GC Long trade 10/24/2024GC has been in an uptrend in 4hr chart. But the recent price action shows SW momentum. BT at MA. I risked $250 in 1hr HV Confluence DZ. Take profit: 1:1.1.
GO1! trade ideas
MGC Short 11/7/2024MGC is in a downtrend in 4hr chart. Placed a short position in confluence HV SZ. Risk= $200. Target= 1:1 and close to daily DZ.
BigAskMagnet Institute: The Case for Going Long on Gold FuturesAt BigAskMagnet Institute, we strongly advocate for a long-only approach to gold futures in the current market. Here's why:
1. Fundamental Drivers:
Inflation and Currency Risks: Persistently high inflation and weakening currencies are solidifying gold’s position as a hedge.
Geopolitical Uncertainty: Ongoing global tensions are fueling demand for safe-haven assets, with gold leading the charge.
2. Technical Strength:
Recent price action confirms a strong bullish trend, breaking through critical resistance levels at .
BigAskMagnet Institute anticipates further upside potential, with targets at .
3. Long-Only Strategy Benefits:
Gold’s long-term value proposition makes short positions riskier in this environment.
BigAskMagnet Institute recommends focusing solely on long entries, using pullbacks as buying opportunities.
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Key Points:
Fundamental Factors: Gold is regaining its status as a safe-haven asset amid global uncertainty.
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MGC Long 11/6/2024MGC is in a downtrend. Price is testing daily DZ (blue box). Placed a long position in HV DZ. Taking half risk because it is a countertrend trade. Risk= $125. Target= 1:1 and HV SZ.
GoldAs of November 7, 2024, gold prices have experienced significant volatility, influenced by various global economic and geopolitical factors.
Current Price Levels:
Gold is trading around $2,734.79 per ounce, slightly below its recent peak of $2,790.15 reached on October 31, 2024. (Reuters)
Technical Analysis:
• Support Levels: Immediate support is observed at $2,608.30, with stronger support around $2,468.20. (MarketScreener)
• Resistance Levels: Key resistance is near the recent high of $2,790.15. (Reuters)
• Moving Averages: Gold is trading above its 13, 48, and 200-day EMAs, indicating a sustained bullish trend. (Economies)
• Relative Strength Index (RSI): The RSI is around 58.93, suggesting mild bullish momentum without being overbought. (Moneycontrol)
Fundamental Factors:
• Geopolitical Tensions: Ongoing conflicts in Ukraine and the Middle East have increased gold’s appeal as a safe-haven asset. (Reuters)
• U.S. Federal Reserve Policy: Anticipated interest rate cuts by the Federal Reserve are expected to support higher gold prices. (Reuters)
• Central Bank Demand: Robust purchases by central banks have bolstered gold demand. (JPMorgan)
Outlook:
Analysts predict that gold prices could rise to $2,600 or $2,700 by the end of the year, driven by geopolitical uncertainties and expected U.S. Federal Reserve rate cuts. (Reuters)
Conclusion:
Gold’s technical indicators and fundamental factors suggest a continued bullish trend. Investors should monitor geopolitical developments and central bank policies, as these will significantly influence gold’s trajectory in the coming months.
Disclaimer: This analysis is for educational purposes only and should not be construed as financial advice. Always conduct your own research or consult with a financial advisor before making any trading or investment decisions.
MGC Short 11/3/2024MGC is in a downtrend in 4hr chart with a cross below, retest and follow through (FT). Placed a short position in 1hr HV confluence SZ. Taking half risk because daily and 4hr trends don't match. Also, price is rallying from daily DZ (Blue box). Risk= $125. Target= 1:1 and 3:1.
MGC Long 10/29/2024MGC is in an strong uptrend. Made ATH. Placing a long position in 1hr HV DZ far away from MA. Hence, taking half risk. Risk= $124. Target= 1:1 and 3:1.
Scenario GOLD levels update This view of gold actually somehow confirms that I should be on the good side of the market, outside of the original analysis, we could see a false breakout from which the price consolidated around the zone marked by me, which may show us a head-and-shoulders formation, which may be followed by a correction against this formation
Quick Short Scalp TradeI'm targeting a more risky liquidity however I moved TP a bit lower. If trendline hits and keeps falling great if not and it hits that SSL "red line" then reacts to shoot up i will close trade in some profit. Lets see. I have already entered before posting this.
Also this was done on 1 min TF but have to post this as 15min lol
Gold Shines Amid Political and Geopolitical UncertaintiesGold trades in positive territory on Monday, supported by risks surrounding the upcoming U.S. presidential election and ongoing geopolitical tensions in the Middle East. These uncertainties enhance gold's appeal as a traditional safe-haven asset, attracting investors looking to shield their portfolios. In the short term, these factors are likely to keep gold’s price elevated.
