Gold ready for a short term bounce. Gold ready for a short term bounce. Approaching a major support level.
GO1! trade ideas
Gold will lose its value one day?What do you think about it? can this growth ever fall? And what will replace gold?
My answer is yes gold can lose value, and its price can drop rapidly. Gold is a commodity that has a value based on market supply and demand. There are several factors that can affect the price of gold:
Economic factors: Economic conditions, inflation, interest rates and monetary policy can affect the price of gold. If the economy improves and investors have higher confidence in other assets, they may turn to them and reduce demand for gold, which can lower its price.
Global Geopolitical Events: Tensions between countries, political conflicts or economic crises can impact the demand for gold. If the situation improves, gold may not be as attractive to investors and its price may fall.
Level of confidence: Gold is often seen as a safe store of value in times of uncertainty. However, if confidence in other safe assets, such as government bonds or other commodities, increases, demand for gold may decrease and affect its price.
Gold futures. Range play.Huge three year range. This is a range play mode.
This is only my personal opinion and not to take a financial advice.
Gold likely going lower until rate cuts in 2024#GOLD sell we posted (trading portion) was SPOT ON (tee hee)
Barring something out of ordinary AMEX:GLD is most likely not going bull, at least, until 2024. There's also possibility it could also consolidate for few years but that's a story for another day.
The precious metal is likely headed towards 1800 area.
The last chart shows all major support levels by the dashed green line.
We will wait for reversals @ support levels.
GOLD FUTURES, Important FORMATION, Accelerate MASSIVE Breakout!Hello There!
Welcome to my new analysis of the GOLD FUTURES. The massive inflation, recession, and supply-chain disruption events that emerged in the past times have increased the investor's fearfulness and accelerated the investor sentiment in regard to a favoring of safe haven investments to hedge against the massive inflation, recession, and supply-chain disruptions events. GOLD has been not only around for several thousands of years and already survived the great depression, the dot-com bubble, and the financial crisis but it has also become more and more popular in terms of an exchange value in a new gold-backed currency system implementation.
The signs in the GOLD FUTURES price-action that I have spotted within recent times also point to a major interesting underlying dynamic as the GOLD price-action already had the ability to bounce within the 1620 and 1690 structure supports already forming an important bullish price spike towards the all-time-high direction this is forming a structure from where the GOLD price is now also building a substantial base above the 1920 area. These major open interest developments have created an ABC pattern with A being the pole and now with B forming this is forming the base from where a massive all-time-high breakout has a tremendous possibility to emerge.
Furthermore, from the daily timeframe perspective, GOLD FUTURES are forming this substantial descending triangle formation that is likely to be completed with a final breakout above the upper boundary and from there on mark initial targets of 1240.5. From a weekly timeframe perspective, this will also complete the major GOLD base breakout from where GOLD is going to emerge with the wave C extension and activate a minimum target of 2500. In the next times, these are important levels to watch out and especially the final validations are going to have an enormously important effect on the actual price-action determinations to consider for the upcoming times.
Remember, that the current dynamics are backed by investors who are looking to hedge against major inflation, recession, and supply-chain disruption events, and in this case an appropriate additional acceleration of the price-action moving at a faster pace will be realized with the necessary gold-backed currency system implementation.
Thank you everybody for watching my idea about GOLD. Support from your side is greatly appreciated.
VP
ES and goldOctober 2nd 2003 2:30 am This was a tough video for me because I know my choice of words aren't necessarily clear as I try to look at the price dynamics of these markets. If I weren't showing my charts or working with other people it wouldn't matter so much to me because I know in my mind where the buyers are and the sellers.... and if the market moves in a certain direction I know if the market's moving higher or lower.... which seems Like a no-brainer statement because you would think if the market's going higher.... well it's going higher. But it's more complicated than that which is why you need to be able to make decisions about how much higher it will go.... and that's the battle... and it's the same battle when you try to decide when a market's going lower how much lower can it go. Sometimes the market gives you perfect clues... and it's not just what it does, It is also about what it doesn't do that is your clue. And sometimes it happens in a split second...You see it and if you don't recognize what it is you will miss it and you might not be able to take the trade or you might have to wait till the market does some kind of a retest and then maybe you can get in a little bit later. In any case we took a look at the es and the gold. The same thing is going on with silver but I didn't have a chance to talk about it. The one thing I did not say in the video is that extensions show you a high probability reversal but they don't tell you any more than that. An ABCD Tool can show you a reversal and a target....a target that can be a reversal.... there is a difference. didn't talk about it on this video. I have talked about it a number of times on previous videos... and I will talk about it on future videos if I am confusing you.
