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Preciousmetals

XAUUSD Bullish retracement for MN timeframeHi traders, After a successfull sell off ollowing a sccessful bearish wave we see the XAUUSD/ Gold commoditity pull back on the resistence of our monthle bearish channel. We will now call it our support. The pullback will lead us back to the neckline of our double bottom which was from to complete it. Once completed, we anticipate a massive sell off to the crashing XAUUSD commodity. The second option is that it violated the double top, in this case, we will wait for a tripple top to form and catch it after three confirmations. #Preciousmetals #XAUUSD #Goldcrash
OANDA:XAUUSDLong
by Mezzoforte_Privilege
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