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Gold-trading

GOLD, Triangle Forming, Bearish Breakout More Likely!Hello Traders Investors And Community, Welcome to this analysis where we are looking at GOLD 4-hour timeframe perspective, the recent events, the current formation building, what are likely outcomes the next times and how to handle these possibility. Since GOLD established its heavy bearishness to the downside it is now trading in somewhat a sideways movement where it has to show if more bearish pressure will follow or a reversal will show up which is the more unlikely scenario currently, therefore I detected the important levels and outcomes we should consider in GOLDs destiny now. Looking at my chart you can watch there GOLD moving in this established triangle formation where the upper and lower boundary marked in blue and already touched several times, such formations can confirm either to the up or downside and it is from high importance to wait on the proper breakout before going in the direction. As GOLD has shown high bearish selling volume and is trading below the important EMAs the bearish breakout is at the moment more likely than the bullish one, when coming to the possibilities the bearish breakout has a 65 % possibility compared to the other 35 %, therefore we can anticipate the bearish breakout more to happen which will show up when GOLD moves below the lower boundary with a decisive bearish move and closes there, what will be good to confirm further bearish continuation is a pull-back to the lower boundary confirming it, this can be traded conservatively after the confirmation has occurred, it is also possible to enter immediately aggressive however this would be not the best option as there is still a marginal possibility given that GOLD breaks out to the upside. The bearish breakdowns GOLD established since it formed its top some time ago should still not be kept by side as it is not unusual that there will follow more bearish pressure when these movements already established before, in this case, we should not over speculate the situation and wage the possibilities rightly, more continued bearishness visiting lower levels does not necessarily mean GOLD is completely bearish on the middle and long term as there are still some important signals to consider on the higher timeframes. In this manner, thank you for watching, support for more market insight, good day to you and all the best! "Science is organized knowledge. Wisdom is organized life." Information provided is only educational and should not be used to take action in the markets.
TVC:GOLD
by VincePrince
5
GOLD UPDATE, Resistance Confirmed, Setting Up For Another Leg!Hello Traders Investors And Community, welcome to this update-analysis where we are looking at GOLD 1-hour timeframe perspective, the recent events, the current structural importances, what to expect next times, what to not expect and how to handle the situation appropriately. A mentioned in previous analysis and expected GOLD confirmed its huge resistance between the 2010 and 2030 level bearish where it now showed an increased volatile bearish move to the downside confirming the bear-flag-formation it has formed, if you did not saw this analysis already I highly recommend you watch it when going to my account, for now, GOLD is still moving above the 1000-EMA, therefore, it is important if it holds this level where the possibility is quite marginal or it falls below and continues bearish to the downside which is a much more likely scenario currently, in this case, I detected the important levels to consider now. Looking at my chart you can watch there the confirmed bear-flag-formation together with the coherent wave-count overall confirming the bearish pace here, currently GOLD has found some marginal support at 1915 where it bounces a little but this bounce is not strong and is directly trading into resistance which is the 200-EMA marked in red in my chart, when GOLD approaches this EMA it has a high possibility to confirm bearish and bounce from this level, GOLD is not yet over with its bearish declines therefore we can expect a consolidation here in the range between the 200-EMA and 1000-EMA before forming another sudden leg to the downside which is the most possible scenario at the moment, currently, there is not much potential given for new highs the next times as strong resistance levels lying there and the established bearishness should not be ignored, possible entries can be after a bounce from 200-EMA or fall below 1000-EMA. In this manner, thank you for watching, support for more market insight, all the best! Information provided is only educational and should not be used to take action in the market.
