End of week for meIt was a rough week but we follow the trading plan. Although I have to be more patience and wait for a quality trade
TGF1! trade ideas
GC - Gold. 1hr MarketmetaSoon there will be explanation call outs above each candle that I'm referencing, its if/then statements to guide my thinking and will likely do more 5min private charts and less 15min ones. I'd like to speak to both day traders and investors so as I post these I'm noting how I can show off and adapted level -i.e. A daily level has a fractal pattern trail it leaves behind like notes to read for traders to know where in the ledger they are. We call this Range Finding or going down in timeframes. - to show off an adapted level I might make the line opacity less and paired with the notes later any reader will get the picture.
the goal is to only mark the FS candles first - get to know them. recognize them and start talking to yourself in IF/THEN statements. If this FS has been tested , then the candle that tested it will have a FS candle to ladder off of either on the same timeframe or lower. If that candle holds, then... if not.. then...
gold spot or mcx update edu. pur.gold spot eys on 2365$ stya abv than looks 2374--85+++++ where support 2347$ blw will mkt dwn possible 2340-331@ now eveng big data ahead also so be cautions in mcx stya abv 72577 thna looks up side 72720--72900-++++++++ where support 72220@ only blw mkt will correct more in live session data time
Gold: One Last ClimbGold has slowed its newest upward move, but we assume the precious metal will not give up. Indeed, we expect it to realize even stronger (corrective) gains up into our turquoise Target Zone between $2510 and $2631 to finish the turquoise wave B. However, the turquoise wave alt.B could have already concluded below our Target Zone. In this 40% likely case, the price would fall directly below the support at $2285 (without reaching the Target Zone).
Will GC continue the consolidation? Long @ 2330GC has been consolidating for days. I have a long bias per my previous idea . Until that changes, I will continue to play the range with a long bias.
Therefore, taking a long at 2330 with a stop below the recent lows (2327.4) at 2327.0. If we go below that I'll consider looking for a short down to a retest near 2300.
Check my intraday Gold and Silver call....MARKET CRASHED todayTREND CHANGE---Gold and Silver DOWN today....
Gold August Futures....2368.05 range to 2345 2335 2325 in next few minutes.....
Silver September Futures.....30.892 range to 30.150 29.750 29.500 in next few minutes.....
MGC - Buy - 06/30/2024- What is the trend?
• Bullish
- 1H: Is price touching a key fib level (yellow)? (Gold is tricky so look for .382 and .786 levels too)
• Yes
- Does 1H supply/demand align with key fib level?
• Yes
- 1H: Is price above(bullish)/below(bearish) the 20 EMA, resisting the 20 EMA, or crossing the 20 EMA?
• Yes
○ 1H: Is Volume at or above average (MA) at this time?
• No
- 1H: Is RSI pointing in trend direction or above(bullish)/below(bearish) the 50 line?
• Yes
Plus:
- Is 1H supply/demand aligned with 4H OB/supply/demand area?
• Yes
• No
- 15M: Is/has price touched 1H zone or fib level?
• Yes
- 15M: Is there RSI convergence/divergence?
• Yes
- 15M: Is price above(bullish)/below(bearish) the 20 EMA, resisting the 20 EMA, or crossing the 20 EMA?
• Yes
○ 15M: Is Volume at or above average (MA) at this time?
• Yes
Can the HOUSE CAPITALIZE LONG TARGETING 4HR Swing EQ Level...?COMEX:GC1!
"The One Most Adaptable to Change is the One that Survives." -Charles Darwin
Gold is currently trading inside of this 4Hr Swing Range in a Correction State on the 4Hr as price is slowly but surely starting to switch Overall bearish on the HTF's... Now the 4Hr Swing EQ has been playing a big role for sellers who keep selling price lower with multiple attempts however; have not been successful in breaking past the HUGE Daily Demand Zone below. Also at this price level ($2304.0) We have created EQL's... Indicating strong support Level inside the HTF Daily Demand Zone for buyers!
1) Now lets drop down to the LTF 15m TF and we can see how price is currently trading inside this HTF 4Hr Demand zone and I believe this Demand will hold for buyers!!