Big opportunity to buy Gold on DipBig opportunity to buy Gold on Dip
Weekly and monthly time frame forming....Double top..Target is 54000
Gold MCX entered into demand zoneHi every one
you can start investing from here
gold entered into demand zone
Thai Baht Gold has reversed its position to downsideThis aligns with my anticipation of a price retracement from 33,440 . Presently, the bearish trend appears robust, necessitating patience until the price establishes a support level in the vicinity of 33,070/90 for a suitable entry point for buying. Additionally, I'm looking for the price to construct and fulfill an ABCD pattern , meeting my criteria for initiating a position in Thai Baht Gold when it demonstrates strength.
Gold started upside move On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Gold big down move is started The chart is that on GOLD It seem we are now at a major support of fib .618 If it breaks I see us at the bottom of the bands in a wave C decline for DEFLATION a low on or about nov 13th
GC - Gold retests the L-MLH for a shortSince gold broke out of the L-MLH, I was waiting for this opportunity. This is a nice test of the L-MLH.
Be aware that it could drop and come up again for a re-Test of the L-MLH. So stops have to be places accordingly.
As for the red Centerline, we also have to be aware that the CL was already reached back on Aug. 17th.
So any accelerator could pump up GC back into the white Fork.
GOLD, Major Volatility-Indications, Open-Interest Market!Hello There!
Welcome to my new analysis about GOLD on several timeframe perspectives. Gold has shown up with an decisive pullback since the highs in May 2023, with this dynamic further assumptions on the direction of GOLD are important. In the recent times expectations for declining CPI- and PPI numbers offer a more positive outlook on a more middle-to-long-term-perspective for assets like gold. Also rising war and economic risks established since March 2022 increased the overall institutional and state treasury open interest in gold and marked the increased volume that established the protracted momentum wave.
Nonetheless on the short-term rising bond prices can trigger a next corrective wave and the technical perspective is indicating a main descending-channel in which is gold just recently completed a local bear-flag to determine further continuations into the wave-count direction to the downside to form the wave C of the main wave-count. It will be important how gold then moves into the final targets at 1800 because in this case such a formation can also invalidate when the bearish momentum is really high.
On the weekly timeframe perspectives it has to be pointed out that gold already emerged with a strong bullish momentum wave which is backed by institutional open interest and offering a strong origin of the bull-flag to actually complete. With the open interest increasing further and gold continuing with a stabilization within the flag-formation a breakout of the bull-flag gets more likely from where the target-zones can be projected pointing out to the 2400 level as a target.
It will be important how the market develops within the next times especially with Gold moving into the bear-flag targets zones within the flag-formation and how the momentum develops in this case to consider further dynamics.
In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated.
VP
5 Reasons There is an Opportunity in Gold NowGold looks to be an interesting opportunity here.
1. Trend Break
2. Higher High
3. Higher Low
4. Trend Continuation
5. 3:1 - Low risk Opportunity
Always know your exit. If it booms then a little is all you need. If it busts then a little is all you want.
GOLD DIPPED GOLD
at a critical daily level and building a small base structure. Will those newly formed trends withstand the strength of the higher timeframe older trends? If not, we might gold continue to dip.
Gold. Bobby's homework assignmentSeptember 27th. Sometimes even in your favorite markets there are times when a trade decision is very difficult and you will know when this happens because what you're looking at isn't clear for you to decipher to make a trade decision. Even if you have a good trading system that you've worked out over a period of time....there are times when it's hard to make a decision...and that's when you're going to start making mistakes Lose money on impulse decisions without clarity. Even if you have good trading tools and use them in a discipline manner... there can be conflicts that you can be aware of... which is better than not knowing at all why it doesn't feel right... but these are times when you can make dangerous decisions. There's one thing I know for certain regarding the markets>>> some trades are much easier to identify and will give you much easier decisions.... so take those trades. If you miss a good trade then go back and review the setup to see how you could have recent through your decision more productively. Everybody who trades has losing trades, completely missed a good opportunity. But this is not what loses money... it's the impulse trading to take a chance when the market's not clear to you that will lose the most money.... and the process means that you're willing to take a trade on impulse without reconciling why you are willing to take a trade without having a clear reason. Every trade has a risk but you want to take trades that you think gives you an edge and you're not going to have a good edge if you don't know how to read the market.... and you will still have losing trades with a good system... but you have to develop your edge to minimize this and it's a very least... don't take a trade when it's based on flipping a coin. There are exceptions... I would consider taking a trade with a lower probability, but the reward is so significant and the stop is so small, I may be willing to take that trade ...But that is completely different than taking a trade on a whim with no significant thought.
GOLD 100% Fibonacci Retracement Test of Bearish TriggerGold posted a low of 1890.60 on 21st August before climbing sharply to the 31st August high of 1976.10.
