Gold broke the down trend and retesting it (bullish)Prices is currently above the 200 MA, I also see the price broke the down trend and is retesting The price is currently above the 200 MA. I also noticed that it has broken the downtrend and is now retesting it. If the price breaks through the bearish order block (OB) and successfully retests it, I anticipate it will continue moving upwards and potentially reach the top.
What are your thoughts? Let me know in the comments
Goldlongsetup
Gold can hit 2750 before continuing it's bearish reversal trend?Gold prices climbed further, driven by escalating Middle East geopolitical tensions and a Wall Street selloff boosting safe-haven demand.
China likely acquired over five tonnes of gold in Nov, according to the PBoC report.
Upcoming central bank decisions in Canada, the EU, Switzerland, and the Fed are expected to heighten gold price volatility as investors await key economic signals.
XAUUSD firmly broke above its sideways range, with higher swings and diverging bullish EMAs indicating its bullish momentum.
If XAUUSD surpasses the previous high at 2720, the price could rise toward its resistance at 2750 before a potential bearish reversal.
Conversely, if XAUUSD retraces, the price may dip to 2680 before continuing its uptrend.
1M liquidity found on 2720 and 1M+ liquidity found on 2750 so move is confirm
Gold Trading Idea: Is a New ATH on the HorizonGold prices took a breather on Thursday, snapping a four-day rally and dropping over 1%. This pullback comes amid mixed US economic data, with softer-than-expected job reports and higher producer prices creating uncertainty. Profit-taking ahead of next week’s Federal Reserve meeting further pressured prices, with XAU/USD currently trading around $2,684.
Fundamental Insight
Despite the recent dip, Gold remains a safe haven asset in the face of geopolitical tensions and central banks’ dovish monetary stance. The European Central Bank’s third consecutive rate cut and expectations of the Federal Reserve reducing rates by 25 basis points next week could set the stage for renewed upside momentum.
As we edge closer to year-end, political tensions and easing monetary policies globally could fuel Gold’s potential to challenge new all-time highs.
Technical Outlook
On the charts, Gold respected the $2,720 key level, forming a double-top pattern reminiscent of a "batman face." Key levels to watch are:
Resistance: $2,720
Support: $2,689 and $2,610
A break above $2,720 could signal a bullish continuation, while a dip to $2,610 may offer a strong buying opportunity for long-term traders.
Stay tuned for more trading insights and strategies!
12.11 Gold breaks resistance level, 2700 is comingTechnical analysis: key support and resistance levels
From a technical perspective, spot gold has successfully broken through and closed above the key resistance level of $2,650, and this breakthrough has provided new momentum for bulls. The oscillator indicators on the daily chart show positive upward momentum, suggesting that gold prices may continue to challenge the $2,700 mark and further touch the supply range of $2,720-2,722.
But at the same time, attention should be paid to the role of support levels. As a previous resistance level, $2,650 has now been transformed into an important short-term support. If it falls below this level, gold prices may further pull back to the $2,625-2,620 area, or even test the $2,600 integer mark. If it breaks below $2,600, it may open up more downside space, targeting the November low of $2,537-2,536.
Intraday analysis: upward momentum may continue
Overall, the upward momentum of spot gold remains solid. Under the combined effect of safe-haven demand, weak US dollar and geopolitical risks, gold prices are expected to continue to rise in the short term. However, before the Fed meeting and the release of the US Consumer Price Index (CPI) data, the market may be volatile. If the CPI data shows that inflationary pressures are easing, it may provide conditions for gold bulls to further exert their strength.
In the medium and long term, the gold market is still strongly supported by fundamentals. Investors should pay close attention to the latest developments in the Fed's policy direction and the geopolitical situation, which will continue to affect market sentiment and gold prices.
12.10 If gold falls back, go longYesterday, the gold market opened high at 2645.3 in the early trading due to fundamental risk aversion news. After that, the market first filled the gap and reached 2627.2. After that, the market rose strongly. The daily line reached 2676.4 and then the market consolidated. The daily line finally closed at 2660. After that, the market closed with a spindle pattern with long upper and lower shadows.
BUY: 2645 Stop loss: 2640 2635
$: 2657, 2667, 2677. Breakthroughs look at 2685, 2692, 2702-2710.
12.10 Geopolitical gold prices are expected to riseThe oscillating market is a market that accumulates momentum. The longer the oscillation lasts, the longer the unilateral continuation will last after the breakthrough. This is the basic law of the market trend.
