GD1! trade ideas
Potiential bullish run upCatching a quick late night ride on gold. update of potential targets while trailing.
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.
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.
#Gold #XAUUSD Trading The Bullish SequenceIn this update we review the recent price action in Gold and identify the next high probability trading opportunities and price objectives
PAST PERFORMANCE NOT INDICATIVE OF FUTURE RESULTS
The preciuos metal has 2090 as a critical levelHello traders and investors
As shown here on my chart gold if breaks its higher level (2090) it will reach TP1 around 2200 and TP2 2550. so 2090 it is the key of all blowups
Remember traders that i am not having a cristal ball predicting markets moves but i try to be more efficient and rational
Good luck
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.
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GOLD: $1415 | Geopolitics Towards $1600as the store of value of governments nations acting as underlying driver of ones economy.
this rock is being marked up as supply has already been accumulated in the last 3 years since GREXIT
and the next looming bubble that of Europe coupled with partisan politics... a flight to safety is the
natural instinct of fund managers to resort to good old HEDGE which is GOLD.
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.
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?
Gold current scenarioCurrently good is overly boomed by geopolitical tension arise, views looks it might release some air before going up again. Let's see.
Gold medals ght go below 58300,to tgt 58900-59600-59300.
Upside above 58300 we might see jump here.
Technical and digital analysisWe notice that we are in a correction to the upside, and there is an increase in the buying momentum, and we wait for the selling momentum to weaken in the correction, and we buy
Is the Downtrend Nearing its End?Last Friday, on October 13th, a significant white candle with exceptionally high volume was observed, possibly driven by two catalysts:
– Escalating geopolitical conflicts.
– A decrease in CPI, leading to market expectations of a potential halt in rate increases by the Fed.
Trend
– A large white candle with exceptionally high volume touched the upper boundary of the downtrend channel.
– Let's observe if the market can sustain its bullish momentum next week and breach the downtrend channel.
Symmetrical Projection: Breaking the Downtrend “N” Pattern
– The 100% price projection from the initial swing starting at the 2nd lower high has been achieved.
– Furthermore, the price has already surpassed the 100% projection of the pullback, indicating the possible termination of the downtrend pattern.
– After this breach, we can expect either a reversal in the trend or a sideways movement.
Conclusion
– An uptrend is more likely to occur based on the two situations mentioned just now:
A large bullish candle with exceptionally high volume is on the verge of breaking the downtrend channel.
The downtrend N pattern has been disrupted.
Preparation for the Possible Uptrend Scenario
– Instead of simply jumping into the breakout, I will be waiting for a retest before getting on board.
– Potential retest levels: Some key Fibonacci retracement levels from the lowest low (A) to the previous high (B) (assuming the previous high is the initial target price of the upward move).
The 0.236 level: close to the key level at 1969.
The 0.382 level: close to the high of the second pullback of the downtrend.
The 0.5 level
Not Financial Advice
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
5 Steps:The Secret Of Gold#1-Teach Yourself Gold COMEX:GC1! Trading In Technical Analysis
This is the one time gold is performing better than bitcoin.
#2-Stop Trading And Start Watching Gold
Gold has gapped a powerful 3% - as you can see in the chart above.
#3-Sick And Tired Of Losing Trades?
Losing trades can be discouraging but if you consider trading gold then you will be okay.
#4-Need More Profit?
This gold trade is more likely to give you profit this coming week.
#5-If You Can Trade You Can Buy Gold
Ideally the best time to buy gold is when no one is expecting it to rise.This gap is a powerful signal for you and me to follow.
Disclaimer:This is not financial advice do your own research before you trade
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GC1! Gold Futures Short setup I present to you a possible scenario going into the weeks ahead .
Gold finished Friday 13 Oct very strong with a move that no doubt destroyed many whom were taken by surprise with the aggressive move out of 1880 back up to 1945 in one trading session .
