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GOLDM1! trade ideas

Gold is about to skyrocket according to EWTI am beginning to post on my updated/new coverage list. The first of which will be gold futures. As you may notice, this is the monthly chart. In my last Rivian post I mentioned that I start at the VERY beginning of the chart or as far back as TV has data. I wasn't blowing smoke as I believe this is the only way to ensure you don't get off in the count. Looking at the chart, you can tell I am counting this as an impulsive structure and we're in one of the most explosive parts of the long-term count. Looking at the economy, it's obvious it is going to do horribly next year. Anyone who says different is kidding themselves. This recession the fed has been trying to put off, IMHO, is about to rear its very ugly head. This doesn't mean every single stock is going to crash. Every chart stands on their own and should be looked at separately without bias or you WILL be wrong at some point. Normally when the economy is doing bad people flock to precious metals such as gold. This fares well with my outlook on the economy and the count I have applied to this chart. If the economy does tank, then I bet gold skyrockets hitting my next target box. I know it is a huge box, but zooming all the way out to the monthly time frame shows us data from 1975 until today. That's almost 50 years' worth of structure/data. I mean the cycle wave I took over 4 years to complete and grew by 773% ending at the 4.236 fib! Thats some insane extensions!! I plan on slowly rolling out this coverage list and will post a weekly and/or daily chart next, followed by the 4HR & 1HR charts, if not this week, then I will next week. With the holidays coming, I along with all of you, will be spending time with family and won't be as available. This zoomed out monthly view should give you all a better understanding on how to start these charts though, and also give a long-term multi-decade thesis on where price action will take us. Bonam Fortunam, --Tyler
COMEX:GC1!Long
by TSuth
6
Gold: Bearish Dominance 🐻The bears are currently not giving up control of the gold price and have caused strong sell-offs. Nevertheless, we primarily see this as part of the substructure of the turquoise wave B and expect the rally to continue soon. However, for this scenario to remain in tact, the reversal must take place above the support at $1935. Should this level be broken, the alternative with a probability of 40% would come into play, which sees the price already in a descent.
COMEX:GC1!Long
by MarketIntel
Bitcoin12.12.23 Bitcoin came to a reversal area Using the tools that we use. Yesterday it corrected a little bit lower and I was looking at it to see if I could be a buyer or a seller. I have to decide if this is the beginning of a move that will go lower or if yesterday was just some profit taking and today the market will be moving higher. Every time I look for a trade location, Whether I am actually in a trade or about to take a trade... I spend a lot of time trying to decide the probability that the market will move in the direction that fits my trade. I do want a trade that has good rage to it if it is moving in my direction but first and foremost, in addition to having a small stop... I want the market to move in the direction of my entry price. this is an important issue for me. Near the end of the video I brought out the Gold chart which is probably going higher today. The previous day I thought the probability was that the market would move lower and it did but not as much as I thought it would... but it moved about $2,000 lower. When I was thinking through that trade on the video I had the belief that I'd be able to buy that market once it goes a little bit lower. On the day that I thought the market was going lower it went lower by $3,000... the opening price today looks like it's going to go higher from yesterday's close. If you're not used to trading these markets and you're not careful on your trade location and determining the direction.... you can get hurt. Ask yourself what you would do if you had two $3,000 trades....But you were on the wrong side of the market and you ended up losing four or $5,000 on those two trades. Every decision has a consequence. My decision never rests on volume, or a crossing moving average, or any oscillator,,, but that means I have to think about it.... and as we all know, Sometimes the decisions are easier to make. It's probably best to wait for that time well there will be clarity... and you will know what that is after you work with it for a while. Keep the losses small, Trade less and if you're a buyer know where the sellers are, and if you are a seller know where the buyers are. oscillators don't tell you that.
COMEX:GC1!
by ScottBogatin
Gold short12.11.23 I was looking at the gold chart tonight and it's about 2:00 am in the morning and it looks like gold is going lower. So I try to analyze it as a buyer and a seller to determine what my target should be and what my stops should be. It's a little bit of a pain in the neck and that's because this is a contracted market and they're very difficult to trade. on the other hand buyers do not control this market... henceforth the video was probably 5 to 10 minutes longer than it needed to be... and yet I think it'll probably trade lower. The importance of noticing contraction of a market... and non-volatile price action is that you can pin the problem on the market because contracted markets are always tougher to trade... unless you take a trade and then this might be your problem. volatile markets are easier to trade the non-volatable markets. If you believe differently, you might want to rethink that.
COMEX:GC1!
by ScottBogatin
I Love $GC!Ever since the outbreak of the Middle East war, this gold market has been unrestrained. It appears to have returned to the order block, approximately at the 0.382 retracement, in an attempt to rally further. But does it have enough momentum? Bull Case - Of course! As soon as we break through the order block, we should be heading towards the 2025 to 2050 mark. The key is to close above the 2008 level, which would pave the way for significant gains. Bear Case - The 2008 level represents a resistance point, reinforcing my bearish prediction of a double top. This bullish optimism could lead to liquidation once the pattern consolidates and rebalances the candle in October. The critical point to watch is whether we break below the 1987 level. Conclusion - The end of this consolidation phase will reveal the prevailing trend. Having averted a death cross and rebounding, it’s fascinating to consider whether the 2008 level can be sustained. If not, the bullish order block might be put to the test.
COMEX:GC1!
by JDTheGreat
Gold12.7.23I wanted to show a few trade locations that may not be intuitive to some traders. obviously any opinion I have reflects my bias... so the best we can do is decide if the market will go in a direction but I think it is Going. When I do the videos there's always a time lag...And I can't do anything about that. This is why I try to articulate what I'm looking for when I don't have the desire or the time to get online and do videos. I think one of the biggest problems the traders have and this was a very big problem for the beginning years of trading for me, Is that I didn't know how to read the market and I miscalculated the market based on my biases because my opinions weren't objective or I wouldn't have lost so much. People lose money because they don't see what's going on with the market and they don't do anything about it. You enter the trade and you have to exit to trade and that's all your responsibility. My strategy is to have small stops and trade in the direction of high probability so that I don't get stopped out right away.
COMEX:GC1!
by ScottBogatin
If it is 1.2 and 1.2? Sharp corrective patternHello there! I am a big fan of the Elliott Wave Principle, which is very interesting and useful for analyzing the market. I have developed my analytical approach by combining the principle with my personal experience and considering various scenarios that may occur in the market. Although I want to share my analysis with you, I want to emphasize that I do not provide buy or sell signals. My main intention is to share my unbiased analysis so that you can use it as a guide to make informed decisions. To build your confidence in my analysis, I always share my previous analysis of the same market so that you can compare and see the progress. All the details of my analysis are clearly labeled, which should make it easy for you to understand. I hope that my analysis will be helpful in your trading journey and wish you all the best. Sincerely,
COMEX:GC1!Long
by mehdi47abbasi79
Before Gold move to new fresh zone.From the chart, it can be seen that gold will move within a zone and needs to transition to new zones. It will need to move at a rate greater than 20% in the early stages and will continue to move within that zone until new factors come into play to facilitate further movement. My criteria zone 0, 500, 1000,1500,2000, Example zone 1: 1000- 1500 zone 2: 1500 - 2000 zone 3: 1000 - 1500 zone 4: 1500 - 2000 zone 5? Currently, the closing price is above the closing price of gold in the past and is consolidating downward. If it can hold within this zone, it may be able to move further by about 20% and maintain its condition in this zone until new factors emerge.
COMEX:GC1!Long
by theoris