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last two days we have seen good attempt in higher side , also on H1 gold formed demand zone , so technically we can expect some bounce on these demand areas.
SUMMARY OF FED CHAIR WARSH'S STATEMENT:
1. The US economy is showing "impressive resilience"
2. Inflation "remains elevated" relative to the Fed's 2% target
3. The policy statement displays "just the facts" and "steers clear" of guidance
4. There is no soft inflation target, the only target is 2%
5. Fed notes nominal and real yields are materially higher since last Fed meeting
6. Market participants are "learning to play the ball, not the referee"
Once again, the Fed has declined to provide guidance.
1. Fed leaves rates unchanged for the 5th straight meeting
2. Fed votes 9-3 to hold benchmark rate in 3.50%-3.75% zone
3. Hammack, Kashkari, and Logan dissent in favor of rate hike
4. Fed says economic activity is expanding at a "solid pace" despite uncertainty
5. Fed says job gains have "kept pace with the workforce"
6. Fed says it remains committed to its 2% inflation goal
The longest Fed pause since the 2008 cycle continues.
In one of the most divided decisions in years, the Federal Reserve leaves interest rates unchanged.
This marks the 5th consecutive meeting with no change in rates, extending the Fed’s longest pause since the 2008 cycle.
Last time gold corrected like this was 2022. It consolidated from March to December for 9 months then went up 3x for next 2 years. So be patient we could consolidate to a month or 2 more.