The question is what's next? Well no one has the exact answer but here is a possible scenario which could be on the cards . I would not be surprised to see a small pull back and all the shorts to pile in trying to sell the top before getting trapped/destroyed with another move up towards $1970 taking out the sept 20 high/liquidity before a much bigger move to the downside.
To give my chart the uncongested cleanest look , I have removed some of the levels inside of the Fib Channel to make it easier on the eye .
Above we have a High volume Node+ Liquidity and the golden pocket + Fib Channel as confluences .
I will be expecting a reaction at this region and will act accordingly .
More data will be required to determine if this is to be another LH on the HTF or a deep RT and continuation to the upside .
Set alerts at the given region and manage your SL in accordance with your trading plan and appetite for risk.
Like and follow for more setups like this and check out my previous analysis on Gold
GC XAU Weekly Analysis - Want the Bull Party to Continue
⌚️WAIT & SEE MODE / SLIGHTLY BULLISH BIAS ⌚️
🟢Super Strong Bullish Momentum Currently
🟢Geopolitical Situation is Bullish
🟢Currently in Weekly Bearish Order Block, Watching for H4 Bearish PA
🟢Ideally, want to See 1968.9 Highs Taken
Metals Setup Apex "V" (PANIC) Bottom - Rally Will ContinueGold and Silver are setting up a nearly perfect deep "V" bottom after a bout of PANIC selling over the past few weeks. This sets up a move for Gold to rally above $2250 and Silver to rally above $28.50.
Ultimately, I believe Gold will exit the Setup Phase and peak in the next phase, the Breakaway Phase, above $2450. Silver will follow with a rally to levels above $31 as it moves away from the Setup Phase and peaks in the Breakaway Phase.
These are big moves for Gold and Silver - 15% to 25% or more.
This also sends a clear message to the general/global markets that traders are hedging the uncertainties of the conflicts and the central bank/global economy credit issues. I see the next 14 months, before the US POTUS elections (Nov 2024) and possibly a few months beyond, as very concerning for the US/Global markets.
Where will the economic growth come from to drive expansion? China is contracting. Asia is contracting. Europe is contracting. The US is still operating reasonably well, considering much higher interest rates. Canada is still holding up okay, considering an extremely over-inflated asset bubble.
How long before something breaks if the US Fed decides enough is enough and moves to PAUSE rate hikes?
I guess we won't see a pause in the US Fed until possibly May/June 2024. And that will drive a fear/hedging/panic cycle where USD assets and precious metals become an effective hedge against risks.
Pay attention. This next move in metals should be very explosive.
GOLD LIVE CHARTS gold price natural and price trend in range so please follow points mark on chart and trade accordingly as per chart .
An opportunity to make some money from goldWhen the market price reaches the place where the deal was taken, you can take a buy position
We set the stop loss at 40 ticks and take profit at 120 ticks with RR1/3
Do not risk more than 1 percent of your money on this deal
Bad times to be a GOLD bullAlready yesterday we pointed out that the recent rise in the gold price was accompanied by weak volume.
Today, the market has shown clear signs of weakness for the first time in a week.
The CumDelta in gold futures reveals a massive hidden bearish divergence.
The strength of the signal suggests that the market will not only retarget the early October 2023 lows, but also undershoot them.
Market reviewOctober 12th 8:14 am eastern. We started at Bitcoin which is resting on a 382 retracement but it is trading in a very narrow range. The ES is a little more complicated and it is coming to a measured move higher... and even if it goes higher I still think the larger pattern suggests that it will reverse and if it does that it could go considerably lower. The key point for Spending time on the ES focuses on how you could have stayed in this trade if you were willing to look at the 4-Hour chart as well as looking at two bar reversals... and you would not really be on the wrong side of the market if you did this... as it was grinding higher. Gold is grinding higher.... it is in a V formation and it looks like it might retest the area where it gapped lower. Grinding markets can be bullish but they're not easy to trade because they don't have structure and retest that you might see in trending markets that are not grinding markets.
