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Gc1!long

GC, seems going upHello traders, The gold future is now preparing for an increasing trend. We have the right signs of volume and candle’s shape that assure that, so we expect this upward trend. As I said in my last analysis of GC, Gold future was able to break a trading range and take that increasing path. Currently, buying GC will be a profitable operation, it seems Gold future is looking for higher level price, this will be confirmed after breaking the R1 resistance . What we can do after buying is to wait that red volume and red candle to sell for intraday trading. For long term investment, GC is an opportunity.
COMEX:GC1!Short
by oualidskh
GC AnalysisHello traders, After having a period in equilibrium, The Gold Future is taking an increasing trend. GC could break that zone of equilibrium above it, and therefore it takes that upward trend. But as I said in my long term analysis of GC we need an important volume that could push the GC price over that maximum price of 18/05/2020, we should wait for those volumes, in case we’re looking for long term investment. PS: A down break of the trend support could change the current increasing evolution.
COMEX:GC1!
by oualidskh
GC signs of a trend changeWith an increasing trend since 18 June, now we have signs of a decreasing one. With the high level of volume, GC will go down. This prediction is for an intraday trading. It seems that each GC is trying to break the previous zone of GC it goes back to it. If we take a look at GC in daily, we will find that the volumes are stable since April, so to go out of this zone, we need a higher level of volume. PS: If it goes down and break the current trend support, it ùeans we have a deep decreasing new trend The advice about GC : It's time to sell now and take profit.
COMEX:GC1!Short
by oualidskh
GC Future Analysis, It's under the VWAP!!GC Future is showing decreasing trend today. The pitchfork indicator shed light on the hallway that limit the trend of GC. Moreover, the price has broken the range of equilibrium with an important Candlestick chart (Break Point). Currently, the price evolution is under the VWAP indicator, so it seems the market is going down. However, we should pay attention to any trend’s change in case we have a break of the pitchfork hallway, or a VWAP break with high level of volume.
COMEX:GC1!Short
by oualidskh
ridethepig | Gold Failing At The Highs...Gold undershooting at the 2012 highs are failing to clear 1700 by crumbs was screaming signals that the market was exhausted, and that it would take more than a coronavirus pandemic to move higher. Notice the size of the wick with all the profit taking place it produced a bearish monthly (and weekly) pattern: The handbrakes have been pulled, Central Banks are co-ordinated the response with PBoC, BoJ and RBA moving first, now eyes on ECB, FED and BOE next... momentum in the move towards the topside is running out and a pullback is necessary before anything else can be resolved. After an abrupt end to the "Santanomics"... Here expecting the pressure to continue on buyers in March. A break of the Yellow trend-line at 1550 will unlock the 1450 lows. I am targeting 1540 this month with Q220 targets located at 1450. Best of luck all those on the sell side in Gold, we will not be covering the fundamentals as it has been widely spoken and discussed in the previous charts. ...Thanks for keeping the support coming with likes, comments and etc!
FOREXCOM:XAUUSDShort
by ridethepig
11
ridethepig | Gold Highs Of The Year? Smells Like It...Part I - Chapter 1 The Gold Swing 1. General remarks => The base of the swing => The idea of two clashing forces After the impressive leg: ...we have a completed Gold swing trade. The legs A, B and C are individual moves in the swing; a zigzag should be considered a retrace and in this case while inside a second wave that serves a function for the medium and long term macro chain. So the bottom of the swing, which we traded together below live here, will be called the base. Every retrace swing, in other words every ABC sequence running diagonally across the currency board meshes flows together, it divides the market incrementally into blocks, which are consisting of bids and offers opposing each other. For the sake of convenience, we will dig deeper into the basing process: The diagram illustrates an example of a transition in direction. The idea of building a swing Before you tackle what follows, you should walk forward and check that you are well versed in the ideas concerning Gold and event risk. If not you should refresh your memory here because this is necessary in order to understand what will follow. The question we need to answer if we 'know' our direction is up: after ABCDE and for as long as 1700/10 does not advance, Sellers have the possibility of directional change and can move here. Sellers did not disappear just because of coronavirus, or mediocre risk. No, they must still be there, in a macro sense from the Gold peak in 2011 which coincided with the transition towards BTC and negative rates via ECB & BOJ. Gold above all is a retail market, and the boat is fully loaded towards one side with markets trading as if the plague is here. Well, we all know what happens when markets exhaust and dislocate from reality. The powerful urge to continue hedging with risk will only expand, and thus what I have modelled are inflows into BTC to outperform Gold. Towards the breakout The ease of movement (in terms of capital) must be taken into account, the demobilisation between BTC and Gold will come from the inability to move large sizings of Gold around without raising flags anymore. BTC can advance and take full advantage of this handicap Gold now wields. Should buyers try to push Gold any higher here by attempting a breach of 1700 for the 3rd time (it will present yet another selling opportunity), my strategy remains to reunite with the sell side around currently levels in