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GC

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
GOLD- I am going short. While Markets run.I have decided to take position in Gold (GC). Reasons: - following nicely down channel (Yellow lines) - Indexes are running hot!! - top yellow trendline show very good resistant properties. Down channel show okay support, not great. this means well that it could continue below this support. - 0.50 fib is show resistance and 0.50 is important fib line. - decent profit to risk ratio. - my target is pivot as seen on chart. But this is weak pivot because it already respond to even early pivot. So this means I can stay in trade if I want when target is close depending on situation. This also go along with weaker bottom channel support. I am always transparent with my trading. I show losses and wins no matter what. I always be honest and show you what I do. I do not put all my trades up on TradingView because I would be a lot of work! so let's see how we do. If you find this idea interesting then please like and follow.
COMEX:GC1!Short
by UnknownUnicorn11430563
2
GOLD LongI will be entering a swing long in Gold here. It is somewhat risky given the downward pressure on Gold and the current correlation with equities but I believe the R/R to be very favorable here. This is also based on my fundamental view of future monetary and fiscal policy. The Fed has painted themselves into a corner where they are forced to employ ever more accomodating monetary policy. This is unlikely to change given that they choose to ignore the obvious signs of inflation, pointing to the CPI which is clearly an inaccurate measure of actual inflation. Furthermore, they have expressed that they are not really concerned about inflation anyways, and that maximum employment is their primary objective even if it comes with the cost of higher inflation. The market seems to be pricing in a surprise increase in interest rates, but that's highly unlikely to happen given the reasons above and the fact that the Fed has said they will warn the markets before any rate hike is implemented. What's more likely is that the Fed will continue their accomodative policy and buy bonds to force yields back down. On the fiscal side, ever larger stimulus bills continue to be passed, primarily stimulating the demand side while the supply side is still shut down. Even if we start opening up, it will take some time for the supply side to increase production sufficiently to cover the pent-up demand in the economy. Based on these reasons I'm entering a swing long position with a wide stop in case there's a spike down to hunt stops. Trade at you own risk.
TVC:GOLDLong
by bjohel
Another gold shortSo I enter gold again after stop out thi morning for nice money. Now I enter again because Fast Hull cross down over slow hull. gold pull back to resistant line make good entry point rsi still making lower low with price price below center regresssioin line descended triangle which usually meaning reversal, but see price still at top of wedge so still good profiting potential even if reversal at bottom line of wedge. Here I take half profit then watching how price reacts. also pivot is weak that I show because this weak pivot reacting to prior pivot. So this weakens it.
COMEX:GC1!Short
by UnknownUnicorn11430563
6