GOLD Breakdown this cup and handle pattern!#GOLD TECHNECAL ANALYSIS
GOLD marked this cup and handle pattern, according to the pattern we can expect 20% bounce,
basic info
A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift. A cup and handle is considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long.
Stay tuned I will keep updating
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Goldmansachs
Gold was bearish in early trading in 1970, and then bullish afte
Gold hit a high and fell back yesterday. I reminded to start shorting and bearish. 1965 decisively turned back empty. Now continue to hold short. The target is bearish to the support of 1945 below before considering going long!
The current gold is a shock trend after a big rise. From the perspective of the 4-hour level, the shock presents a convergent triangle shape, and the shock range gradually narrows! This is also in line with the law of market operation! Generally speaking, after a big market, it corresponds to a large shock adjustment period, and the range of shocks is also narrowed from wide, from active to inactive! And when the market starts again, it is the time when the market becomes active again!
The current shock range of gold has gradually narrowed to the range of 1945-1980! In the absence of stimulus from news events, the probability of gold breaking through is very small! Continue back and forth within the interval! The lower support is the support of 1945, the lower rail of Bollinger for 4 hours. If we do not break the position after touching it, we will have more!
specific strategy
Gold is empty at 1970, stop loss at 1978, and stop profit at 1945.
Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩💻
Gold rose more than 1963 to make profits, and today's 1960 suppo
Gold I repeatedly emphasized yesterday that relying on the support of 1950 is to be bullish! The trend is as expected, and finally pulls up to break through the pressure of 1970, the band rises, and continues to be bullish at low levels. Today, relying on the support of 1960, it continues to be bullish
The general direction of gold is still an upward trend. At present, it maintains a shock within the 1940-2000 range, close to the lower support position, and be more bullish first. This is our established strategy, and it is also implemented in this way! The final result is also in line with expectations!
Now that the gold shock has opened a rising period within the range, it may even start a new wave rising again and break through new highs! Let’s continue to take advantage of the trend today! Relying on the hour-level moving average support and the support of Bollinger's middle rail, do more bullish! After the callback, go straight to see more!
The pressure above focuses on the 1990-2000 area. Whether to continue to oscillate within the range or open a new band, whether the pressure position can break through is the key!
specific strategy
Gold is more than 1963, stop loss is 1955, and profit is 1990.
Goldman Sachs channeling a recovery. GSI would have loved nothing more than a total collapse of this one. I shorted this one many times last year, but alas the guys in New York got bailed again.
There is a WXY channel within a larger B of an Elliot flat. We are due to start the Y soon. Hidden momentum divergence, confirmed by a volume one, thus there is something there on the divergence level as well.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
3/29 Gold Trading Strategy
After forming a head and shoulders pattern, gold dropped to around 1935 and then rebounded to above 2000 to form a double top. Subsequently, the price fell again to around 1945 before rebounding.
Yesterday, the price rallied to the range of 1969-1975 before succumbing to selling pressure. If viewed from a macro perspective, this pattern resembles a double top, which encompasses both a head and shoulders pattern and a double top.
Should the market fail to break through the range of 1975-1988, this double top pattern will be confirmed, and the price will undoubtedly fall below 1900.
The recommended trading strategy is to focus on shorting, while keeping an eye on support and resistance levels, and developing more detailed trading plans accordingly.
FOREXCOM:XAUUSD FXOPEN:XAUUSD
3/28 Gold Trading Strategy
Gold rose to around 1963 and started to fall back. A small double bottom is not ruled out here, but the premise is that there is support around 1945-1943. If it falls below, look at around 1933 below. The upper resistance is currently in the 1963-1969 range.
Trading straregy:
sell: 1960-1969
tp: 1945-1933
sl: 1972
buy:1933-1937
tp:1942-1948
sl:1931
1945 has a certain support. If it does not fall below 1943, you can do a small amount of long around here. Around tp1960. If it falls below 1943, the long-term conditions are not established. You should mainly short. If it falls below 1933, look at the vicinity of 1920-1914.
Gold 2003 double top pressure, first fall and then rise
Gold, the highest last week was 2010, the lowest was 1934, and the weekly line recorded a negative K close near 1976!
Last Friday, the daily line made a double top in 2003 without breaking through the high pressure and retreated, and the remaining 2000 was short and small and 2001 was out. Of course, it was also reminded in the VIP that even if it broke 2000 at night, it would not be chasing higher. It may be a small break. Continue and then pull back, and finally pull back at midnight!