2) In order for me to go LONG I need to see price break above the 4Hr resistance ($2341.0) & create a nice 15m CHoCh above price ($2344.5) with confirmed candle closures above both levels and then I will be interested in going LONG from the retest of the 4Hr Resistance Level ($2341.0) and Targeting the HTF 4Hr Swing EQ Level ($2356.0) roughly around 150 points in our favor LONG!!
3) I'll keep close update as PA develops and we have more data to work with...
Remember when it comes to FRM (Financial Risk Management) our job is to manage the downside costs of printing High side returns of $$$ consistently... Let's Keep Steppn!!
Stay Focused & Reach Excellence!!
#BHM500K #NewERA #Champions
Gold Poised for Uptrend Following Double-Bottom FormationGold has formed a significant double-bottom pattern on the daily timeframe, signaling a potential reversal of the previous downward trend characterized by three consecutive lower highs. This technical pattern suggests that gold may be ready to embark on a new uptrend.
On the 4-hour and 1-hour timeframes, gold is currently consolidating, indicating a period of indecision before a possible breakout. Traders should watch for a move out of this consolidation phase as confirmation of the emerging uptrend.
Zooming into the 15-minute chart, gold is expected to head towards a demand zone identified between 2334.7 and 2335.8 on the 5-minute chart. This area could serve as a crucial support level, offering buying opportunities for traders looking to capitalize on the anticipated upward movement.
As always, it's essential to trade based on your own analysis and strategy. The double-bottom pattern on the daily chart provides a strong bullish signal, but ensure that your trading decisions are well-informed and aligned with your risk tolerance. If you see the same potential for an uptrend in gold, this could be a prime opportunity to enter the market. However, remember to trade responsibly and take full responsibility for your trades.
Gold BullishGold looking bullish as price is consolidating in this range just below the trendline resistance marked by 3 tests since March. If price can breach 2350 there is room for a continuation to the upside. Not sure if there is or will be any catalyst to push price up and sellers out.
Intraday and STBT Gold and Silver strategy.....COMEX----Gold and Silver.....After US Fed Chair Powell Speaks.....
Trade and Sell Max.....Gold and Silver CRASHED.....
Intraday Call---Gold August Futures---Again Sell Gold 2346.00-2351.00 range....and keep SL 2361.50....and wait TGT1 2326.00.....and wait TGT2 2616.00.....and wait TGT3 2306.00---TGT1 in next few minutes.....
Intraday Call---Silver September Futures---Again Sell Silver 30.120-30.220 range....and keep SL 30.510....and wait TGT1 29.400.....and wait TGT2 29.200.....and wait TGT3 28.900---TGT1 in next few minutes.....
Wyckoff accumulation pattern We are now in the last phase after testing the upper line.
from here we should go up and reach 2387, but i am aiming for for 2368 that's would be 2.5:1 .
today we got Powell speech at the open we will get a good violently to push the price and break the upper line.
Can Gold Close above $2350?Gold (August) / Silver (September)
Gold, last week’s close: Settled at 2339.6, up 3.0 on Friday and 8.4 on the week
Silver, last week’s close: Settled at 29.56, up 0.304 on Friday and down 0.382 on the week
Gold and Silver futures failed to respond to a barrage of supportive economic data through the end of the week, and despite a positive finish, it felt more or less flat-footed. We now look to ISM Manufacturing at 9:00 am CT, and it can be a tough datapoint to balance; metals are used in the manufacturing process, but weaker data is seen supportive to the Fed cutting rates. At the end of the day, we must see a sustained move in Gold out above major three-star resistance at 2348.7-2350.6 and Silver above 29.95-30.12 in order to encourage price action to come out of a constructive bottoming pattern.
Bias: Neutral/Bullish
Resistance: 2348.7-2850.6***, 2355.3-2358.8***, 2369**
Pivot: 2338-2340.5
Support: 2326.8-2329.7***, 2322**, 2312.2-2315.9***, 2304.2-2306.8***
Silver (Sept)
Resistance: 29.70-29.74***, 29.95-30.12***
Pivot: 29.50
Support: 29.40**, 29.25***, 28.90-29.07****, 28.65-28.74**, 27.84-28.08****
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*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.
XAU USD ConsolidationIf we want to go higher, we need take liquidity first. Last week we saw good downtrend, but we didnt hit key levels for growing. Price stoped on range POC wich indicate downside. Gold don't look bearish, but I think wee will take liquidity and then go close gap about 2400.
