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MGC1! trade ideas

Weekly Forex Forecast OCT. 28: BUY GOLD | XAUUSD!This weekly forecast is for Oct 28 - Nov 1st. Gold is still bullish, and BUYS are still the best bet. The formation of the highlighted Weekly and Daily +FVGs confirm the bullish order flow. Buys are in order. I will be avoiding sell setups in this market. Check the comments section below for updates regarding this analysis throughout the week. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
COMEX:GC1!Long
by RT_Money
4
#202443 - priceactiontds - weekly update - gold futuresGood Evening and I hope you are well. tl;dr gold: Clear two legged pullback on the 4h chart. Could be enough for the bulls to take control again and go for 2800 on Monday/Tuesday. If they fail below 2780 again, we could see a more complex pullback down to 2700. Market is clearly still max bullish and I doubt we see better selling until we hit 2800 or even 3000. Quote from last week: comment: Bullish it was and still is. 2800 is the next big target to hit. After 4 very strong consecutive bull bars, you can not hold a bearish thought while the market makes daily new ath. Two upper bull trend lines are still to hit, one of them leads to 2760 and the other to 2800. On the monthly chart we are in a 8 month micro channel upwards without any selling pressure. At some point market will pull back more and we will see a correction but until we see much greater selling pressure, we can not trade on hope. comment: Minor pullback by the bears but they can not get follow through selling and that is why we can only conclude higher prices. We are trading near the top of the bull channel but we can just continue to do so until we hit 2800, which is my next upper target. I do think around 2800 we will see some bigger profit taking. current market cycle: very strong bull trend (trade the channel until it is clearly broken) key levels: 2650 - 2800 bull case: All arguments are on the bull side, again. 2800 is the target. Anything below 2680 would surprise me. I don’t expect much interest from buyers above 2800 though. Invalidation is below 2680. bear case: Bears got nothing. Again. Daily 20ema is at 2700 and the lower bull channel line is not far from that. If bears get there before 2800, that would surprise me and I do not think those two supports have a decent chance of being broken. If they somehow manage to do so, 2620 would be the next support. I do not have any bearish thoughts about this market until we see 2800 and then much more sideways movement to conclude that market found resistance. Invalidation is above 2820. outlook last week: short term: Bullish for 2800+ → Last Sunday we traded 2730 and now we are at 2754. Meh outlook. Still not 2800 but we are probably getting there next week. short term: Bullish for 2800. Again. medium-long term - Update from 2024-09-22 : Very strong breakout above, again. Market currently has no ceiling. Most likely 2800 next and I do think 3000 could be a potential target if we continue. There is certainly an argument for a measured move based on the bull rally from 2018-08 to 2020-08. current swing trade: None chart update: None
COMEX_MINI:MGC1!Long
by priceactiontds
BigAskMagnet Institute: The Case for Going Long on Gold FuturesAt BigAskMagnet Institute, we strongly advocate for a long-only approach to gold futures in the current market. Here's why: 1. Fundamental Drivers: Inflation and Currency Risks: Persistently high inflation and weakening currencies are solidifying gold’s position as a hedge. Geopolitical Uncertainty: Ongoing global tensions are fueling demand for safe-haven assets, with gold leading the charge. 2. Technical Strength: Recent price action confirms a strong bullish trend, breaking through critical resistance levels at . BigAskMagnet Institute anticipates further upside potential, with targets at . 3. Long-Only Strategy Benefits: Gold’s long-term value proposition makes short positions riskier in this environment. BigAskMagnet Institute recommends focusing solely on long entries, using pullbacks as buying opportunities. Risk Management Tip: Place stop-losses strategically below key support levels to safeguard your position while allowing for market fluctuations. Gold remains a strong performer in turbulent times, and a long-only strategy ensures traders stay aligned with the dominant trend.
COMEX:GC1!Long
by BidAskMagnet
Time to Buy More Gold Futures ContractsAt BigAskMagnet Institute, we believe the time is ripe to increase exposure to gold futures. The precious metal has been demonstrating strong bullish potential, driven by key macroeconomic factors such as rising geopolitical tensions, inflationary pressures, and dovish central bank policies. Key Points: Fundamental Factors: Gold is regaining its status as a safe-haven asset amid global uncertainty. Technical Analysis: Recent price action shows a breakout above , with the next target at . Volume confirms the bullish trend. Risk Management: Suggested stop-loss at to mitigate potential downside risks. Gold futures offer a strategic opportunity to capitalize on the current market environment. BigAskMagnet Institute is here to guide you in navigating these golden opportunities.
COMEX:GC1!Long
by BidAskMagnet
Adaptive Volume Flow Indicator (AVFI)The Adaptive Volume Flow Indicator (AVFI) is an advanced version of the traditional Volume Flow Indicator (VFI) that adapts to market conditions by using dynamic volatility and volume thresholds. It improves volume analysis by reducing false signals in low-volatility environments and adjusting sensitivity during high-volatility periods. Key features include: Dynamic volatility cutoff using ATR to adjust sensitivity based on market conditions. Adaptive volume cap that adjusts to the asset’s average volume, avoiding skewed signals. Customizable smoothing methods with options for EMA or SMA. Improved noise filtering, making it more reliable in sideways or low-volume markets. The AVFI helps identify trend strength, volume-driven price movements, and potential reversals, offering a more accurate and adaptable tool for traders.
