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GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone, Another solid finish to the week tracking and trading the movement up and down Goldturn to Goldlturn. This week we started with the first Bullish target at 2040, which was hit and then no cross and lock confirmed the rejection. We then saw price play into the retracement range for the cross and lock confirmation for the swing range, which also played out perfectly providing the swing into 2030, as highlighted on the chart and all the way into 2040. The last two days we saw price play back into the retracement range giving the bounces inline with our plans to buy dips and then yesterday we had the 2022 test and bounce and we advised that we were waiting for the 2036 gap to be filled again as it was open- This weas completed today!!! It was a week full of swings and ranging action, which we were able to track and trade safely, as our Goldturn levels were respected in true GoldViewFX style!! We will now come back Sunday with our multi time frame analysis, trading plan and Gold route map for the coming week. As always have a great weekend with families and loved ones and we will see you all on market open!!! Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX
OANDA:XAUUSD
by Goldviewfx
12
GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone, As you can see our levels on this chart are being respected perfectly with each of our weighted levels giving us the bounces and rejection to be able to track and trade the movement level to level. After completing 2040 we got another retest on the retracement range, which gave the bounce into 2036. We then had another re-test at the retracement level 2030, as no break above 2036. EMA5 crossed and locked below 2030 opening 2022 Goldturn, which was hit and gave a nice bounce now heading into 2036, which is now re-open. We have 2040 at the range top that will need to break and lock to see the range above and 2015 at range bottom holding the structure. Price is likely to bounce and play in this range with our Goldlturns providing the bounces and rejections. 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 2030 - DONE 2040 - DONE EMA5 CROSS AND LOCK ABOVE 2040 WILL OPEN THE FOLLOWING BULLISH TARGET (NO CROSS AND LOCK) 2048 2055 BEARISH TARGETS 2030 - DONE EMA5 CROSS AND LOCK BELOW 2030 WILL OPEN THE SWING RANGE SWING RANGE 2015 -DONE 2007 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 Mr Gold
OANDA:XAUUSD
by Goldviewfx
GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone, And we did it again!!!!! After trading and tracking the movement down into the swing range and then riding it all the way back up yesterday we highlighted that we have a few candle body close above 2036 leaving 2040 gap open - This was HIT perfectly today!!! We will now see price bounce between 2040 and 2036 and look for ema5 to cross and lock above or below the weighted levels to track the next range. We would like to see 2036 support for another re-test at 2040. 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 2030 - DONE 2040 - DONE EMA5 CROSS AND LOCK ABOVE 2040 WILL OPEN THE FOLLOWING BULLISH TARGET (NO CROSS AND LOCK) 2048 2055 BEARISH TARGETS 2030 - DONE EMA5 CROSS AND LOCK BELOW 2030 WILL OPEN THE SWING RANGE SWING RANGE 2015 -DONE 2007 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 Mr Gold
OANDA:XAUUSD
by Goldviewfx
18
GOLD (XAUUSD): Important Key Levels & Structure Analysis 🥇 Here is my latest structure analysis for Gold. Vertical Structures Vertical Support 1: Rising trend line Horizontal Structures Horizontal Support 1: 2009 - 2014 area Horizontal Support 2: 2001 - 2006 area Horizontal Support 3: 1965 - 1977 area Horizontal Resistance 1: 2055 - 2065 area Horizontal Resistance 2: 2077 - 2088 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
3
GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone, Another great day with our chart idea update from yesterday playing out perfectly with 2030 hit on market open, as suggested yesterday. Yesterday we hit our Bullish target followed with the bearish retracement target and then cross and lock confirmed the swing range for the perfect swing into 2030, as highlighted on the chart - BOOOOOOM!!!!!! We have a few candle body close above 2036 leaving 2040 gap open, which will be further solidified with a ema5 lock above 2036. We will also need to see ema5 lock above 2040 weighted Goldturn level to open the range above. Rejection at weighted levels will see movement back down to re-test the swing range and second re-tests usually completes the full lower swing range level. 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 2030 - DONE 2040 - DONE EMA5 CROSS AND LOCK ABOVE 2040 WILL OPEN THE FOLLOWING BULLISH TARGET (NO CROSS AND LOCK) 2048 2055 BEARISH TARGETS 2030 - DONE EMA5 CROSS AND LOCK BELOW 2030 WILL OPEN THE SWING RANGE SWING RANGE 2015 -DONE 2007 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 Mr Gold
OANDA:XAUUSD
by Goldviewfx
13
GOLD 1H ROUTE MAP & TRADING PLAN UPDATEHey Everyone, Fantastic start to the week!! We got the Bullish target at 2040 weighted level on market open. Ema5 failed to cross above 2040 confirming the rejection into the retracement range. Ema5 crossed and locked below the retracement range opening the swing range, which was also hit perfectly followed with the perfect swing, as highlighted on the chart with the identified swing range doing exactly what it says on the tin. Our calculated algo generated weighted levels and swing range have always proven effective and always giving us the bounce and the swing with perfection. Just look at the perfect swing from 2015!!! This is the true level to level tracking and trading, as our setups give plenty of time to identify the opening of gaps to take action. We are now heading towards 2030 for the full swing to complete although we have achieved more than the 40 pip bounce always suggested form weighted levels. We will need to see a 2030 Goldturn test and a cross and lock to open the range above or rejection here will see movement back down to re-test the swing range and second retests usually completes the full lower swing range level. 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 2040 - DONE EMA5 CROSS AND LOCK ABOVE 2040 WILL OPEN THE FOLLOWING BULLISH TARGET (NO CROSS AND LOCK) 2048 2055 BEARISH TARGETS 2030 - DONE EMA5 CROSS AND LOCK BELOW 2030 WILL OPEN THE SWING RANGE SWING RANGE 2015 -DONE 2007 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 Mr Gold
OANDA:XAUUSD
by Goldviewfx
10
Decoding Market Mood: The Sentimental Drivers of Gold FuturesIntroduction In an era where information is as precious as gold itself, understanding the underlying currents that drive market sentiment has become crucial for traders and investors alike. Gold Futures, a standard in hedging against economic uncertainty and inflation, serve as a beacon for those navigating the volatile seas of the financial markets. This article embarks on an explorative journey into the realm of sentiment analysis, uncovering how shifts in global mood translate into movements in Gold Futures prices. Through a blend of case studies and theoretical insights, we will decode the signals broadcasted by market participants, hopefully offering a compass for those seeking to align their strategies with the underlying emotional and psychological state of the market. Understanding Sentiment Analysis The Essence of Sentiment Analysis: At its core, sentiment analysis in the financial markets involves the qualitative assessment of the collective mood or opinion of investors towards a specific asset or the market as a whole. It transcends traditional analysis by incorporating psychological and emotional factors, aiming to assess market movements based on the prevailing sentiment. This approach acknowledges that market prices are not solely driven by fundamental indicators but are also heavily influenced by human emotions and perceptions. Application in Financial Markets: In the realm of Gold Futures, sentiment analysis serves as a powerful tool to gauge investor confidence, fear, and overall market outlook. It encompasses the examination of various sources, including news articles, social media chatter, economic reports, and geopolitical events, to construct a sentiment score or index. This score reflects the general optimism or pessimism surrounding gold as an investment, influencing traders' decisions to buy or sell Gold Futures contracts. The Impact of Sentiment on Gold Prices: Gold's allure as a safe-haven asset makes it particularly sensitive to changes in market sentiment. During times of economic uncertainty or geopolitical tensions, a surge in pessimism can lead to increased demand for gold, pushing prices upward. Conversely, in periods of market optimism, where riskier assets become more appealing, gold may see reduced demand, leading to a decline in prices. Understanding these sentiment-driven dynamics is essential for anyone trading Gold Futures, as it allows for more informed decision-making, aligning trades with the broader market mood. Factors Influencing Gold Market Sentiment The sentiment toward gold is shaped by a myriad of factors, ranging from macroeconomic indicators to geopolitical events. Understanding these influences is paramount for traders aiming to navigate the Gold Futures market effectively. This section delves into these factors, reinforced by case studies that highlight their impact on gold prices. Economic Indicators and Central Bank Policies: Gold is often viewed as a hedge against inflation and currency devaluation. Economic indicators such as inflation rates, GDP growth, and unemployment figures significantly influence investor sentiment toward gold. Central bank policies, including interest rate decisions and quantitative easing measures, also play a crucial role. For instance, a decision by a major central bank to lower interest rates can lead to a weaker currency, prompting investors to turn to gold as a store of value. Case Study 1: Gold finishes October on a high In October 2023, amidst heightened geopolitical tensions and central bank activities, gold rallied, marking its highest monthly close by the LBMA PM price. This movement was influenced by a combination of factors, including COMEX futures' net short positions and substantial ETF inflows. The case underscores how geopolitical uncertainties and central bank maneuvers can drive