Today our AI has generate a strategy for trading GOLD future (GC1!) and XAUUSD which are two scenarios: Buy and Sell.
For Gold future (GC1!), strategy of Buy side or Bullish is Entry: 2113.5, SL: 2108.5, TP: 2123.5 and strategy of Sell side or Bearish is Entry: 2123.5, SL: 2128.5, TP: 2113.5.
For the XAUUSD, strategy of Buy side or Bullish is Entry: 2122, SL:...
Its been years of waiting and I think it is about time!
Gold is rotating back and should finally close the week outside of the constipation box (yellow).
MACD and VolDiv are crossing above and should be supporting a rise in Gold.
New target for this run, 2600 (Jan 2025).
Heads up!
Bullish narratives I've seen published online over the last couple of years:
1. Gold is a hedge against inflation
2. BRICS Currency-it will be backed by gold
3. China is hoarding gold
4. Central banks are gobbling up gold
Given all these narratives, one would think gold has some pretty strong tailwinds yet it has had 3 breakout failures since these narratives...
In the last week, the inflation data influenced the significant growth of gold.
Along with gold, investors are turning their attention to cryptocurrencies and especially Bitcoin.
The last record in the price of gold is from December 4, 2023. Gold was then trading at $2,144.55. Gold added over $70 to its price today, making it the highest it has been this year....
Another share from the TTR, this time is a commodity chart - #GC
Beautiful move up on Friday!
The price has stopped right at the trendline support; there is one more resistance box above it. When/If it is broken, we will see the next trendline tested again, followed by a breakout box.
This is a very bullish action as if the price continues to break out, then...
GC created nice 15M bullish breaker aligning with 15M FVG. I will be targeting weekly equal highs as a draw on liquidity. 1:2 RR would be available in this trade
Good evening and i hope you are well.
Interesting day today. Very strong move by the bulls above many bear trend lines. The first move to 2046 happened exactly in the Globex session as i said but the spike to 2058 was so big, that all bears had to give up. I expect follow through.
Quote from yesterday:
At 2046ish are 3 magnets: upper bear trend line, 1h 20ema...
gold forecast. We believe that 3 downward waves have been completed after 5 upward waves since October 2023. So we would now be in a new wave to the upside, targeting 2150.
-This week I've had an overall bullish bias for Gold to head to the PWH after we put in a fractal swing low on the weekly, confluence with wicking below several weekly lows.
-Although today's Daily candle close isn't super strong, I'm still leaning towards looking for longs.
-Daily candle rejected from the Daily +OB again, and also failed to displace and close...
In reviewing the chart, I've observed a recurring descending triangle pattern. Despite numerous attempts to break out, the pattern has consistently failed. My entry point stands at $2042.7. For the exit strategy, I plan to set the price slightly above the last swing high, while aiming to secure profits at the last swing low.
Entry: $2042.7
Exit: $2045.8
Take...
On a 1-hour timeframe, we are currently in a bearish flag pattern. The green box represents a significant resistance line, so trade caution if you are considering opening long positions. Additionally, there is a decrease in trading volumes, which is also term for short move.
The trading setup may involve entering the market within the flag pattern, considering...
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