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Forexpeacearmy

Pullback to 60.3KMorning folks, Probably I should make it as an update of previous idea... anyway... BTC shows upside bounce from the 1st 52K target. The pullback obviously is taking shape of reverse H&S pattern. Thus, the setup #1 for scalp bulls. You could think about this pattern, and its target around 60.3K For the bears it is nothing so far. You should watch for 2 moments - either H&S failure, or its completion around 60.3K Fib level and consider any ways for short entry there, if we get corresponding trading setup. For now it seems early to bet on downside continuation.
COINBASE:BTCUSD
by Sive-Morten
XAU price remains stable for many consecutive daysGold traders are calm on the first trading day of the week as there are several important economic events that will impact the price of the precious metal. The USD index has shown strength considering recent data, but gold traders remain optimistic that gold prices will continue to move higher as the precious metal has remained above key levels over the past week. The price of the precious metal has traded above 2,500, a level that many traders consider to be very important for a number of reasons. First, this is an important level because it shows the strength of the overall price trend. Second, gold traders believe that as long as prices continue to trade above these key levels, there is a good chance that they will continue to move higher for the rest of the year.
OANDA:XAUUSD
by NicoTradingMaster
50.60KMorning folks, So, BTC was so weak that even was not able to form the H&S pattern. Not as bad job data just pushed it below the floor... There are a few bearish signs exist now on higher time frames as well... So, obviously we do not consider by far any long positions. Maybe everything is not as bad yet to consider 44K downside target on 4H chart but... here on 4H chart it is quite possible to consider 50.6K next downside extension. Once it will be completed - keep an eye on major lows here. To keep bullish chances, BTC should not break it down. Otherwise downside action could become faster in nearest 1-2 weeks. Take care.
COINBASE:BTCUSDShort
by Sive-Morten
XAU may rise further in the short termGold is under pressure from weakness in global equities. However, the trend in gold prices remains bullish and these losses are only corrective. on the yellow metal’s resistance levels above $2,510/oz and expect gold prices to break $2,543/oz soon. The current environment is risky for most popular commodities and gold offers the best protection against depreciation. Accordingly, gold stands out as the commodity where Goldman Sachs has the highest confidence in the near-term upside. They continue to maintain their upside target of $2,700/oz by early 2025 and have opened a gold trading recommendation for three reasons.
OANDA:XAUUSD
by TrategySherpa
short term gold volatility forecastA major US bank, believes that gold is currently a safe investment asset against inflation. They predict that by early 2025, the price of gold could increase to $2,700/ounce, equivalent to VND82 million/tael. Central banks' gold purchases have tripled since mid-2022 due to concerns about US financial sanctions. The upcoming interest rate cut by the US Federal Reserve (Fed) could bring capital from the West back to the gold market, supporting higher gold prices. Geopolitical issues and US public debt also contributed to the increase in gold prices.
TVC:GOLD
by NicoTradingMaster
The same H&S planMorning everybody, actually I'm not sure that we need the "new trading idea" here, because this is just update on existed one. Everything goes with the plan. Now BTC comes to the neckline, and intraday bulls could start watching for small 15-min reversal patterns to make a decision on long entry. Target is the same - 61-62K, the top of right arm of our H&S pattern. Those who trade on daily/weekly basis just do nothing and wait for this area to consider short entry.. So let's mark this idea as "Long", because we're watching for 61K action, but as you understand overall setup is bearish...
