$Gold [Intraday]New gold breakout! bearish.
(*During the time I was publishing this idea the breakout already took place).
QO1! trade ideas
Can the HOUSE Capitalize SHORT from 78.5-88.6% Daily Fib levels?COMEX:GC1!
“The highest human act is to inspire.” - Nip Hussle Tha Great
Family as we get ready for this new week, I must say this month has been a gr8t one. We accomplished so many goals and now it's time to get back focused on the task in front of us. I have developed here an idea to possibly go SHORT & in this video I went into gr8t detail supporting my original statement/idea....
1) I want to see the Mitigation of the 4Hr Supply zone and possibly the deeper 1Hr TF Supply Zone inside which lines up perfectly with 88.6% Daily Fib Level ($2423.0). If we can get buyers to push price to these levels then I'll drop down to the LTF 15m and wait for a confirmed 15m CHoCh to Scale SHORT. Let's stay focused and see what happens in pricing....
2) I'll keep close update as PA develops and we have more data to work with.
Remember when it comes to FRM (Financial Risk Management) our job is to manage the downside costs of printing High side returns of $$$ consistently. Let's Keep Steppn!!
Stay Focused & Reach Excellence!!
#BHM500K #NewERA #Champions
Can the HOUSE Capitalize SHORT from 78.5-88.6% Daily Fib levels?COMEX:GC1!
“The highest human act is to inspire.” - Nip Hussle Tha Great
Family as we get ready for this new week, I must say this month has been a gr8t one. We accomplished so many goals and now it's time to get back focused on the task in front of us. I have developed here an idea to possibly go SHORT & in this video I went into gr8t detail supporting my original statement/idea....
1) On the Daily TF I have drawn out the PIVOT ZONE that price has traded back into currently. Also I have drawn the Daily Last Swing LOW & HIGH and the Daily Swing EQ level that price is currently trading around ($2396.5)...
2) On the 4Hr TF we Have a Huge Indecision candle that needs to be mitigated in which lines up perfectly with the Daily 78.5-88.6% Fib levels. These are the Key Levels that I want to see price hit....
3) If and when price can Mitigate the 4Hr Supply I want to see buyers push price higher into the 1Hr Supply zone pricing ($2423.0) just above the Killzone 78.5% Fib Level and into the 88.6% Level.... This is the Key level I will wait for price to mitigate, then I will drop down to the LTF 15m and wait for a confirmed 15m CHoCh (Change of Character) and look to scale SHORT!!!
4) I'll keep close update as PA develops and we have more data to work with.
Remember when it comes to FRM (Financial Risk Management) our job is to manage the downside costs of printing High side returns of $$$ consistently. Let's Keep Steppn!!
Stay Focused & Reach Excellence!!
#BHM500K #NewERA #Champions
Gold swing trading ideas, with a new look at futures sentimentWe take a multi timeframe approach for today's gold analysis video. Taking into account COT data from the weekly chart, support levels on the daily and four-hour charts, we outline our rationale as to why gold could hit new lows after an expected bounce.
MS.
GOLD Plan Your Trade 7-31 - Gold Reaches Upper Flag ChannelPrepare for Gold to move into a consolidation phase lasting 5 to 10 days before moving higher again.
The next upper target area is $2560++.
Watch this video and consider what I see as a structural Flag formation.
Gold will continue to attempt to move higher - but it will do so in structural price waves.
If you are holding any open long positions, be prepared to protect those positions as I see Gold flagging sideways (attempting to contract downward) in about 2~3 days.
The current upward price move appears to be over.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Gold Futures has taken support of near 50Weeks EMA (Mother line)Gold Futures has taken support of near 50 Weeks EMA (Mother line) which is near 66402. This dip was due to change in customs duty of Gold while thinking rationally. Thus the zone between 67400 and 66402 presents a strong support zone. Mid channel support for gold Futures in case the Mother line is broken remains at mid channel support near 64030. It does not seem likely that we will get a closing below this point but in case we get a closing below 64030 bears will become very empowered and in very unlikely situation Gold futures can fall to 61092. The zone between 56493 and 55091 is a mega support as 55901 is a 200 Week's EMA or Father line. Below this zone in extremely unlikely situation Gold Futures can further find a bottom near channel bottom which is near 53064.
Resistances for Gold Futures are near the zone between 69678 and 71222. Further resistance zone is between 73257 and 74881. If the channel top near 75K is broken the Gold Futures in the very long term can hit anywhere between 82K to 88K.
In my opinion which has a strong bias towards Gold as world is seeing a lot of conflicts and uncertainties due to internal and external geo-political instability, Gold remains an investment option which is accumulate on every dip. Gold actual price and Gold futures price and Price of Gold sold by Jewellers can vary a little bit so please take that into consideration too. The chart here represents Gold Futures movement.