investor sentiment, steering the direction of Gold Futures prices. Geopolitical Tensions Geopolitical events and uncertainties can lead to increased volatility in the financial markets, with gold often benefiting as a perceived safe haven. Conflicts, elections, and trade negotiations can sway investor sentiment, leading to spikes in gold demand. Case Study 2: Geopolitical and economic uncertainty boost gold demand and prices The World Gold Council's report indicated a slight dip in annual gold demand for 2023 but highlighted that demand from OTC markets and central banks kept the average annual gold price at historic highs. Despite ETF outflows, sectors like bar and coin investment and the global jewelry market showcased resilience, illustrating how geopolitical and economic uncertainties can bolster gold's appeal. Social and Environmental Considerations The growing emphasis on responsible sourcing and environmental sustainability is influencing investor sentiment toward gold. Initiatives aimed at ethical mining practices and combating illicit gold trade affect the market's perception and, subsequently, gold prices. Case Study 3: Collaboration underway to develop consolidated standard for responsible mining Efforts to establish a global standard for responsible mining, involving major industry players, highlight the market's shift toward sustainability. This collaboration aims to create a unified framework that reassures investors about the ethical provenance of their gold investments, potentially impacting demand. Case Study 4: World Gold Council and DMCC Collaborate to Combat Illicit Hand-Carried Gold Trade This strategic initiative to strengthen international regulations around gold sourcing and trade showcases the industry's commitment to ethical practices. Such measures not only enhance gold's reputation as a responsible investment but also influence market sentiment by ensuring a more transparent and reliable supply chain. Central Bank Activities Central banks are significant players in the gold market, with their buying and selling activities offering insights into their confidence in the global economy. Their actions can serve as a barometer for gold's future trajectory. Case Study 5: Central banks maintain historic buying pace in Q3 The Q3 2023 Gold Demand Trends report highlighted continued robust demand for gold, with central bank purchases significantly contributing to quarterly demand. This activity underscores central banks' role in bolstering gold market sentiment and illustrates their confidence (or lack thereof) in the current economic landscape. Applying Sentiment Analysis to Gold Futures Trading Incorporating sentiment analysis into trading strategies for Gold Futures involves a nuanced understanding of market mood and its implications for future price movements. This section discusses the current sentiment influenced by geopolitical and economic uncertainty and how it sets the stage for trading decisions in 2024. Current Market Sentiment and Gold Futures As we edge into 2024, the geopolitical and economic landscape continues to shape investor sentiment toward gold. The World Gold Council's Gold Demand Trends report for 2023 highlighted a nuanced market. Despite a slight decline in annual demand, the total demand reached a new record, propelled by central bank buying and OTC investments. This paradoxical situation—where demand dips but overall interest remains high—underscores the complex interplay of factors influencing gold prices. The Future of Gold Futures and Sentiment Analysis As sentiment analysis becomes increasingly sophisticated, its application in trading Gold Futures is expected to evolve. The development of AI and machine learning tools will enhance our ability to gauge market mood, providing traders with deeper insights and more accurate predictions. The integration of sentiment analysis into trading strategies will likely become more mainstream, offering a competitive edge to those who can interpret and act on market sentiment effectively. Trade Plan for Gold Futures Given the current sentiment and market conditions, there's a compelling case for a bullish outlook on gold. As such, we present a trade plan to go long on Gold Futures, with specific attention to risk management and catering to traders with varying risk appetites. Point Values and Contract Options Standard Gold Futures (GC): Each contract represents 100 troy ounces of gold, and the point value is $100 per troy ounce. This means a $1 move in the gold price equates to a $100 change per contract. Micro Gold Futures (MGC): For traders with a lower risk tolerance, Micro Gold Futures offer a smaller-scale opportunity. Each MGC contract represents 10 troy ounces of gold, with a point value of $10 per troy ounce, providing a more accessible entry point into gold trading. Trade Plan Details Entry Price: 2045.2 Stop Loss Price: 2001.7 Target Price: 2156 Rationale: The entry is predicated on current sentiment indicators and technical analysis, suggesting an upward momentum. The stop loss is strategically placed below key support levels to mitigate risk, while the target price is set at a level that previous sentiment-driven rallies have reached. Micro Gold Futures for Lower