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Weekly Forex Forecast: GOLD & SILVER Are Bearish! SELL Them!This forecast is for the week of DEC. 16 - 20th. Gold and Silver are both bearish, after raiding the buy side liquidity. Silver is "heavier" than GOLD, so it would be my preferred asset to sell! There is support for lower prices, and no real support for higher prices currently. Seems like a no brainer. Wait for a pullback to the -FVG and look for a proper sell setup, my friends. Check the comments section below for updates regarding this analysis throughout the week. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
COMEX_MINI:SIL1!Short
by RT_Money
2024-12-19 - priceactiontds - daily update - goldGood Evening and I hope you are well. tl;dr gold - Bearish. I doubt we can close the week below 2560 but we now have a giant bear gap between 2615 - 2652. No interested in selling this tomorrow but if we close the week below 2600, the bull trend is gone for good. comment : No matter what you think China is doing with Gold, this market is going down. We are 200 points below the ath and the bull trend is most likely over. If we close this week below 2630, it would be the second close below the weekly 20ema since January. current market cycle: trading range key levels: 2590 - 2640 bull case : Bulls are in pain. Every rip is sold hard and we have a clear bear channel. Hard to come up with arguments for the bulls right now. Best they can hope for is to stay above 2600 but this market is as weak as it gets since last week. Invalidation is below 2595. bear case: 2566 is their main target and I am not confident they can get it tomorrow. I expect more chop near 2600 over the next 2 weeks but for Q1 I have wet dreams about 2400. If you want to trade this, look for shorts near the 3h or 4h 20ema and longs only if 2600 continues to be bigger support. Invalidation is above 2642. short term: Neutral. I don’t expect this to go into the weekend far from 2600 but for next 2 weeks I have 2 measured move targets below 2570. medium-long term - Update from 2024-12-19: No bigger opinion on this for the rest of 2024. Market is in balance until we see a new impulse. Likely close around 2600. current swing trade: None trade of the day: selling near the 4h 20ema or bear trend line.
COMEX_MINI:MGC1!
by priceactiontds
Gold - Starting A Major -25% Correction!Gold ( TVC:GOLD ) is starting to reject resistance: Click chart above to see the detailed analysis👆🏻 After rallying an incredible +35% during 2024, Gold is now (finally) starting to show some expected weakness at a major resistance trendline. Following this quite significant overextension, it is quite likely that we will see at least a short term bearish correction now. Levels to watch: $2.700, $2.000 Keep your long term vision, Philip (BasicTrading)
TVC:GOLDShort
by basictradingtv
8
Could the Silver rise from here?The price is reacting off the support level which is an overlap support that lines up with the 127.2% Fibonacci extension and could rise from this level to our take profit. Entry: 28.78 Why we like it: There is an overlap support level that lines up with the 127.2% Fibonacci extension. Stop loss: 27.71 Why we like it: There is a pullback support level. Take profit: 29.83 Why we like it: There is a pullback resistance. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAGUSDLong
by VantageMarkets
1
Bearish drop?XAU/USD is rising towards the resistance level which is an overlap resistance that aligns with the 23.6% Fibonacci retracement and could drop from this level to our take profit. Entry: 2,647.58 Why we like it: There is an overlap resistance level that aligns with the 23.6% Fibonacci retracement. Stop loss: 2,649.06 Why we like it: There is a pullback resistance level that lines up with the 50% Fibonacci retracement. Take profit: 2,562.07 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAUUSDShort
by VantageMarkets
Gold Market Update:Corective Phase Set Stage for Further DeclineGold has entered a corrective phase following yesterday's substantial decline, with price action consolidating within a defined range. This period of consolidation is expected to persist, allowing the market to recalibrate before the prevailing bearish momentum likely resumes. Downside targets remain intact, with the next leg lower anticipated once the correction concludes. Engage with this analysis by liking, sharing, or sharing your perspectives in the comments below.
