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GLD

GLD , a bullish gold ETF LongGLD on the 4H chart has downtrended for 2 months. However, the supertrend is that of a gradual trend up as shown by the green ascending line. The two indicators point to a reversal. The MACD shows a cross of the K / D lines under a positive histogram and impending cross over the horizontal zero line. The Chris Moody with dual RSI plots shows the RSI on the weekly time frame in black to be trending down from 70 and settling at 50. The daily time frame in blue bottomed at 29 and is now 44. This is a bullish divergence of the RSI as compared with the price trend. Overall I expect a reversal with a trend up targeting $192 which is the approximate pivot high of early May also confluent with two standard deviations above the mean VWAP anchored to 2/1/23. The stop loss is to be set below the ascending support at $176. Accordingly, a potential loss of $2 until the stop loss is raised to break-even once price gets to $182.00. After that, the trade will be both risk and stress free.
AMEX:GLDLong
by AwesomeAvani
XAUUSD- Extended View Long Bias Spot GoldXAUUSD on the daily chart has been in a trend down from $2179 since early May when its candle wicks also reached into the zone between the lines two standard deviations above two different anchored VWAPs set at the early and late February high and low pivots. In the past week, Spot Gold pivoted above the support of the aVWAP lines one standard deviation below the mean. The MACD indicator predicted the reversal with a double bottom shown as a green line. Above the current price are the mean VWAP and the confluent POC line of the long-term volume profile at 1959. From my analysis of these findings, I will take a long trade entering @ 1959 targeting first 2000 and then 2060 based on the trending of the aVWAP bands. I may also review the JNUG ETF and have already taken a position in GLD.
FX:XAUUSD
by AwesomeAvani
Gold - When A New ATH Prints, Will You Get Trapped?It's not that I am fundamentally bearish on gold. Actually, I am fundamentally bullish on gold. But it's because I think the fundamentals of gold are bullish that this commodity is not bound to pump while the MMs have tipped their hands that they're going to sell Artificial Intelligence and Chinese Communist Party garbage to a willing horde of retail zombies and dead money hedge funds. And so if gold is really to return to relatively significant lows, like say $1,500, the purpose would be accumulation for $2,500 and $3,000. And if that's to happen, with the way the last three months of price action has been, the gold MM, which is really quite a shark, is extremely unlikely to allow the funds and retail cowboys who have been short under the triple top ATH at $2,089 to enjoy the ride down with them This monthly is too obvious that new lows aren't going to come before the highs are purged: And the weekly shows that the $1,936 dump rebalanced the gap created by the big March candle. A significant calculation in the markets is rumors that came out on Friday that the CCP would be pumping some QE to save its crashing markets. This news came on the back of names as big as Elon Musk, Jamie Dimon, Henry Kissinger, and Condoleezza Rice either traveling to the mainland for the first time in years or attending virtually, along with the Starbucks and Pfizer CEOs. So what's going on, if you ask me, is that the Party has once again been given a blood transfusion, and that blood transfusion may be in exchange for that gold it spent the last several months buying. This would naturally mean that gold would pump so it can be sold at high prices and bought back even lower, with the dual purpose being that it would cripple the CCP's gold reserves, which are loaned on leverage. Whenever you hear someone barking about how strong the CCP is, or worse, if they conflate "China" to "the Chinese Communist Party," you need to take a step back and ask yourself how a country whose lost tens or hundreds of millions of people to a pandemic it's still doing everything it can to cover up could possibly be strong. It's not that the CCP is going to invade Taiwan. It's that NATO and the other global factions are thinking about how they can take