GC1! Gold is screaming crisis 🚨 +1,000/oz in 9 months. +620% in 20 years (vs +580% S&P500). Fed pivots, bonds lose demand… and capital rushes into gold. What is it trying to tell us? 👀
GOLD Happy Easter Everyone! We'll be watching the news very closely this weekend, identifying any potential triggers within the micro and macro economic and geopolitical landscape to correctly predict our pre-market monday trades. Follow us for predictions, market sentiment and trading technicals! MGCM2025USOILGOLDGOLDGOLD1!
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.