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Gold can exit from triangle and then drop lower support levelHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price a not long time ago declined a little lower than the buyer zone, but soon turned around and made a strong impulse up, breaking the 2325 support level. Later price reached a resistance level, which coincided with the seller zone and broke it too, after which made little correction and then continued to grow to the resistance line. When the price reached the resistance line, it turned around and in a short time declined to the support level, breaking the 2385 level one more time. Next, the price some time traded near the support level and later broke the resistance line, after which rose to the resistance level and at once made a downward impulse, lower than the 2325 level, breaking it. Also, Gold started to trades inside the triangle, where it bounced from the support line and quickly reached the support level, broke it, and reached the resistance line of the triangle. To this day, the price continues to trades near the resistance line, so, that's why I think that Gold can exit from the triangle pattern and then make drop lower support level, breaking it. For this case, I set my TP at 2290 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
3
HelenP. I Gold can make small movement up and then rebound downHi folks today I'm prepared for you Gold analytics. Some time ago price reached a resistance level, which coincided with the resistance zone and soon broke it, after which made little correction movement and then continued to grow to the trend line. When the price reached this line, it turned around and started to decline inside the downward channel, where Gold in a short time declined to the support line, breaking the 2385 level, and then started to grow. Later price rose to the resistance level again, but at once rebounded and made an impulse down to the support level, which coincided with the support zone and even fell to this area. Soon, the price turned around and started to grow, thereby making a fake breakout of 2300, after which the price made a correction to the support level and now rising again. For my mind, XAUUSD will make one more movement up and then rebound down to the support zone. That's why I set my goal at 2290 points. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDShort
by FirstNameHelen
5
Gold's Bearish Trend Below Key ResistanceTechnical Analysis: Gold The price has consolidated between the 2321 and 2302 zones as previously mentioned. Current Outlook: The trend appears bearish for today, as the price has stabilized below 2321. As long as it remains under 2321, it is expected to touch 2302. Bullish Scenario: For a bullish trend to be activated, the price must break through the resistance zone between 2321 and 2327, targeting 2337 and 2357. Bearish Scenario: As long as the price trades below 2321, it is likely to drop to 2302. A 4-hour candle close below 2292 would suggest a further downtrend towards 2260. Key Levels: - Pivot Line: 2321 - Resistance Levels: 2337, 2357, 2369 - Support Levels: 2302, 2292, 2260 Today's Expected Range: The price is anticipated to move between the support at 2260 and the resistance at 2328. In summary, maintaining a position below 2321 supports a bearish outlook, targeting lower support levels. Conversely, breaking above the resistance zone could shift the trend to bullish, aiming for higher targets.
OANDA:XAUUSDShort
by SroshMayi
GOLD - last crash, then a new all time high! (buy here)GOLD is probably preparing for a last small crash to the main support of the expanding triangle in the major timeframe. This is a great opportunity to buy GOLD at the bottom of an expanding triangle because it is also in confluence with the 0.382 Fibonacci retracement. This Fibonacci level is very strong together with 0.618 because 0.618 + 0.382 = 1. You can buy gold here, or enter a long position on futures with leverage to increase your potential profit.  You probably know that I am very bullish on GOLD for the next few years and expect at least a double in price. After many years of sideways price action, GOLD finally broke out and made a significant new all time high. GOLD seems undervalued and should go higher.  It's always important to look at the Elliott Wave analysis, as it gives us a better understanding of the whole market structure. Where on the map are we currently? On the chart, you can see an impulse wave (12345) and after such move we can expect a corrective structure, such as ABC or WXY. Usually, you want to take a Fibonacci retracement of the previous impulse wave and look for 0.382 FIB or 0.618 FIB. I don't think GOLD will go all the way down to 2155, that would be pretty bearish after the previous breakout to a new all time high. Buying gold at current levels is definitely a good idea, but if you want better price and timing, I would take the 0.382 FIB. This will also increase your risk-to-reward ratio. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
OANDA:XAUUSDLong
by Xanrox
11
Falling towards pullback support, could it bounce from here?XAU/USD is falling towards a support level which is a pullback support and could potentially bounce from this level to our take profit. Entry: 2,292.30 Why we like it: There is a pullback support level. Stop loss: 2,271.43 Why we like it: There is a pullback support level that lines up with the 161.8% Fibonacci extension. Take profit: 2,334.80 Why we like it: There is a pullback resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAUUSDLong
by VantageMarkets
XAUUSD - 15m Sell ScalpOn the 15-minute chart, XAUUSD is breaking below crucial support trendlines, suggesting an increased bearish momentum. The weakening support, indicated by the failure to sustain above these trendlines, points to a potential decline towards lower support levels. Traders should be cautious as the breakdown may accelerate selling pressure, leading to further downward movement in the gold price. Monitoring the price action closely around current levels could provide insight into whether the bearish trend will continue or if a short-term consolidation might occur before any recovery attempts.
