Gold Continues to Fall!!!The announcement of a temporary ceasefire between Israel and Lebanon might lead to short-term downward pressure on Gold prices, as it alleviates immediate concerns about regional instability. However, any escalation in tensions or broader economic impacts could reverse this trend.
Gold ( OANDA:XAUUSD ) started to fall after the ascending channel broke with the help of the above news .
Gold is trying to break the Support zone($2,644-$2,625) .
According to the Elliott wave theory , Gold completed the corrective zigzag pattern , and we must wait for the next falling waves .
After breaking the Support zone($2,644-$2,625) , I expect Gold to fall to at least the Next Support zone($2,605-$2,584) .
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
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Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
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Goldprediction
XAUUSDHere is our view and update on XAUUSD . Potential opportunities and what to look out for.
Since our last analysis on XAUUSD , it has followed the second scenario and dropped down to 2640 and now even lower. With this in mind, we now have again two possible scenarios. We are sitting at two important KL’s (Key Levels) and we will be sitting out until we see a clear break. It might look like a mess, but it’s pretty simple.
Scenario 1: BUYS
We broke above 2640 . That would confirm continuation buys and we would have to keep our eye out on our next KL (Key Level) 2660 .
Scenario 2: SELLS
We broke below 2604 , and are now targeting breaks of 2590 and revisits of 2550 .
Personal opition:
The direction for now is unclear until we break our mentioned key levels. Be patient and stay tuned for possible scalps on this pair. Be extremely careful if we revisit 2660.
KEY NOTES
- XAUUSD breaking above 2640 would confirm buys.
- XAUUSD failing to break above 2660 would confirm sells.
- Breaks below 2604 would result in sells, down to 2590 and 2550.
Happy trading!
FxPocket
Benchmarking a trend with a moving average (Example: Gold)They say a bad workman blames his tools.
Quite often, good work means using the right tools.
In a trend you need to use trend-following tools - and the most famous indicator is the moving average.
When it's a fast-moving trend, you need to use averages taken over shorter periods (e.g. 20 day SMA > 200 day SMA). Likewise a slower trend needs averages taken over longer periods (e.g. 20 week > 50 day).
Gold has just bounced off the 20 week moving average for the fourth time. The market is clearly benchmarking this trend according to this specific average.
So while the price is above this moving average the trend is intact - and when it eventually breaks below it will be an important signal that the strength of the trend has weakened - and could be about to reverse.
On the daily chart a rising trendline has broken but we would argue the reason the rebound off the low has been so strong is because the price rebounded off the 20 week moving average.
For now our bias is bullish but there are no good risk:reward opportunities to buy and it remains unclear whether the short term uptrend can continue after the trendline break
GOLD ROUTE MAP UPDATEHey Everyone,
Great start to the week with our chart idea playing out as analysed, allowing us to buy dips using our weighted levels to track the movement down and catch the buys up.
We started with our bearish target at 2703 hit, followed with ema5 cross and lock to open the retracement range.
- This was hit perfectly fand gave the reactional bounce into the highlighted area at 2684. Allowing us to buy dips inline with our plans.
The retracement range was again retested and now broken after no lock above 2684, which followed with a test now into the swing range. We will now patiently wait for a reaction on this range for the bounce or a lock bellow to open the range further down.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2728
EMA5 CROSS AND LOCK ABOVE 2728 WILL OPEN THE FOLLOWING BULLISH TARGET
2743
POTENTIALLY 2759
EMA5 CROSS AND LOCK ABOVE 2759 WILL OPEN THE FOLLOWING BULLISH TARGET
2772
POTENTIALLY 2787
BEARISH TARGETS
2703 - DONE
EMA5 CROSS AND LOCK BELOW 2703 WILL OPEN THE FOLLOWING BEARISH TARGET
2684 - DONE
EMA5 CROSS AND LOCK BELOW 2684 WILL OPEN THE FOLLOWING BEARISH TARGET
2657 - DONE
EMA5 CROSS AND LOCK BELOW 2657 WILL OPEN THE SWING RANGE
2638
SWING RANGE
2638 (DONE) - 2620
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
What are your thoughts on Gold? Possible Rally??Could we see a rally back to Structure break or Area of Interest???
-Price has broken through and retested Bullish Trend line
-Price has broken through Structure Swing Low
- LH Created
Thesis: Wait for price to pull back to 1)Structure break or 2) Area of interest
Notes:
bearish run is rejecting Daily lvl 2558 W/ Massive rejection wick.
1) Rally to Area of Interest would be around 50% prz. (Head & Shoulders R Pattern)
2) Rally to Structure low (MSS) would be a 23.6prz.
GOLD - high placed? What's next??#GOLD.. perfect move and perfect holding in first go of 2710 and now market placed 2720 21 as day high. So far.
Guys according to technical prospective that day high is a reasonable high and if market hold it in that case you can see a further drop towards our downside areas.
Good luck
Trade wisely
Gold is Ready For BullHello Traders
In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET
today Gold analysis 👆
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This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
GOLD Weekly Outlook Nov. 24, 2024Gold has aggressively bought up into now a premium level to finally begin to send price lower. Staying with my initial bias, that we have indeed capped the high of the year for Gold given the fact that it has bought aggressively the entire year and must now form the closing wick for 2024 trading year.
For the upcoming week I'm anticipating rejections out of the imbalances currently above price and the daily order block currently above price. I would love to see Monday range and either Tuesday or Wednesday manipulate that range. Looking at the Economic Calendar I see that the first significant High Impact news event occurs on Wednesday (Unemployment Claims 8:30am, and FOMC Minutes 2:00pm). so I would like to see that day either manipulate or be a continuation day from a Tuesday manipulation. If you have any questions regarding this analysis or outlook, feel free to send me a message here or on my other socials. Thanks.
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We are seeing price play between two weighted levels with a gap above at 2728 and a gap below at 2703. We will need to see ema5 cross and lock on either weighted level to determine the next range.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2728
EMA5 CROSS AND LOCK ABOVE 2728 WILL OPEN THE FOLLOWING BULLISH TARGET
2743
POTENTIALLY 2759
EMA5 CROSS AND LOCK ABOVE 2759 WILL OPEN THE FOLLOWING BULLISH TARGET
2772
POTENTIALLY 2787
BEARISH TARGETS
2703
EMA5 CROSS AND LOCK BELOW 2703 WILL OPEN THE FOLLOWING BEARISH TARGET
2684
EMA5 CROSS AND LOCK BELOW 2684 WILL OPEN THE FOLLOWING BEARISH TARGET
2657
EMA5 CROSS AND LOCK BELOW 2657 WILL OPEN THE SWING RANGE
2638
SWING RANGE
2638 - 2620
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone,
Please see our updated 4h chart levels and targets for the coming week.
We are seeing price lay between two weighted levels with a gap above at 2736 and a gap below at 2694, as weighted Goldturns and will need ema5 cross and lock on either weighted level to determine the next range.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2736
EMA5 CROSS AND LOCK ABOVE 2736 WILL OPEN THE FOLLOWING BULLISH TARGET
2785
EMA5 CROSS AND LOCK ABOVE 2785 WILL OPEN THE FOLLOWING BULLISH TARGET
2821
EMA5 CROSS AND LOCK ABOVE 2821 WILL OPEN THE FOLLOWING BULLISH TARGET
2858
BEARISH TARGETS
2694
EMA5 CROSS AND LOCK BELOW 2694 WILL OPEN THE FOLLOWING BEARISH TARGET
2654
EMA5 CROSS AND LOCK BELOW 2654 WILL OPEN THE FOLLOWING BEARISH TARGET
2611
EMA5 CROSS AND LOCK BELOW 2611 WILL OPEN THE SWING RANGE
SWING RANGE
2565 - 2519
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
GOLD DAILY CHART UPDATEHey Everyone,
Please see our updated daily chart idea that we updated last week.
This chart is playing out perfectly, as we had the support test at 2560 weighted level with no ema5 cross confirming support for the rejection and bounce like we analysed.
This followed with the bullish target gap at 2629 being hit with a cross and lock opening 2686. 2686 was hit perfectly completing this range. We now have candle body close above 2686 leaving a gap above at 2760 but ema5 cross and lock will further confirm this.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up using our smaller timeframe ideas.
Our long term bias is Bullish and therefore we look forward to drops like this, which allows us to continue to use our smaller timeframes to buy dips using our levels and setups.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
XAU/USD Longs from 2695.000 or 2665.000 back up to supplyThis week, my analysis for gold leans toward continued bullish momentum. Over the past week, gold has shown significant bullish behaviour, including a clear change of character to the upside on the higher time frame. My plan is to look for buying opportunities at the nearest valid demand zones, specifically the 55-minute or 13-hour demand zones below the current price level.
Following this corrective move, I anticipate another rally to the upside, potentially mitigating my marked supply zones above, where I’ll evaluate for short-term selling opportunities. However, I’ll reassess as the week progresses. For now, my bias remains firmly bullish on gold.
Confluences for GOLD BUYS:
- Price has broken structure to the upside and continues to display strong bullish momentum.
- Both higher and lower time frame analysis indicate persistent bullish pressure.
- Key demand zones provide excellent retracement levels for potential buy entries.
- Significant upside liquidity remains untapped, acting as potential targets.
- Candlestick patterns highlight robust bullish sentiment.
P.S. With ongoing fundamental news driving gold’s bullish movement, my sentiment will remain bullish unless there’s a clear indication of a trend reversal.
GOLD ROUTE MAP MARKET REVIEWHey Everyone,
A smashing finish to the week with our 1H chart idea playing out to perfection completing all our targets.
After completing targets and updating throughout the week, yesterday we finished with a cross and lock above 2649 leaving a gap target open to 2678.
- This target was hit today completing this chart idea and more .
4H CHART UPDATE
Our 4H chart idea also completed all targets this week, with each level giving us cross and lock confirmation with plenty of time to get in for the action.
We will now come back Sunday with our updated Multi time-frame analysis, Gold route map and trading plans for the week ahead.
Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX