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TradeCityPro | Gold : World War III Rumors👋 Welcome to TradeCityPro! In this analysis, we’ll delve into gold's performance and its potential scenarios in light of rumors surrounding a possible World War III. 📅 Weekly Timeframe: Upward Leg After ATH Breakou t On the weekly chart, after breaking the critical resistance level of $2020, gold experienced a sharp rally with large bullish candles, climbing to $2400. Following a brief consolidation period, the rally continued, pushing gold to a resistance at $2751, where it registered a new ATH at $2790. 📊 Notably, both of these recent highs were accompanied by the RSI reaching 80.69, signifying a strong resistance level in the RSI. This level could serve as a key indicator to identify trend reversals in the future. 🚀 Overall, 2024 has been a bullish year for gold, with its price increasing by over 30% since the start of the year. Given the shallow corrections and strong weekly candles observed so far, gold now appears to be entering a corrective phase, which is natural and supportive of the ongoing bullish trend. 🔽 Should a sharp correction occur, the first short-term support in this timeframe is at $2409. However, this level isn’t highly reliable, and it would be prudent to wait for gold to establish a new price structure. 🧩 The SMA99 indicator reveals a significant gap between the price and its moving average. Since price and moving averages are often attracted to one another, this large distance suggests a heightened probability of a correction. 📅 Daily Timeframe: Corrective Phase In the daily timeframe, after reaching resistance at $2789, gold has entered a corrective phase, forming a non-failure swing pattern. Additionally, the price reacted at $2558, which aligns with a trendline, indicating a dual level of support. 🧲 For the non-failure swing pattern to activate, the trendline must break along with the support level at $2558. If the price closes a candle below this area, the pattern will confirm, opening the door to further declines. 🔑 The next key supports are at $2472 and $2285. Considering the undeniable weakness in this timeframe and the Dow Theory bearish pattern, further corrections are likely. 🎲 Currently, the RSI is pulling back to the 50 level, while the price has returned to test the SMA25, after initially breaking below it. If the price gets rejected from the SMA25 and the RSI continues to decline, the likelihood of breaking the trendline and activating the non-failure swing pattern increases. 📅 4-Hour Timeframe: Futures Triggers On the 4-hour chart, the price has completed its correction of the upward trend and is now attempting to resume its uptrend. Given the bullish momentum seen in the daily and weekly timeframes, if higher highs and higher lows form in this timeframe, it could signal the start of a Lower Wave Cycle (LWC). The targets for this uptrend are $2713 and $2789. 🔼 If the price continues its corrective movement, breaking and closing below the triggers at $2610 and $2558 could provide a solid entry point for bearish trades. ✅ The RSI has now reached the overbought region, suggesting a potential short-term correction before continuing the upward trend. If no correction occurs, the trend could become unhealthy, and such trends are often unsustainable. Gold remains in focus as geopolitical uncertainty, including World War III rumors, adds to its appeal as a safe-haven asset. Keep a close eye on these levels and scenarios to plan your trades effectively. 📝 Final Thoughts This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
OANDA:XAUUSD
by tradecitypro
1
GOLD BUY W3 THREATThe gold price can surge to unprecedented highs during periods of heightened tension in the Middle East for several reasons: Safe-Haven Demand: Gold is often viewed as a safe-haven asset during times of geopolitical uncertainty. When tensions escalate in the Middle East, investors may seek the perceived safety of gold as a store of value. This increased demand can drive up the price of gold. Risk Aversion: Geopolitical tensions can lead to increased risk aversion among investors. They may become more cautious and seek out assets that are considered less risky, such as gold. The uncertainty surrounding potential conflicts or disruptions in the Middle East can prompt investors to allocate more capital to gold, pushing its price higher. Supply Disruptions: The Middle East is a significant region for oil production, and any conflict or tension in the area can disrupt the supply of oil to global markets. This can lead to broader concerns about economic stability and inflation, further boosting demand for gold as a hedge against such uncertainties. Currency Devaluation: Geopolitical tensions can sometimes lead to currency devaluation, especially in countries directly involved or neighboring the conflict zone. Investors may turn to gold as a hedge against currency depreciation, further driving up its price. Market Sentiment: Geopolitical events can have a significant impact on market sentiment, driving speculative trading in gold futures and other derivatives. As tensions escalate, traders may bet on further increases in gold prices, amplifying the upward movement. It's important to note that while geopolitical tensions in the Middle East can certainly influence gold prices, other factors such as central bank policies, inflation expectations, and overall market sentiment also play significant roles. Additionally, the actual impact on gold prices may vary depending on the severity and duration of the tensions, as well as other concurrent economic and geopolitical developments. - ZTrades
OANDA:XAUUSDLong
by ZILATRADES
