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GC1! (Gold Futures)

GOLD → Bearish trend resistance breakout. realistic? OANDA:XAUUSD makes a false breakout amid the news. The price is testing the 1900 liquidity area. The chart set-up and pin-bar form a bullish potential On the chart we also see the strengthening of the price. Gold makes an attempt to break the bearish resistance and for a few hours the price forms a consolidation above the previously broken line. On the chart I have indicated the upper boundary at 1912.7. I think there is a chance that after a strong fall, the price may go into a consolidation or flat format. 1912 is a strong and liquid resistance and is likely to push the price back to the support, which will only confirm the flat. Our task after the breakout of trend resistance is to pay attention to strong levels to open positions for breakout, rebound or false breakout. It is too early to talk about the trend change. We are watching the price. The price is testing MA-50 for a breakout. If it happens, gold will strengthen to MA-200. Support levels: 1902, 1900 Resistance levels: 1906.5, 1911.5, 1912.7 I expect a correction to the resistance. From 1912 a pullback and retest of support is possible. Regards R. Linda!
OANDA:XAUUSD
by RLinda
22
XAUUSD hit the 1D MA200 for the first time in 8 months.Gold (XAUUSD) easily hit our 1913 short-term target within the narrow Channel Down, as presented on our last idea (see chart below): As the price hit yesterday the 1D MA200 (orange trend-line) for the first time since December 20 2022, it is time we look again at the long-term charts in an attempt to identify potential Support/ Pivot levels. On the 1D time-frame, we have Support 1 at 1893 which along with Resistance 1 (1987.50) form the most noticeable pattern on the 1D time-frame, a 3 month Rectangle. As long as the 1D candle closes above the 1D MA200, we may see a bounce without a Support 1 test. In either case, we will buy and target 1980 (just below Resistance 1). If however a 1D candle closes below Support 1, we will take the loss and sell instead targeting the 1W MA50 (red trend-line) at 1870. Amidst the above, once/ if the 1D RSI breaks below its 30.00 barrier, Gold will start turning into a solid long-term buy opportunity, so regardless of having hit the 1870 target or not, we will close the sell and turn bullish again, targeting initially the 1D MA50 (blue trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
GOLD → The Bears continue to dominate. Ahead of CRS, RSOANDA:XAUUSD continues to update the lows. The price bounces from the local liquidity area of 1903 and forms a correction, making another attempt to retest the trend resistance The upper boundary of the descending channel does not let the price yet, most likely targets below the most important. Reports released today are: 1) Core Retail Sales (no data, the previous ones were bearish) 2) Retail Sales (expected to strengthen) After retesting the support, it is likely that the price may head up to retest the trend resistance, there is a possibility that the price may break the line and start to form a flat (consolidation) before moving further to one side or the other. A global bearish trend dominates the market. I still expect a retest of 1900 as a priority (a false breakout is possible) Moving averages act as resistance Support levels: 1905, 1903, 1900 Resistance levels: 1908.3, 1912.7 In priority, I expect the price to fall from the channel resistance to 1900 with the subsequent rebound and the formation of a flat on the background of the bear market. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
🥇GOLD - The price is getting ready to drop. False breakout Gold is testing trend resistance again, Price is forming a strong consolidation and there is a noticeable lull in the market, most likely before the storm TA on the high Timeframe: 1) Local support is forming at 1912, and consolidation near the level 2) There is still a potential for a decline to 1902. TA on the low timeframe: 1) Price is forming a bounce from trend resistance after a false breakdown 2) If the price can break the support of 1912, 1910 then it will head down to 1900. 3) The trend is bearish and I expect the price to decline in priority. Key resistance📈: 1915 Key support📉: 1912, 1910
OANDA:XAUUSDShort
by Gold-Tech
13
Choppiness to translate into weakness?The gold market has been volatile in the past few days, prompting us to maintain a neutral stance in the short term. However, what caught our interest during this time was MACD trying to cross through the midpoint on the daily chart. If successful, this event will likely coincide with more weakness in gold, potentially dragging it toward the area between $1,900 and 1,910 (and eventually, maybe even lower). Besides concerning MACD, indicators like RSI and Stochastic also show bearish signs. As a result, we are growing a bit bearish on gold in the short term (though we remain bullish in the long term). It would not surprise us to see investors take profits from gold if the selloff in stocks continues. We saw this occurrence in 2022 on multiple occasions, and we think it is also a real possibility in the future. Therefore, we continue to wait for a better bargain before adding more gold to our portfolio. Illustration 1.01 Illustration 1.01 displays the daily MACD approaching the midpoint. Technical analysis Daily = Slightly bearish Weekly = Neutral Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDShort
by Tradersweekly
17
GOLD → The price may form a Flat. What does that mean? OANDA:XAUUSD is in a local bearish trend. Within the current trend, the price is testing resistance. Two scenarios are possible: either a breakout or a rebound. What to expect? The price tests the trend resistance and goes beyond it. If the price can consolidate above the level of 1914 after the channel breakout, the price may form a potential upside to 1924.8 But again, the price may form a false break of the trend resistance, in this case the price return to the channel boundaries will confirm the bearish potential, the price will head down to break 1912.7 and continue its fall to 1900. Break of resistance and growth to 1924 may form consolidation or flat 1924.8 - 1912. If the upper boundary of the future flat is retested, we can look for sell signals Support levels: 1912 Resistance levels: 1915, 1924.8 I expect one of the scenarios to develop, it is important for us to wait for confirmation. Most likely a flat formation may follow and in this case the price will initially head towards 1924.8. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24
