XAUUSD Quick buy opportunity but upside long-term limited.Gold (XAUUSD) may have formed a Golden Cross on the 4H time-frame but the bullish effect can only be short-term as the Falling Wedge pattern limits the upside below its Lower Highs trend-line. Regardless of that, ahead of an emerging 4H MACD Bullish Cross, we are using this opportunity for a quick buy that targets 1947.50. A closing below the 0.5 Fibonacci retracement level, invalidates that opportunity and opens the way to a deeper decline such as on August 02.
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Xauusdsignals
GOLD (XAUUSD): One More Bearish Clue 🥇
Update for Gold.
After the price reached a solid contracting supply zone on a daily,
the price formed a head and shoulders pattern on a 4h time frame
and broke its neckline and a support line of a rising parallel channel then.
It increases the probabilities that bears will keep dominating.
Goals: 1926 / 1917
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Gold (XauUsd) could rise to 1980As you may already know from my previous posts, I’m bullish Gold in the medium term. The basis for this outlook can be observed on the weekly chart. XAU/USD experienced a false downward break beneath the 1900 mark, but this, in the end, has become a bullish engulfing candle. This was followed by a breakout above the resistance of a falling wedge pattern, clearly visible on lower timeframes, followed by the break above the horizontal 1930-1935 zone (which I've previously discussed in my analyses).
Now the price is consolidating the recent gains and, considering Gold is facing the major falling trend line of the channel, a correction is not out of the question.
However, as long as the price stays above 1930- now support- bulls hold the upper hand and a sell would be pretty risky.
In conclusion, in my opinion, dips should be bought with a target at around 1980.
Negation comes with a daily close under 1930
Gold: Reaching our expected 1950 position
Gold entered the long position at 1938 in the European market, and rebounded and rose as expected. The US market strategy has also been disclosed in advance. Shorting near 1950, plan your transaction, trade your plan, and execute decisively in place. The current price of 1955 is short, and you will reap the rewards! The perfect switch between long and short, two consecutive victories in a day! Perfect!
The current rebound of gold has encountered resistance on the pressure position of the upper rail of Bollinger on the daily line, and there is a possibility of band adjustment! The high probability is the beginning of another short fall! The rebound in the US market continues to be empty! Relying on the pressure of the day's high of 1955, shorting is bearish!
Gold: 1955 empty, 1938 advanced
The support below gold is the 1935 position, the first target area for this decline!
XAUUSD | Price Action | New Week perspective | follow-up detailsGold prices experienced a minor retreat on Friday, with traders displaying a preference for the dollar, anticipating insights on U.S. monetary policy from the ongoing Jackson Hole Symposium. Despite signs of economic softness, gold managed to hold above the pivotal $1,900 per ounce level. However, the path ahead for the precious metal remains uncertain due to the looming possibility of higher U.S. interest rates.
During Friday's session, gold price exhibited sideways movement as market participants digested remarks from Fed Chair Powell, who emphasized that the potential for interest rate hikes is still under consideration. The yellow metal encountered selling pressure as Powell's stance at the Jackson Hole Symposium remained hawkish. Powell underscored that despite recent more favorable inflation readings, inflation has been persistently high, necessitating a continued effort to bring it down.
From a technical perspective, it's important to recognize the potential of buyers, particularly given the support zone that aligns around the $1,900 level. While the broader market sentiment adjusts to these developments, let's delve into the detailed analysis to navigate the XAUUSD landscape effectively.
XAUUSD Technical Analysis:
In this video, we delve into XAUUSD's price action, decoding accumulation, and distribution patterns. By analyzing historical price moves, market behaviors, and buyer-seller dynamics, we extract insightful cues. The strategic approach? Waiting for compelling follow-through buying signals to confirm a potential near-term bottom for the USD-linked Gold before diving into bullish ventures.
The $1,900 and $1,920 zones take center stage. Its historical significance makes it a crucial point. If the reversal set-up sustains and the price breaks out both the descending trendline and the $1,920 level, a bullish week could unfold. However, the breakdown of the $1,900 level can trigger a USD-favored sell-off.
Stay tuned for more thrilling updates on the Gold market! Remember, trading involves risks, and I always recommend exercising caution and seeking advice from financial professionals. Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
XAUUSD: Summary of the day
Today, gold opened in 1942, followed by the highest to 1948, and is currently near 1940, the overall trend of wide volatility, is currently accumulating energy before 1940-1945, and will continue to maintain an upward trend if it can break through the 1950 pressure level!
Join me and don't let procrastination and hesitation stop you from making money!
Gold 19-20 short, short-term pressure bearish
Gold, this Friday once again showed the shape of bottoming out and rebounding. After hitting the lowest line of 03, it began to reverse, and closed around 14, forming a negative cross star with a long lower lead. The daily line did not continue, and it was under pressure at the position of the mid-term moving average , On the contrary, it fulfilled the rapid fall of the bears, and the fall on Friday is also likely to be the second test of the bears. With the poor continuity of the bulls, we are still not optimistic about the continued upward movement of gold in the later period. A bear is under pressure, and the current pressure on gold is maintained at the 20-line. This position will continue to serve as the watershed between long and short positions and the position of key pressure points in the later stage. If we continue to stand firm at this position for a long time, we will still prefer to Bulls, on the contrary, if the counter-drawing is under pressure and retreats on Monday, we can temporarily announce that the short-term long-term counter-drawing will come to an end, and the support below will remain around 1900. If gold rebounds first on Monday, see 19-20 Continue to short in the vicinity, the target is around 05-00, and the loss is 25.5. If the performance of the European market is strong and there is no intention of retracement, the position needs to be adjusted before the US market!
XAUUSD Buy opportunity on a 2 week horizon.Gold (XAUUSD) has been consolidating for the past 2 trading sessions, having held the 1D MA50 (blue trend-line) on Friday as Support. With the 4H STOCH RSI on a similar cross-to-cross sequence as July 05/06, one last pull-back inside the Ichimoku cloud, can be a Higher Low on an emerging Channel Up. If we see that rebound, we will buy and set a quick target just below the 4H MA200 (orange trend-line). If the price manages to close a 4H candle above it, we will buy again and pursue a final target at 1975 (just below the 2.5 Fibonacci extension).
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XAUUSD | Price Action | New Week perspective | follow-up detailsWelcome back to another episode where we dive deep into the dynamic world of Gold. The bulls' recent positive traction lifted Gold's price on Friday; Breaking a four-day losing streak, it surged from its lowest point since March, hovering above the pivotal $1,885 zone.
Adding to the intrigue, the US macro data paints a portrait of an exceptionally resilient economy, lending strength to the Federal Reserve's hawkish stance. This fortifies the US Dollar (USD), holding it near its peak for over two months, thus constraining Gold's ascent.
Beyond these nuances, traders exhibit a certain caution, likely opting to wait on the sidelines as the momentous Jackson Hole Symposium looms on the horizon next week. Brace yourselves for market volatility as central bankers' comments wield their influence. As the anticipation builds, US bond yields emerge as the juggernauts shaping USD dynamics in the absence of significant domestic economic data.
The broader risk sentiment becomes a compass that will be guiding our trading decision toward short-term opportunities.
Stay tuned as we navigate through the intricate tapestry of Gold's journey, dissecting trends, patterns, and possibilities.
XAUUSD Technical Analysis:
In this video, we delve into XAUUSD's price action, decoding accumulation, and distribution patterns. By analyzing historical price moves, market behaviors, and buyer-seller dynamics, we extract insightful cues. The strategic approach? Waiting for compelling follow-through buying signals to confirm a potential near-term bottom for the USD-linked Gold before diving into bullish ventures.
The $1,895 and $1,885 zones take center stage. Its historical significance makes it a crucial point. If the reversal set-up sustains and the price breaks out both the descending trendline and the $1,895 level, a bullish week could unfold. However, the breakdown of the $1,895 level can trigger a USD-favored sell-off.
Stay tuned for more thrilling updates on the Gold market! Remember, trading involves risks, and I always recommend exercising caution and seeking advice from financial professionals. Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Gold- Don't sell into this rally!!!Since Monday I have written that Gold is ready for a reversal and we'll probably have a test of 1930 zone resistance.
After 3 attempts of a new low blocked by bulls just under 1890, XauUsd finally exploded to the upside yesterday, breaking above 1905 minor resistance.
After the intraday high towards 1920, Gold corrected before NY close.
Overnight bulls took control once again and now we are back at 1920.
