Bias is tentatively Bullish.
Continues to make HLs, but
no HHs, in a tight range. Price
is close to filling in the big
wick the prev. week.
Looking to see if the PWH
is raided early in the week.
If so, I expect price to go
from External ->Internal, down
the the W FVG/+OB area from
there.
But price may need to rebalance
the +FVG before moving higher.
Waiting...
Don't think #GOLD is done by any means.
HOWEVER.......
Sold some positions around the date of bearish engulfing. As of today the precious metal is still @ that price level. We missed a lil more upside but it wasn't much oi the whole scheme of things.
#SILVER shows same exact signs except the Bearish Engulfing.
AMEX:GLD AMEX:SLV
Gold (June) / Silver (May)
Gold, yesterday’s close: Settled at 2388.4, down 19.4
Silver, yesterday’s close: Settled at 28.40, down 0.024
Gold has traded fairly constructive on the week given Friday’s sharp reversal but the overhead supply resulting from this reversal is apparent at major three-star resistance at 2404.3-2408.5 and 2412.9-2414.8. A close...
Technical Momentum Strengthens
Gold Futures hit an all-time high in 2024 at $2,448 on the June futures contract on April 12. Futures remain firmly above the rising 50-day Moving average at $2,184 and well above the 200-day Moving Average at $2,072. The technical perspective shows momentum studies accelerating, with the 9-day moving average gaining momentum above...
Looking for possible pullback on gold futures to 2324.0 level. If so will buy with limit. Sell stop will be 2272. Target is open for now.
Important: Trading commodity futures and options involves a substantial risk of loss.
The recommendations contained here are of opinion only and do not guarantee any profits.
This is for educational purposes.
Past...
Gold (June) / Silver (May)
Gold, yesterday’s close: Settled at 2383.0, up 8.9
Silver, yesterday’s close: Settled at 28.717, up 0.387
Gold futures traded above $2400 and Silver above $29 early in the session but did see a wave of profit taking through the thick of European hours, but are attempting to stabilize ahead of the U.S. bell. The construction off...
Good Evening and I hope you are well.
bull case: 50 points down and 60 points up. Unreal price action for this Market. Bulls bought where they had to, to stay inside the broad bull channel or expanding triangle. Call it what you want, you trade it the same. Since Fridays sell off was so extreme, I rather be humble as a bull and take my profits on weakness. Retest...
Levels recorded at 6:50 PM IST
if Sustain above 2350 then 2365 then 2374 above this bullish, then 2397 to 2399 then 2417 to 2423 or 2429 and last stop would 2447 above this more bullish then
if Sustain Below 2350 then 2333 to 2324 below this bearish then 2302 to 2300 then 2278 below this more bearish
Consider some buffer points in above levels.
Please do...
Spot gold was up 0.3% at $2,350.59 per ounce, as of 0056 GMT. Bullion hit an all-time high of 2,431.29 on Friday.
- U.S. gold futures fell 0.3% to $2,366.40 per ounce.
- The first direct attack on Israel by arch foe Iran has shaken Israelis and left them fearful that a bigger war is looming.
- Recent U.S. economic data on the labor market and inflation have...
In the trading market, being anxious cannot solve the problem.
But be prepared for a long time, don't rush for success, and don't be afraid of being a late bloomer.
Take your time and master the process, don’t rush the results.
Whether it is the trading market or other industries, it all requires a process, and it requires step by step and continuous...
For your Analysis and Study only
Range for positional Trade:- above 2042 we can target for 2439 to 2448
Range for Swing Trade:- - above 2042 we can target for 2259 to 2302
Range for Intraday :- above 2218 we can expect around 117 to 137 Max points movement below 2151 or 2166 we can expect around 71 to 92 Max points movement
Intraday detailed levels as...
The gold price has now reached the levels at which we expect the high of the orange-colored wave c and thus of the turquoise-colored wave B. We anticipate that the price will turn around and then sell off sharply. After all, we consider the current rise to be merely corrective in nature.
Levels recorded at 6:30 PM IST
Today watch for around 2393 and 2388 levels . this are important levels ..
if Sustain above 2393 then 2395 then 2397 then 2413 then 2418 to 2418 or 2419 above this more bullish then 2426 to 2429 then 2437 then 2441 to 2442
if Sustain Below 2388 then 2383 then 2379 then 2372 then 2369 then 2365 to 2364 below this more bearish...
I still am bearish on Gold for next few weeks.
Confirmations:
- Rising Wedge
- Bearish divergence
Entry - 4hr candle close below 2334
TP Range - 2270 - 2260
SL - 2351.2
