Get started

GC

Gold - will it shine again?The price of gold has ended the potential correction labeled as ABC. The whole corrective movement has been described in our previous analysis where we had expected the simple correction. Wave C may be finished at 1771 USD where the lower limit of the downward channel has been located. From the technical point of view current rebound may be the first phase of the new impulse wave. The previous support at 1854 USD has been broken again and may confirm the power of the bulls. Currently, the nearest target for the buyers may be set by the upper limit within the channel. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
COMEX:GC1!
by Daniel_Kostecki
Is gold bullish again. Reasearch, setups. ExplainedGold was a safety hedge in an uncertain world. There is no surprise we saw a massive sell-off with Covid vaccines being announced. Both vaccines are still waiting on final FDA approval. The real game-changer however could be Johnson & Johnson's vaccine which only requires one shot and no special refrigeration outside that already widely required for current vaccines. Johnson & Johnson are expected to have interim data on its vaccine sometime in January which could mean emergency use authorization as soon as February. So overall the vaccine news is still very promising. However, the damage to the economy is already done and it will take years to recover after COVID. Despite massive stimulus key economic data is very weak. Middle-term setup Gold was unable to rally even with a weak dollar. It seems last week metal finally rebuilt its correlation with the greenback. MA200 turned out to be a buyers zone. But is it a jerk reaction or gold is trying to start a new wave to the upside? Formation of higher low or kind of base formation is needed to have confidence in buying gold. However, we already can identify a bullish setup: Cycles point we are close to the bottom and new rally. The seasonal indicator is turning to the upside. Valuation model shows gold is undervalued. Technical analysis With that in mind let's have a look at the technical picture. Gold used to follow flagging formations. We had three similar patterns on the weekly chart during the last two years and it played very well. There are early signs gold is getting ready for the next wave up with another flagging formation. The metal reached the Fibo retrace zone that is also near MA200 along with the 2012 bounce highs as support. Technically till gold holds above this zone, there are chances to test 2400 and 3000 in extension given enough time. This is not something that will happen in a few weeks – this trend will likely take place over months, and even years. Breaking below mentioned range is a trend change. Will Gold rally if the Dollar goes up? Let's not forget the huge government debt and potential asset bubble. Gold and Dollar are both means of safe haven. Definitely, under certain circumstances (like mentioned above) they can move in one direction.
COMEX:GC1!
by UnknownUnicorn1156963
2
Gold Recovers Some LossesGold has recovered some of its losses. It got smashed down to 1777, where it was bought back to 1815, finding resistance briefly. This was a level we have identified for months. Next it crossed a vacuum zone to 1836, another level we have identified months ago. This was a sticking point for gold, so it is likely to see some resistance here, at least for today. Currently, it does look like it has rejected this level but its likely to find support at 1815, again. There is no dearth of vacuum zones either way here, and we are sitting at roughly a 50% retracement between relative lows and highs.
COMEX:GC1!
by quantguy
Gold - the end of correction?In our previous analysis, we have mentioned a correction in the gold market. The whole structure has been labeled as ABC where wave C has been forming recently. The wave C may have finished in the area of 1750-1788 USD. In this place, the lower limit within a downward channel is also located. Today the market has rebounded strongly so if the mentioned support is defended a new upward movement may appear. The nearest target for the buyers may be located at the line drawn through the tops or at 1936 USD. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
COMEX:GC1!
by Daniel_Kostecki
2
The question that every Trader is asking When to Buy gold ? Hey traders, here is the analysis for gold When to Buy GOLD ? in the chart you can see we have two level of support in red . if we break the first one , next stop is 1690 than go long for 2021 to correct the whole move . will will accumulate more gold in the next years , because of the devaluation of USD an the other currencies . In the past years all currencies lost their power , but Gold is always here it considered a hedge against inflation . in the next 5 years Gold will reach 3000 + NOTE - Please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit a like. Thanks for YOUR SUPPORT Guys !!
OANDA:XAUUSDLong
by vortextrade
10
More bearish pressure coming on GOLD?In today's analysis, we will understand the possible targets for the bearish movement triggered by the breakout of the previous support zone. -The breakout of the previous support zone gave us a solid idea that bearish pressure was on the way. Before that movement happened, we can see 2 consecutive corrective Structures The first one (the yellow one) of bigger size, and the second one (white dot line) on the edge of it. -If we look at the 4hs chart, we can see that we have two possible levels as target zones. a) The lower trendline of the cloned descending channel or b) The next support zone at 1680 / 1700 -Currently, we can see a small correction going towards the new descending trendline. We think that if the price reaches that zone, a breakout of that structure can be a good short setup with a target on the mentioned levels Thanks for reading!
COMEX:GC1!Short
by ThinkingAntsOk
2
Gold - ABC corrective pattern?Looking at the gold market we may spot a price decline within a potential downward channel. What is more, the whole structure looks like a potential ABC simple correction pattern. If this assumption is correct we could expect that the current wave C may be finished around the support zone at 1788-1750 USD. The C waves are often the strongest ones within a corrective pattern so the current dynamic decline may be characteristic of this wave. The support may also be set by the lower limit within the mentioned channel. It is also located inside the mentioned support area. If the correction is finished the market could start another upward movement as the next impulse wave. ________ Daniel Kostecki, główny analityk Conotoxia Ltd. (usługa Forex Cinkciarz.pl) Powyższa publikacja handlowa nie stanowi rekomendacji inwestycyjnej ani informacji rekomendującej lub sugerującej strategię inwestycyjną w rozumieniu Rozporządzenia (UE) nr 596/2014 z dnia 16 kwietnia 2014 r. Została ona sporządzona w celach informacyjnych i nie powinna stanowić podstawy do podejmowania decyzji inwestycyjnych. Ani autor opracowania, ani Conotoxia Ltd. nie ponoszą odpowiedzialności za decyzje inwestycyjne podjęte na podstawie informacji zawartych w niniejszej publikacji. Kopiowanie bądź powielanie niniejszego opracowania bez pisemnej zgody Conotoxia Ltd. jest zabronione. 81 proc. rachunków inwestorów detalicznych odnotowuje straty pieniężne w wyniku handlu kontraktami CFD u niniejszego dostawcy. Zastanów się, czy rozumiesz, jak działają kontrakty CFD i czy możesz pozwolić sobie na wysokie ryzyko utraty pieniędzy.
COMEX:GC1!
by Daniel_Kostecki
What happened to the Previous all-time highs on GOLD 2008?Today´s post is about taking previous situations and analyzing the similarities of them to current conditions. Why? because “History Doesn't Repeat Itself, but It Often Rhymes” – Mark Twain. Please be open-minded to the idea that this is a Hypothesis, and of course, the price can take any direction from here. But we see similarities that we want to take into consideration in case something similar happens. First of all, let's analyze the current scenario starting on the Weekly chart: Here we can see the price making new all-time highs in relation to the previous one. After the first impulsive breakout, we can see a retest of the zone, and currently, we are in a consolidation phase. The most relevant aspect here is that (Now go to the Daily chart) the yellow lines represent an ABC pattern (flag structure), which is considered a continuation structure. In this case, from a technical perspective, we should expect a bearish movement. If the price breaks below the structure Another important item is that we can see a small consolidation on the edge of the yellow structure (purple lines). If the price reaches the beginning of the red arrow, we will take it as a confirmation of the situation. And we will expect a -10 Bearish movement from current levels. Great, that's another analysis on GOLD. But the interesting thing is observing the 2008 All-time Highs. Let's start again with the Weekly chart: After the price made a new All-time Highs compared to the previous one, the price corrected -34.8% before the new rally. Taking that as the model in which GOLD breaks previous levels and continues, we should assume that the consolidation phase is not finished yet. Let's see the Daily Chart: Here we see similarities to the current scenario. Observe the yellow lines that create an ABC pattern (Flag Structure), Which is considered a continuation pattern. After the breakout of the structure, we saw a -15% correction. The whole corrective Phase on GOLD before the new rally took almost 1 Year. The only objective of this is to provide you with a more broad view of GOLD if you trade this asset. Thanks for reading!
COMEX:GC1!
by ThinkingAntsOk
2
Can we think of a short outcome on GOLD ?This post is aimed to provide a logical way of thinking of a short scenario on Gold. a) The elements or tools we will use to understand what is going on here are Multi timeframe analysis + Support and Resistances + Trendlines + Corrective structures. Just that, let's start. b) Take a look at the Weekly Chart Using this as the Big view, we can deduce that the price Surpassed the Previous all-time highs zone and then went back below. When the price was going up again, breaking the corrective structure (we will see it better on the Daily chart), Pfizer told the world about their Vaccine, and, exactly there is where we can see the "Possible Bullish Fake out" We say possible because the week is not closed yet, we have more days until is finished. c) Now, we will return to the Daily chart. The bearish items we can see here are: Broken Ascending trendline + Reversal on a Weekly Resistance zone. If we take the idea that the price moves between zones of the same degree. We should expect a bearish movement towards the next relevant level. (in this case, the next support zone or the ascending channel) d) Are we saying that this will happen right now? No, we are not. We need a filter before taking the short view e) In this case, we will pay attention to the current corrective structure (the yellow lines that converge). If the price breaks below that level (on the red line), we can deduce that all the stops from people that take long positions will be executed and we have a clear path towards the next level. f) It is important to say that our Main view on Gold from a long term perspective is LONG; we don't consider this possible bearish movement we are waiting for as a signal of a new long term bearish trend starting. g) Remember: This type of views are maps of possible movements, are not statements of what should happen; use it as another view to have a broad vision of possibilities so you can make a more robust decision on how to act Have a great day, guys!
COMEX:GC1!
by ThinkingAntsOk
2
Gold - waiting for another declineThe price of gold has been consolidating around 1900 USD since the beginning of October. The current consolidation looks like the one observed in August. When it has finished the price dropped and the new consolidation has been created. If the scenario repeats itself we may expect another drop as wave C. Then the whole correction labeled as “ABC” could be finished and the price of gold may begin another upward movement. This scenario could be confirmed by the USD 1936 breakout. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
COMEX:GC1!
by Daniel_Kostecki
Gold Daily : 20 Oct 2020As Gold made an attempt to break the resistance we have mentioned in yesterday's analysis but failed to sustain the momentum. We could have seen the rapid selloff later in the session which continued all the way down to the 1900 area we pointed out yesterday. The 1900 level will play the key role as a support and if it breaks we can expect continuation lower. Above the current price point, we have 1910 which is the weekly pivot point and vwap, this level sticks out at key resistance for a continuation lower. Important zones Resistance: 1910, 1918 Support: 1897, 1885 Macroeconomic releases X
COMEX:GC1!
by FTMO
2