Technically speaking, XauUsd is bullish at this moment, trading above the descending channel resistance (the channel drawn since the beginning of August) and above the 1905-1910 horizontal resistance.
In my opinion, 1930 will be tested soon, and is very risky at this moment to try to sell into a potential correction, instead, buy dips should be the strategy.
To resume:
- XauUsd is bullish
- Buy dips with a focus on 1910
- Negation under 1900
- Target 1930
Gold is flirting with 1900. My target remains 1930 thoughAs I explained on Monday and yesterday, in my opinion, Gold will reverse and rise to test the 1930 resistance zone.
My opinion remains the same and after yesterday's price action is even reinforced.
As we could've noticed, after the touch of 1905 interim resistance (my initial target), Gold dropped and tested 1890 once more, bulls quickly took control leaving a nice H4 pin bar on our chart.
Also, XauUsd looks like it is forming a rounded bottom on shorter time frames, one more argument in favor of bulls.
To conclude, the strategy remains the same, buy dips with a target at 1930 zone and negation under 1883 low.
GOLD ( XAUUSD ) Long Term Trading IdeaHello Traders
In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET
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XAUUSD DAYTRADE SIGNAL!!!!Hello everyone i want share my idea about XAUUSD which is another signal from me.
Today London session Long gold which game me good profit but i didn't share here.
now i want share my price prediction about gold, but we need to be carefully because i think we will see big liquidity.
we saw after big bearish move, we see bullish things at gold, it found strong support at 1887.00 and start strong move upside which brake bearish daily trendline and daily resistance which is now support. at 30m timeframe it show us FVG which is 1897.75-1896.53 zone.
My signal setup.
Entry point - 1897.30
Stop loss - 1893.5
Profit Target - i will follow trend with trail stop if i will be right.
This is my plan for this week.
Good luck everyone!!!! ALWAYS USE RISK MANAGMENT!!!
1930 could be next for GoldAs I explained in my yesterday's post, although Gold is still contained in large a descending channel, the small descending channel started at the beginning of the month could represent a warning for bears.
Yesterday, XauUsd tried twice to make a new low and failed, another indication that an upside move could follow.
At the time of writing, Gold is trading at 1899, above the falling resistance of the narrow channel and above yesterday's high.
In conclusion, as long as 1883 is intact, I favor gains and the most obvious level for the target is 1930.
XAUUSD Still nothing bullish about it yet.Gold (XAUUSD) broke below the 1D MA200 (orange trend-line) for the first time since December 19 2022 and that of course didn't do any favors to the bullish cause. The trend remains bearish within a Channel Down since the May 04 2023 High and the technical outlook gets even worse as the 1D MA50 (blue trend-line) is on course to forming a 1D Death Cross below the 1D MA200, projected at the end of the month (would be the first such pattern since July 04 2022).
As a result we expect the price to remain under pressure and eventually test the 1W MA100 (yellow trend-line) within 1860 - 1850, regardless of a potential decline on the DXY (green trend-line) which was unable to lift Gold as we saw in June.
The bullish trend will re-emerge only if the price breaks above the Channel Down and more specifically, the 0.618 Fibonacci retracement level from the bottom at that given time.
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XauUsd could correct to the upsideIn my Friday comment, I said that XauUsd is contained in a descending channel and the first notable support is the confluence support from the 1850 zone.
However, looking at a shorter time frame we can see that the price is trading in a tight channel and, usually, this type of pattern leads to a reversal.
Also, bears look tired and need to catch their breath and in the Asian session, we have a strong reversal from 1885 of around 100 pips.
That being said, we can see some upside momentum for Gold with the first resistance coming into place at the 1905-1910 zone followed by the 1930 important one.
I'm bullish on the short term as long as the recent low is intact.
XauUsd could drop to confluence supportTwo days ago I said, that in the medium term (2-3 weeks) XauUsd could drop to very important 1820 support if 1900 zone support isn't holding.
In that days, Gold failed to stay above this important figure and made a new local low.
This new low confirms the 1880 high as a lower high and we can consider now trading in a channel.
The bottom of this channel is in fact confluent with the horizontal 1850 support and could represent the target in the shorter term (one week or so)
In conclusion, rallies above 1900 should be sold and, considering a negation level above the 1930 zone a 1:2 risk: reward could be achieved and a more than 500 pips gain for such a trade