Gold H4 | Resistance overheadGold (XAU/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 2,047.84 which is a pullback resistance.
Stop loss is at 2,091.00 which is a level that sits above the pullback resistance as well as the 61.8% Fibonacci retracement level.
Take profit is at 1,976.66 which is a pullback support.
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Commodities
USOil WTI Technical Analysis And Trade Idea USOil WTI has shown a robust bearish trend of late, reaching into a noteworthy support level on both daily and weekly charts. The accompanying video offers an extensive breakdown of this trend, meticulously dissecting price actions and pinpointing potential trading prospects by conducting a comprehensive analysis across various timeframes, spanning from weekly down to as brief as 15 minutes. Expect a thorough exploration encompassing price fluctuations, market trends, trend assessments, and critical technical analysis elements. It's imperative to highlight that the insights shared here are solely for educational purposes and should not be construed as financial guidance.
GOLD & SILVER @ KEY SUPPORTFOREXCOM:XAUUSD & FXOPEN:XAGUSD are at key Double Fib levels at the same time. We are also in a Change in Trend Window today and with a lot of things at extension levels and with Interest rates in the US coming out tonight its setting up for a volatile day.
I hope this helps.
Enjoy the day.
GOLD XAUUSD Technical Analysis And Trade IdeaIn recent times, GOLD (XAUUSD) has exhibited a robust bullish trajectory. This video meticulously dissects this trend, delving deep into price actions and uncovering potential trading opportunities through comprehensive examinations of both weekly and daily timeframes. Expect an exhaustive evaluation of price dynamics, market patterns, trend evaluations, and essential technical analysis elements. It's pivotal to underscore that the information shared here serves solely for educational purposes and should not be misconstrued as financial counsel.
QUESTIONS I have for GOLD | GOLD IS A MONSTERDo you think zones create price? or price creates zones? It is a question most traders would never ponder right? Be honest, have you? I ask myself this question rather frequently and the more I ask it the more I realize that it makes more sense that price creates the zones. The reason this is important is because if we know that zones are being created with price we know that there is a high level of manipulation that occur at the very zones many traders believe can hold.
Think about it - why do you think gold would have destroyed that high so beautifully last night? it is very likely because traders would have been induced to sell off the ATH (all time high) as they would have done so 3 times in the past 3 years. The dealer knows this and will take full advantage of it.
Your job as a trader is simple - ask as many questions about what you are looking at as possible because it is asking the relevant questions you get relevant answers or close to relevant as possible. So now, I have to ask - do you ask a lot of questions when you produce your analysis? or do you simple make your drawing, make your assumption and then prepare for entry?
If it is the latter I believe this is the wrong way and is more rooted in guessing than analyzing. I'm not saying you need to be like me and explain everything down to the T but I do believe we can ask more questions about what it is we are looking at - this in turn should give us a better idea of what is likely to occur without feeling like we are taking shots in the dark.
In closing - I will be watching gold for a temporary sell if this momentum can continue however I am still constantly wondering what is the reason the dealer would show sells in such a bullish market after just surging through the high, buys remain elusive at this time but I will update if I see a buy.
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GOLD I Pullback from record high Welcome back! Let me know your thoughts in the comments!
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GOLD LOL - Heavy Manipulation on GOLD | Saw it coming days ago!Hey guys what's up Brandon here, @ekatatrading, this idea isn't to give a signal - it is more so to give my understanding of why I thought that gold could do something like this weeks ago, I will link these Tradingview ideas in this post.
Sellers really didn't understand that any sell they would have taken would have been an induction, it didn't mean that you couldn't sell - it simply meant that you had to be aware that the sell would have been temporary, this is something that I would have mentioned in EVERY SINGLE POST I MADE REGARDING SELLS in any way on gold.
The sell was always meant to be a short term thing on gold because again as we know - the gold market is and always has been bullish.
Given the circumstances now - I highly advise against placing trades in ANY DIRECTION on gold - whether it be buys or sells, as if you just check most brokers you'd probably realize the spreads are much wider than normal and gold is easily jumping hundreds of pips in literal seconds. Not good for an entry in my professional opinion.
Just imagine, other "professionals" are telling you to sell now because again they don't realize that it's still very much a heavy induction (manipulation) and here I am - just a simple guy who likes explaining what I see, telling you that trading now may not be the best idea. It's also quite interesting, most people won't read this entire post and an even smaller percentage of people who actually take the time to read what I am saying will take me seriously, but I guess that's why a small group of traders actually make all the money in this industry right?
The money has to come from somewhere lol
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Gold Has Broken and Is Staying Above US$2,000Why has gold broken above the $2,000 level? And why is it likely to stay this way for a long time?
This is because the USD has been weakening since October, and we can observe an inverse relationship between them during this period, as well as in previous periods.
Micro Gold Futures & Its Minimum Fluctuation
0.10 per troy ounce = $1.00
Code: MGC
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GOLD remains a BULL Market despite SELLERS desires"NEVER GO AGAINST THE MOMENTUM UNLESS A REVERSAL IS CLEAR" - @ekatatrading \ Brandon Abass
This is a law that I have created for myself many years ago and it continues to serve me to this day - like I would have mentioned earlier today I missed my opportunity to buy but never the less the law holds true.
Please Note - this is not me telling you to BUY here but I am saying Don't sell lol
Selling at this point in time on gold in my opinion is extremely dangerous as it is a very very obvious level in which sellers would be interested - Now if you are ok with being like everyone else & getting results like everyone else...then YES, ABSOLUTELY SELL HERE NOW! But at some point we have to stop and take charge of our own decisions and realize that following what everyone else will do in certain scenarios is what is leading you astray.
GOLD at the end of the day is a bull market and if you are selling - I'm sorry but I got some news for you buddy, you may win today but it will take back that money from you at some point very very soon unless you understand the absolute flow of things.
NOW, this may seem like a pretty ignorant statement without me covering different trader styles, maybe you want to sell and not hold for very like in the sense of doing a scalp type trade..this could work if your timing is very good and you are aware that the sell will be very temporary and is extremely dangerous but I've seen some traders selling with take profits back at the 2000 level - if gold gets back down there well we definitely have a problem for buyers.
All in all - let the momentum tell you what is likely to occur rather than guessing and calling it "an analysis". Godspeed to all sellers, may the odds be in your favor
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