GOLD AND WORLD TENSIONS GOOD DAY FELLAS Gold, represented as XAU USD, is currently trading at 1980 USD. While many market participants expect gold to break its previous high of 2080 USD, there are diverging opinions on the future price direction of gold. In this analysis, we will explore the fundamental and technical factors that could influence the price of gold in the short and long term. Fundamentally, gold is seen as a safe haven asset, and its price is often influenced by geopolitical tensions and economic uncertainty. The US dollar is also an important factor in the price of gold, as they are inversely correlated. As the dollar weakens, gold becomes relatively cheaper for holders of other currencies, and demand for gold tends to increase. Conversely, when the dollar strengthens, the demand for gold weakens. Currently, tensions around the world are high, and there is economic uncertainty in various regions. The US dollar is also under pressure due to the increasing national debt and the ongoing tensions. These factors suggest that demand for gold could increase in the short term. However, I believe that the US will not allow markets to turn against the dollar, which could impact the price of gold. From a technical perspective, i believe that gold is currently undergoing a correction on the weekly time frame. This correction is targeting the downward support zone, which intersects with the golden ratio of Fibonacci at 1370-1500 USD dollars. This zone is seen as an attractive level to buy gold. Fibonacci ratios are often used by technical analysts to identify potential levels of support and resistance in financial markets. In summary, the current price of gold is 1980 USD, and there are diverging opinions on its future price direction. While geopolitical tensions and economic uncertainty could support the price of gold in the short term, the US dollar and government intervention in markets could limit its upside potential. From a technical perspective, gold is currently undergoing a correction, and a potential buying opportunity is seen at the support zone of 1370-1500 USD dollars A LIKE ON THIS POST WOULD HELP ME A LOT IF YOU PLEASE ,,
OANDA:XAUUSDShort
by Htback
3
bitcoin and world war 3Good Day Everyone It is understandable to feel cautious about investing and trading in the current geopolitical climate. There are indeed tensions between several countries, such as China and the USA, Israel and Iran, and Russia and NATO, among others. These conflicts could potentially escalate and lead to a full-scale world war. However, it is important to keep in mind that predicting the occurrence of a world war is complex and uncertain. While there are geopolitical risks, these do not necessarily mean that trading in decentralized assets like cryptocurrencies will inevitably result in the loss of all your money. Investments, including trading in cryptocurrencies, always involve risks. Risk management is an essential aspect of investing, and it is up to each individual to assess and manage their own risk tolerance. While the current global situation may warrant caution, it is important to remember that diversification is key to managing risk. Bitcoin, the world's largest cryptocurrency by market capitalization, has recently been trading at around 29,000 USD. This is a significant drop from its all-time high of nearly 65,000 USD in mid-April 2021. The volatility of Bitcoin and other cryptocurrencies is well-known, with prices often fluctuating wildly in response to a wide range of factors, from news events to regulatory changes and market sentiment. One major factor that is currently contributing to the uncertainty and volatility in the cryptocurrency market is the prospect of a potential world war. While the likelihood of such an event remains uncertain, there are certainly many geopolitical tensions and conflicts around the world that could potentially escalate into something more serious. In such a scenario, investors may be looking to reduce their exposure to high-risk assets like cryptocurrencies and move their money into safer, more stable investments. It is worth noting, however, that the decision to pull out of cryptocurrencies and other high-risk assets should not be taken lightly. While these investments can be volatile and risky, they can also offer potentially high returns for those who are willing to take on the risk. Moreover, there are many factors that can affect the price of cryptocurrencies, including government regulations, technological advancements, and changes in investor sentiment. Therefore, it is important for investors to carefully consider their options and assess the risks and rewards of different investment strategies. It may be wise to consult with a financial advisor or investment professional before making any major investment decisions. In the meantime, it is important to stay informed about the latest developments in the world and to monitor the situation closely. While there is no way to predict the future with certainty, having a solid understanding of the risks and opportunities in the market can help investors make informed decisions and navigate the ups and downs of the crypto market.
by Htback
1138.72 failure to launch the EtherWar with Ukraine and Russia will escalate soon. EU and NATO have joined forces with Ukraine. learn more on WION youtube channel or google gravitas. if you don't know whats really going on then i suggest you wake up. Recession and another World War may soon be our reality. The market will crash and unfortunately crypto will crash with it. Get out while you still can. GOD BLESS THE USA!!! This chart is a 2 hour inverse W pattern. it keeps testing the .50 fib 1138.72 ETH Failed hard. if it breaks the W . find another level here around 1280.54. But don't hold your breath.. We are head south baby!! hook up with some leverage and hitch a ride and bask in wealth before the end of the world! I warrant that the information created and published here on TradingView is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
COINBASE:ETHUSDShort
by Hessinator
BTCUSD D1 LONG-TERMThe announcement of the new package of Sanctions on Russia are about to spike the #Bitcoin price as EU has just announced that they will cut out Russian participation in the financial sector. With Russia owning most bitcoins, the EU's sactions to exclude Russian banks on the financial markets could be the biggest driver for Bitcoin to move bullish. If $29700 level holds, I anticipate #Bitcoin to be heading towards $50206-$53536 in a long term. Lets wait and see how the Russia/NATO tensions unfolds, as this has become a war between Russia and the West as opposed to Russia/Ukraine tensions.
BITSTAMP:BTCUSDLong
by Nkululekokhoza
1