9/8 Market analysis and the mindset of gold market (Column)
Nice to have your continued support today as well.
This is Elle.
Real-time tweets are posted here.
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※This article does not instruct or recommend purchase/sale timing.
Yesterday there was only one signal, but the Nikkei hit the limit price.
It would have been nice if it hit 23,000, but it barely held on.
It would have been nice if it hit 23,000, but it barely held on.
Rather than price range or direction, this is a method to generate profits through position strategy, so today’s price movement is of very important significance.
I’m not taking positions aiming for 24,000 yen, so before hedging I expect to take profits once a certain amount of profit is achieved on a single basis.
There is a possibility of holding again after the Labor Day reaction in NY, but at this point I cannot say anything definite.
I’m not taking positions aiming for 24,000 yen, so before hedging I expect to take profits once a certain amount of profit is achieved on a single basis.
There is a possibility of holding again after the Labor Day reaction in NY, but at this point I cannot say anything definite.
Yesterday the pound continued to be sold and fell sharply.
There were reports that Boris’s administration is preparing to propose revisions to the approved withdrawal agreement, which may have been the catalyst, but if that is the material, the price would likely recover.
Negotiations for a Free Trade Agreement with the EU have many gaps and progress has stalled, and locally in the UK there has been almost no movement.
In the first place, many countries are busy with COVID-19 measures, so negotiations themselves probably aren’t a high priority at the moment.
Even if an agreement is reached, airports are not functioning properly, so I think negotiations could be postponed for various reasons as a justification, and the author expects that to be the case.
Even if the reports were true, there is a high likelihood that it would be a bluff to force a negotiated outcome, so I do not expect the market reaction to persist for long.
There were reports that Boris’s administration is preparing to propose revisions to the approved withdrawal agreement, which may have been the catalyst, but if that is the material, the price would likely recover.
Negotiations for a Free Trade Agreement with the EU have many gaps and progress has stalled, and locally in the UK there has been almost no movement.
In the first place, many countries are busy with COVID-19 measures, so negotiations themselves probably aren’t a high priority at the moment.
Even if an agreement is reached, airports are not functioning properly, so I think negotiations could be postponed for various reasons as a justification, and the author expects that to be the case.
Even if the reports were true, there is a high likelihood that it would be a bluff to force a negotiated outcome, so I do not expect the market reaction to persist for long.
Otherwise it was largely flat with nothing particularly noteworthy to watch.
Tomorrow’s Tokyo-London session is expected to see not much volatility in the forex market.
On an individual basis, there are stocks that have reached technically significant points, so entering such names could be good.
However, given the trendless state, technically easy entries are likely to be short-lived, so please keep that in mind.
In this kind of environment, day-level settlements are prudent.
Tomorrow’s Tokyo-London session is expected to see not much volatility in the forex market.
On an individual basis, there are stocks that have reached technically significant points, so entering such names could be good.
However, given the trendless state, technically easy entries are likely to be short-lived, so please keep that in mind.
In this kind of environment, day-level settlements are prudent.
As for the author’s position strategy, it remains the same as yesterday’s article, so today’s strategy does not change.
I think we will proceed without changes until we see how the NY reaction after Labor Day plays out.
From 21:30 yesterday, I held a new short position on euro-yen and the euro-pound, so today will be a day to consider how to handle that.
This 21:30 flow has been discussed in past articles and on Ustream/Tweetcaster as well; it’s the usual reversal since late August.
It is not a trade based on specific rates like the actual value flow, but rather time-based, and I entered positions only after confirming the chart had started to reverse.
I think we will proceed without changes until we see how the NY reaction after Labor Day plays out.
From 21:30 yesterday, I held a new short position on euro-yen and the euro-pound, so today will be a day to consider how to handle that.
This 21:30 flow has been discussed in past articles and on Ustream/Tweetcaster as well; it’s the usual reversal since late August.
It is not a trade based on specific rates like the actual value flow, but rather time-based, and I entered positions only after confirming the chart had started to reverse.
Gold market outlook
To start with, a disclaimer: this is the author’s subjective view on the following,
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