MCX:GOLD1!
by TradeTrendsPro
GoldAs of November 7, 2024, gold prices have experienced significant volatility, influenced by various global economic and geopolitical factors. Current Price Levels: Gold is trading around $2,734.79 per ounce, slightly below its recent peak of $2,790.15 reached on October 31, 2024. (Reuters) Technical Analysis: • Support Levels: Immediate support is observed at $2,608.30, with stronger support around $2,468.20. (MarketScreener) • Resistance Levels: Key resistance is near the recent high of $2,790.15. (Reuters) • Moving Averages: Gold is trading above its 13, 48, and 200-day EMAs, indicating a sustained bullish trend. (Economies) • Relative Strength Index (RSI): The RSI is around 58.93, suggesting mild bullish momentum without being overbought. (Moneycontrol) Fundamental Factors: • Geopolitical Tensions: Ongoing conflicts in Ukraine and the Middle East have increased gold’s appeal as a safe-haven asset. (Reuters) • U.S. Federal Reserve Policy: Anticipated interest rate cuts by the Federal Reserve are expected to support higher gold prices. (Reuters) • Central Bank Demand: Robust purchases by central banks have bolstered gold demand. (JPMorgan) Outlook: Analysts predict that gold prices could rise to $2,600 or $2,700 by the end of the year, driven by geopolitical uncertainties and expected U.S. Federal Reserve rate cuts. (Reuters) Conclusion: Gold’s technical indicators and fundamental factors suggest a continued bullish trend. Investors should monitor geopolitical developments and central bank policies, as these will significantly influence gold’s trajectory in the coming months. Disclaimer: This analysis is for educational purposes only and should not be construed as financial advice. Always conduct your own research or consult with a financial advisor before making any trading or investment decisions.
MCX:GOLD1!Long
by tintinhawk
Gold Shines Amid Political and Geopolitical UncertaintiesGold trades in positive territory on Monday, supported by risks surrounding the upcoming U.S. presidential election and ongoing geopolitical tensions in the Middle East. These uncertainties enhance gold's appeal as a traditional safe-haven asset, attracting investors looking to shield their portfolios. In the short term, these factors are likely to keep gold’s price elevated. However, the upside for gold is capped by renewed demand for the U.S. dollar and rising U.S. Treasury yields, which make non-yielding assets like gold less attractive. Higher yields increase the opportunity cost of holding gold, thereby limiting its potential for significant gains. Investors are closely monitoring the presidential election on Tuesday, as well as the Federal Reserve’s upcoming rate decision on Thursday. Market expectations lean toward a moderate 25-basis-point rate cut from the Fed, reflecting caution amid electoral uncertainties. This approach could further temper gold’s gains if the dollar remains strong. In summary, while political and geopolitical risks lend support to gold, its upside is constrained by a strong dollar and rising yields, making investors cautious about heavy positioning ahead of key events this week.
COMEX:GC1!Long
by KingHamma
2024-10-29 - priceactiontds - daily update - goldGood Evening and I hope you are well. tl;dr Gold - 2800 is close, nothing is stopping this. BTFD. I expect bigger profit taking around 2800. gold comment: I gave the 2800 target a long long time ago and we are close. Only question is, where do you enter new longs? We have a decent channel upwards where the lower trend line is around 2760. Market also respected the 1h 20ema today. We have a big bull trend line from July right above us and that should be resistance until clearly broken. I can’t see this breaking above it, so I would rather buy on pullbacks and I do think there is a very good chance we will see a bigger correction once we reach 2800. current market cycle: late bull trend key levels: 2750 - 2800 bull case: Bulls want 2800, that’s it. Any pullbacks should stay inside the current channel and not go below 2760. The rally has become climactic and we can expect a pullback/correction soon. Invalidation is below 2760. bear case: Bears see the pattern which lead to around 2800 and it’s a big obvious number. Not many want to short this until market has reached it and they see more bulls taking profits. That is why we are currently in a big hurry to get to the target and bears are not fighting it. On the monthly chart this rally is beyond climactic already and I seriously don’t know if Gold ever printed bigger gains in 4 months or even 4 straight big green months at all. This price action is unsustainable and we will see a bigger correction over the next months. Invalidation is above 2810. short term: Bullish and you should not look for shorts until we have touched 2800 and bears build much greater selling pressure. medium-long term - Update from 2024-09-22: Very strong breakout above, again. Market currently has no ceiling. Most likely 2700 next and I do think 3000 could be a potential target if we continue. There is certainly an argument for a measured move based on the bull rally from 2018-08 to 2020-08. current swing trade: None trade of the day: Buying the breakout around US open above 2770, which was a textbook breakout and good for 160 ticks. Also legit was buying the 1h 20ema, which could have been more profitable but with more risk since your stop had to be wider.
COMEX_MINI:MGC1!Long
by priceactiontds
goldthesis is long, invalidated if unable to hold above pdc at 2755. AM BSL taken out already this afternoon. Gap as been filled from yesterday. 2757.6 will be the telltale if we want to continue to push towards 2760, and London BSL toward all time high. If AM BSL is unable to hold then look to short toward AM SSL AND ASIA SSL. Daily was able to defend 10/25 lows wicking up creating another doji, also an inside bar. We stay in range until we break above 2760.86 or below. The bearish marubozu on 10/23 has had us trading inside a daily bar since then.
COMEX:GC1!
by zaytoven000