Technical Analysis of GOLD on December 3, 2024

From a technical perspective, I see that Gold has reached a price level that remains attractive for entry consideration.

Let’s review the Gold 1-hour time frame chart below before diving into the analysis:

Price Action Analysis (Trader Pressure)

In the current market trend, GOLD appears to still be in a Bullish/Uptrend condition. However, we must also anticipate a potential trend reversal if the price breaks through the Support area above or consolidates.

By observing the candle history, we can identify buy entry opportunities. To maintain objectivity, I will provide an analysis for both buy and sell entries.

From the chart above, Buyer pressure (long green candles) is gradually pushing the price upward, overcoming the Seller pressure (short red candles), and forming Higher Lows. This indicates that buyers are still dominating the formation of certain price levels. Nevertheless, selling opportunities can also be identified in this Gold market.

Key areas identified on the chart:

• Resistance: Marked by the lines above the price (2664.22 – 2653.46).
• Support: Marked by the lines below the price (2629.15 – 2620.50).

Entry Setup Options

Breakout Opportunity Setup

1. Buy Entry:

   • If the 1-hour candle closes above the upper Resistance boundary (2664.22), prepare to look for the best buy entry position.

2. Sell Entry:

   • If the 1-hour candle closes below the lower Support boundary (2620.50), prepare to look for the best sell entry position.

Stop Loss Guidance:

• For buy entries: Cut loss if the 1-hour candle closes below the lower Resistance boundary (<2653.46).
• For sell entries: Cut loss if the 1-hour candle closes above the upper Support boundary (>2629.15).
• Maintain a minimum risk-to-reward ratio of 1:1.

Pullback Setup

1. Sell Position:

   • Use the Resistance area as the pullback zone.
   • If the 1-hour candle closes within this pullback area, consider a sell position.
   • Cut loss if the 1-hour candle closes above the upper boundary of the pullback area (>2664.22).
   • Apply a minimum risk-to-reward ratio of 1:1.

2. Buy Position:

   • Use the Support area as the pullback zone.
   • If the 1-hour candle closes within this pullback area, consider a buy position.
   • Cut loss if the 1-hour candle closes below the lower boundary of the pullback area (<2620.50).
   • Apply a minimum risk-to-reward ratio of 1:1.

Always implement sound money management strategies in every trade to ensure healthy trading practices. Be cautious of fake breakout candles that may lead to false signals.

I hope this article serves as a helpful reference for your market analysis.

Happy Trading, everyone!

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Technical Analysis of GOLD – December 2, 2024

From a technical perspective, GOLD is currently at a price level worth considering for potential entry points. 

Let’s first review the 1-Hour Time Frame Gold chart below before diving into the analysis:

Using the Price Action (Trader Pressure) approach, the market trend shows that GOLD remains in a Bullish/Uptrend condition. However, we should anticipate potential trend reversals if the price breaks below the Support area mentioned above or consolidates.

Key Observations:

• In the candlestick history, opportunities to enter a Buy position are evident. However, to remain objective, I will present both Buy and Sell entry setups.
• The chart shows that Buyer pressure (as seen by the length of Green candles) gradually pushes the price upward, overpowering Seller pressure (Red candles), forming Higher Lows.
• This indicates that Buyers still dominate the formation of certain price levels. However, Sell opportunities can still be found in this GOLD commodity.

Key Levels:

• Resistance Area: 2654.87 – 2644.81 (marked above the current price).
• Support Area: 2620.03 – 2611.38 (marked below the current price).

Suggested Entry Setups:

1. Breakout Opportunity Setup:

• Buy Entry:
  If the 1-Hour candle closes above the upper limit of the Resistance Area (2654.87), prepare to look for the best Buy entry points.
• Sell Entry:
  If the 1-Hour candle closes below the lower limit of the Support Area (2611.38), prepare to look for the best Sell entry points.
• Stop Loss:
  • For Buy entries, set Stop Loss if the 1-Hour candle closes below the lower Resistance limit (<2644.81).
  • For Sell entries, set Stop Loss if the 1-Hour candle closes above the upper Support limit (>2620.03).
  • Apply a minimum risk-reward ratio of 1:1.

2. Pullback Opportunity Setup:

• Sell Position:
  Use the Resistance area for pullbacks. If the 1-Hour candle closes within the Resistance area, consider a Sell position.
  • Stop Loss: Set it above the upper limit of the pullback area (>2654.87).
  • Use a minimum risk-reward ratio of 1:1, adjusted to your trading strategy.

• Buy Position:
  Use the Support area for pullbacks. If the 1-Hour candle closes within the Support area, consider a Buy position.
  • Stop Loss: Set it below the lower limit of the pullback area (<2611.38).
  • Use a minimum risk-reward ratio of 1:1, adjusted to your trading strategy.

Always apply proper money management to ensure sustainable trading practices, and stay vigilant for potential Fake Breakout Candles.

I hope this analysis provides valuable insights for your market strategies.

Happy Trading, everyone!

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Technical Analysis of GOLD – November 29, 2024

From a technical perspective, GOLD has reached a price level worth considering for potential entry points.

Let’s analyze the 1-hour timeframe chart below before diving into the details:

Price Action Analysis (Trader's Pressure)

Currently, GOLD remains in a bullish trend (uptrend), but it’s essential to anticipate a potential trend reversal if the price breaks below the support area or enters a consolidation phase.

In the candle history, we can observe opportunities for Buy entries, but to maintain objectivity, I’ll provide analysis for both Buy and Sell setups.

From the chart above:

• Buyer pressure (represented by long green candles) is gradually driving prices higher, outpacing Seller pressure (represented by shorter red candles), forming higher lows.
• This indicates that buyers are still dominating the price formation at key levels. However, Sell opportunities may still arise.

Key Levels

• Resistance Area: 2669.83 – 2660.48
• Support Area: 2636.40 – 2626.11

Suggested Entry Setups

1. Breakout Opportunity Setup

• Buy Entry:
  If a 1-hour candle closes above the upper resistance boundary (2669.83), look for the best Buy entry positions.
• Sell Entry:
  If a 1-hour candle closes below the lower support boundary (2626.11), prepare for Sell entry opportunities.

Stop Loss:

• For Buy entry, set Stop Loss if a 1-hour candle closes below the lower resistance boundary (<2660.48).
• For Sell entry, set Stop Loss if a 1-hour candle closes above the upper support boundary (>2636.40).

Risk Ratio: Use a minimum risk-to-reward ratio of 1:1.

2. Pullback Opportunity Setup

• Sell Entry:
  • Use the resistance area as a pullback zone.
  • If a 1-hour candle closes within the pullback area, consider entering a Sell position.
  • Set Stop Loss if the price closes above the upper pullback boundary (>2669.83).
• Buy Entry:
  • Use the support area as a pullback zone.
  • If a 1-hour candle closes within the pullback area, consider entering a Buy position.
  • Set Stop Loss if the price closes below the lower pullback boundary (<2626.11).

Risk Ratio: Maintain a minimum risk-to-reward ratio of 1:1 according to your trading style.

Final Notes

• Always use proper money management to ensure sustainable and healthy trading.
• Be cautious of Fake Breakouts when entering positions.

I hope this analysis provides valuable insights for your market decisions.

Happy Trading, everyone!

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