GC\Gold 1H Buy Idea 6/17/24Looking for GC/Gold to continue higher from here to at least the previous 1H Highs
**This is for educational purposes only and this is not financial advice because I am not a financial advisor.**
TGM1! trade ideas
US Dollar Bearish So can the HOUSE GO LONG on GOLD now...?COMEX:GC1!
11 When I was a child, I talked like a child, I thought like a child, I reasoned like a child. When I became a man, I put the ways of childhood behind me. -1 Corinthians 13:11
4th of JULY Narrative I am creating on here on GOLD.... As the US Dollar continues to perform Bearish on the HTF's we could possibly catch a LONG Play on GOLD... I have given a well detailed video here on why I believe we could be going LONG!!
***In order for me to enter the Market LONG... I need to see the break and close above the 15m CHoCh level ($2370.5) with confirmed candle closures on the 30m TF N below.... This is the only way I'll enter the market LONG and targeting the unmitigated 4Hr indecision candle above....
1) 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
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
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.
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.
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.
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