FX:XAUUSDShort
by Sober_Trading
Gold Market Reacts to Powell's Inflation Warning!!!Technical Analysis: Gold The price of gold recently reached 2341 before declining in response to Federal Reserve Chair Jerome Powell's statement that "inflation is still too high." Based on this, the market is expected to trade within a bearish tactical outlook. Current Outlook: Gold is likely to touch 2302 and then consolidate between 2302 and 2321 until a breakout occurs. Bullish Scenario: As long as the price remains above 2302, it is expected to attempt to reach 2311 and 2321. A break above the 2321-2327 range would indicate a shift to a bullish area, targeting 2337 and 2357. Bearish Scenario: Should the price stabilize below 2302, confirmed by a 1-hour candle close, it is expected to drop to 2292. A subsequent 4-hour candle close below 2292 would confirm a bearish trend, targeting 2278 and 2260. Key Levels: - Pivot Line: 2302 - Resistance Levels: 2321, 2337, 2357 - Support Levels: 2292, 2278, 2260 Today's Expected Range: The price is anticipated to move between the support at 2278 and the resistance at 2328. In summary, maintaining a position above 2302 suggests a potential bullish movement towards higher resistance levels, while trading below 2302 indicates a bearish trend with lower support targets in focus.
OANDA:XAUUSD
by SroshMayi
Gold levels heading into US CPI, FOMCGold managed to rose for a second day after Friday's strong NFP selloff, but bulls clearly lack conviction looking at the small bullish candles on the daily chart. This has allowed a retracement channel to form on the 1-hour chart, which suggests momentum could eventually turn lower. With US CPI potentially coming in hot and the Fed pushing back on cuts, it could be a game of two halves which could send gold initially higher before rolling over. The weekly pivot point around 2322 and high-volume node / upper 1-day implied volatility band around 2332 make likely targets for bulls, or areas for bears to consider fading into. Of course, be on guard for explosive volatility around these events, as volatility can cut both ways.
FX_IDC:XAUUSD
by CityIndex
XAUUSD - Gold 4hrSimple trading - Trend breakout BULLS: No more bearish liquidity on the intraday timeframes. With new higher highs, Gold may have enough momentum to head towards 2330 and remain above the 2340 price. CPI Report came back negative which may allow gold to maintain above the previous support 2310-15. BEARS: Gold has NOT completely rejected the 4-hour HEADS and SHOULDER. This is because gold has broken above the neckline, Yes. But technically this could be the retest we have been waiting for. If the price falls below 2310 and fails to hold above the downtrend bottom channel, expect gold to freefall to the next support area. *These are just my thoughts, not financial advice.
