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GDF1! trade ideas

Is the Top in on Gold?After punching through $2000/oz for the first time since July, Gold and Silver have found themselves in a peculiar position, suddenly competing with the launch of a Bitcoin ETF. Perhaps the $175/oz rally over the past three weeks left investors "itching" to find the next "quick buck." While Bitcoin has proven a viable asset class, retail investors and Central Banks will quickly purchase any correction in precious metals. Next Weeks Federal Reserve Meeting The Fed meets next week and is near completing its fastest interest rate hike cycle in American history. Many call this wreckless given the unprecedented Government Debt, leaving almost no foreseeable way out. Once the Federal Reserve pauses its interest rate hike cycle, they have historically cut rates within 7-9 months. According to the CME Group Fed Watch Tool, there is better than a 50% probability the Fed will cut rates by at least 25bps by July 2024, and should have bullish implications for precious metals. In addition, Geopolitical tensions and uncertainty remain on everyone's radar, with two very complex wars breaking out over the past two years. The risks of safely traveling abroad seem higher than ever before, and with the Global divide continuing to expand, one must ask themselves, are we on the verge of WWIII? The Technicals Gold futures have broken above the psychological $2000/oz and have opened the door for higher prices. Traders will note that several levels remain on the charts defined as "critical support," with the first being the 200 DMA at $1983, the psychological $1950, and finally, the 50 DMA at $1929. Gold will need a close above $2000 and a stronger session to extend the rally to $2050. 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
''The Spot Price Of Gold is $2,002.15''Gold maintains its value. When the stock market crashes gold goes up in price. Once you understand how to buy gold you will become a trading expert. Gold is considered as international money. In order to learn more about the ''rocket booster'' strategy rocket boost this content. Gold is used in manufacturing of gold coins. Gold is a safe heaven asset. You can know the right time to buy Gold using the ''rocket booster strategy'' According to the world gold council the spot price of gold is $2,002.15 Disclaimer: This is not financial advice do your own research before you trade, hence do not buy or sell anything i recommend. Rocket boost this content to learn more.
COMEX:GC1!Long
by lubosi
The Future of XAUOn Feb 23 and March 23 Xau retested at the same zone but failed to break support zone and on the 23rd of October it retest on our support. The support zone which was retested is still the same one which price bounced off, in the previous months and failed to break it still. Now whats happening is its going long because the data collected from the past months will now make it seem like it consolidating. To me this whole movement i appears like the market is building up momentum to break our resistance zone above and because of that im staying a safe target of tp2300. XAU in the past has reached even 2000 interms of price so now im expecting it to go higher
COMEX:GC1!Long
by Apex_the_trader
Gold Completed a Bullish PatternThe rally from $1824 appears to be an Elliott Wave impulse pattern. As a result, a decline back to $1936 or even $1892 would be considered 'normal' under Elliott Wave Theory. The decline likely hold below the recent high of $2009, but it doesn't have to. If Gold does rally above $2009, then we'll review the wave pattern to discern what adjustments are needed. For the moment, gold has rallied in 5 waves and declined in 3 waves so the larger trend is up and look for declines to be temporary.
COMEX:GC1!
by JWagnerFXTrader
Gold10.24.23 9:30 am The reason I started talking about gold is that I wanted to frame the market to see if there was anything that I could trade today. So I ended up showing you how I would set up my lines and my support resistance areas for what has happened up until the present time. there was an opportunity to short and to go long in this market.... but as you listen to the video you should realize it's not always that easy to find a trade with a good target and a small stop. Because the market is contracted here it's extra difficult because the reversals are quick and they give you limited reward, and it's not an easy trade unless you want to be up all night. but I still think it shows you where the buyers and sellers are. And I'm showing you the way I use range boxes and my other tools. It is possible that in the next hour or so if the market starts moving higher than where we left off there might be a long trade here. I think a contracted market like this is more difficult to trade but if you're careful you might find a couple of gap trades... in-N-Out trading... if you're selective and you have the ability to walk away from the computer before you get burned out. In the end, my belief is to have an opinion about the market looking at these patterns and the price action as opposed to having a Vague feeling... About the market.. which makes this impulse trading as opposed to thoughtful trade because you see an edge. It's best to stay away from the hard decisions... and wait for the easier ones.
COMEX:GC1!
by ScottBogatin
Extended Trend on GoldLet's take a quick look at the 4 hour chart on Gold. Notice the TrendCloud has turned the candles ice blue. This is showing us that the trend has become "extended" and will most likely have a deep pull back that will go below the 50 SMA. Momentum is down and we are starting to pull back. We can start shorting gold when and if it first breaks 1981.4. TrendCloud is starting to give us sell signals on the opening range breakout today. OR we can wait for a deep pullback into our demand zone at 1937.7 to 1930.6 on the 4 hour chart. THEN start to buy it again.
COMEX:GCZ2023
by thechrisjuliano