Get started

Goldtrading

GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK Hey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between two weighted levels 2309 resistance with a open gap before that at 2296 and 2286 Goldturn support. We will need to see a test and lock on either levels to open the next range. We will need to see ema5 lock above 2309 to open the range above or a rejection before this will follow to find support at the retracement range. A cross and lock below 2286 will open the confirm the retracement range and a further cross and lock below the retracement range will open the swing range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2296 2309 EMA5 CROSS AND LOCK ABOVE 2309 WILL OPEN THE FOLLOWING BULLISH TARGET 2326 BEARISH TARGETS 2286 EMA5 CROSS AND LOCK BELOW 2286 WILL OPEN THE RETRACEMENT RANGE 2274 - 2259 EMA5 CROSS AND LOCK BELOW 2259 WILL OPEN THE SWING RANGE 2274 - 2259 SWING RANGE 2240 - 2219 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
21
GOLD WEEKLY CHART MID/LONG RANGE ROUTE MAPHey Everyone, This is an update on our weekly chart idea that we have been tracking and trading successfully over the last few months and currently still being respected. So far we were able to track the entre move up and down twice with level to level tracking and our long term swing range zones have also provided the bounces each time. CURRENT UPDATE We are now seeing price break back in the channel with ema5 opening the 2265, as a potential correctional area also inline with the channel half line. We need to keep this in mind when buying dips and managing risk and range to handle swings. The levels within the channel will provide the bounces inline with our plans to buy dips, level to level using our smaller time-frames. Buying dips allows us to safely manage any swings rather then chasing the bull from the top Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
2
GOLD: Bullish Setup Anticipated Amid USD Weak and Low Treasury YGOLD: Bullish Setup Anticipated Amid USD Weak and Low Treasury Yields On Tuesday, gold dropped to the $2,315 area, nearing the multi-week low touched the previous day, influenced by a modest strengthening of the US Dollar (USD). Despite the USD's attempted recovery from its over two-month low, there was no significant follow-through, due to increasing expectations that the Federal Reserve (Fed) will cut interest rates later this year, bolstered by softer US macroeconomic data. These expectations have kept US Treasury bond yields depressed, which in turn has benefited the non-yielding yellow metal during the European session on Wednesday. Technical Analysis Overview For today's session, we are looking for a long setup for gold, particularly in light of the upcoming ISM Services PMI release in the US. From a technical perspective, several confluence factors support a bullish outlook: 1. Rebound from the 50% Fibonacci Level: The price has rebounded from the 50% Fibonacci retracement level, a significant support area indicating potential for upward movement. 2. Divergence on the H4 Chart: A divergence on the H4 chart suggests that selling pressure is weakening, further supporting the case for a bullish setup. These technical indicators align to suggest that gold is positioned for a potential upward move. Key Factors Influencing Gold 1. USD Strength and Fed Rate Cut Expectations: While the USD showed modest strength, it lacked sustained momentum due to growing expectations that the Fed will start cutting interest rates later this year. Softer US macro data has reinforced this outlook. 2. US Treasury Yields: Depressed US Treasury yields, influenced by expectations of Fed rate cuts, are benefiting gold. Lower yields decrease the opportunity cost of holding non-yielding assets like gold, making it more attractive. Market Strategy Given the current technical setup and fundamental backdrop, our strategy involves looking for a long position in gold. The rebound from the 50% Fibonacci level and the observed divergence on the H4 chart support this approach. Additionally, the anticipation of the ISM Services PMI release adds a potential catalyst for movement. Conclusion Gold has experienced some downward pressure but remains supported by underlying factors such as low US Treasury yields and expectations of future Fed rate cuts. The technical indicators, including the rebound from the 50% Fibonacci level and the divergence on the H4 chart, suggest a bullish setup is likely. As a result, the current market environment presents an opportunity to look for long positions in gold, particularly in anticipation of supportive economic data releases.
OANDA:XAUUSDLong
by FOREXN1
1
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone, A great day on the chart today, riding the entire move up after having the gap left open from yesterdays update. Yesterday we updated that our cross and lock confirmation opened 2345 and 2359. 2345 was hit and only 2359 was left. 2331 provided the support with no lock below confirming the rejection followed with the push up, riding the move all the way up, just a few pips short of 2359. This final target will #complete this range. We will then need a cross and lock above 2359 to open the range above or a rejection here will see a drop down to look for support at 2345 and 2331 Goldturns. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2331 - DONE EMA5 CROSS AND LOCK ABOVE 2331 WILL OPEN THE FOLLOWING BULLISH TARGETS 2345 - DONE 2359 - BEARISH TARGETS 2310 EMA5 CROSS AND LOCK BELOW 2310 WILL OPEN THE SWING RANGE SWING RANGE 2285 - 2274 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
14
GOLD Trading: 8 Mistakes Traders MUST Avoid in a Bull Market The unstoppable uptrend on Gold may cause irrational and very costly decisions . For the past 6 months, we've seen an unprecedented surge, with new highs being set almost daily. In this article, we will discuss critical mistakes that traders often make in the midst of such a bullish run and explore the strategies to maximize your gains. 1. Technical Indicators Lie Always remember that technical indicators that measure the momentum or strength of a market trend, that show the overbought and oversold conditions, fail miserably in strong bullish or bearish rallies. I am talking about such indicators as Relative Strength Index (RSI), Moving average convergence/divergence, Stochastic, etc. The fact that one of these indicators show overbought condition or even a bullish divergence most of the time will be a false signal. Above is the example of an overbought RSI on Gold chart on a daily. After the market became overbought, it went 1000 pips higher before the first pullback. 2. It is Never too High When the market starts setting new all-time highs, people typically start saying that the price is already "too high" and start closing their long positions or even open short positions. Remember, that the notion of too high is very subjective. Look at a bullish rally on Gold in 2020. I well remember that when the market updated a yearly high in April, People start staying that it is already "too high". However, the market kept rallying for 4 consequent months, constantly updating the highs. Such a market behavior may persist for a significant period of time, be prepared for that. 3. Beware of Overconfidence Even though bullish rallies may be long, always remember that they can not last forever. At some moment, correction or even bearish reversal will occur. For that reason, open long positions carefully, setting realistic targets. 4. Protect Your Gains and Maximize Your Profits When the market is trading in the uncharted territory, it is almost impossible to predict where it will find the resistance. With a take profit level, you may close the trade too soon. If you see that the market is driven by euphoria and keeps setting new all-time highs, remove take profit and apply a trailing stop instead. Keep that below the recent supports, use ATR or some other classic technical tool. That will help you to benefit from the entire rally. 5. DON'T SELL BULLISH RALLY When the market is driven by greed, euphoria or fear, never go against the market. The chance that you will accurately predict the turning point is close to 0. 6. Beware of Lower Time Frame Bearish Patterns In a strong bullish trend, classic bearish reversal pattern have low accuracy, especially on minutes time frames. Look at a sequence of double tops on 15 minutes time frame. These patterns are a great example of manipulations and how smart money induce retail traders to start shorting. In a such a strong bullish trend, the only strategy to rely on is trend-following trading. 7. Do Not Rely On News In times of strong bullish/bearish rallies, the data in economic calendar and important news releases stop giving the reliable signals. In times of bulls/bearish runs, emotions become the main driver of the markets, not the fundamental data. 8. If You Missed It, Let It Go I can imagine, how terrible you may feel yourself if you did not manage to buy Gold on a good price. It's sad, and it is painful to watch how the market goes higher and higher without you. But always remember a simple rule: if you missed the rally, let it go. With each new high that the market sets, your potential gains drop dramatically. I hope that these tips will help you not get burned while Gold is on fire. Stay calm and patient, and do not let your emotions intervene. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
1
Gold is in a downtrend and will fall sharplyGold prices (XAU/USD) may find support at the 50 EMA in case the price breaks out of a sideways range after initially trading off the May highs. XAU/USD has broken the main uptrend line and may be in a short-term downtrend. According to the mantra "the trend is the trend", the probability of price increase will continue to decrease. The 50 EMA at 2,310 USD and the May 3 low at 2,277 USD will be the final supports before gold prices fall further. The RSI indicator also dropped, surpassing level 50, further reinforcing this scenario. On the contrary, the resistance levels to pay attention to are the EMA 20 at 2,350 USD and the main resistance is the 2,400 USD area, corresponding to the main trendline of the rising wave from the beginning of the year. To overcome these levels will require a lot of effort from buyers and enough momentum and is unlikely to happen in the short term.
TVC:GOLD
by SantaTradeGold
XAUUSD: First 4H Death Cross in almost 5 months! Is it bearish?Gold is neutral on the 1D timeframe (RSI = 47.738) but turned bearish on its 4H technical outlook (RSI = 42.512, MACD = -2.860, ADX = 30.716) as it formed the first 4H Death Cross since January 15th. If Gold fails to reclaim the 1D MA50 and establish a week of trading over it, we project a slow decline same as January-February aiming at the S1 level (TP = 2,300). The long term trend will remain bullish though as long as the 1D MA100 supports. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDShort
by InvestingScope
1
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone, Please see update on our 1h chart shared on Sunday. We got our 2331 hit followed with a cross and lock opening 2345 and 2359. 2345 was hit and now only 2359 left. The rejection before this gap followed with a repeat of yesterdays action to find support just above the retracement range again. We were able to buy dips inline with our plans to manage the range. As long as we have ema5 above 2310, we should another attempt on the range above level to level or a cross and lock below 2310 will confirm the swing range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2331 - DONE EMA5 CROSS AND LOCK ABOVE 2331 WILL OPEN THE FOLLOWING BULLISH TARGETS 2345 - DONE 2359 BEARISH TARGETS 2310 EMA5 CROSS AND LOCK BELOW 2310 WILL OPEN THE SWING RANGE SWING RANGE 2285 - 2274 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
14
GOLD MARKET UPDATEHey Everyone, Great start to the week with our chart idea playing out perfectly. As stated we are we got a drop into the retracement range no ema5 cross and therefore nice bounce all the way into hitting our Bullish target 2339 and now heading towards 2360 target. We are looking for the ema5 lock to further confirm 2360 Goldturn to complete this range targets. We will continue to see play between the weighted levels and until one breaks to open the next one. True level to level tracking and trading. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2339 - DONE EMA5 CROSS AND LOCK ABOVE 2339 WILL OPEN THE FOLLOWING BULLISH TARGET 2360 EMA5 CROSS AND LOCK ABOVE 2360 WILL OPEN THE FOLLOWING BULLISH TARGET 2389 BEARISH TARGETS 2313 EMA5 CROSS AND LOCK BELOW 2313 WILL OPEN THE FOLLOWING SWING RANGE SWING RANGE 2290 - 2275 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
17
⭐️ XAU/USD : More Fall Ahead ? (First Long, then SHORT)Upon analyzing the XAU/USD chart in the 2-hour timeframe, we observe that the price declined from $2370 to $2325! Subsequently, gold rebounded with demand and is currently trading in the range of $2340. It’s possible that after an upward movement, we might witness further decline in gold prices. Keep an eye on the price reaction in the range of $2350 to $2360! Additionally, all the levels mentioned in the previous analysis remain valid. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
OANDA:XAUUSDShort
by ArmanShabanTrading
82
GOLD 1H CHART ROUTE MAP & TRADING PLANS FOR THE WEEK AHEADHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between two weighted levels 2331 Goldturn resistance and 2310 Goldturn support. We will need to see a test and lock on either levels to open the next range. We now have gaps between both support and resistance weighted levels. Gap above at 2331 weighted level and gap below at 2310 Goldturn. We will need to see ema5 lock above 2331 to open the range above or a rejection will follow to find support at the retracement range. A cross and lock below 2310 will open the swing range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2331 EMA5 CROSS AND LOCK ABOVE 2331 WILL OPEN THE FOLLOWING BULLISH TARGETS 2345 2359 BEARISH TARGETS 2310 EMA5 CROSS AND LOCK BELOW 2310 WILL OPEN THE SWING RANGE SWING RANGE 2285 - 2274 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
12
GOLD 4H CHART ROUTE MAP & TRADING PLANS FOR THE WEEK AHEADHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price play between two weighted levels 2339 resistance and 2313 is the weighted support for this range. We will need to see either weighted level break and lock to confirm the next range. We will need to see ema5 lock above 2339 to open the range above or a rejection will follow to find support in the retracement range. A cross and lock below 2313 will open the swing range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2339 EMA5 CROSS AND LOCK ABOVE 2339 WILL OPEN THE FOLLOWING BULLISH TARGET 2360 EMA5 CROSS AND LOCK ABOVE 2360 WILL OPEN THE FOLLOWING BULLISH TARGET 2389 BEARISH TARGETS 2313 EMA5 CROSS AND LOCK BELOW 2313 WILL OPEN THE FOLLOWING SWING RANGE SWING RANGE 2290 - 2275 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
