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Clear gold buying price As mentioned yesterday, the upward trajectory of gold necessitates certain catalysts. Today, the influence of geopolitical factors has intensified, propelling gold to a peak of 2688. Concurrently, the latest U.S. initial jobless claims data was released, yielding a bearish impact that temporarily reduced gold prices to 2673, before a swift rebound brought them back to 2680. With the two primary news items now available, it's evident that bullish sentiment significantly outweighs bearish pressure, with substantial upside potential awaiting a breakout. The sustained appreciation of the U.S. dollar amidst geopolitical tensions further underscores the dual role of both gold and the dollar as safe-haven assets. Thus, until the geopolitical landscape stabilizes, a low-position buying strategy for gold remains prudent. Buy: 2670-2675 Sell: 2700 Profit margins should be managed according to individual risk tolerance.
OANDA:XAUUSDLong
by George_parse
NEW ATH ! XAU ! wait to reach $2700 for gold⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: The recent drop in Crude Oil prices is likely to reduce inflation pressures, enabling major central banks to cut interest rates further, which supports demand for Gold. The European Central Bank is set for its third rate cut of the year this Thursday, while a sharp decline in UK inflation has strengthened expectations of a Bank of England rate cut in November. ⭐️Personal comments NOVA: Gold prices recovered - when war information continued to have a good impact on the Gold market. Expect to touch old ATH 2685 this week and correct to create additional liquidity ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2700 - $2702 SL $2707 TP1: $2690 TP2: $2680 TP3: $2670 🔥BUY GOLD zone: $2663 - $2661 SL $2656 TP1: $2670 TP2: $2680 TP3: $2690 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDLong
by Nova-Scalper
3
Seize the Opportunity and Preemptively Position for ShortsShortly, the U.S. will release the initial jobless claims data and September retail sales month-over-month figures. Prior to the announcement, I personally predict these data points are likely to be bearish for XAUUSD, making it a good opportunity to preemptively position for shorts, suggesting a short entry around 2690 while awaiting the data release. XAUUSD Trading Strategy: Short at the high of 2688, with a take-profit target set at 2670.
OANDA:XAUUSDShort
by Falcon-Training-Camp
Gold approaches historical highs, U.S. economic data becomes keyThe previous entity of the 4-hour cycle has been broken, and the gold price has been rising step by step, with new highs constantly, and it is necessary to take the previous high point in one round. The 4-hour operation is maintained above the moving average, and the trend is very healthy. In addition, from a structural point of view, the gold price first fell to the 2610 line, so the later stage is to break through the previous high, which is structurally a case of breaking without building. The daily line is still under double top suppression. If it falls under pressure, the double top pattern will gradually show its power, and gold will slowly weaken. Of course, there are data today. If gold directly breaks through the historical high, then gold will continue to rise. If it breaks through the historical high, then the decline will follow the trend and go long. If it does not break the historical high, then gold will continue to be short at highs below 2685 in the short term 1. The morning rise continues to test the 2685 high point without breaking, forming a morning force. 2. The current retracement, the watershed yesterday morning low of 2667, is also the stop loss position for long orders 3. The trend of the morning power is very important in the European session. It has been emphasized before that the earlier the European session breaks through, the greater the upward momentum. In addition, the more times the top is tested, the greater the probability of breaking, so if it goes up, it will break the high. At the same time, if this pattern continues to be long, we must pay attention to the European session. The price cannot go down the watershed. If it breaks, it will be volatile. Therefore, with the help of retracement, continue to be long, break the watershed loss, the upper target is 2688-90, break the European session, and the US session will look at the 2700 mark
TVC:GOLD
by David_strategy
1
XAUUSDHere is our view and update on XAUUSD . Potential long opportunity. As per our last adaptive analysis, XAUUSD continued to the upside. We now had a beautiful break and a retest of our PBA 1 (Pullback Area). We should see more upside . In detail, We broke our PBA 1 area at 2640-2644 and made a nice retest . The price is staying above those price levels which gives us a good sign that we will continue to the upside . Our entry is sitting at 2655 and our TP (Take Profit) is sitting at the current ATH (All Time High) at 2685.640 . Our SL is below our PBA 1 sitting at 2637.800 as if we break below it, we should see more downside moves. PARAMETERS - Entry: 2655 - SL: 2637.800 - TP: 2685.640 KEY NOTES - XAUUSD broke and retested our PBA 1. - XAUUSD is trading above our PBA 1. - Break below our PBA 1 could result in more downside. Happy trading! FxPocket