We are now seeing Gold plummeting back towards to the August low which would complete a full Fibonacci retracement resulting in a solid Bear Trigger.
Gold Shangai Gold (Physical) / Comex futures SpreadGold Shangai Gold (Physical) / Comex futures Spread
Gold LongExpecting gold price (xau/usd) quadruple in ten years. I estimate at least 6500usd. This estimate is for current economic conditions of the world. No one knows what will happen in ten years. Biggest problem with gold price is people buying gold virtually over banks etc., when people start to buy gold physically, it will skyrocket beyond my estimation. They are currently trying to make sure people don't buy physical gold. They say everything good in the world and economy. We will see how that plays out.
Debunking Myths: Gold's Ineffectiveness as an Inflation Hedge Gold has long been considered a safe haven during times of economic uncertainty, but its reputation as an inflation hedge is questionable at best. While it is true that gold has historically shown some correlation to inflation, this relationship is far from foolproof. In reality, there are several reasons why gold's performance as an inflation hedge falls short:
1. Limited Utility: Unlike other commodities, gold lacks practical use in various industries. Its value primarily relies on its scarcity and desirability as a precious metal. Consequently, gold's price is influenced by factors beyond inflation, such as geopolitical tensions, investor sentiment, and currency fluctuations.
2. Inconsistent Correlation: Over the past few decades, the correlation between gold prices and inflation has proven to be erratic. During certain periods, gold has indeed demonstrated a positive correlation with inflation, but there have been instances where the relationship has weakened or even reversed. This unpredictability undermines gold's reliability as a long-term inflation hedge.
3. Opportunity Cost: Investing in gold often comes at the expense of other potentially more lucrative assets. While gold may provide some degree of protection against inflation, alternative investments such as real estate, stocks, or even certain commodities have historically outperformed gold in terms of returns. Ignoring these opportunities could hinder your portfolio's growth potential.
Considering these factors, it is prudent for traders like us to explore alternative assets that offer better performance as inflation hedges. Diversifying our portfolios with assets that have a stronger historical correlation to inflation can help mitigate risk and potentially enhance returns. Some potential alternatives worth considering include:
1. Real Estate: Historically, real estate has shown a strong correlation with inflation, making it an attractive long-term investment. Additionally, rental income from properties can provide a steady cash flow stream, further bolstering its appeal.
2. Stocks: Certain sectors, such as consumer staples, utilities, and energy, have historically performed well during inflationary periods. Investing in stocks of companies within these sectors can offer a more direct hedge against inflation.
3. Commodities: While gold may not be the ideal inflation hedge, other commodities like oil, natural gas, and agricultural products have displayed a stronger correlation with inflation. Exploring these commodities can provide a more reliable hedge against rising prices.
In conclusion, it is essential to challenge the prevailing belief that gold is a foolproof inflation hedge. By considering alternative assets that have historically demonstrated better performance, we can position ourselves for greater potential gains while managing risk effectively.
As traders, it is our responsibility to question established norms and seek out opportunities that align with our investment objectives. I encourage you to explore these alternative assets and assess their potential for better performance as inflation hedges. Together, let's navigate the ever-changing trading landscape and make informed decisions for our portfolios.
GOLD Dec Futures Bearish Triangle Pattern TrendFollowing the low of 1939.6 on 29th June, Gold rallied strongly to 2029.3 on 20th July.
The price capitulated, reaching 1914.1 on 21st Aug, then rebounded to 1980.4 on 1st Sept.
Despite coming close on 20th Sept in the lead up to the FOMC meeting Gold did not overcome to the1st Sept high and instead has recommenced another retreat.
The Bearish Triangle Pattern remains in place.
Watch for pattern breakouts as a signal of trend reversal.
Gold Futures / GDC / XAUUSD / ETF - GDX - BearishTVC:GOLD ACTIVTRADES:GOLD NYSE:GOLD AMEX:GDX COMEX:GC1!
As per my previous post on Gold, the current price action is creating and symmetrical triangle on the daily chart and as we can see PA rejected off from the .786% retracement.
With daily rejecting off 1968 levels confirms there is more downside remaining and the break of below triangle trendline will open up targets of 1894 and 1834.
According to Elliot Wave, we completed 5 waves in May 2023 and currently the PA is printing an ABC Zig-Zag pattern.
RSI : Below 40 will trigger more shorts.
MACD : Is still below 0, suggests bearishness.
Candlestick Chart:
If price action breaks 1947, next target for TP is 1934 and 1924.
On candlesticks we have two patterns - 1) Bearish Harami 2) Evening Star doji.
According to my trend analysis indicator, we are trending sideways between 1919 and 1974 levels.
My previous posted Ideas on Gold.
OANDA:XAUUSD FOREXCOM:XAUUSD
COMEX:GC1!
AMEX:GDX