To know more about Mother Father line and their significance and to learn Techno Funda analysis we recommend you read the book The Happy Candles Way. Which is available on Amazon on paperback version. Kindle version of the same book is also available on Amazon Kindle.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
2024-07-30 - priceactiontds - daily update - goldGood Evening and I hope you are well.
comment: Gold had a huge bull day and my line in the sand for bears was 2436. Market now broke above it 2 times and the buying into US close was strong enough for a second leg which could bring us above 2480 again. Still a trading range on the daily chart and anything above 2300 is good for the bulls. Probably another try at printing 2500 over the next days.
current market cycle: trading range
key levels: 2300 - 2500
bull case: Bulls want a new ath and all the stops too close above it. 2500 would be a nice round number to reach. After that I don’t have anything for the bulls. It’s a trading range since April and such big trading ranges happen before the final flag and this one here is probably it. I would not bet on another strong bull trend above 2500.
Above was written last week and is valid as ever. Bulls do not want to drop below the 1h 20ema again or the chop continues. They want the momentum continuing and another strong break above 2460 for the second leg up.
Invalidation is below 2440.
bear case: Bears tried to keep it below 2440 but market made higher lows and on the strong buying at bar 13, they stepped aside enough to let the market rip into US close. I don’t think many bears want to battle between 2450 and 2480, so I expect this becoming a quick move up before they see value in shorting again. Below 2440 I am wrong and bears showing strength again.
Invalidation is above 2460.
short term: Bullish af again. Want to see a proper channel form, that we can grind to 2480 or 2500.
medium-long term: For now I think the most reasonable outlook I could give is a trading range 2200-2500. This could hold for some time. Bear in my still thinks this rally is dumb and we will see 2000 again this year but that’s as unreasonable of an outlook one could hold so DON’T. —adjusted 2450 to 2500
current swing trade: None
trade of the day: Tricky. Bar 10 was strong enough to expect more upside but the pullback afterwards on bar 11+12 was deep enough to trap many traders out. Bar 13 was the long to be in while it formed but tricky in any case.
Three Reasons Gold Failed at Record HighsGold (December) / Silver (September)
Gold, last week’s close: Settled at 2427.9, up 28.0 on Friday and down 18.9 on the week
Silver, last week’s close: Settled at 28.02, up 0.045 on Friday and down 1.279 on the week
Gold and Silver futures are working back from last week’s beatdown. We believe the continued weakness is a near-term phenomenon and the result of three factors. Weakness is closely correlated to volatility associated with an unwind of the Japanese Yen carry trade. Also, the communist party of China prioritized quality growth over stimulated growth. With China’s economic growth trajectory deteriorating, the country is essentially exporting deflation. Lastly, speculative positioning in Gold became overzealous and a move off record highs created a liquidation event.
December Gold futures are now front month, and strength overnight tested major three-star resistance, aligning with a .382 retracement from last week’s low back to the prior week’s all-time high at 2451.5. We will be looking for balance at 2436.7 in order to hold a constructive session. Silver certainly lagged in its strength Sunday night and continues to struggle against key resistance at 28.28-28.34.
Bias: Neutral/Bullish
Resistance: 2451.5***, 2464-2468***
Pivot: 2436.7
Support: 2427.9-2430.5***
Silver (Sept)
Resistance: 28.28-28.34**, 28.90-29.06****
Pivot: 28.10
Support: 28.04**, 27.91-27.95**, 27.75**, 27.54**, 27.33-27.40**, 26.61-26.98****
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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.
Gold, Bearish on weekly chartIt is 17 weeks that the gold is trying to break the $2400 USD, but it is unable to do so. in technical terms we can see a clear stop hunt and moving in a side zone which looks like a distribution phase.
on fundamental side, due the uncertainties related to US presidency election and The Middle East critical situation i think the price will drop in next weeks.
Navigating the Gold Market: Key Levels and Upcoming EventsIn this insightful analysis, I share my outlook on the gold market, highlighting critical levels to watch. I'm bullish on gold above the 2,327 level and bearish below it. Currently, gold is holding support at a key demand level, but a breach of this support could turn it into resistance.
This week is packed with significant news, including the Non-Farm Payroll (NFP) report and FOMC meetings, which could impact market movements. Monday is the only quiet day without major news events. Stay informed to navigate the market effectively.
#202431 - priceactiontds - weekly update - gold futuresGood Evening and I hope you are well.
Quote from last week:
bear case: Bears made another amazing trade selling above 2440 and since this was the third time, they are confident they can push the market lower to at least 2300 again. The selling was strong enough for a second leg and right now a measured move would bring us exactly to 2300. Coincidences huh. Every time someone tells you technical analysis does not work, just nod and make money. It’s not worth the discussion.
comment: Bears got their second leg down and the buying has been lackluster at best. Leaning heavily bearish until bulls trade strongly above the daily 20ema again. It’s a tight channel down and already much stronger than the previous sell offs from > 2400. As long as the channel holds, I’m full bear. No deeper analysis needed.
current market cycle: trading range on the daily chart but small bear trend inside, which could bring us to 2300.
key levels: 2300 - 2488
bull case: Bulls are very weak. The pullbacks they printed so far were doji’s and inside bars. Until they can print a big bull bar closing on it’s high, they have no reasonable arguments for a reversal. 2300 is much more likely than a strong breakout above the bear channel. Expecting more buyers to step in around 2300/2310.
