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GC

GBPCHF REQUESTED LONG TERM ANALYSIS - Waiting for price to complete M formation around either a) the orange zone or b) (more likely) the blue zone - Looking for price action confirmation around these areas on the 4hr timeframe before entering long - Price to retest the neckline of the M formation to complete it. - If momentum is strong and price is able to break above through the neckline and retest it and give us price action confirmation, we could finally see GBPCHF being bullish and move upwards towards the green key target levels. - Patience is key here - adjust analysis as price plays out (be reactive and not predictive)
by MBL7
4
GC> the battle fo 1700 continuesYesterday it looked as if we were headed toward 1700. But then price reversed back into the diamond. However the setup is still perfectly valid. And my thoughts are the same for the most part. However after adjusting my zones just a little, I have seen a path to below 1700. You can follow this with the red shaded down arrows. Personally I will decrease my position with each level achieved. Please use good risk management if yo decide to follow my idea. Please support me with a thumbs up and a follow if you like my ideas. Ms. Puckbunny
COMEX:GC1!Short
by UnknownUnicorn11430563
12
GC> to 1700. Let it beginI have entered the GC short trade. Please refer to my prior chart regarding this (see link below). My trigger has fired as break below the diamond and point of control has happened. Albeit, on a smaller time frame than my usual 4 hour. So, did I jump the gun? Perhaps, but I took this risk because all I see short at the moment. You can see my risk reward, and possible secondary target to 1700 in red. I believe this is as strong short so I have risked a little more than usual with the caveat that I will end the trade early if it does reverse.
COMEX:GC1!Short
by UnknownUnicorn11430563
4
GC> Gold to 1700This set up has short written all over it. 1. Diamond pattern- this is often a reversal sign. This could arguably be called a bear flag as well. 2. Although not drawn on this chart an upwedge can be found in the diamond. Also a bearish reversal sign. 3. Down trend line test multiple times since early January 2020. 4. A demand zone that seems to be begging for price to come to it. ( this is a subjective statement- but sometimes your gut tells you things. So I will short on a break below diamond. Yes this looks like a good short and seems very likely with a simple setup. But just when you think you know what is about to happen the market fakes you out. That’s why the stop loss was invented and why you ALWAYS need to use good risk management. Let’s see what happens. As always I love the thumbs up and a follow if I you enjoy what you see! Thank you for stopping by :) Ms. Bunny
COMEX:GC1!Short
by UnknownUnicorn11430563
3
GC goes up to supply zone then back to 1700Gold I expect to go to 1750-1760 before dropping back to 1700 - upward wedge indicating reversal - strong supply zone - upward wedge vertex confluent with supply zone (I love when things conflue :) - RSI will likely be overbought or show bear divergence. I drew a possible price path scenario after supply zone is hit If you like this idea please support me by giving a thumbs up! Please leave comments or ideas too :) Ms. Bunny.
COMEX:GC1!Short
by UnknownUnicorn11430563
4
GC> short position triggeredMy short position was triggered. It possible my entry is a little early because I adjusted my limit order. So risk of trade is higher than originally planned. But at the same time I was worried about missing out on a potential lucrative trade. I guess that would be FOMO, but I will lower my stop if trade moves in my direction to limit risk. Short is supported by: - upward wedge - clear supply zone - confluence of wedge vertex with supply zone - higher time frames re still very bearish. This is like an additional supply zone My target is retest of inverse head and shoulders neckline. I will likely sell half my position at support of 1737. You can see my risk reward plan on chart. That’s it. This is as easy a setup as you can get. No indicators. Only patterns and price action Please support by giving thumbs up! Ms. Bunny Composed with assistance of grammarly
COMEX:GC1!Short
by UnknownUnicorn11430563
4
GC possible back to short. Make up your mind already!So GC do not know what it wants. Now at neckline. Critical 4hour candle - if price break below 4h neckline on 4h candle close take short position. Aggressive sell on break of neckline or conservative sell on retest. - weakened demand zone (already reacted to prior demand zone) calls for possible lower target= more profit. However I would still take at least partial profit here. - relatively weak support at black lines. If price finish above neckline on candle close but rsi close below neckline on its head and shoulder still consider short entry. This is bearish divergence on lower time frame. Especially with close below the 50 line.