OANDA:XAUUSDShort
by FXKAMRAN8
1
GOLD ROUTE MAP UPDATEHey Everyone, What can I say...we totally smashed the pips today !!! Our chart idea and levels were respected perfectly allowing us to track the movement down with ema5 cross and lock confirmations on our weighted levels, giving us the bounces. The break from the retracement range opened and completed the swing range, which did exactly what it says on the tin giving us the full swing, which we were able to catch for a clean 280pips!! The beauty of our strategy to buy dips from our weighted levels allows us to catch pips regardless which way the market goes. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2666 EMA5 CROSS AND LOCK ABOVE 2666 WILL OPEN THE FOLLOWING BULLISH TARGET 2682 EMA5 CROSS AND LOCK ABOVE 2682 WILL OPEN THE FOLLOWING BULLISH TARGET 2697 EMA5 CROSS AND LOCK ABOVE 2697 WILL OPEN THE FOLLOWING BULLISH TARGET 2719 BEARISH TARGETS 2645 - DONE EMA5 CROSS AND LOCK BELOW 2645 WILL OPEN THE FOLLOWING BEARISH TARGET 2628 - DONE EMA5 CROSS AND LOCK BELOW 2628 WILL OPEN THE SWING RANGE SWING RANGE 2606 - 2586 - DONE As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
13
XAU/USD 14.12.2024OANDA:XAUUSD Hello traders, after we broke my last wave 4, I reinterpreted my chart view. Essentially, my second plan is now in effect. For now, we have a big (a)(b)(c) setup, within which we see a 12345 count. Currently, we are in waves 1 to 2. Wave 1 is structured as an abc correction, which itself follows an abc structure. Within the corrective wave b to c, we can also count a 12345 wave setup. Take profit for the sellers would align with the blue Fibonacci extension levels. The 100% extension (the first target) doesn't look very promising to me. It is near the 61% (orange) Fibonacci level but feels too far away. We might observe some bullish momentum there, but likely not enough. The 161% Fibonacci extension (blue), however, aligns almost exactly with the 78% Fibonacci level. If the price reaches this depth, we will likely see many traders closing their sell positions and others opening buy positions. This could generate enough momentum to create a new minor wave 1, which could then evolve into a 12345 setup for our (orange) wave (3). This is one potential scenario, but we need to observe what happens next week. If we see an impulsive move to the upside from another level, I will look for a new wave 1 and then search for higher highs. Wishing you the best of luck!
OANDA:XAUUSDLong
by NeptenFX
1
XAU/USD 17.12.24OANDA:XAUUSD Hello Traders, For the upcoming week, my Elliott Wave analysis suggests higher prices. Three days ago, I shared my long-term chart projection. Now, I’ve broken it down into the minor timeframes to refine the best entry points for my strategy. If you're curious about the current wave we're in, feel free to check out my previous post: Currently, I anticipate the formation of the green Wave 1 to 2 over the next few days, with Wave 2 potentially reaching its bottom soon. We're observing a significant ABC correction. Within the larger Wave B to C, we’ve formed another perfect AB correction, which now appears to consist of a probable 1-2-3-4-5 wave structure. Today, the smaller Wave 3 hit our Fibonacci extension levels perfectly, as shown in the chart. At the moment, we’re experiencing a pullback in Wave 4, which I hope will lead to the completion of Wave 5 tomorrow. This would mark the end of the correction for the green Wave 1 to 2. A smart entry point would be around the 78.6% Fibonacci level, which also serves as a take-profit level at the 100% Fibonacci extension of the seller. This zone will be very volatile. If we gather enough momentum to establish a new Wave 1, we can definitely expect higher prices. Stay focused on the 2630 level, and good luck! If you like my idea, I’d really appreciate some likes and feedback
OANDA:XAUUSDLong
by NeptenFX
GOLD → Interest rates are down, but why is gold falling?FX:XAUUSD falls to 2581. Yesterday's news had a negative impact on the market and it's not about rate cuts. Technically the price confirms the bearish nature of the market. The main reason for the decline in gold prices is the Federal Reserve's caution about lowering interest rates amid the latest economic data. The US central bank lowered the interest rate by 0.25% to the range of 4.25%-4.50% as expected, but for the next year it forecasts 2 rate cuts, which is much less than expected. The Fed's hawkishness has played its role: the dollar is rising, markets are falling. Today all eyes are on GDP and initial jobless claims. Technically, the price is out of the global channel, breaking the support, gold updates the low to 2581. Resistance levels: 2620, 2630, 2636 Support levels: 2616, 2612, 2603 After updating the low, a retest of the previously broken channel boundary and imbalance zones is formed. False breakdown of key resistance, for example 2620 or 2630 and subsequent consolidation of the price below these zones may lead to further decline. Regards R. Linda!
