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GF1! trade ideas

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.
COMEX:GC1!Long
by BradMatheny
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.
COMEX:GC1!
by ScottBogatin
1
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