I didn’t participate last Friday night, but the author went online after 23:00 to check the market. At that time, gold retreated and broke 1990, so the rebound 1994 was empty, and it was just over the weekend. But to be honest, even last week 5. If you seized the highest point in 2003 and shorted, there is still a certain element of luck. There is a sequence in it. I may not understand a few words, but I know it well, so the shorting of the high point in 2003 is a gamble. It is only reasonable to rely on luck to really catch the short, and it must be a rebound after breaking through 1990 to choose an opportunity to come back in the short!
In today's market, 4H closed down continuously, and the rebound continued to be bearish. Below, focus on 1950-1930, the weekly level moving average is supported at the 1930 level.
Last Friday, the remaining 2,000 shorts suffered a small loss, and I did not participate in the event last Friday night. Although the author continued to short after 23:00, the time was too late, so the group did not give it! But the short-term target of 1975-1967 is in place today!
Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩💻
3/27 Gold Trading Strategy
Gold fell below the weak support, rebounded after reaching the support around 1969, and fell back under pressure around 1978. At present, the weak support from 1975-1971 has turned into resistance.
sell: 1971-1978
tp: 1963-1959
sl: 1981
buy:1959-1963
tp:1968-1971
sl:1954
1978 strong resistance, short near 1971, weak support 1969-1966, strong support around 1963-1959, short orders take profit in this range
Fall below 1959, look at the 1950-1945 range
Gold Monday Trading Strategy
Gold fell after touching above 2,000 again intraday on Friday. As of the close, it was reported at 1978. During the transaction, I had already reminded my friend TP in the group. There are some small supports near 1977, but this support is not very strong. As long as the bearish power is strong enough, breaking this support is a high probability.
I used the 30m chart, and there are two areas circled in the chart. For the market on Monday, first look at the 1975-1983 range shock. If the bears are strong, 1975 will definitely fall below. The following is the strong support near 1969. If there is no news stimulus, we can go long when it falls to the 1969-1963 range. It should not be a big problem to catch a small rebound. I will give a specific strategy at that time.
The current situation is:
1988-1983 resistance level
1975-1971 weak support
1969-1963 Strong support
Shorting in batches without breaking through the resistance level, breaking through 1990 stop loss, taking profits in the weak support-strong support range
Go long without breaking the strong support, stop loss if it falls below 1960, take profit in the weak support-strong support range
The market will change at any time, and it is impossible to operate completely according to one's expectations. (If only it worked out as expected!) I also update the strategy in real time as the market changes. Welcome everyone to pay attention.
FOREXCOM:XAUUSD
GOLD | Interesting facts about GoldOANDA:XAUUSD
1.Gold is a 'noble' metal, meaning that it does not rust or lose its shine. Other noble metals include ruthenium, rhodium, palladium, silver, osmium, iridium, platinum, mercury, rhenium and copper.
2.Gold is the only yellow metal. All other metals darken or turn a yellowish colour after they have oxidised or reacted with other chemicals.
3.Gold is one of the heaviest and densest of all metals in the Periodic Chart; a cubic foot would weigh more than half a ton.
4.Pure gold will melt at 1064.43° and boils at 2856.1°. Even at normal temperatures gold is extremely soft. One gram of gold can be flattened down to a square meter sheet, which is so thin that light passes through, and because of this it has been used as a protective film on visors in space suits
5.Odourless and tasteless, gold is not toxic - and flakes may be eaten in foods or drinks.
6.Gold is far rarer than diamonds but is only the 58th rarest earth element.
7.It is estimated about 160,000 tons of gold have been mined throughout history.
8.In 2018, China was the world leader in gold mining production. Second was Australia, Russia third, US fourth and Canada fifth.
9.The largest gold nugget is the 'Welcome Stranger' mined in Australia in 1869, weighing in at a colossal 173 pounds (that is nearly 78.5 kilos).
10.The first gold coins were produced in Lydia between 700 - 650 BC. They were made from electrum, which is a naturally occurring alloy of gold.
11.The Swiss Franc was the last remaining country to peg its currency to a value in gold. It became a fiat currency in 1999.
12.The Perth Mint in Western Australia cast the largest ever coin - weighing one tonne and measuring 80 centimetres (31.4 inches) in diameter.
13.New York’s US Federal Reserve Bank is reported to hold 25% of the world's gold reserves.
