KGD1! trade ideas
Futures Gold Day Trading analysisOn Gold , it's nice to see a strong sell-off from the price of 2351. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated.
I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again.
The downtrend combined with the strong volume area along with the strong S/R area from the past are my main reasons for this short trade.
Happy trading,
Dale
Gold COMEX Future - Intraday Levels - 10th June 2024
If Sustain above 2310.4 then 2315.4 then 2325.0 above this bullish then 2347 to 2352 or 2361 above this more bullish
If Sustain below 2310.4 then 2297 to 2292.1 or 2288.6 then 2278.7 to 2273.8 or 2270.3 below this bearish then 2252.1 then 2242.0 to 2237.2 below this more bearish then 2215.7
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I am not a registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock and commodities trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk.
Thank you.
6/9 | $GCNot much for me to do since the last update on Gold. From the initial breakout, we anticipated a new high would be created before a pullback to retest demand. Now that we are back lower, I would like to see gold start to form a base for a move back to highs potentially. Watching $2300.
GoldTHIS IS NOT A TRADING SIGNAL, ITS AN OPINION, IF YOU COPY IT, IT IS ON YOUR OWN RISK.
Gold has made newer high last week, but it has field to break through and keep moving up wards, went for retest the strong support at $2330 but it has field to hold and push back to the up trend and broke the up trend line.
So far the game has changed a bit due to the up coming Fed Rate, which strongly expected to keep the rate at same 5.50%, and that will push the Gold down to the levels $2250 and then $2180 which is a strong support that we will see a strong pull back from that level if the price pushes to that level, expected a lot of buyers around $2180 level.
#202424 - a weekly price action market recap and outlook - goldGood Day and I hope you are well.
old futures
Quote from last week:
bear case: The smaller bull trend line was clearly broken and retested and the higher time frames also give more sell than buy signals. It’s a two-legged correction here to the ema and that is a perfect sell signal. They want follow through on Monday for target 2300.
comment: This market behaved as I said it would. The high of 2406 was a bit higher than expected but overall read was perfect. We are in W3 which should lead a bit lower to around 2270ish before we get another sideways to up movement. If W4 stays below 2350, W5 should bring us to at least 2200. That is a 120 point move in Gold for you. Let’s see how it will play out. Small possibility that 2300 stays support and we move more sideways. Would reevaluate my take on this then.
current market cycle: trading range until break below 2300 , which would confirm a bear trend, probably down to 2200. I favor the bears heavily here but leave room for 2300 being stronger support than I think it is.
key levels: 2300 - 2400 / below 2300 comes 2270 in play
bull case: Bulls continued in the expanding triangle and got their retest of 2400, just to be violently sold by the bears. Twitter and news salespeople want you to believe it was due to news that China won’t buy any more Gold. But how do they explain the W1 from 2477 down to 2334? That started 2 weeks ago. Only objective now for the bulls is to keep it above 2300, otherwise 2270 comes next.
Invalidation is below 2300.
bear case: My bear channel tells how you I feel about Gold. Now bears need to print lower lows and keep the pull-back for W4 mostly sideways and under 2350. I fully expect to hit 2200 over the next weeks and then we will find out how many people want to buy Gold again.
Invalidation is above 2360.
outlook last week: “Still preferring that second leg down to 2200. Bearish below 2340 and neutral 2340-2390.”
→ Last Sunday we traded 2345 and now we are at 2325. My target to the EMA was on point and good for about 30 points and my downward target to 2270 is still valid. Good outlook.
short term: Bearish. Big bear surprise on Friday and I expect follow through.
medium-long term: For now I think the most reasonable outlook I could give is a trading range 2200-2450. This could hold for some time. Bear in my still thinks this rally is dumb and we will see 2000 again this year but that’s as unreasonable of an outlook one could hold so DON’T. —unchanged
current swing trade: Short from 2374. SL is 2406.
Chart update: I like my new bear channel. I trade it and I made money so far with it. Hope you can make some too with it.
It's a good time to accumulate!In recent sessions, gold, which has always appreciated during periods of falling interest rates, would seem to tell us that an increase of fed funds is more plausible than a decrease. This movement is likely due to better-than-expected US employment data. We cannot predict when and if rates will be cut but I think it is a good time to accumulate shares of Gold ETCs for a good profit margin when, sooner or later, rates are cut! Stay tuned
It's a good time to accumulate!In recent sessions, gold, which has always appreciated during periods of falling interest rates, would seem to tell us that an increase of fed funds is more plausible than a decrease. This movement is likely due to better-than-expected US employment data. We cannot predict when and if rates will be cut but I think it is a good time to accumulate shares of Gold ETCs for a good profit margin when, sooner or later, rates are cut! Stay tuned
GC1!_Short-Term TrendGold could get one more poke into the green box extension area noted on the chart, but as price continuously tries to confuse us, I actually think a c wave subdivision of the Minuette (v) Ending Diagonal is likely and warranted, here. I have zoomed out to show some fib confluence at the top end, some of which is already set, and some of which is speculative. I believe these waves, though, are the parameters of the completion of Minor wave C of Intermediate (5).
Gold COMEX Future - Intraday Levels - 7th June 2024if Sustain above 2398.6 then 2402.1 to 2405.7 then 2413.3 then 2421.3 then 2424.9 to 2428.5 then 2435.3 then 2439.1 to 2442.6 above this more bullish
if Sustain Below 2388.0 or 2384.6 then 2373.9 to 2370.9 then 2362.0 then 2352.5 to 2348.0 below this bearish
Consider some buffer points (+/- 4) in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk.
Thank you.
Golden, Green, or ScarletHey There, Welcome Back. Today we analyze the evergreen hedge commodity.
- If you are an Indian, Given that Gold rallied almost 17% in a very short span You must be quite happy. We Indians love gold. Especially, the ladies in our homes.
- The chart of Gold Futures is showing something interesting. The price took quite a rejection from the recent support zone.
- If this rejection holds, we may see a correction/retracement.
- On the other hand, we may just see a consolidation phase (Which is usual after a good rally)
- Only future price action will tell what's what but in the meantime, here are a few rumors/updates to know in the vicinity of Gold (Some are just rumors so take it with a pinch of salt) :
- BRICS Bloc is rumored to introduce a gold-backed currency that will any day be more reliable than the flat currency every other country has.
- US is battling Economy slowdown and recession. The United States has the world's highest national debt with $30.1 trillion owed to creditors as of the first quarter of 2023- Al Jazeera.
- The US Credit ratings were reduced to AA+ from the elite AAA
- If the BRICS Currency comes out, 85% of the global population will stop using US Dollars for intra trades settlement (BRICS Nations)
- Russia is out of the SWIFT System meaning USD Dealings are off the table. That reduces the demand for dollars.
- Saudi Arabia is rumored to join BRICS. Also, for the first time, they are considering accepting other currencies besides the Dollar for Oil trades. This may hugely impact the almighty dollar.
- In the calendar year 2022, central banks around the world purchased a record 1,136 tonnes of gold.
- RBI’s hoard of gold is now almost 800 tonnes
- China’s Central Bank is accumulating gold for straight 9 months
- Gold may soon be the King once again.
Does that mean we will start buying gold at any given price? Absolutely Not. But we will surely keep a check on the global news, the price action, and our overall asset allocations.
Have Requests, Questions, or Suggestions? DM us or comment below.👇
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
Buy June gold at 2411 limit, stop at 2376, tgt openBuy June gold at 2411 limit, stop at 2376, tgt open
S Aug gold at 2333.3 on stop, if filled target 2307.6, stop 2376
Gold rally looks tired and a correction, maybe short term is possible. Sell Aug gold at 2333.3 on stop, if filled target is 2307.6, stop is 2376.6
Short term Gold outlook Bodies respecting C.E of H1 FVG away from H4 FVG. expecting downwards momentum in New York Session
Gold continue with the UptrendOn Gold, it's nice to see a strong buying reaction at the price of 2375.
There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again.
The S/R zone from the past and high volume cluster are the main reasons for my decision to go long on this trade.
Happy trading
Dale
Gold
This is not a trading signal ,it my opinion and if you copy it then it is on your own risk.
Gold at a strong Resistance level , it has tested this level on the hourly frame more than 3 time , so far the gold still strongly bullish but we will see pull back to the support level which is at FVG , and that is where we enter Long and target is at the next Resistance level.
GC1: Buy ideaBuy idea on GC1 as you see on the chart because we have a spring effect on vwap and also we have the breakout with force the resistance line.
GOLDThis is not a trading signal, its just my opinion , if you copy the trade its on your own risk.
This trade we are taking on the hourly chart, quick trade with short stop loss.
Trading the bull back before the rally upwards.
taking the target at fib 50% considering the fair value gap the should be covered on the hourly frame.
GOLDThis is not a trading signal, its just my opinion , if you copy the trade its on your own risk.
Gold . daily chart still signalling bullish market as the trend is bullish , we expect the next target is around $ 2405 and if that gets broken then it will rally up towards the $2454
so far we expect retest to resistance at $2355 and then continuation to the target.
this analyses valid for only this week.
Gold shining on the "UPSIDE"Gold has been trending strongly on the higher time frames and seems like it still has a lot of room to move to the upside. We will wait patiently for the pullback on the 4hour chart demand zone that has been created. We should expect to see another leg to the upside on Gold.
GOLD MARKET OVERVIEW The precious metal closed at $2,327 per ounce, sweeping liquidity as prices are expected to re-ranges around the 2360s. With the third quarter of the year approaching and ongoing instability, involving the Feds and central banks in East and Central Asia recurs as gold remains a valuable asset and a safe haven with growth potential.
Despite expectations of rising inflation and the possibility of the US Federal Reserve lowering interest rates this year, gold prices are still declining. For a confirmed sell momentum, we need to see a decisive break back to the preliminary supply zone at $2,370-$2,385.follow for more insights as the next insights will be published via the comment section ......boost idea and comment .
Gold Long Term Outlook Predicting Bearish Dollar Index, So believing in the strength of gold, Watching for SMT with silver to confirm longs from the Monthly FVG
a daily price action after hour update - goldGood Evening and I hope you are well.
Gold
comment: 2350 is the big line in the sand for both sides. Bears did it big time by closing below the big bull trend line from March and consecutive daily closes below the 20ema. Problem for them is, 2300 - 2350 was huge support for 2 months now and I doubt bears can break it that easily. My bear channel from the weekly outlook is still valid though.
current market cycle: tight trading range
key levels: 2350 - 2380
bull case: Big support 2300-2350 and bulls need a daily close above the ema (2380) again. Right now they have not shown strength but neither have the bears or we would have traded lower already.
Invalidation is below 2300.
bear case: Bears see this as a small pull-back in the new bear trend (started with the double top on the daily chart) down to 2170-2200. They need much bigger selling pressure to get below 2300 though.
Invalidation is above 2390.
short term: Completely neutral inside given range.
medium-long term: For now I think the most reasonable outlook I could give is a trading range 2200-2450. This could hold for some time. Bear in my still thinks this rally is dumb and we will see 2000 again this year but that’s as unreasonable of an outlook one could hold so DON’T.
current swing trade: None
trade of the day: Long low of last week 2349 after bar 3 (signal bar) - bar 4 = entry bar
