Gold-futures
GC. Sell area before a major buy zone. Gold is nearing a potential sell area to complete a Gartley pattern . This will complete the B-C of the bigger ABCD down to the low 1800s area. This area also completes the bigger ABCD pattern from the ATH back at the start of August. October is seasonally a mildly bearish month. Also a big change in trend window coming up this week.
Gold to fall and then possibly bounce from the Support!Gold is rising in the Upward channel. The golden cross indicates the bullish signal , however we see the high overboughts at the ROC and RSI that suggest that the price can fall. Thus , we shall expect either instant rise or the bounce from the local support , as the golden cross has not been very accurate sign for the Gold!
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Should we expect a C corrective wave on XAU/USD Futures?Main items we can see on the chart:
a) The price has reached the all-time highs zone and started a corrective movement
b) Now, we will focus on the possible paths inside the correction
c) The main aspects we can see are: The ascending trendline has been broken / We have a clear edge for the corrective movement (parallel lines)
d) Based on those items, we expect a bearish movement towards the next relevant level ( Support / Resistance zone) 1800/1780
Tell us your view on the comments!
GOLD (XAUUSD): Weekly Update & Consolidation
gold is still stuck in a correctional structure.
the price is weakening within a descending triangle formation and expansion is coming.
for now keep following the price within a triangle and consider intraday short and long opportunities within that.
it you want to make an accurate long term prediction, breakout will most likely clarify that.
good luck!
GOLD (XAUUSD) Weaker and Weaker!!! What's Next???
Gold is becoming weaker and weaker.
lower highs are closer and closer to a yellow horizontal daily structure support .
this trading week the market was phenomenally slow and we didn't see even 1 strong bullish / bearish candle.
currently, it is better to stay away from gold and wait until the market will start moving.
I am waiting for a high momentum bullish / bearish candle to break either current structure support to the downside or the last lower high level to the upside to look for some opportunities.
for now just patience.
let's see how long the price will keep being paralyzed.
Gold to make a slight rise!As 15&30 intercepted and we saw the swing at the ROT we can expect slight rise for gold.
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Really simple gold planGold has had consolidation since previous bull rally. this process has broken bullish after breaking out of flag. I will target 2060. make sure to manage risk and enter on good candle signal. potential to hold this trade further as dollar weakens. you could monthly target maybe 2200/2300
Lots of action in the metals - back in MGC/GLDFor active traders, the market action in the metals has been tremendous over the past month. We posted a short idea yesterday in copper HGU2020. The market is higher than our entry.
The 7-day ATR in the GC is over $55 and we saw a nearly 4% decline in today's session. BTC and cryptos followed along lower. We're entering a long position MGCZ2020 based on a Ext Buy on the 1H timeframe. Chose to keep the position small given the large recent ranges and frankly because we got smacked around a bit today in our day-trading accounts in the big contract.
Long MGC 1933, stp 1899, tgt 2003. Also adding back in to GLD Oct 185/195 Bull Calls at 2.75. We scaled 50% of original position at 3.5 yesterday.
GOLD (XAUUSD) Where are We NOW?
if you are struggling to make predictions on gold atm, you are now alone.
I am also stuck with its price action and behavior during the last two weeks.
technically the price is now trading in the middle of August's trading range.
the support of the range is based on the rejection wick of 12th august candle and two major rising trend lines
that expand the support of the rage as time flows.
the resistance of the range is based on the all times market high.
in my view, classic trend following strategies is not the option right now because of the lower high formation on 2000 level.
shorting will be the option only in case of a strong confirmation signal on a lower time frame and only from a major resistance.
from a current perspective, I would suggest you let the market decide first.
let's wait for some news or some other trigger that will make the market move, and then just follow.
Gold to test the Local Support!As we can see Gold has not broken the Local Support line and the breakout happened to be a fake one. The last candles provide us with the Three black crows patter and as the price lies below the 15&30 EMA I expect the decline in the price in the nearest time.
A great opportunity to buy GC1 on the 15M chart!A winning confirmation forming configuration that will reassure buyers to stay on their positions! Wait for my signal to get out of your buy positions!
GOLD (XAUUSD): Key Levels & Structure
Gold has retraced from a new structure high.
Now 2060 is our new key resistance level.
yesterday's daily candle got rejected from two crossing trend lines.
Now 1860 is our closest structure support.
1680 will be the next support.
it is based on a spring's market high.
for now it is not clear how the price will act,
however, key levels are the points from where we can look for trading opportunities.
good luck!
Gold's 2020 channel not broken - No doubt, weakness of the dollar has been quite the moment for a ton of assets (Bitcoin, SPY, etc), but are we changing that thesis so soon with recent news out or Russia?
Taking a look a the daily futures chart, we can see the 2020 channel is still very much intact. If the channel acts as resistance, look for the next leg up!
Volume divergence on Gold. Possible correction?Possible upcoming correction, target is the last resistance. Waiting for that confirmation pull-back to enter a long position, with a SL below previous historical highs.
Gold futures. Today's matrix for intraday trading.
Gold futures. Today's matrix for intraday trading on m5 timeframe. August 5
Hi everyone. My analysis done for my main timeframe 5m. I start from higher timeframes D1, H1 and move down to lowest m5.
Gold Futures Contract, COMEX — 12-20
My trading is based on market phases.
For timeframes m5:
SELL on the test of level 2028,40, target 2016,5
SELL 2016.5, target 1998.9
Trading on m5 timeframe.
Buy Gc it's clear there is a Probability over 95% that it will reach the 1866.8
Hurry up and buy the Gc now
if you have a question don't be shy and ask me
Short opportunityGolf is showing a high probability for a short position, sellers are pushing the market, target around 1835
GOLD (XAUUSD) All Time's High AHEAD!!!
hey guys,
it looks like gold has successfully violated the 2011's/2012's highs and closed above them.
now it is quite probable that the price will manage to reach all time's 1919.0 high soon!
here, just with ATR indicator we will try to assess how much time it would take for the market to reach the above-mentioned level.
for the last 12 months, the ATR is 98.
the distance between a current price level and the high is 115.1.
just making a simple calculation we may get that 1.5 months will be enough to reach the high.
the only obstacle might be a consolidation.
during autumn 2019 we had a 4-month consolidation cycle.
so it looks like we will be there quite soon.
we can never predict with 100% accuracy the time horizon.
however, ATR and price action analysis may help us to make at least approximate calculations.
p.s it is not a buying recomendation.
I just share my thoughts and calculations with you :)
