Roughly another $50 and we are at $3000The recent performance of TVC:GOLD has been spectacular. It seems, the precious metal can't find a ceiling. MARKETSCOM:GOLD has a good chance of travelling towards the psychological 3000 mark.
Let's dig in!
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Commodity
Silver is still flirting with its key short-term resistance areaLooking at the current technical right now, we can see that MARKETSCOM:SILVER bulls are trying to find strong grounds to lift themselves and travel back to the current all-time high. However, certain boxes have to be ticked first, before we can get a bit more comfortable with further action to the upside.
TVC:SILVER
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Are sugar futures ready to extend further up?Looking at the technical picture of sugar futures, we can see that we have approached a key area of resistance. In order to get comfortable with further upside, a break of that territory is required. However, if we see the price struggling to move above all the EMAs on our daily chart, maybe the upside might off the table, at least for now.
MARKETSCOM:SUGAR
ICEUS:SB1!
74.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK. Cryptocurrency CFDs and spread bets are restricted in the UK for all retail clients.
SILVER - Finally Following Gold!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈SILVER has been in a correction phase and it is currently approaching the lower bound of the blue rising wedge pattern.
Moreover, the green zone is a strong structure and support zone.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower blue trendline acting as a non-horizontal support.
📚 As per my trading style:
As #XAGUSD approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
GOLD - $3,000 is a Magnet!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 After recording a new all-time high this week, GOLD has been surging in a parabolic manner.
🎯 Next target? The $3,000 round number is lining up perfectly with the upper bound of the rising channel marked in red.
🏹Meanwhile , every bearish correction would be an opportunity to look for trend-following longs, targeting the $3,000 mark.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Gold Struggles at Trendline Resistance: What’s Next?Gold Weekly Analysis
Trendline Resistance:
Gold's price has repeatedly struggled to break above the rising trendline, signaling strong resistance in this area.
Support Zone Strength:
The previous resistance zone has flipped into a solid support level, providing a safety net for any pullbacks.
Next Move:
A breakout above the trendline could trigger a strong bullish continuation.
A rejection here may lead to a pullback, with support near $2,387 acting as the critical level to monitor.
XAUUSDHi guys,
In this chart i Found a Demand Zone in XAUUSD CHART for Positional entry,
Observed these Levels based on price action and Demand & Supply.
*Don't Take any trades based on this Picture.
... because this chart is for educational purpose only not for Buy or Sell Recommendation..
Thank you
GOLD knocking on the door of the current all-time highTVC:GOLD continues to advance rapidly and is already getting closer to the current all-time high. But can the price stay above the current all-time high of around 2790 by the end of this month? Let's find out.
More a more detailed technical analysis watch the video.
MARKETSCOM:GOLD
RISK DISCLAIMER
74.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK. Cryptocurrency CFDs and spread bets are restricted in the UK for all retail clients.
Crude oil Is Approaching ResistanceCrude oil is coming higher on 4h time frame, out of a wave B bullish triangle that we have been tracking through December. Well, we know that moves out of a triangle are final in a sequence, so we can expect limited upside, and ideally, this will cause the completion of wave E rally of a larger bearish triangle pattern. It's now approaching an important resistance at 74-75, its gap from mid-October, right at the upper side of a triangle. There is a chance for a turn soon.
A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves that subdivide 3-3-3-3-3 and are labeled A-B-C-D-E. It’s a region of horizontal price movement, a consolidation of a prior move, and it is composed of “threes.” That means each of the A-B-C-D-E waves have three subwaves. The triangle pattern is generally categorized as a continuation pattern, meaning that after the pattern completes, it’s assumed that the price will continue in the trend direction it was moving before the pattern appeared. However, triangles also indicate that the final leg is coming before a reversal and that’s why triangles are labeled in wave B, wave X or wave 4.
Crude Opportunity Part 2In this second part, the Crude Futures Daily chart is used.
In this chart, there are marked points where the SuperTrend Buy signal is triggered and is coincided by a green Rate of VolDiv (RoVD, bottom panel). There is one on 8 October but there was no comcomitant indication and clearly it "failed". The others that fulfilled the condition are marked with a yellow time line.
So clearly, the recent breakout is projected to have something similar in terms of a bullish rally.
This is in line with the weekly outlook.
Together with technical indicators like the RoVD, as well as the MACD where there is a clear breakout support, Crude appears to have much upside potential. However, there is no rush as it just met the trendline resistance and is expected to pull back a bit to retest and breakout again for the longer term.
Overall, this looks not like a spike out of fear, but one spurred by inflation. This is in the MUST WATCH list for sure and an accumulation plan should be in place.
A projected path is drawn as a guide and the target for Crude is 100-105.
Crude Opportunity Part 1Previously, heads up about BTCUSD and it was pretty spot-on.
Oddly enough, CRUDE OIL CL1! is next.
For the first part, here we look at the marked time lines, and the effect after these time lines. 5 of the last 6 times, saw a bullish rally. Of these, 4 of the 5 occasions had the Rate of VolDiv (custom indicator) trend changed for an uptick.
In essence, the current weekly Crude Oil Futures CL1! show a similar set up ready for a spike and rally for Crude Oil. No fundamental reason (yet) but the technicals are projecting a billish scenario based on the technical set up.
Part 2 will look more in-depth and zoom into the recent time frame...
Stay tuned if you are keen...
Palladium: A Rare Trading Opportunity Palladium is currently trading at levels last seen in 2014 and 2018, hitting an extremely low support level. From here, I anticipate a bounce back to at least the previous high of $1,200 per unit.
📌 Next Target:
My projection is a rise to $1,500, which marks a strong resistance level.
Palladium is a highly demanded commodity, and at these low prices, it presents traders with an extraordinary opportunity to capitalize on its rebound potential.
Gold - TRIO RETEST!Dear TradingView community and fellow traders,
I find the daily chart for Gold to be interesting as it appears to be forming one of my favorite patterns. What I call TRIO RETEST
Here is why the blue circle is a strong zone to keep an eye on:
1️⃣ => Overall Trend
Gold has been bullish long-term trading inside the rising broadening wedge in blue and now approaching the lower blue bound / trendline acting as a non-horizontal support.
2️⃣ => Round Number
The $2,500 marked in green is a strong round number.
3️⃣ => Oversold Zone
Gold is bearish short-term trading inside the falling channel in red and now approaching the lower red trendline which I consider an oversold zone.
As per my trading style:
As Gold approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break, and so on...)
📚 Hope you find this post useful. It's important to always adhere to your trading plan, including entry points, risk management strategies, and trade management techniques.
All Strategies Are Good; If Managed Properly!
~Richard
Disclaimer: The information provided is for educational and informational purposes only and should not be considered as financial advice. It is important to do your own research and make informed decisions before entering any trades. Past performance is not indicative of future results. Always be aware of the potential for losses, and never risk more than you can afford to lose.
Silver May Face More Weakness After A Corrective RallySilver is making sharp reversal down from recent highs, even breaking a lower trendline support of an ending diagonal which is an important indication for a top in place. As such, we are aware of much lower prices, maybe even back to the start of a diagonal at around 27/28 as drop from 4h time frame has an impulsive bearish structure into wave A/1.
But we see some bounce now that can be an A-B-C irregular/expanded flat correction into wave B/2, where subwave (C) can be now in progress. Resistance is then around 31.60-33 area, and from where we will have to be aware of further weakness within wave C or 3.
XAUUSD - 4hr Bum n Run updateLong story short... The market is currently playing inside the zone 2625-2655. (30pip range)
Gold should maintain above 2615. a Close below this level counld invalidate the Bump and run pattern and continue with more bearish pressure.
Its NFP week and you know the USD has been gaining strength. Wait for the breakout above 2655 before entering another Buy. We need strong bullish candles with high volume to make this setup a low-risk trade.
The targets are still the same:
Targets:
1 - 2685 (quarter 3 high)
2 - 2710 (target 1)
3 - 2750 (target 2)
4 - ATH
Coffee Is Getting ExpensiveCoffee is in a massive rally on tight Brazil crop fears and if we take a look at the weekly chart, we can see it trading impulsively higher with space for more gains until it fully completes a five-wave bullish cycle by Elliott wave theory, just watch out on short-term 4th wave pullbacks.
Basic Impulsive Bullish Pattern shows that Coffee can be trading in subwave "iii" of 3 of (3) of a five-wave bullish impulse of different degrees, so more gains can be seen after short-term 4th wave pullback.
GOLD: Pullback in short term?Hi Traders!
From a technical point of view, Gold is approaching an interesting resistance area on intraday chart, if Gold wants to trigger a pullback with ABC Pattern for example, it should start doing so from this area, let's see how the last weekly session will continue. That said, the trend is bullish on the 1H chart, but if weakness appears, it might be interesting to follow the swing.
Thanks for watching!
Silver - Long-Term Long!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 XAGUSD has been overall bullish, trading within the rising channel.
Currently, XAGUSD is undergoing a correction phase and it is currently approaching the lower bound of the channel.
Moreover, it is retesting a strong support and round number $30.
🏹 Thus, the highlighted gray circle is a strong area to look for trend-following buy setups as it is the intersection of the $30 round number and lower gray trendline acting as a non-horizontal support.
📚 As per my trading style:
As #SILVER approaches the gray circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Follow the Gold...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 Gold has been overall bullish, trading within the rising channel in orange.
Currently, Gold is in a correction phase, so the lower bound of the channel would act as support.
Moreover, the blue zone is a strong demand.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue demand and lower orange trendline.
📚 As per my trading style:
As #XAUUSD approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich