MGC1! Gold is overbought on so many levels. I concede that the economical and geopolitical climate favors gold and that gold should go up long term but on a shorter horizon, gold might very well be overbought at the moment. Look at the chart below and pick your target but I would put a very high probability of retracement to the first target at around $2900 - $3000. Depending on the speed at which it retraces (if it retraces), it could even go to the second or third level. I sold 3 micro contracts for this trade. I put my stop at $3,400 so I am risking less than $2,000 for a potential gain of $11,000, even if it reaches only level 1. This is a 5.5 win/loss ratio.
Idea: 4/17 Gold Trading Strategy Gold has now fallen below the 3300 level, and today's sell-side strategy once again proved highly accurate. Those who followed the signal should have secured solid profits.
The downtrend remains intact on the 2-hour chart. If the market presents a favorable buy zone, it could offer an excellent opportunity for a new round of long positioning. Stay alert and ready.
XAUUSDMGC1!GC1! Yesterday, the escalation of the tariff issue significantly strengthened bullish momentum in gold, leading to a one-sided upward move. There’s no need for lengthy analysis today — in this kind of market condition, the focus should be on identifying sell opportunities. A sustained rally like this is almost always followed by a correction, even without any additional catalyst.
Furthermore, today’s initial jobless claims data may provide an opening for the bears. Even if the data is bullish for gold, the likelihood of another sharp rally is low at this stage.
Today’s Trading Recommendations:
Sell Zone: 3350 – 3390 Ideal for initiating short positions as gold approaches extreme levels.
Buy Zone: 3268 – 3252 Key support zone where long positions can be considered upon a pullback.
Range Trading Zone: 3330 – 3288 Suitable for flexible intraday trades based on market structure and real-time price action.
Summary: After a strong one-sided surge, gold is now in overbought territory. Look for short setups at resistance zones, especially with potential catalysts like jobless claims data on the horizon. A healthy correction is both expected and necessary before any further sustained move upward.
XAUUSD 📌 Gold has surged over $400 in just six trading days—a textbook example of an extreme short squeeze!
Yesterday, gold broke above the 3300 psychological barrier and is now trading above 3360. While safe-haven demand driven by escalating trade tensions is part of the reason, such a rapid and steep rally is clearly unsustainable.
⚠️ If you enter at these levels and get trapped, trying to "hold and hope" could result in facing $100+ of price swings—a dangerous gamble for most traders.
👉 Experienced traders might manage this volatility with scalping or short-term strategies to mitigate losses or even turn a profit. ❌ But if you don’t have that level of skill, don’t chase this rally blindly.
✅ Suggested approach:
Scale into short positions gradually, or
Wait for clear topping signals before going short
Missing this rally isn’t the end—some of the best opportunities come during corrections. Profit potential remains strong on the way down.
XAUUSD A five-wave structure is nearing its final leg RSI is showing bearish divergence Volume is surging at the top — a classic sign of distribution GOLDGC1!GLDIdea: Gold: Reversal Is Near
MGC1! Gold is overbought on so many levels. I concede that the economical and geopolitical climate favors gold and that gold should go up long term but on a shorter horizon, gold might very well be overbought at the moment. Look at the chart below and pick your target but I would put a very high probability of retracement to the first target at around $2900 - $3000. Depending on the speed at which it retraces (if it retraces), it could even go to the second or third level. I sold 3 micro contracts for this trade. I put my stop at $3,400 so I am risking less than $2,000 for a potential gain of $11,000, even if it reaches only level 1. This is a 5.5 win/loss ratio.