Gold and recommend those who are still long to start rounding up troops. Attacking the swing The attack from the base in Gold is both fundamentally critical and technically valuable for the logical justification of transitioning away from a commodity driven currency and more towards digital money. I have to attribute to myself the honour of having made a killing in the latest Gold rally, because the price drivers kept telling us to load more. It was not about the direction of the swing, but purely and simply about how cheap could we buy. The main thing is that the buyers from these lows should now be restrained! What was at that time my most revolutionary position (one to which I have come across by intensive work on the issues of reflation). Smart money realises that BTC is deflationary and will weigh heavy on Gold (traditionally inflation up was bullish for Gold). Critics will scream about how they knew it was overstretched... pull the trigger! That's the play! So, here is the chartpack mentioned above from the well-known @ridethepig tradingview portfolio, which I present in its entirety, with no changes and not a word in my own defence. I make only the comment well done all those who were long Gold from 1205, 1250, 1305, 1350, 1400, 1450, 1500, 1550 and even those greedily playing 1600. A flawless move that is now time to take profits and switch sides !!! Marking the highs as a strategic necessity Sweeping the highs in this nature towards 1700 in the opposing direction only happens in unsustainable rallies on a short-term sentiment belief in panic. This essentially reduces the sustainability towards the rally... we are almost at a 90 degree angle !! Recognising exhaustion comes from experience, it is cramping our enemy (late buyers in this case) and attacking it can be formulated as follows: Any traps should never be started with haste when direction changes are involved... The struggle for transitions and picking tops is one that retailers have struggled with and can talk about till the cows come home. The transition should first be aimed at forming a base (or in this case a top) by insisting and threatening to achieve denial of the highs (invalidation, rejection etc). So according to the rule, flows should immediately start to unwind as buyers reach their final targets and smart money should attack aggressively and that should be by 1680/1675, because the highs are more of an aesthetically pleasing ornament. After marking the highs, sellers will have different possibilities to plan and can see which path is clearest if buyers play somewhat naively, as though they have no idea that technology is deflationary, something like: That is the logical knee-jerk profit taking and positioning swing we need to develop: firstly the big exhaustion, and now the tree is shaken, smart money see's this miles in advance! Just like the hero in the films, stubborn traders will continue to buy, very simple. Those nimble enough can take the first one and knock him out, then turn to the next barrier and beat the living daylights out of them! Before gold bugs realise what is happening, the technical blow will be to severe ... Stay long BTC.
FOREXCOM:XAUUSDShort
by ridethepig
22
ridethepig | A Homerun in Gold...In the realm of swing trading, the struggle for liberation is forever prevalent. It would be wrong to ignore the opening move here at 1205; This kickstarted the entire move towards $1305, once outside of the wedge buyers took an "anything goes" approach to the price as risk began to evolve over time. While the triangle from an elliot wave perspective was deemed risky, this move now became a standard: What is much more the point, is the rise in popularity of the wedge break. It was offering opportunities on both sides and while inflation was absent during 1H19 it presented a tradable ABC correction: The lows held and was sending loud messages that real money was on the move, this was a BTFD opportunity as see in these positions: Finally the technical development was there, it was just a matter for buyers to challenge the relevance of what is undeniable a useful strategy... Support: I am talking about the final stages of the middlegame here before we transition to endgame (in play now). Naturally the Santanomics kicked into play: Opening up $1650 and $1700 targets ... let's continue to ride the pig: In conclusion, by now we should all be fully loaded on the buy side here. There has certainly been opportunities even in this last leg to have increased exposure via PBOC intervention: Valentines Day: ... You get the point. A textbook example of setting up the foundations for a major swing and executing on it with precision. The macro assured us the whole time that sellers would not be able to compete!! Hope it has helped.. thanks as usual for keeping your support coming with likes, comments and etc! Buyers on the attack aimed first at the highs
FOREXCOM:XAUUSDLong
by ridethepig
2
ridethepig | Gold Market Commentary 2020.01.16This chart comes after a request from @radyan899464 and a very good time to update the chart as we reach strong support from the initial wave of profit taking after our large swing. Those tracking the previous swing can see in the diagram here: 1595 triggered a lot of profit taking and covering, we are now entering into accumulation and once again get ready to ride the pig with initial targets in Q220 at 1650.xx via US Election repricing (more on this later in the Live room). It is a key area as it will effectively become the differential zone between impulsive and corrective, it is clear the 'C' sequence targets have been reached on the Weekly chart: The important point to note here is should we see failure in the case of paralysing the impulsive move towards 1650 then we must not be caught by the teeth in the saw. The manoeuvres directed here should be taken with caution. Good luck all those looking for another squeeze higher and as usual thanks for keeping the support coming with likes, comments etc!
