Get started

Gold

XAUUSD Monthly Outlook – May 2025👋 Hey GoldMindsFX! 🕰️ Timeframe: Monthly 📍 Current Price: 3,204 📈 Bias: Cautious Bullish-to-Neutral 📏 Trend: Strong long-term bullish, but in monthly exhaustion/cool-off mode 🔍 STRUCTURAL OVERVIEW BOS (Break of Structure): Confirmed above 2,075 (2020/2022 key resistance). Rally: Sustained higher highs and strong bullish candles since October 2023. Current Candle: Huge wick into FIB extension (1.618–2.0) = 3,440–3,500 (top-out risk). 🧠 KEY MONTHLY LEVELS TO WATCH Type/Zone Price Range Quick Note 🔴 Premium Supply 3,440–3,500 FIB extension (1.618–2.0), big rejection wick, bull exhaustion 🟠 Resistance 3,222–3,242 Prior OB + last BOS area, possible retest zone ⚠️ Mid-Zone 3,160–3,185 Equilibrium, liquidity trap, key short-term support 🟢 Demand 3,050–2,960 Big monthly OB + FVG, unmitigated base, strong support 🔵 Discount 2,950–2,800 Previous reaccumulation, structure demand from 2023 rallies 🗺️ MACRO & MARKET CONTEXT Geopolitical Tension: Wars, inflation, and Fed confusion (CPI/UoM). Market Mood: Sentiment weak, uncertainty high after May FOMC & Powell. Central Bank Flow: Dips bought, but profit-taking near highs — “wait and react” mode. 🧭 SCENARIOS FOR MAY Bullish Plan: If price holds above 3,160–3,185 ➔ look for re-entry toward 3,240 and possible retest of upper wicks (3,440+). Needs H4 CHoCH + volume for confirmation. Bearish Plan: Lose 3,160 ➔ look for a drop toward 3,050–2,960. If that fails, watch for deeper retrace to 2,800–2,950. ⚙️ FIBONACCI EXTENSION SUMMARY 1.272: ✅ Hit 1.618: 3,440 (Tapped) 2.0: 3,500 (Wick/Exhaustion) 🧠 FINAL WORD Gold’s monthly “moonshot” stalled at 3,500 — don’t chase, just watch how price reacts to the 3,160–3,185 key range. Lose it? Expect deeper cool-off. Hold it? Reload for one more push toward the highs. Stay focused, trade smart, and let structure guide your next moves! Drop a comment if you want the weekly/daily breakdowns. — GoldFxMinds (GoldMindsFX)
OANDA:XAUUSD
by GoldFxMinds
GOLD MARKET ANALYSIS AND COMMENTARY - [May 26 - May 30]This week, the price of OANDA:XAUUSD increased from 3,204 USD/oz to 3,365 USD/oz, and closed the week at 3,357 USD/oz. The reason for the increase in gold price this week is due to: 🔹Moody's downgrades US credit rating, causing USD to fall. 🔹Unsuccessful US bond auction raises concerns about economic instability. 🔹President Trump threatens to raise tariffs on European goods, raising concerns about trade war. 🔹Escalating tensions in Ukraine, Middle East, increasing demand for safe haven gold. Gold prices next week may fluctuate in both directions, meaning they will adjust and accumulate to wait for the results of US-China trade negotiations, US economic data, and whether Mr. Trump will decide to impose tariffs on Europe or not? Next week, the US will release many important economic data, including: ➡️Durable Goods Orders (Tuesday), ➡️Minutes of the FED's May Policy Meeting (Wednesday), ➡️PCE Inflation Index (Friday). With the Trump administration's tariff policy, inflationary pressures in the US have been under a lot of pressure. If the core PCE index in April increases more than expected, it may cause the FED to continue to keep interest rates unchanged at its July meeting. In this scenario, the USD may increase again, causing gold prices to be under pressure to adjust next week. However, gold prices next week will hardly decrease sharply if the PCE increases, because gold prices next week are still supported by other factors such as tariffs, geopolitical conflicts, etc. 📌Technically, on the H4 chart, gold prices are starting to break the Downtrend line and tend to move closer to the resistance level of 3432. Meanwhile, support is established around the dynamic resistance level of 3300. The gold price trend next week is likely to lean towards a slight increase scenario provided that the USD does not recover strongly and geopolitical tensions continue. However, investors need to be cautious with corrections due to profit-taking or sudden changes due to macroeconomic information. Gold prices next week may fluctuate in the range of 3300-3450. Notable technical levels are listed below. Support: 3,300 – 3,292 – 3,250USD Resistance: 3,371 – 3,400 – 3,435USD SELL XAUUSD PRICE 3451 - 3449⚡️ ↠↠ Stop Loss 3455 BUY XAUUSD PRICE 3299 - 3301⚡️ ↠↠ Stop Loss 3295
OANDA:XAUUSDLong
by Xayah_trading
Gold Surges – Is 3,500 USD the Next Target?OANDA:XAUUSD has shown strong bullish momentum, breaking above the upper boundary of the descending channel. This boundary previously acted as dynamic resistance but has now been broken and could potentially become a new support zone if confirmed. Price action at this level suggests a structure consistent with a bullish flag pattern, indicating the potential for a continuation of the uptrend if buyers engage. If buyers confirm support at this level, the price may have the potential to rise toward the 3,500 USD level, which serves as a reasonable target for this setup. And if price breaks beyond this area, there are few clear obstacles above, opening up room for a broader rally within the medium-term trend. Traders should monitor for bullish confirmation signals, such as bullish engulfing candles, strong rejection wicks from the support zone, or rising buying volume, before considering long positions. If you agree with this analysis or have additional insights, feel free to share your thoughts below!
OANDA:XAUUSDLong
by LucasMgoldview
5
GOLD 1H CHART ROUTE MAP UPDATE & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between two weighted levels with a gap above at 3389 and a gap below at 3352. We will need to see ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 20 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. The swing range give bigger bounces then our weighted levels that's the difference between weighted levels and swing ranges. BULLISH TARGET 3389 EMA5 CROSS AND LOCK ABOVE 3389 WILL OPEN THE FOLLOWING BULLISH TARGETS 3428 EMA5 CROSS AND LOCK ABOVE 3428 WILL OPEN THE FOLLOWING BULLISH TARGET 3478 EMA5 CROSS AND LOCK ABOVE 3478 WILL OPEN THE FOLLOWING BULLISH TARGET 3517 BEARISH TARGETS 3352 EMA5 CROSS AND LOCK BELOW 3352 WILL OPEN THE FOLLOWING BEARISH TARGET 3317 EMA5 CROSS AND LOCK BELOW 3317 WILL OPEN THE FOLLOWING BEARISH TARGET 3282 EMA5 CROSS AND LOCK BELOW 3282 WILL OPEN THE FOLLOWING BEARISH TARGET 3233 EMA5 CROSS AND LOCK BELOW 3233 WILL OPEN THE SWING RANGE 3185 3146 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
10
GOLD 4H CHART ROUTE MAP UPDATE & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price play between two weighted levels with a gap above at 3378 and a gap below at 3312. We will need to see ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 20 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. The swing range give bigger bounces then our weighted levels that's the difference between weighted levels and swing ranges. BULLISH TARGET 3378 EMA5 CROSS AND LOCK ABOVE 3378 WILL OPEN THE FOLLOWING BULLISH TARGETS 3438 EMA5 CROSS AND LOCK ABOVE 3438 WILL OPEN THE FOLLOWING BULLISH TARGET 3496 EMA5 CROSS AND LOCK ABOVE 3496 WILL OPEN THE FOLLOWING BULLISH TARGET 3555 BEARISH TARGETS 3312 EMA5 CROSS AND LOCK BELOW 3312 WILL OPEN THE FOLLOWING BEARISH TARGET 3249 EMA5 CROSS AND LOCK BELOW 3249 WILL OPEN THE SWING RANGE 3198 3119 EMA5 CROSS AND LOCK BELOW 3249 WILL OPEN THE SECONDARY SWING RANGE 3046 2988 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
6
XAU/USD) Bullish reversal analysis Read The ChaptianSMC trading point update Tchnical analysis for XAU/USD (Gold vs US Dollar) on the 4-hour timeframe, using Smart Money Concepts (SMC). Here's a breakdown of the idea behind this analysis: --- 1. Trend & Structure The previous downtrend was broken with a change of character (ChoCH), suggesting a possible bullish reversal. After the ChoCH, the market formed bullish order blocks which have been respected, confirming the bullish sentiment. --- 2. Key Levels Support level: Around 3,220–3,240 region, coinciding with the 200 EMA, which has acted as dynamic support. Order blocks: Several yellow zones indicate areas of institutional buying interest. The most recent "new order block" is closer to the current price, showing a potential short-term demand zone. --- 3. Price Projection The chart suggests a bullish continuation, projecting a move towards: Target Point 1: Around 3,350–3,349.50 Target Point 2: Around 3,408–3,407.98 These levels are likely based on prior highs or imbalance zones. --- 4. RSI Indicator RSI is above 65, showing bullish momentum, but nearing overbought territory (>70), which could signal a short-term pullback before continuation. --- 5. Trade Idea (Visualized Path) A potential small pullback into the "new order block" around 3,280 is expected. From there, price may rally to the next supply zones or previous highs, offering a potential gain of ~1.44%. Mr SMC Trading point --- Summary of the Idea This is a bullish continuation setup based on: Trend reversal via ChoCH. Strong order block formations. EMA 200 support. RSI confirmation. Traders might look to enter near the new order block (around 3,280), targeting 3,350 and then 3,408, while managing risk below the order block support. Pleas support boost 🚀 analysis follow K
FX:XAUUSDLong
by SMC-Trading-Point
28
GOLD WEEKLY CHART MID/LONG TERM ROUTE MAPHey Everyone, Here’s our latest weekly chart update. Once again, the Goldturn Channel continues to prove its reliability, with price action unfolding just as anticipated. Last week, we noted multiple failed attempts to break above the channel top, each confirmed by the EMA5 being unable to close through resistance. This led to a pullback as low as 3189, nearly touching the 3094 level right near the channel's half line, a key support zone we've been closely monitoring. We caught an early bounce off that half line, supported by confluence on our 1H and 4H setups, and that momentum has carried through into this week. This week, we saw that bounce continue firmly off the half line, pushing price back up toward the channel top. Price has now closed above both the 3281 axis and the channel top, confirming a strong breakout and leaving an open gap toward 3387. This move not only validates our strategy but also reinforces the strength of the Goldturn system in capturing high probability swings. As long as price remains above the channel half-line and especially now above 3281, we will continue looking for dip buying opportunities on retracements, using our intraday levels for targeted 20–40 pip moves. If the price pulls back below these key levels, we’ll reassess for potential downside toward the lower boundary of the channel. This is exactly why we stick with our Goldturn Channel methodology our proprietary system based on weighted averages. It cuts through the market noise, distinguishes real breakouts from fake outs, and empowers us to trade with confidence and clarity. Thanks again for your continued support, your likes, comments, and follows mean a lot. MR GOLD GOLDVIEWFX
OANDA:XAUUSD
by Goldviewfx
2
Xau SellsShort term Gold / Xau Sell * A bearish wedge/pennant pattern. * BOS (Break of Structure) noted. * Price approaching a strong resistance zone (\~\$3,438). * Two key take-profit zones marked: * TP1: \~\$3,167 * TP2: \~\$2,839 The blue projection suggests a short (sell) bias from the resistance zone Direction: SELL Yes, based on the wedge, Fibonacci zones, and price action, the bias is bearish. Price is tapping into a strong supply/resistance area, so a sell setup makes sense, especially after the BOS and premium price. Entry Zone (Sell Area): * Sell Entry Range: \$3,370 - \$3,438 * Around the 0.71 - 0.79 Fibonacci retracement and under the supply zone. * Ideal area is between \$3,372 to \$3,438 (your marked red zone). Stop Loss (SL): * SL above supply zone high: \$3,510 - \$3,520 * Above strong high; gives room in case of liquidity sweep. Re-entries: * If price pulls back after TP1: * Re-entry zone**: **\$3,250 - \$3,280 * Around 0.382 Fib level + structure retest. Take Profit (TP) Zones: * TP1: \$3,167 - \$3,120 * Strong support, aligns with your "Weak Low" + confluence with structure. Risk\:Reward \~1:3 TP2: \$2,839 - \$2,835 * Deep support + Fibonacci extension zone (1:8 RR). * High reward but only if bearish momentum continues strongly. Final Notes & Corrections: * Your TP zones are logically placed. * Entry zone is strong and aligns with resistance + Fib. * Consider watching for: * Bearish engulfing or reversal candlestick patterns in entry zone. * Confirmation with momentum indicators (e.g., RSI divergence).
EIGHTCAP:XAUUSDShort
by Sthesh_Don_Billiato
Automate Gold Trading with Machine Learning and LLMS: FULL Guide🚀 Harnessing Machine Learning and Large Language Models (LLMs) to Automate Gold Trading: A Practical Guide Gold 🥇 has long been considered a safe-haven asset and a cornerstone of investment portfolios worldwide. The advent of advanced technologies like machine learning (ML) 🤖 and large language models (LLMs) 🧠 has opened new avenues for automating gold trading, enhancing accuracy, and improving profitability. 🌟 Why Automate Gold Trading with ML and LLMs? Machine learning algorithms excel at detecting complex patterns, analyzing vast amounts of market data swiftly, and predicting price movements more reliably than traditional methods. LLMs, such as GPT-4, further augment trading strategies by interpreting news sentiment, macroeconomic data, and global geopolitical events in real-time, offering nuanced insights into gold market movements. 🛠️ Step-by-Step Practical Implementation 1. 📊 Data Acquisition and Preparation: Historical gold price data (open, close, high, low). Economic indicators: inflation rates 📈, currency valuations (USD strength 💵), and interest rates 📉. News sentiment analysis 📰 derived from financial headlines using GPT-4. Example Application: Use APIs like Alpha Vantage or Yahoo Finance to pull historical gold prices. Integrate financial news from Bloomberg or Reuters and summarize sentiments using GPT-4 API. 2. 🎯 Choosing the Right ML Model: Time Series Forecasting Models: LSTM ⏳ (Long Short-Term Memory), GRU 🔄 (Gated Recurrent Units). Classification Models: Random Forest 🌳, Gradient Boosting Machines (GBM), and XGBoost 🚀 for predicting upward/downward price movements. Example Application: Use Python libraries such as TensorFlow, Keras, and XGBoost to build and train these models. Predict price changes for the next trading session to make informed entry and exit decisions. 3. 🤖 Integrating Large Language Models (LLMs): Employ GPT-4 or similar LLMs to perform real-time sentiment analysis on financial news. Translate sentiment results into numerical signals (e.g., +1 positive, 0 neutral, -1 negative). Example Application: Daily analyze major news headlines related to gold using GPT-4 to capture market sentiment. Incorporate these signals into your ML model to refine price movement predictions. 4. 📈 Training and Validation: Train models on historical datasets using cross-validation to prevent overfitting. Optimize parameters using genetic algorithms 🧬 or grid search techniques. Example Application: Use scikit-learn’s GridSearchCV or genetic algorithms in libraries like DEAP for parameter tuning. 5. ⚙️ Automating Trades with Expert Advisors (EA) on MetaTrader 5: Integrate ML and LLM-derived signals into MetaTrader 5 Expert Advisors. Implement position-sizing logic, risk management, and automatic lot scaling. Example Application: Write custom MQL5 scripts that execute trades based on ML model predictions and sentiment analysis outputs. Dynamically adjust position size based on account equity and market volatility. 🛡️ Practical Considerations for Robustness Risk Management: Always integrate dynamic stop-losses 🛑, trailing stops, and overall account-level risk management. Flat Market Detection: Employ advanced techniques like Hurst Exponent, ADX/DMI compression, or Bollinger Band squeezes 🔍. Continuous Optimization: Regularly retrain models and update sentiment analysis parameters. 🌐 Benefits of Combining ML and LLMs Enhanced predictive accuracy 📈 through combined numerical and textual data analysis. Improved adaptability 🔄 in dynamic market conditions. Reduced emotional bias 😌 and human errors in trading. ⚠️ Challenges and Solutions Data Quality and Overfitting: Rigorous preprocessing and cross-validation. Market Regime Shifts: Continuous monitoring and periodic recalibration of models. 📌 Real-World Application Examples Example 1: Combine sentiment analysis with price data to predict significant market movements around economic announcements (e.g., Fed rate decisions). Example 2: Deploy an ML-driven EA on MetaTrader 5, adjusting positions based on both predictive analytics and real-time news sentiment shifts, significantly improving trade timing and results. Example 3: Use an adaptive ML model that retrains weekly with the latest market data, ensuring the trading algorithm remains relevant to current market conditions. 🎉 Conclusion Automating gold trading using machine learning and LLMs presents an exciting frontier for traders. By leveraging these technologies, traders can significantly enhance decision-making, effectively manage risk, and achieve consistent profitability. The future of gold trading automation lies in blending cutting-edge algorithms with insightful real-time analysis, making now the perfect time to integrate ML and LLMs into your trading toolkit. 🥇🤖💹
FX:XAUUSDEducation
by ProjectSyndicate
25
GOLD (XAUUSD): More Growth Ahead?! Gold violated a significant intraday horizontal resistance on Friday. The broken structure and a rising trend line compose a strong contracting demand area now. It will be a perfect spot to try to buy Gold after a pullback. Next goal for the buyers will be 3400. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDLong
by VasilyTrader
2
XAU/USD Trading Plan - LAST WEEK OF May 25, 2025 Current Market Status * price $3358 💡 LIKE AND FOLLOW FOR MORE 💡 📊 Key Events This Week: May 28: FOMC Meeting May 29: Unemployment Data May 30: Core PCE Index 📈Long Position Setup (Buy Zone) Entry: $3,350-$3,355 Targets: ------ $3,420 (2.1% gain) ------ $3,480 (3.9% gain) ------ $3,550 (5.7% gain) Stop Loss: $3,300 (1.5% risk) ___ Rationale: - Support at weekly zone ($3,330) - Potential Fed dovish pivot - Monthly light buyer interest - Safe-haven demand potential 📉 Short Position Setup (Sell Zone) Entry: $3,380-$3,390 Targets: ----- $3,330 (1.5% gain) ----- $3,280 (3.0% gain) ----- $3,220 (4.7% gain) Stop Loss: $3,420 (1.2% risk) ___Rationale: Resistance at weekly high ($3,586) Potential strong USD if Fed remains hawkish Overbought conditions possible Profit-taking at key levels ⚠️ Critical Risk Factors FOMC interest rate decision US economic data surprises Geopolitial developments Physical gold demand changes 🔍 Key Technical Levels Support: $3,330 (weekly), $3,280 (monthly) Resistance: $3,420 (main zone), $3,550 (ATH) Pivot Point: $3,360
FX:XAUUSD
by ONE1iMPACT
Stock Markets, Gold, Silver: Run With The Bulls!In this Weekly Market Forecast, we will analyze the S&P 500, NASDAQ, DOW JONES, Gold and Silver futures, for the week of May 25 - 31st. The Stock Markets are bullish, so run with valid buy setups when they form. Gold and Silver are relatively strong. With tensions in Gaza and Iran, this is expected. Valid buys should be taken. Crude Oil is a tad bearish due to US inventories, so valid sells are warranted in the short term. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
CME_MINI:MES1!
by RT_Money
1
Gold may break resistance level and then continue to growHello traders, I want share with you my opinion about Gold. In this chart, price previously formed a clear triangle pattern, where price was squeezed between two converging trend lines. After a period of consolidation, the market broke above this formation, reaching the resistance zone near 3365, but then started to retrace. Following that breakout, a new structure emerged, an upward wedge. The asset has been moving within this narrowing channel, forming higher lows and approaching the upper boundary with weakening momentum. This type of pattern often signals an upcoming strong move once the price breaks out from either side. Currently, Gold is trading near the resistance line of the wedge and just beneath the seller zone. I expect that the price may fall back to the support line of the wedge around the 3205 - 3185 area. After that, a bounce from this zone could trigger a bullish breakout from the wedge. That’s why I set my TP 1 at the 3420 level, this target aligns with a full wedge breakout and continuation of the upward movement through the resistance level and beyond the seller zone. Please share this idea with your friends and click Boost 🚀 Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
THINKMARKETS:XAUUSDLong
by LegionQ8
17
Gold Weekly AnalysisThe FOMC meeting could make cold rise up dramatically. The indicated levels are determined based on the most reaction points and the assumption of approximately equal distance between the zones. Some of these points can also be confirmed by the mathematical intervals of Murray. You can enter with/without confirmation. IF you want to take confirmation you can use LTF analysis, Spike move confirmation, Trend Strength confrimation and ETC. SL could be placed below the zone or regarding the LTF swings. TP is the next zone or the nearest moving S&R, which are median and borders of the drawn channels. ******************************************************************* Role of different zones: GREEN: Just long trades allowed on them. RED: Just Short trades allowed on them. BLUE: both long and short trades allowed on them. WHITE: No trades allowed on them! just use them as TP points
FX:XAUUSDLong
by AliSignals
Gold: Weekly overviewHello Traders, Political condition could cause unstable movements in the market. The indicated levels are determined based on the most reaction points and the assumption of approximately equal distance between the zones. These points can also be confirmed by the mathematical intervals of Murray. After reacting to the following zones, you can enter the trade. Place the stop loss slightly above/below the zone to which the reaction was shown. The profit point is the next zone. The drawn channels and their medians can also be considered as moving support and resistance. I usually use them as target points. * A break is confirmed, only if price does not have any moving S&R on it's way. This analysis is valid until the end of the week.
FX:XAUUSD
by AliSignals
1
XAUUSD: Downtrend Channel - Potential Short OpportunityXAUUSD is currently trading within a well-defined descending channel on the 2-hour timeframe. Price action has been respecting the upper and lower trendlines, suggesting a continuation of the downtrend. Given the overall downtrend, I'm seeing a potential short opportunity. Entry: Look for a SELL signal near the upper trendline of the channel or within one of the resistance zones. Stop Loss: Place a stop-loss order above the most recent swing high or above the resistance zone to limit potential losses, around $3,390.00. Take Profit: Target a Take Profit (TP1) near the lower trendline of the channel. A potential TP level is around $3,250.00 Target a Take Profit (TP2) near the lower trendline of the channel. A potential TP level is around $3,150.00 (adjust based on your risk tolerance and analysis). Confirmation: Before entering the trade, seek confirmation from other indicators or chart patterns (e.g., bearish candlestick patterns), or wait for a sell signal from our indicator. Consider the overall market sentiment and any upcoming news events that could affect the price of gold. Risk Management: This is just an idea, not a trading recommendation. Trading involves risk, and you could lose money. Always use proper risk management techniques, including stop-loss orders and appropriate position sizing. Disclaimer: I am not a financial advisor. This is just my personal analysis, and you should do your own research before making any trading decisions.
OANDA:XAUUSDShort
by OctoAlgo_indicator