goldsold at this time start down trend and it can touch 2300
if 2300 dollar is lost, it can continue down trend to 2220-2200 dollar
TGM1! trade ideas
Gold AnalysisThis is not a trade advice but rather our own view on the Gold. So , what we are sharing here is not an invesment advice. In this post, we analyse the Gold and it potential future bullish move.
Gold reacting to resistance line $2400 before Distribution phaseThe chart suggests a strong uptrend in gold prices with potential resistance around 2454.2 USD. Monitoring how the price behaves at this resistance will be crucial for future predictions. A break above could signal further bullish movement, while a reversal could indicate a pullback to lower support levels.
Bullish Scenario: If the price breaks above the high resistance level of 2454.2 USD, it could indicate a continuation of the uptrend, potentially reaching higher levels within or above the channel.
Bearish Scenario: If the price fails to break above the resistance and reverses, it may pull back to the nearest support level around 2174.6 USD or even lower to 2073.9 - 2011.7 USD.
GC / Gold / XAUUSD 1hr narrative for 17-JunWe are in a range since the 10th of June.
We never trade in the middle of the range.
We can see that price is consolidating and preparing for expansion.
I would look for a short at the top of the range after a bullish sweep (also referred to as manipulation) and then anticipate price to go lower.
However, as this range has seen a lot of volume, the bears may not have much momentum before the bulls get in the driving seat.
Note to self and every deliberate and disciplined trader.
Don't long at the top of the range, even if ti feels tempting. Similarly, don't short at the bottom of the range if you don't want to become liquidity.
Let price show its hand. The higher time market structure clearly tells us we are bullish. Be conservative, don't try to short when the overall structure remains agressively bullish.
Honour your experience, if you don't know what to do, or feel confused, SIT ON YOUR HANDS. Doing nothing will make you money.
It is very likelyt that price will attempt to breach the ATH.
Have patience, wait for retracements before entering into bullish trades.
FOMO = Losing money.
Know your reptilian impulses, witness them, for it is only you, the beautiful human who is capable of looking at the workings of your own brain.
GC / Gold / XAUUSD 4hr narrative for 17-Jun
- Price has retraced from ATH back to the origin of the move.
- 2nd tap sent the price up on 13-14 Jun.
- Some retracement expected back to the imbalance 2332 before it goes higher with perhaps the next strong rejection at the imbalance 2368.
back testing king aaronfilled the liquidity, with a bullish to the upside. broke and retested the trendline and proceeded to the upside and the consolidation came afterwards
Crossover strategy for shortsThis is my goto setup for short or long. This just happens to have set up for gold short starting next week. 4 prerequisites: short moving average crosses below long moving average, price falls and then recovers to touch the slower moving average, price closes below the body of the previous candle, then hopefully prices pulls back again to allow one to get a better price for shorts. All prerequisites have been met, so I am looking for traction to the short side on gold for Monday at least, possibly persisting into midweek.
GOLD 2-week ProjectionGold sitting at major support level inside a trading range on the daily chart but where will it go from here in the next few days? Price currently trading inside a downward channel/wedge. Will we get some momentum to push higher? The beginnings of a possible butterfly pattern starting to form indicating a bullish move up to the top of the trendline with a chance to fake out long and continue down to a key fib level before breaking out again or continuing its price action inside the wedge.
I'm back.XAUUSD has risen beyond the expectations of many, it has stayed strong and the trend has not changed. Let me predict every turn it takes and follow my channel again.
GC Buy Stoptook a nice set up during london as Im trying to get used to trading London as I did back in 2017-2020
Red Folder News at 10 est. Keep that in mind Only targeting 1:1 on this... always 40 ticks risk
2024-06-13 - a daily price action after hour update - goldGood Evening and I hope you are well.
gold
comment: This does look a lot more like a trading range than a market who want’s to have it’s third leg down. 2300 continues to be big support and until that is clearly broken, it’s a buy at that price. For the pull-back to stay below 2360 is bearish. So market has arguments on both sides and that is why we can expect more sideways price action until that range is clearly broken.
current market cycle: trading range
key levels: 2300 - 2360
bull case: The longer they can keep it above 2300, the more neutral the market becomes and the odds for a breakout to either side become 50/50. Market is in balance here, so no good arguments for higher or lower prices. The current bear channel is reasonable and maybe the bulls are favored down here to trade it back to around 2330 tomorrow.
Invalidation is below 2300.
bear case: Need a break below 2300. No better arguments for their case either.
Invalidation is above 2360.
short term: Completely neutral inside given range.
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: Yeah just a weird day. Expanding triangle first and then another big sell against the 1h 20ema.
GC 1H Buy Idea 6/12/24Looking for price to return to the previous 1H high around 2335 for a retest and possible bullish continuation. This area is also around the 61.8-71.8 FIB levels.
**This is for educational purposes only and this is not financial advice because I am not a financial advisor.**
GOLD SPOT UPDATE AHEAD FED POLICY EDU PUR.gold spot stya abv 2330 looks 2340-45$ where support 2325 if blw thna again dwn side mark will start till 2300+++++ in mcx 71900 abv looks 772200-300 possible
$GC Wyckoff DISTRIBUTION STRUCTURE CONIFIRMED!Hello guys,
please take a look at the chart at 4H and on DISTRIBUTION STRUCTURE by Wyckoff.
you can notice the similarity.
I think we are in the final stages of going down, we already reached MSOW so yesterday movement from interest rate was the last retest (LPSY) before the new low.
Tell me what you think :)
Gold Futures Technical Analysis - 15M Chart
Hey traders, here’s the scoop on Gold Futures:
The price is currently trading around $2,329.5, just below the 21 EMA (yellow line at $2,332.7), indicating potential bearish momentum on this timeframe.
There’s a recent downward movement with the price testing the trendline support.
Entry Strategy:
Short Position: Look for a pullback to the 21 EMA ($2,332.7) and ensure a strong bearish candle closes below this level. That’s your potential entry point confirming bearish momentum.
Long Position: If the price holds above $2,329.3 and breaks above the 21 EMA, look for a strong bullish candle as confirmation for a potential long entry.
🎯 Profit Targets:
Short Targets:
Target 1: $2,329.3
Target 2: $2,311.8
Long Targets:
Target 1: $2,345.1
Stop-Loss:
For shorts, set your stop-loss just above $2,332.7.
For longs, set your stop-loss just below $2,329.3.
Textbook example of a rectangle in the making in GoldIf this pattern completes with follow-through, this might become one of the most classic rectangles in the history of classical charting
