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How To Look For a High probability Buy on XAU/USD 4-HOURHi Traders, Gold seems to be setting up for a High probability trade. I love how price is currently consolidating in a Falling wedge kind of manner, this indicates the first signs that price may continue exploding higher. Price is also currently bouncing off support at 1834.5, If this price holds, we will most definitely see price start tempting the highs of 1841.3 If Price is able to break this level I will start planning for a long position and ride the wave to 1873. This setup is pretty straightforward and by the book, as they say, our job now is to wait. If price does break and close below the support of 1832.3 I will no longer be interested in Long positions. Be safe in the markets. Renaldo Philander.
OANDA:XAUUSDLong
by Tradebudz
XAUUSD - KOG REPORT!KOG Report: In last week’s KOG report we again suggested we weren’t convinced by the bullish sentiment in Gold and we would be targeting lower levels on Gold. We stated that as long as the price stays below that 1960-65 level our target will be the 1890-95 price point. We updated this during the week with our plans together with the levels and targets for the short destination which you can see has now completed. We completed 17 targets across numerous pairs in Camelot giving us a pip capture which again was through the roof. That’s along side all the free trade ideas we had posted on TradingView. So, what can we expect in the week ahead? We will be looking for some bullish momentum in Gold in the week ahead with the immediate level we want to target being the 1917-20 region and above that 1925-30. What we do want to see however is a swoop on some voids below which could give us a double bottom on the 4H timeframe. The concerning thing for us is we still have lower targets that are active on Gold, so we will trade the new week and first few days of the month with caution. There is a chance they can swing low into the void, take liquidity from there and then push the price up before facing resistance and then dropping it again! For that reason we will have the weeks bias a bullish but overall bias will remain bearish for now! We want to see how the 1925-30 price point takes in the price if it gets there. We have shown the levels we are looking at and together with the support and resistance levels. We will break this down during the course of the week and take it step by step making sure we remain in the right direction on Gold, as we have been. Again, that 1960 price level is very possible and again, if we get that far up, we will be looking for the price to remain below this level to maintain our bearish view. Theirs is every possibility this can begin to settle in between this range of 1875 and 1930 so look out for the range, plot the levels and use the range trading strategy we have shared on TradingView previously. We will link it to this post for you! So as always, we will trade this with two scenarios in mind. Please read this carefully as the we can do so much to create the roadmap on the chart without cluttering it with too many lines and arrows. Scenario 1: We open and price find support around where we have closed or just below here. We feel this would be a good opportunity to test the long trade into the first level of 1915-17 and breaking that the next level of 1930. 1930-35 is where we want to again assess the price action and the structure of the chart before deciding whether to hold our trades or to then release all the longs and test the short trade back down to test the patterns neckline. Please note, that breaking above the 1935 price region could entail the price going further into the higher resistance level of 1960-65 where again we will look for the short. From 1935-1960 we will switch to our level to level trading strategy holding partial longs from the lows, if we get the entry! Scenario 2: Price pushes up from the open. We will not go long, rather wait for a retest of support to go long or if it doesn’t hit the 1915-17 level, or wait for the 1915-17 level to either resist the price or turn into support. Once this is confirmed we will be happy to go long to target the higher levels for support levels until we reach 1930-35 and above that 1960. At 1960 we feel the opportunity again will arise to short the market down into the lower support regions starting at 1910. We will of course update during the week. In summary: We have a lower level of 1858 as a target and higher level of 1960 and above that 1995 again. We either want to lows to be complete to give us the entries for the longs into the higher levels, or, we want the high to be complete so we can short it again down into our lower targets. New week, new month, we have a rule in Camelot where we take it easy during the first few and last few days of the month. Let the market settle and find its feet, the trades will come, it just requires patience, and patience pays!! Hope this helps in preparation for the week ahead, we will update you as we go along as we usually do. Please do support us by hitting the like button, leaving a comment and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
45
XAUUSD Gold : Don't trade today ,18.4, without seeing this! Let's preform a quick surgery on the Gold's chart ;) 1) Gold broke higher than a big weekly triangle consolidation on 8th of April 2022 once price surged above 1945 and confirmed with a close above. 2) Another consolidation in the shape of a wedge took place between 8th of April 2022 to 12th of April 2022 until price surged above 1960 and confirmed with a close above. 3) What launched both of the above points (breakouts) - Is a 'reverse head and shoulder pattern' which is a bullish reversal candlestick pattern. Feel free to read about it and expand your knowledge. A close above the neck-line of 1965 allowed for the continuation of the up-trend. 4) Currently Gold is facing resistance around 1995-2006 , with a close above - The new technical target would be to retest the ATH of March, ~2070. ***It's important to note that the clear bullish technical pattern is supported by strong bullish fundamentals of inflation and uncertainty*** ***It's important to note that Gold may not go up in a straight line and may retest support levels of 1980, 1960 and 1940 - But even so, the big picture trend would still be bullish*** ---------------------------------------------------------------------------------------- Thank you for going through my analysis, it's highly appreciated. If you found it useful - It would be amazing for me if you would like and follow. My goal is to help the trading community maximize it's potential -----------------------------------------------------------------------------------------
OANDA:XAUUSDLong
by Exactus
2