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XAUUSD (Gold) Price Analysis: Potential Downside Breakout📉 XAUUSD (Gold) Price Analysis: Rectangle Formation on D1 Timeframe, Potential Downside Breakout Gold (XAUUSD) is trading within a rectangle formation on the D1 timeframe , which typically signals consolidation before a significant price move. While the price remains range-bound, there’s a high probability of a downside breakout , with critical targets at $2,580 and $2,490 . Here's a detailed analysis of the setup: 🔲 What is a Rectangle Formation? A rectangle formation occurs when the price moves between two horizontal levels, creating a box-like pattern 📊. This shows a period of indecision in the market, where neither buyers nor sellers are in control. A breakout typically happens when the price moves decisively above or below the rectangle. 🔻 Downside Breakout Targets Gold breaking below the rectangle's lower boundary could signal a bearish trend continuation. Here are the critical downside targets to watch: 1. First Target – $2,580 : A downside breakout would likely drop the price to $2,580 , the first central support zone and a logical profit-taking area for short-sellers. 2. Second Target – $2,490 : Should bearish momentum persist, the next target would be $2,490 , a deeper support level where further selling pressure could ease. ⛔ Stop Loss – $2,702 A stop loss at $2,702 is recommended for those considering a short position. This level is just above the upper boundary of the rectangle and would invalidate the downside scenario if breached. 🚀 Upside Breakout Target If gold breaks out above the rectangle, bullish momentum could push prices toward $2,841 . This would signal a strong reversal, and traders should consider this level the next significant resistance zone. 🔍 Factors to Watch Several factors could influence the direction of the breakout: Inflation Data : Higher inflation tends to support gold prices as a hedge, increasing the likelihood of an upside breakout. US Dollar Strength : A stronger dollar could weigh on gold, favoring a downside breakout. Geopolitical Events : Uncertainty in global markets can boost safe-haven demand for gold, potentially triggering an upside move. 🛠 Trading Strategy For traders looking to capitalize on the potential breakout, consider the following: Downside Setup : If gold breaks below the rectangle, short positions with targets at $2,580 and $2,490 may offer solid risk/reward opportunities, with a stop loss at $2,702 . Upside Setup : In the case of an upside breakout, targeting $2,841 could provide a good opportunity but ensure that risk is managed carefully. 💡 Conclusion Gold’s rectangular formation in the D1 timeframe suggests a significant price move is on the horizon. While the likelihood of a downside breakout seems stronger, with targets at $2,580 and $2,490, traders should remain alert to the possibility of an upside breakout towards $2,841. Proper risk management, including a stop loss of $2,702, will be crucial in navigating this market opportunity. 🔔 Stay updated with real-time price action to make the most of this technical setup. Share your opinion in the comments.....
OANDA:XAUUSDShort
by amzadlak
Gold Price Analysis: Symmetrical Triangle Formation Signals $$##📈 Gold Price Analysis: Symmetrical Triangle Formation Signals Potential Breakout Gold trades within a symmetrical triangle formation on the H1 timeframe, and traders are closely monitoring for a potential breakout. This technical pattern, known for its converging trendlines, often signals an impending price breakout, either upward or downward. Here's what to watch for: 🔺 What is a Symmetrical Triangle? A symmetrical triangle is a continuation pattern in which the price forms lower highs and higher lows , creating two converging trendlines 📊. The market's indecision builds tension, often leading to a significant breakout in either direction as the price consolidates. 🚀 Key Breakout Levels for Gold As gold continues to move within this symmetrical triangle, there are two potential breakout scenarios: 📈 Upside Breakout Target – $2,693: If gold breaks out above the upper trendline of the symmetrical triangle, we can expect bullish momentum to push the price toward the $2,693 level. This would indicate a continuation of the upward trend, attracting buyers and potentially setting the stage for further gains. 📉 Downside Breakout Target – $2,614: On the other hand, a break below the lower trendline would signal a bearish move, with the next potential target around $2,614 . This downside breakout would indicate a reversal or pause in the recent bullish trend, likely driving selling pressure. 🔍 Factors to Watch Several factors may influence gold’s price action and the potential breakout direction: 🌍 Geopolitical tensions and market uncertainty drive safe-haven gold demand, potentially pushing prices higher. 💵 US Dollar strength: A stronger dollar could weigh on gold, increasing the likelihood of a downside breakout. 📉 Interest rates and inflation expectations also play a role, as rising rates could limit gold’s appeal as a non-yielding asset. 🛠 Trading Strategy Traders should consider waiting for a clear breakout above or below the symmetrical triangle before entering a position. A decisive move beyond these key levels— $2,693 for an upside breakout or $2,614 for a downside breakout—could offer strong trading opportunities with defined risk levels. 💡 Conclusion The symmetrical triangle formation on the H1 timeframe indicates that gold is on the verge of a significant move. Monitoring key breakout levels, market sentiment, and external factors like the dollar and interest rates will be crucial in navigating this potential opportunity. Whether gold breaks out to the upside or downside, traders should be prepared for a substantial price move towards $2,693 or $2,614. 🔔 Stay updated with the latest prices and market developments to capitalize on this technical pattern.
OANDA:XAUUSD
by amzadlak
XAUUSD 4HR Analysis UpdateFollowing my last few analysis depictions we have seen the bullish momentum surge bounce off the identified level followed by a small correction down to the key psych level of 2500-08 where price was once again met by the dynamic trendline, 50 ema and order block pivot zone along with 25% quarter section all acting as key support pivot levels which helped price respect and keep its bullish momentum in tact, following this I am now looking as my target the next all time high as the upper 2500s primarily between 2550 - 2575 to match the second phase of the 50% quarters section with 75% being on 3000.
BLACKBULL:XAUUSDLong
by OfficialKieranTrewick
2
New all-time high is inGold skyrocketed past $2,140 only a few minutes after the futures market opened. Unfortunately, however, the rally was not sustained, and shiny metal erased nearly all of its gains by the European morning; in fact, at some point, it traded as low as $2,057.89 per troy ounce. While the overnight price action was, once again, pretty impressive (and despite us loving to see gold rising), this situation also makes us worry about the overall market's health. Over the past two months, gold and Bitcoin began to move by leaps, with increasingly more and more people betting on the FED cutting interest rates in the first quarter of 2024; yet, in our opinion, we will not see that, at least not in the first half of next year (unless the FED is forced to cut due to a crashing stock market). As a result, disappointment among investors can lead to volatile repricing across various asset classes, including gold and crypto. Our long-term bullish outlook remains unchanged. But at the same time, we are wary that the potential weakness in the stock market can quickly translate into weakness in gold. Therefore, we are approaching the current period in the markets very carefully. Illustration 1.01 Illustration 1.01 shows the weekly graph of XAUUSD. The yellow arrow indicates a bullish breakout above the previous all-time highs. Illustration 1.02 Illustration 1.02 displays the 1-minute chart of XAUUSD. The yellow arrow indicates a futures market open. Technical analysis Daily = Bullish Weekly = Bullish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of multiple indicators. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDLong
by Tradersweekly
4
GOLD FUTURES, Important FORMATION, Accelerate MASSIVE Breakout!Hello There! Welcome to my new analysis of the GOLD FUTURES. The massive inflation, recession, and supply-chain disruption events that emerged in the past times have increased the investor's fearfulness and accelerated the investor sentiment in regard to a favoring of safe haven investments to hedge against the massive inflation, recession, and supply-chain disruptions events. GOLD has been not only around for several thousands of years and already survived the great depression, the dot-com bubble, and the financial crisis but it has also become more and more popular in terms of an exchange value in a new gold-backed currency system implementation. The signs in the GOLD FUTURES price-action that I have spotted within recent times also point to a major interesting underlying dynamic as the GOLD price-action already had the ability to bounce within the 1620 and 1690 structure supports already forming an important bullish price spike towards the all-time-high direction this is forming a structure from where the GOLD price is now also building a substantial base above the 1920 area. These major open interest developments have created an ABC pattern with A being the pole and now with B forming this is forming the base from where a massive all-time-high breakout has a tremendous possibility to emerge. Furthermore, from the daily timeframe perspective, GOLD FUTURES are forming this substantial descending triangle formation that is likely to be completed with a final breakout above the upper boundary and from there on mark initial targets of 1240.5. From a weekly timeframe perspective, this will also complete the major GOLD base breakout from where GOLD is going to emerge with the wave C extension and activate a minimum target of 2500. In the next times, these are important levels to watch out and especially the final validations are going to have an enormously important effect on the actual price-action determinations to consider for the upcoming times. Remember, that the current dynamics are backed by investors who are looking to hedge against major inflation, recession, and supply-chain disruption events, and in this case an appropriate additional acceleration of the price-action moving at a faster pace will be realized with the necessary gold-backed currency system implementation. Thank you everybody for watching my idea about GOLD. Support from your side is greatly appreciated. VP
COMEX:GC1!
by VincePrince
17
AGI, GOLD-Market GEM, Major EXTENSION Because of THIS Factor!Hello There! Welcome to my new analysis about AGI, a major gold-market gem I recently spotted, and added to my watchlist because of the major underlying factors prevalent here. As I already pointed out the major gold-market gems that are going to emerge with epic growth rates similar to those seen in the gold rushes within the gold market history, the most important part in my analysis and watchlist is to distinguish the diverging gold stock categories. Because the major gold-backed currency-system implementation acceleration is not going to affect all of the gold stocks in the same manner! The implementation of a gold-back currency system is important for three categories of Gold Stocks I detected: 1.) Gold Stocks that will emerge with a massive bullish volatility increase no matter the size of the gold-backed currency system implementation. 2.) Gold Stocks that will emerge with a massive bullish volatility increase when the necessary technology and high-tech are backing the gold-backed currency system implementation. 3.) Gold Stocks that will only emerge with a massive bullish volatility increase when the gold-backed currency system is implemented in a big enough economic field together with the necessary technology and high-tech backing. Now, with distinguishing the major categories of gold stocks within the gold stocks market it is necessary to spot primarily those stocks that have the most potential to move along with the important real-time developments in the actual gold-backed currency-system implementation. Because, when the gold-backed currency-system implementation is moving forward with a simultaneous acceleration of the actual technology and high-tech gold market stocks of all three categories will have a substantial potential to accelerate with heavy bullish volatility growth rates when the economic field of gold-backed currency-system implementation is big enough. Therefore, as I have analyzed AGI the gold stock falls into the first category of gold stocks within the market as the major bullish wave is already established and the underlying factors are supporting this bullish wave expansion. The gold-backed currency-system implementation no matter the size of the economic field is going to accelerate this trend dynamics heavily and the already established trend is going to increase at a minimum of 8x faster pace. AGI is a typical gold stock of category 1 as it is emerging with the underlying technicals as well as gold market backing to emerge with this major price action acceleration. When looking at my chart AGI already completed this massive descending channel formation with a huge upper boundary breakout above which it accelerated and now moved further to mark a major formation structure with the main diamond-continuation-formation that is building up above the breakout areas. Furthermore, AGI already established the main underlying price-action-trend-dynamic with the coherent wave-count that is going to unfold the full potential once the breakout above the upper boundary has emerged as it is seen within my chart. Also highly important here is the fact that AGI already completed the main bullish EMA crossover with the 35-EMA marked in orange crossing above the 65-EMA. Taking all these factors into consideration AGI is on the verge of the most epic breakout development within the whole price-action chart. Especially as it is already rallying this rally will accelerate heavily on the upcoming gold-backed currency-system implementations. The target zone only for this current ongoing trend is as marked within my chart within the 100 level and especially with the further continuation of the gold-backed currency-system trend with the necessary technology high-tech backing there is also potential to move beyond this level. Nonetheless, in this case, it is also highly crucial that not a severe inflation wave shows up within the market or the potential recession accelerates to a major depression because this is going to reverse into a more bearish perspective. Nonetheless, currently, there are more factors determining this historical gold-backed currency trend expansion to emerge and therefore it should be the prevalent considerable scenario. Therefore I am going to keep the gold market gem on my watchlist and adjust to the most determining factors with the changes emerging. In this manner, thank you everybody for watching my analysis of AGI. Support from your side is greatly appreciated. VP
NYSE:AGI
by VincePrince
9
NEM, This High-Potential GOLD-Mine GEM is on My Watchlist!Hello There! Welcome to my new analysis about NEM, the next gold-mine gem I am adding to my current gold-mine gem watchlist. If you like to know the other gold-mine gems I already added to my watchlist please look into the recent ideas I uploaded to my TradingView profile. In today´s time, there are massive transformational events going on within the whole gold market as there are several factors that lead to these transformational events. Firstly, the new gold-backed-currency system implementation. Secondly, the financial market that favors investors' safe heavens assets approved over decades in the past. Thirdly, the necessity to establish a highly functional technology-supportive market that has been already established in the past. The most important part is the accelerated implementation of a gold-backed currency system, no matter the size of the economy, it will have several effects. Firstly, the newly added demand caused by the implementation of a gold-backed currency system is going to increase the activity within gold mines. Secondly, the newly added demand caused by the implementation of a gold-backed currency system is going to determine a previously untapped supply. Thirdly, as a result of the massive demand increase this is going to increase the market-cap of gold-mine gems that I have picked in my watchlist by a multiplying factor. In this case in my analysis, I have detected the most important and worthwhile gems within the whole gold market and gold sector stocks market that can unfold the mentioned potential together with the implementation of a gold-backed currency system and therefore NEM is the next gem on my watchlist. When looking at my chart, NEM is building this gigantic Ascending-Bull-Flag-Formation with the bullish price-action heavily building up within this gigantic Ascending-Bull-Flag-Formation. Now NEM is already trading above the 35-EMA as well as the 65-EMA with the price action supported by the Major Uptrend-Support-Bounce-Cluster-Channel. Furthermore, this whole uptrend price action setup is supported by this massive bullish Ascending-Trend-Line in which the price action already bounced several times increasing the potential for the next consecutive bounce origins. Within the next times, NEM is going to move along with the major disruption transformational developments currently ongoing within the gold market and this means that once the further acceleration steps within the implementation of the gold-backed currency system are moving forward this is going to be the origin of the price action of NEM to emerge with the final breakout above the upper boundary of this gigantic Ascending-Bull-Flag-Formation with the setup to emerge above the upper boundary. From there on NEM is going to accelerate the bullish expansions into the upper dimensions and activate the further steps as they are marked in my chart. Taking all of the factors into consideration now, the next times will be highly determined here. Especially, it will be important that the necessary technology implementation steps are going to be set up appropriately, in the past it has been always evidenced that without the necessary implementation steps, such developments could not reach their full acceleration potential. Therefore, inflation needs to decrease more and an appropriate economic field needs to be built to decrease the inflation because it has to be explicitly said that without inflation and the massive disruptions ongoing, the gold price would have reached a new all-time high already with the rally to continue. In this manner, thank you everybody for watching my analysis of NEM. Support from your side is greatly appreciated. VP
NYSE:NEM
by VincePrince
11
GOLD, This BREAKOUT Will be the Most Price-Driving-Factor!Hello There! Welcome to my new analysis about GOLD on several timeframe perspectives. Since the war economy developments established in the recent year 2022 investors in the market are becoming much more fearful because of recession, inflation, stagflation, supply-chain disruptions and other factors that have changed the whole global financial markets into a market where investors are primarily looking to hedge against further uncertainty factors. Besides, that a implementation of a gold-backed currency-sytem is going to have massive effect not only on the gold-price-action, but also other price-driving-indications. As when considering the price-action GOLD has important lower support-zones in which it already bounced several times especially with the descending-support-level this is a major level from where a bounce is likely if not further supply and bearishness invalidates this level as a support. If a bounce from here on shows up with a implementation of a gold-backed currency-system in an even medium-sized economy this is going to convert the gold price into a pump near the all-time-high region. Then, it will be highly necessary that the gold-price also stays in this area and continues with the necessary momentum. Within the whole bigger global picture GOLD is building a much more momentous formation here as it is still within the Millenial-Cup-Handle-Formation and an initial completion of the local formation will be one step in the bigger picture of the completion of the final MIllenial-Cup-Handle-Formation. It has to be mentioned that the investors who are hedging against major recession, inflation, stagnation, and demand gap developments are holding the open interest here, this could change if a major gold-backed currenc-system implementation should reverse into the other direction. In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated. VP
TVC:GOLD
by VincePrince
10