FX:XAUUSDShort
by RLinda
10
SPY/QQQ Plan Your Trade For 12-19 : Top PatternToday, we should expect the SPY/QQQ to move a bit higher - trying to form a short-term top before price rolls downward again. I urge traders to stay very cautious of early trending and look for a bigger opportunity later in the day as price rolls downward. Gold and Silver are struggling. I still believe Gold and Silver will rally higher as fear elevates. But right now - that is not happening. I need to see Gold and Silver move away from this panic selling before I can become move convinced of a trend. Stay cautious if you are trying to trade Gold and Silver right now. Bitcoin is moving through an EPP pattern very cleanly - actually a DUAL EPP pattern. $95-$99k should be the downside price target throughout this move. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
Gold Drops $65 as Bearish Momentum Dominates Post-Fed DecisionGold Technical Analysis Gold prices dropped approximately $65 yesterday following the Federal Reserve's rate decision. The market continues to exhibit bearish momentum as long as it trades below 2623 and 2612, targeting 2585. A break below 2585, confirmed by a 1-hour or 4-hour candle close, could push the price further down to 2558. The gold market is expected to remain volatile, with the upcoming GDP report playing a crucial role: If GDP comes in below the expected 2.8%, this could support a bullish move. If GDP exceeds 2.8%, this could reinforce the bearish trend. Key Levels Pivot Point: 2612 Resistance Levels: 2623, 2638, 2653 Support Levels: 2585, 2572, 2558 Trend Outlook Bearish below 2623 and 2612 Bullish above 2623
OANDA:XAUUSDShort
by SroshMayi
Gold - TRIO RETEST!Dear TradingView community and fellow traders, I find the daily chart for Gold to be interesting as it appears to be forming one of my favorite patterns. What I call TRIO RETEST Here is why the blue circle is a strong zone to keep an eye on: 1️⃣ => Overall Trend Gold has been bullish long-term trading inside the rising broadening wedge in blue and now approaching the lower blue bound / trendline acting as a non-horizontal support. 2️⃣ => Round Number The $2,500 marked in green is a strong round number. 3️⃣ => Oversold Zone Gold is bearish short-term trading inside the falling channel in red and now approaching the lower red trendline which I consider an oversold zone. As per my trading style: As Gold approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break, and so on...) 📚 Hope you find this post useful. It's important to always adhere to your trading plan, including entry points, risk management strategies, and trade management techniques. All Strategies Are Good; If Managed Properly! ~Richard Disclaimer: The information provided is for educational and informational purposes only and should not be considered as financial advice. It is important to do your own research and make informed decisions before entering any trades. Past performance is not indicative of future results. Always be aware of the potential for losses, and never risk more than you can afford to lose.
OANDA:XAUUSDLong
by TheSignalyst
3
THE KOG REPORT - FOMC THE KOG REPORT – FOMC This is our view for FOMC, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive swings in price. For this FOMC we have the following key levels which need to be monitored and can be used for potential spikes. 2630-25 support, which is too close to target from here could give us that push upside into the higher levels of 2650-55 and above that 2660-65. It’s that higher region we will want to be watching closely for a potential RIP and opportunity to then short back down as shown on the chart. Immediate levels are no good to us here if there is exaggerated volume in the markets on the release, or the press conference 30mins after. On the flip, if we continue the move downside breaking through the 2630 level we will be looking lower, 2610 as the point of interest but the extension of the move into the 2590-95 region is where we will want to be to waiting for the RIP and potential opportunities to then long back up. Simple one this time, if we don’t get the levels, we want we’ll stay out of it and come back tomorrow to look for a decent set up. Our bias target at 2667 still remains so please play caution. RED BOXES: Break above 2640 for 2650, 2660 and above that 2668 Break below 2625 for 2610, 2596 Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
8