TVC:GOLD
by VincePrince
7
GOLD, Further Decline Follows Up When Range Cant Be Hold!Hello Traders Investors And Community, welcome to this analysis where we look at GOLD daily timeframe perspective. GOLD has shown a heavy decline bearish to the downside where it recently found support and forming some little uptrends which is normal after such heavy decline, currently we can not one hundred percent deny the bearish continuation scenario as the declines where just to strong therefore it is important to look at the situation in a neutral mind and do not overspeculate it as it is happening too often these days, in this case, I detected some importances which we should consider now next times. Looking at my chart you can see that GOLD just bounced at the first ascending trendline marked in blue which is also matching with the 45-EMA marked in orange building up together support here which was strong enough to send GOLD into this nice little rally. Now GOLD is approach still strong resistance which it has between the 2010 and 2040 level marked in blue in my chart, when GOLD approaches this area there will highly likely follow a bounce back as this is a strong resistance, when GOLD does this it will test the first ascending blue trendline where it will highly likely break to the downside considering the strongness of resistance. When GOLD shows up with the likely scenario and moves below the trendline it will approach the next sufficient support which it has firstly at the rising-trendline in red matching together with the 45-EMA in orange and building a coherent support-cluster here where a bounce to the upside is possible, this bounce can stabilize GOLD and possibly set up to form new growth but when this does not happen and GOLD shows bullish weakness further it can even fall more below the trendline pointing to the next EMA targets at the 100- and 200-EMA marked in black and blue in which a remaining possible stabilization can occur. In this manner, thank you for watching, support for more market insight, all the best! Information provided is only educational and should not be used to take action in the market.
TVC:GOLD
by VincePrince
11
GOLD, Moving In The Decisive Triangle-Formation!Hi my friends, Welcome to the analysis we are looking at the 12-Hour GOLD timeframe perspective, the recent events, the current formation forming, what we can expect the next times, and how to distinguish the possible scenarios lying in front of us in the GOLD chart. Since GOLD established the heavy breakdowns to the downside before the stock market and other assets it was an early runner in the market, the established bearishness was heavy and it marked a swift paradigm shift, in this case, we need to contemplate how and when the bearishness follows and if there can be a stabilization or not, in this case, I detected the important levels we should consider now to anticipate GOLD next outcomes. Looking at my chart you can watch there this huge descending-triangle-formation marked the upper and lower boundary in blue, furthermore GOLD is building a logical wave-count within this triangle where it is currently forming the minor waves of the major wave E which is the final wave in the wave-count, this wave can possibly complete the wave-count and be the origin of a short-entry when it completed and bearishness sets in, it is important how this bearishness establishes when it is a heavy bearishness with high volatility the descending-triangle will highly likely break out to the downside as it is marked in my chart, GOLD will visit exceptionally lower levels then. Overall GOLD has higher potential to complete this formation bearish to the downside, there is however a smaller percentage than it moves to the upside, in this case, it is very important to look on the volatility with which the bearish bounce establishes and if the lower boundary holds or not, the next times will show how GOLD will develop here and with which volatility in the range, compared to the other assets like stocks GOLD had established the bearish moves faster playing into the theory that GOLD anticipating the stock-market-movements, nevertheless the bearishness should not be ignored that we do not get overwhelmed when the next leg to the downside sets up. In this manner, thank you for watching, support for more market insight, good day to you and all the best! "Trading effectively is about assessing possibilities, not certainties." Information provided is only educational and should not be used to take action in the markets.
