GC1! ! Chart Idea - Short SetupSwing short setup on GC1!
Confirmations:
- Bearish Divergence
- Rising Wedge
If rising wedge breaks to the downside, TP should be around 2266 - 2260
FGLD1! trade ideas
Gold reaching $2,500 top of channelKeeping an eye open here, will encounter plenty of sellers of paper gold at these elevated levels. short term target $2,499 and expect a bit of selling then, with a possible continued trend upwards later on past $2,500
GOLD: 1 Apr, 2024© Master of Elliott Wave Analysis: Shane Hua (CEWA-M)
The outlook analysis suggests that Gold may continue to push higher, but there's a limitation on the upside potential due to the fifth wave. The target could be aimed at $2295 - $2327, and as long as the price stays above $2240, it's a positive sign for this bullish view.
Any contrary forecasts against my main trend aren't necessarily against the primary trend, but rather an indication that something might be amiss, suggesting that we should tighten our risk management to preserve profits :)
CommoditiesHere's a 1-day chart, YTD 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
Five waves and three waves? or extension for wave threeDear analysts and traders,
I hope you are doing well and are motivated for the week ahead. I wish you all the success in your business endeavors. Remember that success in trading lies in consistently defining and sticking to your rules.
As someone interested in the Elliott Wave Principle, I find it to be an invaluable tool for market analysis. I have developed my approach by combining this principle with my personal experience and by considering different scenarios that are likely to occur in the market. It should be noted that I do not like to be surprised in the market, and that's why I have different market prospects. I follow them to be sure and recognize the structure that is forming so that I can 100% recognize it.
I will share my analysis with you, but please note that I am not providing any buy or sell signals. My perspective on idea analysis is completely unbiased, so if the idea analysis meets your standards, you can use it as a guide to make an informed decision.
I have attached my previous analysis of the same market so that you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand. However, having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily.
I have been studying the Elliott Wave Principle for almost three years now, and over time, my understanding of this knowledge and experience has grown. What I have achieved so far is the legacy of a genius called Ralph Nelson Eliot, and I am really happy with my progress. May peace be upon him.
Thank you for your support so far. I will always remember your kindness. Please share your comments and criticisms with me.
I hope my analysis will be useful to you in your business journey, and I wish you all the best.
Sincerely,
Mr. Nobody
Gold COMEX Future - Intraday Levels - 2nd April 2024**Levels recorded at 7:35 PM IST
if Sustain above 2268 to 2269 then 2277 then 2286 then 2293 then 2304
if Sustain Below 2268 then 2256 then 2251 then 2233 then 2222
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.
Gold Breaks All-Time-High !Gold surged above $2286 per ounce, marking yet another milestone in its remarkable ascent. This surge has persisted for two consecutive trading days, underscoring the enduring strength of the precious metal.
The driving force behind this meteoric rise is the mounting anticipation of an imminent interest rate cut by the US Federal Reserve in June. Such a move is expected to exert downward pressure on the US Dollar, consequently fueling further gains in Gold prices. Year-to-date, Gold has surged by an impressive 9.8%, with March alone witnessing a staggering increase of nearly 9.4%.
A closer examination from a technical standpoint reveals a bullish breakout from an ascending triangle formation, marked (in blue) which has been taking shape since early 2020. This breakout signals a robust indication of sustained bullish momentum in Gold prices over the long term. For traders, this presents a lucrative opportunity to capitalize on the prevailing bullish bias both in the intermediate and short term.
Going along the phrase of "The trend is your friend", a simple trade below may capture any retracement opportunities along this steep surge.
Entry: 2218
TP: 2320 (can be partial TP or pull up trail stop)
SL: 2149
GOLD giving breakout !!!Gold is giving breakout of bullish triangle patter - targets are mentioned
Trade and earn :-)
GK
Watch how the markets Repeat Patterns Over and Over Welcome to our "Idea" where we delve into the fascinating realm of recognizing patterns in trading and leveraging them to your advantage. The core idea is simple yet powerful: patterns repeat themselves, and by understanding them, you can enhance your trading success. Our comprehensive lesson plan is designed to equip you with the skills necessary to identify various chart types tailored for different trading strategies, whether you're into Scalping or Swing Trading. Moreover, we'll explore the strategic utilization of diverse indicators to pinpoint precise entry points with high probability outcomes. By establishing predetermined stop-loss levels and setting multiple target numbers, you'll learn how to manage risk effectively while maximizing profits. Throughout this journey, witness firsthand as we demonstrate the process from defining trades in advance to executing them and securing profitable outcomes. Get ready to elevate your trading game with practical insights and actionable strategies.
Short Idea on Gold NOWHELLO GUYS THIS MY IDEA 💡ABOUT XAUSD nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the sellers from this area will be defend this SHORT position..
and when the price come back to this area, strong sellers will be push down the market again..
DOWNTREND + SUPPORT from the past + Strong volume area is my mainly reason for this short trade..
