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A look into the Weekly Chart on Gold Futures by ThinkingAntsOkUse this as a guide to develop your view of the chart: Main items we can see on the weekly timeframe: a)The price has achieved our Weekly Target which was the Fibo Extension of the 3rd Motive Wave / On the same zone we detected a resistance before 2015 b)Now we expect a corrective Structure similar to the previous one. From there, we will make new conclusions c)By now, our only task is to wait and have enough information to develop a new setup (check the link to related ideas to see the previous forecast.) d)Using Elliott Wave Theory, we can conclude that the five motive waves are completed, and a correction should come.
COMEX:GC1!
by ThinkingAntsOk
2
Daily Analysis on Gold Futures (GC) by ThinkingAntsOkUse this as a guide to develop your view of the chart. Main items we can see on the Daily Chart: a)Our Count for the whole movement is a 12345 with a 5th on process b)Currently, we are on a corrective zone, similar to the previous one (check the circles) c)We think that the current corrective structure is a pennant pattern composed by ABCDE with a D on the process and a C remaining. d)We will be waiting for the finalization of the corrective structure before developing a long trade towards the Daily Target. Weekly Vision:
COMEX:GC1!
by ThinkingAntsOk
2
Daily Analysis on Gold Futures (GC) by ThinkingAntsOkUse this as a guide to develop your view of the chart. a)Our Main analysis on Gold is the Elliott count (12345) with a remaining 5th towards the Fibo extension at 1640. b)Currently, we forecast a correction similar to the previous one on the chart c)We will wait for a clear shape before developing new trades on Gold d)Our objective is to catch the next motive way towards 1640 with a risk-reward ratio equal to or higher than 1.5 e)By the moment we will keep waiting until this formation is clear enough to start thinking on the long setup.
COMEX:GC1!
by ThinkingAntsOk
1
GOLD Look Ahead for week starting 1/26/20Gold is in a long-term Bull Market with price trading above the 50 week ema, which is above the 200 and 800 week emas. The long term emas are currently still trending up, despite price action correcting over the last several weeks. The weekly candles show no indication of a top here. Price would have to drop all the way down to close below 1517 in order to be considered to be correcting on the weekly charts. The Commodity is in a long-term Bull Market with price trading above the 50 day ema, which is above the 200 and 800 day emas. The 50 day ema is currently up trending, with Gold trading up in a strong b-wave flat that traded over the previous highs of 1557.10 before trending down again. Price has been testing the 13 ema, currently at 1554.77, almost daily over the last two week, although it has yet to close below it. In an Elliott Wave flat correction the c-wave trades down below the a-wave low, which is at 1445.50, so expect the down-trend to head back down there before completing. The Commodity is in a Bull Market on the 4 hour, with price above the 50 ema, which is above the 200 ema, which is above the 800 ema. The long term emas have trended up here as price has consolidated sideways and up within this accumulation / distribution zone. Price this last week has mostly stayed above the 9/13/30/50 emas, but a break down below the 50 ema would lead to a test of the 200 ema at 1530. The Gold market is trying to finish out the b-wave of a greater x-wave, and at this point can be considered to be done. The question is will gold put in an additional wave up to test the 61.8% retracement, at 1584.22, of the wave down from the top at 1611.50. After that the c-wave should start to complete this x-wave. This is my GOLD look ahead for my own trading purposes. COMMODITIES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
TVC:GOLDShort
by Cincinnatuus
1
GOLD Look Ahead for week starting 1/19/20Gold is in a long-term Bull Market with price trading above the 50 week ema, which is above the 200 and 800 week emas. The long term emas are currently still trending up, despite price action correcting over the last couple of weeks. Last week was a spinning top, which corresponds with the sideways correction we experienced, and invalidates the shooting star from the week before as The Top. Price would have to drop all the way down to close below 1508 in order to be considered to be correcting on the weekly charts. The Commodity is in a long-term Bull Market with price trading above the 50 day ema, which is above the 200 and 800 day emas. The 50 day ema is currently up trending, with Gold trading up in a strong b-wave flat that traded over the previous highs of 1557.10 before trending down again. In an Elliott Wave flat correction the c-wave trades down below the a-wave low, which is at 1445.50, so expect the down-trend to head back down there before completing. The Commodity is in a Bull Market on the 4 hour, with price above the 50 ema, which is above the 200 ema, which is above the 800 ema. The long term emas have flattened out here as price has corrected down from the new high, and the shorter term emas are all converging, warning of an accumulation / distribution zone. Price this last week has mostly stayed above the 9/13/30/50 emas, but a break down below the 50 ema would lead to a test of the 200 ema at 1520. On a trading time frame, the Elliott Wave pattern was a b-wave tracing out across the range of the prior a-wave’s 5th wave, and needs to finish out a c-wave up before completing. It looks like gold needs to roll over and go down to test the lows before having a chance at making another run at the recent highs. This is my GOLD look ahead for my own trading purposes. COMMODITIES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
TVC:GOLDLong
by Cincinnatuus
GOLD Look Ahead for week starting 1/12/20Gold is in a long-term Bull Market with price trading above the 50 week ema, which is above the 200 and 800 week emas. The long term emas are currently still trending up, despite price action correcting over the last week. As geopolitics with Iran has settled down price has corrected back down. Price would have to drop all the way down to 1500 in order to be considered to be correcting on the weekly charts. Other factors affecting the price of Gold such as recent Dollar strength and FED Repo/QE programs pumping liquidity, have become headwinds or are having a lesser impact now that we are in the New Year. The dollar has a little higher to go in the week ahead, so expect Gold weakness as a result. The Commodity is in a long-term Bull Market with price trading above the 50 day ema, which is above the 200 and 800 day emas. The 50 day ema is currently up trending, with Gold trading up in a strong b-wave flat that traded over the previous highs of 1557.10 before trending down again. In an Elliott Wave flat correction the c-wave trades down below the a-wave low, which is at 1445.50, so expect the down-trend to head back down there before completing longer term. The Commodity is in a Bull Market on the 4 hour, with price above the 50 ema, which is above the 200 ema, which is above the 800 ema. The long term emas have flattened out here as price has corrected down from the new high. With price breaking back above the 9 and 13 emas, gold has technically went back into a bull market. On a trading time frame, the Elliott Wave patterns start becoming more recognizable, and point to a degree of caution in the near term. It looks like gold needs to roll over and go down to test the lows before having a chance at making another run at the highs. This fits in with the trend and position of the dollar, and likely timing on tensions in the Middle East. This is my GOLD look ahead for my own trading purposes. COMMODITIES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
TVC:GOLDShort
by Cincinnatuus
GC PLAY - PENGUINS ARE READY FOR 2020:) GBPCAD 1/1/2020 Hello Traders! We would like to show you a game... While Penguins are on the hunt, you can easily join them as well! It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs. Targets are marked on the chart as a crosshair. Heart in the box - a place to jump in/out Sign with exclamation mark - places to be aware of a few different types of reactions from this level Target sign - the first target to focus on Thunder sign - spot to react - possible jump to push into reversal Penguin - expected direction Have fun with it, and remember - this game is about the patience. Keep yourself cool, whilst not being greedy. Like it if it was helpful to you. We appreciate the likes and comments. Provided feedback helps us with the future service. Got questions? Feel free to PM us! Thank you for your attention, GOD BLESS U ALL!
by Snipers-Academy
Daily Analysis on Gold Futures + Trade Idea by ThinkingAntsOkUse this a guide to develop your setup Main Items we can see on the Daily Chart: -Price has broken the Pennant Pattern -We expect a continuation of the up movement towards the Bullish daily target -Before setting orders, we will wait for a Throw-Back to the broken trendline or a support zone -If that happens we will set our Orders Above the last motive wave and our Stop below the whole structure or below the Throw-Back. Our main target will be the one visible on the chart
COMEX:GC1!Long
by ThinkingAntsOk