Get started

Goldshortsetup

Trade Plan for Gold (XAUUSD)Gold is currently moving within a descending channel, indicating a downtrend. It is consistently setting lower highs (LH) and lower lows (LL), confirming bearish market sentiment. Additionally, the RSI is in sync with the price action, reinforcing the downtrend. Entry Point: Sell at 2603, which serves as the next significant resistance level. This level is also close to the 0.382 Fibonacci retracement derived from the previous Lower High (2709) and Lower Low (2534). Stop Loss: Place the stop loss at 2710, above the last Lower High (LH), ensuring protection against false breakouts. Take Profit Levels: TP1: 2496, aligning with the lower boundary of the descending channel and maintaining a conservative target. TP2: 2389, aiming for the continuation of the downtrend if the price breaks the next support levels. Trade Notes: Monitor RSI for divergence or loss of momentum near critical levels. Confirm the continuation of the descending channel by observing price behavior near 2603 before entering the trade. Adjust the plan dynamically based on any breakouts or unexpected shifts in the broader market sentiment.
CAPITALCOM:GOLDShort
by Naqash16046
Gold's Local Minimum: A Magnet for Price Action?So, the trading week is behind us, and it’s time to kick back a bit, assess the price action, and build a trading plan for the upcoming week, keeping the main drivers in mind. Today, let’s focus on Gold. Looking at the COT reports: there’s a divergence between the positions of the Commercials and the movement of the underlying asset. What does that mean? It suggests that hedgers don’t see the need to increase their hedge positions (in the case of Gold, that means short positions). The interpretation here is that there’s a high probability of a correction in the underlying asset. Retail positions show an average aggregated long position around $2707 (according to open-source data). So, for now, the average positions are in the green, which means the bulls are feeling good, but that’s not all... Remember that level $2707; we’ll come back to it later. The options sentiment is mixed, with some repositioning in portfolios targeting both up and down, but with a slight bias. The specifics of these adjustments tell me that a correction is expected, but overall, the options traders still see the trend moving upward. Now, let’s take a look at the chart and summarize. Remember that level $2707 I mentioned earlier? Let’s find it on the chart. Oops... turns out that’s a local minimum. So, here’s the deal: there’s a level with liquidity (open positions + local minimum), in other words, we have a "magnet" that will definitely attract the prices. Personally, I stick to a trading strategy of not trading against the trend, even if a correction is confirmed by my analysis. But for some, that potential downside might look appealing enough to open a short position. Good Luck and Have a Nice Weekend!
OANDA:XAUUSDShort
by ClashChartsTeam
Gold 70,100 possible !!we have seen on daily time frame price formed rising wedge pattern on friday 7jun we seen a bearish big candle confirming the breakdown of the pattern price then tried to take a bounce from recent orderblock but we can clear see that the bearish pressure is not letting the bullish orderblock go any further up causing the price to form a small triangle pattern which will eventually work as buildup for more down side and we can 70,100 level in coming days will further after price hits 70,100 level follow for more
MCX:GOLD1!Short
by Jimmy_Rebello
Gold (GC11 Futures) Mid Term Analysis - SHORTLast week saw a lot of emotional buying of the market. While some short positions were not viable later in the week, there has now been a clear rejection from: 1) The higher zone mentioned prior: 2) The previous long term weekly H&S pattern mentioned back in August: In terms of current price action, it seems that an inverse H&S pattern is forming on the daily. We can also see that in terms of the RSI - with tweaked values more suited for long term analysis - that the price is EXTREMELY overbought. Note on the chart that historically - when using my specific settings - that there is a high probability for a reversal. In terms of the DXY, TECHNICALLY it is still BULLISH on the daily, and has been simply consolidating for the past few days. Please note this infographic: The probability for a move down for Gold seems more likely. There are two scenarios: 1) A retrace to the first minor zone around 1973.5 - 1967, based on the Fibonacci retracement of the recent daily impulsive move. The bottom point starting from the low of Monday 16th, and the high point being Friday 20th. 2) A retrace to the purple zone, starting at 1940.5, extending down to 1921. This is based on the Fibonacci retracement of the recent weekly wave up: . Scenario 2 seems more like of the two, as it would be a logical place for the final shoulder to form in line with this analysis. There are a variety of ways to approach an entry for this week: 1) Buy PUT options around this price. If you do not have access to this functionality because you are trading CFD's, look into using the broker "Avatrade". They feature short term options spanning a few days, and while they are as powerful as traditional options, it can shield you from some of the short term volatility. 2) Look for a breakout sell below the low of Fridays candle, that being 1983.7 on the Futures. 3) Look for to short the 0.618 retracement of Fridays candle. 4) Look to short near the top of Fridays wick, essentially forming a double top. 5) Wait for a confirmed flip of the 21 / 55 EMA's, and look for a short around a relevant pivot. I will be opting for approach 1, as well as approach 3. Manage your risk accordingly. Just as a final note: Please note, there will be times where losses will be taken, but if you are entering around historical areas of support / resistance, they will be extremely negligible compared to your overall profits. Aim for points, not pips. Also please keep in mind, it is good practice to take profit as a position runs. Taking some profit out after 5 to 10 points is not a bad thing. I hope this analysis will help you for the week ahead. I will be posting more closer to time analysis throughout the week. The majority of my time will be spent either here OR in private chat, so if you have any questions, feel free to ask! Good luck! Disclaimer: This is not financial advice.
