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
AU1! trade ideas
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.
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.
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
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
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.
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.💰📈
--
#1-You can trade Gold without using margin
#2-Gold stores your purchasing power
#3-Gold stores your wealth long term
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Another alternative to buying Gold is this crypto --> GATEIO:XAUTUSDT
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Disclaimer:trading is risky you will lose money wether you like it or not please learn risk management
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.
Gold COMEX Future - Intraday Levels - 14th June 2024if Sustain above 2325 then 2340.5 to 2347.5 or 2352 to 2354.4 above this bullish then 2358.7 to 2361.4 then 2365.7 to 2368.2 or 2372.6 to 2376.9 above this more bullish then 2379.7 to 2383.9 then 2390.8 to 2397.9
if Sustain Below 2318 then 2311 then 2307 to 2304.1 below this bearish then 2290.7 to 2288.6 then 2281.6 then 2276.3 to 2274.6 or 2270.3 to 2267.7 below this more bearish then 2263.4 to 2260.1 then 2256.4 to 2252.1 then 2249.5 to 2245.2
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
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 70,100 possible !!we have seen on daily time frame price formed rising wedge pattern
on friday 7jun we seen a bearish big candle confirming the breakdown of the pattern
price then tried to take a bounce from recent orderblock
but we can clear see that the bearish pressure is not letting the bullish orderblock go any further up
causing the price to form a small triangle pattern which will eventually work as buildup for more down side and we can 70,100 level in coming days
will further after price hits 70,100 level
follow for more