Risk Appetite For traders looking to engage with the gold market at a reduced risk level, Micro Gold Futures (MGC) provide an excellent alternative. Utilizing the same trade plan but with MGC contracts allows traders to manage their exposure more precisely, tailoring their investment to their comfort with risk while still capitalizing on gold's potential upside. Risk Management and Consideration Effective risk management is the cornerstone of successful trading, especially in the volatile realm of Gold Futures. Trading based on sentiment analysis introduces unique challenges and opportunities, making it imperative for traders to employ robust risk management strategies. This section emphasizes the significance of managing risk to preserve capital and sustain profitability over the long term. Understanding Risk in Sentiment-Based Trading Trading on sentiment involves interpreting market moods that can swiftly change due to unforeseen events or shifts in investor perception. Such volatility requires traders to be vigilant and adaptive, employing strategies that protect against sudden market movements. Key Risk Management Strategies Setting Stop Loss Orders: A well-placed stop loss can prevent significant losses by automatically closing a position if the market moves against your prediction. For the trade plan outlined (going long on Gold Futures), the stop loss at 2001.7 is critical for limiting potential downside. Position Sizing: Adjusting the size of your trade according to your risk tolerance and account size can mitigate risk. For traders utilizing Micro Gold Futures (MGC), this means leveraging the smaller contract size to maintain control over exposure. Diversification: While our focus is on Gold Futures, diversifying your portfolio across different assets can reduce risk. This strategy ensures that adverse movements in gold prices do not disproportionately impact your overall trading performance. Regular Monitoring and Adjustment: Sentiment can shift rapidly; regular monitoring of sentiment indicators and readiness to adjust your positions accordingly is essential. This includes potentially moving stop loss levels or taking profits early if the sentiment begins to change. Utilizing Hedging Techniques: Options and other derivative products can be used to hedge against your Gold Futures positions, offering protection against adverse price movements. Incorporating Micro Gold Futures for Risk-Averse Traders Micro Gold Futures contracts provide a nuanced way to engage with the gold market while managing risk exposure. For those cautious about sentiment-driven volatility, trading MGC allows for participation in potential upside movements without the larger capital exposure associated with standard Gold Futures contracts. Conclusion: The Sentimental Journey of Gold Futures The intricate dance between market sentiment and Gold Futures prices underscores the dynamic nature of financial markets. By decoding the mood of the market, traders can align their strategies with the prevailing winds, navigating through periods of uncertainty with informed confidence. This article has journeyed through the application of sentiment analysis, from understanding its foundations to applying it in trading strategies, and underscored the paramount importance of risk management. As we look ahead, the role of sentiment analysis in trading Gold Futures is poised to grow, propelled by advancements in technology and a deeper understanding of market psychology. The traders who succeed will be those who not only master the art of sentiment analysis but also adhere to disciplined risk management practices, ensuring their trading journey is both profitable and sustainable. In the ever-changing landscape of the gold market, the wisdom lies not just in predicting the future but in preparing for it with a well-rounded strategy that embraces sentiment analysis as a powerful tool in the trader's toolkit. When charting futures, the data provided could be delayed. Traders working with the ticker symbols discussed in this idea may prefer to use CME Group real-time data plan on TradingView: www.tradingview.com This consideration is particularly important for shorter-term traders, whereas it may be less critical for those focused on longer-term trading strategies. General Disclaimer: The trade ideas presented herein are solely for illustrative purposes forming a part of a case study intended to demonstrate key principles in risk management within the context of the specific market scenarios discussed. These ideas are not to be interpreted as investment recommendations or financial advice. They do not endorse or promote any specific trading strategies, financial products, or services. The information provided is based on data believed to be reliable; however, its accuracy or completeness cannot be guaranteed. Trading in financial markets involves risks, including the potential loss of principal. Each individual should conduct their own research and consult with professional financial advisors before making any investment decisions. The author or publisher of this content bears no responsibility for any actions taken based on the information provided or for any resultant financial or other losses.