COMEX:GC1!Short
by Aaron_K_Trading
Gold Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:XAUUSDShort
by ShahedZare
Gold is ready to tumble to $1,810 before the riseIf you haven't followed my analyses for the last 15 years. You'll know, I am a BIG gold bull. Yes I know gold hasn't performed as well as it did in the 50s, 60s, 90s etc... But it's the tortoise of commodities with the algorithms, the exposure in longs and shorts and with the greater variety of safe-havens. But Gold will eventually head up to $100,000 eventually. It's a waiting game. For traders however, there is a short opportunity for downside which looks juicy on the radar. We see an Inv Cup and Handle on the daily. The price has broken below the brim level, and there is a current test on the resistance. It could even break above the brim and head and test the downtrend line. But right now the opportunity is leaning more to a short and downside to come. Other indicators confirm. 21>7 Price>200 (Price heading to this level) RSI<50 and lower highs (Sell divergence). My first target is down to $1,810 then we will re-evaluate the next opportunity.
COMEX:GC1!Short
by Timonrosso
GOLD - Short Trade Setup - We Need To See One More LowThis short trade setup is a high probably move to the downside which should complete the overall Wave E pattern. In the video linked below I explain in further detail what we are looking at here. Entry: At Market Stop: $1811 Target: $1677 Risk Reward Ratio: 9 Remember to use Disciplined Money Management Principles to ensure longevity as a trader. If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd? Just remember: I am not a financial advisor, I suggest using this only as a guide. Always do your own research.
OANDA:XAUUSDShort
by AriasWave
GOLD - Short Trade Setup Video - We Need To See One More LowIn this video I explain what we are seeing here and what this pattern is. Given that I have adjusted the type of pattern identified and added the channel, this indicates that the downside is limited. In order to complete Wave E we need to see the last part of this wave v zig-zag unfold and make one new low. Entry: At Market Stop: $1811 Target: $1677 Risk Reward Ratio: 9 Remember to use Disciplined Money Management Principles to ensure longevity as a trader. If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd? Just remember: I am not a financial advisor, I suggest using this only as a guide. Always do your own research.
OANDA:XAUUSDShort
by AriasWave
Gold Short Swing Potential Hi Traders, Ending this week off on a big red after Thursdays crash, gold finding support around 1745. With Friday showing more buying pressure than selling pressure we would expect price to retrace slightly to around 1773 - 1780 before FOMC. This would give us a good area to short for the possibility of tapering starting on the 22nd of September. The Dollar has been very strong over the last few weeks and with inflation on the decline, jobs opening up as well as jobless claims on the decline it seems promising that we could see gold make a new low breaking the 1676 mark. This would give another very good opportunity to swing long from a good price before Covid Delta impacts the economy. Resistance on the 200MA as well as a defined downward channel still gives us indication that we are short Gold, it's down until it's not down. This could be a 1:26 R:R trade, please trade with caution. This is not financial advice TH from RT_Trading
OANDA:XAUUSDShort
by RT_Trading_
3