Today’s New York session live stream includes CBI news at 8:30 am EST and an important announcement at the end. The video discusses gold and projections for trading.

Breaking Down Gold Trading on Thursday’s New York Session Live Stream

Introduction

The New York session live stream on Thursday had an important announcement scheduled to be made at the end. Furthermore, the CBI news was scheduled for 8 30 a.m Eastern Standard Time. The article provides an analysis of gold price movements on the same day.

Gold on the Daily Time Frame

Gold on the daily timeframe had a previous bearish candle that closed on a doji. The current candle headed for breaking the high of the previous candle with indecision forming. On the left side, some areas needed to be monitored with the hope that the news event would help break them.

Gold on Four Hour Time Frame

Extreme fluidity was witnessed on the four-hour time frame. The price retreated into the due area, tapped into it yesterday, rejected it, and closed bearish. The current candle was projected to the same levels, so the implications of the news were being monitored. The article also emphasized the importance of breaking the high area (1886) compared to the low area.

Gold on One Hour Time Frame

Gold on the one-hour time frame needed a strong confirmation to enter any trades. In addition, the article underlined the importance of supply areas creating a false move down. Once again, the high area that needs to be broken was reiterated, emphasizing that the breaking of this area will be the only confirmation to take a buy.

Gold on Thirty Minutes Time Frame

Gold on the thirty-minute timeframe was described as having weaker highs and had taken liquidity. As in previous analysis, the article highlights the projection zone and supply area. The article notes that if no closures are achieved above resistance, it is not advisable to enter trades in that area.

The Impact of News Events on Trading

The article discussed the implications of news events on trading. In this case, traders were advised to look for trades before or after the news event since taking trades during the news event involved a lot of risks involving pending orders, position slips, and widened spreads.

Conclusion

The article provided a comprehensive analysis of gold price movements on the New York session live stream on Thursday. Traders were advised to carefully monitor the supply areas and projection zones for potential bullish or bearish moves.