GC
GOLD FUTURES GC1 15MIN (Swing)Sell Signal
The market will keep going down
TP and SL Mentioned on the chart
GOLD FUTURES GC1 (Swing)We have a Buy Signal and the market may keep going up and achieve the target
Risk/Reward=1.11
Good opportunity
Stop-loss and Take profit mentioned on the chart
Should we expect a C corrective wave on XAU/USD Futures?Main items we can see on the chart:
a) The price has reached the all-time highs zone and started a corrective movement
b) Now, we will focus on the possible paths inside the correction
c) The main aspects we can see are: The ascending trendline has been broken / We have a clear edge for the corrective movement (parallel lines)
d) Based on those items, we expect a bearish movement towards the next relevant level ( Support / Resistance zone) 1800/1780
Tell us your view on the comments!
Gold - correction after the triangle breakoutThe price of gold has dropped to the lowest level since the second half of July. As a consequence the ounce of this precious metal is cheaper by about 10 percent then it was in the first week of August.
In our recent analysis we have mentioned that on the daily chart a potential triangle pattern has been created. Its lower limit has been broken so the bears may take control on this market.
Looking at the whole structure we may assume that currently the wave C could be created within a larger simple ABC correction. The potential target for wave C could be located at 61,8 Fibo expansion of wave A (currently tested) or at 100% Fibo expansion below 1800 USD.
In both cases a return to the upward trend would be possible only after a breakout of the upper limit in the downward trend channel.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% 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.
TRADE GOLD AT TRIANGLE BREAKOUTHi community !
I Recommend to buy GOLD if it breaks out from the upper side (resistance), and respect the levels.
If the gold breaks out from the bottom (support), sell GOLD.
Gold - *RANGE BOUND* - Until it's broken. Will today be the day?What a great pair to trade recently!
Let me explain why - Currencies have lacked momentum of volume. Even though, gold has been range bound the moves has been a lot cleaner on scalp trades including silver too. However, today will be very critical which us trades much pay attention. Jackson Hole Summit, Powell to speak today about monetary policies longer term and various other speakers too during the day.
I will not be trading today, one because well when it comes to speeches it's very unexpected it could go either way and unfortunately i don't have crystal ball to predict the next moves but with the help of technicals!... I will be waiting for what will be being said two things to keep in mind from my last DXY post and I will repeat here today: If it is like the Feds minutes, no changes that's hawkish. If there is further change and more easing etc. that's Dovish. It's important to hold discipline wait 5-10 mins see where the market is heading.
Gold, key trend-line up. I wanted to see how the day closed yesterday we at this top of the range area and as well as that key area, drop below this trend-line up we have the bears in further control, which further decline will have greater opportunities. BUT if we do go above this range and trend-line up I have key profit ideas and resistance areas. I have a non-bias approach as I have written many times in my posts and that's probably best way to approach the markets we are in a CB heavy mode, what they do or say will shift the markets dramatically.
Today keep an eye on: EURO, GOLD, SILVER, DXY, 10 YR Bonds & SPX.
Just a trade idea, not a recommendation.
Trade safe,
Trade Journal
Gold - triangle patternWe are still waiting for a potential breakout on the gold market. The price has been consolidating since mid-August. The consolidation looks like a potential symmetrical triangle pattern which is labeled as “abcde”.
This pattern may be a part of a larger corrective structure labeled as ABC. According to the Elliott wave theory, wave B may be a triangle pattern. So if the line drawn through the bottoms is broken we would expect another downward movement as a wave C.
The next possible support seems to be located at 1788 USD and the nearest possible resistance is set by the upper limit within a triangle.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% 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.
SQUEEZED SELLERS - THE TRADE OF THE DAY - GC - 15MNThe easiest trade to take today on the Gold Future - GC.
After a long drop during Asian session and European one, the American session wakes up involving huge volumes with initially a strong acceleration of the drop in price to later trace the perfect signal of a possible very profitable long entry.
As the sellers has been squeezed, it is later on the buyers who have been squeezed, showing the perfect signal for an exit point.
A long trade but still a day trade. The trade of the day!
