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Preciousmetals

The Gold Odyssey - Gold-ing Down over the next yearsI must attribute this post to my brother who texted me earlier this week asking for my opinion of where Gold is going. I did respond with a "Down" but I felt that I should also validate it properly. And lo and behold, I noticed a major pattern formation, that would break the previous trend/pattern. Gold appears to be on a VERY CRITICAL LAST DAY of the month. It needs to close well above 1685 to save it from the pattern break(down). Previously, since 2019, I started this series of The Gold Odyssey documenting Gold's bullish journey, andI think it is about time that Gold changes trend from Bullish to Bearish. The monthly Gold futures chart is shown here with two very similar pattern breaks. Well, in about 8 hours, we will know if there is a pattern break, and a new bearish pattern truly emerges... In 2011-2013, a major Gold top formed, and in this formation a couple of characteristics formed: 1. a monthly lower high was formed; 2. a breakdown below the 55 Hull EHMA; 3. a breakdown out of the triangle formation; and 4. MACD cross down into bearish territory In 2020, Gold made a historical high, and since then, Gold did these few things: 1. a monthly lower high was formed; ✅ 2. a breakdown below the 55 Hull EHMA; ✅ 3. a breakdown out of the triangle formation; and (candle NOT YET closed, on last few hours now) 4. MACD cross down into bearish territory ✅ The patterns are uncanny and a dead ringer for further downside, projected in a similar fashion to 1275 around later 2024. Conceptually, longer term patterns are more difficult to form (or break). Notwithstanding, the Gold monthly chart appears to be suggesting that the relatively trusty Cup and Handle pattern ( about 90% success ) is broken, and a bearish phase is developing with the monthly lower low and (potentially, at this time of writing) a break down out of the triangle. In summary, the long term technical set up here is suggesting that Gold will be bearish to 1275 over the next two years. Today, it is just the beginning. Food for thought here, especially for those who had loaded up in Gold over the last couple of years... will revisit once the month, and quarter, is done.
COMEX:GC1!Short
by Auguraltrader
Which is shinier: Bitcoin or Gold? Okay plebs, listen up. This is the chart I've been using to trade between precious metals and bitcoin, ethereum, and other cryptos. It is a custom chart, adding gold and silver with a modern ratio, doing the same with BTC and ETH, and pitting them against each other. What you get? A smooth chart that obeys technical analysis quite nicely. And here we have a compression triangle. I drew those dotted lines of the triangle before it pinged them the last 2 times upward and downward, so I know it's legit. And what happens with a compression triangle? When it gets to that last bit like it is now, it breaks out in one direction or the other. The direction is yet undecided, but it FAVORS the direction it was going before the triangle started forming. That is, it is more than likely to break out strongly in the upward direction, favoring precious metals. This has been building for quite some time, and indicates that the smart money has been rotating from the crypto sector to the PM sector REGARDLESS OF HOW YOU PERSONALLY FEEL ABOUT GOLD. I know, it can be a hard pill to swallow, but hey, the charts don't lie and I'd rather give it to you straight. Makes sense, afterall, we're in crypto winter atm. At the same time, global economies are unstable, which historically favors gold. While I believe one day digital gold will shine again, that day is probably a few years off at least. For now, real gold is what shines. Peace yall THIS IS NOT FINANCIAL ADVICE Want to know how I trade directly between cryptos and allocated physical precious metals? You'll have to ask me.
TVC:GOLDLong
by greenvention
1
XAGUSD BULLISH FORECASTHi traders, We closed our Silver trades manually after seing XAUUSD meeting our target faster than silver. We believe that these precious metals move together and thus the need to re-analyze to maximis our profits. We see XAGUSD looks to retest our resistance, we will take this bullish trade and sell again at the after it rejects on the resistance area. #Commodities #XAGUSD # Silver #Commoditytrading Disclaimer NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
OANDA:XAGUSDLong
by Mezzoforte_Privilege
Quality Short Opportunity on GoldAs Gold rebounds off of its lows I will be looking to start a short position as it enters the key resistance area (purple zone). I will stay patient to add most of the position on a final swing up to grab liquidity above the key zone and ultimately complete a bearish divergence. My short target is a macro golden pocket, the bottom of a macro parallel channel, and the next big support level on Gold. $1,575-1,550. Use proper risk management and a stop loss and this could be a very profitable trade, good luck! Below is a zoomed out image of the trade discussed, looks good.
