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GD1! trade ideas

Gold Market Update: Key Support Levels to Watch This Week This week, the gold market is showing signs of potential recovery as prices dip into key demand areas. Currently trading at a discount, gold may find support around the $2,300 to $2,400 range. These levels are crucial to monitor as they historically represent strong buying interest and could act as a springboard for price stabilization or even a potential rally. As always, keep an eye on broader market indicators, including economic data releases, geopolitical developments, and currency fluctuations, as they can significantly influence gold prices. Traders should remain vigilant and consider these support levels when making informed decisions.
COMEX_MINI:MGC1!Long
by MOTIONCAPITALTRADING
The #1 Reason Gold has hit New HighsGold is a store of value, and its real money when the price of gold goes up, this is not a good sign for the economy. It means your local banks are buying it Because the people have lost faith in the currency because they are not saving their money in the banks. You see for a currency to have "Power" you have to save it in the bank account This is the only way that you can give your currency power if you are not saving it, it means the banks are going to buy Gold In order to stay in the banking business Have you noticed the Rocket booster strategy? it has 3 steps, if you want to learn more about this powerful technical analysis tool, i used on this Gold chart Rocket boost this post to learn more. Gold is a very valuable metal and so is TVC:SILVER this is the best time to get in before the federal reserve drops rates. Thank you for reading. Disclaimer: THis is not financial advice , you will lose money in trading wether you like it or not.Please learn risk management and profit-taking strategies.
COMEX:GC1!Long
by lubosi
This is why gold's breakout stopped dead in its tracks at an ATHThe combination of dovish Fed comments and a softer inflation report from Canada excited gold bulls enough to send spot prices convincingly to a record high on Tuesday. It was gold's best day in 4 months and closed near the high of the day. Yet it couldn't quite stretch to $2370. And here is why... The front-month adjusted futures contract for gold rallied in tandem with spot prices, yet failed to test its own record high set in May. And until it does, I remain suspicious of runaway gains for spot gold prices. in fact, it raises the odds of a pullback for gold. We're not looking to be bearish gold, as the breakout is solid, market positioning remains convincingly bullish without being a sentiment extreme and fundamentals support higher prices. But intraday traders should at least be aware of resistance on the futures contract, to manage their own expectations for spot gold prices if nothing else.
COMEX:GC1!
by CityIndex
2024-07-16 - priceactiontds - daily update - goldGood Evening and I hope you are well. comment: In my weekly post I expected a pullback to the bull trend line and that bulls would buy it again. That happened and then some. Very strong buying and market is right under prev ath 2477.1. It’s strong enough to expect more upside and we can probably print 2500 tomorrow. Where are the bears? Gone and waiting for bulls to start profit taking. You will see consecutive big bear bars and know when they appear. Will be a decent tripple top to short. current market cycle: trading range key levels: 2300 - 2500 bull case: Bulls want a new ath and all the stops too close above it. 2500 would be a nice round number to reach. After that I don’t have anything for the bulls. It’s a trading range since April and such big trading ranges happen before the final flag and this one here is probably it. I would not bet on another strong bull trend above 2500. Invalidation is below 2400. bear case: Bears stepping aside enough and letting the higher high happen. They will probably wait for the bulls to begin the profit taking before shorting aggressively. Since the highest monthly close is from May and below 2350, I don’t have much arguments for the bulls until they close a month above that price. Invalidation is above 2510. short term: Bullish af. Don’t look for shorts. Go long on strong momentum and see how high this can go. 15m 20ema is my stop on any long as long as it holds. 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 dumb and we will see 2000 again this year but that’s as unreasonable of an outlook one could hold so DON’T. —adjusted 2450 to 2500 current swing trade: None trade of the day: Long anything around the 1h 20ema.
COMEX_MINI:MGC1!Long
by priceactiontds
Can the HOUSE SHORT GOLD from 4Hr Supply/78.5% Daily Fib. Level?COMEX:GC1! "Excellence is not a singular act but a habit. You are what you do repeatedly." -Shaquille O'Neal Top of the Morning Family! As we approach the start of a new trading week 2nd week in July, I have drawn out this Narrative to Possibly SHORT GOLD if we can get buyers to push price up into Higher Premium Pricing on the DAILY Fib... Below I will give a brief description into what I'll be looking for in order to go SHORT on this asset. I am expecting a bunch of Volatility in the markets this week as Donald TRUMP was so called shot at yesterday in a failed attempt at his presidential rally while speaking to the masses... 1) Price is caught on the HTF in between 70.5% - 62% Daily Fib. Levels... Buyers have created a huge 4Hr Bear indecision candle that I Believe will Hold to support more buyers into pushing price into HIGHER Premium Fib. Levels... 2) Now if we can get this 4Hr Demand zone to Hold at 62.0% Fib. Level. and Buyers push price Higher into Mitigating the 4Hr Supply Zone / 78.5% Killzone Fib. Level above, I will then drop down to the LTF'S and wait for a confirmed 15M CHoCh and then look to scale SHORT after the mitigation of these levels have been completed.... 3) Now if we can get these sequence of events to take place I will enter off a confirmed 15m Bear CHoCh and look to target 62% Fib Level... Roughly around 250-290 Pts SHORT IN our favor... Also price needs to be trading underneath the RED Vwap on the 1Hr TF and below as a last min confirmation to enter the market SHORT .... ****Please remember we have to pay very very CLOSE attention to the US DOLLAR as they do trade against each other.... Whenever I am looking to trade GOLD I always pay attention to where the US DOLLAR could potentially be headed as well! NVR FORGET!! 4) 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
COMEX:GC1!Short
by TreyHighPwr