FOREX GOLD XAUUSD SUPPORT AND RESISTANCE LEVELS ||05/08/2022FOREX GOLD XAUUSD SUPPORT AND RESISTANCE LEVELS ||05/08/2022
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Goldforecast
GOLD LONGmy confluences;
d; the big trend is bearish
4h; bullish
( for a quick intraday trade imma follow the 4h trend)
broke the range zone
price broke above resistance
broke the previous HH with high momentum
above 50/20emas
1h
long wick rejection .
15m
my entry was on the close of an engulfing candle
sl; previous swing
tp; nearest s/r a quick one price may reverse on me at any moment cus its a counter trend trade
RM;
risk; always 1% or less
rrr; the mini target 3.1
PSY;
protect capital first then make money second
always manage ur risk vs reward
be patient on ur setups
advice; when the position is on profit trailing stops and scaling onto the trade while letting previous once risk free.
XAUUSD top-down analysis, UPDATED!!Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GOLD possible sell zone!!GOLD(D) has just bounced from the weekly support, tested as resistance, and dropped as a daily pin bar. As the long-term trend is down, there is a probability for gold to drop to the neck line of daily inverted head & shoulder that has formed on the reversal to the upside. A selling opportunity on the restest of the neckline of the daily pin bar!
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DeGRAM | GOLD divergenceGOLD has tested resistance level at 1780.
Price action created a compression channel with divergence.
Notice there are tweezer top candles at the level (bearish reversal pattern), which indicates a rejection .
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Share your opinion in the comments and support the idea with like. Thanks for your support!
GOLD top-down analysis, UPDATED!!Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GOLD (XAUUSD): Important Zone to Watch 🥇
Hey traders,
I spotted a peculiar confluence zone on Gold.
The price is currently approaching a major falling daily trend line.
It matches perfectly with a completion point of a harmonic ABCD pattern on 4H time frame.
I will expect a pullback from the underlined yellow zone next week.
Target - 1745
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
GOLD is preparing for another rise?GOLD ( 4H ), has formed possible bullish price action. On the monthly and weekly close, we could see a test of previous support as resistance as the dollar gets weaker, GOLD may strengthen for the short term. Based on opening price action, there could be a bullish opportunity on gold!
If you like this idea, press the like button to help the idea.
Gold Forecast/Idea XauUsdTwo Scenario
The first scenario with a probability of 55%:
Breaking the daily resistance in the price range of 1800 and hitting the price range of 2075-2080.
The second scenario with a probability of 45%:
Hitting the resistance of 1800 and returning to the daily and weekly support in the price range of 1680 and 1600.
80% of the reasons for the upward movement of the price of gold and its fluctuations in the next weeks ( like the last 6 months, of course ) are influenced by the news and in general, fundamentals, which are mainly news like; The war between Russia and Ukraine is the decisions of the central banks for the financial, energy and food crises around this war and the exit from the Covid-19 epidemic recession, of course.
Undoubtedly, price changes and fluctuations in energy (oil and gas indexes) have a direct impact on precious metals and gold,
So be aware that sudden movements due to news and fundamental analysis have a high impact on your trades in this period of time, and you should pay special attention to the News.
Good luck
P.S
Dear Friends; Write any suggestions for currencies analysis or stocks in the forex and cryptocurrency market in the comments so that we can publish their analysis.
sincerely
Gold Analyze (Where is the end of the correction❗❓)(Update)!!!GOLD moved as I expected in my previous post about GOLD 👇
If you want to know about my Gold Road Map🗺️, please look at 👇
GOLD is moving near the Heavy Support Zone, and I expect that around the current price can be the end of microwave 3 of microwave 5 of microwave C of Main wave 4.
Where is the end of main wave C ❗️❓
🎯Target🎯: 1720$ until 1670$
Gold Analyze, Timeframe 8H(Log Scale)
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Gold Analyze (Where is the end of the correction❗❓)(Update)!!!If you want to know about my Gold Road Map🗺️, please look at 👇
Gold is making zigzag correction for completing the microwave 4 of microwave 5 of microwave C of Main wave 4.
I expect that Gold will reverse around PRZ (Price Reversal Zone).
Also, the Stochastic RSI Indicator is on the resistance line 👇
🔴PRZ🔴: 1772$ until 1755$
Where is the end of main wave C (End of Main wave 4) ❗️❓
🎯Target🎯: 1720$ until 1670$
Gold Analyze (XAUUSD) , Timeframe 8H ( Log Scale )
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Gold analysis: Is the worst behind us? Gold prices reacted positively to the Federal Reserve's decision not to raise interest rates by a full percentage point in July.
First and foremost, the reduction in expectations of future rate hikes due to concerns about a recession in early 2023 drove gold above $1,740 per troy ounce. The expectations of lower rates in 2023 also weakened the US dollar, as evidenced by the DXY index falling to the 106 mark, as of this writing.
Is the worst for gold now behind us?
Even though fears about rates are less than they were a few weeks ago, there is still no sign that the Federal Reserve is taking a more dovish stance.
However, gold may begin to decouple from its negative relationship with interest rates and see strong investment demand if economic actors start to factor in that inflation will be difficult to control even with higher interest rates.
The event of a de-anchoring in inflation expectations, which historically happened when inflation exceeded the double digit mark, will provide a strong support for gold as inflation hedge.
Gold technical analysis
Technically, the downward channel is still in place, but gold's price momentum is picking up as the RSI is getting close to the important 50 threshold, which it hasn't seen since mid-June.
The MACD offered a bullish crossover this week, supporting the thesis of a likely short-term trend rebound.
Gold is attempting to test the $1,750 resistance level, which if broken could open the door for a $1,786-1,790 resistance test. Beyond this point, the psychological level of $1,800—which corresponds with the upper line of the descending channel—becomes crucial for a trend reversal confirmation.
On the downside, $1,710 continues to offer strong short-term support, and year-to-date lows of $1,680 appear more difficult to retest if the Fed doesn't unexpectedly make extremely hawkish comments before the September meeting.