However, the upside for gold is capped by renewed demand for the U.S. dollar and rising U.S. Treasury yields, which make non-yielding assets like gold less attractive. Higher yields increase the opportunity cost of holding gold, thereby limiting its potential for significant gains.
Investors are closely monitoring the presidential election on Tuesday, as well as the Federal Reserve’s upcoming rate decision on Thursday. Market expectations lean toward a moderate 25-basis-point rate cut from the Fed, reflecting caution amid electoral uncertainties. This approach could further temper gold’s gains if the dollar remains strong.
In summary, while political and geopolitical risks lend support to gold, its upside is constrained by a strong dollar and rising yields, making investors cautious about heavy positioning ahead of key events this week.
gold erl to irl+gold could consolidate a bit then run for late shorts and might stay bullish
+took sell side liquidity
+disrespected hourly fvg
-mss bearish
First trade toodayFed meeting: If the Fed signals a pause in rate hikes, it could weaken the dollar, which supports gold.
Geopolitical uncertainty: Rising global tensions often push investors toward gold as a safe haven.
Technical level: prices break and hold above the $2,800 level, it would signal a major bullish move
goldtook short until pm ssl, look for bulls to take out london BSL, failure to take out london bsl and once asia range forms asia BSL then expect a move towards NY lnch SSL, AM SSL, PM SSL. looking for the move down between 12-3 est, could come before. shorts under ny ssl looks very valid.
goldlet Asia BSL form if failure to go hihger look for AM SSL, thesis is short but need to see how price acts up here. daily we swept past ATh creating a new one looking for a top over the next couple of days not saying top top but some sort of pullback
GC Long 10/28/2024GC is in an uptrend but trading SWs. Placing a long position in HV DZ far from price. Taking a deeper entry because the zone has been tested multiple times. Risk= $250. Target= 1.1 from entry.
2024-10-29 - priceactiontds - daily update - goldGood Evening and I hope you are well.
tl;dr
Gold - 2800 is close, nothing is stopping this. BTFD. I expect bigger profit taking around 2800.
gold
comment: I gave the 2800 target a long long time ago and we are close. Only question is, where do you enter new longs? We have a decent channel upwards where the lower trend line is around 2760. Market also respected the 1h 20ema today. We have a big bull trend line from July right above us and that should be resistance until clearly broken. I can’t see this breaking above it, so I would rather buy on pullbacks and I do think there is a very good chance we will see a bigger correction once we reach 2800.
current market cycle: late bull trend
key levels: 2750 - 2800
bull case: Bulls want 2800, that’s it. Any pullbacks should stay inside the current channel and not go below 2760. The rally has become climactic and we can expect a pullback/correction soon.
Invalidation is below 2760.
bear case: Bears see the pattern which lead to around 2800 and it’s a big obvious number. Not many want to short this until market has reached it and they see more bulls taking profits. That is why we are currently in a big hurry to get to the target and bears are not fighting it. On the monthly chart this rally is beyond climactic already and I seriously don’t know if Gold ever printed bigger gains in 4 months or even 4 straight big green months at all. This price action is unsustainable and we will see a bigger correction over the next months.
Invalidation is above 2810.
short term: Bullish and you should not look for shorts until we have touched 2800 and bears build much greater selling pressure.
medium-long term - Update from 2024-09-22: Very strong breakout above, again. Market currently has no ceiling. Most likely 2700 next and I do think 3000 could be a potential target if we continue. There is certainly an argument for a measured move based on the bull rally from 2018-08 to 2020-08.
current swing trade: None
trade of the day: Buying the breakout around US open above 2770, which was a textbook breakout and good for 160 ticks. Also legit was buying the 1h 20ema, which could have been more profitable but with more risk since your stop had to be wider.
goldthesis is long, invalidated if unable to hold above pdc at 2755. AM BSL taken out already this afternoon. Gap as been filled from yesterday. 2757.6 will be the telltale if we want to continue to push towards 2760, and London BSL toward all time high. If AM BSL is unable to hold then look to short toward AM SSL AND ASIA SSL. Daily was able to defend 10/25 lows wicking up creating another doji, also an inside bar. We stay in range until we break above 2760.86 or below. The bearish marubozu on 10/23 has had us trading inside a daily bar since then.
Return Point Forecastwe can forecast return point in the future
1 : define market structure choose return candle stick
2 : Draw start and end bar is 13 bar
GC Long trade 10/27/2024GC is in an uptrend in daily and 4hr chart. Macro match. Taking a long position in confluence DZ (HV Demand Zone that coincides with 4hr 21 EMA). Risk= $250. Target= 1.1 from entry.
