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Trading plan for GBP/USD on November 27. Simple tips for beginneThe GBP/USD pair continued to trade higher on Friday. We have repeatedly mentioned that it has been illogical for the pound to rise further, but at the same time, the uptrend remains intact, and the trendline is present. Therefore, the pair will continue to rise until the current trend is broken. On Friday, there was no interesting event in the UK that could provoke an upward movement. Nevertheless, the price started moving up practically from the morning. During the US session, three reports on business activity in the US were released, but the data turned out mixed, as one report was stronger than expected, the second was weaker, and the third is of little interest to us.
COMEX:GCZ2023
by Xauusdkingfx
Gold Futures and swing trade optionsCurrently swing trading Gold call options and use the futures chart for analysis of price. Notice how price reverse from my point of interest at the bottom of the chart and then started making higher highs and higher lows. After price broke structure and retraced back to discount of the range I bought. As you can see there were multiple opportunities to go long. Took some profit along the way. Still have a position open for my target. Enjoying the clarity of the 4hr chart.
COMEX:GCZ2023
by ChrisCPT1974
4
Are we setting up for another Gold Christmas rally?After a week of holiday trading volume, weakness in the U.S. Dollar continued after deteriorating economic data opened the door for the Fed's first interest rate cut in 2024. As of this writing, the first interest rate cut has a 23% chance in March 2024 and has pressured 10-year Treasury yields from a cycle high of 5.05% on October 23rd down to the November low of 4.36%. That selloff has sparked renewed interest in the bullion, where ETF inflows have picked up after hitting their lowest level since 2020. While the conflict in the Middle East has been subsiding, geopolitical uncertainties should underpin prices in the long term. Taking it to the Charts Technically, it was a constructive week for Gold, with prices consolidating above the 200 DMA ($1982) and looking to challenge recent resistance at $2020. Any breach above should trigger the next wave of short covering followed by fresh buying. Momentum studies are turning higher, with stochastics rising from oversold territory, followed by the MACD histogram, which is also beginning to rise. Remember that every bull market starts with a short-covering rally. Where is my line in the sand? Pocket support for Gold is between $1955 and the 50 DMA at $1944, where any close below this level could spark "panic" liquidation. We see value in adding to Gold positions near the 200 DMA. www.tradingview.com CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs Disclaimers *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
COMEX:GC1!Long
by Phil_Blue_Line
GOLD What will happen in the near future!!Gold is in a large ascending triangle on the weekly time frame and also at C&H if it follows these patterns we would have seen gold's biggest historical rally. 🤑Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️
COMEX:GC1!Long
by CobraVanguard
3
Gold ABCD formation where D point indicates price level 2022$In technical analysis, the ABCD pattern is a geometric price pattern that is used to predict potential price movements. The pattern consists of three legs, marked as AB, BC, and CD, and it is completed when the CD leg is equal in length to the AB leg. The Fibonacci retracement levels, such as the 0.50 level, are often used to identify potential reversal points in the market. If the D point of the bearish ABCD pattern is expected to be completed at a price level of $2022 and the C point aligns with the 0.50 Fibonacci retracement level, it suggests a potential bearish reversal at that specific price level. Traders and investors often use these patterns and Fibonacci retracement levels as part of their technical analysis to make informed decisions about buying or selling assets. It's important to note that while technical analysis can provide useful insights, it is not foolproof, and market conditions can change rapidly. It's advisable to use multiple indicators and analysis methods and consider other factors such as market sentiment, economic indicators, and geopolitical events when making trading decisions. Always remember that past price movements are not indicative of future results, and it's crucial to manage risk and use proper risk management strategies in trading. If you're not already familiar with it, you may want to consult with a financial professional or do further research to enhance your understanding of technical analysis and trading strategies.
COMEX:GC1!Long
by AGCL
2
Gold: Rehabilitation 🏋️‍♂️The gold price seems to be recovering at the moment and is gradually making significant gains. We expect it to continue its corrective rise within the magenta wave (b) to the same-colored Target Zone between $2123.60 and $2147.10. An important step on this path will be to overcome the high of the magenta-colored wave alt.(x). As long as the price has not succeeded in doing so, the 40% probable alternative remains, which entails a direct descent.
COMEX:GC1!Long
by MarketIntel
Is there enough juice to push Gold back above $2000?The tides have turned this week for Precious Metals after a stunning collapse in CPI, followed by a series of weaker economic data points. Fed fund futures are questioning the Federal Reserve's hard stance. Currently, the latest CME FedWatch tool indicates a 2% chance for the first interest rate cut in January, followed by a 35% chance in March and a 65% chance in May. The modest uptick in initial claims data helped fuel the recovery in Gold, and bargain-hunters aggressively stepped into the Silver market. The Gold/Silver ratio quickly retreated from 87:1 back down to 83:1, leaving us to wonder if this rally is for real. Taking it to the Charts After pressing the 50 DMA and trading down to our pocket support ($1950-$1938), Gold futures were able to stage a strong recovery, slicing through the 200 DMA. We want to carefully monitor key resistance levels at $2000 and $2020. Any breach above should trigger the next wave of short covering followed by fresh buying. Remember that every bull market starts with a short-covering rally. Momentum studies are turning higher, with stochastics rising from oversold territory, followed by the MACD histogram, which is also beginning to rise. We see value in adding short-term options above the breakout point of $2020 and adding micro futures on any weakness to our pocket support. The technicals leave you with a clear line in the sand below $1938 for risk management purposes. www.tradingview.com CME Real-time Market Data help identify trading set-ups 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 Disclaimers *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
COMEX:GC1!Long
by Phil_Blue_Line
Are Recession Fears Still Looming? Gold is Flying Gold has enjoyed an impressive rally over the last 5 weeks - up 6% in the month of October. Historically, gold has always been the quintessential “flight-to-quality” asset. Whenever there are geopolitical or macroeconomic fears permeating financial markets, gold has outperformed. As it stands, December gold is on the brink of retesting the psychologically significant $2,000/oz level. So is the recent price strength evidence of investors’ fears of a looming recession? What other evidence would support this? www.tradingview.com Crude Oil is Crying Crude oil has fallen as sharply as gold has rallied. Since the swing high to 89.85 on October 29th, crude oil prices have fallen more than $13/barrel - settling at $72.90 on Thursday. Price contractions of this magnitude are typically demand driven, which would be another feather in the cap of demand growth fears on behalf of market participants. But, how could you explain the recent performance of the S&P 500, Nasdaq, and Russell 2000? In short - interest rates. As we near what is expected to be the end of the Fed’s rate hike cycle, equities have performed very well in anticipation of rates eventually coming down. The primary reason that the Fed would halt rate hikes, or begin lowering rates would come as a result of economic slowdowns. Stocks Are Strong All in all, the American economy has proven resilient. The rally underway in the equity markets has been substantiated by strong economic data, and disinflationary CPI readings. The proverbial “canary in the coal mine” could be consumer credit and lower-than-normal personal savings rates. However, there are very few signs of a robust economic breakdown coming in the immediate future in the United States. Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups 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 *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
COMEX:GC1!
by Blue_Line_Futures