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GOLDM1! trade ideas

From the Gold Rush to the 10% Golden Crash next?A few weeks ago, I mentioned that the gold rally had come to an end. At the time, the price was at $1,970, and I expected the price to crash for the rest of the year. Well, the crash came much sooner than even I expected. Just last week, gold prices sank another 4%. And to put this into perspective. We have not seen this kind of gold crash performance since June 2021. In fact, on 25 September, the gold price dropped from $1,970 per ounce down to a low of $1,829. If you missed the first down leg of gold, you’re not going to want to miss the next one. Here’s why I expect the price to continue down. Why the JOLTS report is great for America but bad for gold Let’s start with what the JOLTS report is. The Job Openings and Labor Turnover Survey (JOLTS) report is a monthly publication by the U.S. Bureau of Labor Statistics (BLS). It tells us important information about the U.S. labour market. The report is typically released a few weeks after the closely watched m (Nonfarm Payrolls) and offers a different perspective on the job market. August data of the US JOLTS Jobs Openings was recently released. And it crushed analysts’ expectations. It showed the job openings improved to 9.61 million in August from the previous reading of 8.92 million. When the report came out, the gold price dropped even further. We need to remember…. The JOLTS report of 9.61 million in August suggests a strong labour market and a boost in economic optimism. In a growing economy, we’ll see investors will look to riskier assets like stocks over safe-haven assets like gold. And so, this led to a decrease in gold demand and a drop in its price. Another interest rate hike is on the cards Several Fed officials have suggested that America can expect at least one more 25 basis points rate hike by the end of the year. This will be to try to bring inflation back to the 2% target. Also, with the higher jobs openings and a stronger economy – this has put the US wage inflation and higher interest rates back on the agenda. Here is what Jim Wyckoff, senior analyst at Kitco Metals, said in a Reuters note. “There is a reckoning that interest rates are going to be higher for much longer, which has been the bearish element in the precious market. Gold prices could go below $1,800 in the near-term,” I don’t normally agree with the news and hype. But the charts agree with the downside to come. Why this massive inverse Cup and Handle is showing 10% for gold You can see since April 2023, it’s been moving in a bearish (down) pattern known as an Inverse Cup and Handle. Three parts make this Inverse C&H pattern including a. Cup (big rounding top), Handle (small rounding top) and a Brim level (horizontal support). Now that the price has broken below the brim level, means we should expect the price to continue down. The first target I have for gold is to the next strong support (floor level) at $1,710. This was the level that was tested in January, and it looks like the price will go back to that testing level again.
COMEX:GC1!Short
by Timonrosso
War news pushes gold up 1%war new pushed gold futures up 1% pre market, vix was up almost 10% at one point we retraced down to the .50 fib level, which was 1836. Now, going back up we can test the 1882 .618 fib level. This war has been going on for decades and was temporary to the markets, as spy has almost fully recovered now. The ongoing conflict in middle east should keep gold, oil and nat gas in bullish trend. There are FOMC speakers this week as well, which will affect interest rates and DXY. Cheers!
COMEX:GC1!Long
by hockeysniper
5 Steps:An Open Letter To Gold Investors#1-Confessiions Of A Gold Trader Gold is a precious metal valued all around the world today , in the past and in the future. #2-Discover The Amazing Secret To Gold Secret to gold is to always buy it at a discounted price. #3-Do You Honestly Want Gold? You want to have gold in your portfolio to protect you against the inflation that is created by your local central bankers. #4-Do You Make These Mistakes In Gold Trading? The biggest mistake in buying gold is thinking it will crash and so you decide to use marginal trading to profit from it. This is okay unless you know what you are doing. #5-The Secret Of Gold Gold is has a future yield curve going to up as far as 2027 /If you scroll down to your left panel of the COMEX:GC1! futures contract you will see the future yield curve and this should give you confidence to buy it. 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
Dead Cat Bounce with Gold before the next crash to $1,710Bear market rally is forming with Gold. We are seeing a somewhat recovery. But the overall medium term trend is down. And we need to act accordingly to the major trends. This is a normal Dead Cat Bounce. And the ONLY way it will prove me wrong, is if it breaks out of the downtrend which will start a new uptrend. So what could cause this uptrend? 1. Safe haven status becomes strong with gold again. 2. Israel and Palestine war over commercialises the public and people start taking their money out of stocks and risky assets and into Gold. 3. World stock markets crash and people can't help but invest in gold... But right now, the trend is DOWN. So we'll stick with this trend and look for shorts only.