2
GOLD WEEKLY CHART LONG TERM/RANGE ROUTE MAPHey Everyone, This is an update on our weekly chart idea that we have been tracking and trading successfully over the last few months and currently still being respected. So far we were able to track the entre move up and down twice with level to level tracking and our long term swing range zones have also provided the bounces each time. After completing our bullish target of 2438 2 weeks ago confirmed by the body close gap at 2404. No further gap was created and only a wick confirming the rejection. The rejection completed the detachment to ema5 below as highlighted land also inline with the channel top, which we were looking for a re-test to confirm support. CURRENT UPDATE We got the bounce from the channel top into 2360 for a nice catch and now we are seeing price reject at 2360 and closed below the channel top opening the gap below at 2313. We will need to see ema5 also cross into the channel to support the body close for further continuation in the channel or failure of ema5 to cross back into the channel will see another push up from the channel top. If this support breaks and the channel top does not provide the dynamic support we are looking for then we are likely to see price break back into the channel for a further correction to respect the levels in the channel once again. The levels will then provide the bounces inline with our plans to buy dips, level to level using our smaller time-frames. Buying dips allows us to safely manage any swings rather then chasing the bull from the top Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
2
GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAPHey Everyone, We have been successfully tracking this chart for a while now and after completing all our targets inline with our plans the new month candle opened in a central range with room above and below for the updated detachment to complete, highlighted with the new circle and also room above to re-test the new open range LAST WEEKS UPDATE We saw price take a drop last week inline with the longer term correction we were looking for on this monthly chart. While chasing the bull on our smaller timeframe over the last few months we kept in mind the detachment every week on this chart reminding our followers, with the highlighted circle keeping in mind the market can throw this curve ball at anytime due to the detachment below and to manage risk according in the range due to the wider available range. CURRENT UPDATE We saw a continuation of the drop further closing the gap of the detachment with a gap now left open at 2235. Long term we will like to see and look for price to support above the channel top for a continuation to re-test the range above. We still remain Bullish and will only safely take buys from support levels. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
FOREXCOM:XAUUSD
by Goldviewfx
3
GOLD (XAU/USD): what does the MTF view orchestrate?Initially, taking a look at the Monthly-timeframe development, it could be noted that the price is printing huge wick candles, which emphasises the inability to continue pushing in the upside destination. Identifying all crucial key zones and levels of decision, we may point out the importance of the 2.07 key region, the borders of which could be visited in the upcoming middle to long run if our game-plan plays out as desired. Zooming into the Weekly-timeframe chart to locate probable entry areas, the right shoulder zone of the currently forming Head&Shoulders pattern could be held under the radar. If the price manages to bounce off the neckline highlighted on the graph and reach the right shoulder zone as orchestrated, we might look into taking short positions and aim for the 2.07 destination in the upcoming long run.
OANDA:XAUUSDShort
by Investroy
GOLD CHART UPDATEHey Everyone, Great finish to the week with another nice catch from the dip. Not much to update today, as we saw price play between both weighted levels like we suggested yesterday. Currently back to testing the 2322 level again. We will need to see ema5 lock above or below either level to open the next range. We will now come back Sunday with our multi time-frame analysis, Gold route map and trading plans for the week ahead. Please don't forget to like, comment and follow to support us, we really appreciate it! As always, have a great weekend with family and loved ones. Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
12