GOLD FUTURES GC1 (Swing)Probability: 80% Buy signal!
The market will keep going up.
You can use the Yellow Line as our First Resistance and at The Same Time Our TP1
If a Green Candle Cut with Force the Yellow Line Then We use it as a Support for the Next TP2 ( Blue Line)
Take profit:1961.8
Stop loss:1945.6
Good opportinuity for two trade with circonstances.
ridethepig | Gold📍 It is already well known that we 'should have exposure to Gold', the conduct of the flows happened very fast and appears to be quite over stretched in the immediate term. The disproportion I mention is not very well-handled in methods where investors seek to park in cash.
The great mobility of Gold is known no more, it's difficult to transport and illiquid in end game strategies. The pullback towards $1,800 and $1675 would make things a lot easier on the battlefront. This is achieved by liquidations in Equities.
We also have the following waterfall event in play for Silver, the alerts will remain in play as we approach the apex, and when we arrive it brings together all this energy and momentum, which needs to eat a hearty breakfast!
On the technical side, consult once more with $1,970 as strong resistance and assembled defence. The only decision we need to make as sellers or contrarians is required above. While to the downside - 1,803 and 1,673 are themselves interesting targets.
Thanks as usual for keeping the feedback coming 👍 or 👎
GOLD FUTURES GC1 (15MIN) SWINGProbability: 65%
We have a Buy signal
Take profit: 1959.80
Stop loss: 1952.2
GC Is Testing the Previous HIGH to Consolidate In triangle Patt.EXPECTATION : the market could continue to consolidate to complete the Triangle pattern. Today, I'm bullish since the market is above the VWAP.
The market may break the triangle from above to reach some previous recent highs as 78.6% Fibonacci Level which corresponds to the 2015 price level (blue arrow).
If the market breaks from below , it may reach the 38.2% Fibonacci level (orange arrow) since it already tested this level 12 August .
Focus on volumes traders!
Gold - market before breakout?Looking at the daily chart of the gold futures we may spot that the price has found potential support at 1911 USD. This level could also be a possible lower limit within a triangle pattern where the upper limit is set by the upper limit within a downward trend channel.
If the support also set by the trendline is broken we may expect another decline which could be labeled as wave C. In a larger perspective we can also expect a potential ABC simple correction.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% 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.
GOLD in a REVERSE ZONE, Correction Expected To Last High..The bearish Butterfly pattern is indicating a possible retracement for the GOLD to reach the precedent high reached in year 2011.
When the market will go up again and break the blue horizontal line , the next target is clearly the next Fibonacci Level which corresponds to 2179.1 price.
the Butterfly pattern may be a failing pattern , but the two last candles are comforting my idea. However, we are talking in terms of percentages, so Always keep an eye on volumes and detecting icebergs.
Gold .. prepare for big movement 9/8There are only two options, waiting for confirmation. Keep close and make wealth!
GOLD FUTURES GC1 (15MIN) SWINGProbability: 80%
Good opportinuity!!!!!!!!!!!!!!!!!
the market will keep going up
Take profit: 1940.1
Stop loss: 1913.5
Note: i use the Tp & SL manually following my own tactics and strategy to close the trade.
Gold Futures (15Min) SwingProbability: 60%
High Risk! the market is not stable and follow a single Trend
The GC1 For Sell ( Short)
Take profit: 1941.7
Stop loss: 1951.5
I can close the trade manually and following my own Strategy signal.
Gold, ready for a new high?From the Gold daily chart, the price, after the breakout of the triangle pattern, came back to retest the bullish support trendline, by missing, for the moment, to close the pullback on the bearish resistance trendline. From here, it could restart to rise towards new highs.
Gold - more complex corrective structureLooking at the daily chart of the gold futures contracts from CME we may spot a complex corrective structure. Previously we have assumed its simplified form. We have to change that view because wave B takes more time to form.
Wave B which consists of three sub-waves labeled as “abc” could create a possible flat correction pattern. If the trendline is broken we could expect another downward wave labeled as wave C.
The possible target is set by the previous top and by the lower limit in a downward channel. It seems that only a move above the line drawn through the tops may change the view from bearish to bullish.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% 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.