14.Gold is frequently used as a safe haven asset in times of economic turmoil or geopolitical uncertainty.
15.Gold has historically had a weak correlation to movements in the financial markets and is frequently used as a hedge against inflation.
The important support of gold is in 1961, go long
Risk aversion broke out again. Gold rose sharply in the U.S. market yesterday, breaking through the resistance level of 1961-1965. It was under pressure in 1983 and remained in a range today. There is weak support around 1975-1973, and the best support is in the range of 1957-1961. If it falls here, as long as there is no news that is not good for gold, there is a high probability that it will rise.
The specific strategy is:
1975-1967 Support valid:
Purchase time: 1975-1967
tp1:1979-1982
tp2:1984-1988
Stop loss below 1960
1980-1983 range resistance failed to break
Sales period: 1980-1983
Time: 1973-1967
Break through 1985 stop loss
GS Goldman Sachs exposure to Circle and USDC !!!Goldman Sachs has been a significant investor in Circle since the company's early days.
In 2015, Goldman Sachs participated in a $50 million funding round for Circle, alongside other investors such as IDG Capital Partners and Breyer Capital.
This funding round was notable for being one of the largest investments in a bitcoin company at the time.
Since then, Goldman Sachs has continued to support Circle, participating in subsequent funding rounds and providing assistance with the development and adoption of Circle's products.
In particular, Goldman Sachs has been involved in the development of Circle's USDC stablecoin, which is pegged to the US dollar and used for a variety of purposes, including facilitating international payments and enabling decentralized finance (DeFi) applications.
In addition to its investment in Circle, Goldman Sachs has also shown interest in other areas of the cryptocurrency industry.
In 2018, the investment bank announced plans to launch a bitcoin trading desk, although these plans were ultimately put on hold due to regulatory concerns.
Nevertheless, Goldman Sachs has continued to monitor the cryptocurrency industry and explore opportunities for involvement in this rapidly evolving market.
And I think there are new information about to be revealed about Goldman`s investments in Circle and cryptos!
If you want to buy Puts, here are my favorites:
2023-6-16 Expiration Date
$310 Strike Price
$14.40 Premium
Looking forward to read your opinion about it!
Gold is expected to drop to around 1870
Yesterday, gold continued to rise during trading hours. It fell from the 1905 level to around 1887, and a further drop of $10 would have completed the gap filling at the 1867 level. However, stimulated by the news of the collapse of Credit Suisse Bank, gold rebounded due to increased risk aversion. The subsequent release of PPI data was also positive for gold, with the underlying message being not to raise interest rates excessively.
At the same time, as I mentioned earlier, the bankruptcy of Silicon Valley Bank and First Republic Bank was more due to the Fed's interest rate hike that plundered global wealth. Now looking back, not only the economic wealth of the world but also the assets and various obscure funds of the rich and powerful were not spared. This is reflected in Swiss banks, which we all know have dealings with many wealthy businessmen, politicians, and cryptocurrencies, oil dollars, hedge funds, and so on. If Credit Suisse Bank collapses, it will cause a global financial storm, and at this time, the US dollar will rise. And in Europe and NATO, their stock indices and foreign exchange markets were collectively shorted, and these published data played a very crucial role.
Remember the bankruptcy of Lehman Brothers in 2008 when gold rose more than $100 for two consecutive days? It then fluctuated for a week, and after risk aversion receded, gold returned to its price before the news broke.
Now gold has risen from around 1805 to 1937, an increase of $130. From this perspective, it is not very safe to chase gold at 1937.
We cannot be sure how high gold will rise before market sentiment stabilizes, but at this stage, it is not suitable to take big risks and chase after it. The higher it goes, the greater the probability of falling to around 1867, and the further away it is from 1867, the greater the profit potential of shorting.
After gold rose to around 1937 yesterday, Switzerland began to rescue the banks, reducing the spread of panic and suppressing the continuous rise in risk aversion. Therefore, gold subsequently fell back to around 1910 and rebounded, currently at around 1920.
If it cannot break through 1940 today, gold is highly likely to form a double top. After all, the resistance above 1940 is still very clear. Of course, if it can rise by around $50 today, reaching around 1970, combined with the initial claims data to be released today, the probability of returning directly to 1867 will be even greater. This is how the market works. It always surprises us with unexpected events.
Therefore, in today's trading, if there is enough margin and a willingness to take risks, one can try to short a small amount around 1930-1940. If it can reach around 1965, then we can go short with a heavy position.
