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MGC1! trade ideas

CORRECTION Looking to sell gold on a bounce to 2023.0Looking to sell gold on a bounce to 2023.0 Stop is 2062.0, target is 1981.0 Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not indicative of future results** hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. one of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. in addition, hypothetical trading does no involve fina ncial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. there are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
COMEX:GC1!Short
by Cannon-Trading
1
Gold Challenges New High - Expecting More Upside Inflation was only keenly felt, especially after the pandemic in April 2021, when the CPI broke above 2% to 4.15%, and then quickly soared to a high of 9% in June 2022. However, gold has been signaling impending inflation since the year 2000, which was 24 years ago. Currently, gold is also indicating further upside potential over the long term. What will be the implications for inflation and ultimately interest rates down the road? Micro Gold Futures & Options Ticker: MGC Minimum fluctuation: 0.10 per troy ounce = $1.00 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
COMEX:GC1!
by konhow
1
Analyze GOLD or XAUUSD by AI Investic Analytic StudioToday our AI has generate a strategy for trading GOLD future (GC1!) and XAUUSD which are two scenarios: Buy and Sell. For Gold future (GC1!), strategy of Buy side or Bullish is Entry: 2113.5, SL: 2108.5, TP: 2123.5 and strategy of Sell side or Bearish is Entry: 2123.5, SL: 2128.5, TP: 2113.5. For the XAUUSD, strategy of Buy side or Bullish is Entry: 2122, SL: 2117, TP: 2132 and strategy of Sell side or Bearish is Entry: 2132, SL: 2137, TP: 2122
COMEX:GC1!Long
by CC_PP
Gold-Will the bulls see yet another breakout failure?Bullish narratives I've seen published online over the last couple of years: 1. Gold is a hedge against inflation 2. BRICS Currency-it will be backed by gold 3. China is hoarding gold 4. Central banks are gobbling up gold Given all these narratives, one would think gold has some pretty strong tailwinds yet it has had 3 breakout failures since these narratives began. Will this 4th breakout we are currently experiencing be "THE ONE"? Or is this LT chart forming a possible distribution pattern around the $2K price point? When I look at this chart in its simplest format...the inability to firmly breakout 3 times previously tells me the market has been selling into the strength vs. a true belief in its bullishness. Typically you want to see a chart "break, test and go"...this certainly did not happen. This evenings strong move up due to "war news" is now just about to a key area of resistance...the non-horizontal trend line (blue dotted line). Reality of golds usefulness: "More than 80% of the extracted gold is used to make jewelry, therefore the jewelry industry is by far the largest processing sector for gold.” So in simplest macro terms: to be bullish on golds breakout, one should be very, very bullish on the male consumer buying up jewelry to be given to his companion or be very, very bullish on the female consumer buying or wanting gold jewelry. Newsflash-Taylor Swift tickets & Sephora have eaten away at the female consumer over the last couple of years and gold jewelry is not something on the Christmas list right now! (just saying...) So I'll go out on the limb and say the gap up this evening will end up being a sell the news sort of event and we will eventually see yet another breakout failure. Can't wait to hear all the gold bugs tell me I'm an idiot...but honestly, I just don't get the allure of gold and why it's discussed so much in trading/markets. We don't go backwards in time, ever. IMO gold is no longer what it used to be in terms of it's market impact hence why these breakouts keep failing...instead it's now mostly just used to make beautiful jewelry.
COMEX:GC1!Short
by Vixtine
4
Mar 4th 2024 GC Update - Potentially a start of something bigAnother share from the TTR, this time is a commodity chart - #GC Beautiful move up on Friday! The price has stopped right at the trendline support; there is one more resistance box above it. When/If it is broken, we will see the next trendline tested again, followed by a breakout box. This is a very bullish action as if the price continues to break out, then expect some geopolitical issues to come next, which means the markets could be near its maj top!
COMEX:GC1!Long
by TheTradersRoom
a daily price action after hour update - goldGood evening and i hope you are well. Interesting day today. Very strong move by the bulls above many bear trend lines. The first move to 2046 happened exactly in the Globex session as i said but the spike to 2058 was so big, that all bears had to give up. I expect follow through. Quote from yesterday: At 2046ish are 3 magnets: upper bear trend line, 1h 20ema and the bull trend line from the triangle, very high probability market will go there for a retest. bull case: Bulls want follow through and i got a measured move target around 2080-2090. If this was a w1, it could lead up to 2100+ again. If bulls can keep the giant bull gap open, i’d enter on a stop 2060 for 2080 and higher. bear case: Bears gave up on the spike bar and will be cautious before shorting again, especially not the bull flag we formed into the close. If they could close the gap to 2046, this might reverse completely but for now bulls are in control. short term: neutral until we break 2060, then it’s up, below 2046 is more down medium-long term: sideways trade of the day: long double bottom one tick above bar 8, which could have given you the complete spike up. Monday and Wednesday could not break 2030 and it was an obvious buy area
COMEX_MINI:MGC1!
by priceactiontds
GOLD Long Idea-This week I've had an overall bullish bias for Gold to head to the PWH after we put in a fractal swing low on the weekly, confluence with wicking below several weekly lows. -Although today's Daily candle close isn't super strong, I'm still leaning towards looking for longs. -Daily candle rejected from the Daily +OB again, and also failed to displace and close below Tuesdays Low. -I am targeting Wednesdays high, and the PWW. -I want to see H4/H1 discount arrays being respected, followed by a displacement entry confirmation on M15/M5.
COMEX:GCJ2024Long
by Tradius_Trades