Invalidation is below 2290.
bear case: Increased volume on the sell off and every rip is sold. Play the channel as long as it holds, bears have every argument on their side. The odds that we break below 2300 this time are decent, since market now tried 3 times to hit 2500 and market will only try one thing so many times until it does the opposite.
Invalidation is above 2436.
outlook last week:
“ short term: Full bear mode if we close below 2360 over the next 1-2 days. At least down to 2300 but decent chance we drop lower this time and start a new bear trend.”
→ Last Sunday we traded 2399 and now we are at 2381. Low of the week was 2352, outlook was good for 47.
short term: Full bear mode continues as long as the bear channel holds. Look for shorts near the top and take profits at new lows.
medium-long term: For now I think the most reasonable outlook I could give is a trading range 2200-2500. This could hold for some time. Bear in my still thinks this rally is moronic and we will see 2000 again this year but that’s as unreasonable of an outlook one could hold so don’t. —unchanged since May
current swing trade: None. Will short on weakness on Monday.
chart update: Added bear channel.
Bitcoin vs Gold Cup & HandleBitcoin weekly chart vs gold monthly chart, cup and handle edition. Gold broke out of it's handle this year, waiting to see if Bitcoin does the same as the fundamentals continue to strengthen.
As of the Bitcoin Conference this past week we now have legislation announced that would create a strategic Bitcoin reserve here in the US, and Trump and Kennedy vowing to hold Bitcoin as a reserve asset if elected and end the current government policy of selling seized Bitcoin. Harris is also switching to pro-crypto after the Biden administration has been actively anti-crypto during this term.
Keep buying Bitcoin.
GOLD: 21 JUL, 2024© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M (Master's Designation).
Forecast: Bearish
Where are we in Elliott wave analysis? The left-hand chart shows that we are inside the third wave (labeled wave 4-grey). It will basically drop lower in the near term, and after it ends, we will try to look for the 4th wave.
(1D Chart): The broader context suggests that wave ((v))-navy may have peaked, completing the entire wave 3-grey. Consequently, wave 4-grey is unfolding to push lower. It might reach as low as 2,304.7 or even lower.
I haven't concluded whether wave ((v))-navy has fully ended or if it's just the first wave of the entire wave ((v))-navy, but the current decline is quite necessary.
A series of accurate forecasts with gold have been effective, so this is a time when I need more evidence to make further conclusions.
(4H Chart): Since the high of 2,488.4, a five-wave pattern is unfolding to push lower, with wave iii-grey currently active. Whether it will continue to push down or if it is over is not as important as the fact that wave iv-grey is about to open up and push a little higher. After wave iv-grey ends, wave v-grey may return to continue pushing lower.
GOLD Cycle Patterns - Get Ready - Rally - Rally - RallyThis short video shows how my GOLD Cycle Patterns are set up for a broad upward price move in Gold/Silver over the next 5+ trading days.
If you've been following my Plan Your Trade videos (for the SPY/QQQ), you'll probably love these Gold Cycle Patterns and my metals research.
Some people continue to comment that my research is "Spot On". I tend to agree, but remember, these patterns are only about 80% accurate over 12 months.
Still, there is nothing else like these SPY/GOLD Cycle Patterns that provide clear/actionable trading signals/insights 2~3 weeks into the future.
Check it out... Get ready for Gold to target $2550+ over the next 5+ trading days.
Get Some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
GOLD MCX Analysis#GOLDMCX has broken the black bull flag to the downside but is still within a blue uptrend channel.
The Indian government has proposed a reduction in customs duty on gold and silver from 10% to 6%. This initiative, part of the Union Budget 2024, aims to make gold more affordable domestically, potentially boosting the jewelry sector.
I am considering buying near the support level at 66600-500, followed by strong support at 63500.
Can the HOUSE CAPITALIZE LONG during today's NY Session...?COMEX:GC1!
"The One Most Adaptable to Change is the One that Survives." -Charles Darwin
Last night as I was monitoring my assets I noticed here on GOLD that sellers have created this Descending iR/LQ Trendline on the LTF's 1Hr N below that needed to be swept.... Now that buyers have swept that liquidity during last night's London Session. I have now set my limit for NY session to go LONG. I want to see the retest of Major Key Level $2,400.00 as my Key entry and then target the unmitigated 1Hr Supply zone above.
1) I'll keep close update as PA develops and we have more data to work with.
Remember when it comes to FRM (Financial Risk Management) our job is to manage the downside costs of printing High side returns of $$$ consistently. Let's Keep Steppn!!
Stay Focused & Reach Excellence!!
#BHM500K #NewERA #Champions
GOLD: Time to shine bright?- The chart is self-explanatory as always
- Gold is at the ATH with a strong Bullish candle
- A breakout will do the trick
- Bank of America has given a target of $3000 for 2025
- Yesterday, Gold flew high in the US.
- The rising uncertainty in the world is another impetus.
Thoughts???
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
