A group of traders discuss the current market trends for gold during the New York live stream. They analyze the daily candle and recent structure of price, noting the potential for a double bottom and trend towards the upside, but warn of low liquidity and irregular volatility due to a US bank holiday. The traders also discuss support and resistance levels and advise caution in trading today. One trader defends Raja Banks against accusations of being a scam and encourages open-mindedness in trading.
Analyzing Gold’s Potential Double Top in the New York Session Live Stream
Introduction
– Overview of the New York session live stream on November 24th
– Introduction of the traders in the stream
Gold Analysis
– Discussion of gold’s potential double top
– Assessment of whether gold will touch the double top at 1765
– Explanation of the daily candle’s bullish stance pushing towards the upside
– Noting that the US bank holiday will cause low liquidity and irregular volatility in the market
– Cautioning traders to be careful when trading and use lower risk than usual
– Assessment of the four-hour chart and potential double bottom formation
– Identification of the resistance and possible closure above it to continue the trend
– Noting that there may be a little inconsistency in volume due to the bank holiday
Gold Analysis Continued
– Examination of the one-hour chart and a series of retests that have been conducted
– Discussion of the potential for price to move towards the upside
– Analysis of the 30-minute timeframe
– Examination of the previous 30-minute closure as bullish
– Discussion about the area that needs to be broken to continue going bullish
– Review of the 15-minute chart
– Assessment of the support and resistance levels
– Exploration of the current consolidation taking place
Traders’ Comments
– Overview of comments from traders in the YouTube chat
– Discussion of questions and comments regarding the transparency of Raja Banks
– Noting that if Raja Banks was a scam, the entire market would be a scam
– Response to questions about whether profit can be made when trading with Raja Banks
– Assessment of traders bashing Raja Banks instead of listening with an open mind
Conclusion
– Summary of the New York session live stream and gold analysis
– Emphasis on caution due to the low liquidity and irregular volatility caused by the US bank holiday
– Reminder to traders to use lower risk than they normally would
– Final thoughts on the market and transparency in trading.