Get started

Gold-trading

Correlation between Gold (XAUUSD) and Sp500 ( stock market )In the past , The movement of gold and stocks has been in opposite directions , after the Covid 19 and beginning of the pandemic , The stock market began to fall sharply but on the other side , gold started a rally ,The situation was getting worse day by day, but the rise of gold did not continue And suddenly gold fell sharply for some reasons , One of them was due to the stock market crash Because this fall had caused the shareholders' margins to be severely down And if it continued like this, their accounts would be suspended ( call margin ) . Gold had grown so much on that time , And this is what caused that those who had a open positions on the gold and stocks at the same time forced to closing their positions on gold and import that money ( which made by invest in gold ) to the stock market to made a Appropriate balance To prevent their account from being suspended (call margin) , This caused gold to plummet . on that time the stock market crash stopped and started the range trend , after the gold sharply drop over and reached the Appropriate point ( From a technical point of view ) , now both of them ( gold and stocks) were on the bottom , so they need something to trigger their rally good technical point And the fall of the dollar started the bull trend for gold at same time stimulants packages from government arrived and bulls also entered the stock market , until today both of the are moving at the same direction and they got correlation with each other Which you can see that in the picture , today they both got growth so much , gold reach to the all time high and sp500 ( stock market ) reach to the point Which had begun to fall at the onset of the disease , in technical view the The situation is a bit difficult for both , but in the fundamentals It gets even harder for them , china and united state tension enters a new phase every day and grow day by day , second wave of corona and no certain news from vaccine , and the most important of them is the whispering about rejecting the new economy stimulus package which it can cost a lot for stock market , so if any of the top reason make the stock market to start a correction ( which This is not unlikely to happen ) we have to expected the same thing happen to gold too , (In my opinion, gold is imitating stock movements ) so it all depend to the stock market , we don't know when pandemic will over or how far the china and united state tension will continue , but We will be informed soon about the new stimulants package , so i recommend to stay caution about the trading and investing gold and stocks until the stimulus packages Finalized . hope it was useful ! ps : orange line Representative of the sp500 and candles Representative of the gold price movement .
FX_IDC:XAUUSDShort
by mohamad_mi
GOLD, Double Top Formation Forming, Bearish Pressure Will Enter!Hello Traders Investors And Community, welcome to this analysis where we are looking at the 4-hour timeframe perspective GOLD chart, the recent events, the current price-structure, and what we can deduce from it in order to profit out of possible outcomes. The last week's almost all global markets have been in a recovery to the upside since the corona-breakdowns saw this year but as real economy data is telling us the up moves aren't fundamentally backed besides that the market is building up a big bubble where retail investors opening accounts to participate in the market recovery and looking for demand pushing the price higher, on top of that smart-money is staying out of the rally and on the sidelines which are building up a high speculative environment that can be driven by retail investors and therefore not strong enough to hold on sustainable. You can watch in my chart an asset which currently is highly valued near its all-time-high which does not mean the asset has no value but it means that the environment is overbought which is also confirmed on the higher timeframes, furthermore GOLD is currently building a double top formation which you can watch in my chart and which provides a high possibility to show bearish pressure to the downside when confirmed, this will happen when GOLD crosses below the neckline at 1790 you can watch in my chart when this scenario happens the minimum target at 1770 you can see marked in green will be activated, this will only be the minimum target from the double top formation which does not mean GOLD can fall more to the downside after these targets will be reached we have to see and examine if GOLD can recover or continue its journey. This is currently the short-term perspective which does not mean GOLD is not bullish on the long run but there are some high possibilities to confirm bearish for GOLD not only why we have a highly speculative environment in stocks and also in other assets like GOLD this can lead to supply entering the market which can increase when a possible second wave enters the surface which can affect the environment similar to the down moves seen in march this year. There are many people telling the bear market has already ended which is a mere illogical approach at the moment and can prove fatal in the long run as there are still technical as well as fundamental signs which can invalidate the bullish scenario, therefore, it is important to be prepared when bearish signs not only show up in the short-run but also in the middle and long-run. In this manner, thank you for watching, support for more market insight, have a great day, and all the best to you! The Mind of a trader is the most significant tool to succeed in today's markets. Information provided is only educational and should not be used to take action in the markets.
TVC:GOLD
by VincePrince
11
GOLD The past week started with the price retesting the asymmetric triangle formed during almost a month of consolidation to then skyrocket into a new high. This has been a great move filling up the pockets of the ones who played the breakout. Now the question is..., where are we heading from here? When looking at the Monthly, Weekly and Daily Gold is clearly in an uptrend with the 200, 50 and 21 MA perfectly aligned. Price is still within the red zone which represent a strong resistance zone. A clear break above 1750$ might suggest an extension move into the mid 18 hundreds. However a fail to close above the 1750s brigs back the possibility to target the low 1600s as the harmonic suggests. Gold is giving out great trading opportunities have fun with it ;)
FX:XAUUSD
by TheTechnicalAnalysts