In the morning of December 9, the price of gold rose first, which was a response to the risk events over the weekend. The safe-haven property of gold was reflected again.
The situation in the Middle East (Syria) is deteriorating continuously and rapidly. Its opposition has seized control of the capital Damascus, and the top leader has been forced to flee. This "evolution" is the key to the deterioration of the incident, which has aggravated market concerns.
Intraday analysis suggestions:
In the short term, the support below the gold price is $2,620. This position has been tested and tested many times in the early stage. The upper pressure is at $2,660 and the strong pressure is at $2,670. The early week period can maintain a bullish trend on the strong support of $2,620.
The pressure shown by the technical side is very obvious at the moment, but the fundamental support factors also exist. This is the reason for the continuous struggle between long and short positions, and it is also the reason for the breakthrough. On the whole, after the oscillation or struggle between long and short positions, the probability of the long side winning is relatively high. Therefore, the transaction can be mainly long on dips
XAU/USD Longs from 2,590 or 2,570?Gold has been trading within a range, creating significant liquidity both above and below the current price. Once this consolidation phase breaks, I anticipate a reaction from either my supply or demand zones. Overall, my bullish outlook on gold remains intact.
I am particularly focused on the demand zones around 2,570 and 2,590, which I’ve marked as key areas. If the price reaches these levels, I expect a slowdown, allowing for accumulation before initiating a new rally to the upside.
Confluences for GOLD Buys:
- Bullish Market Structure: Higher timeframes continue to show strong bullish momentum.
- Break of Structure: Price has broken key levels to the upside.
- Unmitigated Demand Zone: Price needs to revisit these areas before continuing higher.
- Liquidity Above: There’s a notable amount of upside liquidity, particularly around Asian session highs.
Note: If gold takes out the upside liquidity, I’ll shift my focus to potential sells around 2,670, targeting the 5-hour supply zone for a reversal back down.
12.6 Gold breaks bottom to welcome non-agricultural sector!Tonight's non-agricultural data, the market is divided into two sections:
1. Before the non-agricultural data, according to the current rhythm, it is considered to be volatile, so change the range or short, volatile 618, choose the intraday decline and rebound 618 position, you can also short.
2. Non-agricultural data, last month's non-agricultural data was only 12,000. According to ADP, it is bullish for gold, but the data is bullish, and the probability of non-agricultural data being negative is not high. It can only be lower than expected. At the same time, the increase in unemployment rate is bullish for gold. This is also difficult.
So for the evening non-agricultural data, the current decline will either release the non-agricultural trend in advance or rush down and fall back. It is unlikely to be simply bearish.
The intraday short-term 618 position is at the 2626-8 line, which can be blocked for the second time.
Non-agricultural support, if it continues to break the bottom, don't grab more, this kind of continuous bottom breaking, more is meaningless.
See if it bottoms out and rebounds, and treat it as a new range of fluctuations.
Focus on the 100-day moving average position below, the daily large-scale support level
In addition, according to our shock formula, short-term and long-term opportunities are not available at the moment.
Before the non-agricultural market, there will be a second reminder, just follow the members.
12.6 Gold shock awaits non-agricultural sector① Gold was still in a range yesterday and needs to wait for Friday's non-farm payrolls;
② The current daily indicator MACD is oscillating near the zero axis, and the dynamic indicator STO is oscillating upward with two lines; it means that there is no direction.
③ The daily Bollinger Bands are beginning to shrink and compress the range on the three tracks. The current upper and lower track range is 2705-2558, and the small range is the middle track and MA30 adhesion point 2631-2667
④ The current 4-hour moving average is entangled with the middle track, and the upper and lower tracks are running flat, which means range oscillation. The current range is 2629-2656.
Strategy:
Long near 2615, defend 2605, and target 2644-2650-2658
Short near 2660-62, defend 2669, and target 2650-2645
12.5 COMEX Gold Technical AnalysisFrom a technical perspective, the gold daily line is close to the upper edge of convergence, and the Bollinger Bands show signs of closing. At the same time, the price has not broken through the moving average pressure, and the KDJ indicator is in a state of fluctuation without an obvious direction.
The daily level convergence pressure is around $2,690. If it breaks through, it is expected to accelerate upward and test the previous high point. If it breaks below the support of 2,640, it will accelerate downward.
From the 1-hour level, the Bollinger Bands are closing, and the convergence structure is entering the end, waiting for the direction to be chosen. The current volatility has dropped significantly.
The technical indicators remain volatile, with intraday high selling and low buying, and the lower support is $2,650 and the upper pressure is $2,690.
SELL: 2,650 Defense: 60 Target: 35-----30
12.5 Gold shocks, waiting for non-farm payrolls, short and longYesterday, the gold market opened at 2643.2 in the morning and then fluctuated in the range. Before the start of the U.S. market, the market gave a daily low of 2631.8 and then the market quickly pulled up to the daily high of 2657 and then the market consolidated. The daily line finally closed at 2649.8 and the market closed in a spindle shape with a lower shadow slightly longer than the upper shadow. After ending with this shape, today's market fell back to more. In terms of points, if today's market rises first, give a short stop loss of 2652 to 2657. If it falls back to 2637 first, the long position will be conservative at 2635 and the long stop loss will be 2631. The target is 2657. If it breaks, the pressure of 2661 and 2667 will be seen.
11.4 Gold weakens in the short termGold has fluctuated for two consecutive trading days, and it should break today.
Yesterday, as expected, the daily line rose after a single negative, mainly in three aspects:
1. Since this wave of rebound, the daily line has been a single negative, so look at the cycle.
2. The previous day rebounded too much. Although it retreated at the 618 position, the double bottom position is still there.
3. In the morning, 2633 is not only a rebound and retreat to the 618 position, but also a previous low point.
When looking at fluctuations, I have always emphasized a method, 618 is better to make a mistake than to let it go.
Therefore, we used gold non-short yesterday.
At the same time, let's look at yesterday's technical points:
Yesterday emphasized two watersheds, one is the time point of the European session, and the other is the price: 2633 and 2644, and the intraday breakthrough will continue.
1. In the morning, it directly relied on the low point to rise, quickly to the 2652 line, and the price effectively broke the morning low of 2644. It also emphasized that after the breakthrough, it is enough to step back more.
2. 2639 is the morning rebound and retracement to 618. The shock continues to see a step-back entry.
3. Although the performance before the US market is not big, the formula emphasizes that the correction at 6-8 points before the US market is still bullish. Yesterday, the US market also continued to rise after the breakthrough as expected.
But there are also regrets. It continued to fall back at 12 o'clock in the morning.
In the formula time point, we will make a summary at 12 o'clock every night. On the one hand, the Asian market is now big, and we will make a layout at 7-8 o'clock the next day, and also make a summary for the day.
Yesterday at 12 o'clock, it returned to the prototype: the first thought is that it was short at 7-8 o'clock this morning, and gold was weak.
Today, it is still the same. In this form, don't look at the continuous positive cycle of the daily line. Instead, the yin and yang lines in the shock are interchanged. Today, we see a break and fall.
For operations, it has been emphasized recently that the Asian market fluctuates greatly, and the focus is on the layout at 7-8 o'clock.
Therefore, you can go short in the morning, the upper watershed is 2649, and the lower target is 2627-29.
In addition, if it falls below 2630 today, then it is still short in the European session.
Due to the oscillation pattern retracement, pay attention to the entry point at 618, and the extremely weak 382, which refers to the entry point for the second rebound when the intraday high falls to the low.
12.4 Gold today overall range sweepOn Tuesday, the price first dropped to 2634-2633 in the morning, and the support was confirmed in the afternoon, and it was pulled up to 2650 area.
Then, the first bottoming out and rebounding action has been made. Next, under the condition of keeping low, we can look at the second continued upward action, and then break through and stand firmly on the large channel, and then look at the third acceleration to complete the pull-up of 30 US dollars in space
The four-hour pattern continues to show a narrowing situation, waiting for the subsequent breakthrough opening to guide a wave of unilateral volume
The closing range of the shape, the upper rail is 2666-2664, and the lower rail is 2620-2622
The position of the large channel line is close to the upper rail pressure 2652-2653. The support in the same area expands the sweeping space upward. Today's early trading squats back to hold the lower rail support
It can break through and stand firmly along the large channel line 2652-2653, and switch upwards. The next channel upper rail position focuses on the 2676-2678 area
BUY: 2635————2640 Stop loss: 2645————50
Target: 2660 2665
The daily hammer of gold market is extended and rubbed.From the technical perspective, the price of gold continues to fluctuate within the convergence triangle area. The decline on Monday this week is consistent with the characteristics of a volatile downward trend, with the lowest intraday price reaching 2620, which is exactly the starting point of the stabilization and rebound last week, highlighting its key support significance in the volatile market. As the price falls, the market has fallen below the volatile upward support line and is under pressure from the previous high of 2650, with a significant double suppression effect.
Looking ahead to the intraday trend, the suppression of the 2650 line still needs to be focused on this trading day. Given that gold is still in the volatile downward stage of the large-cycle convergence triangle and the downward trend has not yet ended, there is a possibility that the price of the market will fall below 2620. Therefore, in the short term, we maintain a bearish mindset, with 2650 as the key suppression level, and are bearish on gold. However, in the context of frequent interweaving of long and short factors, investors need to pay close attention to market dynamics and flexibly adjust strategies to cope with changes that may occur at any time.
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XAUUSD, 30-MINUTES TIMEFRAME CHARTXAUUSD, 30-minute timeframe chart
XAUUSD break the resistance level of 2,612.00
General outlook
XAUUSD has been under buying pressure within the last day. The pair moved up to the resistance level of 2,612.00.
Possible scenario
The best way to use this opportunity is to place a buy limit order at 2,612.
Set your stop loss at 2,605. below the previous low ($7.00 loss for 0.01 lot) and take profit at 2,635. ($23.00 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
Long Position Stuck, Currently Reversing the LossesYesterday, the long position got stuck, but I have been using scalping on shorter timeframes to recover the losses, and now it's turned into a profit. With the remaining time today, I believe gold will rise to around 2630. During the process, I adjusted stop-loss levels and position sizes flexibly, capturing short-term fluctuations to turn the situation from a loss into a profit. Moving forward, if the price of gold continues to rise, I will maintain the long position and adjust the strategy according to market movements, with the target around the 2630 level.
Gold Expected to Rise, Target at 2733A great weekend has come to an end, and last week brought us substantial profits. This week, let’s aim for another strong start!
Gold trading opens in just half an hour. On Friday, the price of gold showed limited movement, slightly different from our expectations, but this is not a concern—the rally is still on track! As of Friday’s close, gold prices hovered around the MA5 level without fully breaking through, suggesting some resistance. However, a broader time frame shows that the overall rebound isn’t over yet. Friday’s movement was merely an initial attempt to test the MA30 resistance, with the major resistance level expected at the MA60.
With this in mind, my strategy this week is to buy gold below 2680. The first target range is 2685-2696, the second target 2706-2712, and the final target 2721-2733. Here’s to another profitable week ahead!
Gold : A Perfect Buy Opportunity Amid Expected Pullback!Yesterday, gold prices surged above 2700, rising $60 from open to close. Following such a significant increase, some pullback is likely in today’s session. However, this does not signal the end of the uptrend but rather a natural price correction. After the pullback, gold is expected to resume its upward momentum, with potential to break above 2730.
Based on this analysis, today’s strategy is to continue buying gold. The ideal buying range is between 2688-2674, with a target set between 2725-2732. This pullback presents an excellent entry point for bullish positions, creating the potential for further profits!
Gold Rebounds to $2700! Post-Trump Rally Shows Signs of PullbackFollowing Trump’s election-driven downturn, gold prices have fully rebounded, climbing back to the $2700 mark. However, after this sharp rise, signs of a potential pullback are becoming apparent. I believe gold is nearing a short-term peak, making this an opportune moment to start selling and capture possible downside moves to lock in profits during the adjustment. Keep an eye on the market and stay flexible to manage the upcoming volatility.
Gold Drops $100! Is Now the Perfect Time for a Pre-Rebound Buy?With Trump’s presidency and his economic focus, gold prices have taken a sharp plunge, dropping nearly $100. While I anticipated a decline, this significant drop exceeded my expectations. Fortunately, we managed to close out our long positions above 2700 and also capitalized on a successful sell-off during the New York session.
Gold has now fallen below 2660 and remains pressured under the MA5 on the 30M chart. However, I believe a strong rebound is imminent. I estimate that gold could reach a solid bottom around 2646, with a possible low near 2631. On the 1D chart, the MA60 sits at approximately 2618, though I believe it’s unlikely to drop that far today.
Today’s plan is to buy on the dip, with an eye on a potential rise to around 2780, after which I’ll shift strategy to selling. By seizing this potential rebound, we stand to capture considerable gains!