Gold futures prices have been capped at 1500.00 for about a week and still struggle to break through that hurdle. It has formed a reliable price channel to the upside with slow but reasonable progress at the bottom of the price channel. Gold prices need to push through 1494.00 and break the major resistance at 1500.00 to proceed to its next target at 1510.00. Gold...
Not excited about GC. It's in the middle of nowhere. Kind of expecting it to head south explore the support region in the green box as it fills in the triangle.
When it gets to the pitchfork median I expect to see some bulls activate. But that's not going to be this week I do not think.
Looking like a sleeper week on gc, would not be surprised if I have no...
for a 2.40 credit.
Metrics:
Max Profit: $240
Max Loss: $760
Buying Power Effect on SPAN: ~$300
Break Evens: 1427.60/1622.40
Notes: Back to the /GC (59/14) well with a delta neutral iron condor with the shorties at the 16's. Looking for 1.20 out of this position (50% maximum).
What I see. Arrows represent monthly and weekly ignition points which broke out of longer term balance area. Defined longer term resistance now can act as support Would love PB. Wait and see.
Gold printed same top as bitcoin, but there is some potential here for a breakout to the upside. The move down seems controlled, which can be seen by strong pushback real quick just 3 days in the new month, which can be seen in the monthly chart. I got a small bearish bias, as this can be a giant distribution trading range. On the other hand, I like gold, but I...
Hello traders! Kick starting with an analysis on XAUUSD to start your day! I have labeled my full Elliot count on gold for your eyes to examine, along with fibs I have dug into this one deep. Let's get right into it.
Starting with way back in 2011 when XAUUSD made its high $1,923.7, Gold closed a sharp bearish hammer leading towards a correction, no one could see...
Hi friends! Welcome to this update analysis on Gold, via the GC futures chart. Let's get to it! In this analysis, we're going to step back and take a multi-decade view of the gold market, to try to understand what's currently happening, and where we may be going.
As you can see, this weekly chart begins in 1975. So, we're looking at 44 years of data. Clearly, we...
Closing out my October gold position, along with November and December delta hedges here for a total of 2.40.
Scratch was 3.50 for the cycle, so a 1.10/$110 gross profit.
Rank/implied is at 58.9/14%, so may consider re-upping in December ... .
Global Safe-Haven Index (SHIX):
Our risk indicator has been enhanced with the inclusion of four new factors, which takes the total inputs to eight.
They now include:
1. Gold Futures
2. TLT ETF (Bonds)
3. Japanese Currency Index
4. Swiss Currency Index
5. S&P Low Volatilty ETF
6. iShares Emerging Markets ETF (Inverse)
7. USDKRW (US Dollar / Korean Won) -...
Here is an excerpt from The Macro Strategist's Parallax Report: QE Lite, You Say?, originally posted on 10.2.19:
Here are the “negative yield” trade. Bitcoin and gold had been the go-to allocation as global negative yielding debt rises (and falls) with the monthly correlation exceeding .70.
BTCUSD began to deteriorate ahead of gold, and this is interesting...
See 1st idea, this is a more likely scenario IMO.
We could go into a range between 1400-1500 for a few weeks or months with a final wick down to the HTF INVH&S before monetary metalst go to the moon.
GC unlikely to be great for intraday trades probably at least until the middle of the week.
It's right in the middle of a triangle consolidation. Expecting it to tag the bottom side then swing back up. I would not be surprised if it tagged the top again 1st since it's in a choppy triangle.
Once it tags an edge of the triangle then I will be aggressive during...
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GC1!
