easyMarkets Gold 4-hour - Quick Technical OverviewAfter a sharp decline on Tuesday, Gold is now balancing slightly above our 38,2% retracement on the Fibonacci. Given that we have the Fed rate announcement on Wednesday evening, we will take a cautious approach and wait for the decision first, before getting comfortable with either of the short-term directional moves.
From the technical perspective, a break below the 1935 zone may invite a few more sellers into the game, possibly clearing the way towards the 1915 area, or even the 50,0% retracement.
However, to get comfortable with the upside scenario, we prefer to take a conservative approach and wait for a move back above the 1960 hurdle first. This way, the path towards the psychological 2000 area could opened once again.
Disclaimer:
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Metal
Copper - Weakest metal- pt.2As per previous post, , we are shorting copper from 413, since we believe wave B as been completed at 435, creating a bearish wolfe wave pattern, and a wave C to the downside is beginning to unfold.
Our stop loss is on entry and the tp is at the wolfe wave target line at 364.
XAUUSD is accumulating for a 1925 target.Strong 1D candle for Gold today, still some way off the 1day MA50. The rebound was achieved on the 1day MA100.
There are strong similarities between February-March and August-October as you see. The rising RSI validates that the pattern is on the Double Bottom pricing. One last drop for a Triple Bottom is possible.
Perfect time to buy and Target Fibonacci 0.786 at 1925.
Follow us, like the idea and leave a comment below!!
GOLD - Potential Buy Setup - Analysis #2/50Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on WEEKLY: Left Chart
GOLD is retesting a support zone and round number 1800. So we will be looking for buy setups on lower timeframes.
on H1: Right Chart
For the bulls to take over, we need a momentum candle close above the last major high in red.
Meanwhile, until the buy is activated, GOLD can still trade lower till the 1800 support or even break it downward.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
XAUUSD on February's Support ZoneXAUUSD after its biggest daily drop in recent months, it reached the Support Zone of February.
The MA50 (1D) has entered this Support Zone and can support as it is intact since November 10th 2022.
Legitimate short term buy opportunity.
Trading Plan:
1. Buy on the current market price.
2. Buy if the price breaks over Fibonacci 0.382 and retests the Pivot.
Targets:
1. 1280 (MA50 (4H) and Pivot).
2. 1856 (Fibonacci 0.618 and Resistance 1).
Tips:
1. The RSI (4H) is rebounding after breaking deep into the oversold level. It has been a strong buy signal before.
Please like, follow and comment!!
XAUUSD Trading approach based on the MA50 (1D)Gold reached a harmonic Resistance, previously being a Support.
During the uptrend such levels when tested as Supports and held, extended the uptrend.
If we are on a new downtrend, this level has to hold.
Trading Plan:
1. Sell as long as the price is below the harmonic Resistance (white line).
2. Buy is it crosses above the MA50 (1D).
Targets:
1. 1960 (Resistance 1).
2. 1780 (MA200 1D) and 1740 (lower liquidity level).
Tips:
1. The MACD is also inside its 3 month Resistance Zone. The next Bear Cross will confirm the downtrend.
Please like, follow and comment!!
GOLD - Good Opportunity Hi, this is my new update for GOLD. In the month of February gold lost 8% of its value, but I think that was a healthy correction to get a bullish momentum in March. We tested big support level around 1800 - 1820$ and the same time we also tested 50 and 100 weeks moving averages and those levels helped us to get big bounce and break the down trendline channel. Right now we are going to test both the resistance 1858 - 1864$ and the 50 days moving average. I expect we are going to get a temporary pullback from the resistance and perhaps it is going to be the last accumulation for the traders and after that we are going to break those levels. It has higher probability that we are going up, since we have two beautiful gaps that we have to fill.
GOLD - Shift In Momentum In Action! 🥇Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on WEEKLY: Left Chart
GOLD is approaching a support zone and round number 1800. So we will be looking for buy setups on lower timeframes.
on H4: Right Chart
XAUUSD is bearish from a short-term perspective trading inside the falling red channel.
🏹 Trigger => for the bulls to take over, we need a new swing high to form around the upper red trendline and then a break above it.