Buy limit - 2289/2294
Take profit 1- 2335
Take profit 2 - 2362
Take profit 3 - 2380
take profit 4 - 2405
SL - 2376
(CFD)
This is my buy limit. DYOR
Will GC find support around 2330 before retesting highs?GC has been finding strong support around the 2300 mark for months. My hypothesis is that the most recent touch at 2310 last week will be the last test of that level for a while before we test new highs again. There are large lots of resting liquidity between the current value of 2335 and 2330, so I'm going long at 2332 with a 3 point stop loss at 2329. I think 2330 will be a strong support level and bring us up closer to 2350 on the Monday trading session. Taking a 4:1 Risk/Reward here.
6/30 | $GCWill be watching this one more closely. We have been rangebound for awhile now. With contraction comes expansion, and I think we are close to a breakout to new highs.
#202427 - priceactiontds - weekly update - gold futuresGood Evening and I hope you are well.
Quote from last week:
bull case: Bulls see the green support line and want to keep it support and keep the market above 2300/2320. They stalled the market long enough that not enough bears want to push their luck, selling the lows here. They also managed to print 2 bars above the daily ema, which makes the market more neutral.
comment: Keeping this very short bc the tl;dr almost covered it all. Trading range and a descending triangle. Huge support 2300 and until either that or the upper triangle bear line is broken, it’s as neutral as it gets. Buy low, sell high and scalp. 55/45 imo that bears get a breakout below but do you really want to bet on those odds? I don’t.
current market cycle: trading range until 2300 or 2385 is broken.
key levels: 2300 - 2385 / below 2300 comes 2270 in play
bull case: Bulls keeping it above support but can not print consecutive daily closes above the daily 20ema. Will probably see a breakout over the next 1-2 weeks.
Invalidation is below 2300.
bear case: Bears need a strong break below 2300, that’s it.
Invalidation is above 2385.
outlook last week:
“short term: Play the triangle if the support holds. ”
→ Last Sunday we traded 2331 and now we are at 2339. Triangle held. Good outlook.
short term: Neutral. Play the triangle.
medium-long term: For now I think the most reasonable outlook I could give is a trading range 2200-2500. This could hold for some time. Bear in my still thinks this rally is moronic 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: None and won’t enter. Just scalps for me.
Chart update: Made the support more obvious.
Clear Support Areas for GoldPoint & Figure charts are great for illustrating support/resistance.
A break below the 06/07/24 bottom implies a move down to primary support made on 05/03/24.
A break below the 05/03/24 bottom could open the door for a rapid move down to the 2,165 to 2,185 area.
GC1! / Gold / Xau - Idea I.Hey Guys…
Yearly Chart: Bullish Engulfing Pattern
2367 and 2283 are important Yearly FIB levels to watch
Above we find 2485 and 2543
Below we find 2230 and 2150
Quarterly Chart: Bearish Star?
-> Q3 will tell.
-> Stochastics at level 90
monthly: a little weakness after the Rallye - 2 Stars and an Inside Bar - Stachastic is OB and turning.
Will be happy to take a reversal if the signal occurs (using a trading system)
3D: Bullish breakout is generally to be expected. = Neutral to Bullish
2024-06-27 - priceactiontds - daily update - goldGood Evening and I hope you are well.
gold
comment: Daily ema at 2346 and we closed 2339. Bulls can’t close above it and bears can’t break below 2300. Today was strong enough for bulls to try and get a second leg. Measured move is up to 2375ish.
current market cycle: trading range
key levels: 2300 - 2360
bull case: Bulls first target tomorrow is to stay above the 1h ema and then break above 2350. 2350 is big resistance until broken. If they manage to break it, high probability we see 2360+.
Invalidation is below 2300.
bear case: Need a break below 2300. No better arguments for their case. Bears kinda tried down to 2304 but market stalled so long down there, that bears just gave up before EU open and market just melted higher. Was this a buy vacuum produced by bears stepping aside, rather than strong bulls buying? Will find out tomorrow.
Invalidation is above 2350.
short term: Odds favor the bulls for a second leg up but 2350 is big resistance until broken.
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 anything after bar 6 broke above the range and the 1h 20ema.