over Beijing via Taiwan when the Party falls in the imminent future. The persecution of Falun Gong by the Jiang Faction and the Communist Party itself in 1999 wasn't and isn't Xi Jinping's fault, but as the Party Chairman, his head hangs in the noose for this crime, a weakness that anyone can exploit at any time to get rid of Xi and the Party at the same time. But the problem is that a lot of the western world and Europe and other countries have participated in the persecution, which has targeted 100 million spiritual practitioners and gone so far as to commit the sin of live organ harvesting. And so this means that the situation in China is Mutually Assured Destruction, a real Game of Thrones, and ultimately the Heavens are playing them all for a fool together. So, here's the trade: Expect the $1,936 pivot to hold. (But $1,920 will also work) Buy really here or anywhere under $1,950. Be patient and don't get scared Sell $2,150 Collect 7-12% Buy wine and whiskey and treat your friends Now the kicker is that shorting gold at $2,150-2,170 will be a really good trade, but for the bear case to really apply you want to see a liquidity purge and distribution, rather than a sweep. Like, you want to see a wick or tweezers form on monthly bars, but you want to see gold spend some daily and/or weekly candles distributing and getting knocked down and trying again and getting knocked down over $2,100. Otherwise an ATH that doesn't show signs of having its fever break can go quite literally anywhere, although the macro and timing does not currently make sense for this to be the case at present. One of the best ways to play this is in the GLD ETF. Calls when it trades to about $178.5 with at least 3 months on the contract will print a lot of money closing over $200 if my trade is correct. I can only tell you that the world is in trouble. A bull impulse when breadth is poor, macro conditions are poor, the timing doesn't make sense... all of them should be causes for alarm. One day these distractions won't be maintained anymore and there will be significant problems we all have to face outside of the computer in the real world. To make it through that, you have to be a good person, cultivate virtue, and go back to valuing and maintaining our traditions again.
COMEX:GC1!Long
by LordWrymouth
4
US Dollar $DXY making history?Not long ago we mentioned the current strength in the US #DOLLAR. Since then TVC:DXY has slowly crept higher and it is testing the downtrend. Head & Shoulder top pattern is likely done. It is taking to long & pattern has been in place. 🚨🚨🚨 This is the 1st time that the US Dollar has not broken this major support level in the month it retested! IS it really "Different this time"? Looks like it! Continues #GOLD entering oversold territory but it's likely going lower, waiting to rebuy lots sold. #SILVER maintains its downward trajectory & about to face up trend. Precious metals are suppressed with derivatives. WHY? Higher prices in these show that there are issues in the financial system. HUGE Squeeze coming in future?
TVC:DXY
by ROYAL_OAK_INC
GDX heading down... It has been more than 6 months since I looked at GDX proper. Yes, I might have missed the last Gold/GDX rally, but I think that short run is about over... Looking at the weekly chart for GDX, a decisive lowest close since March 2023 is representative of a end of a bull trend, if it is not already obvious enough. The near marubozu type down candle came after a quick dip and a lower high, to get a close near the lower low... which just prevails the downward momentum. Few other notes... 1. a trendline support breakdown this coming week would accentuate the downside bias; 2. the MACD and VolDiv have crossed down and looks determined to crossunder the zero line; 3. any further breakdown bring it into the previous consolidation range. And a break in into the range suggest an extrusion on the other (lower) side of the range; 4. Noted that the USD appear to be gaining strength and the equity markets are about ripe for a retracement. Furthermore, the Gold analysis point to a further slide in Gold prices. Taken together, these 3 critical pillars for GDX are impacted, whcih gives little for the bullish case on GDX. Down it goes... heads up!
