Gold Flash Crash!

Gold Flash Crash!

2021-08-09 • Updated

4H Chart

XAUUSDH4 9 Aug 2021.png

Daily Chart 

XAUUSDDaily 9 Aug 2021.png

Gold began the week with what we call a “Flash Crash” with over $60 drop within minutes on bets the Federal Reserve may soon start paring back its massive monetary stimulus, especially after the US Jobs Report announcement on Friday came much better than expected. Yet, gold recovered most fn the 4% decline before the beginning of the European session. In the futures market, over 3,000 contracts changed hands in a one-minute window, which is equivalent to over $500 million notional value as activity surged in a typical quiet trading period. Such a move could be tricky and it's too early to judge on whether such a move will continue later today, especially after gold recovered over 90% of the move so far. Therefore, this might be another short trap, and it would be wise to wait until the beginning of the European session.

S3 S2 S1 Pivot R1 R2 R3
1683.27 1729.43 1746.23 1775.59 1792.39 1821.75 1867.91



September 20-25 Trade Ideas
September 20-25 Trade Ideas

US stock market corrects, gold recovers and the crypto market drops hard! Best trade opportunities during this week in the article! Let’s check the charts and set some goals! NASDAQ (US100) US100 index plunges as the US dollar strengthens…

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