Gold (GC) Falling Wedge 1h- Falling wedge with fib extensions up to price targets of 2697 and 2730
- SL would be breakdown of wedge and failure to reestablish
QO1! trade ideas
GOLD --- When Breakout? $2700 Target remains in place. The war against sound money...
keeping a "lid" on the price of the worlds biggest asset
and truly the only real collateral in the world.
Is being slowly lost.
We have a continuation head and shoulders that many people are watching.
But something to note
Is that the previous times #Gold has traded above 2 thousand dollars
The smackdown has been quick and violent.
If you noice in the past few weeks,
the compression of price ,
and the consecutive number of weekly closes above 2k.
Is the most it has ever been.
Are the Bankers ready to let it run...
since they seem to be pumping up all assets prices for the 2024 election.
I think the ramp up to 2.7k could be quite violent... do we get there by summer?
GC: Technical Analysis of Gold Futures (Daily)Gold is showing a strong bullish bias, confined within an ascending channel. While the price is nearing the channel's resistance, there is a potential for an upside breakout. A move above this level could propel the price towards the next resistance area, ranging from 2735.4 to 2744.5. However, as with any market, there is inherent uncertainty.
Key levels to watch:
Strong resistance: 2735.4 TO 2744.5
Potential weekly support: 2644
Stay updated: Financial markets are constantly changing, and your analysis should be regularly updated.
Let's discuss it! Please feel free to share your thoughts and ideas in the comments.
Please remember: This is just a sample, and you can just modify it to fit your specific needs.
I hope this analysis is helpful.
Thank you for your attention.
#goldfutures #technicalanalysis #tradingview #supportresistance #gold
COT Strategy - Gold ShortDISCLAIMER: This is not trade advice. This is for educational purposes only to demonstrate how I am looking to participate in this market. There is significant risk involved in trading, do your own homework and due diligence.
COT Strategy
SHORT
Gold (GC)
My COT strategy has me on alert for short trades in GC if we get a confirmed bearish change of trend on the Daily timeframe.
COT Commercial Index: Sell Signal
Valuation: Overvalued vs Treasuries
Extreme Positioning: Commercials most short they have been in last 3 years = bearish. Only thing that would be better is SS's making an extreme in long positioning, but no luck with that yet (but something I'm watching).
OI Analysis: OI has been increasing on up move since June. When OI increases, we need to ask "who caused the OI increase"? When it is caused by Large Specs & Small Specs, it is bearish. In the case of Gold, it is being caused by LS & SS's, which is bearish.
Spread: Bearishly diverging.
ADX: Diverging, implying the trend lacks integrity.
Supplementary Indicators: Acc/Dis , %R, Stochastic & Momentum (not yet triggered)
Remember, this is not a "Short Now" idea. These indicators are not timing tools. They simply tell us that this market could have a move of some significance to the downside, which we will participate in with a confirmed Daily trend change to the downside.
Good luck & good trading.
Gold Has Never Been More ValuableYou often hear about equity markets at all-time highs, and some of the excitement in crypto, but today I just have to showcase the recent move in gold.
Gold is at an all-time high today and remains the most valuable asset in the world by market cap. Here are some stats and facts:
Gold's Market Cap: Valued at over $12 trillion, gold is the most valuable asset in the world by market cap.
Central Bank Holdings: Central banks worldwide hold nearly 35,000 metric tons of gold in their reserves, including the U.S., China, and Russia.
Gold as a Safe Haven: During the 2008 financial crisis, gold outperformed most major asset classes, reaffirming its role as a safe haven.
I have more stats and facts to share, but just wanted to share this one to showcase the recent move higher.
GOLD TRIANGLE PATTERN - BREAKOUT!Gold Update (1-Day Timeframe) Chart Analysis
Bullish Indicators Identified: A triangle pattern is forming, signaling a potential breakout soon. This formation often results in a sharp move, with an expected gain of 1500-3000 points in the upward direction.
Key Levels: Buy above 75000 for a bullish breakout.
Target Levels:
First target: 75500
Second target: 76000
Third target: 76600
Stop-Loss (SL): 74450.
Breakout Confirmation: Stay alert for confirmation before entering the trade.
Risk Management: Always set a stop-loss to mitigate potential risks.
Disclaimer: This technical analysis is based on the provided data and should not be considered financial advice. Trading involves risk, and past performance is not indicative of future results.
IF THIS WILL HELP YOU, PLEASE LIKE THE POST ❤️
GOLD UPDATE | SEP 2nd - 4thGold Technical Analysis (1-Hour Timeframe)
Gold is currently forming an ascending triangle pattern, with strong resistance at 72,748.
A breakout above this resistance level could indicate further upside potential.
However we can plan our trade from the bottom 71700 towards the 72200
Keep an eye on this key level for potential trading opportunities. 📈
Don't Forget To Push The Boost (Like) Button and Follow Me for more !