AMEX:GDXShort
by Auguraltrader
GLD Bullish Outlook 06/26-30/2023AMEX:GLD is hot on my watch list as uncertainty in the world markets should cause investors to park their money in gold. AMEX:GLD is down -4% for the quarter and is due for a rebound. Technical Analysis: AMEX:GLD has been consolidating in a falling wedge and is approaching the .618 retrace at 177.24. I lean bullish on AMEX:GLD as long as we don’t break the falling wedge structure and can hold above the gap at 176.18. I am expecting a gap fill to the upside at 181.37. Bears will want to see this falling wedge invalidate with a gap to fill to the downside at 173.80. Upside Targets: 178.75 → 179.84 → 181.08 → 181.97 → 183.21 Downside Targets: 177.78 → 176.82 → 176.20 → 174.83 → 174.46
AMEX:GLD
by peterjames_6
The Gold Odyssey - Here we go again!Someone mentioned to me that Gold is an asset that never loses money. I took the effort to show previously that Gold can very well do a 20% drop over a slow bleed (months) before it travels back up months later too. I also warned that Gold appears not to be able to keep properly and well above 2000-2080. Since 2020 (the Gold Odyssey series started in 2019), there is a multiyear consolidation range between 1650 to 2050, roughly. Having pointed all that out, it appears that Gold had given up the cling to 2000. Here is why: 1. There are lower lows and lower highs (clearer in Daily chart); 2. a clear breakdown of small consolidation range at 1960 support; 3. Technical indicators MACD and VolDiv have crossed under their lagging signal lines; and 4. The TDST (Green dotted line) was broken out of and with long upper tailed candlesticks reversed back to break down of that TDST. When prices are above, the primary trend is bullish. Now it reverted back to a bearish primary trend. (This is part of TD Sequential rules). Given the above, we can project that the most likely trajectory in the following months is down to 1680 (4Q2023), in a repeated pattern, for the third time, since 2020. There should be a stalling consolidation about 1800 too, so expect that. Now, for this to happen, a few fundamental things need to align... a. the USD should be rallying hard upwards; b. the interest rates should be rising too; c. inflation moderates; and d. Possibly in alignment, can expect the equity markets to be bearish. Heads up and take care! ps. some dates projecting forward are marked. :)
COMEX:GC1!
by Auguraltrader
1
🔥 Why A Bitcoin ETF Is Hyper Bullish: See Gold!There's been a lot of bullish news recently surrounding a potential Bitcoin ETF. This ETF has been filed by both Blackrock and Fidelty. The potential approval of a Bitcoin spot exchange-traded fund (ETF) has the crypto community buzzing with excitement. A Bitcoin spot ETF could be a game-changer, fueling bullish momentum across the entire crypto market. A Bitcoin spot ETF would simplify the investment process, making Bitcoin more accessible to a broader range of investors. It would eliminate barriers like complex wallets and security concerns, attracting retail and institutional players and driving increased adoption. In order to determine the potential effects on the markets, we can take a look at a more recent approval of a commodity ETF: Gold. As seen on the chart, Gold saw a massive ~310% gain over the span of 6.5 years once the ETF had been approved. It's hard to determine whether BTC will experience a similar growth path, but I think it's quite safe to assume that it's 100% bullish if more people can easily invest in this asset.
AMEX:GLDLong
by FieryTrading
1
GOLD: What NEXT? Here we are looking at GOLD on the Weekly TF… As you can see, GOLD just got rejected for the third time from the $2,080 level. When completely zoomed out, you can see that GOLD is trading in a massive bull flag, or in the handle of an even bigger cup and handle pattern. If GOLD can consolidate and build up the power to break through this strong resistance, it will enter into price discovery, and begin a run to new highs… I will continue to monitor this structure, and will update you when I see relevant updates in the chart… Cheers!
TVC:GOLD
by GarethSolowayOfficial
7
$OTC:FNLP Key Support Line and Falling Wedge Pattern Introduction This concise analysis examines the silver chart, highlighting the significance of a key support line and the presence of a falling wedge pattern. These technical indicators provide insights into potential price movements and suggest a possible bullish outlook for silver. Key Line of Support The silver chart reveals a well-defined line of support that has held multiple times, demonstrating its significance. This support line acts as a price level where buying pressure tends to emerge, preventing further downward movement. The repeated bounces off this support line indicate its strength and suggest that buyers are actively participating at this level. Traders often consider such support lines as critical areas to monitor for potential buying opportunities. Falling Wedge Pattern Within the silver chart, a falling wedge pattern has emerged, characterized by converging trendlines with a downward slope. This pattern typically represents a temporary consolidation phase before a potential bullish breakout. The upper trendline, connecting the descending highs, and the lower trendline, connecting the ascending lows, create a narrowing wedge shape. The falling wedge pattern often indicates a gradual decrease in selling pressure and a potential shift towards upward momentum. Anticipated Breakout The falling wedge pattern suggests a potential bullish breakout in the future. As the price approaches the apex of the wedge, the narrowing range indicates decreasing volatility and a possible resolution in favor of the bulls. Traders closely monitor this pattern as a breakout above the upper trendline can signify the end of the consolidation phase and the start of an upward move. The falling wedge, combined with the strong support line, adds to the potential upside momentum for silver prices. Confirmation Indicators To further validate the potential bullish scenario, traders may look for supporting confirmation indicators. These may include positive divergences in oscillators like the Relative Strength Index (RSI) or bullish candlestick patterns near the support line. Such indicators can strengthen the conviction in anticipating a bullish breakout and provide additional entry signals. Conclusion In conclusion, my analysis indicates a strong support line, a falling wedge pattern, and the support of favourable macroeconomic conditions, all pointing towards a bullish outlook. It's worth mentioning that my previous call on the same stock was well-timed , resulting in a ~ OTC:FNLPF 250% price increase. As I continue to closely monitor price action, I will consider these indicators and draw from my previous success when making informed decisions about investments in silver.
