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Gold Trading Strategy for 16th December 2024Gold Trading Strategy Buy Above: The high of the candle which closes above 2662 on a 15-minute chart Sell Below: The low of the candle which closes below 2636 on a 15-minute chart Risk Strategies: Risk Strategy 1: Sell between 2660-2666 Stop-Loss: 2675 Targets: 2648, 2636, 2619 Risk Strategy 2: Buy between 2621-2617 Stop-Loss: 2608 Targets: 2636, 2648, 2660 Additional Tips: Monitoring: Continuously monitor the 15-minute chart for clear buy or sell signals. Risk Management: Always use stop-loss orders to manage risk and protect your capital. Market Conditions: Stay updated on market news and events that could impact gold prices. Disclaimer: This analysis is for informational and educational purposes only. Please consult with a certified financial advisor before making any trading decisions.
OANDA:XAUUSD
by ramkkyy
Gold plunges as Trump 'trumps' seasonalsLast week I revealed in a video of my scepticism gold would tracks its seasonality into December , given its outperformance earlier in the year and the hunch that Trump 2.0 would likely to overshadow typical flows. And Trump's US Treasury Secretary cabinet pick has done just that. Monday's price action should serve as a stark reminder that seasonality has taken a back seat with its prominent bearish engulfing day and most bearish candle in four years. And there could be further losses ahead. The daily chart shows the drop from its all-time high (ATH) came in three waves, which suggests it is the beginning of a larger ABC retracement. Assuming Monday's engulfing candle was the end of wave B, a 100% projection (wave equality) could see gold fall to ~2460. note that the daily low found support around a high-volume node (HVN) and weekly S1 pivot point. A bullish divergence is also forming on the 1-hour RSI (2) to suggest a bounce. Bears could seek to fade into retracement within Monday's range to try and increase the reward to risk ratio. MS
COMEX:GC1!Short
by CityIndex
Gold let's go ( Repost )- if we just analyze FA basically, the world political climate, fear of wars, Covid, Crises, inflation, Gold will always remains for the old generation the best store of value. - i don't show indicators to keep the chart clean but Gold is turning green and extremely bullish on Monthly Timeframe. - Gold made a constant flat accumulation between 2021-2022. - BB starting to be thinner ( sign of a move ). - This is a Medium/Long Term investment ( 2023 ). -------------------------------------------- Trading Parts : -------------------------------------------- Buy : Now TP1 : 2300$ TP2 : 2500$ -------------------------------------------- - i will post my old gold analysis in comments. Happy Tr4Ding !
OANDA:XAUUSDLong
by thecryer
10
Gold Consolidates Ahead of U.S. Election🟡 Gold Price Update: Currently at $2737.00 Gold has been moving sideways recently, showing a period of consolidation as market participants await further catalysts. This sideways movement reflects uncertainty and cautious positioning, likely influenced by the upcoming U.S. election. Historically, major events like elections can introduce volatility as investors seek safe-haven assets in times of uncertainty, and gold often responds with significant moves. 📊 Technical Outlook Support Zone: $2725.00 - $2730.00 Resistance Zone: $2745.00 - $2755.00 Range: The current range-bound movement between $2725 and $2755 indicates that buyers and sellers are in balance for now, awaiting clearer market direction. Key Indicators: Relative Strength Index (RSI): Currently near the 50 level, showing neutral momentum. A breakout above 60 could signal buying strength, while a drop below 40 may suggest a bearish momentum. Moving Averages: The 20-period SMA is close to the price action, underlining the ongoing consolidation. Watch for price action to decisively break above or below the SMA, potentially signaling a new trend. Volume: Volume has been decreasing, suggesting a lack of strong conviction from either buyers or sellers. Look for a volume increase on any breakout to confirm the direction. 🔮 Possible Scenarios with U.S. Election Implications With the election on the horizon, any surprising result or political uncertainty could cause a significant uptick in gold demand as investors seek safety. However, a clear result may bring stability, potentially putting downward pressure on gold. Trade Setup Idea: Bullish: Consider buying on a confirmed breakout above $2755, targeting $2780 or higher. Bearish: A break below $2725 could open doors for a drop to $2700. As always, keep your risk management tight and watch for news developments. The market will react sharply as new information comes in!
OANDA:XAUUSD
by forexorbit