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GOLD1! trade ideas

Gold (GC1! Futures) Intraday LONGThis is a follow on from my analysis earlier today: The the estimated daily target at the first minor zone has been hit on Sunday open. The fact that the move was bought up so aggressively indicates that our next shorting location is higher up. I am currently long from S1. I will update again in the morning, but it is highly likely we will develop a trending day on the Market Profile, but again, I will provide an update in the morning.
COMEX:GC1!Long
by Aaron_K_Trading
Gold (GC11 Futures) Mid Term Analysis - SHORTLast week saw a lot of emotional buying of the market. While some short positions were not viable later in the week, there has now been a clear rejection from: 1) The higher zone mentioned prior: 2) The previous long term weekly H&S pattern mentioned back in August: In terms of current price action, it seems that an inverse H&S pattern is forming on the daily. We can also see that in terms of the RSI - with tweaked values more suited for long term analysis - that the price is EXTREMELY overbought. Note on the chart that historically - when using my specific settings - that there is a high probability for a reversal. In terms of the DXY, TECHNICALLY it is still BULLISH on the daily, and has been simply consolidating for the past few days. Please note this infographic: The probability for a move down for Gold seems more likely. There are two scenarios: 1) A retrace to the first minor zone around 1973.5 - 1967, based on the Fibonacci retracement of the recent daily impulsive move. The bottom point starting from the low of Monday 16th, and the high point being Friday 20th. 2) A retrace to the purple zone, starting at 1940.5, extending down to 1921. This is based on the Fibonacci retracement of the recent weekly wave up: . Scenario 2 seems more like of the two, as it would be a logical place for the final shoulder to form in line with this analysis. There are a variety of ways to approach an entry for this week: 1) Buy PUT options around this price. If you do not have access to this functionality because you are trading CFD's, look into using the broker "Avatrade". They feature short term options spanning a few days, and while they are as powerful as traditional options, it can shield you from some of the short term volatility. 2) Look for a breakout sell below the low of Fridays candle, that being 1983.7 on the Futures. 3) Look for to short the 0.618 retracement of Fridays candle. 4) Look to short near the top of Fridays wick, essentially forming a double top. 5) Wait for a confirmed flip of the 21 / 55 EMA's, and look for a short around a relevant pivot. I will be opting for approach 1, as well as approach 3. Manage your risk accordingly. Just as a final note: Please note, there will be times where losses will be taken, but if you are entering around historical areas of support / resistance, they will be extremely negligible compared to your overall profits. Aim for points, not pips. Also please keep in mind, it is good practice to take profit as a position runs. Taking some profit out after 5 to 10 points is not a bad thing. I hope this analysis will help you for the week ahead. I will be posting more closer to time analysis throughout the week. The majority of my time will be spent either here OR in private chat, so if you have any questions, feel free to ask! Good luck! Disclaimer: This is not financial advice.
COMEX:GC1!Short
by Aaron_K_Trading
Gold is building it's topFollowing a substantial rally that yielded approximately $200 in gains over the course of two weeks, gold is now exhibiting initial indications of a potential formation at its peak. It is noteworthy that the cumulative delta demonstrates a bearish divergence in comparison to prior rally instances. For those considering short positions, it is advisable to establish tightly positioned stop-loss orders while pursuing favorable Risk-Reward Ratios (RRRs). This particular short trade opportunity presents a Risk-Reward Ratio exceeding 4.5:1, emphasizing a potentially advantageous position for traders.
COMEX:GC1!Short
by Ochlokrat
Gold in a RetracementGold bulls will get their chance to prove whether or not we bull, not above 2,000 but in the 1893-1937 level in futures. Why? Bull markets are made in the holding the retracement. We did break the Daily short, exceeding the 61.8% line of the Daily Short. Usually, when that happens, it's profit taking that will bring the market back. Doesn't mean we can't break into new highs, just much tougher. Friday was a good example of it, with an aggressive downside after we hit highs. I will be looking for intraday short setups and for daily price action to bring us back 50-70 bucks in gold.
