Gold bubble seems to burst in the coming days!Get intraday and holding investment recommendations for both gold and silver. Include both Indian and international market rates.
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GOLDPETAL1! trade ideas
Triangle sideways pattern in the fourth waveGreetings,
Dear friends, I hope you are well and have had a week filled with successful and profitable transactions.
My analysis of the Gold market: It is very clear that we are in the third wave, and with a little precision, I mean the first wave and the third wave, and with the extension of the Fibonacci expansion. The fourth wave is only due to the movement of the wave to the side, from my point of view, the running triangle pattern can be very likely until this analysis is invalidated, and after its completion, the price action will be witnessed with strength and an extension of the impulse pattern.
Note: I am a new analyst in the world of wave principles with three years of experience, and I am developing an analytical idea. There is no 100% certainty in financial markets due to the complexity of various patterns that can change. However, I do my best to back up any analysis I share with you guys with everything I've learned so far.
A brief explanation of the three fundamental laws of the wave principle:
1. The second wave should never go beyond the beginning of the first wave.
2. The third wave should never be the shortest wave between waves 1, 3, and 5.
3. The fourth wave must never enter the territory of the first wave.
Ralph Nelson Elliott was the founder of this theory, and when asked about his view of the market, he always referred to five waves in the direction of a larger trend and three waves against the direction it was taking. After completing an eight-wave cycle, a larger cycle is formed in the future. It's as simple as that.
May his memory be cherished, and may his soul rest in the shelter of God Almighty and the eternal world.
I am attaching the analysis of this market that I shared with you earlier to this current analysis.
The last word of my analysis text is repetitive, except for the explanation of the current analysis, because I also trade in the financial markets and am active in my social networks, working hard to improve my skills in analysis and trading to reach my goal.
I apologize for repeating the text.
I welcome suggestions and criticisms, and I will certainly respond, but a logical reason is important to me.
Thank you for taking the time to review my analysis, and thank you all.
To all my dear friends and colleagues, first of all, I wish you health and success in your goals.
Mehdi Abbasi with the nickname (Mr. Nobody)
Looking for shorts in Gold.If the market breaks this support,all my conditions for a short trade would be set and it would be a RR 1:1
Gold trading - short or none trade. Sallers dominance Futures contracts for gold are under selling pressure. Analyzing the cumulative volume with Wyckoff Wave, it is evident that the selling pressure is strong enough for gold to reach the last support level. In my opinion, it's either a Short position or no trades at all.
ChatGPT
Wyckoff Wave Volume (Cumulative Volume): Cumulative volume analysis is a market analysis method proposed by Richard D. Wyckoff. It involves tracking the total trading volume over a specific time period and interpreting whether the volume is increasing (indicating strength of trend) or decreasing (indicating weakening of trend).
Selling Pressure on the Gold Market: You argue that the Wyckoff Wave cumulative volume indicates strong selling pressure in the gold market. This suggests a high volume of selling transactions, which may imply a downward trend in gold prices.
Support Level: You suggest that volume analysis indicates gold could fall to the last support level. Support levels are historically price points that attract buying interest and can halt price declines, unless breached.
Your Market Approach: Your conclusion is that due to strong selling pressure, one should consider a short position on gold or refrain from trading altogether to avoid risk.
For more details visit volumedaytrader.com
Short GC @ 2249 on AbsorptionGC is in a converging triangle here and I think after the large selloff from Friday has more room to the downside before finding a bottom. There is a lot of resting liquidity at 2349 plus the psychological level of 2350.
I am thinking that GC rallies up to this area before being shorted back down again and finding a new bottom. Stop loss at 2353 and take profit at 2341 for a 2:1 RR.
Long in GOLDAfeter a big fall last week the market consolidated and now gives me all my conditions for a long position after it cross the last high
GOLD COMEX - Intraday Levels - 24th June 2024if Sustain above 2340.8 then 2349.1 to 2352.2 above this bullish then 2358.3 to 2360.5 then 2369 to 2370.3 tabove this more bullish
if Sustain Below 2331.3 then 2325.8 below this bearish then 2312.3 or 2311.0 Strong level then 2303.7 to 2299.8 below this more bearish then 2295.4 to then 2287.5 to 2285.3 then 2283.1 then 2279.3 then 2275.5 to 2272.9
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk.
Thank you.
6/23 | $GCPretty clean consolidation pattern here every since making a new ATH. Looking for price to retrace into my 3H demand zone (Green box) to buy around $2300.