TVC:GOLD
by VincePrince
21
Current Situation, Gold Moving In Channel, Possible Bull-Flag!Hello Traders Investors And Community, welcome to this analysis about Golds price action, the current important formation forming, and the further outcome we can expect the next time. We are looking at the locally 4-hour time-frame and there are some exciting and significant signs which I discovered determining golds ongoing price action. Will be great when you support the idea with a like or/and follow for more market insight! Alright, when looking at my chart we can see that gold is currently consolidating in a side-ways correction after it made the run from 1450 to 1740, this is a normal mechanism in the markets after such a bullish run, traders taking profit and supply enters the market. Also, this sideways correction is forming a channel that you can see marked in my chart in black, this channel currently serves as the ongoing reference-point for gold where the consolidation continues. Furthermore, we can expect the consolidation-period in the channel continues for the next time, what is important in such a structure is that we will get a heavy breakout with a high possibility after such a consolidation, in this case, the bullish breakout is more likely than the bearish breakout. Therefore the channel in which we are moving in at the moment suspected as a possible bull-flag which can break to the upside when it is confirmed properly. What is also playing into the bullish breakout scenario of the possible bull-flag is the local strong support we have in the 1637 to 1642 level which you can see marked in my chart with the orange trend-line. This level is a meaningful level and will serve as the first fundamental respected level for support when we touch it. It is also the logical support-level from the highest we have built in the up-trend before at 1635. This level is also supported by the 400-EMA which we confirmed in the uptrend before, together with the local support it is building a strong and heavy confluence-zone there. Alright, now it is important to be patient and look at how this scenario can play out. I would be cautious in opening a long-position right away. The wisest decision in such a structure is to wait on the proper confirmation of the possible bull-flag after we touched the local support. This will give the setup a higher probability when confirmed. The first targets will be at the blue rising-resistance-line which you see in my chart and even more when we get over this strong resistance-line. Thanks for watching, feel free to support and look in my account for other free analysis, all the best and good weekend ;) "The ambition to transform opportunity into gold remains the most significant tool for a trader." In this manner: FAREWELL Information provided is only educational and should not be used to take action in the markets.
OANDA:XAUUSD
by VincePrince
1
Gold Price Holds Steady Before Important US Employment DataIn continuation from our last week’s analysis on Gold which was spot on, we can see right now that the price of gold (XAU/USD) is moving sideways after a recent rise, which was driven by weaker labor demand due to a less optimistic economic outlook. This precious metal is expected to stay relatively stable as investors wait for the release of the US Nonfarm Payrolls (NFP) data on Friday (tomorrow). On Wednesday, the US ADP Employment report indicated that the job market isn't as strong as previously believed. Companies have slowed down their hiring processes, adding to the signs of an uncertain economic future. The decrease in labor demand has raised hopes that the Federal Reserve (Fed) might ease its approach, especially since Fed Chair Jerome Powell mentioned at the Jackson Hole Symposium that inflation is now more influenced by labor market conditions. Gold has been on a winning streak for the past three days and is predicted to continue recovering as labor demand from US companies weakens due to reduced overall demand. The effects of higher interest rates were evident in the US ADP Employment Change data, which showed a decline in job vacancies. The August ADP report revealed that the private sector in the US added 177K employees, falling short of the expected 195K and just a fraction of July's revised figure of 371K. The slowdown in job growth was particularly notable in the leisure and hospitality sector, where job creation in areas like hotels and restaurants decreased by 30K in August after a period of robust hiring. Wage growth also eased in August. While those staying in their jobs experienced an annual pay growth of 5.9%, those changing jobs saw a slower growth rate of 9.5%. Nela Richardson, the chief economist at ADP, noted that the August numbers reflect a pace of job creation similar to the period before the pandemic. She stated, " After two years of remarkable gains tied to the recovery, we are transitioning to more sustainable growth in both pay and employment as the economic effects of the pandemic diminish. " According to the CME Group FedWatch Tool, it's widely anticipated that interest rates will remain unchanged in September. Additionally, the Fed is expected to maintain rates within the range of 5.25% to 5.50% by the end of the year. Jerome Powell, the Fed Chair, emphasised during his speech at the Jackson Hole Symposium that inflation is now more responsive to the job market. Consequently, a softer labor market could reduce the upward pressure on inflation. Raphael Bostic, President of the Atlanta Fed Bank, suggested that the current policy is sufficiently restrictive to bring inflation to 2% over a reasonable timeframe. After a sharp decline to near 103.00, the US Dollar is experiencing a slight rebound. Nonetheless, many investors are hopeful that the Fed's interest rates have reached their peak, which could lead to further downward movement. The 10-year US Treasury yields have moderately rebounded to 4.12%. While higher mortgage rates are once again putting pressure on US housing demand, it seems that the most challenging phase of the housing sector's correction has passed due to limited supply. According to property analysts surveyed by Reuters, predictions of a price drop in the housing market for this year have disappeared, indicating that the short-lived correction in the US housing market is now concluded. Looking ahead, investors will be paying attention to the weekly Jobless Claims for the week ending on August 25, as well as the core Personal Consumption Expenditure (PCE) Price Index for July. In conclusion, there's a belief that gold is gaining strength and might experience a potential upward breakout collecting liquidity resting above. This could be accompanied by a minor pullback before continuing its upward movement (see chart for more details).
