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Commoditysignals

GOLD down almost 8% from the top. Will the 0.618 Fib hold?The Gold market didn't take the Fed news lightly as the announcement of two rate hikes by the end of 2023 wasn't exactly ideal for Gold, which is used as an inflation hedge. Technically the -8% fall has so far stopped on the 0.618 Fibonacci retracement level (1768). Its attempt to rebound though today faced considerable Resistance on the 0.5 Fib (1797)and got rejected. A similar sequence was last seen in mid April - early May when Gold was consolidating within the 0.5 - 0.618 Fibonacci range before breaking higher, making this a High Volatility Zone. Can this pattern replicated? What's important though is that a daily candle closing above the 0.5 Fib should be a bullish break-out signal towards the 0.236 Fib and the Lower Highs trend-line, while a close below the 0.618 Fib, a call for further weakness towards the 0.786 Fib where it may make contact with the 1W MA100 (red trend-line). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> mused_Aurorah --------------------------------------------------------------------------------------------------------
OANDA:XAUUSD
by TradingShot
3
WTI OIL overbought stillPattern: Channel Up on 1D. Signal: Buy once the price breaks below the 1D MA50 again (blue trend-line). Target: 76.00 (closer to the top of the inner Channel). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> mused_Aurorah --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
1
XAUUSD will form a 1D Golden Cross after the Fed. What's next?Gold investors are looking forward to 2 key developments this week: The (fundamental) Fed Interest Rate Decision on Wednesday and the (technical) Golden Cross on the 1D time-frame, which may either be formed on Friday or by next Tuesday. With the latest news from the Fed's side pointing to no change in their economic outlook over inflation, maintaining their intention of keeping the rates low, this continues to build a strong case for Gold as a counter-inflation investment. The Golden Cross on the other hand is a technical formation that happens when the MA50 (blue trend-line) crosses above the MA200 (orange trend-line), shifting the sentiment from long-term bearish to long-term bullish. The last Death Cross (the opposite of the Golden Cross) on the 1D time-frame was formed on February 15 and it marked the top at the time as after a short rebound, Gold plunged -8%. As you see, I'm approaching the long-term price action since the August Market Top (All Time High) as a symmetrical sequence. Even though the uptrend of the past 2.5 months isn't a copy-past of the August 06, 2020- March 08, 2021 down trend (how could it after all), the two are fairly similar in the sense that they seem to be respecting several Support and Resistance levels within their respective Channels. At the moment, the price found the 1D MA200 (orange trend-line) as well as the longer-term 1W MA50 (red dotted line). On November 30, 2020, such a pull-back near the 1W MA50, reversed and delivered a strong +11% rebound. On top of that, yesterday's low was on the Symmetrical Support (1), which is a Zone that since September 23, 2020 has held on a few occasions. The chances of a rebound here are strong. However, if the Golden Cross fails to contain the price next week, there is a probability for one final leg downwards to the Symmetrical Support (2). That seems less likely though to happen as since the June 01 High was slightly below the 0.618 Fibonacci (counting from the August Top), the 0.382 Fibonacci seems like the most likely Support level. In any case if an investor scales their buys correctly on those two zones, the long-term return appears to be excellent as by the end of the year based on this pattern, Gold should make new ATH. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> AngusMcK --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
5
XAUUSD Still an inflation hedge ahead of the CPI?Gold has been trading within a Channel Up since the March 31 bottom. Tomorrow we have the critical U.S. CPI data release and ahead of that, Gold has been showing some weakness as it has been trading under Lower Highs since the June 01 top. This Lower Highs trend-line needs to break to restore the bullish sentiment on the short-term and the price action since March favors a break-out. As you see on the chart there have previously been two Lower Highs trend-lines sequences, both of which broke to the upside after the 4H MA150 held as Support (yellow trend-line). The MACD is fairly similar right now to those two sequences. Since the 4H MA150 held on June 03, it would appear that the Lower Highs will break soon upwards, but low risk traders should take that break-out trade after confirmation by the CPI with a tight SL in place. The target is 1950, which is slightly below the Resistance Cluster (red zone) since September 2020. If the price fails to close a session above the Lower Highs trend-line, then be prepared for a potential Channel Down and testing of the 1D MA50 (red dotted line) for the first time since April 15. Previous Gold signal: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> crypto-strong --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
