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Xauusdsetup

XAUUSD Shorts from 2060.000 down towards 1980.000Gold bias for this idea is for a bearish move to take place around the 2060 mark where a 5hr supply zone lies. I am anticipating a bit more upward movement in the form of distribution, my plan is to execute sell positions once the price enters my Point of Interest (POI), intending to fill the significant imbalance left by the FOMC news event. Additionally, there are indications of diminishing bullish pressure on the lower time frame, signalling a potential reversal. Furthermore, considering that the price has reached all-time highs (a major liquidity point), it has accumulated sufficient liquidity to facilitate a downward shift. This is reinforced by the observed change in price character on the higher time frame, providing additional confirmation that selling positions are becoming more viable. Confluences for XAUUSD Sells are as follows: - Price has taken ATHs a major liquidity point enough for price to trigger a reversal. - There's a major POI (5hr supply zone) In which I expect a distribution to take place. - There's loads of liquidity left to the downside that needs to get taken as well as major imbalances that was left from the previous FOMC event. - Bullish pressure is now getting exhausted on lower time frames in which I can expect potential sell offs. - In order for price to keep going in a bullish trend price must retrace and make a correction. P.S. Keep in mind that despite the current bearish bias, my overall outlook on this pair remains bullish, and I perceive this downward movement as a temporary one. Following this descent, my intention is to explore buying opportunities around the 1980.000 area, where a new 6-hour demand zone has emerged. Additionally, I anticipate a subsequent price rally, surpassing the recent highs, making buying positions a favourable bias in general. I would love to hear you guys opinion and thoughts about gold, so be sure to drop a comment below!
OANDA:XAUUSDShort
by Hassan_fx
2
XAUUSD - DAILY GOLD PLAN 12/13 ⚡️ MACRO INFORMATION: 👉 Gold prices erased Tuesday's gains following November CPI news, while traders focused on the key Fed policy meeting for additional monetary policy concerns. 👉 The entire market spotlight will be on the Fed's two-day policy meeting on Wednesday when the central bank decides on interest rates and releases project summary economic reports. According to general forecasts, the Fed will hold interest rates this week, with about an 80% chance of a rate cut next May, CME's FedWatch tool has found. More refined has gold guide support. 👉 Commenting on gold in the long term, in its 2024 outlook report, Heraeus Metals emphasized the possibility of an economic recession next year. If the scenario plays out, the USD could weaken and that would help push gold prices to new highs. The company forecasts that gold will trade between $1,880 and $2,250 per ounce in 2024. ⚡️ TECHNICAL COMMENTARY: 👉 Today's gold price closed a red candle and had a long candle, this shows that sellers are overwhelming buyers, but there has been quite a quiet dispute. Today we expect the price to recover so we can continue to sell. 👉 According to the indicator set, the price in the daily frame and H4 PHP frame has reached the oversold zone, h1 has a PHP range. 👉Make a trading plan: 🔼 Buy Gold: 1968x – 1966x SL 1963 City 1975 -1987 🔽 Selling Gold: 1995x - 1997x SL 2001 City 1989 – 1982 -1970
OANDA:XAUUSDShort
by AETradingFx1
The NFP will be announced soon, are you ready? Because NFP data will be released today, the market performance in Asia and Europe has been relatively flat, maintaining a narrow range of fluctuations in the 2028-2034 range. Currently, in the 1H chart, the moving averages are highly glued, and resistance is concentrated in the 2031-2033 range. support is near 2028. There are only 3 hours left before the data is released. The market may try to choose a direction within the first 30m of the data release. I predict that the probability of rising first and then falling is high. Today's focus is on data. I plan to trade short. If the data does not match expectations, I will make adjustments at that time (you can leave me a message if you need a complete trading plan). The data market fluctuates greatly. Everyone should control risks during the transaction process. For small accounts, try to control the SL within $5. good luck!
FOREXCOM:XAUUSDShort
by Allen_Ex
XAUUSD:Return to Technical Trading Today's volatility was mainly driven by weekend emergencies. Now that the market has returned to calm, trading has returned to technical aspects again. At present, there is some support from 2023 to 2018. After all, it has experienced a sharp decline. Unless there are special events that have an impact, the repair of the technical form is inevitable. Under this premise, the remaining trading time today and the Asian market tomorrow can be carried out in the 2018-2042 range. In this process, the support is 2018-2023, the resistance is 2031-2033, followed by 2037-2042. If it falls below 2018 , it is likely to return to the range of 2013-2001. The above are my views on gold trading, I hope it can help everyone. If you need more specific information, you can contact me. good luck!
FOREXCOM:XAUUSD
by Allen_Ex
XAUUSD: Gold Analysis Today Gold can be described as two days of ice and fire, the weekend Powell speech is still lingering, gold directly hit a record on Monday, as high as 2144. Due to Powell's dovish speech in the early hours of Saturday morning, the market has become more certain about the expectation of the peak of the US Reserve rate hike, and has deepened the expectation of interest rate cuts beginning next year. So buy the expected to sell the fact, gold yesterday morning opened directly showed, but yesterday morning rose, then directly opened the negative fall situation, the lowest hit 20201 line, a one-day drop of up to 124 dollars, all the support below basically did not play a role, directly below the trend line support. This time, the multi-idling exchange is very urgent, the daily line directly large Yin close long lead, the price back to the short-term average support, meaning that the gold stage bottoming signal appeared, yesterday's surge fell first out of the market, today's volatility may not be too large, first look at the bearish adjustment. This morning took the rebound correction, above the focus on 2050 to 20531 line pressure to look bearish, look at the 2020 low point break, below the support in 2011 to 2013 line, touch can be considered more.
FOREXCOM:XAUUSDShort
by HectorBrown1