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Micro Gold Futures (Oct 2022)

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MGCV2022 trade ideas

Commodities WatchHere's a 1-day chart, 1 year view, commodities comparison with the tickerTracker MFI oscillator set to length 20: Gold - bright orange Copper - dull orange Silver - light gray Palladium - darker gray Platinum - white gray Corn - yellow Soybean - green Lumber - brown Wheat - brown yellow Oil - black blue Gas - white Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends... *3x lucky 7s of trading* 7pt Trading compass: Price action, entry/exit Volume average/direction Trend, patterns, momentum Newsworthy current events Revenue Earnings Balance sheet 7 Common mistakes: +5% portfolio trades, capital risk management Beware of analyst's motives Emotions & Opinions FOMO : bad timing, the market is ruthless, be shrewd Lack of planning & discipline Forgetting restraint Obdurate repetitive errors, no adaptation 7 Important tools: Trading View app!, Brokerage UI Accurate indicators & settings Wide screen monitor/s Trading log (pencil & graph paper) Big, organized desk Reading books, playing chess Sorted watch-list Checkout my indicators: Fibonacci VIP - volume Fibonacci MA7 - price pi RSI - trend momentum BBMC - bollinger bands TTC - trend channel AlertiT - notification tickerTracker - MFI Oscillator www.tradingview.com
COMEX:GC1!
by Options360
2
Moderating inflation could further reinforce gold and silverLet’s begin with a recap. In 2022, precious metals were down 4.4% when the S&P500 Index was down 19.4%. That is an outperformance of 13.8% for precious metals against equities. Still, many firm believers of gold were, at times, questioned why gold was not scaling new highs in a year when inflation was doing exactly that. As Nitesh Shah outlines in his model, gold is influenced by four variables. These are: 1. Changes in the US dollar basket (-ve relationship) 2. Consumer price index (CPI) inflation (+ve relationship) 3. Changes in nominal yields on 10-year US Treasuries (-ve relationship) 4. Investor sentiment measured by speculative positioning in futures (+ve relationship) Although inflation was supportive of gold last year, the aggression with which central banks acted to tighten monetary policy strengthened the US dollar and lifted Treasury yields creating headwinds for precious metals. As a result, investor sentiment was also weak (see figures 01 and 02). A shift in sentiment Although the Federal Reserve (Fed) has not yet signalled a dovish pivot, markets are beginning to expect this to happen at some point this year. With the US consumer price index (CPI) inflation falling for its sixth straight month in December and moderating to 6.5% vs 7.1% in November , this market consensus might be reinforced. Even if the Fed remains on its tightening path in the first half of this year, the pace of rate increases could slow down. If inflation figures continue to decline steadily and growth data has not become alarmingly worrying, the central bank may hold its rates at a terminal rate during the second half. Of course, the exact trajectory of these dynamics cannot be predicted. Still, however, market consensus is at least forecasting reduced hawkishness compared to last year. As a result, investor sentiment in gold has been on the rise since November. If Treasury yields and dollar continue to pull back, inflation moderates gradually, and economic data slowly deteriorates, sentiment towards gold as a safe-haven asset could continue to improve. The silver lining Silver often exhibits a leveraged relationship with gold. We experienced this in the twelve months after the March 2020 Covid crash in markets when silver meaningfully outperformed gold while both metals rallied. In 2022, things went in the other direction. As gold’s sentiment deteriorated, investor sentiment towards silver fell even further. And once again, gold’s recovery is enabling silver to bounce back even more strongly. Silver is, of course, affected by the dynamics of industrial metals as well given more than half of its demand comes from industrial applications. This was also a factor for its lacklustre performance last year as industrial metals were pricing in a slowdown in China and recessionary fears across major economies more widely. If in 2023, China’s lockdowns are lifted for good and the economic engine starts firing again, fuelled by accommodative monetary policy, this could be the catalyst for the recovery of industrial metals. It could also spur silver’s rally further. The risk to the view If the Fed takes markets by surprise and continues to tighten into the second half of this year, our base case could be challenged, and gold and silver may face newfound resistance. If the Fed signals such intentions early this year, say, in response to inflation numbers as they become available, these challenges could present themselves sooner. For now, it appears, that inflation is moderating steadily encouraging the markets to believe that so will Fed’s hawkishness.
MCX:GOLD1!
by aneekaguptaWTE
Key resistance is nothing, Gold now at 61.8 Fib levelGold flew pass the key 50% Fibonacci retracement resistance region and ended the week at the 61% Fibonacci retracement resistance region. Price remain extended especially on the weekly time frame. If price continues to move towards the $2,000 price region without retracement or sideway movement, shorting without confirmation may seem favorable. Nonetheless, the 61.8 Fibonacci resistance level is also a key level where short entries should only be taken if there are valid confirmations.
COMEX:GC1!Short
by TrainingTrader
Gold target 1 about to hit and target 2 on the way to $2,004Target 2 is already choosing upside to $2,004 Larger Cup and Handle has formed. RSI >50 >70 Uptrend Now there are a few reasons why the gold price is heading up in January 2023 US Dollar Weakness First we are starting to see a but of U.S. dollar weakness. As the US Dollar weakens, more investors move money into higher-yielding assets, which can lead to a rise in the price of gold. We call these safe havens. The DIXIE is still showing downside based on the last analysis I did with a Head and Shoulders pattern. January Effect January is common to see investors have some form of increased demand for gold. It's based on them offsetting their taxes end of the year and now they want to deposit their money in safer places like gold. Chinese New Year xīn nián kuài lè We also have Chinese New Year coming where it's a tradition giving gold during the holidays. This can also boost demand and the price up.
COMEX:GC1!Long
by Timonrosso