TVC:GOLDShort
by farmtrader15
1
XAUUSD More BullishAs I expected price had a good growth and reverse after retesting the daily support level at 1695. Currently, we can see a bullish push and rise on XAUUSD. There is a key level between 1723 - 1726 which is a resistance zone and I expect a rise to this key level for price for now. We should wait for an upside breakout or a rejection after price approached to this key level. I personally think XAUUSD will continue growing up and there is a high probability of an upside breakout on the red resistance zone. If price broke the resistance zone and closed a bullish candle above this level in 1H, we can expect more rise to 1737 which is the next resistance. On the other hand, if price failed to break the resistance and got rejected strongly, we might see a drop to 1714, but generally I am on the bullish side for XAUUSD. What is your side? Fell free to share your ideas in the comments.
FX:XAUUSDLong
by Mahtab_Tradia
7
GOLD OUTLOOK 2022-2023Greetings community The precious metal is YET to get more precious. With price set to decline from it's critical resistance, anticipate short's from $1800's to mid $1600's. Technically, within a descending channel, we can have anticipation of formation of a double bottom (W) at the demand zone which would then lead us to the all time high (ATH) above $2000. Once false fiscal rumors and hopes are over, and uncertainty inevitably sets in, the metal will become more precious, and commodities will be the go-to safe haven for many; along with BTC & ETH for diversification. Notes: CPI Inflation & Interest Recession rumors Notice the similarity of charts in all that are considered both traditional and modern safe havens... Coincidence? I think not.
OANDA:XAUUSDShort
by unacknowledged
XAUUSD Update (Lower TF)As I expected in my previous analysis of XAUUSD, price had a rise after touching the daily support level and grew to 1711 and 1717, but it failed to break 1717.50 resistance level and got rejected. Currently, price has made a lower high and is facing bearish pressure. There is a support level at 1707.65 which has hold the price for now. We should wait to see if the yellow support level at 1707.65 will be broken or not in 1H time frame, and if price could close a bearish candle below this level to make a lower low, we can expect the downside continuation and a drop to 1695. Note: the previous analysis is still valid till the price makes its decision. If price could not break the support to be fixed below it, we need to wait for an upside breakout above 1717.50 and candle closure, then we can expect a rise on XAUUSD based on the previous analysis (attached below).
FX:XAUUSDShort
by Mahtab_Tradia
12
XAUUSD At Daily Support LevelAfter a significant big drop, price approached to the daily support level and was pushed to the upside. Currently, in the daily time frame, we can see a bullish candle for today with an upside pressure, but the main trend and the price structure are obviously still bearish. For now, we should wait to see if the daily support level will hold and push the price to the upside or not. First signal of this evidence would be a daily closure above the yesterday’s candle at 1711, if this happens, we can expect a little rise to 1717.45 which is a resistance level in 4H time frame. Then, if price breaks 1717.45, there is a high probability of an upside reverse and a growth to 1735.50 and 1758.50 On the other side, if the daily support level (1696) could not hold the price and was broken to the downside, the next target for price would be around 1675.
FX:XAUUSDLong
by Mahtab_Tradia
11
XAUUSD Bullish PatternWe have seen a significant drop on XAUUSD in the past few weeks to 1720 which was very close to my expectation in my previous analysis of gold, a drop to 1715. But, currently, we can see a bullish pressure and a higher low structure in the 1H time frame. If we take a look at the last movement of price, it had a strong upside move and then a weak downside correction which has made a bullish flag pattern as well. Although this is a risky trade, If price breaks the flag pattern and closes above this formation which is above 1738 in 1H, we can expect a rise on XAUUSD to 1751.
FX:XAUUSDLong
by Mahtab_Tradia
9