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GOLD 1H AND 4H ROUTE MAP UPDATEHey Everyone, Please see our 4h chart update after completing our 1H idea. On our 1H chart idea we stated yesterday another re-test on 2027 was likely and an ema5 failure to cross will see price come back down to complete the swing range. Although todays momentum was driven by CPI news release, our technicals were respected and this played out for the drop completing the swing range We got the 2027 hit, which was the perfect exit and then ema5 failure to lock above 2027 confirmed the rejection completing the swing range and also the support structure from the news momentum - see 1H chart below Our 4H chart then came into play. Also played out perfectly with our 2028 target hit, also giving us the perfect TP today. EMA5 failed to cross above 2028 confirming the rejection and then a nice move down now into the swing range completing 1999 and 1992. 1992 Goldturn, also gave the 40 pip reactional bounce and currently acting as support. We will now see how this support level at 1992 holds. We will either see this level hold for a another bounce or ema5 cross and lock below this level will open play into the range below for a longer play. Should the range below open up, we will update the levels accordingly for a fresh update tomorrow. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2028 - DONE EMA5 CROSS AND LOCK ABOVE 2028 WILL OPEN THE FOLLOWING BULLISH TARGET 2042 - FAILED TO CROSS AND LOCK CONFIRMING REJECTION EMA5 CROSS AND LOCK ABOVE 2042 WILL OPEN THE FOLLOWING BULLISH TARGET 2053 POTENTIALLY 2061 BEARISH TARGETS 2017 - DONE EMA5 CROSS AND LOCK BELOW 2017 WILL OPEN THE SWING RANGE SWING RANGE 1999 - 1992 - DONE As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX Mr Gold
FXOPEN:XAUUSD
by Goldviewfx
12
XAUUSD: Bearish Wave underway to 1,975.Gold is about to cross from a neutral technical 1D outlook (RSI = 45.543, MACD = -1.200, ADX = 26.629) to a bearish one as it got rejected on the 1D MA50, under which it will close for the third straight 1D candle. The 1D RSI suggests that this is a very slow medium term decline, as is evident by the 6 week Channel Down, that in the near term it will find a bottom. That can potentially be near the 1D MA200 and on the short term we remain bearish, targeting the S1 level (TP1 = 2,005) initially and in extension, if Gold closes a 1D candle under the 1D MA100, sell again aiming for the LL trendline of the Channel Down (TP2 = 1,975) near the S2 level and over the 1D MA200. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDShort
by InvestingScope
GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone, We hit the ground running with our first open target at 2027 HIT. Ema5 then failed to cross and lock above the 2027 weighted level confirming the rejection into the retracement range, also hitting both bearish targets at 2020 and 2016. EMA5 crossed and locked below 2020 opening the swing range. We got the push down into the swing range but didn't quite complete the full swing range target but gave the swing back into 2020 perfectly inline with our plans to buy dips. We will now look for ema5 to cross and lock above 2020 to open the re-test at 2027. Failure to break this range will see another dip keeping in mind the swing range levels for the bounces. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2027 - DONE EMA5 CROSS AND LOCK ABOVE 2027 WILL OPEN THE FOLLOWING BULLISH TARGET 2032 2037 EMA5 CROSS AND LOCK ABOVE 2037 WILL OPEN THE FOLLOWING BULLISH TARGET 2040 2044 POTENTIALLY 2048 BEARISH TARGETS 2020 - DONE 2016 - DONE EMA5 CROSS AND LOCK BELOW 2020 WILL OPEN THE SWING RANGE SWING RANGE 2010 - 2007 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX Mr Gold
OANDA:XAUUSD
by Goldviewfx
4
GOLD 1H ROUTE MAP & TRADING PLAN FOR THE WEEK AHEADHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between support 2020 and resistance 2027 two weighted levels for a test and break on either Goldturn to confirm the next level. We have resistance at 2027 for a immediate bullish target and 2020, as our bearish level target. We will see price range between these levels until one breaks and locks to confirm the next range. A bearish test to support at 2020 and a break and lock below this level will open the swing range. However, support above here and we are likely to see a test at 2027, 2032 and 2037 Goldturn. A cross and lock above 2037 will open the range above. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2027 EMA5 CROSS AND LOCK ABOVE 2027 WILL OPEN THE FOLLOWING BULLISH TARGET 2032 2037 EMA5 CROSS AND LOCK ABOVE 2037 WILL OPEN THE FOLLOWING BULLISH TARGET 2040 2044 POTENTIALLY 2048 BEARISH TARGETS 2020 2016 EMA5 CROSS AND LOCK BELOW 2020 WILL OPEN THE SWING RANGE SWING RANGE 2010 - 2007 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX Mr Gold
OANDA:XAUUSD
by Goldviewfx
9
GOLD 4H ROUTE MAP & TRADING PLAN FOR THE WEEK AHEADHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price play between two weighted levels with 2017 support and 2028, as resistance open for a test. We have resistance Bullish target at 2028, and our bearish retracement zone at 2017. We will see price range between these levels until one breaks and locks to confirm the next range. A bearish test to support at 2017 and a break and lock below this level will open the swing range. However, support above this level will likely provide the bounce to retest 2028 and 2042. A cross and lock above 2042 will open the range above. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2028 EMA5 CROSS AND LOCK ABOVE 2028 WILL OPEN THE FOLLOWING BULLISH TARGET 2042 EMA5 CROSS AND LOCK ABOVE 2042 WILL OPEN THE FOLLOWING BULLISH TARGET 2053 POTENTIALLY 2061 BEARISH TARGETS 2017 EMA5 CROSS AND LOCK BELOW 2017 WILL OPEN THE SWING RANGE SWING RANGE 1999 - 1992 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX Mr Gold
FXOPEN:XAUUSD
by Goldviewfx
GOLD DAILY CHART MID TERM PROJECTIONHey Everyone, Please see our daily chart idea that we have been tracking for a while now, which is playing out and respecting the channel dynamics perfectly. We got the 2043 hit, as analysed and we advised that we will be waiting to see either ema5 cross and lock above 2043 to open the range above or a new Goldturn formation below 2043 to confirm rejection into the channel bottom. - This played out perfectly with No ema5 cross above 2043 confirming a new Goldlturn below for the rejection into the channel bottom. We are now seeing price at support for a bounce or we will need to see ema5 cross below the channel bottom to open 1998 Goldturn test We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion. Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our algo generated levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
GoldViewFX - Gold long term projection and plan.Hey Everyone, This is our monthly chart long term projection chart. We have been tracking this chart since July 2023, which we saw completed hitting all our targets perfectly with a perfect finish on the channel top. We then tracked the rejection from the channel top into the monthly chart detachment highlighted by the circle with room still left at 1987 for a test, also inline with the channel half line. - THIS PLAYED OUT BEAUTIFULLY! We then suggested that we will see a reaction on this channel half line for another push up to retest the upper range again. - Once again this played out accordingly for the push up hitting our Bullish targets once again. However, the 2080 target was left short just by a few pips so can still be considered open. Since then we saw the new monthly candle come down to attach to ema5 this month also highlighted with a circle on the chart. We are looking for dynamic suport here for a push up. If dynamic support fails to hold price here then we are likely to see price support above 1987. Trying to chase the right target is like chasing your tail. The best strategy to trade this, is by having a long term plan. We will continue to buy dips using our smaller timeframes and use the support ranges on this chart to plan our long term exposure to market. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
FOREXCOM:XAUUSD
by Goldviewfx
GOLD (XAUUSD): Key Levels & Structure Analysis 🥇 Here is my latest structure analysis for Gold for next week. Vertical Structures Vertical Support 1: Rising trend line Horizontal Structures Horizontal Support 1: 2009 - 2014 area Horizontal Support 2: 2001 - 2006 area Horizontal Support 3: 1965 - 1977 area Horizontal Resistance 1: 2055 - 2065 area Horizontal Resistance 2: 2077 - 2088 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
3
Types of Orders in Forex Trading. Everything You Need to Know Hey traders, In this post, we will discuss types of orders that we use in Forex trading. ➖ Market order. Trading position is opened at a current price level. Buying the asset, you will open a trading position at a current ask price. Selling the asset, you will open a trading position at a current bid price. Even though market order is the most preferable type of orders among newbie traders, I highly recommend not to use that, especially if you are a day trader. ❗️The main problem is that prices constantly fluctuate and there is a certain delay between order execution and position opening. For these reasons, the position will be opened from a random price level within the range where the market is currently staying, affecting a risk to reward ratio. ➖ Limit order. Trading position will be opened only from a desired price level. With buy limit , you will buy the asset from a certain level. (current price remains above the order) With buy stop order, you will buy the asset from a certain level. (current price remains below the order) With sell limit, you will sell the asset from a certain level. (current price remains below the order) With sell stop , you will sell the asset from a certain level. (current price remains above the order) I prefer to trade with limit orders. Limit order helps you to trade from a desirable level, automatically executing the order once it is reached, letting you preliminary set it. ❗️However, remember that there is one big disadvantage of that order type: there is no guarantee that the price will reach the desired price level to activate a trading position. For that reason, occasionally you will miss the trades. Setting a sell limit order on Gold on 2049 level, the trade would be missed because the price respected 2048 level and dropped immediately then. Try these order types on a demo account to learn how they work in practice. Which order type do you prefer?
OANDA:XAUUSDEducation
by VasilyTrader
3
GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone, Another solid finish to the week tracking and trading the movement up and down Goldturn to Goldlturn. This week we started with the first Bullish target at 2040, which was hit and then no cross and lock confirmed the rejection. We then saw price play into the retracement range for the cross and lock confirmation for the swing range, which also played out perfectly providing the swing into 2030, as highlighted on the chart and all the way into 2040. The last two days we saw price play back into the retracement range giving the bounces inline with our plans to buy dips and then yesterday we had the 2022 test and bounce and we advised that we were waiting for the 2036 gap to be filled again as it was open- This weas completed today!!! It was a week full of swings and ranging action, which we were able to track and trade safely, as our Goldturn levels were respected in true GoldViewFX style!! We will now come back Sunday with our multi time frame analysis, trading plan and Gold route map for the coming week. As always have a great weekend with families and loved ones and we will see you all on market open!!! Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX
OANDA:XAUUSD
by Goldviewfx
12
GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone, As you can see our levels on this chart are being respected perfectly with each of our weighted levels giving us the bounces and rejection to be able to track and trade the movement level to level. After completing 2040 we got another retest on the retracement range, which gave the bounce into 2036. We then had another re-test at the retracement level 2030, as no break above 2036. EMA5 crossed and locked below 2030 opening 2022 Goldturn, which was hit and gave a nice bounce now heading into 2036, which is now re-open. We have 2040 at the range top that will need to break and lock to see the range above and 2015 at range bottom holding the structure. Price is likely to bounce and play in this range with our Goldlturns providing the bounces and rejections. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2030 - DONE 2040 - DONE EMA5 CROSS AND LOCK ABOVE 2040 WILL OPEN THE FOLLOWING BULLISH TARGET (NO CROSS AND LOCK) 2048 2055 BEARISH TARGETS 2030 - DONE EMA5 CROSS AND LOCK BELOW 2030 WILL OPEN THE SWING RANGE SWING RANGE 2015 -DONE 2007 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX Mr Gold
OANDA:XAUUSD
by Goldviewfx
GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone, And we did it again!!!!! After trading and tracking the movement down into the swing range and then riding it all the way back up yesterday we highlighted that we have a few candle body close above 2036 leaving 2040 gap open - This was HIT perfectly today!!! We will now see price bounce between 2040 and 2036 and look for ema5 to cross and lock above or below the weighted levels to track the next range. We would like to see 2036 support for another re-test at 2040. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2030 - DONE 2040 - DONE EMA5 CROSS AND LOCK ABOVE 2040 WILL OPEN THE FOLLOWING BULLISH TARGET (NO CROSS AND LOCK) 2048 2055 BEARISH TARGETS 2030 - DONE EMA5 CROSS AND LOCK BELOW 2030 WILL OPEN THE SWING RANGE SWING RANGE 2015 -DONE 2007 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX Mr Gold
OANDA:XAUUSD
by Goldviewfx
18
GOLD (XAUUSD): Important Key Levels & Structure Analysis 🥇 Here is my latest structure analysis for Gold. Vertical Structures Vertical Support 1: Rising trend line Horizontal Structures Horizontal Support 1: 2009 - 2014 area Horizontal Support 2: 2001 - 2006 area Horizontal Support 3: 1965 - 1977 area Horizontal Resistance 1: 2055 - 2065 area Horizontal Resistance 2: 2077 - 2088 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
3
GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone, Another great day with our chart idea update from yesterday playing out perfectly with 2030 hit on market open, as suggested yesterday. Yesterday we hit our Bullish target followed with the bearish retracement target and then cross and lock confirmed the swing range for the perfect swing into 2030, as highlighted on the chart - BOOOOOOM!!!!!! We have a few candle body close above 2036 leaving 2040 gap open, which will be further solidified with a ema5 lock above 2036. We will also need to see ema5 lock above 2040 weighted Goldturn level to open the range above. Rejection at weighted levels will see movement back down to re-test the swing range and second re-tests usually completes the full lower swing range level. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2030 - DONE 2040 - DONE EMA5 CROSS AND LOCK ABOVE 2040 WILL OPEN THE FOLLOWING BULLISH TARGET (NO CROSS AND LOCK) 2048 2055 BEARISH TARGETS 2030 - DONE EMA5 CROSS AND LOCK BELOW 2030 WILL OPEN THE SWING RANGE SWING RANGE 2015 -DONE 2007 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX Mr Gold
OANDA:XAUUSD
by Goldviewfx
13
GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone, Fantastic start to the week!! We got the Bullish target at 2040 weighted level on market open. Ema5 failed to cross above 2040 confirming the rejection into the retracement range. Ema5 crossed and locked below the retracement range opening the swing range, which was also hit perfectly followed with the perfect swing, as highlighted on the chart with the identified swing range doing exactly what it says on the tin. Our calculated algo generated weighted levels and swing range have always proven effective and always giving us the bounce and the swing with perfection. Just look at the perfect swing from 2015!!! This is the true level to level tracking and trading, as our setups give plenty of time to identify the opening of gaps to take action. We are now heading towards 2030 for the full swing to complete although we have achieved more than the 40 pip bounce always suggested form weighted levels. We will need to see a 2030 Goldturn test and a cross and lock to open the range above or rejection here will see movement back down to re-test the swing range and second retests usually completes the full lower swing range level. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2040 - DONE EMA5 CROSS AND LOCK ABOVE 2040 WILL OPEN THE FOLLOWING BULLISH TARGET (NO CROSS AND LOCK) 2048 2055 BEARISH TARGETS 2030 - DONE EMA5 CROSS AND LOCK BELOW 2030 WILL OPEN THE SWING RANGE SWING RANGE 2015 -DONE 2007 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX Mr Gold
OANDA:XAUUSD
by Goldviewfx
10
Decoding Market Mood: The Sentimental Drivers of Gold FuturesIntroduction In an era where information is as precious as gold itself, understanding the underlying currents that drive market sentiment has become crucial for traders and investors alike. Gold Futures, a standard in hedging against economic uncertainty and inflation, serve as a beacon for those navigating the volatile seas of the financial markets. This article embarks on an explorative journey into the realm of sentiment analysis, uncovering how shifts in global mood translate into movements in Gold Futures prices. Through a blend of case studies and theoretical insights, we will decode the signals broadcasted by market participants, hopefully offering a compass for those seeking to align their strategies with the underlying emotional and psychological state of the market. Understanding Sentiment Analysis The Essence of Sentiment Analysis: At its core, sentiment analysis in the financial markets involves the qualitative assessment of the collective mood or opinion of investors towards a specific asset or the market as a whole. It transcends traditional analysis by incorporating psychological and emotional factors, aiming to assess market movements based on the prevailing sentiment. This approach acknowledges that market prices are not solely driven by fundamental indicators but are also heavily influenced by human emotions and perceptions. Application in Financial Markets: In the realm of Gold Futures, sentiment analysis serves as a powerful tool to gauge investor confidence, fear, and overall market outlook. It encompasses the examination of various sources, including news articles, social media chatter, economic reports, and geopolitical events, to construct a sentiment score or index. This score reflects the general optimism or pessimism surrounding gold as an investment, influencing traders' decisions to buy or sell Gold Futures contracts. The Impact of Sentiment on Gold Prices: Gold's allure as a safe-haven asset makes it particularly sensitive to changes in market sentiment. During times of economic uncertainty or geopolitical tensions, a surge in pessimism can lead to increased demand for gold, pushing prices upward. Conversely, in periods of market optimism, where riskier assets become more appealing, gold may see reduced demand, leading to a decline in prices. Understanding these sentiment-driven dynamics is essential for anyone trading Gold Futures, as it allows for more informed decision-making, aligning trades with the broader market mood. Factors Influencing Gold Market Sentiment The sentiment toward gold is shaped by a myriad of factors, ranging from macroeconomic indicators to geopolitical events. Understanding these influences is paramount for traders aiming to navigate the Gold Futures market effectively. This section delves into these factors, reinforced by case studies that highlight their impact on gold prices. Economic Indicators and Central Bank Policies: Gold is often viewed as a hedge against inflation and currency devaluation. Economic indicators such as inflation rates, GDP growth, and unemployment figures significantly influence investor sentiment toward gold. Central bank policies, including interest rate decisions and quantitative easing measures, also play a crucial role. For instance, a decision by a major central bank to lower interest rates can lead to a weaker currency, prompting investors to turn to gold as a store of value. Case Study 1: Gold finishes October on a high In October 2023, amidst heightened geopolitical tensions and central bank activities, gold rallied, marking its highest monthly close by the LBMA PM price. This movement was influenced by a combination of factors, including COMEX futures' net short positions and substantial ETF inflows. The case underscores how geopolitical uncertainties and central bank maneuvers can drive investor sentiment, steering the direction of Gold Futures prices. Geopolitical Tensions Geopolitical events and uncertainties can lead to increased volatility in the financial markets, with gold often benefiting as a perceived safe haven. Conflicts, elections, and trade negotiations can sway investor sentiment, leading to spikes in gold demand. Case Study 2: Geopolitical and economic uncertainty boost gold demand and prices The World Gold Council's report indicated a slight dip in annual gold demand for 2023 but highlighted that demand from OTC markets and central banks kept the average annual gold price at historic highs. Despite ETF outflows, sectors like bar and coin investment and the global jewelry market showcased resilience, illustrating how geopolitical and economic uncertainties can bolster gold's appeal. Social and Environmental Considerations The growing emphasis on responsible sourcing and environmental sustainability is influencing investor sentiment toward gold. Initiatives aimed at ethical mining practices and combating illicit gold trade affect the market's perception and, subsequently, gold prices. Case Study 3: Collaboration underway to develop consolidated standard for responsible mining Efforts to establish a global standard for responsible mining, involving major industry players, highlight the market's shift toward sustainability. This collaboration aims to create a unified framework that reassures investors about the ethical provenance of their gold investments, potentially impacting demand. Case Study 4: World Gold Council and DMCC Collaborate to Combat Illicit Hand-Carried Gold Trade This strategic initiative to strengthen international regulations around gold sourcing and trade showcases the industry's commitment to ethical practices. Such measures not only enhance gold's reputation as a responsible investment but also influence market sentiment by ensuring a more transparent and reliable supply chain. Central Bank Activities Central banks are significant players in the gold market, with their buying and selling activities offering insights into their confidence in the global economy. Their actions can serve as a barometer for gold's future trajectory. Case Study 5: Central banks maintain historic buying pace in Q3 The Q3 2023 Gold Demand Trends report highlighted continued robust demand for gold, with central bank purchases significantly contributing to quarterly demand. This activity underscores central banks' role in bolstering gold market sentiment and illustrates their confidence (or lack thereof) in the current economic landscape. Applying Sentiment Analysis to Gold Futures Trading Incorporating sentiment analysis into trading strategies for Gold Futures involves a nuanced understanding of market mood and its implications for future price movements. This section discusses the current sentiment influenced by geopolitical and economic uncertainty and how it sets the stage for trading decisions in 2024. Current Market Sentiment and Gold Futures As we edge into 2024, the geopolitical and economic landscape continues to shape investor sentiment toward gold. The World Gold Council's Gold Demand Trends report for 2023 highlighted a nuanced market. Despite a slight decline in annual demand, the total demand reached a new record, propelled by central bank buying and OTC investments. This paradoxical situation—where demand dips but overall interest remains high—underscores the complex interplay of factors influencing gold prices. The Future of Gold Futures and Sentiment Analysis As sentiment analysis becomes increasingly sophisticated, its application in trading Gold Futures is expected to evolve. The development of AI and machine learning tools will enhance our ability to gauge market mood, providing traders with deeper insights and more accurate predictions. The integration of sentiment analysis into trading strategies will likely become more mainstream, offering a competitive edge to those who can interpret and act on market sentiment effectively. Trade Plan for Gold Futures Given the current sentiment and market conditions, there's a compelling case for a bullish outlook on gold. As such, we present a trade plan to go long on Gold Futures, with specific attention to risk management and catering to traders with varying risk appetites. Point Values and Contract Options Standard Gold Futures (GC): Each contract represents 100 troy ounces of gold, and the point value is $100 per troy ounce. This means a $1 move in the gold price equates to a $100 change per contract. Micro Gold Futures (MGC): For traders with a lower risk tolerance, Micro Gold Futures offer a smaller-scale opportunity. Each MGC contract represents 10 troy ounces of gold, with a point value of $10 per troy ounce, providing a more accessible entry point into gold trading. Trade Plan Details Entry Price: 2045.2 Stop Loss Price: 2001.7 Target Price: 2156 Rationale: The entry is predicated on current sentiment indicators and technical analysis, suggesting an upward momentum. The stop loss is strategically placed below key support levels to mitigate risk, while the target price is set at a level that previous sentiment-driven rallies have reached. Micro Gold Futures for Lower Risk Appetite For traders looking to engage with the gold market at a reduced risk level, Micro Gold Futures (MGC) provide an excellent alternative. Utilizing the same trade plan but with MGC contracts allows traders to manage their exposure more precisely, tailoring their investment to their comfort with risk while still capitalizing on gold's potential upside. Risk Management and Consideration Effective risk management is the cornerstone of successful trading, especially in the volatile realm of Gold Futures. Trading based on sentiment analysis introduces unique challenges and opportunities, making it imperative for traders to employ robust risk management strategies. This section emphasizes the significance of managing risk to preserve capital and sustain profitability over the long term. Understanding Risk in Sentiment-Based Trading Trading on sentiment involves interpreting market moods that can swiftly change due to unforeseen events or shifts in investor perception. Such volatility requires traders to be vigilant and adaptive, employing strategies that protect against sudden market movements. Key Risk Management Strategies Setting Stop Loss Orders: A well-placed stop loss can prevent significant losses by automatically closing a position if the market moves against your prediction. For the trade plan outlined (going long on Gold Futures), the stop loss at 2001.7 is critical for limiting potential downside. Position Sizing: Adjusting the size of your trade according to your risk tolerance and account size can mitigate risk. For traders utilizing Micro Gold Futures (MGC), this means leveraging the smaller contract size to maintain control over exposure. Diversification: While our focus is on Gold Futures, diversifying your portfolio across different assets can reduce risk. This strategy ensures that adverse movements in gold prices do not disproportionately impact your overall trading performance. Regular Monitoring and Adjustment: Sentiment can shift rapidly; regular monitoring of sentiment indicators and readiness to adjust your positions accordingly is essential. This includes potentially moving stop loss levels or taking profits early if the sentiment begins to change. Utilizing Hedging Techniques: Options and other derivative products can be used to hedge against your Gold Futures positions, offering protection against adverse price movements. Incorporating Micro Gold Futures for Risk-Averse Traders Micro Gold Futures contracts provide a nuanced way to engage with the gold market while managing risk exposure. For those cautious about sentiment-driven volatility, trading MGC allows for participation in potential upside movements without the larger capital exposure associated with standard Gold Futures contracts. Conclusion: The Sentimental Journey of Gold Futures The intricate dance between market sentiment and Gold Futures prices underscores the dynamic nature of financial markets. By decoding the mood of the market, traders can align their strategies with the prevailing winds, navigating through periods of uncertainty with informed confidence. This article has journeyed through the application of sentiment analysis, from understanding its foundations to applying it in trading strategies, and underscored the paramount importance of risk management. As we look ahead, the role of sentiment analysis in trading Gold Futures is poised to grow, propelled by advancements in technology and a deeper understanding of market psychology. The traders who succeed will be those who not only master the art of sentiment analysis but also adhere to disciplined risk management practices, ensuring their trading journey is both profitable and sustainable. In the ever-changing landscape of the gold market, the wisdom lies not just in predicting the future but in preparing for it with a well-rounded strategy that embraces sentiment analysis as a powerful tool in the trader's toolkit. When charting futures, the data provided could be delayed. Traders working with the ticker symbols discussed in this idea may prefer to use CME Group real-time data plan on TradingView: www.tradingview.com This consideration is particularly important for shorter-term traders, whereas it may be less critical for those focused on longer-term trading strategies. General Disclaimer: The trade ideas presented herein are solely for illustrative purposes forming a part of a case study intended to demonstrate key principles in risk management within the context of the specific market scenarios discussed. These ideas are not to be interpreted as investment recommendations or financial advice. They do not endorse or promote any specific trading strategies, financial products, or services. The information provided is based on data believed to be reliable; however, its accuracy or completeness cannot be guaranteed. Trading in financial markets involves risks, including the potential loss of principal. Each individual should conduct their own research and consult with professional financial advisors before making any investment decisions. The author or publisher of this content bears no responsibility for any actions taken based on the information provided or for any resultant financial or other losses.
COMEX:GC1!Education
by traddictiv
2
GOLD 4H ROUTE MAP & TRADING PLAN FOR THE WEEK AHEADHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price play between a central zone of two structures with 2042 and 2053 as the resistance levels open for a test and 2028, as the retracement test level. We have resistance at 2042 and 2053 for Bullish targets and 2028, as our bearish retracement target. We will see price range between these levels until one breaks and locks to confirm the next range. A bearish test to support at 2028 and a break and lock below this level will open the swing range. However, support above this level will likely provide the bounce to retest 2042 Goldturn and 2053. A cross and lock above 2053 will open the range above. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2042 2053 EMA5 CROSS AND LOCK ABOVE 2053 WILL OPEN THE FOLLOWING BULLISH TARGET 2065 2080 BEARISH TARGETS 2028 EMA5 CROSS AND LOCK BELOW 2028 WILL OPEN THE SWING RANGE SWING RANGE 2010 - 1999 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX Mr Gold
FXOPEN:XAUUSD
by Goldviewfx
GOLD WEEKLY CHART MID/LONG TERM PROJECTION UPDATEHey Everyone, This is an update on our weekly chart idea that we have been tracking and trading successfully over the last few months and currently still being respected. So far we were able to track the entre move up and down twice with level to level tracking and our long range swing range zones also providing the bounces each time LAST WEEKS UPDATE Price is still ranging between the axis level and the weekly swing range. We will need to see a test and break on either level to confirm the next challenge either for the channel half line above or a breakout below the channel. CURRENT UPDATE We got the 2048 axis hit last week, as analysed but price failed to close above the axis level and also ema5 is still sitting between the range. We will need to at least see a weekly candle body close above the axis level and ema5 for a stronger confirmation for the range above to re-open. We need to keep the above in mind and continue with our plans to buy dips using our smaller timeframes, which will allow us to safely take the bounces from support. Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
GOLD DAILY CHART MID TERM PROJECTIONHey Everyone, Please see our daily chart idea that we have been tracking for a while now, which is playing out and respecting the channel dynamics perfectly. Last week we stated we were seeing price head towards 2043 and will need to see a break above this level with ema5 to open test for the range above or a failure to close above this level will see price retrace back down to complete the channel bottom test. - We got the 2043 hit last week, as analysed and now we are seeing ema5 challenge the level. This week will be crucial to see either ema5 cross and lock above 2043 to open the range above or a new Goldturn formation below 2043 to confirm rejection into the channel bottom. We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion. Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our algo generated levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx