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Gold, today's trading strategy technical explanationGold, yesterday, although a small negative, but still not to the agency bearish target level, the Asian market, the European market bottoming out, broke yesterday's low after touching the short target. From the rhythm of the daily, out of the negative or worried about a series of negative, after all, the last time out of the negative, down 4 trading days before bottoming out, this time the cross turned negative, but also more worried about there is a continuation of the decline. If we break down the pattern to the hourly inside, it is not difficult to find, with less yin and yang, the signs of weakness. Therefore, today, the long side still need to be extra careful. On the one hand, the Asian market continued to fall below the bottom, although only a puncture, the price did not fall continuously, but the watershed can be established, 1954 Asian market opening down mouth, if it is a continuation of the fall, then do not look at the reversal of the break. In addition, the European market is very critical, yesterday's hourly second test high, but the European market even negative, which has the courage to continue to hold the empty single, if it is the European market break of 1954, then it is bound to shake in the evening, or even difficult to fall. And the real weakness, the European market is very critical, but also the European market down is weak. Third, the continuity of the market is not enough, yesterday's European market even down, the U.S. market if the decline in the process of two rebound when you can choose to sell, there is not much opportunity. Therefore, the first time today is still very important. From the point of view of h1 hourly line, aggressive suggestions 1953-55 position sell, sl58. Focus on the European market, two points: 1, the watershed 1954, if the European breakthrough, then the U.S. market before the retracement of the sell order to close. 2, and yesterday, the same, suppression retreat, the U.S. market continue to look weak suppression, the target level can focus on the 1940-1 position. Of course, conservative can only wait and see, look at the European performance after the U.S. market arrangements, if the European market up, the U.S. market to watch the show, the shock market, the European market is the focus, the daily closing is also very important.
FOREXCOM:XAUUSDShort
by MRKKYI
Gold, shocks are not continuousRegarding gold, on Friday, it formed a doji candlestick at the bottom. On one hand, it followed the cyclic "Black Friday" pattern (typically, market sentiment is low on Fridays, and institutions use minimal chips to influence market trends), leading to a decline. On the other hand, it also moved within a small range, allowing for profits on both selling and buying positions. Last week's overall market trend can be described as chip cleansing. After breaking the bottom, the price quickly rebounded, but it failed to break above the resistance level at 1970. The rhythm of the D-line, which was previously in an upward trend, has recently shown some weakness. This is due to excessive tests of the support level and the formation of consecutive bearish candlesticks on the D-line. The resistance level at 1970 has been tested multiple times, as well as the support level at 1940. Although there were breakouts, the closing prices did not fall below those levels. In last week's market, I emphasized an important point: range breakouts. A breakout within a range does not necessarily indicate the beginning of a bearish trend when it breaks below the 1970-1930 range. It could actually lead to a rebound and an upward movement. Similarly, a breakout above 1970 does not necessarily indicate the start of an upward trend; it could be a deceptive move. Therefore, it is not reasonable to determine the direction solely based on range breakouts at the moment. From a weekly chart perspective, this correction near the previous starting point still shows a doji candlestick pattern, suggesting support for an upward movement rather than indicating weakness. A weak pattern would involve a large bearish candle or a close below the bottom, rather than a doji candlestick. However, on the daily chart, the range oscillation continues, but we shouldn't consider it as a continuous trend. Let's take Friday's trend as an example. Although there was an initial rise followed by a decline, the intraday hourly chart consistently showed bullish candles, especially during the pre-US session. If we consider the trend as continuous, it would indicate an upward movement during the US session. However, due to the lack of continuity, the trend ended up being an initial rise followed by a decline. An upward movement can only be profitable within the intraday layout, while a second short position after the suppression in the US market can also be profitable. It becomes challenging to interpret the trend if we assume continuity. As for today, the closing price is near the low point of the previous day's correction, suggesting a sideways movement based on the current price. There is a higher probability of a breakout in the European session. This is related to the lack of continuity within the intraday trend. If we expect an upward movement, there should at least be an intraday retracement, which would increase the likelihood of testing the low during the US session. Therefore, specific trading positions will not be provided for the European market today. There are no appropriate patterns for analysis in terms of buying or selling. It's best to analyze the pattern in the European market and make positioning decisions based on the US market.
OANDA:XAUUSDLong
by MRKKYI
Gold, today focus on 1975 positionRecently, the fluctuation in the price of gold has not been too significant. The previous decline was primarily influenced by expectations of a US debt default. The price of gold has been sliding from its peak of $2080 per ounce to $1930 per ounce, a decrease of $150. In the face of a very "difficult" choice and negotiations, the United States has chosen to raise the debt ceiling. To avoid disappointing the "creditors," they have decided to print more money. Central banks holding US bonds are not happy about this. While money is being spent, inflation is "burning" and becoming more intense. The US had expected the CPI to drop to 2%, but the seasonally adjusted core CPI for the end of May, announced last Tuesday, was 5.3% on an annual basis. There is still some distance from the target, and high inflation will likely force the federal government to maintain high interest rates. Tightening monetary policy by increasing interest rates may cause the US economy to suffer, especially the three major stock indices, resulting in a decline in the market capitalization of overvalued companies. On the other hand, lowering interest rates would undoubtedly be like adding fuel to the fire of inflation. Federal Reserve officials are engaged in a game of finding a way out. It is not a choice between two extremes but a balancing act of weighing the pros and cons before making a decision. Finally, the midterm elections in the United States will also affect the speed of economic recession. It involves a competition of interests between the Democratic and Republican parties. Economic recession is an inevitable trend, but the future will only get better. Any economic recession should not be excessively pessimistic. It is unquestionable that the world will develop towards a better direction. This is a belief held by Warren Buffett, who advises against using economic cycles to judge the future and instead suggests maintaining an optimistic attitude. As for gold, this is a logical interpretation of the overall direction. The importance of the 1985 level has been mentioned last week. If it is broken, it signifies the end of the short-term downtrend in gold. If there is no breakthrough above 1985, the upward movement can be seen as a rebound. Therefore, short positions can be entered after a pullback, with a defensive stop-loss set above 1985. The ideal position is above 1970, as setting the stop-loss too low would not be favorable, and there is no need to chase after roller coaster market trends. This is a biased trade towards the left side. Gold focus: 1980-1975 resistance area. 1950-45 support area.
OANDA:XAUUSD
by MRKKYI
Gold, 1955 today's watershedGold, yesterday's U.S. secondary decline to the bottom and then rose, the daily line in the positive, but after the reversal of the price of high horizontal, lost the momentum of the retreat, seems to have turned into a secondary back to rise, then today is the key. On the one hand, Friday's big drop without a reversal, this pattern regardless of whether it is a rebound or a crossover, are looking to renew the fall once, the rebound is also looking at the shock. But yesterday's market in the day slow fall, the U.S. market rose, if the day did not catch the very weak, the U.S. market in the sale, there is no room for profit, but just said, no matter what, the policy can still be implemented. And the biggest worry is still yesterday's rally fulfilled the bottom of the second test rise, if this is really the case, the missed opportunity in the medium term, but whether it can be the second rise, today is the key, focusing on whether to take strong sun in a row. Once the continuous strong sun, the Friday decline to swallow up, then naturally turn strong. So, today also relates to the trend delineation. If today's retreat turns negative, then the probability of breaking the bottom later is still relatively large, but today in the strong positive rise, Friday's fall must be a washout, the second rise to come. And for the current price, the participation is still not high. On the one hand, there was no retracement after yesterday's bottoming out in the U.S., it has been a crossover, but this crossover is a small positive closing, and not a retracement closing, then the probability of a retracement in the morning is high, but because of the resistance, the profit from selling may not be as large. But you can take one sell to trade. Friday's hourly renewal level in 1967-8 a line, which is today's key resistance, worry about the market is also just a punch, a false alarm. And for the retracement to do BUY, be sure to pay attention to the European market, which has two points: 1, a strong close, this form of morning correction, the market continues, must take the highs in the European market, or look forward to the U.S. market up is difficult. 2, the retracement of the position is not easy too deep, if the retracement of the magnitude is too large, then it is a shock, and the focus is still to see whether the European market can power. Therefore, the operation, after yesterday's upward push back to the low in 1955-6 line, the time point of the European market. The day concern 1955-54 support position. 1965 resistance position. Focus on the European session. If the European market does not power up, has been suppressed in yesterday's high below, then the U.S. market transfer down the probability of great, the need to sell behind. Therefore, the intra-day retracement can be taken BUY. Note: If the intra-day suppression in the consideration of sell. And the U.S. time to keep continue to suppress, then it is necessary to sell once in the U.S. time.
