Gold is expensive by fundamental also m30 show clear double top with possible bearish engulfing on neckline
Gold daily still down trend so this is not against big trend entry
As mentioned in our previous post, Gold was mildly overextended and price recovered most the the prior movement.
Gold closed the week above the minor resistance at 1853 and looks to push towards 1873 region or even the 1890 region.
However, if price were to fall below the 1820 support region, Gold may potential dip towards the next support region at 1790.
COMEX: Micro Gold Futures ( COMEX_MINI:MGC1! ) and Gold Options ( COMEX:GC1! )
Gold is often hailed as an effective hedge against inflation. It generally increases in value as the purchasing power of the US dollar declines over time. Does this still remain true? Since January 2013, the US Consumer Price Index increased 29.4% cumulatively, while the 10-year total...
gold price is expensive by fundamental
short this product have an edge in my opinion
price is now on 4H supply zone
it might seem like breakout on m30 but i think when retail buy big man sell
I love RR here so it ok for me to short here
On GC1 as you see on the chart we have the breakout with force the support line and also the breakout of the vwap indicator so it's mean that we will have a big probability to have a downtrend.Thanks!
Based on my strategy i think . that the gold will fall down . if it doesn't then nothing will stop him from going up like a rocket .
AS ALWAYS LET YOUR RISK MANAGMENT PROTECT YOU
COMEX:GC1! is traiding since Sept 2020 in range between 1690 und 1985. Currently the price action is the upper range limit. A analysis of COT index indicates a short signal, which comes along with high open interest oscillator. This two indicators my forecast a reversal of the uptrend COMEX:GC1! . Since the price shows a still a stable uptrend (price is above...
In this update we review the recent price action in the Gold futures contract and identify the next high probability trading opportunity and price objectives to target
daily timeframe is still impulsive down wave
on m30 price move up strongly very fast to hit supply zone but still below previously weekly VWAP
m5 show rising wedge pattern to confirm entry
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After forming a double bottom structure, gold quickly broke through the resistance level of $1820 and rose to around $1826 before pulling back to $1820. Therefore, $1820 has now become a support level, and there are currently two main resistance levels, one around $1826-$1828 and the other around $1832.
Based on this, for today's trading, I suggest buying at...