CITYINDEX:XAUUSD
by nikdobii
Gold Market Poised for Volatility Amid CPI and Fed Rate DecisionTechnical Analysis: Gold The price reached our target from yesterday and still trades at the same zone. Current Outlook: The price is expected to reach 2302 and then push up again. Stability above 2321 would indicate a bullish trend. Generally, the price will consolidate between 2321 and 2302 until a breakout occurs. Market Volatility: Today's market will be influenced by the CPI release and the Federal Reserve's rate decision, leading to increased volatility. Bullish Scenario: If CPI is less than 3.4%, the price should break above 2321 to continue the bullish trend towards 2344 and 2357. Bearish Scenario: If CPI is more than 3.4%, the price may drop to 2302. Stability below 2311 for a 15-minute candle would indicate bearish pressure. A break below 2302 on a 4-hour candle close would target 2292 and potentially 2260. Key Levels: - Pivot Line: 2302 - Resistance Levels: 2333, 2357, 2377 - Support Levels: 2302, 2292, 2260 Today's Expected Range: The price is expected to move between the support at 2292 and the resistance at 2357. Our previous Prediction:
OANDA:XAUUSDLong
by SroshMayi
GOLD - Price can exit of pennant and then break resistance levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Recently price entered to falling channel, where it at once broke $2375 level and fell to support line of channel. Then price some times tried to rise, but anyway fell back to support line, which coincided with $2320 level. Later Gold made upward impulse higher than $2375 level, breaking it and exiting from falling channel. Soon, price turned around and quickly declined lower than $2375 and $2320 levels inside pennant. Also recently, price turned around and started to grow, so, in my mind, price can exit from pennant and reach resistance level. After this, Gold can break $2320 resistance level and continue to grow to $2340 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
6
Gold is currently exhibiting bullish trend activityTechnical Analysis: Gold Gold is currently exhibiting bullish trend activity. The price is stabilizing in the bullish zone and is expected to continue rising towards the bullish targets of 2321 and 2327. A break above 2328 would indicate a continuation of the bullish trend towards 2357, especially in anticipation of the CPI and FED rate decisions tomorrow. Bullish Scenario: As long as the price remains above 2302 and 2292, the bullish trend is expected to continue towards 2321. If it breaks above this level, the next target is 2357. Bearish Scenario: For a bearish trend to develop, the price must break below 2292 on a 4-hour candle close. This would signal a move towards 2278 and potentially 2260. Key Levels: - Pivot Line: 2302 - Resistance Lines: 2320, 2333, 2357 - Support Lines: 2278, 2260, 2248 Today's Expected Range: The price is expected to move between the support level of 2292 and the resistance level of 2328.
OANDA:XAUUSDLong
by SroshMayi
Heading into pullback resistance, could it reverse from here?The Gold (XAU/USD) is rising towards the pivot which acts as a pullback resistance and could reverse to the pullback support. Pivot: 2,319.97 1st Support: 2,286.09 1st Resistance: 2,351.54 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XAUUSDShort
by ICmarkets
GOLD Struggles as Robust NFP Report Boosts USDGold has entered a bearish consolidation phase following the release of a robust Nonfarm Payrolls (NFP) report, which revealed that the US economy created significantly more jobs than anticipated in May. This unexpected job growth has prompted investors to reconsider their expectations for a September interest rate cut by the Federal Reserve (Fed). Consequently, US Treasury bond yields remain elevated, and the US Dollar (USD) has surged to nearly a one-month high, creating a challenging environment for the non-yielding yellow metal. Market Dynamics 1. Strong NFP Report: The recent NFP report showed substantial job creation, far exceeding market expectations. This has dampened hopes for an imminent rate cut by the Fed, influencing market dynamics significantly. 2. Elevated US Treasury Yields: The strong jobs data has kept US Treasury bond yields high, as investors adjust their portfolios in anticipation of a delayed rate cut. 3. Strengthened USD: The USD's rally to a nearly one-month high further pressures gold prices, as a stronger dollar makes gold more expensive for holders of other currencies. Technical Analysis RSI Divergence on H4: Despite the bearish outlook, there is a noticeable divergence in the RSI indicator on the H4 timeframe, suggesting potential for a bullish reversal. This divergence occurs in a significant support area, indicating that a rebound may be on the horizon. Trading Strategy Given the current market conditions and technical indicators, our outlook is leaning towards a long position. Here are the key considerations: - Support Area: The presence of a strong support area and RSI divergence on the H4 chart suggest that the downside may be limited and a recovery could be imminent. - Risk Management: Traders should implement strict risk management strategies due to the overall bearish sentiment and strong USD. Setting stop-loss orders below the support level is advisable to mitigate potential losses.