FOREXCOM:XAUUSDLong
by ridethepig
4
ridethepig | Gold & the "Santa Rally"Uncertainty around reflationary fears will add upside risks to prices in Gold for 1H20. Gold remains bid since the start of November, despite risky assets continuing to gain ground. CB's have been buying 20% of the Gold supplies, the same rate circa Nixon era, all whilst mainstream media paints the geopolitical landscape with a more constructive backdrop, any signs of complacency or gusts of wind from risk will likely drive more flows on the demand side in Gold from retail. We are finally getting the breakout: As widely covered here before, the physical Gold market remains incredibly resilient and first targets come into play at 1595: Expecting another relative breakout versus S&P in 1H20: On the mining side : Yields: For those tracking the end of year positioning flows for 2020 Q1, reflationary risks are around the corner!! After months of choppy waters , finally bulls are emerging from beneath the woodwork as we begin the flows towards 1650. I stick to my average forecast of $1650 and expect Gold to hit $1595, $1650 and $1800 on a 6, 12 and 24m basis. This is my final target in the 5 wave swing, afterwards I will expect Gold to enter in consolidation via profit taking. Thanks for keeping the support coming with likes, comments, charts and etc. And as usual the comments are open for all.
FOREXCOM:XAUUSDLong
by ridethepig
6
ridethepig | Gold One Last LookA very good time to update the Gold chart after clearing inflation and FOMC yesterday. As widely mentioned in the latest macro update in the institutional room: " Here tracking for a slight uptick in inflation but nothing out of trend before the spotlight is turned onto forward guidance with Fed and 2020 dots. I expect the dots to tick down whilst leaving 2021 hikes on the table . " Inflation making a return while risk markets remain less sanguine with protectionism, impeachment, election risk and late cycle fears refusing to abate. To understand how and why we are trading the current 1475 level its important to review and dig deeper into the chart archives, this entire 5 wave impulsive sequence began from the breakout we traded live here at 1200: At this point after the breakout it was clear the large triangle formation was in play, for those with an understanding of waves this is a textbook case of an ABCDE pattern to mark the final chapters of the cycle: ...for those wondering if we also traded pullbacks in the opposite direction, the answer is yes: Now that we have reviewed the flows to date and have an understanding of the why and how, we can start to build a case for adding to our longs. It should be no surprise that this valuation driven pullback attracted buying interest from the usual suspects: It is the same story in particular for those trading XAU versus CNY: In this regard, Gold reiterated the skew towards grinding higher at least for the next year. It appears unlikely that the bar for risk-on will be met by the end of 2020, with Brexit and US elections entering into the picture it is certainly more conceivable that further upside could play out in a way that triggers momentum towards 1650 targets. Thanks for keeping the support coming with likes and jumping into the comments with your questions and charts!
FOREXCOM:XAUUSDLong
by ridethepig
3
Gold target up to $1500-1505. Market structure changing.Gold manages to hold support structure at $1464 which means that a higher low was made and the recent higher high suggests a change in bull structure. The upside seems to be opening up and the buyers are holding the structure. Buy volume has come in on swings higher. At this point we need to see the channel that we've drawn hold well on the support end and break through the resistance part. Based on the Fib extension, the target for the upside move is $1500-1503 and for that to happen we need to see a new high occur in the coming week. So that means a move into $1490-95 on good volume then hold another higher low support point around $1480. The rotations that have occurred at the $1464 support level were expected, based on the 4-hour chart that is where the impulse for the move into a new recent high started. So that is the last chance for the buyers to come in and move price higher. Disclaimer: This trading idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
COMEX:GC1!Long
by TRADEPROAcademy
Gold up to $1500? Trade war seems to think so...Gold was recently looking really bearish as trade news started to flush out of the US that did not look to good for the remainder of the year and the schedule they had planned. A double bottom formed on Gold at $1447-1450 where price rallied and nearly hit $1490 on its way up. The idea here is that there is strong resistance at $1485-1490 based on the low volume node from the year to date volume profile and the previous structure support that is going to act as resistance this time through. Should that level break we can see a move into the year to date POC and ultimately the $1500, the $1490 area will act as support on the retrace lower as well. This upside can be further opened on gold if the trade talks continue to deteriorate over the next few weeks and it puts downside pressure on the US equity markets. If this area holds resistance and there are intraday rotations at the level then we could see another move down to $1445-1450. Disclaimer: This idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
COMEX:GC1!Long
by TRADEPROAcademy