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GOLD1! trade ideas

2025-01-16 - priceactiontds - daily update - goldGood Evening and I hope you are well. comment: The bull channel is clear and valid until broken. I do think a bigger pull-back is overdue but until then, bulls are in control. current market cycle: trading range key levels: 2670 - 2770 bull case: Bulls want to print above 2761 and make a new high above the December high. If they can get it, we could see more upside to 2800 since there is no more resistance afterwards. the bull channel is tight and no matter how you count it, we had at least 3 legs up and betting on a 4th is a losing strategy in most cases. Invalidation is below 2700. bear case: Bears doing not enough and if they fail at 2761, we will go 2800+ again. Not much to interpret here. We are still in a bull channel on the 1h tf and bears would need a 1h bar close below the 20ema for a start. The previous times we got above 2740, we printed huge bear reversal bars and I am hoping for another one tomorrow. Bears are also seeing this as at least 3 legs up and they want another decent pull-back for at least 50 points like the prior ones. Invalidation is above 2765. short term: Neutral. Waiting for bears to come around here at big resistance. If they fail, we see 2800 soon. No bigger interest in buying this. medium-long term - Update from 2024-01-02: If we break strongly above 2700, we will likely retest 2740-2760 and depending on that move, we will either stay inside the big range 2560 - 2760 or retest 2800 or even higher. current swing trade: None trade of the day: Buying the double bottom on the 1h tf at 2722 before EU open. Otherwise just any pullback to the 1h 20ema.
COMEX_MINI:MGC1!
by priceactiontds
GC1! - 80 days SYMMETRICAL TRIANGLE══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ Breakout Area, Target, Levels, each line drawn on this chart and any other content represent just The Art Of Charting’s personal opinion and it is posted purely for educational purposes. Therefore it must not be taken as a direct or indirect investing recommendations or advices. Entry Point, Initial Stop Loss and Targets depend on your personal and unique Trading Plan Tactics and Money Management rules, Any action taken upon these information is at your own risk. ═════════════════════════════
COMEX:GC1!Long
by TheArtOfCharting
GOLD (GC1!) ELLIOTT WAVE ANALYSIS - TRIANGLE PATTERNThe context suggests that we are inside the 4-grey wave, as the 3-grey wave ended at the high of 2,801.2. I see that the 4-gray wave is taking a long time, and is probably getting forming narrower as time goes on, as well as its subwaves have a lot of Three-waves, which directly suggests to me the idea of ​​a Triangle (3-3-3-3-3 or ABCDE). A closer look, the ((a))-navy to ((c))-navy, and the ((d))-navy wave is actually not over yet but continues to grow to go a little higher . That could indicate that the resistance levels at 2,761.3 play an important role, which is also the ideal stopping point of the ((d))-navy wave. After that, the ((e))-navy wave will move lower. furthermore.
COMEX:GC1!
by ShaneHua
1
Gold's shakeout may not be overLast week in a video I expressed my concerns that the start-of-year gains were a bit suspect. So it is interest to see that a bearish engulfing day formed around a resistance cluster including a weekly VPOC and trendline from the record high. Prices remain within a small symmetrical triangle on thew daily chart which could really break either way, but with such a strong bullish trend on the weekly, any retracement seems likely to be shallow. I also see gold hitting record highs this year. For now, the leg lower from Friday's high appears to have formed in one way within the triangle, which implies at least one leg lower within it. Bears could seek to fade into moves towards 2700 and target the HVN around 2646 or the lower trendline of the triangle. Matt Simpson, Market Analyst at City Index and Forex.com
COMEX:GC1!Short
by CityIndex
Sizing With The Precious MetalsThe precious metals complex as a whole saw strong gains across 2024 and increased volume across markets such as Gold and Silver. During the year, the Fed's interest rate policy along with inflation concerns helped bring the Gold and Silver market near their all time high levels. Toward the end of the year, the Fed decided to leave rates unchanged and the prices in the metals broadly started to come down. Looking at February Gold, although prices have come down off the highs, the market has still held out above some critical levels, and traders will need to keep an eye on inflation data and the Fed’s actions throughout 2025. The Gold market offers several different sizing options for many different types of traders, ranging from the newly released 1-oz contract to the full sized 100-oz contract. This wide variety of contracts helps give a wider range of traders the ability to trade depending on their own personal risk appetite or trading strategy. With the strong attention from traders on Gold along with a lot of political and economic uncertainty starting off the new year, it is critical for traders to understand what size contract works best for them. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/cme/ *CME Group futures are not suitable for all investors and involve the risk of loss. Copyright © 2023 CME Group Inc. **All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
COMEX:GCG2025
by CME_Group
GC LONG from 2675-2680 targeting 2700-2710Gold future contract was traded in an up trend for the past following days, after the huge correction we had from 2760 to the ~2600 level. from there - we gained momentum and buyers that took the price all the way up to 2710 again. yesterday we got a big daily correction candle that took us back to 2680. 2675-2680 is a big AOI for this asset, and I expect buyers to come in and make the price bounce around 1% back up (2700-2710), where I will want to take profit and recalculate the odds for holding it to 2750 or let go. Stop would be bellow 2670-2675, good luck BHNVN
COMEX:GC1!Long
by HagaiVinik
GOLD (GC1!) ELLIOTT WAVE ANALYSIS - TRIANGLE PATTERNCHARTS OF THE DAY ©Master of Elliott Wave: Hua (Shane) Cuong, CEWA-M (Master's Designation). The context suggests that we are inside a 4-grey wave, as the 3-grey wave ended at the high of 2,801.2. I see that the 4-grey wave is taking a long time, and is probably getting narrower as time goes on, as well as its subwaves have a lot of Three-waves, which directly suggests to me the idea of ​​a Triangle forming (3-3-3-3-3 or ABCDE). A closer look suggests that the ((a))-navy to ((d))-navy wave is probably completed, and we are inside a ((e))-navy wave. It will continue to aim for the nearest target at 2,633.8 (Wave ((e))-navy = 0.618 x wave ((c))-navy - this is a fibonacci multiple ratio of subwaves in the triangle pattern). Wave ((e))-navy will develop as a Zigzag. So, in the coming time, gold may move up with wave 5-grey, but not yet, because it needs more time to complete this Triangle pattern. While the price must always remain lower than the high of 2,734.2 to maintain the short-term bearish view with the Triangle pattern.
COMEX:GC1!
by ShaneHua
Let's go LONG this week & STRIKE GOLD for the HOUSE!!!COMEX:GC1! " A life is not important except in the impact it has on other lives." -Jackie Robinson As we head into the 2nd trading week of the New Year I hope everyone has a HIGH SET Goal that they want to achieve. Let's be strategic in our goals and make sure we put forth rightful action that will get us the results we desire. In this sport we play there is no Reward without RISK... So let's get down to business on what exactly were looking for this week to STRIKE GOLD for the HOUSE to benefit... Confluence Profile 500K (Expectational Order-Flow + PA) 15-20pt STOP / 60-100pt Target Key info; On average GOLD runs for 240pts LONG or SHORT during NY session 5am-2pm PST. Our Playbook: We cut 240 in Half = 120pts as our new GOAL to catch for the DAY (Intra Day) Pillar 1) HTF EOF "Market Direction" In which direction are we headed? Who has the stronger hand? Currently Buyers have the stronger hand on the HTF's Daily & 4Hr. We just broke above the Daily Swing EQ Level ($2696.5) and have officially entered the Daily Supply Zone ($2719.0). **** Scenario LONG #1) Now this is my Narrative to go LONG if and when price has a slight reaction out of the Supply Zone and sellers push GOLD down towards Daily Swing EQ Level ($2696.5) I will then head to the Order Flow Footprint Chart to watch very very closely if buyers start to change the expectation of orders from bear flow to bull flow from the Key Level ($2696.5). OR **** Scenario LONG #2) If sellers remain dominant and push price lower past EQ Level my next target will be 4Hr Sub. X Level ($2681.0). I will then head to the Order Flow Footprint Chart to watch very very closely if buyers start to change the expectation of orders from bear flow to bull flow from the Key Level ($2681.0). Or **** Scenario LONG #3) Sellers remain Dominant and push price past EQ level & 4Hr Sub X. Level and come to mitigate the