FX_IDC:XAUUSDLong
by financialflagship
THE ART OF RANGE MANAGEMENT - WITH THE TREND OR AGAINST Hey Everyone, Here at GVFX, we are currently buying dips. What that means is that we buy on the dips and therefore only concentrate on long positions/buys with the odd sells for fun. As mentioned before, having both sell and buy positions open in your account will affect your psychology and in turn, your trading decisions. Now a question that typically arises here is why would it still be advisable to buy when the market is pushing down? Firstly, let me assure you that the same algorithms, experience and strategies that we use to achieve a 97% hit rate with our bullish directional bias also gives us the heads up, or down if you will, on when the market is going down. Don't think for a moment that we only know how to analyse a bull market or up trends. We share targets/signals for both buys and sells but choose not to hedge out of choice. Our published results remain consistently profitable month in month out!! In my experience, in the current market conditions, it is much safer to get out of a stuck buy position than a stuck sell position. That's not to mention the clean PSYCHOLOGICAL PROFILE that is achieved when trading in just one direction. And although hedging can in theory work, it requires years of experience and in the end, is simply not worth the effort. I am more than capable of hedging effectively but the fact that I do not should tell you something. Let us look at an example to further answer the question highlighted above. When you have short-term bearish momentum down, we take buys from key supports or MAs which act as dips. Remember that the market does not go up or down in a straight line (with the rare exception of short-lived parabolic moves). So, when the market is going down and hits one of our key levels, a buy from that point will go back up for 20 to 30 or 30 to 40 pips (this number of pips has been calibrated based on back testing) before resuming back down. You can think of it like this. The market moves in a zigzag manner. The zig is that part of the leg which is going down to create lower lows (if the downward trend is continuing). The zag is that part of the leg which takes a breather and pushes back up with momentum for our entry and quick pip-take range to create a lower high (if the downward trend is continuing) before heading back down again. We catch the right and safest waves (buys) in and out and surf to success. When price hits a key structural support or stops creating lower lows and lower highs, we then reassess for entries with a wider range of pip capture. Hope this post helps our followers to understand how we keep our psychology strong!! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
35
Gold long going to above 2050Gold Price Analysis: Testing Support Levels Amidst Consolidation and Breakout Attempts Technical analysis reveals a retracement in gold, testing key support zones and indicating a healthy consolidation phase before an expected continuation of the uptrend. Gold, FX Empire Gold Forecast Video for 19.06.23 by Bruce Powers Gold rises to a three-day high of 1,986 on Friday before pulling back. It attempted to breakout above the top boundary trendline of a small symmetrical triangle consolidation pattern but is now on track to close below it and within the consolidation range. Attempting to Break Up yet Remains in Consolidation Range So far, Thursday’s test of the 100-Day EMA with a day’s low of 1,925 has held up but further signs of strength are needed. Gold briefly dropped below the 100-Day line earlier in the session on Thursday but managed to close strong, back above it and near the high of the day. The 100-Day EMA is now at 1,940. Further Signs of Strength are Needed Further signs of strength are needed to indicate whether yesterday’s low completes the retracement or further tests will occur. This week’s candlestick pattern is set to close as a bullish doji hammer. Next week an upside breakout signal will occur on a move above the high at 1,971, and the breakout is confirmed on a daily close above that high. Following a move above that high the next weekly resistance levels are 1,973, 1,983, and 1,985. A subsequent daily close above each price level will confirm strength, otherwise some resistance might be seen again around those levels. If Lows Tested Again If lower prices occur before a continuation higher the two potential support zones are around the 61.8% Fibonacci retracement at 1,912, followed by the 200-Day EMA at 1,894. The 200-Day EMA was tested as support with a double bottom in the first quarter of this year price reversed higher from there. Uptrend Intact The current retracement in gold is a test of support around previous high swing high of 1,960 from early-February. So far, the retracement is normal and healthy for the uptrend. Consolidation has been occurring at the 50% retracement area as well as the 100-Day EMA. Notice that there is a greater distance between the 100-Day EMA and 200-Day than what was seen in February. It reflects an improving trend. Once this retracement is complete, all signs are that gold should continue higher. Gold held above $1,950 an ounce on Friday after gaining 0.7% in the previous session, benefiting mainly from the dollar’s weakness as the Federal Reserve paused its tightening campaign at a time other major central banks are still raising interest rates. Still, the metal remains close to three-month lows as the Fed hinted at two more quarter-point rate increases this year, while the European Central Bank delivered another 25 basis point rate hike on Thursday and signaled further tightening. The Bank of England is also set to raise rates again at its June policy meeting, a month marked by surprise rate increases from the Reserve Bank of Australia and the Bank of Canada. Meanwhile, the People’s Bank of China lowered key short-term interest rates this week for the first time in ten months, while the Bank of Japan maintained its ultra-easy monetary policy on Friday. Daily bullish 4H Bullish 34min Bullish Gold is mostly traded on the OTC London market, the US futures market (COMEX) and the Shanghai Gold Exchange (SGE). The standard future contract is 100 troy ounces. Gold is an attractive investment during periods of political and economic uncertainty. Half of the gold consumption in the world is in jewelry, 40% in investments, and 10% in industry. The biggest producers of gold are China, Australia, United States, South Africa, Russia, Peru and Indonesia. The biggest consumers of gold jewelry are India, China, United States, Turkey, Saudi Arabia, Russia and UAE. The gold prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our gold prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
CAPITALCOM:GOLDLong
by DaveBrascoFX
weekend trade report A reasonable week turned this week. A return of 3% overall with the automatic trading reaching 6% and the manual trades -3%. This week was a strange week in which the ECB, the BOE and more central banks raised interest rates to ensure that consumers borrow and spend less so that the economy can cool down. On the other side of the big puddle, the FED did a pass on the spot, sending a double signal. Interest rates do not have to go up now, but it will happen again in the coming months. This created indecision on the financial markets. The FED's interest rate pause was immediately overtaken on Friday by disappointing PMI figures. These figures also indicated that the economy is already cooling. In the coming week it will all be a bit quieter in terms of news: Tue Jun 27 14:30 CAD CPI m/m CAD Median CPI y/y CAD Trimmed CPI y/y 16:00 USD CB Consumer Confidence Wed Jun 28 3:30 AUD CPI y/y 15:30 GBP BOE Gov Bailey Speaks JPY BOJ Gov Ueda Speaks USD Fed Chair Powell Speaks Thu Jun 29 All Day EUR German Prelim CPI m/m 14:30 USD Final GDP q/q USD Unemployment Claims Fri Jun 30 14:30 CAD GDP m/m USD Core PCE Price Index m/m When we look at the charts of the different pairs, we see that the EURUSD has lost its chance of a new trend upwards. The rest of the Euro pairs are still in the race for the way up. We all have to watch out for the CAD. The USDJPY seems to have found its way up. The Assie no longer has a trend. It is back in the channel between 0.66 and 0.67. Despite the hopeful rise of the CADJPY, it seems to us to be too high. On a weekly basis, Gold is in a down trend but we put in a Buy last Friday because the economic data turned out in favor of Gold.
by Probeleg