Technical Analysis of GOLD – December 20, 2024

From a technical perspective, I see that the GOLD commodity is currently at a price level worth considering for potential entry points.

Let’s examine the 1-hour time frame chart for GOLD before diving into the analysis:

Using Price Action (Trader Pressure) analysis, we can observe that GOLD remains in a bullish/uptrend. However, it’s important to anticipate a possible trend reversal if the price breaks the support area or enters a consolidation phase.

Looking at the candle history, there are opportunities for buy entries, but to remain objective, I will provide an analysis for both buy and sell entries.

From the chart above, buyer pressure (represented by long green candles) has gradually pushed the price higher, with minimal resistance from sellers (shorter red candles), forming higher lows. This indicates that buyers continue to dominate price formation at certain levels. However, sell opportunities can still be found within the GOLD market.

Key Levels:

• Resistance Area: Marked above the current price, between 2623.15 – 2610.53.
• Support Area: Marked below the current price, between 2676.07 – 2662.45.

Entry Setup Options:

1. Breakout Opportunity Setup

• If the 1-hour candle closes above the upper boundary of the resistance area (2623.15), prepare to find the best buy entry.
• If the 1-hour candle closes below the lower boundary of the support area (2662.45), prepare to find the best sell entry.
• Stop Loss (Cut Loss):
  • For buy entries: If the 1-hour candle closes below 2610.53 (the lower resistance boundary).
  • For sell entries: If the 1-hour candle closes above 2676.07 (the upper support boundary).
• Apply a minimum risk-to-reward ratio of 1:1 for all trades.

2. Pullback Setup for Sell Entries

• Use the resistance area as the pullback zone.
• If the 1-hour candle closes within the pullback area, consider taking a sell position.
• Cut Loss: If the 1-hour candle closes above 2623.15 (the upper boundary of the pullback area).
• Apply a minimum risk-to-reward ratio of 1:1.

3. Pullback Setup for Buy Entries

• Use the support area as the pullback zone.
• If the 1-hour candle closes within the pullback area, consider taking a buy position.
• Cut Loss: If the 1-hour candle closes below 2662.45 (the lower boundary of the pullback area).
• Apply a minimum risk-to-reward ratio of 1:1.

Always implement proper money management to maintain sustainable trading practices. Stay vigilant against potential fake breakout candles to avoid unnecessary losses.

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

Happy trading, everyone!

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Technical Analysis of GOLD for December 19, 2024

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

Let’s take a closer look at the Gold 1-Hour Time Frame chart before diving into the analysis:

Price Action Analysis (Trader Pressure)

Based on the market trend, GOLD appears to remain in a Bullish/Uptrend condition. However, it's crucial to anticipate a trend reversal if the price breaks through the Support area or enters a consolidation phase.

By analyzing the candlestick history, we can identify potential Buy opportunities. However, to remain objective, I will present both Buy and Sell setups.

Observations from the Chart:

In the chart above, Buyer pressure (indicated by the long green candles) is gradually pushing the price higher, overpowering Seller pressure (shorter red candles) and forming Higher Lows. This suggests that Buyers are still dominating the market, setting specific price levels. However, there are still potential Sell opportunities within this GOLD commodity.

The chart highlights the following key areas:

• Resistance Area: 2623.15 – 2610.53
• Support Area: 2676.07 – 2662.45

Entry Setups:

Breakout Opportunity Setup

• If the price closes a 1-Hour candle above the Resistance Area's Upper Limit (2623.15), prepare to look for the best Buy entry positions.
• Conversely, if the price closes a 1-Hour candle below the Support Area's Lower Limit (2662.45), prepare to look for the best Sell entry positions.

Stop Loss (Cut Loss):

• For Buy entries, place a Stop Loss if the price closes below the Resistance Area's Lower Limit (<2610.53).
• For Sell entries, place a Stop Loss if the price closes above the Support Area's Upper Limit (>2676.07).
  Maintain a minimum risk-reward ratio of 1:1.

Pullback Setup for Sell Positions

• Use the Resistance Area as the pullback zone. If the price closes a 1-Hour candle within this area, consider taking a Sell position.
• Place a Stop Loss if the price closes above the Upper Limit of the Pullback Area (>2623.15).
• Ensure your risk-reward ratio is at least 1:1, aligning with your trading style.

Pullback Setup for Buy Positions

• Use the Support Area as the pullback zone. If the price closes a 1-Hour candle within this area, consider taking a Buy position.
• Place a Stop Loss if the price closes below the Lower Limit of the Pullback Area (<2662.45).
• Ensure your risk-reward ratio is at least 1:1, aligning with your trading style.

Always apply proper money management to ensure sustainable trading practices. Be vigilant against Fake Breakout candles, which can disrupt your setups.

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

Happy Trading, everyone!

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Technical Analysis of GOLD on December 18, 2024

From a technical standpoint, I observe that Gold has reached a price level worth considering for potential entry points. 

Let’s take a look at the 1-hour time frame Gold chart below before proceeding with the analysis:

Using Price Action analysis (Trader’s Pressure), the trend currently shows that GOLD remains in a Bullish/Uptrend condition. However, we must also anticipate potential trend reversals if the price breaks through the Support area or consolidates.

Based on the candle history, we can look for Buy opportunities, but to maintain objectivity, I will provide an analysis for both Buy and Sell entry setups.

From the chart above, we can see that Buyer pressure (indicated by the length of the Green candles) is gradually pushing prices higher, surpassing Seller pressure (indicated by the length of the Red candles), and forming Higher Lows. This suggests that Buyers are still dominating the formation of certain price levels. However, there are still Sell opportunities to be found in GOLD.

In the chart, I have marked the Resistance area with lines above the price (2667.44 – 2659.40). For the Support area, it is marked by two lines below the price (2636.95 – 2628.92).

Here are my suggested entry setups, which you can adjust to suit your trading style:

Breakout Opportunity Setup:

• If the price closes a 1-hour candle above the Resistance area’s upper limit (2667.44), look for the best Buy entry position.
• If the price closes a 1-hour candle below the Support area’s lower limit (2628.92), look for the best Sell entry position.
• Set a Cut Loss if the 1-hour candle closes below the lower boundary of the resistance area (<2659.40) for Buy entries or above the upper boundary of the support area (>2636.95) for Stop Loss on Sell entries. Aim for a minimum risk-reward ratio of 1:1.

Pullback Setup for Sell Positions:

• Use the Resistance area as the pullback zone. If the price closes a 1-hour candle within the pullback area, consider taking a Sell position.
• Set a Cut Loss if the 1-hour candle closes above the upper boundary of the pullback area (>2667.44). Maintain a minimum risk-reward ratio of 1:1 in line with your trading strategy.

Pullback Setup for Buy Positions:

• Use the Support area as the pullback zone. If the price closes a 1-hour candle within the pullback area, consider taking a Buy position.
• Set a Cut Loss if the 1-hour candle closes below the lower boundary of the pullback area (<2628.92). Maintain a minimum risk-reward ratio of 1:1 in line with your trading strategy.

Always implement proper money management to ensure healthy trading practices, and remain cautious of Fake Breakout Candles.

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

Happy Trading, everyone!

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