IF you like my work please like and follow Thanks
Gold to $3000 by end of year 2025Cook mentioned this in the dream. So shall it be. Gold moves forward. Perhaps the Chinese send it there.
GOLD's New Bullish CycleWe are close to my previous price target for GOLD:
In recent weeks, Gold has captured the spotlight by surging to all-time highs, signaling a potential shift in the precious metal's market dynamics!
The breakout has garnered attention from investors, raising expectations for a new bullish cycle, with some setting a price target of $2500.
Historically, gold has been perceived as a safe-haven asset, particularly during times of economic uncertainty, geopolitical tensions, or inflation concerns.
The recent surge in gold prices suggests that investors are increasingly turning to the precious metal as a store of value and a portfolio diversifier.
The $2500 price target underscores the optimism surrounding gold's future prospects!
Gold Daily UptrendGold daily analysis, decided to look at past. Came up with XABCD from November 2022 chart to Ukraine War when Gold turns Up. Coincidence it is playing out right now ?
Making Dxy very weak to sellout. Just speculation not a trade idea. lets see if plays out.
Percentage of Traders expecting XXXUSD trades to sell is 80% up....
Guess what the Market does.
a daily price action after hour update - goldGood evening and i hope you are well.
Gold
Quote from my weekly post:
short term: Neutral. Bulls could break above 2200 again and bears could also break below 2140.
bull case: Market seems bullish enough for 2220 test again and i think it this time it will break again for retest 2247. I’d be surprised if we get big sell volume around 2220 again. Market is forming multiple triangles but where are obviously still above many many bull trend lines and bears just not doing enough.
bear case: Not much going on for them. I don’t know how strongly 2220 will be sold again but market is going a third time there and bears could also just step aside and trying to short again higher. Looking for longs is the much butter play overall for gold in the current environment.
short term: Bullish. Invalid below 2200 but i think we retest 2247 soon.
medium-long term: very high probability of reaching 2300 and there i will look how the market behaves. We could be entering the equities off and commodities on cycle. Very long term Gold was nowhere near equities and that’s why betting on gold entering a bullish cycle to 3000/4000 is very low probability. Higher probability is betting on a higher high here inside a big trading range 1700 - 2200 and we will trade down over the next months. I would not enter long term positions here. —unchanged, need more time at this level or breakout to change my outlook.
Gold Increasing Value? Gap after a trading rangeFirst about Gold, we can see that after the price crossed the upper line of the bollinger band, the price entered in a trading range, and also after a doji Gold got a opening above 1% from the close.
After a bearish candle, the Bulls gained strength again and didn't went lower than the bearish candle on 22nd March. Today, the opening price was at the price of yesterday's high.
The ADX is showing us some strength, followed by the DMI+ and the DMI- is decreasing.
To compare with the US Dollar Index, we see a resistance (purple line), it's a difficult area to be crossed, that can be translated by some weaknes of the US Dollar
When I use fibs….GOLDEvery now, and then, when I see a sneaky location where orders might be hiding, I throw up the fibs just to see if it lines up with the 618, not even the 50! This is a perfect example of a sneaky level on the 1H timeframe that lines up with 618. This is a trade I would take, especially watching the Price action during the London session, I see gold I continuing to rally today!
GOLD Gold is about to make another rally to the upside, it just had a second phase of re-accumulation.
GOLD in Coming Days!!!Hi.
TVC:GOLD
✅Today, I want to analyze GOLD for you in a DAILY time frame so that we can have a Short-term view of GOLD regarding the technical analysis. (Please ✌️respectfully✌️share if you have a different opinion from me or other analysts).
As you can see, the price is in an ascending channel, the price in the channel has completed its five ascending waves and also the descending wave, as you can see, the price has now started its five ascending waves and the important points in the chart are clear. The price can easily increase up to $2300.
✅ Due to the Ascending structure of the chart...
🟢 High potential areas are clear in the chart.
➡️ Note if the PRZ is broken downwards with the strength of Bearish candles or , this analysis of ours will be failed.
Stay awesome my friends.
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Gold starts to outperform StocksThis week, with its fresh breakout gold has started outperforming cnx500.
This is generally a period of subdued returns in the stock market as big money could have shifted to gold as a hedge against inflation or upcoming correction in the markets.
We need gold to consolidate at current levels and fall down for a retest of its breakout levels. which should happen soon.
until then we may expect lower returns from equities and the indices could go into a consolidation mode.
Its not the time to be aggressive in the market, the market will make a fakeout to the top and then fall down. We will closely monitor for such a scenario.
Gold Futures Intraday Outlook: Navigating the DowntrendAnalyzing the 30-minute chart for Gold Futures (GC), we see a market that’s currently wrestling with bearish sentiment, as indicated by the recent downtrend.
**Trendline Pressure:**
The chart shows a prominent descending trendline that has been acting as dynamic resistance. The price is consistently making lower highs, which aligns with bearish momentum. For bulls to take control, we would need to see a convincing break above this trendline.