COINBASE:BTCUSDLong
by Sive-Morten
1
Short Term XAU Trading StrategyGold stays strong with the principle uptrend withinside the quick, medium and lengthy time period. After receiving help from the principle confluence referred to with the aid of using readers withinside the preceding problem on the 0.618% Fibonacci extension, EMA21 and the decrease fringe of the rate channel, the rate has expanded to attain the restoration goal degree. The preliminary rate factor is $2,500. Looking ahead, if gold can damage above the bottom rate of $2,500 and surpass the 0.786% Fibonacci extension, the rate will qualify for the weekly upside goal of $2,531 withinside the quick time period and then $2,544. For the day, the bullish outlook for gold stays unchanged at a wonderful degree and could be indexed for readers as follows. Support: 2,484-2,471 USD Resistance: 2,500 - 2,503 - 2,531 USD
OANDA:XAUUSD
by NicoTradingMaster
Short Term XAU Trading StrategyEarlier, gold fell sharply to hit a more than one-week low, pressured by a rebound in the dollar, while investors awaited US non-farm payrolls data to determine the size of the cuts at the US Federal Reserve's September policy meeting. The dollar hovered near a two-week high, making gold more expensive for holders of other currencies. The market is pricing in a 63% chance of a 25 basis point cut at the Fed's next policy meeting scheduled for September 17-18, according to the CME FedWatch tool.
OANDA:XAUUSD
by TrategySherpa
61-62K for short entryMorning folks, BTC was not able to escape mass revision of public opinion, concerning next Fed move. Not occasionally last time we've expressed doubts that BTC could reach 67K target. Here we will not speak about all bearish signs that we see. To keep it short we have big bearish engulfing on weekly chart which makes us think that H&S pattern on 4H chart is very likely. Thus, scalpers could watch for 55K area for potential long entry. While our base scenario stands for the daily chart and it is bearish. We intend to watch 61-62K area for potential short entry. Although pullback to 61K is possible, I mark this idea as "bearish" based on our primary object
COINBASE:BTCUSDShort
by Sive-Morten
Is it really to 67K now?Morning folks, So, we've got what we wanted - BTC dropped and not only to 61K but slightly lower, to 59.5K. The major question now is whether we indeed will go to 67K or deeper retracement comes? In fact, riddle is relatively simple. BTC now stands at strong intraday Fib support area. To keep bullish context, it has to go up right from here. In this case 3-Drive "Sell" might be formed, but it starts right from 67K target. Yes, the big uncertainty exists, as recent drop was relatively fast. But at the same time, risk is not too high as market stands near the possible lows. IF, still downside drop will happen, it will mean that we get deeper downside retracement. Current setup is not perfect, but it has some attractive sides. To take part with it or not today is up to you. It has more uncertainty that our usual setups.
COINBASE:BTCUSD
by Sive-Morten
XAU market awaits US CPI newsXAU Markets Await US CPI News The DXY Index rose 0.3%, reducing the appeal of holding the precious metal. The market is pricing in a 67% chance of a 25bps rate cut by the Fed and a 33% chance of a 50bps rate cut Fed Chairman Jerome Powell last week backed the start of rate cuts next month, while expressing confidence that inflation could hit its 2% target. A report on Tuesday showed that while US consumer confidence rose to a six-month high in August, Americans were also growing more concerned about the labor market.
OANDA:XAUUSD
by TrategySherpa
World gold will reach 2,600 USD/ounce when the Fed cuts interestGeopolitical tensions continue to be a catalyst supporting the gold rally. In today's trading session, XAU/USD is expected to continue to maintain above the 2,500 zone and has the potential to increase further. However, investors should note that if the price closes below 2,499 on the H4 time frame, it could be a sign of a short-term correction. There is no news for gold today, the current trend is still sideways at 2482 and 2510, it can trade in this price range.
TVC:GOLD
by NicoTradingMaster
Indecision situationMorning folks, So, pullback that we've discussed on Thu has happened. But now we have two equal patterns on daily chart but in opposite directions. Our elder bearish grabber and new one on the bullish side. If you conservative enough - it would be better to stay aside and wait for clarity. We suggest that bearish pattern looks a bit better, just because of intraday price shape. All upside swings look slow and choppy. At the same time, it doesn't mean that you can't try to trade bullish pattern. Take a look that here we also have reversal bar, suggesting that BTC could move slightly lower. If you want to buy, you could try to use it to open position as close to the grabber's lows as possible. Just to minimize potential risk. If, still, we will be correct concerning bearish domination, next downside target is 54.35$ Fib support.