GOLD → The market is ready to continue its declineOANDA:XAUUSD continues to form a descending price channel. On Thursday a candlestick pattern is formed indicating the imbalance of forces in favor of sellers. This week is published quite a lot of interesting news. It is worth paying attention to: 15.08 1) Core Retail Sales (no data, the previous ones were bearish) 2) Retail Sales (expected to strengthen) 16.08 1) CPI (expected to decline) 2) FOMC Meeting Minutes 17.08 1) Initial Jobless Claims (no data, previous ones were bearish) 2) Fed MI In general, bad indicators for the dollar may strengthen the interest in gold, but again, we should not forget that news is a complex trading instrument. From a technical analysis perspective, gold is approaching the strong 1902-1900 liquidity area. Last week's session is closing very close to local lows, which can be interpreted as the market's willingness to continue to gain momentum for further declines. A strong bearish trend dominates the market. Local support: 1912.5, if this line is broken, an impulse to 1900 is possible, but a rebound should be expected from the mentioned support, most likely a rebound may follow during the news. Support levels: 1912, 1902, 1900 Resistance levels: 1915, 1920, 1935 Gold continues to decline, and most likely, from the opening of the new week the price may continue to fall, but in the second half there may be a rebound and local contrend strengthening. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
GOLD → Resistance retest and false breakout of MA-50OANDA:XAUUSD is testing the indicated target support at 1912.7. A false breakout is formed and the market reacts with a rebound to the false breakout of the liquidity area The price is testing the resistance of the next bearish channel. There is a possible reaction in the form of a fall from the resistance and at the same time, the price may test the resistance area above, there is no sense to talk about a change of trend and global growth now, I stick to the fact that the fall in the medium term will continue. For us an important resistance area, in a bear market, will be the zone: 1919.6, 1924.8, 1930.2. Moving averages act as resistance, the price is already testing MA-50 in the format of a false breakout. Resistance levels: 1919.6, 1924.8, 1930.2. Support levels: 1912.7, 1900 I expect the price to fall along the trend from the resistance areas. Strong bearish trend dominates the market. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
17
GOLD → Counter-trend correction before further decline OANDA:XAUUSD is testing a key liquidity area after breaking triangle support. The price updates the global lows and confirms the presence of an ongoing bearish trend The price fails to reach the support at 1912.7 and forms a rebound. Most likely the target of 1912.7 is still valid, but before the support is retested the market needs more liquidity and for this purpose a correction is formed to retest the previously broken level. The price is heading towards the triangle pattern. The line of 1922.5 can be tested, or the price can go a little further, for example to 1927.5 or to 1932. It is impossible to talk about global growth now, the price is in a strong falling movement and continues to update the lows. We are looking for strong resistance areas to sell. Resistance levels: MA-50, 1922.5, 1927.5. Support levels: 1915,5, 1912.7 I expect the decline to continue after the retest of these resistance levels. Bearish trend reigns on the market. Take it into account in your trading. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24
🥇GOLD - price corrections before a trend-following decline Gold finally breaks the lower boundary of the bearish channel. The market is forming a 0.6% impulse drop and the price is testing 1914.4. Technical pullback may fix the price in the zone for selling after which the fall will continue TA on the high timeframe: 1) Breakout of the range support forms a strong impulse. The way is open for a decline to 1892 2) Price forms a retest of the liquidity area. High chance of a rebound TA on the low timeframe: 1) Channel support is finally broken. Price formed an impulse to 1913 after which we see a correction to retest the previously broken support 2) Most likely the price may test the old flat - 1923.8, form a false breakout and continue its fall in the direction of the trend. 3) It is worth paying attention to the level of 1923.9, 1930.9 to look for sell signals. Key resistance📈: 1923.9 Key support📉: 1913, 1900
OANDA:XAUUSDShort
by Gold-Tech
10
GOLD → The bear's paw regulates the market. The red zone OANDA:XAUUSD is forming a setup that can accumulate the potential to continue falling. The price is testing local support and forming a rebound before further decline The global bearish trend continues to develop. The price failed to pass through the 1980 area, forming a false breakout of the resistance area. A downward price channel is formed on the chart, after breaking the trend support the price forms a prolonged consolidation below the support. A descending triangle is formed, which can be interpreted as a dpavlenie prodlavleniya on buyers in the area of 1922. Moving averages show a strong trend and act as resistance. MA-50 confirm the local resistance of the triangle. Support levels: 1923,5 Resistance levels: 1927.5, triangle resistance In the medium term, I expect a continuation of the fall, but before that there may be a rebound to 1927-1930. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
15
GOLD → Waiting for a trap before a further fall OANDA:XAUUSD is still testing trend support and testing the market reaction. The price is not able to grow at the moment and continues to update local lows On the futures market, the price failed to pass through the 2000 area, on the spot market, the situation is simpler - we see a continued decline in price. The price is trying to get out of the descending price channel, but apparently gold is in the liquidity area, which does not let the price below 1930. A global upward shakeout may follow before a further decline. Or, if the price overcomes the resistance of 1943, then the market will enter a recovery phase and strengthen the price. The potential for growth to 1954-1970 will be opened. At the moment consolidation below the support is forming - a signal for a possible sale. Medium-term outlook 1927-1970 Support levels: 1930, 1927.5 Resistance levels: 1943. 1954 I expect a shakeout or false breakdowns of the local resistance and if the price continues to consolidate below the support, the market will give us a drop. BUT! If the price returns beyond 1943, the growth will start within the descending channel Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
22