**Fibonacci Retracement Levels:**
Several key Fibonacci retracement levels are marked, with the price just below the 0.382 level at 2179.7. This is a crucial juncture as it aligns with the recent lows. The 0.5 level at 2186.3 and the 0.618 level at 2192.9 above it may serve as potential resistance areas if the price retraces from its current levels.
**Bearish Continuation Pattern:**
In the short term, the price is consolidating just below the 0.382 Fibonacci level. This consolidation could be a pause in the downtrend, potentially leading to a continuation of the bearish move. The blue arrow indicates a possible scenario where the price may break below the consolidation area and continue to fall towards the lower green support zone around 2152.4.
**Volume Indicators:**
The volume bars show relatively low activity during the latest candles, which might suggest a lack of conviction in the current price movement. An increase in volume would be needed to confirm a breakout or breakdown out of the current price range.
**Looking Ahead:**
Traders should monitor the price action around the current consolidation zone for cues. A break above could see the price move up to test the descending trendline or the Fibonacci levels. A breakdown below could see the price head towards the lower support zone. As always, it's vital to consider external factors such as market news and economic data releases that can impact gold prices significantly.
Gold Futures 1-Hour Technical AnalysisIn our latest technical assessment, we delve into the one-hour chart of Gold Futures (GC) to discern the short-term trajectory dictated by technical patterns and key levels.
Current Positioning and Key Levels:As of the most recent trading session, Gold Futures are hovering around a delicate equilibrium, with the price stabilizing near $2166.5. This pivotal juncture serves as a temporary support, one that traders are watching closely for signs of either consolidation or breakdown. Upside resistance is found at approximately $2181.5, a barrier that bulls will need to overcome to signal a shift in momentum.
The Supply/Demand Landscape:The technical landscape is demarcated by discernible supply and demand zones, with the blue shaded area beneath the current price potentially signifying a well of demand. Historically, this zone has summoned buyers to the fore, buttressing prices. Whether history will repeat itself as the price approaches this territory remains a focal point for observers.
Trendline Tales:Our chart is bisected by a series of descending trendlines, narrating a tale of bearish undertones in recent trading periods. These lines have thus far capped upward movement, reinforcing the downward pressure. A breach above these trendlines could signal a reversal of fortunes, an event watched by those keen on catching the early waves of a potential uptrend.
Candlestick Conundrums:The candlestick formation presents a quandary, characterized by small bodies and long wicks. This pattern speaks to a market in indecision, with neither bears nor bulls taking a definitive stand. Such a standoff typically precedes a significant move, as market forces accumulate energy for the next leg of their journey.
Volume’s Verdict:Analyzing the volume profile reveals a mixed bag of buying and selling, with no clear victor in the tug-of-war. This balance could tip at any moment, and volume will be a key indicator to watch for an impending breakout or breakdown.
In Summary:In the realm of Gold Futures, the battle lines are drawn at $2166.5, with any movement off this mark likely to set the tone for future sessions. A steadfast hold or a breach will be telling, offering clues to the market’s next directional impulse. Keep a keen eye on the interaction between price and trendlines, as this will illuminate the path forward. As always, we advise traders to keep abreast of global economic indicators and geopolitical events, as these could abruptly shift the technical landscape.
Gold Analysis: Potential Bearish Reversal Gold Analysis: Potential Bearish Reversal Signal Detected Amidst Option Activity and Technical Indicators
Introduction :
Gold prices have been experiencing significant volatility recently, reaching a high of 66,600 INR before retracing to 65,700 INR. Amidst this volatility, various technical indicators and option activity suggest potential shifts in market sentiment. This article aims to provide a comprehensive analysis of recent developments in the gold market, incorporating both fundamental factors and technical analysis to offer insights for traders and investors.
Option Activity:
A notable observation in the gold market is the call option writing at the 66,000 INR levels, indicating a significant resistance level. Conversely, put option writing has been witnessed at the 64,000 INR levels, suggesting a supportive stance. Option activity often reflects the sentiments of market participants and can provide valuable insights into potential price movements.
Technical Analysis:
1. Support and Resistance Levels :
- Gold has established a support level at 65,200 INR, indicating a level where buying interest may increase.
- On the other hand, resistance levels are seen between 66,000 to 66,500 INR, where selling pressure may intensify.
2. Relative Strength Index (RSI) Divergence:
- RSI divergence on the 4-hour timeframe is signaling a bearish reversal. This divergence suggests that while gold prices may have been rising, the momentum behind the uptrend is weakening, potentially indicating an impending reversal to the downside.
3. Daily Timeframe Analysis:
- A doji candlestick pattern has appeared on the daily timeframe. A doji represents indecision in the market, with neither buyers nor sellers able to gain control. This pattern often precedes a significant market move, signaling potential uncertainty among traders.
Conclusion :
The combination of option activity, support and resistance levels, and technical indicators paints a nuanced picture of the current state of the gold market. While option writing at key levels suggests potential price barriers, RSI divergence and the appearance of a doji candlestick pattern indicate a possible reversal in sentiment.