OANDA:XAUUSDLong
by FxPocket
6
Navigating Market Volatility: Strategies for Gold Trading In the New York market, profits from short positions near the recent high of $2,680 have been realized on two occasions. Similarly, profits from low buy orders have been observed. Currently, we find ourselves near the $2,675 level, where I have paused trading. Upon market opening, I anticipate a certain degree of downward movement, providing opportunities for gold price recovery. As mentioned previously, breaking through the recent highs requires greater momentum. Until this momentum materializes, I suggest maintaining a predominantly short position. Key factors to monitor include geopolitical developments and the release of initial jobless claims data in the U.S. this week, as well as any potential black swan events. Sell: $2,680 - $2,685 Buy: $2,660 - $2,665 Profit margins should be managed at your discretion. CAPITALCOM:GOLD OANDA:XAUUSD
CAPITALCOM:GOLDShort
by George_parse
XAU / USD ! 10/16 Bulls prevail $2685XAU / USD trend forecast October 16, 2024 Gold prices rose on Tuesday as US Treasury yields fell, limiting gains for the US Dollar. The economic calendar included the New York Empire State Manufacturing Index and the NY Fed Consumer Expectations Survey, with XAU/USD trading at $2,664. The Empire State Manufacturing Index for September showed a weak result, while the NY Fed survey indicated higher inflation expectations for the month. Gold price surpassed the nearest resistance zone of 2660, approaching the next price zone of 2672. The bulls are dominating, determined to find the old ATH of 2685 this week. /// SELL XAU : zone 2685-2682 SL: 2690 TP: 50 - 100 - 200 pips (2665) /// BUY XAU : zone 2653-2650 SL: 2645 TP: 50 - 100 - 200 pips (2670) Safe and profitable trading
OANDA:XAUUSDLong
by Moon-ForexAcademy
7
Gold : Key Events to Watch for Breakthrough OpportunitiesGold prices are currently facing significant upward resistance, and breaking through historical highs requires specific market catalysts. Major economic data releases, shifts in geopolitical dynamics, and the upcoming U.S. weekly jobless claims report are all critical factors that could impact gold’s trajectory. Additionally, a substantial appreciation of the U.S. dollar may exert further pressure on gold prices. Therefore, in the short term, it is advisable to adopt a strategy focused on selling at high levels to achieve optimal profit targets. Sell Range: 2685-2680 Buy Range: 2660-2665 OANDA:XAUUSD CAPITALCOM:GOLD COMEX:GC1! COMEX_MINI:MGC1!
CAPITALCOM:GOLDShort
by George_parse
Short-term gold peaks and continues to pull back, look at 2660Gold, washing up, the daily line turned positive and broke the high, and continued to rise. But in terms of trend, it did not rise directly, but bottomed out and rebounded, and continued to wash out. On the one hand, the price broke the low point of 2640 in the previous two days, and it was weak on the surface, but the European market rose strongly and returned to the opening of the morning. And the long orders were defended at this position price, and they had to be swept out. On the other hand, if you look at the breakout and fall, yesterday's rebound empty basically fell into the pit. Technical points: 1. It is not extremely strong, because it is bottoming out and rising, washing up. We expect it to be extremely strong, with a cycle in the morning, the European market rose vigorously, and the US market broke the high, but it bottomed out to the watershed in the morning. 2. The rising cycle at 10 o'clock in the morning has not been broken. It continued this morning. 3. The European market has a V-shaped reversal. If the European market reverses, the US market will be bullish. And yesterday there was also a position to follow: the US market rose the day before, and just at 8 o'clock it retracted the increase of 618. The same was true for the US market yesterday, just at 8 o'clock it retracted the intraday increase of 618. 4. The US market did not rise directly, but pulled back and forth twice, up and down, and continued to attack and close, still testing the bulls, which is a shock wash, not extremely strong. Intraday operation analysis: 1. The 10-point rising cycle rhythm still appeared in the Asian market. 2. The watershed 2658 line. 3. The more times the resistance level is tested during the rise, the weaker the resistance level. The higher the probability of breaking the high. Continue to pay attention to two rhythms:, The earlier the European market breaks through, the greater the probability of the US market breaking the high. The European market rises, pay attention to the cycle of these two days, the position and time point of the US market.
TVC:GOLDShort
by David_strategy
2
Invest in Gold? Exploring the Impact of Diwali The price of gold has reached unprecedented heights in the retail market, setting a new record as the Hindu festival of Diwali draws near. Factors, including increased demand, global economic uncertainties, and geopolitical tensions have driven this price surge. The Multi Commodity Exchange (MCX) December contracts for gold have also witnessed a significant uptick, reflecting the broader upward trend in the precious metal's value. This positive momentum is largely attributed to favorable global cues, such as concerns over the US debt ceiling and ongoing geopolitical tensions. Factors Driving the Gold Price Surge • Diwali Demand: The festival of Diwali, known for its celebrations and gift-giving, is a significant driver of gold demand in India. As the festival approaches, consumers are increasingly purchasing gold jewelry, coins, and bars as a symbol of prosperity and wealth. • Global Economic Uncertainties: The lingering effects of the COVID-19 pandemic, coupled with geopolitical tensions and concerns about global economic growth, have made gold a safe-haven asset for investors. As uncertainty persists, investors are turning to gold as a hedge against market volatility. • Inflationary Pressures: Rising inflation rates, both domestically and internationally, have also contributed to the increase in gold prices. As purchasing power declines, consumers may seek to preserve their wealth by investing in gold. • Geopolitical Tensions: Ongoing geopolitical conflicts, such as the Russia-Ukraine war and tensions in the Middle East, have created a sense of unease and uncertainty in global markets. This has led to increased demand for gold as a safe-haven asset. Impact on Retail Market The surge in gold prices has had a significant impact on the retail market. Jewelry stores and bullion dealers have reported a surge in demand for gold products, leading to increased prices and longer waiting times for certain items. Some consumers may find it challenging to afford the higher prices, while others may view it as an opportunity to invest in a valuable asset. Government Measures and Outlook In response to the rising gold prices, governments may consider implementing measures to curb demand or stabilize prices. These measures could include import restrictions, increased taxes on gold purchases, or the release of gold from government reserves. However, the outlook for gold prices remains positive, particularly in the short term. As Diwali approaches and global uncertainties persist, gold prices will likely continue to be supported by strong demand and a favorable market environment. Conclusion The record-high gold prices witnessed in the retail market as Diwali nears are a reflection of a confluence of factors, including increased demand, global economic uncertainties, and geopolitical tensions. While the surge in prices may pose challenges for some consumers, it also presents opportunities for investors seeking to preserve their wealth and hedge against market volatility. As the festival of Diwali approaches, it is anticipated that gold prices will remain elevated, driven by strong demand and a favorable market environment.
OANDA:XAUUSDLong
by bryandowningqln
Golden opportunity for gold! The Fibonacci channel has been drawn, and Elliott waves can be observed on the chart. Currently, the price is in the fifth Elliott wave. We have two scenarios for the future of gold: 1)The first scenario is a bullish scenario. Given the geopolitical tensions and conflicts between Israel, Iran, and Lebanon, as well as China's threats against Taiwan, which have all contributed to a further increase in gold prices, if these trends continue, it could complete wave 5 at the 1.414 level of the Fibonacci channel. 2)The second scenario is a bearish scenario. If we witness a hawkish stance from the FED or a reduction in geopolitical tensions, then we should expect a price reversal from the previous high of 2687. In this case, the 0.618 Fibonacci channel level would serve as strong support. Considering the geopolitical tensions, I believe the first scenario and a breakout above the previous high are more likely. In that case, we should watch for a breakout above the previous high and then enter a long position after confirmation.
OANDA:XAUUSDLong
by Market-Analyzer
XAU recovers - positive market !! $2685⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold prices (XAU/USD) rose for the second consecutive day on Wednesday, reaching a one-and-a-half-week high of around $2,670 during the Asian session. Lower US Treasury yields pulled the US Dollar away from its two-month peak, supporting gold. Additionally, weaker global equity markets and ongoing geopolitical risks boosted demand for the safe-haven metal. Central bank demand further supported gold prices, though expectations of a less aggressive policy easing by the Federal Reserve (Fed) and a likely 25 basis point rate cut in November may limit any significant USD decline. Moreover, reports that Israel won't target Iran’s oil and nuclear sites could cap further gains for gold, suggesting caution for additional upward movement. ⭐️Personal comments NOVA: Gold prices recovered - when war information continued to have a good impact on the Gold market. Expect to touch old ATH 2685 this week and correct to create additional liquidity ⭐️SET UP GOLD PRICE: 🔥BUY GOLD zone: $2651 - $2649 SL $2644 TP1: $2660 TP2: $2670 TP3: $2683 🔥SELL GOLD zone: $2671 - $2673 SL $2677 SCALPING TP1: $2665 TP2: $2660 TP3: $2650 🔥SELL GOLD zone: $2683 - $2685 SL $2690 TP1: $2675 TP2: $2668 TP3: $2660 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDLong
by Nova-Scalper
3
Short-Term Rebound and Conservative Short StrategyAfter shorting at 2668 yesterday, it dropped about 7-9 points to 2659. Then it started to consolidate sideways, which is consistent with my speculation in the short term. However, after the overnight gold price was affected by the news that "Israel's attack plan on Iran is ready", it continued to rise to 2683, close to the historical high. But the detailed events have not been updated. So will the war break out again? At present, the gold price is at 2678, and I continue to short. At present, there is still buying pressure near 2685. So the gold price will continue to be under pressure and fall in the short term. Of course, if the market releases "smoke bombs" again. I think the gold price will fall again and then rebound to test the upper pressure position. Short the gold price first, and then go long. sell:2683-2679 buy:2660-2665 Waiting for the arrival of the New York market.
TVC:GOLDShort
by George_parse
Gold May Rise to 2685.00 - 2700.00 (READ DESCRIPTION)Gold May Rise to 2685.00 - 2700.00 Pivot Point: 2665.00 The pivot point of 2665.00 serves as a crucial level for determining market direction. It acts as the line between bullish and bearish sentiments. As long as gold remains above this pivot, the outlook is bullish. Our Preference: Long Positions: Gold is expected to rally, with an upside trend prevailing as long as the price is above 2665.00. Target Levels: Target 1: 2685.00 Target 2: 2700.00 This implies a potential upward movement of about 20 to 35 dollars from the pivot point. Alternative Scenario If gold prices fall below the pivot level of 2665.00: Bearish Outlook: The market may shift to a bearish sentiment, indicating a potential reversal in the upward trend. Target Levels: Target 1: 2656.00 (support level) Target 2: 2645.00 (further downside potential) This suggests that if the price breaks below 2665.00, it could decline further. Technical Indicators Relative Strength Index (RSI): The RSI is currently bullish, sitting above the neutral 50 level, indicating that the market is likely to continue its upward movement. A reading above 70 would indicate overbought conditions, suggesting caution. Moving Averages: 20-Day Moving Average: Indicates short-term trend direction and is currently above the pivot, supporting bullish sentiment. 50-Day Moving Average: A longer-term trend indicator, also above the pivot, reinforces the bullish outlook. Price Action: The current price is above the 20-day and 50-day moving averages, which typically indicates a bullish trend. A move below the pivot could signal a trend reversal or increased selling pressure. Volume Analysis: Increased trading volume on upward price movements can confirm the strength of the bullish trend. Conversely, declining volume on price drops could signal weakening selling pressure.
OANDA:XAUUSD
by CharivapaAlgo
Gold fluctuates at a high level on 10.16, waiting for a pullbackGold has fluctuated at a high level in the past two days, and there are many resistances above. Don't chase long at high levels for the time being. However, the recent risk aversion sentiment has continued to support the rise of gold. Gold should wait patiently for a decline to go long. Pay attention to the resistance above 2680. The 1-hour chart of gold is now fluctuating at a high level. Gold fell to 2638 yesterday to bottom out and rebounded. In the morning, it was long on dips above 2638, and it can continue to go long when it falls back to around 2640; gold is not rising directly unilaterally now. If you go long, you must wait patiently for a decline. Don't chase long easily at high levels, otherwise you will be at a loss again after a pullback. Continue to pay attention to the historical high of 2685 resistance above. You can go short in the short term. At this strength, gold does not have the momentum to set a new high in one fell swoop. Gold longs and shorts are in a state of anxiety again; gold does not break highs, don't chase long easily, wait patiently for a decline opportunity, and follow up if it breaks through a new high directly. Operation idea: SELL: 2678 Stop loss: 2685 Target 2655--50 BUY: 2640, stop loss 2630, target 2660-2670;
TVC:GOLDShort
by David_strategy
1