Best Regards , Shalvi Sharma
GC - possible short during asian sessionDuring the Asian/European session, there is a possibility of price spiking higher to 2695-96 for a short opportunity. Also it may only go up to 2688, and then fall!!! I usually don't trade during the Asian session, as most of the time price doesn't respect the levels and there is not enough movements... Be careful there !!
Watch for a spike up between 8pm and 9pm CST... I may take a long term swing position..
2024-09-24 - priceactiontds - daily update - goldGood Evening and I hope you are well.
tl;dr
Gold - Bull channel from my weekly update was not steep enough. 2700 next. Only look for longs. Can’t stop, won’t stop.
comment: Gold broke above my drawn patterns, again. Unreal strength but not unexpected. In my weekly I wrote you should only look for longs. How high can this get? 2700 is almost a given at this point and big round numbers are always decent for a pullback or some stalling. Any long would need a stop 2645 as of now. Can wait for pullbacks to long this. last 10 days has 1 bear bar. Don’t try to be smarter than the market and short it. Although it’s becoming climactic and a pullback is expected, it can go further, so don’t pick tops.
current market cycle: bull trend
key levels: 2645 - 2700
bull case: Bulls in full control. New low would be below 2645 and that’s far away. I look for pullbacks near ema to long it.
Invalidation is below 2540.
bear case: Bears want a pullback but will probably have to wait for 2700 now. Best they currently get is to stall the market and make it go sideways. I expect this around 2700 next. There is absolutely no reason to look for shorts on this.
Invalidation is above 2710.
short term: Max bullishness.
medium-long term: 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 2650. There were 4 chances where market clearly showed support around that price. Don’t long the first touch of such levels but above the second is good.
GOLD Makes A Big Move Targeting $2720Even though my Gold Cycle Patterns suggested Gold would consolidate a bit in early trading this week, the big breakout move today shows just how undervalued Gold really is.
Yes, my Gold Cycle Patterns did not predict this upward price move clearly.
This is an example where my patterns/expectations did not match exactly what price did. it happens.
You could say my expectations were a bit behind the trend or the trend was a bit ahead of my expectations - but either way this move surprised me.
Clearly, gold is making a big move and my upper target is 2710-2720.
Today's move will likely stall out near 2685, then contract to levels near 2670-2675.
Remember, Gold really wants to rally up to 2710-2720+. So, you have quite a bit of time to play this move efficiently.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
GC - looking for a possible sell entryI am seeing some of the early breakdown started, but in very early stage and it might take couple of days to play out. I am very much interested interested in selling the GC at around 2665 to 2670 area. There is a chance it may spike up during European or early US session tomorrow. On the downside, 2632 area is a strong support and may hold up and bounce before price going down to 2610 area.
#202439 - priceactiontds - weekly update - goldGood Evening and I hope you are well.
tl;dr
gold: Bulls got a clean breakout but they need follow through on Monday/Tuesday. The current channel fit’s nicely but we only know market is respecting it when we see a pullback. If this breakout is strong, bulls would not let the market fall below 2600 again. A weaker trend would pull back to the daily ema around 2600 before continuing. As long as we hold above the daily ema there is a very good chance we will see 2700 next. Small chance this trend is accelerating and breaking above the drawn channel and we would see 3 strong legs up which could lead to 2800.
Quote from last week:
comment: Finally the breakout above and the 2600 print. All bullish targets are now met for me so no interest in buying this high. I think the odds that bulls break above the wedge and start a new bull rally are very low and much more likely is a trap over the next 1-5 days and then a reversal down to at least 2540. That’s all I have to write about this right now.
comment: I always think about wrong outlooks much more than about right ones. In this case, was the “no interest in buying this high“ the right call here and I would come to a yes in every scenario. Of course it was wrong and market made another 50 points but risk reward was so off, not taking it was the right move for me. Anyhow. Bulls confirmed another bullish structure and we have a bull wedge inside a very bullish channel upwards.
current market cycle: Bull trend
key levels: 2570 - 2700
bull case : Bulls had the fastest and most shallow two legged pullback there is on Tuesday/Wednesday and continued with max bullishness for 2650. By now every bear has given up and we will truly find out how high this can go over the next months. As of now my preferred pattern is the bull channel and since we are at the highs, bulls would need another strong bar like Friday to break above it. Can they get it? Absolutely. Am I betting on it? No.
Invalidation is below 2570.
bear case: No idea where and how strong they come around. Will most likely be more bulls taking profits rather than strong selling. Lower bull trend line is 50 points lower and I doubt we hit it on Monday. Buying 2640 is a bad trade and bears know it but I rather wait and see where we go. On the 1h tf we have not traded below it since Thursday’s Globex session. Currently very hard for bears to make money so make your life easier and look for longs.
Invalidation is above 2660.
outlook last week:
short term: Neutral. I need to see bear strength before selling this. No interest in longs above 2600.
→ Last Sunday we traded 2610 and now we are at 2646. Meh outlook because bulls were much stronger and broke above again but I also advised against shorts until bears come around. They did not.
short term: Neutral. I won’t be buying 2646. Need a pullback.
medium-long term: 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.
chart update: Added bull wedge.
