Trade Idea on GOLD ( GC XAU ) by ThinkingAntsOkThis is a setup we are currently waiting, we have already set our Buy Stop orders:
Main items we can see on the 4HS CHART:
A) The price is above a previous resistance zone now working as a support
B) Both the Previous Resistance and the current support have been tested multiple times from both sides
C) Currently, we can see 2 corrective structures above the support zone with clear edges
D) Now we will be waiting for the breakout of the 2nd structure and we will aim for a target at 1897.00
E) The risk we are taking on this trade is 1% / Remember: you should never risk more than that per trade, that will always protect your trading capital.
GC
New bullish movement coming on GOLD (GC) by ThinkingAntsOkUse this as a guide to develop your view of the situation:
Main items we can see on the chart:
a) We should Focus on the "Major Support Resistance Zone."
b) Take a look at how we can use that support resistance zone as a clear divider for "The price above or below it."
c) After the price testing the zone as a resistance we saw a breakout with a bullish movement
d) Currently, we can observe that the price tested 3 times the zone as a support
e) We can conclude that we are in a strong area and we can see 2 corrective structures (yellow lines)
f) Our Analysis is that if the price breaks above 1750.00 we can expect a bullish movement towards the two Fibo extensions
g) We will trade this analysis and our TARGET will be 1895.00
Gold Futures (GC): Prices Pull Back on Weak Demand for GoldThe main trend is down. After a weak closing on Thursday, expecting further pull back on Friday. If prices bounce off of $1682 level, then the market may trade within a range from $1682 bottom to $1737 top. If $1682 is broken, the next downside targets are Fib levels at $1660 (0.618) and $1620 (0.5). RSI indicator is pointing toward lower prices.
XAUUSD***Risk Trade IdeaThe Analysis is based on the Harmonic Pattern and the E waves. But still subject to more signals.
The uncertainties are,
1. Technically, for both Harmonic Pattern & E waves, they don't tell you the exactly top/bottom for the pattern;
2. For fundamental, the unlimited QE depends on the Dollar liquidity, we can only follow the change of the situations.
3. The uncertainties means the risks.
Gold, D1 - possible irregular or running correctionBecause the price of gold has reached a new high, we have to change the Elliott wave count from a simple corrective pattern to an irregular or running correction. Only in this type of corrective patterns, the new high may be reached as a wave B. This wave also consists of three sub-waves.
What is more, the upward movement has stopped at the upper limit in an upward channel. This could be a significant resistance area. Thus, the price of gold may retrace to the lower limit of the channel or even lower to the area of 1565 - 1442 USD.
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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.
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Trade Idea on Gold by ThinkingAntsOkWith this post we are not saying, "The price will start a bearish movement" What we want to express here is:
IF the price starts a bearish movement (that would mean that the resistance zone was strong enough to make the price Re-enter again), We will trade it in this way.
Main items we can see on the Daily Chart:
a) The price is on an ascending channel
b) Currently against the higher zone of the channel
c) On the Same zone, we can see a Huge Resistance zone, that worked 3 times on the past
d) We don't know yet if the price is going to break the level and start a new bullish movement or if the price will re-enter again on the range
e) IF the price re-enter on the range, we will wait for the breakout of the ascending trendline + corrective Structure
f) IF that happens, we will develop short setups towards the next Support zone.
Possible Correction on GOLD (GC) by ThinkingAntsOkUse this as a guide to develop your view of the chart.
Main items we can see on the 4hs chart:
a) currently, the price is on a Support zone
b) On that support zone, we expect a reaction towards the broken ascending trendline
c) From an Elliott perspective, we have a full count 12345 and now is correction time
d) How is a correction composed of 3 Waves ABC now we are on A and we expect B to come
e) If that happens, we should expect a final C before the continuation of the bullish movement.
gc, gold, trading for Mar 10th 2020Gold has made the move higher as a prior idea was showing could happen and is now in a top side consolidation. I will be watch to see what side of the golden zone breaks but for day scalps the red zone will be the intraday signal i will be watching for scalp trades.
Big picture I am still leaning long but will take profit if the gold lower band breaks.
There's anomaly on the daily Gold futures chart - $F_GCI have found an anomaly on the daily Gold ( GC ) chart. $1600 is my expected level. However i am not going to trade it as it's very risky if we consider the momentum and the current conjuncture.
$1600 is my expected target.
Disclaimer: This is not a financial or investment advice...
Trade safe,
Atilla Yurtseven
A look into the Weekly Chart on Gold Futures by ThinkingAntsOkUse this as a guide to develop your view of the chart:
Main items we can see on the weekly timeframe:
a)The price has achieved our Weekly Target which was the Fibo Extension of the 3rd Motive Wave / On the same zone we detected a resistance before 2015
b)Now we expect a corrective Structure similar to the previous one. From there, we will make new conclusions
c)By now, our only task is to wait and have enough information to develop a new setup (check the link to related ideas to see the previous forecast.)
d)Using Elliott Wave Theory, we can conclude that the five motive waves are completed, and a correction should come.