COMEX:GC1!Education
by traddictiv
2
GOLD 4H ROUTE MAP & TRADING PLAN FOR THE WEEK AHEADHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price play between a central zone of two structures with 2042 and 2053 as the resistance levels open for a test and 2028, as the retracement test level. We have resistance at 2042 and 2053 for Bullish targets and 2028, as our bearish retracement target. We will see price range between these levels until one breaks and locks to confirm the next range. A bearish test to support at 2028 and a break and lock below this level will open the swing range. However, support above this level will likely provide the bounce to retest 2042 Goldturn and 2053. A cross and lock above 2053 will open the range above. 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 2042 2053 EMA5 CROSS AND LOCK ABOVE 2053 WILL OPEN THE FOLLOWING BULLISH TARGET 2065 2080 BEARISH TARGETS 2028 EMA5 CROSS AND LOCK BELOW 2028 WILL OPEN THE SWING RANGE SWING RANGE 2010 - 1999 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 Mr Gold
FXOPEN:XAUUSD
by Goldviewfx
GOLD WEEKLY CHART MID/LONG TERM PROJECTION UPDATEHey 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 range swing range zones also providing the bounces each time LAST WEEKS UPDATE Price is still ranging between the axis level and the weekly swing range. We will need to see a test and break on either level to confirm the next challenge either for the channel half line above or a breakout below the channel. CURRENT UPDATE We got the 2048 axis hit last week, as analysed but price failed to close above the axis level and also ema5 is still sitting between the range. We will need to at least see a weekly candle body close above the axis level and ema5 for a stronger confirmation for the range above to re-open. We need to keep the above in mind and continue with our plans to buy dips using our smaller timeframes, which will allow us to safely take the bounces from support. 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
GOLD DAILY CHART MID TERM PROJECTIONHey Everyone, Please see our daily chart idea that we have been tracking for a while now, which is playing out and respecting the channel dynamics perfectly. Last week we stated we were seeing price head towards 2043 and will need to see a break above this level with ema5 to open test for the range above or a failure to close above this level will see price retrace back down to complete the channel bottom test. - We got the 2043 hit last week, as analysed and now we are seeing ema5 challenge the level. This week will be crucial to see either ema5 cross and lock above 2043 to open the range above or a new Goldturn formation below 2043 to confirm rejection into the channel bottom. We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion. Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our algo generated levels and setups. 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
Bears Seize Control of the Gold MarketSince the onset of January 2nd, 2024, a discernible downtrend channel has shaped the intricate interplay between gold and the US dollar. Delving into the meticulous examination of gold's financial intricacies, my attention is laser-focused on identifying opportune moments for selling as the precious metal nears the trend line this week. In the event that price encounters resistance within the critical thresholds of 2050 to 2070, a calculated strategy emerges – a potential short position with a downside target of approximately 55 pips, bringing us to an anticipated 2003 level. The overarching strategy hinges on a discernible transformation in the higher time frames, acting as a precursor for potential long positions. In the strategic forecast, my outlook tends towards a bearish trajectory, unfolding gradually with each nuanced market development. Your active engagement in this financial analysis is pivotal. Appreciate your likes, comments, and shares as we navigate these nuanced market waters. Until the next data point emerges, see you on the analytical flip side! 🔄💹
OANDA:XAUUSDShort
by Districtfx
GoldViewFX - END OF WEEK UPDATEHey Everyone, All targets HIT completing the chart idea for the week. 2061 was the last target of the range, which was hit yesterday. No candle body close above 2061 or ema5 lock confirming the rejection inline with the NFP release data. Price is now testing support and likely to find support in this zone. BULLISH TARGETS 2022 - DONE EMA5 CROSS AND LOCK ABOVE 2022 WILL OPEN THE FOLLOWING BULLISH TARGET 2038 - DONE EMA5 CROSS AND LOCK ABOVE 2038 WILL OPEN THE FOLLOWING BULLISH TARGET 2051 - DONE 2061 - DONE We will now come back Sunday with our multi timeframe analysis, Gold route map and trading plans for the coming week. Please don't forget to like, comment and follow to support us, we really appreciate it! Have a great weekend all!!! GoldViewFX Mr Gold
FXOPEN:XAUUSD
by Goldviewfx
4
GOLD Prices Retrace Amidst Shifting Rate Cut ExpectationsGold Prices Retrace Amidst Shifting Rate Cut Expectations: A Technical and Fundamental Analysis The precious metal experiences a decline as investors reassess the timeline for potential interest rate reductions by the Federal Reserve (Fed). This shift in sentiment follows the release of a resilient Consumer Price Index (CPI) report for December and hawkish comments from European Central Bank (ECB) officials, contributing to a recalibration of broader market expectations. Market Dynamics and Fed's Stance: Despite market inclinations towards a rate cut in March, policymakers are adopting a measured approach to endorsing a dovish stance on interest rates. The US economy exhibits consumer price inflation nearly double the required 2%, sustained labor demand, and a low probability of recession, allowing the Fed to maintain a somewhat restrictive monetary policy stance with interest rates ranging between 5.25-5.50%. Upcoming Catalysts: Looking ahead, monthly US Retail Sales, Industrial Production data, and the release of the Fed's Beige Book are anticipated to provide fresh insights into the interest rate outlook. These indicators will likely guide market participants in gauging the future trajectory of monetary policy. Technical Analysis: From a technical standpoint, the current price retracement has led to a retest of the 61.8% Fibonacci area. There are indications that the price is poised for a recovery after yesterday's reversal, aligning with the previous Point of Control (POC) Volume from the recent swing high. The technical analysis suggests a potential bullish impulse, with an anticipated target at $2068. Conclusion: The intersection of shifting market sentiments, economic indicators, and technical signals creates a dynamic landscape for gold prices. While interest rate expectations play a pivotal role, forthcoming data releases will provide crucial cues for investors navigating the precious metal market. The potential for a bullish resurgence, as indicated by technical factors, adds complexity to the ongoing narrative, prompting investors to closely monitor developments in the coming sessions.