Of course, such a transaction is premised on the absence of news similar to a bank bankruptcy. Currently, the global situation is tense, and after such an event, the Fed's interest rate hike next week will at least reduce or even stop. By then, the market will show retaliatory rise, which will be negative for safe-haven assets like gold. It could suddenly drop after being pumped up, with no technical factors, only a profit-taking and risk aversion easing is enough to make gold drop by $50 in one day. Moreover, the gap filling at around 1867 is still possible. It is important to remain cautious and avoid being too optimistic.
Trader, if you enjoy my content, please follow and support me. I will update with more interesting trading information, including gold, crude oil, forex, cryptocurrency, stocks, etc. If you have any questions, feel free to leave a comment, and I will provide you with answers.
GOLD BUYWelcome . gold market . In very positive condition. With the price reaching the strong resistance level 1820 and breaking the pattern. Double bottom, with the descending flag breached, there is a lot of bullish pressure from the buyers. To 1845 levels in the first stage. And level 1870 good luck. Note: If you like this analysis, please
Gold rally nearing its end, beware of bearish attack
The Federal Reserve has been raising interest rates over the past year, and regardless of the level of those rate hikes, they are now approaching their end. During this year, how much of the global US dollar has returned to the United States, and how much capital was directed to American banks during the Ukraine crisis, when Switzerland's neutrality failed? Despite the prolonged interest rate hikes, inflation remains high, so reaping wealth is temporarily difficult.
This is why bank failures are occurring. Regardless, these banks are still making money, because their assets are greater than the insurance the country needs to bear, while also causing financial collapse and stock market declines in other countries, completing the final wave of wealth harvesting.
Now, the Federal Reserve is gradually slowing its rate hikes, and may even start cutting rates to provide liquidity support for banks. In fact, every time a crisis is resolved, it is about harvesting global wealth. After the world pays for it, they continue to loosen their monetary policies, print US dollars, and circulate them globally, until the economy improves, and then use various means to plunder wealth!
Currently, the market sentiment is rising, and we cannot rely solely on technical analysis to find support and resistance, as these are insignificant in the face of the Federal Reserve and bank failures. What I can tell you is that everything has its limits. When everyone has the same view of a trend, it is the time when the trend is about to end.
We cannot be sure where gold will rise to, but it will definitely fall back to fill the gap at 1867 later on, and the more space there is, the better for them to reap more wealth. They are probably not satisfied with the current space of less than $50, and it is very likely that they will continue to push upward.
Therefore, today we need to focus on the areas near 1919, 1931, and 1958-1967, because only by opening up a $100 space and letting people forget about the position of 1867, can we have a chance for sudden changes, such as a $100 drop in one day.
The recent trend in the market is that you can go long when the price drops by $15-20 from a high point, such as going long when the price drops from the highest point of 1915 to around 1900-1895. This is a relatively safe way to conduct long trades.
If gold rises by $40-60 today, we must be alert for a sudden attack by the bears!
Of course, they may also use tomorrow's data to achieve their goals.
Follow me and you'll get more interesting investment information! Plus, I'll share real-time trading strategies during trading hours, including stocks, gold , crude oil , forex, cryptocurrencies, and more!
Gold can go long
Gold has been fluctuating around the range of 1890-1914 today and has completed the initial support test. It is likely to attempt to break through the resistance near 1914. If it does, gold will rise to around 1919. If it fails to break through, it will continue to test the support around 1900.
Trading strategy:
Go long below 1903.
Gold: Today's Trading Strategy
Gold successfully regained the $1900 level under the push of various news. As of now, the follow-up handling of the SVB bankruptcy event only protects depositors without being responsible for the rights of shareholders and creditors. Following SVB, First Republic Bank also faced a run on its deposits, with its stock price falling more than 70% before trading was suspended yesterday. Prior to the suspension, the stock had fallen more than 60%. After opening yesterday, Cathay Pacific Wealth Management also fell by as much as 25%. 325 venture capital firms and 650 company founders issued a joint statement calling for the government to prevent disaster from happening, stating that Silicon Valley Bank must not fail. There has been no response yet.
Gold is under pressure today, fluctuating around the resistance level near 1914. From a technical perspective, the MACD on the 30-minute chart is about to form a golden cross, and the K-line is between the upper and middle bands of the Bollinger Bands, with a trend towards approaching the 1918 level, which is our first target for today.