OANDA:XAUUSDLong
by FOREXN1
1
Gold Steady; Focus on US Inflation and FedTechnical Analysis with fundamentally The price has followed its bearish trend, reaching our target of 2290 The price will touch 2302 and then will consolidate between 2302 and 2292 till breaking Bearish Scenario: The price may correct to 2302. If it remains below this level, it will drop to 2292. A break below 2292 could lead to a further decline towards 2278, a strong support line. Bullish Scenario: For the bullish trend to continue, the price must break above 2303 and stabilize. This would pave the way for a move towards 2321 and 2328. Pivot Line: 2302 Resistance Lines: 2320, 2333, 2357 Support Lines: 2278, 2260, 2248 Today's expected price movement range is between the support level of 2278 and the resistance level of 2305. previous idea: Gold Steady After Sharp Sell-Off; Focus Shifts to US Inflation Data and Fed Decision Gold Prices Stabilize: Gold prices steadied on Monday after experiencing the largest drop in three-and-a-half years in the previous session. This decline was driven by disappointing economic data from China and the U.S., affecting speculators betting on Chinese demand and a potential Federal Reserve interest rate cut. China's Impact on Gold Market: Julius Baer analyst Carsten Menke noted that the People's Bank of China (PBOC) has historically had phases of buying gold followed by prolonged breaks. "As long as the PBOC doesn't resume buying, gold prices could trade sideways since Chinese buying is a key market focus," Menke explained. Market Sentiment and Volatility: Menke also highlighted the significant sentimental shift seen last Friday and expressed skepticism about a similar volatility outbreak this week unless there are major surprises from the CPI or the Fed, which he considers unlikely. Focus on U.S. Inflation and Fed Decision: Attention has now shifted to the U.S. consumer inflation report, due on Wednesday, coinciding with the Fed's policy decision. The U.S. central bank is not expected to change rates this week. Instead, the focus will be on Fed Chair Jerome Powell's comments and any updates to economic projections from policymakers. Interest Rate Cut Speculation: Expectations of a Fed rate cut in September have dropped to 49% from around 70% before the latest jobs data. UBS analysts noted, "We expect the Federal Reserve's median 'dots plots' to show two cuts in 2024, down from three, but inflation should still moderate, and a September cut remains our base case."
OANDA:XAUUSD
by SroshMayi
Potential bullish rise?XAU/USD is reacting off a support level which is a pullback support and could rise from this level to our take profit. Entry: 2,285.63 Why we like it: There is a pullback support level. Stop loss: 2,263.13 Why we like it: There is an overlap support level which lines up with the 161.8% Fibonacci extension. Take profit: 2,320.23 Why we like it: There is a pullback resistance level which aligns with the 38.2% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAUUSDLong
by VantageMarkets
XAUUSD 9/6/24Second markup of the week of course has to be gold, Are two major pairs looking quite similar this week with a 4 hour breakdown a four hour range that holds no low yet & of course a range created by the NFP. Our ideas for gold are the following price running down taking out the low we have marked for liquidity this ultimately delivering our four hour low of our range from that point we would expect price to pull back within the bearish range if it is going to continue to sell off! If we do not take out this low and we form the range of low without liquidating we will still be looking for the pullback to occur, The option that runs parallel to this is price creating the low breaking it shortly after and making a smaller range continuing down without a pullback. As always this is speculative and we are looking for price to deliver this range low before we begin to overpredict what price may or may not do. We are looking for price to sell off this week if it does not deliver and we shift bullish and we will be aligning with higher time frame narrative but as of now we are clearly bearish on this pair and we are expecting price to align with that as we come into our first sessions of the week. Very simple outlook look for 4 hour load to form wait for price to pull back and expect new cells to come into the market. Worst case scenario is the bias is completely incorrect and we see no trade given but as always we will read price action and trade what is being delivered to us. Wishing you all the best trading week use appropriate risk read price action always use a stop loss.
OANDA:XAUUSD
by rosshayes
GOLD (Reversed - NFP Coming...)Technical Analysis The price has successfully followed its bullish trend, reaching our target of 2386. Today, the market is expected to be highly volatile due to the reports on non-farm payroll (NFP) and unemployment rate. Depending on these economic indicators, the price might correct to 2357 before dropping to 2328. It is crucial to monitor the closing of the 4-hour candle for further direction. Bullish Scenario: For the bullish trend to continue, the price must break above 2357 and stabilize. This would pave the way for a move towards 2369 and 2397. Bearish Scenario: The price may correct to 2357. If it remains below this level, it will drop to 2328. A break below 2328 could lead to a further decline towards 2320, a strong support line. Pivot Line: 2357 Resistance Lines: 2369, 2377, 2397 Support Lines: 2335, 2327, 2302 Today's expected price movement range is between the support level of 2302 and the resistance level of 2397. previous idea:
OANDA:XAUUSDShort
by SroshMayi