HTF Daily Demand Zone below ($2664.0). I will then head to the Order Flow Footprint Chart to watch very very closely if buyers start to change the expectation of orders from bear flow to bull flow from the Key Level ($2664.0). Once we get our Confluence Profile 500K to flow in symmetry together; HTF Mitigation w LTF Entry Confirmation / Order Flow Footprint + PA we then will enter our positions INTRA DAY.... Key Note: LTF Pro Trend is LONG & LTF Counter Trend is SHORT.... Either way is Profit!! Done correctly at the right time & price. I will keep update as more date in the PA develops throughout the week. Remember; "Our Profession is to Manage the downside costs of printing HIGHSIDE returns of $$$ consistently. Done correctly, well Abundance awaits us." -500KTrey
COMEX_MINI:MGC1!Long
by TreyHighPwr
#202502 - priceactiontds - weekly update - gold futuresGood Evening and I hope you are well. comment: I want to be bearish with a stop 2761 but so far bears have not done enough. Market is still above the 1h 20ema and until we have consecutive closes below, I won’t take shorts. My bear trend line is good and market showed the expected reaction there but the risk of another test of 2735 is too high to take early shorts. Bulls also closed above 2710, which is pretty bullish but I would never buy so close to a big bear trend line. Downside potential is about 100 points while upside is most likely limited to 2761, so r:r is clearly on the bear side. current market cycle: trading range key levels: 2620 - 2761 bull case: Strongly bullish week and despite having many tails above the bull bars, we are only going up. Bulls want to break above the bear trend line and test 2761 again. Gold has been in a trading range 2560 - 2761 for more than 2 months and betting on a breakout is low probability. Bulls are buying this on momentum but once that is gone, they likely have to cover and try lower again. If bulls want 2800 bad, we would stay above 2700 and continue upwards. I currently see this 50/50 for both sides. Invalidation is below 2670. bear case: Bears tried on Friday but bulls got a big bullish reversal bar and closed above 2700. Best bears could do right now is to turn the market neutral around 2700 before they can try to sell this down again. Bulls are in full control and bears have not done much since beginning of 2025. First target for the bears is to stop the market from making new highs and staying below the 2024-12 high at 2761. Next target down would be 2680 and a 4h close below the 20ema, which has not happened since last Monday. Invalidation is above 2761. short term: Neutral around 2700. Bullish above 2740 for 2761 or higher and bearish only below 2650. Market most likely needs more sideways movement before we can go down. medium-long term - Update from 2024-01-02: If we break strongly above 2700, we will likely retest 2740-2760 and depending on that move, we will either stay inside the big range 2560 - 2760 or retest 2800 or even higher. current swing trade: None chart update: Nothing
COMEX_MINI:MGC1!
by priceactiontds
$GOLD & $SILVER BullishGold and silver on the monthly chart exhibited SMT and mitigation of a PDA in the discounted region, signaling a potential MMBM, which was later confirmed on the daily chart. As a result, we maintain a bullish bias for these assets, considering they may be targeting the external liquidity of the monthly chart as the final objective. However, it is worth noting that the price might correct beforehand, returning to the discount region on the daily chart to seek internal liquidity and build momentum to reach the monthly chart's final liquidity target.
COMEX:GC1!Long
by Pilucax
Gold Update: Sideways Consolidation ^ $2,800 => $2,400-$2,500Gold futures follow the path posted earlier (see related). It dropped quickly and deeply within a correction to hit the $2,542 mark. Next was a strong rebound that stalled just above $2.7k Then we saw a series of zigzags that shaped a small consolidation All of this indicates of the sideways consolidation pattern which implies the box type flat correction with top and bottom of the range defined by all-time high ($2,802) and the valley at $2,542. The height of the range is around 300 bucks. Next step for the price to retest or only touch the all-time high, further we might face another drop to retest the valley of $2,542 or even lower to touch the bottom of the bullish channel. Another downside target is at 38.2% Fib at $2,400. After that, the consolidation could be over and the bullish trend to resume with new impulse.
COMEX:GC1!
by aibek