LSE:FRESLong
by joepegler
Gold Order Flow - Sell On Bounces After 'Circle' TriggerHey traders, This is another post that centers around the use of the OFA script to decipher the path of least resistance. Remember, as OFA traders, we simply let the market show its intent. We don't anticipate, we adapt to the dynamic flows. Right now, the GLD market is sending a strong signal that bulls are in for some pain in days/weeks to come. Why? Due to the price pattern identified by the script (these are called via 'diamonds' and 'circles'). The current formation of decreasing buy-side pressure followed by increasing sell-side is top-notch. This type of realized order flow hints at a much lower target, with an ultimate objective of 168.00. An entry around the 50% retracement is ideal to get you off to a great start. The risk-reward prospect is terrific (at least 3:1) Remember, when using the OFA script, it comes with highly accurate signals that, at its core, apply 2 main areas of study: Magnitude: A major clue that will help determine the health of a trend is the type of progress by the dominant side in control of the trend. We need to ask the following question: Are the new legs in the active buy-sell side campaign as identified by the script increasing or decreasing in magnitude? Velocity: When it comes to the distance the price moves, the magnitude is only ½ the equation. The other ½ has to do with the velocity of the move or the speed. Was the new leg created after a fast and impulsive move? Or did price make a new low or high with the movement being sluggish, compressive and taking too long to form? A good rule of thumb is to count the number of candles it took to achieve a new leg. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
AMEX:GLDShort
by FlowState
Gold shows deflation is comingTechnicals: Looking at this chart reminds me greatly of Bitcoin’s top in 2021. After a 5-wave move down there was an ABC to new ATHs just overshooting wave 5, before a massive C wave. I have this as a grand supercycle wave 4 correction. It is setting up to be an expanded flat correction with a deep C wave. So my target for my C-wave is the 1.618 fib level of wave A. After the 5-wave move (Primary green) down from the ATH reached in 2011 red supercycle wave A was completed. What followed was a clear 5-wave move in a leading diagonal, creating wave A of red supercycle wave B. An ABC correction followed, and then an impulsive 5-wave move to complete red supercycle wave A. Since the completion of the red supercycle wave A, there has been a wave 1 and an expanded flat correction retracing nearly 100% of wave 1. And now we are beginning the third wave of this red supercycle wave C which will be the most bearish. My Target for gold is 763.769 If price breaks above 2075.282 This wave count is invalidated. Fundamentals: According to Truflation, the real rate of inflation is now at 3%. This number is updated daily. The government number is believed to be lagging behind Truflation’s number by about 3-4 months. So if this is the case, the very crowned gold long trade will become unattractive as we reach the Fed’s target of 2%. Of course, the repercussions of their rapid rate hikes will continue to increase disinflation until it crosses the line to disinflation. My assessment is shorting gold is likely the best trade out there at the moment. There is a 6 to 1 risk reward ratio.