COMEX:GC1!Short
by UnknownUnicorn11430563
2
The corrective structure is almost finished XAUUSD / GOLDToday, we want to share a bullish opportunity we are aiming to take in the short term -We consider that the Flag Pattern is finished and has reached a critical level: the support zone + the ascending trendline. That provides us with a confluence situation. -Now we expect a bullish movement from current levels towards 1950 (the next resistance zone) -It's important to say that we will not take a trade right now. We want to see signals that the reversal is happening. For example, we want to see a breakout of the descending trendline inside the flag pattern + a throwback before developing setups. -Now, we want to pay attention to the price action on the current area between the support zone and the descending trendline -We have defined an invalidation level. IF the price reaches the red line, we will consider that the bullish view is not happening, and we should pay attention to more bearish pressure coming. Thanks for reading!
OANDA:XAUUSDLong
by ThinkingAntsOk
4
GC current states of affairsI’m still bullish for GC. So far plan is being executed but I be hoping for more true breakout by now. My options are = end trade And no loss, but no potential profit =Stay in trade Risk bigger loss Potential gain Exit and re enter on test of wedge Better RR ratio Risk no entry At this time I stay in trade and watch. Why? So far acting the way I predict. When no longer following plan then I exit and try for re entry if still valid trade setup. Reversal trades have lower success rates but higher profits. Please comment your thoughts and ideas. Please support with thumbs up if you like this post.
COMEX:GC1!Long
by UnknownUnicorn11430563
10
Long term perspective on GOLD / Cup and Handle Pattern Today we will share our view about the long-term opportunities we think gold is about to offer. First, we will start with the Weekly chart you can see on this post: What is a Cup and Handle Pattern? -Cup and handle pattern is the name that someone really creative gave to a market situation in which we have an ATH followed by a big Dip, in this case, a major correction between 40% to 70%. Then the price is able to recover the whole drawdown, and we have a fresh ATH (this can be above the previous one or a small breakout above). Finally, we have a corrective pattern, typically a ZIG-ZAG structure or an ABC structure. After the ZIG-ZAG / Flag Pattern breakout, we have the confirmation signal of a new Bull run about to come. -To better understand this example, you can see the next picture, and also you can see the situation from 1978 to 2009 (cup and handle pattern) / 2009 to 2011 the resolution of the structure. -Please understand that this type of pattern is useful on high timeframes like Daily and Weekly charts, its pretty similar to the situation we had on BTC/USD several times after huge corrections -With that explained, we think GOLD is about to complete the pattern. Right now, our objective is not to find the bottom of the movement but to be ready to execute positions if the breakout of the structure is confirmed. Lets take a better look to the current situation on the Daily Chart: This chart shows that the 1680 - 1700 area is a major zone for bullish pressure to start coming. Why? From a technical perspective, we can observe a huge support zone that + Ascending trendline + the channel's cloned trendline. Remember that using different tools that converge on a specific area is a strong signal in technical analysis. Our Strategy right now is: Wait for the price to reach the expected area 1680 -1700. Once that happens, we want to see the first bearish trendline's breakout and look for a corrective structure. That would be the first position we can develop on the yellow lines, this would be a risky setup because we are not waiting for the absolute confirmation of the cup and handle pattern (breakout above B), but if we are right, we can have a huge risk-reward ratio trading waiting patiently for the Cup and handle target. The second position we want to develop is the safer one, which is waiting for the ZIG-ZAG pattern breakout and looking for a corrective structure on the next resistance zone. If that happens, we will develop long setups, as you can see on the yellow lines towards the final Cup and Handle Target. We hope the information is useful. Thanks for reading!
COMEX:GC1!
by ThinkingAntsOk
6
GC possible long opportunity on reversal.I don’t know if I am to take this trade but I am thinking about it in my mind. These be reason for possible reversal. - downward wedge - approaching intersection of wedge mean squeeze, mean price soon break - RSI in oversold territory. As price approach intersection of wedge will be even more oversold. - pice target top of parallel channel line. Also target could be when RSI approaches overbought territory. - with indexes pulling back gold prime for up move. Let me know what you think. Please give thumb up if you find this thought provoking. Thank you!
COMEX:GC1!Long
by UnknownUnicorn11430563
14
Gold- short working so far.GC is moving in direction of my trade. I will take at least half profit at where my target zone is. I have tightening my stop to my entry now. So this now be like a free trade. Yellow line channel being followed nicely. The bottom yellow line is weaker support then upper yellow line give resistance. Also pivot at target is weak. These 2 confluent things mean GC may continue lower than my target. Depending on how chart looking at target I might stay in short and make a trailing stop.
COMEX:GC1!Short
by UnknownUnicorn11430563
4