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Safehaven

Time for PAXG?As a crypto asset backed by real gold, is it time to put some money in PAXG in case of the upcoming big recession ? Well to answer that, YES and NO... 1. We don't know when will the recession comes 2. We don't know whether it will come or not (LOL) But still, it's better to be safe rather to be sorry!!!! My entry price point would probably be in the fibonacci retracement level (fib box)... As I still believe the bull or this cycle economic hype isn't over yet, I am waiting for a better entry point before putting my money on gold or crypto backed by gold!!! Yes it can certainly goes way more down before we found a bottom in case the economic bull is too strong... but interesting thing to keep in mind is that, we have a strong red line that has ben perfectly tested 3 times... I have put a green marker on it!!! So with this in mind, scaling in into gold backed asset would probably a good idea as to minimize your risk... Still, this is just my speculation, and gold could also soar high from this point and we don't see any retracement especially as many investment company or retail investor are now looking at gold... #NotFinancialAdvise #PersonalView
by ZombieGod11
Gold 1-day classic patternsQ: What has the highest probability of occurring? In 2021 gold has been rotating between $1900 and $1700 per ounce. While a variety of classic patterns have either formed or attempted to form throughout the year there appears to be a broader attempt at a double bottom in 2021. The double bottom, having recently tested and rejected 1700, would need to breakout from ~1915 to be validated. This pattern projects 2150 as the target. Objectively gold was in a very strong uptrend from 2018 through 2020 and after making a new all time high in August 2020 the price has corrected almost 20%. There is clear support at 1700 and resistance at 1900. Continuing range bound price action suggests a mean price of 1800. The price is not going to reach 2150 on its own volition. Some factor's worth considering include risk-on/risk-off sentiment, Federal Reserve monetary policy, US Dollar valuation, political events, government trading, and the global supply from mining. Since the double bottom is not validated the current position is neutral with a bias in favour of mean reversion about 1800.
OANDA:XAUUSD
by xciiitradingco
GOLD - TRIO RETEST!GOLD is overall bearish trading inside the orange channel so we will be looking for Trend-Following sell setups as it approaches the upper orange trendline. The highlighted purple circle is a strong area to look for sell setups as it is the intersection of the orange trendline, green resistance, and brown trendline retest. What I call "TRIO RETEST" As per my trading style: As GOLD approaches the purple circles, I will be looking for reversal sell setups on lower timeframes (like a double top pattern, trendline break, and so on...) Unless the bulls break above the green zone again, then we will be looking for buy setups on its retest. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
OANDA:XAUUSDShort
by TheSignalyst
46
GOLDI feel like we have a few more days/weeks of this tight consolidation before another move, 50/50 on the fence here during various times of uncertainty in the markets alot of people claim to rush to gold, how ever often gold markets go with the initial move of equity markets and then can some times recover strong when the dust settles. The current range I think has been defined and the key levels im watching now is 1765 and 1796 but wanting to see the volume spike before a rally with in the range to either the downside or upside. Happy to enter at market with low leverage and wide stops to reduce being taken out early as i doubt we will get the ideal retest for a better RR. At the end of the day I still feel gold is ranging with in the 1680 and 1920 level so not expecting fireworks out side of this small break just an idea of direction and a short term trade.
OANDA:XAUUSD
by DeNomics
2
Gold Shorts Trying To Exert Their Muscle On HourlyXAUUSD is in the bearish area as per the daily chart on the left. The hourly on the right: gold bears are trying to push price down and the EMAs have crossed bearishly in this regard. However, we note the previous candle has a buying tail, indicating that the bears are fighting support at current levels. Angle and separation to the downside by the EMAs and a bearish stochastic cross potentially align short-term traders with the daily. If signals occur, movement of stochastic to 20 level and maintenance of that level increase chance of a successful trade. Trend following indicators may be useful in this case as a potential exit tool. Stop above hourly high in conjunction with risk management techniques.
FX:XAUUSDShort
by FXCM
3
Gold: Weekly Forecast 20210613The bulls for gold are not able to make any progress and if any, they've failed to maintain bullish momentum. Since the consolidation started at the beginning of June, gains have been swallowed constantly and highs are getting lower. The breakout of the rising channel failed to continue and the price eventually fell all the way back to the bottom of the channel with little support towards the end of last week. It seems that buyers are reluctant to add more position ahead of the Fed's meeting, weighing the odds of early tapering. However, we will focus on buying since the price is still sitting well above the equilibrium level of 1858. This week, we will be looking for buying opportunities at the opening of the market, followed by the equilibrium level at 1858. We want to keep in mind that the global economy is currently facing a high risk of fast-rising inflation and that always work well for gold.
FX_IDC:XAUUSDLong
by AlgoVenture
Gold: Weekly Forecast 20210530Gold was pretty much as bullish as expected, resulting in the biggest monthly gain in 10 months. The gold continued to prove its value in times of uncertainty and rising inflation, coupled with falling asset prices, causing higher demand for the safe-haven assets. We continue to see the gold pushing higher towards 1950 before any strong selling may occur. This week, we shall continue to look for buying opportunities. Should the price pulls back at first, we can look to buy at 1880, followed by 1863.
FX_IDC:XAUUSDLong
by AlgoVenture
GOLD - Potential Bearish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow. GOLD is sitting around supply and round number 1900.0 so we will be looking for sell setups on lower timeframes. on H1: GOLD formed a valid channel (in red) but this setup is not ready to go yet. We are waiting for the sellers to take control. (projection in purple) Trigger => Waiting for a momentum candle close (H1) below the last low (gray area). Until the sell is activated, GOLD would be overall bullish and can still trade higher till 2000.0 As price approaches the lower orange trendline from H4, we will be looking for trend-following buy setups. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
FOREXCOM:XAUUSD
by TheSignalyst
29
Gold Technicals Are Looking GreatWIth Gold being under pressure this week, I am still looking for gold to continue to fall to the down side short term. However, long term I am still bullish. WIth all the money printing and failed monetary policy that is being implemented on a global scale; I am predicting Gold to rise to at least 2300 by 1st quarter 2022. Yes, we are some ways off, but I am more of a long term trader. I do not trade every day, but my setups profits are phenomenal when I see a setup like what is taking place in Gold. Well we appreciate you for checking out our post and remember, we will see you on the other side. Rodrick (CEO) Third Eye Traders
OANDA:XAUUSD
by ThirdEyeTraders