XAU USD Bullish trend begins first target is 1900 $Hey bulls, we have seen the Core Consumer Price Index (CPI) has made a bullish signal to the gold price, the actual is 0.6% the previous was 0.2%
Nov 10, 2021 .
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The U.S. Initial Jobless Claims
The actual is 267K the forecast was 265K the previous was 271K Nov 10, 2021.
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1870 - 1865 is strong resistance, I expect to see the price retrograde from it, as you can see as highlighted in the chart, but still going up to 1900 - 1910.
I expect to see some previous bulls will take some profits, so the price will slow down, new bulls will enter the bullish rally for gold next few days
we can enter a buy position and wait for some news at 15/11 - 16/11 news.
I prefer to strengthen our position at 1835 - 1830 with a buy order, just in case the price makes high volatility.
Buygold
Gold is Coming to an End !!!the side ways movement in gold is coming to an end and the triangle is almost done,
either we see a bounce from current levels and we get the activation by breaking 1793 level or we get a pullback to 1740 level to complete wave C of the triangle
but in both ways any retracement is a buy Signal.!!
Complicated Gold ScenarioGold might be preparing for a complex corrective wave that means the buying area will be near 1740/1748 levels.
don't get me wrong this scenario might not happen and we might see a surge in gold from current levels but you need to calculate the risks of a possible pullback.
1856 is a medium term target with current uncertainty in the capital markets- inflation- stagflation and earnings season.
Gold Buy Signal!!Gold proved several times after completing the downfall and targeting 1680 as a double bottom that the retracement at the first place from 2073 dollars an ounce is still corrective.
all the advanced yet the classical technical analysis is showing a momentum and a possible surge in gold prices in the medium to long term.
lets not forget the inflation effect on gold definitely on the long term not short one.
CPI figures, not the best job reports and many more.
new highs will be seen in gold sooner or later with a target of 2350$ an ounce if broken 2590$ as a 2nd target.
GOLD ENTERING MIDDLE OF PHASE C (RE-ACCUMULATION PHASE) ?This is my perspective about gold (xauusd) using wyckoff method in re-accumulation phase scenario, gold potentially entering middle of phase c, and we waiting for the price action showing us alot of buyers entry the market with impulsive bullish or rejection from the bearish candle,on that time gold potentially entering phase D
Buy setup for gold befor nonfarm payrollThis buy setup entry is only before nonfarm payroll. Let see how it go. On the red zone, again, that is not a SL, but its just imaginary SL,which is valid if the price close below the redline. I will strict on my active trade to BE if my entry in profit condition.
GOLD IS SET FOR A NEW BULLISH TARGETGOLD IS SET FOR A NEW BULLISH TARGET
August 30/2021
XAU/USD will be clinging to the next resistance line as the market sentiment is aimed at achieving a fresh buying power. While the bulls can have a highly substantial amount of factors that could trigger positive market conditions.
The bears on the other hand have tested a pullback below support on consecutive occasions but all action by the bears in response to push the price of Gold lower beyond the present support zone amassed to a failing input.
When looking at the XAUUSD market structure from a technical analysis standpoint we'll see that the entire volatility of the precious metal pair against the greenback is currently at a very low point. Where price action traders can sense a term of price rejection within the market demand zone it should be noted XAU/USD price has fallen from the highest supply position for 2075.10 which is said to be the highest point the price of Gold has ever attained in the overall history of gold trading against dollar.
Although the purpose of which the price of gold was said to have undergone a bearish experience can be attributed to the overbought condition the price of Gold was exposed to.
Presently the trading recommendation you can get if you're planning towards opening a XAUUSD position will be to stay in a long trading bias, as the volume of market participants demanding to raise the price of gold above the current level is very high.
To prevent yourself from suspicious brokers I choose WikiFx to research brokers:
BUY GOLD2 Possible scenarios.
1. Gold will drop to 1787 area then continue with the bullish trend. Or,
2. It will drop further to retest the major weekly orderblock at 1775 area, which will give us sniper buy entries all the way up.
Watch out for these two areas.
TP1: 1828
TP2: 1858
TP3: 1900
SL: 1758