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GOLDM1! trade ideas

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
The 3 Reasons To BUY GoldNow lets look at the gold price... The sentiment on Gold is very bearish but despite that There is a lot of accumulation happening in the futures markets This could be that investors are expecting rapid high inflation Because of the drop interest rates.This could make banks print more US Dollars to inflate there economies This inflation will give power to the dollar but unfortunately the buying power of the poor and middle class will be affected. Gold is very good for preserving your buying power in an economy that is heavily dependent on currencies, 3 Reasons To Buy Gold COMEX:GC1! : -It will store your value -It will protect you against inflation -It will store your buying power The Central Bank of Canada last week cut its interest rates to more than 50 Basis points If this is not a sign of inflation or a recession then I dont know what is. Rocket Boost This content to learn more. Disclaimer: Trading is risky please learn risk management and profit taking strategies. Because you will lose money wether you like it or not
COMEX:GC1!Long
by lubosi
Micro Gold Futures - Long 4H, Previous Price Action MirroringTrade Setup: Continuation to a range fill Entry Setup: Previous low breakout OR flip depends on how steep the bottom wick is of next 1H is. Entry Price: not filled yet SL: 2728 (bellow previous 4H low) TP: 2746 (next major support level, there is an option to take profit on daily flip 2748.9) SL TO B/E: Moving SL to breakeven when price will tap 2744 as it is a minor support. I think that there is a high chance that price will tap 2746 level before making any other move: 1.We are mirroring the move from 22 October. 2.Daily candle does not have top wick. 3.Even if price continue down bellow 2729 level, i think we need to tap 2746 as a liquidity grab before heading further down. Did not entered yet, Waiting for next 1H to provide a entry setup.
COMEX_MINI:MGC1!Long
by GamblingTux
MGC1! Short Setup - Micro Gold Futures Short (Short Term Trade)Trade Setup: Continuation to a range fill Entry Setup: Previous low breakout OR flip depends on how steep the top wick is. Entry Price: not filled yet SL: 2757.2 (previous 4H high) TP: 2729.2 (next major support level) SL TO B/E: Moving SL to breakeven when price will tap 2734 as it is a minor support. Look like price is going to mirror the move from 21 October. Just got 4H Closure bearish after rejected from 2752-2757 level. Last time price was rejected there he tapped 2729.2. We finished high impact news for today. I`m waiting for next 1H open to create top wick tap 2745-2746 then ill take the flip or the previous 1H lows breakout as a sell stop. Did not submitted trade yet, waiting for next 1H open to provide the entry setup.
COMEX_MINI:MGC1!Short
by GamblingTux