COMEX:GC1!Short
by Timonrosso
GOLD - Positive real rates is negative for GoldThe attractiveness of Gold is tarnished When cash instruments yield a positive rate of return More and more people are getting on board of higher interest rates (Dimon, Santelli) But u can see the Gold price has been inversely correlating with the rate of return for decades. It's bull run in the 2000's along with the commodity bull , coincided with real rates trending to less than zero. Gold Topped a few months prior to that negative reading in 2012! The current triple top that has been in place for he past 3 years , seems to be in danger of breaking down if rates continue up the next few years. The key level to watch is last year's lows in October around $1611 Which I believe is a distinct reality if rates head up to 7%
COMEX:GC1!
by BallaJi
Gold will lose its value one day?What do you think about it? can this growth ever fall? And what will replace gold? My answer is yes gold can lose value, and its price can drop rapidly. Gold is a commodity that has a value based on market supply and demand. There are several factors that can affect the price of gold: Economic factors: Economic conditions, inflation, interest rates and monetary policy can affect the price of gold. If the economy improves and investors have higher confidence in other assets, they may turn to them and reduce demand for gold, which can lower its price. Global Geopolitical Events: Tensions between countries, political conflicts or economic crises can impact the demand for gold. If the situation improves, gold may not be as attractive to investors and its price may fall. Level of confidence: Gold is often seen as a safe store of value in times of uncertainty. However, if confidence in other safe assets, such as government bonds or other commodities, increases, demand for gold may decrease and affect its price.
COMEX:GC1!Short
by Bitcoinblockchainonline
Gold likely going lower until rate cuts in 2024#GOLD sell we posted (trading portion) was SPOT ON (tee hee) Barring something out of ordinary AMEX:GLD is most likely not going bull, at least, until 2024. There's also possibility it could also consolidate for few years but that's a story for another day. The precious metal is likely headed towards 1800 area. The last chart shows all major support levels by the dashed green line. We will wait for reversals @ support levels.
COMEX:GC1!
by ROYAL_OAK_INC
GOLD FUTURES, Important FORMATION, Accelerate MASSIVE Breakout!Hello There! Welcome to my new analysis of the GOLD FUTURES. The massive inflation, recession, and supply-chain disruption events that emerged in the past times have increased the investor's fearfulness and accelerated the investor sentiment in regard to a favoring of safe haven investments to hedge against the massive inflation, recession, and supply-chain disruptions events. GOLD has been not only around for several thousands of years and already survived the great depression, the dot-com bubble, and the financial crisis but it has also become more and more popular in terms of an exchange value in a new gold-backed currency system implementation. The signs in the GOLD FUTURES price-action that I have spotted within recent times also point to a major interesting underlying dynamic as the GOLD price-action already had the ability to bounce within the 1620 and 1690 structure supports already forming an important bullish price spike towards the all-time-high direction this is forming a structure from where the GOLD price is now also building a substantial base above the 1920 area. These major open interest developments have created an ABC pattern with A being the pole and now with B forming this is forming the base from where a massive all-time-high breakout has a tremendous possibility to emerge. Furthermore, from the daily timeframe perspective, GOLD FUTURES are forming this substantial descending triangle formation that is likely to be completed with a final breakout above the upper boundary and from there on mark initial targets of 1240.5. From a weekly timeframe perspective, this will also complete the major GOLD base breakout from where GOLD is going to emerge with the wave C extension and activate a minimum target of 2500. In the next times, these are important levels to watch out and especially the final validations are going to have an enormously important effect on the actual price-action determinations to consider for the upcoming times. Remember, that the current dynamics are backed by investors who are looking to hedge against major inflation, recession, and supply-chain disruption events, and in this case an appropriate additional acceleration of the price-action moving at a faster pace will be realized with the necessary gold-backed currency system implementation. Thank you everybody for watching my idea about GOLD. Support from your side is greatly appreciated. VP
COMEX:GC1!
by VincePrince
17
ES and goldOctober 2nd 2003 2:30 am This was a tough video for me because I know my choice of words aren't necessarily clear as I try to look at the price dynamics of these markets. If I weren't showing my charts or working with other people it wouldn't matter so much to me because I know in my mind where the buyers are and the sellers.... and if the market moves in a certain direction I know if the market's moving higher or lower.... which seems Like a no-brainer statement because you would think if the market's going higher.... well it's going higher. But it's more complicated than that which is why you need to be able to make decisions about how much higher it will go.... and that's the battle... and it's the same battle when you try to decide when a market's going lower how much lower can it go. Sometimes the market gives you perfect clues... and it's not just what it does, It is also about what it doesn't do that is your clue. And sometimes it happens in a split second...You see it and if you don't recognize what it is you will miss it and you might not be able to take the trade or you might have to wait till the market does some kind of a retest and then maybe you can get in a little bit later. In any case we took a look at the es and the gold. The same thing is going on with silver but I didn't have a chance to talk about it. The one thing I did not say in the video is that extensions show you a high probability reversal but they don't tell you any more than that. An ABCD Tool can show you a reversal and a target....a target that can be a reversal.... there is a difference. didn't talk about it on this video. I have talked about it a number of times on previous videos... and I will talk about it on future videos if I am confusing you.
COMEX:GC1!
by ScottBogatin