OANDA:XAUUSDLong
by FOREXN1
5
XAUUSD: Rejection at the top of the Channel Down.Gold is neutral on the 1D technical outlook (RSI = 56.363, MACD = 190.210, ADX = 36.018) with a 4H RSI that turned overbought at 70.000 intraday. This just so happened to take place exactly at the LH trendline of the monthly Channel Down as long as daily closes under the R1 level (2,062.00), the medium term trend remains bearish. Two short entries are recommended here, one to target towards the S1 level (TP1 = 2,005) and the other the bottom of the Channel Down and near the S2 level (TP2 = 1,980). The latter will be closed earlier if the price breaks over the 4H MA50 before hitting the target. 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
GOLD ROUTE MAP & TRADING PLAN UPDATEHey Everyone, Another awesome day today completing our chart idea with the final target at 2055 HIT!!!! Our ema5 cross and lock above 2033 confirmed targets to 2047 and 2055 and gave us plenty of time to get in for the action. We are now seeing price reject at 2055 and will need to see EMA5 lock above 2055 to open the updated Goldturns above. We also have FOMC shortly so will likely see some whipsaw action to keep in mind, as we use our updated levels to track the movement down and then catch the 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 2022 - DONE EMA5 CROSS AND LOCK ABOVE 2022 WILL OPEN THE FOLLOWING BULLISH TARGET 2033 - DONE EMA5 CROSS AND LOCK ABOVE 2033 WILL OPEN THE FOLLOWING BULLISH TARGET 2047 - DONE 2055 - DONE 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 Mr Gold
OANDA:XAUUSD
by Goldviewfx
14
GOLD (XAUUSD): Fed Rate Ahead! Your Plan: Do not forget that today we are expecting FED interest rate decision and press conference. Gold will most likely react strongly to this news. Here are the potential scenarios. Bullish The market formed an ascending triangle formation on a daily, it is currently testing its neckline. If the price breaks and closes above that, it will be a strong bullish signal that will push the prices at least to 2054 level. Bearish There is a strong rising trend line that the price is currently respecting. Its bearish violation and a daily candle close below will be a strong bearish signal. The market may drop then all the way down 1978 level. Wait for the news release and then wait for a breakout, it will give you a strong confirmation. ❤️Please, support my work with like, thank you!❤️
FOREXCOM:XAUUSDLong
by VasilyTrader
4
GOLD ROUTE MAP & TRADING PLAN UPDATEHey Everyone, Piptastic day on the chart for us today with our chart idea playing out level to level with plenty of time to get in for the action by identifying gaps with ema5 lock. Yesterday we had ema5 cross and lock above 2022 opening 2033, which was hit perfectly completing 2033 target. We were then looking for the weighted level 2033 to cross and lock to open 2047. Today we had the ema5 cross and lock above 2033 confirming the open gap to 2047. This was hit perfectly once again completing our chart idea for the perfect exit before the rejection. 2055 was a potential, as stated from the outset but will need to see ema5 cross and lock above 2047 to confirm the 2055 target. We will likely see the price range between 2033 and 2047 now until one breaks and locks to confirm the next 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 2022 - DONE EMA5 CROSS AND LOCK ABOVE 2022 WILL OPEN THE FOLLOWING BULLISH TARGET 2033 - DONE EMA5 CROSS AND LOCK ABOVE 2033 WILL OPEN THE FOLLOWING BULLISH TARGET 2047 - DONE 2055 BEARISH TARGETS 2014 EMA5 CROSS AND LOCK BELOW 2014 WILL OPEN THE RETRACEMENT RANGE 2006 EMA5 CROSS AND LOCK BELOW 2006 WILL OPEN THE SWING RANGE SWING RANGE 1992 - 1979 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 Mr Gold
OANDA:XAUUSD
by Goldviewfx
16
GOLD 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 support 2014 and resistance 2022 two weighted levels for a test and break on either Goldturn to confirm the next level. We have resistance at 2022 for a immediate bullish target and 2014, as our bearish target. We will see price range between these levels until one breaks and locks to confirm the next range. A bearish test to support at 2014 and a break and lock below this level will open the retracement range. However, support here and we are likely to see a test at 2022 Goldturn. A cross and lock above 2022 will open the range above. 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 2022 EMA5 CROSS AND LOCK ABOVE 2022 WILL OPEN THE FOLLOWING BULLISH TARGET 2033 EMA5 CROSS AND LOCK ABOVE 2033 WILL OPEN THE FOLLOWING BULLISH TARGET 2047 2055 BEARISH TARGETS 2014 EMA5 CROSS AND LOCK BELOW 2014 WILL OPEN THE RETRACEMENT RANGE 2006 EMA5 CROSS AND LOCK BELOW 2006 WILL OPEN THE SWING RANGE SWING RANGE 1992 - 1979 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 Mr Gold
OANDA:XAUUSD
by Goldviewfx
8