COMEX:GC1!Short
by CeresTrader
Gold (GC1! Futures) Identifying next SHORT zoneAs of today, GC1 has now broken above the current zone, and has closed on a higher timeframe. In accordance with prior breaks, we now look for a retest of the broken zone at the 0.5 FIB of todays daily candle: The next target is either: 1) The next zone up OR 2) The prior neck line of the long term H&S identified in August. Keep in mind, despite this short term bullish price action, the trend for Gold is still BEARISH, hence why we continue to long for short opportunities at each historical zone. Just to be clear : My trading is based off of many factors, but an important factor is the many historical monthly zones plotted on the chart. While there will be times where the zones are broken against our favour, the OVERWHELMING MAJORITY of the time, these zones will hold. As highlighted on the chart, these are all examples of where adhering to these zones would have netted 50 - 100 points moves. Points, not pips. I will be posting more real time updates though the day of 20/10/23. Stay safe and manage your risk accordingly!
COMEX:GC1!
by Aaron_K_Trading
1
The Gold Odyssey - Breaking out of top consolidation finallyIF you had been following the series of The Gold Odyssey, you would know how well the probabilities are in the analyses. To the point, Gold is ready to break its almost three year consolidation (huge) range. 1. You can see the powerful reversal off the mid-range support; 2. The candles show and project good momentum to follow through; 3. A trend line breakout already just happened with the week not closed yet; and 4. MACD and VolDiv are only starting to align for a good bullish breakout. Incoming!!!!
COMEX:GC1!Long
by Auguraltrader
Gold (GC1! Futures) Mid Term UpdateFollowing on from my analysis from yesterday, towards the end of yesterday's trading session, Gold printed a very strong hanging man candle. Traditionally, when this candle is printed near the top of a rally, it signifies a substantial move down. Also keep in mind, data releases so far for this week have been good for the dollar, and let us also remember that while the war on Palestine is very sad, the market is over the war shock now. We were always in an overall bearish trend, so now I expect gold to continue its move down. Infact, in reference to my prior weekly analysis, which places the long term target at 1745 - future price - we can now expect the long term scenario to start playing out. I will be updating this post through the day. I have already gone short with a SL above the current daily high. If I see another good shorting location in the day, I will post it here as a comment. Please be aware, this is not financial advice.
COMEX:GC1!Short
by Aaron_K_Trading
4
GOLD (GC1! Futures) Mid Term UpdateFollowing on from my previous analysis, GOLD has made a sustained move upwards from the lower PURPLE zone, hitting both the 0.5 FIB and the GOLDEN ZONE respectively: At the time of writing this, price has now settled at the top of the current PURPLE zone, and has stalled at a daily trendline starting from the 20th July. There have already been three major rejections, with price action now essentially testing the trend for the fourth time. The the pre-war gap is also waiting to be filled. A move down from this area would form an inverse head & shoulders pattern on the daily, which would signal a real reversal from the trend established a few weeks ago on the weekly. Just as a refresher, until a trend reversal has been FIRMLY confirmed on both the daily & weekly timeframes, the long term target of the original H&S pattern still stands. That would be around 1745 on the futures chart: As we all know, Gold is a safe haven asset, so it makes sense that it has seen some strength over the coming days, however, it is important to remember that while war is a sad thing, the market will not be spooked by it forever. As we saw with the Ukraine war, once boundaries have been established from either side, you can expect to see a return to the norm for golds normal fundamental plays. There are now two possible scenarios to consider: 1) A break above the aforementioned trend line, with a retest of the PURPLE zone leading Gold to move up higher. The first initial target would be the minor zone at 1966. A break above leading to the higher minor zone, that being 2010. OR 2) Sunday nights open leads to a short consolidation, leading a sharp drop of gold over the following days. Keep in mind, while price action has been bullish in the short term, on the daily and weekly timeframes, the trend is still BEARISH. I will be posting more closer to time analysis throughout the week - based on the 30 min chart - so keep an eye out. Please keep in mind, this style of trading is based on confirmations. This is not scalping, or "quick money". This is not financial advice, so please, manage your risk accordingly.