3
WTI Oil An interesting fractalWhat do you think of this fractal on the 1W time-frame? The price action since mid 2020 resembles that from early 2017 to mid-late 2018. During that time, WTI started off a Channel Down (blue), then as it broke above the 1W MA50 (blue trend-line) it rose aggressive and after it broke above the 1W MA200 (orange trend-line) as well, it entered a a 9 month Channel Up (green) that eventually led to the October - December 2018 collapse. During that Channel Up, a 1W Golden Cross got formed. Since mid 2020, the price seems to be following the 2017/2018 sequence. We are currently inside the (green) Channel Up. Even the RSI and MACD are printing similar sequences. Will another 1W Golden Cross emerge that will lead the Channel Up to a blow-off top? What do you think? ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> crypto-strong --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
3
WTI OIL Is $100 a realistic price target?A lot of talk has been made lately around popular assets like Gold's strength, the selling on BTC and the weakness of the USD while few have been paying attention to WTI Crude Oil's long-term carts. WTI has silently broken above its Historic Lower Highs trend-line (that has been in effect since the July 2008 Market Top) and is on a sustainable trade above it. This key advancement may have very important implications on the long-term, as with the DXY on a continuous fall, it appears that after decades, we may finally see Higher Highs on Oil. On top of that, last month, the 1W chart formed a Bullish Cross (BC) between the MA50 (blue trend-line) and the MA100 (green trend-line). Since 1995, we have had seven 1W MA50/100 Bullish Crosses and all but one delivered a Higher High. In the 4 most recent ones in particular, 3 times the price reached at least the 1.5 Fibonacci extension counting from the previous bottom. The 1.5 Fib extension currently sits at 102.50. Is this sustainable break-out from the Historic Lower Highs along with the 1W BC, good news for oil producers? Do you think $100 is realistic in the near future? Feel free to share your work and let me know in the comments section! Please like, subscribe and share your ideas and charts with the community! -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> CryptoSurfer007 --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
4
LUMBER Sell SignalPattern: Channel Up on 1D. Signal: Sell as the price got rejected on the Higher Highs trend-line of the Channel Up. Target: The 1D MA100 (green trend-line) on the short-term and the 1D MA200 (orange trend-line) on the medium-term. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> CryptoSurfer007 --------------------------------------------------------------------------------------------------------
LShort
by TradingShot
2
GOLD Channel Up intact aiming at 1950Pattern: Channel Up on 1D. Signal: Buy as the price rebounded exactly on the Higher Lows trend-line of the Channel following the 1D MA50/MA100 Bullish Cross and on top of that a 1D Golden Cross is emerging. Target: 1950 (just below the 10 month Resistance Cluster of September 2020). Previous Gold signal: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> CryptoSurfer007 --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSDLong
by TradingShot
1
GOLD Emerding Golden Cross on 1D. First since January 2019!Gold has broken above its 9 month Channel Down two weeks ago and last week printed a 1D MA50/ MA100 Bullish Cross. Now it is ahead of an even more interesting development. Projected courses of the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line) show that within a 2 week time-frame, Gold may form a 1D Golden Cross. This is technically the strongest bullish MA pattern. Last time the price formed a Golden Cross on the 1D chart, was back in January 16, 2019! At that time, Gold had already broken above its Channel Down and the RSI was already above 70.000. It is similar to the patterns we have today. Following the Golden Cross and a short consolidation, Gold almost reached the top of the Channel Down. Do you think the same pattern will be repeated? Previous Gold signal: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> CryptoSurfer007 --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSDLong
by TradingShot
1
NATURAL GAS Action PlanPattern: Channel Up on 1D. Signal: Buy within the 1D MA50 (blue trend-line) and the 1W MA50 (yellow trend-line). Target: 3.350 (just below the -0.236 Fibonacci extension). Most recent Natural Gas signal: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> CryptoSurfer007 --------------------------------------------------------------------------------------------------------
N
by TradingShot
2
WTI OIL Resistance Zone being tested. Action plan.Pattern: Descending Triangle on 4H. Signal: As long as the Resistance Zone stays intact, sell (A). If broken buy (B). Target: (A) 62.50 (the 0.382 Fibonacci retracement level), (B) 68.30 (the 1.618 Fibonacci extension level). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> NMOTION29 --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
2
GOLD close to the first 1D MA50/100 Bullish Cross since 2020!Gold (XAUUSD) is not secret that it has turned very bullish on the long-term. I've been mentioning since late March/ early April on a series of ideas that after the Double Bottom on the 1675 Support and the emergence of a 4H Golden Cross (MA50 crossing above the MA200), a Channel Up would develop: A new development though is emerging on the 1D chart this time, as the 1D MA50 (blue trend-line) is about to make a Bullish Cross above the 1D MA100 (green trend-line). Last time Gold formed this pattern was almost 1.5 years ago on January 22, 2020! As you see from the main chart, the sequences are similar and they are accompanied by an equally similar RSI pattern. In early 2020 after the 1D MA50/100 Bullish Cross, Gold made an initial top just below the 1.5 Fibonacci extension and after some consolidation it made a Higher High just above the 2.0 Fibonacci extension (before the COVID meltdown took the global markets by storm). What do you think, will this fractal be repeated? Feel free to share your work and let me know in the comments section! Please like, subscribe and share your ideas and charts with the community! -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> NMOTION29 --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSDLong
by TradingShot
13
GOLD Buy signalsGold is getting outside of the Channel Up that started on the March 31 bottom (blue channel) and may be forming an even more aggressive Channel Up (dashed lines). The next Resistance Zone is the January 06 - 07 Volatility Cluster (1910 - 1925). The 4H MA50 and 4H MA100 continue to form a zone for pull-back buying. The natural target is 1900 (just below the Volatility Cluster) and the Jan 06 High of 1960 in extension. Most recent Gold signal: Similarities with 2020: March buy signal on the bottom: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> buchi24 --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSDLong
by TradingShot
6
PALLADIUM Trade based on the 4H MA200 and the 1D MA200Pattern: Channel Up on 1D. Signal: As long as the 4H MA200 (yellow trend-line) supports, buy the dips. If it breaks potential prolonged sideways action until the 1D MA200 (orange trend-line) approaches. Target: Trade within the patterns that will be formed. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> xBTala --------------------------------------------------------------------------------------------------------
FX_IDC:XPDUSD
by TradingShot
1
GOLD Buy signals short-termPattern: Channel Up on 4H. Signal: Buy as the price successfully tested the former 1816.50 Resistance as Support. Stronger buy zone within the 4H MA50 (blue trend-line) and 4H MA100 (green trend-line). Target: 1855 and 1875 in extension (i.e. slightly below the next Resistance levels (and former Lower Highs during the February downtrend)). Former Gold signal: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> xBTala --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSDLong
by TradingShot
4
GOLD Cup and Handle showing $2300 and $3050 long-termThis doesn't need any complicated description. Long-term Gold holders can feel very secure as the giant Cup & Handle that has been formed on the 1M chart, is almost complete and is close to breaking above the Handle. The next natural technical targets are the 1.786 Fibonacci extension ($2300) and the 2.0 Fib extension ($3050). Thoughts? ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> xBTala --------------------------------------------------------------------------------------------------------
TVC:GOLDLong
by TradingShot
12
