Intraday Market Thoughts

Charting more Proactively

by Ashraf Laidi
Nov 5, 2021 23:10

Everyone can identify a chart pattern at any time. The key is how to spot a powerful pattern ahead of key economic data in a way that it actually helps predict the market reaction to the report --it's MARKET REACTION/MOVEMENT that counts--NOT the actual report. And that is exactly what we told the WhatsApp Broadcast Group 30 mins prior to Fridays' NFP. We spotted the head-&-shoulder formation in the US 10-year yield, which told us yields would drop after NFP. And although NFP rose, unempRate fell and Avg Hrly earnings rose further, yields ended up falling, boosting gold, hence further powering up our XAUUSD longs for the Group. It's all captured after 2:44 mins of the video.


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