COINBASE:BTCUSD
by Sive-Morten
XAU Could Surpass All-Time HighThis gold buying trend is expected to remain unchanged in the coming period due to the impact of the current economic situation and geopolitical conflicts. At the same time, consumer prices have fallen after hitting a record high, easing pressure on the market. The focus of gold investors next week is the annual central bank conference at the Fed's Jackson Hole resort. Fed Chairman Jerome Powell will speak on Friday, expected to share the prospect of an upcoming Fed rate cut. Positive US inflation data in July has paved the way for the Fed to cut interest rates in September. The market predicts the Fed will cut by 0.25 percentage points at this meeting.
OANDA:XAUUSD
by TrategySherpa
Keeping the same scenarioMorning folks, Last time we said - no longs until bearish daily grabber is valid. So, it is still valid. But if you do not want to wait when situation will be resolved, or by any other reason you would like to buy - here is the life hack. ;) On 1H chart we have clear "222" buy shape with 56.70K target and strong K-support area. So you could try this strong area and try to take long position. Once minor bounce will happen - move stops to breakeven. So this strategy could let you to minimize risk or even to get some small profit if you're totally wrong. For taking the short position - it is necessary to wait for the bounce, because BTC right now is near strong support area.
COINBASE:BTCUSDShort
by Sive-Morten
No longs until 63K is takenMorning folks, So, Thursday plan worked nice - market was around 63K. Now situation is a bit tricky. First is, geopolitical situation is coming to the boiling point. Any activation in Iran will make negative impact on BTC, besides [b ]we have bearish grabber on 10-year bonds , suggesting drop back to 3.65% level. So geopolitical worryings are not in vain. Gold is opened up today as well... Besides, on BTC itself we also have bearish grabber. Situation with sell-off in Japan is also not clear by far. And we get GDP numbers this week. So, BTC could become ones again the major sell-off victim. That's why, until market keeps daily grabber valid we stay aside from any long positions. This risk will be erased if price jumps back above 63K area again.
COINBASE:BTCUSDShort
by Sive-Morten
1
XAU Rising Strongly After Deep FallGold (XAU/USD) rose on Thursday, snapping a four-day losing streak, although it lacked momentum and remained below $2,400 heading into the European session. Investors remain concerned about the economic slowdown in China and the possibility of a US recession. This, coupled with escalating geopolitical tensions in the Middle East, should act as a supportive factor for gold. Moreover, expectations of more rate cuts from the Federal Reserve (Fed) kept the US dollar on the defensive, confirming the positive outlook for the non-yielding precious metal.
OANDA:XAUUSD
by TrategySherpa
XAU increased sharply in today's US sessionDespite a slight decline from the early morning, the yellow metal has pared its gains from the day amid selling pressure amid concerns that demand will be sluggish in the coming period. Investors’ concerns were heightened as the official report released on Wednesday showed that the People’s Bank of China continued to hold steady in July. Thus, the bank’s reported gold reserves have remained unchanged for the third consecutive month. According to Krishan Gopaul, senior analyst at the World Gold Council, China’s gold holdings remain at 2,264 tonnes and still account for about 5% of its total reserves.
OANDA:XAUUSD
by NicoTradingMaster
Gold falls as investors sell offStock markets fell from Asia to North America as investors fled riskier assets while betting that the Federal Reserve will need to cut interest rates quickly to boost US economic growth. "Stocks are falling as the US jobs report (on Friday) showed the US economy created fewer jobs than expected last month, while factories across the US, China and Europe are struggling with weak demand," said Phil Flynn, senior analyst at Price Futures Group. The Bank of Japan (BOJ) raised its main interest rate again last week and also said it would halve the amount of government bonds it buys. The news of the tightening sent the Japanese yen higher against the US dollar. Tighter monetary policy in Japan, combined with the prospect of an imminent US rate cut, has shifted global investment flows, including the unwinding of the yen yield spread trade.
TVC:GOLD
by TrategySherpa