COMEX:GC1!
by Aaron_K_Trading
1
Better revenge with goldThis past Monday, we opened a short position in the December micro gold futures contract. We were counting on a customary seasonal decline this time of year to put a damper on gold's news-driven rebound. As can be seen, that turns out not to have worked so well; the trade has hit our daily mental stop and, unless there is a significant retreat this afternoon, we'll probably cover shortly before the close to limit the loss. A situation like this is a sore temptation to take a 'revenge' trade by adding to the short position instead of covering. Revenge trading is never a good idea, as it can cause losses to spiral out of control. There is, however, a similar trade that could be very profitable. Note that the fairly reliable Williams %R oscillator is up in overbought territory. The vengeful could (after cutting the current loss) open a high-probability position by waiting for RSI to move up past 70 and then opening a small short position, perhaps scaling in as long as both indicators are in overbought territory, and taking profits when a decline in gold's price moves W%R back down to an oversold reading. Always watch your charts and manage your risk.
COMEX_MINI:MGC1!Short
by SwingWaiter
5 Steps:Are You Ready To Buy Gold Futures?#1-The Gold Futures Way To Profit -Gold futures are a very good indicator for buying during a financial crisis. #2-The Secret Of Gold Futures -Gold futures hold their value for you to trade gold stocks with no margin. #3-The Man With Fed Rate -When you watch this video inside you will see how the gold price is related to the fed's rate hike. #4-The Lazy Man's Way To Trade Gold Futures -Whenever the fed FRED:FEDFUNDS pauses its rates you will see a change in the gold price #5-The Amazing Secret Of How You Can Trade Gold Futures With No Fed Rate Hike -Once this rate hike is paused it signals a good indicator to buy gold- you need to watch this video again to learn more Disclaimer:This is not financial advice do your own research before you trade. Rocket boost this content to learn more
COMEX:GC1!Long
by lubosi
GOLD (GC1 Futures) Mid Term UpdateAs a refresher, in the previous weeks, I posted a mid term chart for GOLD - based on the Futures charts - which suggested a move down to a previous support area (around 1745 LONGTERM). That chart can be found here: GOLD has now moved around 100 points from the suggested entry point. The sell off in recent days has been very intense; this is due to the relentless strength of the US dollar, supported by reasonably bullish data releases which support the FED's "higher for longer interest rates" narrative. There may have been a turning point yesterday. NFP released, showing a HUGE gain of over 300K jobs, massively exceeding the expected 170K job forecast, however, the picture is not so rosy. On closer inspection, full time jobs were lost, part time jobs were gained and more people seem to be taking on 2nd and 3rd jobs to meet ends meet. A big NFP number is only as strong as the quality of the data. This may explain why earnings (month on month) were down, but nonetheless, GOLD has surged on this data release as it appears market participants are starting to see the cracks in he US economy. I am expecting a retracement to either: 1) The RED BOX ZONE: This coincides with the 0.5 FIB of the recent daily wave down. OR 2) The EXTENDED GOLDEN ZONE: This coincides the zone between the 0.618 and 0.71 FIB levels. This would also serve as a retest of the daily "M" pattern that was formed. While the pattern became over extended in recent days, it is still possible for the neckline to be revisited. In terms of order execution, you can: 1) Wait for a retest of the GOLDEN ZONE of the 06/10 Daily candle. 2) Place a BREAKOUT LONG above the current PURPLE ZONE, with a SL below either the midpoint of the zone OR below the zone (providing you adjust your lot size accordingly) 3) Enter call positions around this area as it will be relatively low risk. Please remember, this is not financial advice and is purely my personal opinion.
COMEX:GC1!Long
by Aaron_K_Trading
Gold futures eyes $2,577 in acceleration of upside impulseA pullback in yellow wave (2) almost hit 61.8% of yellow wave (1). Now we see the strong minor impulse to the upside. It can be a part of large yellow wave (3). The target is projected at the distance of 1.618x of wave (1) with aim at $2,577. Watch how price breaks above the top of wave (1) beyond $2,086 Risk/reward is 1:2.5, one could get it better if goes on a lower time frame and buys on minor pullback following minor wave 1 of (3). Do you see gold futures touching $2,577?
COMEX:GC1!Long
by aibek