On the 1-hour chart, the MACD indicator has formed a death cross and is currently showing signs of a turnaround. The K-line is near the middle band of the Bollinger Bands, and the upper band resistance is near 1919. Starting from near 1810, the K-line has been supported by the middle band and has been trending upwards. As long as it does not fall below the middle band, the trend is still biased towards the upside.
Therefore, I believe that today's trading is still suitable for focusing on buying on dips. Pay attention to the support levels of 1900, 1883, and 1865, and the resistance levels near 1918, 1931, and 1958.
Specific trading strategies:
The first buy point is around 1900-1906, and the second buy point is around 1890. If the resistance near 1914 is broken, 1910-1915 will become support levels and can be used as buy points.
The target levels are 1918, 1931, and 1958.
Thank you for your attention and support. Please also pay attention to the real-time updates below. The market is constantly changing, and I will adjust my strategies in real-time.
Gold: This will be the best trading strategy currently available
Gold has shown strong momentum today, breaking through the 1900 level. As of now, the upward trend has not been completely exhausted, and the risk of bank runs is likely to continue to drive gold higher. Our next resistance target is around 1918, followed by 1931, and if we can break through, 1958 will be our highest target in the near future.
During the upward movement, we need to pay attention to several support levels: 1900, 1887, 1863, and 1855. As long as the support is not broken, the price of gold will continue to rise.
At the same time, we need to pay attention to the follow-up impact of the recent SVB bankruptcy event, focusing on whether the Fed's response plan is effective. If risk aversion subsides, the probability of a sharp drop in gold prices will increase.
I will continue to track market trends and share my trading strategies. Thank you for your attention and support!
Gold Poised to Break New Highs?The collapse of Silicon Valley Bank triggered a sharp drop in the US dollar and sparked safe-haven demand, rescuing gold prices from a slump. The price of gold has surged for three consecutive days, breaking through $1,900 per ounce, and if it confirms a sustained breach above this level, it could open the door to reaching February's high of $1,960.
Last Tuesday, gold prices were under immense downward pressure as Federal Reserve Chairman Powell testified before the Senate, saying that the Fed was prepared to accelerate the pace of interest rate hikes, and that terminal rates may be higher than previously expected. This statement fueled expectations of higher interest rates, shifting the market's focus from betting on a 25-basis-point rate hike in March to a 50-basis-point rate hike, and raised the expected terminal rate of the Fed to over 5.7%.
Under these high expectations of interest rate hikes, the US dollar index surged to a near three-month high last Tuesday, causing gold prices to suffer a heavy blow, plunging over $30 per ounce, threatening to break below $1,800. However, just as gold prices were on the brink of collapse, a major black swan event saved the day. Last Thursday, media reports revealed that Silicon Valley Bank had suffered huge losses in US bond and mortgage-backed securities trading due to a decline in client deposits, and sought to raise $2.25 billion through the issuance of common and convertible preferred shares to avoid a liquidity crisis.
The crisis at Silicon Valley Bank changed market expectations for Fed interest rate hikes, causing the US dollar to fall and completely giving up the gains made in response to Powell's congressional testimony, and consequently, the price of gold rebounded and strengthened. On Friday, US non-farm payroll growth exceeded expectations, but the market was more sensitive to the unexpected rise in the unemployment rate and weaker-than-expected wage data, causing expectations of interest rate hikes to cool further and gold to surge $36 per ounce.
Although US officials announced emergency lending facilities and deposit guarantees to stabilize market sentiment after the collapse of Silicon Valley Bank before the Asian market opened on Monday, which had a soothing effect on the market, the US dollar continued to fall, boosting the price of gold. However, this improvement in sentiment was short-lived, as panic swept back into the market during the European session, driving up demand for safe-haven assets and intensifying the upward trend in gold prices. Meanwhile, the US dollar remained weak, continuing to support the price of gold.
With the combination of these two positive factors, the price of gold has broken through the $1,900 level during the US morning session. If this market trend continues, the upward momentum of gold prices is expected to strengthen further. Technical analysis of gold prices shows that breaking through the 1900 level would provide further upward momentum. The key level in mid to late January this year has now been surpassed, indicating further upside potential. If this expectation is met, the next target could be the range of $1,950 to the February high of $1,960. If there is a short-term correction, attention should be paid to the 1890-1900 range, which is expected to have turned into support and limit downside potential.