WTI OIL Buy SignalPattern: Channel Up on 4H. Signal: Buy as the price entered the 4H MA50 (blue) - 4H MA100 (green) range, which has been a Buy Zone before. Target: 67.50 (just below the 2 month Resistance). With a little more risk you may pursue the 1.618 Fibonacci extension, depending on where the price bottoms now. Most recent WTI signals: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> TradingView --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
1
GOLD broke above the 1D MA100. Major bullish break-out signal.As mentioned on a series of posts, Gold has been trading within a Channel Up since April: This Channel had one major barrier before the short-term bullish sentiment made the leap to the long-term as well, and that was the 1D MA100 (yellow trend-line). The current chart is on the 4H time-frame for better illustration, so be advised that the blue line is the 4H MA50 while the green line is the 4H MA100. So as you see XAUUSD closed its first 4H candle above the 1D MA100. The trend-line has also been hit both on May 04 and 03 but never had a 4H candle closing above it. So today marked the first time this happens since January 08! So what happens now? Well if the Channel Up is sustained, then every dip within the 4H MA50 - 4H MA100 Zone is a buy opportunity targeting the Lower Highs of the January - February downtrend: Feb 23 = 1816.50, Feb 10 = 1855.50 and Jan 29 - 1876.00. Pay attention to the 4H RSI which has a Resistance Zone that marks price tops within the Channel Up fairly accurately. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> TradingView --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSDLong
by TradingShot
3
GOLD 2021 vs 2020This is a comparison of XAUUSD (Gold) during March/ April / May 2021 and May/ June/ July 2020. As you see there are a few strong similarities: * Both formed a Double Bottom on their start. * A Golden Cross was then formed on the 4H time-frame. * This gave way to a Channel Up (blue). * The 4H MACD at the start of the Channel Up until now is virtually identical. Do you think history will repeat itself and push Gold higher inside the Channel Up and then even aggressively outside it on a Parabolic Rise? ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> alanmasters --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSDLong
by TradingShot
7
GOLD Successful test of 1760 as Support. Bullish.Pattern: Channel Up on 4H. Signal: Buy as the price successfully tested the 4H MA100 (green trend-line) and the 1760 level (was formerly the Resistance for 1.5 month) as Support. The 4H MACD made a Bullish Cross. Target: 1795 short-term (right below the 1D MA100 (yellow trend-line), which is holding as Resistance since January 08) and 1830 medium-term (right below the projection of the 1W MA50 (red trend-line). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> Vergnes --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSDLong
by TradingShot
4
WTI OIL Buy SignalPattern: Channel Up on 4H. Signal: Buy as the price rebounded on the Higher Lows trend-line of the Channel and is supported by the 4H MA100 (green trend-line), which has been the Support on the November 2020 - February 2021 uptrend. Target: 66.00 (just below the 66.40 Resistance). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> dwjamoney --------------------------------------------------------------------------------------------------------
TVC:USOILLong
by TradingShot
5
WTI OIL First 4H Golden Cross since November!WTI Crude Oil has just formed a Golden Cross on the 4H chart (MA50 (blue trend-line) crossing above the MA200 (orange trend-line)), the first since November 12, 2020. The price action since March 12 is quite similar to late October - early November. After the Death Cross on October 27, 2020, a bottom was formed a few days later. Once the Golden Cross was formed on November 12, 2020, the very aggressive rally of December - March was initiated. We are on a similar situation right now. The March 26 Death Cross may have priced the Bottom and if so, then today's Golden Cross may kick-start a new rally. I expect a value above $70.00 before June. Most recent WTI signal: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> kylevd23 --------------------------------------------------------------------------------------------------------
NYMEX:CLM2021Long
by TradingShot
3
NATURAL GAS 1st Higher High since mid February. Buy.Pattern: Triangle on 1D. Signal: Buy as the price has rebounded on the 1D MA200 (orange trend-line) and formed the 1st Higher High since February 17. After a Higher High, a rally was always followed since July 2020. Target: 3.140 (the 1.618 Fibonacci extension ). Most recent signal on NG: ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> kylevd23 --------------------------------------------------------------------------------------------------------
NYMEX:NG1!Long
by TradingShot