FOREXCOM:XAUUSD
by MRKKYI
Gold, the reason and position to sell todayOn the gold side, Friday's trading was still difficult. In Friday gold always position 1975-1980 near position for range oscillation, which makes it difficult for market investors to make a judgment. And of course that includes me. Although we looked in the right direction on the day of the non-farm payrolls and traded correctly, but did not stick to hold. This made the profit not to be maximized. The reason here are two aspects, I focus on these two aspects: 1, from the non-farm payroll data news to analyze. The forecast is 19. But it has not been below 19 since 2021-2022. The economy has not been below 19 in the previous years when it was so difficult, so the NF is not good for gold. So we are selling at 1980 before the NFP news market comes out. And then at 1969buy. 2, after the data came out that day, the market h1 hour fell down to 1968.5. just down near the 1969 position. And then rose to near the 1976 position. Here is a bit awkward. If the market is down to 1967, then the rebound will not be so big, but because it just fell to 1969 position near. Plus the 30-minute closing positive line. So this position to see the continued rise of more people. This time the best way to solve the problem of profitability is through trading skills. That's why we put a buy order for the 1969 position at the 1975 position for take profit. The data became a trigger. Although we followed the third trade with a sell trade. And our tp was also 1955-40. But since the h1 hour closed positive, we would have had to close the trade in terms of trading skills, which is why we looked in the right direction and made the right trade, but failed to maximize profits. And now this sharp retracement, to a large extent, will see two kinds of moves: 1, the weekly cross, there is a continuation of the momentum, this continuation of the fall, must be looking at the location of the broken bottom 1932. 2, if treated as a rising secondary retracement of the washout, the retracement is to the low to do the key position, to layout the sell order. Therefore, this week's contradiction lies in the end is to break the bottom to look long, or not break the bottom position to look long. The focus is on the first two trading days of the week. In terms of the theory of weakness, the big negative engulfing the decline, no matter what, today's is to sell. Either look at the very weak decline, continue to look at the previous low of 1932, if today reached, it is bound to break the bottom, after BUY, it is necessary to plan from the new. If today's rebound shock, the daily closing sun, the low is still valid, and this rebound is just a shock, the above sell or unchanged. Therefore, regardless of today's rebound or break the bottom, you have to sell. The point of time is still the European market. The European market is the key to decide everything, very weak European market broke the bottom down, if the oscillation, the European market hourly rebound even positive, the U.S. market to see the high fall, the daily closing oscillation pattern. And for the moment, Friday's continuous plunge close, the morning flat open retracement of the broken bottom, took the continuation of the fall pattern, the morning selling position is not available. The previous day down, the rebound to sell the location of three: the early morning reversal of the high point, the golden mean 382 position and the top of the hourly large negative line, which is more reasonable position in the renewal of the fall level 1954, but also the previous low support conversion. Therefore, focus on the resistance position of 1954-55. Note that the morning is a broken bottom, if the price rebound to this point, then it must be a shock. And it is the European market rise, the U.S. market to see the high fall. Today's current operation makes little sense, if the European market directly break the bottom, or wait for the U.S. market to rebound and sell. Therefore, the focus and timing of the operation is the U.S. market, do not participate too much in the day.
FOREXCOM:XAUUSD
by MRKKYI
Gold, specific ways to trade next week The range between 1900 and 1930 in gold is a strong support level. (I am not suggesting going short or giving any specific advice regarding long or short positions). In normal circumstances, the closer the price is to a support level, the stronger it tends to be. However, unexpected events can disrupt this pattern. Keep an eye on the level around 1945 for the upcoming week. The closing price for this week is in the vicinity of 1945, which is both a weekly support and resistance level. Therefore, the price action on the first day of the following week will likely determine the overall trend for that week. When the price approaches a resistance level, it is not advisable to chase upward movements. It is better to adopt a wait-and-see approach. Similarly, when the price nears a support level, it is not suitable to aggressively sell. It is better to observe the market. If the price falls to a support level or rises to a resistance level, it is necessary to analyze smaller timeframes to assess the strength of the support or resistance. Support and resistance levels are relative rather than absolute, so conducting analysis on smaller timeframes becomes crucial. Therefore, when encountering support and resistance levels, smaller timeframe analysis is still important.
FOREXCOM:XAUUSD
by MRKKYI
Gold, NF BriefingGold prices achieved a five-day streak of gains on Thursday, hitting a high for the week. To the Federal Reserve, which dropped expectations of a rate hike at its June policy meeting. It caused the dollar to record its biggest one-day drop in almost a month. During the day, the U.S. May non-farm payrolls report will determine gold's rally and whether it can make a breakthrough at technical levels of resistance. Gold is at, near the resistance of the range since late May, with a resistance position above 1980, but not broken. If non-farm payrolls accelerate and slow down, there is a probability that gold will move closer to the resistance position of 1992 or 2003. Conversely, if nonfarm payrolls again exceeds expectations for growth, gold could fall to near the 1960 or 1940-46 positions. It will revert to the support position below the trend line.
FOREXCOM:XAUUSD
by MRKKYI
2
Gold,focus on the downward rise in support resistance position.On the gold side, it fell and then rose, continued to break through the previous resistance position, and D line closed positive. And yesterday, what should have fallen also fell, the first fell and then rose up, everything is still relatively perfect. On the one hand, the D-line four positive whether in this wave up or retracement, are the largest. So, after the cross to see more, it will need a larger retracement, and first down and then up, is to continue to maintain up thinking. 1, a combination of the previous day the U.S. market to the Asian market down, yesterday first to give you a look at the retracement, at least below 1955, the strategy also gave the support position of 1952. 2, the market from the beginning of last week, in on the location of the medium-term multi to everyone planning, the point in time completely overlap, but the price is unfortunately, there is a difference. And after the big sun rose, has been along with the bullish, yesterday is also looking forward to the double bottom position first down and then up. European market helpless gold prices did not reach the position of 1950, well in the ADP news market we are in 1958-59buy, rising profitably. The following are the technical points that need attention yesterday: 1, the European market first down and then up, back to the Asian market open down mouth 1965 position, went V, usually V-shaped trend, must not break the bottom again for the second time, unless great news impact. 2, the U.S. market before and after the time up, this pattern, has been stressed, either the U.S. market rises and falls, or is a rapid bottoming out. And the U.S. time before the first down, it must be to see the bottoming out. h1 hourly big positive bottom in 1960, and 618 position in 1959, which is the location of yesterday's U.S. market 1958-59buy, see the first down and then up. 3, h1 hourly chart on the one hand, the price can not break through the intra-day low, on the other hand, must be even positive, and finally, it is best to continue to break through the previous high. This is the sign of a rise. So, yesterday's U.S. trading is definitely a card two-headed trend: first down and then up is BUY, if the rise is definitely a double top pattern position SELL. And the U.S. market after the first down, buy order entry, sell order is out of the question. For today's aspect: Gold, currently out of the five suns. In fact, four suns, dare not look too much up is there is resistance, but five suns instead to BUY, on the one hand, first down and then up, the market concentrated chips, in addition to open up the space. But also note that the market is a shock rise, not a strong trend, which will have to grasp the time and location of entry. Usually the previous day up, the second day retreat, then the location of the entry three: the bottom of the big positive line, the early morning correction low, and 382 position. The first two did not, 382 position near 1971.5. But the h1-hour line first down and then up is at 1970. At the same time, the timing of yesterday's rise in the European session, so today, pay attention to the timing and location. Intraday attention: 1970-71.5 support position. Strong resistance at 1985-6. And to note that the double top resistance in 1986 near, today, do not be afraid, first down and then up and yesterday, the U.S. market before touching 1986 near can be empty, loss 93, the target look below 1977. The bottoming out, not to mention look to continue to close the sun, which looks at two points: 1, one is the continuation of the long, but not necessarily to break the high, up to the high point also have profits. 2, the rush back down, resistance level 1986 or to pay attention to the next.
FOREXCOM:XAUUSD
by MRKKYI
1
GOLD H1Hello traders, GOLD is setting up for a long position opportunity watch GOLD in a mentioned area according to your own trading strategy and look for a long position opportunity. I am waiting for price to come around my white box mentioned area and looking price action there for a long position opportunity, the area that i mentioned with the white box is also around 0.618 retracement of a previous impulsive move and the previous low that i mentioned with a little red box is my stop level, if price break that low then i will be not looking for a buy setups anymore. (close my laptop, enjoy my day and come back later) Remember : price can go directly to the target area from current market price as well without hitting our mentioned white box area if in case it happened then i will be let it go. (no trade is better than a losing trade) This is my view and analysis about GOLD. This is just analysis, not the exact trade or any kind of signal that proven with wining or losing % so be sure trade with your own according strategy do not depend on my analysis. I wish you good luck in trading.
OANDA:XAUUSDLong
by TheLoserMan
1
GOLD H1Hello traders, GOLD is setting up for a downside move watch GOLD according to your own trading system or strategy and look for a short position trade setup opportunity. I am currently watching price to hold around mentioned area and looking price movement for a short position setup, if price break the mentioned high then this setup will be invalidate. This is just analysis, not the exact trade or any kind of signal that proven with wining or losing % so be sure trade with your own according strategy do not depend on my analysis. I wish you good luck in trading.
OANDA:XAUUSDShort
by TheLoserMan
1
XAUUSD (GOLD) 1H: 20/02/2023: First Long then Short!!! Main idea: You can see all the possible scenarios on the chart. In my perspective, the price can move up to collect liquidity above 1870.55 and then fall. On the other hand, there is daily support on 1853.37 that may price react to it and fall. Another possible scenario is that the price rise to around 1885 dollar. There is a very strong supply zone. 💡Wait for the update! 🗓️20/02/2023 🔎 DYOR 💌It is my honor to share your comments with me💌
VANTAGE:XAUUSDShort
by VahidTradingCR
1
Gold Analysis 13/10/2020We have been ranging since London session yesterday with very little volume. We have three options for gold volume permitting. If we break above the range we have been stuck in, we can look for a potential wickfill which would be 30 pips, however that is a risky move. Safer buys would be if we break resistance at 1933. We have clean traffic to the left and we can look to fill the range up to 1940. For those looking to sell, if we break support at the bottom of the range at 1920, we have a clean range to fill to the downside, potential targets can be between 1912-1914. As always wait for confirmations before you execute your trades and trade with caution.
FX:XAUUSD
by rhf_fx
2
Gold 1H Breakout Trade (Naked Forex)Gold is looking to be gearing up for a breakout through the current 1H range pattern. If Gold breaks through the range high, we expect price to continue towards the Minor Resistance level (TP 1). There it may lose some bullish strength and seek to retest the previous range's high before continuing towards the Major Resistance level (TP 2). If the Current Range Pattern is not broken on this leg up, we expect price to begin heading downwards to test the range's low. Trading Ideas: 1. Go long on breakout of range pattern (red dotted line) 2. Go short with SL just above high of range pattern (green dotted line)
OANDA:XAUUSDLong
by Elemont