Gc!1
On the way to the next Resistance GOLD Futures by ThinkingAntsOkMain items we can see on the chart:
a) After a long time above a support zone, the price formed a clear corrective Structure
b) The Corrective Structure was broken with a bullish movement
c) Our main target for this movement is the next resistance zone at 1900-1915
d) Currently, the price is on its way to the Target
e) However, in our experience observing GOLD, we have seen that middle corrections happen on the movement towards these type of targets. So, expect one before opening new long positions if you couldn't open positions yet.
GC keep pushing upHello traders,
After yesterday’s record, the Gold future seems to continue in its increasing trend.
Right now, we have a green high volume that is a sign of a new impulse. GC seems attacking a new target level price.
So saving our buying position seems a good choice.
for intraday trading, we sell at the first red volume and a red candle.
GC intraday tradingHello traders,
What about Gold Future!!
Let’s assume that GC is taking an upward trend since 5 June. However, GC has broken that line trend down, and it is going again to the previous trading range.
Now, we have signs that GC will increase again (this is for intraday trading) and try to reach level L1, and could break it and reach the trend line.
If these thresholds aren’t reached, we sell at the first red volume and red candle and take profit.
ridethepig | Gold Market Commentary 2020.06.23📌 Surrendering the resistance
=> Buyers taking the highs here would be unpleasant for any bears e.g those betting on the double top and everything is roses on the risk and economy front. From a timing perspective, with witching cleared and value Quarterly/Monthly end rebalancing underway we can be comfortable with the link to Gold.
In this position which has now arisen, buyers can, after dips continue adding longs.
Since after the covid demobilisation we can expect a sovereign debt crisis. For that to happen the following conditions have to be met:
" Protectionism is a serious error. There is no yellow brick road to success with protectionism, and it is no surprise the US via media manipulation have the masses deluded. This is a necessary component to the makeup of the next economic cycle ; but it must be in balance, any overshoots or undershoots will destroy the effectiveness in manipulation.
Those with a background in fixed income will know alarm bells are ringing louder than usual in bond markets with wages ticking higher than mortgage rates. This is not sustainable and when danger threatens and the crowd does not smell it, don't stand like a sheep, rather run like a deer.
This constellation gives rise to the most interesting of struggles for long end bonds. I would like to offer a final way to track the destruction and recommend to keep on maximum alert. Let us wrap this up with a diagram:
As usual thanks for keeping the feedback rolling, whether its 👍or 👎!
GOLD - $1775 lets long this into 1780/90/1800+1775 current poi Im a established gold bull and I see a strong start to Q3 for the precious metal
Trade is invalid below 1770 which is a -50/60 pip SL depending on entry price
1:1 / 1:3 / 1:5 profit targets scale them out according to your plan
make sure you book some profit at last weeks highs and 1800 mpp
Two key levels to watch on Aug Gold Futures - 1,775 and 1,765
1,775 is a near term level that formed over on the 1-hour time frame. Price tested this level on June 30th (yesterday) and held above. If we see a break lower, then this is an indication that buyers remain weak.
A more critical level to watch is the 1,765 as this formation originated back in April and has been holding up since. You can see take a look at the 4-hour chart below showing the formation of this level. Every time price has broken above, it quickly trended back below. If this level continues to hold up, we can remain bullish on gold.
Gold - Buy/Sell pointsNow that Gold is breaking out, all focus goes to the 4hr chart.
I'm trading E-micro Gold futures ($/MGC), 2 contracts at a time.
Strategy is to hold 1/2 position all the way up to $1,880 target.
Day/Swing trade 1/2 position on the way up.
I'll update my markers where I buy and sell moving forward.
Links below show where I started building position.
Stay Black.
GC: Gold is Rising to All-Time HighsGold futures contracts GC have been rising on ongoing worries about economic recovery and unlimited QE. Further price advance is expected, possibly above $1900. Current chart shows negative divergence between RSI and gold price. However, the rally is still strong, targeting $1800 - $1825 level. A near-term pullback into $1742 area may offer a better entry point for a long position.