Meanwhile, until the buy is activated, GOLD can still trade lower till the 1800 support or even break it downward.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GOLD - Our Safe Haven!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for GOLD.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
✳️ Metal Hits New High As Soon Bitcoin RetraceAs soon as Bitcoin went a minor retrace, Metal (MTLBTC) moved up strong and hit a new high... This is the same signal I used in the past to predict additional bullish action for Bitcoin.
When Bitcoin drops, everything drops.
When Bitcoin drops but the Altcoins grow, this is a signal that Bitcoin is only going through a retrace before additional growth.
This is great news... Enjoy the profits!
Namaste.
GOLD - Wait For The Bulls!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on WEEKLY: Left Chart
GOLD is approaching a support zone and round number 1800. So we will be looking for buy setups on lower timeframes.
on H1: Right Chart
XAUUSD is bearish from a short-term perspective trading inside the falling red channel.
🏹 Trigger => for the bulls to take over, we need a new swing high to form around the upper red trendline and then a break above it.
Meanwhile, until the buy is activated, GOLD can still trade lower till the 1800 support.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Gold Price Prediction at the Announcement of CPI Data ReleaseSo I predict that there will be a bounce towards the price of 1880, after that whether immediately or slowing down, Gold will decline again. The profit target is at the price of 1776.
Note: Remember, this is not financial advice. Always follow your own analysis. Thank you and good luck.
MTLUSDT 4HMTL is an Ethereum token that powers Metal's products and ecosystem. Metal is a payment processing application that offers its users the ability to convert their fiat currencies into cryptocurrencies and vice versa.
At the moment, it is transiting the median of the Keltner Channel, inside a triangular formation that will probably break upwards since the MTl is 85.72% below the historical maximum.
the asset circling above the Ichimoku cloud demonstrates a clear command of the complyers being confirmed by the RSI which is clearly exhausted from selling forces. The price of Metal has increased 27.64% in the last 7 days, it has retreated, but I believe it will break the upwards trianule.
Here are the supports and resistances in the 4H:
Main support levels : 0.998 / 0.912 / 0.843
Main Resistance Levels: 1,158 / 1,297 / 1,578
MM200: 0.910
AMBP is very close to break SMA 200 - extending its gainsAMBP shows strength. It is a continuation pattern and there is a high probability it breaks the SMA200 and continues further. If it manages to do so, then at least 6.60$/share could be a realistic target. Protect with a trailing stop of around 15%
GOLD - Trend-Following Buy Setup!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
🗒 GOLD has been overall bullish trading inside the blue rising broadening wedge pattern.
Moreover, the 1900.0 level is a strong support and round number.
📌 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support zone and lower trendline in blue acting as a non-horizontal support.
📉 As per my trading style:
As GOLD approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
✳️ Metal Looks "Shaky" vs BitcoinI have to honest with you, always... And the way the MTLBTC chart looks like is just "shaky"... Doubty , if that word exists.
But there is still something that calls me about this chart... Consolidation since November, higher lows, bullish RSI...
Aha! It is about the cycles, the market cycles and the chart setup, risk vs reward for a trade.
If the bullish potential is there, if the market cycle is about to change, if the risk is low... One can jump with good probability of not being wrong.
15% risk is pretty good... It doesn't mean that you will win or have to win, this is the maximum that you can lose.
Well defined risk.
The target can be 60%, 80%, 100% or more.
Low risk vs high potential for rewards.
You don't have to hit them all.
You just need a plan.
Diversify.
Learn from mistakes and in time, you, your capital, your wealth and your trades will all grow.
Namaste.
SILVER - Still Bearish? 🥈Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
SILVER has been overall bearish trading inside the red falling broadening wedge, and it is currently retesting the upper red trendline.
Moreover, the zone 25-26 is a strong resistance zone .
📌So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper red trendline. (acting as non-horizontal resistance)
📕As per my trading style:
As SILVER is around the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
“Although gold and silver are not by nature money, money is by nature gold and silver.” – Karl Marx
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
🗒All Strategies Are Good; If Managed Properly!
~Rich
XAUUSD - Detailed Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for XAUUSD.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
GOLD - Around Strong Resistance! 🥇Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
GOLD is overall bullish trading inside the rising red channel, however, it is currently retesting the upper red trendline.
Moreover, the zone 1870 - 1900 is a strong resistance zone .
So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As GOLD is around the upper purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich