decision by yourself uh

so let's see what the consumption

expenditures will be and uh just keep

watching what will happen with our brand

Bond trade on the daily chart