OANDA:XAUUSDShort
by Faux_Hubris
XAUUSD Spot Gold ReversalOna 4H Chart XAUUSD has been trending down for 2 weeks from a double top at $2052 where the Stochastic RSI put in a top at 100%. Price crossed above the upper Bollinger band before its pivot high. As it trended down, it did retrace back up to the upper Bollinger band and then resumed the downtrend heading outside the lower band and reaching a pivot low of $1954 on Thursday, May 18th along with RS approaching zero. Price then reversed and put in an engulfing bullish candle before closing out the trading week with a Doji. Price crossed through the black trendline drawn onto the chart. The RSI indicator curled upward and is progressing to crossover 20. The volume profile shows the majority of the trading between $1992 and $2040 with the mean at $2018. This would be the area of highest liquidity and volatility. The Echo indicator (AI predictive tool of Luxalgo ) suggests a near-term rise in price and a consolidation area of $ 1993 before another leg up into the high-volume area. Overall, I will look to take a long position to begin the forex trading week upcoming as well as a gold ETF such as GLD or even JNUG on the equities market.
OANDA:XAUUSDLong
by AwesomeAvani
Gold Bugs Squished?I've been talking about Gold COMEX:GC1! hitting a major high for my last two Livestreams (catch them Friday at 4pm Eastern after the market close). The current price action warrants a standalone post. Each Livestream for many months has had at least one person ask what I thought about Gold. It was very simple: Gold was trending UP to test the major Monthly highs. In many of my social market chats about two weeks ago my gold bug friends began getting very excited. I urged caution. Price MUST break the high and confirm the breakout before getting long at this major Resistance Level. Now it looks as of gold price is respecting this monthly high from the last few years. To be contrarian I had to short Gold (using AMEX:GLD ) based upon a Spike setup from Friday May 5th's high. Last week price pulled back and "should have gone" to retest and break the high. It did not and returned back inside the range. This sets up a short. I also know from taking market sentiment that a lot of traders may have gotten a bit overly optimistic. This could setup for a good pullback to at least the 1850 Level.
COMEX:GC1!Short
by norok
1
Gold Futures (GC) Weekly is Bull Flagging, But.....Gold is currently in a flag similar to that experienced last March and April. Last year's flag broke down, very unusual for this formation (normally it is a continuation pattern). Most likely the breakdown can be explained by the strong ramp up in the dollar index last year. Also, gold seasonality is usually weakest starting in April - June. This flag is very tight, and being very near the all time high of 2089.20 at the flag peak of 2085.4 -- so I am biased in thinking that this flag may not reverse, even should DXY show strength. Of course, there are numerous geopolitical and other macro events which can have a positive effect on gold, if they create uncertainty. Key areas to watch. A break below 1985.60 and hold and it will signal another flag breakdown. A break above and hold of 2085.40 (flag peak) and it signifies a bull flag continuation. These are simple areas to watch and are significant.
COMEX:GC1!Long
by UnknownUnicorn13101
1
Gold Order Flow - One Script To Rule Them AllHello traders, Once again, the OFA script demonstrates its prowess... Through the synthesis of fractals-based order flow data, we can deduce potential future trends in a market that has experienced unprecedented volatility in recent times. Following the decisive breakout of 162.00 last Nov 2022 which left behind a double bottom, Gold was propelled towards 191.00 through a series of HH and HL patterns via the OFA script. With the latest two cycles printed consisting of greater amplitude and velocity by the bulls, which was met by tepid sell-side pressure as the OFA indicates, The path of least resistance continues to be higher. We will never claim to have foresight or certainty about upcoming developments. Instead, we will be attentive spectators of price fluctuations, allowing the OFA script to shoulder the burden of executing the next trade. Bear in mind the two essential aspects of the OFA indicator: Amplitude: A crucial hint in evaluating a trend's vitality is the extent of progress made by the dominant party controlling the trend. We must ask: Are the new stages in the active buy-sell side campaign, as recognized by the script, increasing or diminishing in amplitude? Momentum: When considering the range of price movements, amplitude accounts for only half of the equation. The remaining half involves the momentum or pace of the move. We must ask: Was the new stage established following a rapid, impulsive shift? Alternatively, did the price achieve a new low or high with the movement being lethargic, constrictive, and time-consuming to develop? A useful guideline is to count the number of candles it took to reach a new stage. VISIT MY PROFILE FOR MORE INFORMATION ON THE OFA SCRIPT.
AMEX:GLDLong
by FlowState