Get started
Gold FuturesGold FuturesGold Futures

Gold Futures

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Forward curve Seasonals Contracts

GD1! trade ideas

Gold: Do not slacken! 🥱Gold could not yet gain significantly more upward momentum. Therefore, we still consider it 40% likely that the precious metal will drop directly below the support at $2285, thus confirming an already established high of the turquoise wave alt.B. In this case, our turquoise Target Zone would not be reached anymore. Primarily, however, we stick to our expectation that Gold will rise into our turquoise Zone between $2510 and $2631 to place the top of the regular wave B there.
COMEX:GC1!Long
by MarketIntel
Gold remains bearishThe strong performance of the U.S. ADP employment data in April provided new challenges for the Federal Reserve's monetary policy. In this context, the reaction of the gold market is particularly worthy of attention. After the data was released, gold fell back 4 US dollars in the short term and then rebounded. The number of ADP jobs in the United States increased by 192,000 in April, far exceeding the expected 175,000, showing the strength of the labor market. Salary growth slowed: Salary growth for those who changed jobs fell from 10.1% to 9.3% year-on-year. Although it is still higher than the level at the beginning of the year, it shows a certain slowing trend. ​ Against the backdrop of strong ADP employment data, the Fed's monetary policy decisions have become more complicated. The gold market will pay close attention to the Fed's next moves, as these decisions will directly affect gold's safe-haven demand and investment value. Investors should remain vigilant during this critical period and carefully evaluate market dynamics. The market is in a weak position, with pressure at 2306 and 2315. Therefore, if you want to short during the day, you must first pay attention to whether 2300 breaks. If 2300 does not break, gold will go short under such extremely weak conditions. Look at the trend point below at 2250. If 2300 breaks and the strength changes, this wave can still rise to 2315 and 2330 highs.
COMEX:GC1!Short
by Kevin-analyst9
1
2024-05-22 - a daily price action after hour update - goldGood Evening and I hope you are well. overall market comment Another round of all time highs but bears printed some bigger bear bars on higher volume but in the overall picture it’s still a trading range around the all time highs for stock indexes. To have any meaning, bears would need strong follow through tomorrow and make meaningful lower lows and test the daily 20ema. Commodities actually can have a red day. What a time to be alive. Copper sold off for almost 6% and Gold printed a big bear bar too, exciting. NVIDIA: The stock that saves the market because AI is the reason no asset valuation metric is important anymore. Stock hit 997.9 after hours and my best guess is that most institutions will use this spike as a gift to take more profits. Will see about that in the next 4 weeks. Gold comment: Another triangle 2412 - 2440 which I expect to break down below and we get a second leg down. The measured move target is 2375, coincidences… Besides that, bulls got the 2450 and market showed bigger rejection again. Bears need follow through below 2400 now. current market cycle: Small bear trend in bigger trading range 2300-2454 key levels: 2300 - 2450 bull case: Daily 20ema is at 2370, so bulls still closed above it and that means the market is still mostly bullish. Since we printed another ath on Monday, some pull-back was expected. Bulls would like to keep it above 2380 because it’s the most recent support under 2400. They want a big pull-back to make bears question the strength of the selling. Their first target is 2400 and then a breakout of the bear channel. Invalid below 2375. bear case: Bears got consecutive bear bars on the daily chart. They also see the formed channel and they want to keep the pull-back sideways and as neutral as it gets before a second leg down. My preferred target for the pull-back is at least 2400 inside the drawn channel. It could be that my channel is wrong and we see a faster and steeper drop to 2350 but i highly doubt that. Ultimately, bears want 2300 again soon. I watch the 15m and 1h 20ema closely for shorts. My swing position is very green. short term: Sideways to up. Had big down today, now a pull-back is expected. Please watch my chart. Invalid below 2372. medium-long term: Still no better opinion on this to be honest. I don’t like to get into the speculations why the Gold price is where it is. I have been saying that the market was very unusual over the last 2 months to say the least. We are on our way to retest the highs and after that I expect to trade down to at least 2150 but for that we need way bigger selling pressure. —unchanged current swing trade: Shorted 2429 on Tuesday - target 2375, sl 2390. Took 25% off at 2380. +480 so far. trade of the day: Strong selling with follow through below 2400, given that market could not trade above the 1h 20ema, should have been short since 2414 or once we broke 2400.
COMEX_MINI:MGC1!
by priceactiontds
Is The Next Upside Target For Gold $2500/oz?Technical Momentum Strengthens Gold Futures hit an all-time high in 2024 at $2,454 on the June futures contract on May 20th. Since then, futures have corrected; however, gold remains firmly above the rising 50-day moving average at $2,332 and well above the 200-day moving average at $2111. The technical perspective shows momentum studies increasing, with the 9-day moving average trading above the 18-day. Stochastics are rising from oversold territory, and DMI + above DMI- , indicating that the bulls are technically in control. Tailwinds Continue to Develop With a 0% chance of a June rate cut, according to the CME FedWatch Tool, traders are focused on September; swaps are pricing in a 58% chance that the Fed will make its first interest rate hike in the cycle. Geopolitical tensions, rampant fiscal spending, and central bank buying have been the main drivers and have significantly propelled Gold prices recently. Industrial Metals Strengthen Performance remains strong in the Precious Metals space and has continued to spill into the industrial complex. Traders continue to monitor manufacturing, Chinese Economic data, and the U.S. economy, which have recently driven copper futures back over $5.00/pound and Silver over $32.00/oz. www.tradingview.com CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs Disclaimers *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
COMEX:GC1!Long
by Phil_Blue_Line
New Strat ?so long story short iwent for this same looking trade yesterday on a new propfirm that i had recently just paid for and well in one trade i blew the account. and i was dumbfounded becuase i knew my analisy was right and turns out it was but heres what i got wrong. i ended up being impatinet and not sticking to my orginal sell order and felt like i was going to miss out on this amazing opertunity and decidcied to throw out to sell limit order and go ahead and scale out the right leverage and get into the trade live in the market. so i did that and used the proper leverage that i like and that could pass my account in the very same day and well what do you know +_+ it drops to about 500$ in profit then retraces back up then it did it again and then it traced up to 1000- and then went into 800$ Profit and then retraced agian then went all the way to my stoploss which btw was were i had preveiskiky had my sell order and well i got stoped out and breached my account. and i spent 117$ on the account through myfunded and well then guess what it drop not shi of esacly that point and went all the way to my TP BRUH. and so i took another trade today and relizsed the same set up and im now wanting to understand this set up becuase it has work 2 times esacly the same way within the marketn
COMEX:GC1!Short
by JesusisGod77
GOLD (GCM2024, XAUUSD)... BULLISH BIAS!Bias is Bullish. Price is moving up with convincing momentum. Respecting bullish PD Arrays, disrespecting bearish ones. No signs of reversal. The intent to reach the DOL/Swing High seems clear. The expectation is for Gold to make further gains. A potential pullback to 2400 area would make sense as a zone to buy from, as buying from the top is not recommended. Thank you for viewing! Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! May profits be upon you.
COMEX:GC1!Long
by RT_Money
1
2024-05-20 - a daily price action after hour update - goldGood Evening and I hope you are well. Gold comment: Another triangle 2412 - 2440 which I expect to break down below and we get a second leg down. The measured move target is 2375, coincidences… Besides that, bulls got the 2450 and market showed bigger rejection again. Bears need follow through below 2400 now. current market cycle: trading range key levels: 2300 - 2450 bull case: Bulls have all arguments on their side, as long as the bull trend lines are intact and they trade far above the daily 20ema. . They probably want another retest 2450 tomorrow and some higher to make the bears who sold 2450 today, cover. Obvious target above 2450 is 2500, invalid below 2400. bear case: Bears sold-off for 40 points from the highs but the follow through was not good enough. I think the lower high is reasonable here to expect a bigger second leg down to 2375. So right now they need to keep this a lower high and break the first bull trend line around 2420 for a test of 2400. Invalid above 2445. short term: Sideways, then down - Invalid above 2443 medium-long term: Still no better opinion on this to be honest. I don’t like to get into the speculations why the Gold price is where it is. I have been saying that the market was very unusual over the last 2 months to say the least. We are on our way to retest the highs and after that I expect to trade down to at least 2150 but for that we need way bigger selling pressure. —unchanged current swing trade: Shorted 2429 for target 2375, sl 2443 trade of the day: Short 2450 - rejection was good enough and bears got follow through
COMEX_MINI:MGC1!Short
by priceactiontds