Something slight check out some of my ideas. also I don't take every trade idea that you see here
these are assumptions before price action completes and confirms. The point of my ideas is try to predict price action everyone knows that's next to impossible but I'm having fun.
I am not a professional trader nor am I technical . all ideas are based on what I understand price to be. when I see certain confluences that fits my trading strategy I then look for my opportunity to enter trades.
to many egos here. we are all independent traders navigating the market. happy trading
GC1: Sell ideaSell idea on GC1 as you see on the chart after the breakout with force the vwap and the support line by a big red candle follow by a large red volume.
GC Gold longtesting my alogo signal for Gold. This Double Top makes me cautious of a BUY. Also the algo has won the last 10 trades and usually has 8 trade win before a loss. Either way Ill take the signal. This signal was on a 5m chart but TV wont let me post the low TF idea.
Commodities comparisonHere's a 1-day chart, Q2 2024 view, commodities comparison with the tickerTracker MFI oscillator set to RSI length 7:
Gold GC1! - bright orange
Copper HG1! - dull orange
Silver SI1! - light gray
Palladium PA1! - darker gray
Platinum PL1! - white gray
Corn ZC1! - yellow
Soybean ZS1! - green
Lumber LBR1! - brown
Wheat ZW1! - brown yellow
Oil CL1! - black blue
Gas NG1! - white
China Halt Buying Gold - Time to sell? But when to buy again?Is there still demand for gold by central banks around the world, and is gold heading for a correction?
We will look into some data on the central banks' interest in this precious metal and discuss how to trade gold during this period.
Micro Gold Futures & Options
Ticker: MGC
Minimum fluctuation:
0.10 per troy ounce = $1.00
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
Can the HOUSE CAPITALIZE LONG above 4Hr Swing EQ Level...?COMEX:GC1!
"I hated every minute of Training, But I said, 'DONT QUIT'! Suffer now and live the rest of your life as a CHAMPION." -Muhammad ALI
This is a simple TXT-Book break N re-test PLAY LONG above 4Hr Swing EQ and targeting the next Minor S&R Level ($2376.0)....
I want to see price break the 1Hr Supply Zone and above the 4Hr Swing EQ Level ($2355.0). I want to see 30m Candle closures above EQ/1Hr Supply & above the Liquidity Trendline, to clarify strong conviction from buyers to go LONG!!!
Remember when it comes to FRM (Financial Risk Management) our job is to manage the downside costs of printing High side returns of $$$ consistently... Let's Step!!
Stay Focused & Reach Excellence!!
#BHM500K #NewERA #Champions
Can the HOUSE CAPITALIZE LONG above 4Hr Swing EQ Level...?COMEX:GC1!
"I hated every minute of Training, But I said, 'DONT QUIT'! Suffer now and live the rest of your life as a CHAMPION." -Muhammad ALI
This is a simple TXT-Book break N re-test PLAY LONG above 4Hr Swing EQ and targeting the next Minor S&R Level ($2376.0)....
I want to see price break the 1Hr Supply Zone and above the 4Hr Swing EQ Level ($2355.0). I want to see 30m Candle closures above EQ/1Hr Supply & above the Liquidity Trendline, to clarify strong conviction from buyers to go LONG!!!
Remember when it comes to FRM (Financial Risk Management) our job is to manage the downside costs of printing High side returns of $$$ consistently... Let's Step!!
Stay Focused & Reach Excellence!!
#BHM500K #NewERA #Champions
REFINED ANALYSIS ON XAUUSD (GOLD)In response to the unemployment claims, a significant market movement ensued, Will be
causing a deep sweep through the $2300 level, reaching into the lower 50s(2350). This pronounced shift reflects the market's reaction to the economic data, with considerable activity observed as prices adjusted sharply in the wake of the news.
As the DXY (U.S. Dollar Index) is projected to inclines, the market anticipates a corresponding shift in currency valuations and economic outlooks globally. This projected incline suggests potential adjustments in trading strategies and market behaviors in response to the anticipated depreciation. follow for nore insights
gc1!(gold futures)-4Haccording to the trend analysis,it seems that gold wants to form new LLs and new HHs in midterm.
if we see a good sell setup we can entry.
this is my idea about gold.
it's not a financial advice...
GOLD MCXGold made cup and handle pattern in weekly and given a good breakout and now retest is happening .
Gold Building A Top? Potential Downside Price ObjectivesConclusion: In early 2024 gold reached the price objective derived from the breakout of the large triangle that had evolved beginning in early 2022. Upon reaching the area of the objective, a classic buying climax halted the trend. The subsequent trading range has been characterized by distribution. In the event of a breakout lower, the amount of distribution (cause) derived from the point and figure count suggests that a downside objective of 10-12% lower is reasonable.
In this piece we make a technical assessment of the daily and weekly charts, provide evidence suggesting that the range is likely distribution (Wyckoff)
In November 2023 gold broke above lateral resistance that had developed along the 2079-2085 area.
• The lateral resistance and the rising support generated by the trendline (A) defined a large triangle.
Importantly the original breakout from the 2079- 2085 triangle generated a price objective of 2540.
• That objective is derived: 2079 (initial point of the triangle ) - 1618 (bottom of the pattern) = 461 points.
• 461 points added to the triangle top (2079 + 461) = 2540 objective.
In my view, triangle price objectives are AREAS to monitor for resistance rather than discrete points.
In March the market rallied to 2454.
• The combination of overbought in the channels, and the 1.382% Fibonacci objective (a bit short of the 1.618% objective), and the area of the triangle objective, clearly defined an area of the chart where supply was likely to develop.
Despite the backdrop of very bullish news and strongly bullish sentiment, a classic buying climax developed (BC). Over the next three weeks the market pulled back to 2285, then rallied in a secondary test (ST).
Gold Daily:
Without going into a detailed Wyckoff price/volume analysis I will make the case that it is likely that the range is one of distribution. Note the appearance of supply (inside the oval) just prior to the buying climax at 2449, the lower volume and angle of attack on the rally to 2454 (secondary test), and the expansion of volume and close near the low of the price spread (last arrow). Rallies inside the range are being aggressively sold as strong hands distribute to weak hands. Additionally, much of the price action has developed below the midpoint of the range.
Trading ranges represent areas of the chart where large numbers of shares change hands, often moving from strong hands to weak hands. This is why there is a consistent relationship between the length of a trading range and the size of the subsequent move. This is particularly true in very liquid, heavily traded markets.
Assuming the current range DOES NOT EXTEND and I am correct in my assessment of distribution, the point and figure count projects enough cause to suggest downside of 2010 - 2030. If the range extends, the count will lengthen and the price objective grows greater.
With this view, I Should be able to fashion a trade well in excess of 3-1 (minimum) risk reward. I suspect that when a trade does set up, that risk reward will be in excess of 10-1 as a stop versus my entry is likely to be less than 1%.
Generally speaking, there are only two outcomes to the range, either the buying climax is short term and the market will, after a period of re-accumulation, move higher or the buying climax will offer a significant top leading to a significant markdown once supply is completely distributed to weak hands.
And finally, many of the topics and techniques discussed in this post are part of the CMT Associations Chartered Market Technician’s curriculum.
Good Trading:
Stewart Taylor, CMT
Chartered Market Technician
Shared content and posted charts are intended to be used for informational and educational purposes only. The CMT Association does not offer, and this information shall not be understood or construed as, financial advice or investment recommendations. The information provided is not a substitute for advice from an investment professional. The CMT Association does not accept liability for any financial loss or damage our audience may incur.
SHORT TRADE GCI am waiting for Gold to reach 2332-2334 area to short again, targeting 2318-2316 area.
we got 2x-3x multiplier in this trade for loss/win rate, were we risk 5-6 points to gain 10-15 points!
The 3 Reasons Why Gold Is A Good Buy🔒Gold is at a all-time low right now, and this is a good time to buy it while its still cheap...if you look at silver as well you will find that silver is outperforming Gold and is very fast at moving up in the reverse direction compared to gold.💰📈
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#2-Gold stores your purchasing power
#3-Gold stores your wealth long term
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Daily Market Watch: GOLD is BEARISH!The bearish bias going into this week was correct.
The market printed a bearish candle for the day, on the way to completing an IRL to ERL
movement.
I'm holding the same bias for tomorrow, as we near the first SSL target at the most recent swing low.
BOOST and subscribe if you like the analysis.
Thank you.
May profits be upon you.
Gold COMEX Future - Intraday Levels - 17th June 2024if Sustain above 2351.6 or 2352.3 then 2354.4 then 2356.5 or 2361.4 above this bullish then 2372.6 then 2379.6 then 2396.9 to then 2412 to 2413.7 or 2417.1 to 2417.9 above this more bullish
if Sustain Below 2344.7 then 2339.7 to 2335.5 or 2333.5 below this bearish then 2326.5 to 2324.6 then 2319.6 to 2318 below this more bearish then 2297.1 to 2295.1 then 2290.9 to 2290.1
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I am not a registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk.
Thank you.
