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Gold Trading Plan - 07/Dec/2022Hello Traders, Hope you all are doing good!! I expect Gold to go Down after finishing this correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
SAXO:XAUUSDShort
by For3xScalper
Gold: Ready to Shoot?Gold and Silver is money, everything else is credit – JP Morgan Primary Uptrend This guy is not just flaunting these assets but the primary trend in this chart unearths the truth behind his statement. Really strong trend since our childhood – of course not fully visible due to data limitations. A furious rally started since March 2020 dip and took it to 56191 from 38400 (46%) in just 20 weeks – perhaps the fastest one in absolute terms. Harsh Reaction Like any other bull run, this one also faced a harsh reaction from August 2020. Wiped out almost one-fifth of the gains (21% from top) in a 33week time period. Comparing to Mar2020 rally to the top, this reaction was bit slower in terms of time duration. 46% in 20weeks verses 21% in 33weeks. More than just a Pullback Gold pulled back near 50000 mark and created a psychological resistance zone. The pullback gained momentum after breaking this zone and retested all time high zone. This spike was more than just a pullback. The Second Reaction The second reaction started from March 2022 and ended near the prior psychological level 50000. So, resistance turned into a support. This reaction took 28 weeks but the reaction was just 12% from the March top. Comparing with the Aug2020 reaction, this one lacked momentum on the downside – as reaction was smaller in approximately same time period. The price-time analysis of both the reactions suggest that this time sellers were not very active and buyers were busy in accumulation at lower levels. Small and time consuming reactions with sharp rallies are good omen for investors. Momentum Rally The current rally from Sep end 2022 is very swift. The price may face some hurdles near major resistance zone of 56191 to 54789. If the higher low trend persists, there may be further congestion. Theoretically congestions lead to expansions and the bullish nature of the ascending triangle congestion (see chart) signals expansion in the upward direction. If that happens, an immediate target for the triangle could go around 67000. Thanks for reading and don't forget to boost/like.
MCX:GOLD1!Long
by Bravetotrade
3
Sell idea on Gold - H1Gold has printed bearish flag on hourly candle, we expect bearish move if price break the flag for bearish continuation. Note: All ideas forecasts are my personal views on the market, I share these ideas for free, and you're free to share my profile link with your friends, please do not use my Idea without credit. I post and share for educational purposes hence no idea we publish should be considered an investment advice. I mostly share ideas with more than normal conviction, meaning I mostly share ideas with High conviction. You can check all my work, you can understand my style of analyzing market, please if you like my work do help me earn reputation and like, comment on my ideas, we can discuss more here.
FOREXCOM:XAUUSDShort
by CELGIB_TRADING
GOLD SELL IDEA 1HGOLD has been so bullish for several weeks however the current structure suggested signals for reversal to the downside, the yellow horizontal lines are our important key support levels, you can find the raising wedge pattern which is formed and there's a ascending triangle which may signal for bull trend continuation, but based on Hourly time frame, the wedge pattern is broken, hence we'll look for confirmation of our entry, but if the price keep growing we'll wait for the breakout above the triangle to initiate buy orders. Note: All ideas forecasts are my personal views on the market, I share these ideas for free, and you're free to share my profile link with your friends, please do not use my Idea without credit. I post and share for educational purposes hence no idea we publish should be considered an investment advice. I mostly share ideas with more than normal conviction, meaning I mostly share ideas with High conviction. You can check all my work, you can understand my style of analyzing market, please if you like my work do help me earn reputation and like, comment on my ideas, we can discuss more here.
FOREXCOM:XAUUSDShort
by CELGIB_TRADING
#GOLD it's possible to buy#GOLD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance Why we like it: Price is trading in nearby 4hr support area Waiting for bullish candlesticks formed possible to move the next resistance area 1st support: 1683 Next Zone area & horizontal swing Low support 1st Resistance 1820 Zone area & horizontal swing high resistance
TVC:GOLDLong
by Skandhatrade
Golden opportunity to buy some GOLD!!GOLD: The idea for Investment point of view-- As per Elliott I have marked my numbering & shared it here.. Here wave 1 got terminated at the 32500 level & wave 2 got retraced till 26925, where it tested recent support. Wave 3 is in extended mode and got terminated at 56298 & wave 4 got retraced till 44073 ( as I am monthly TF, so I am expecting simple corrections) & currently I am in wave 5 Projections as per fibonnaci-- wave 3 got super extended as shared (extreme bullishness), and wave 4 got retraced to 38% level. Now, let's talk about recent resistance & projections-- Resistance, check TL and if we talk about projections it should be somewhere above 38% to 61% extended till 100% , both chart shared.
MCX:GOLD1!Long
by ShubhamKatiyar
GOLD SELL IDEASELL ONLY AFTER RETEST Note: All ideas forecasts are my personal views on the market, I share these ideas for free, and you're free to share my profile link with your friends, please do not use my Idea without credit. I post and share for educational purposes hence no idea we publish should be considered an investment advice. I mostly share ideas with more than normal conviction, meaning I mostly share ideas with High conviction. You can check all my work, you can understand my style of analyzing market, please if you like my work do help me earn reputation and like, comment on my ideas, we can discuss more here.
FOREXCOM:XAUUSDShort
by CELGIB_TRADING
2
#GOLD it's possible to buy#GOLD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance Why we like it: Price is trading in nearby 4hr support area Waiting for bullish candlesticks formed possible to move the next resistance area 1st support: 1683 Next Zone area & horizontal swing Low support 1st Resistance 1820 Zone area & horizontal swing high resistance
TVC:GOLDLong
by Skandhatrade
Gold seesaws near key hurdles to the northGold prices brace for the biggest weekly jump in three as it stays around the highest levels since mid-August. However, the metal still has some strong resistance ahead before offering a free ride to the bulls. Among them, a 5.5-month-old horizontal resistance area surrounding $1,805 gain major attention as RSI (14) approaches the overbought territory. Should the bullion prices remain firmer past $1,805, the 78.6% Fibonacci retracement level of June-September downside near $1,821 can act as a validation point for the rally targeting the mid-June swing high near $1,859 and then to the June’s peak of $1,879. Meanwhile, pullback moves remain invalid unless the gold price remains beyond the 61.8% Fibonacci retracement level surrounding $1,778. Following that, Monday’s high near $1,763 and 50% Fibonacci retracement level near $1,747 may test the bears ahead of highlighting the 15-week-old horizontal support zone near $1,728. It’s worth noting that the quote’s daily closing below $1,728 could invalidate the recovery hopes and recall the sellers targeting $1,700, as well as July’s trough near $1,680. Overall, gold is likely to witness further upside as it crossed November’s peak but further upside has limited room.
OANDA:XAUUSD
by MTradingGlobal
#GOLD it's possible to buy#GOLD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance Why we like it: Price is trading in nearby 4hr support area Waiting for bullish candlesticks formed possible to move the next resistance area 1st support: 1683 Next Zone area & horizontal swing Low support 1st Resistance 1789 Zone area & horizontal swing high resistance
TVC:GOLDLong
by Skandhatrade