The 10.18 rally is not over yet and the highs will continue to bThe highest intraday rise was around 2714, and the new high was constantly being refreshed. Since the rise on Tuesday this week, the hourly line has basically rarely shown a negative line, and more of it has continued to close positively, and the overall rhythm is strong. After the morning rise, it turned negative and retreated after the afternoon trading. It was only two consecutive negative lines without much room to go down, so the US market continued to be bullish and continued to break highs!
Below we will analyze the real data behind the recent economic data released by the United States, the European interest rate cut, and the impact of various factors such as the "Trump deal" on gold:
First, the data released overnight showed that US retail sales increased by 0.4% month-on-month in September, higher than the expected value of 0.3% and the previous value of 0.1%; the year-on-year growth rate dropped to 1.7%, the lowest level since January. The US Census Bureau made the largest seasonal adjustment to this month's retail data in history. If the seasonal adjustment factor is excluded, retail sales in September actually fell by 7.5% month-on-month.
Therefore, the data does not necessarily indicate an economic recovery. Even if the US dollar and gold have strengthened recently, it is based on risk aversion factors. In addition, some data values released by the United States recently are greater than market expectations, which means that the US economy is not as bad as everyone thinks. However, after excluding some beautiful data, such as: child care is becoming increasingly unaffordable, the system is difficult to operate, high medical costs and energy prices, etc., the market environment still has downside risks.
Secondly, the European economy is under pressure. The central bank has recently cut interest rates, and the euro has continued to fall, boosting the trend of the US dollar; at the same time, the widespread economic weakness also has a risk-averse effect on gold.
Third, as we mentioned earlier, as the US election approaches, traders are gradually pricing in election risks, and there are signs that Harris, who had previously been strong, has been overtaken by Trump. The "Trump deal" has regained its previous popularity, and risky assets have been boosted.
Finally, from the perspective of gold technical patterns:
First, the stronger the market, the shorter the time for retracement correction, the smaller the retracement space, and the fewer times the negative lines appear. Since the price of gold started to rise from 2641 on Tuesday this week, especially from the 4-hour line, there have been callback K-line patterns in the process of continuous pull-up, but they are all single negative, and the entity is very small, and then continue to turn positive and rise; this is the recent trend of the strong pattern of gold prices.
Secondly, from the rhythm of intraday operation, there was a horizontal correction in the morning, and then it rose directly. There were two consecutive negative corrections in the European session. The support near 2702 is the support position of the lower trend line, and it has not even reached the high point of 2696.50 in the US session last night, so don't wait for too low positions in operation.
Thinking planning for the US session:
Due to the strong market trend, there are no excessive corrections and adjustments, and the strong rhythm of the day, the upper space is expected to continue to be released in the evening, so sideways or retracement is an opportunity to go long. The lower support is 2702. Even if it retraces again in the evening, it will continue to rely on this bullish trend. The upper resistance is around 2722 and 2730.
BUY: 2710 Target 2730
Goldprice
XAUUSD 30m Short: Setup with Strong Seller PresenceI’ve initiated a short trade on XAUUSD at this level, observing that price is dropping swiftly. There is significant selling pressure in this price zone, especially on the futures market, which didn’t take out the high. Given the sensitivity of the price action, quick reactions are necessary, as we see how this trade develops from here.
Technical Analysis:
• The price has retraced and rejected from a key resistance zone, where sellers are currently dominant.
• Futures data reveals a strong selling interest at these levels, adding confidence to the short position.
• The trade setup aligns with momentum indicators, suggesting bearish continuation in the short term.
• Price did not clear the recent high in futures, creating a double top structure, which adds confluence for the downside move.
Risk Management:
• Stop Loss (SL): Positioned above the recent highs to minimize risk exposure in case of an unexpected reversal.
• Take Profit (TP): Targeting a reward zone based on the Fib retracement levels, where support could potentially hold. A 2:1 risk-to-reward ratio is maintained, ensuring a balanced approach to this trade.
Conclusion:
This setup requires swift action due to the sensitivity of the price action. We’ll monitor closely for further confirmation from the market. If the downward momentum holds, we expect this to be a profitable trade. Stay mindful of the risk, and adjust if necessary as price action unfolds.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
The fast trading strategy makes a big profit againDear friends, under the guidance of our rapid trading strategy, are you aligning with my recommendations? Many have successfully generated profits, and the bullish momentum remains robust. Following the buy-in range of 2702-2698 has proven fruitful, as the upward trend continues to perform well.
This highlights the advantages of a swift trading strategy. I will continue to share upcoming trading plans, so stay tuned for more updates!
OANDA:XAUUSD
Gold hits new high, but has not yet reached its peakIn the unilateral rise of the 4-hour chart of gold with the middle track of the Bollinger Band as the critical point of the bulls, this forced short-selling slow rise will continue before the high-rise falls back and loses the middle track. The correction indicator sets a new high. The short-term Asian and European sessions are still dominated by low-long intraday, and the US session combines the pattern to reverse after the high. The rise is a setback. The key to high-altitude low-long is the entry point. At present, the rising trend line and the support of the middle track overlap at 2670-2675. It is also the low point of the retracement last night. This position is today's defense point. The Asian session retreats to 2683-2680 and first defends 2672. The target is 2700-2705. After the high, combine the hourly chart pattern to close the bag in time.
From a technical perspective, the overall technical advantage of gold bulls in December is strong in the near future. The next upward price target for bulls is to make its closing price above the important resistance level of $2,750. The next near-term downside price objective for the bears is pushing futures prices below important technical support at the October low of $2,648.90. First resistance is seen at today's all-time high of $2,712.70 and then at $2,725.00. First support is seen at today's low of $2,688.20 and then at Wednesday's low of $2,674.90.
Gold Prices Surge: A Golden Opportunity for Investors
After a week of tug-of-war between bulls and bears, bullish forces have clearly outmatched bearish ones. Currently, after reaching a new high, gold prices have stabilized at the level of 2692.
The ongoing geopolitical tensions show a certain degree of persistence. As a highly sought-after safe-haven asset, the rise in gold prices is merely a matter of time.
After several hours of sideways consolidation, the gold market presents a new trading opportunity. Buying now is akin to picking up money; you just need to bend down.
Recommended buying levels for gold are between 2690 and 2685, with a take profit target above 2703 and a stop loss at 2675.
Investors interested in trading gold may find this information helpful.
XAU ! 10/17 waiting for new ATH 2712XAU / USD trend forecast October 17, 2024
Gold price (XAU/USD) continued its upward trend and retested its all-time high on Wednesday, driven by expectations of rate cuts from major central banks. Markets have fully priced in a 25 basis points cut by the US Federal Reserve in November. Additionally, weak inflation data from Europe and the UK has strengthened expectations for more aggressive rate cuts by the ECB and BoE. This resulted in lower yields, supporting the non-yielding gold.
Strong uptrend - H2 frame forms DOW theory for next new ATH opportunity: 2712
/// SELL XAU : zone 2712-2715
SL: 2720
TP: 50 - 100 - 300 pips (2685)
Safe and profitable trading
GOLD DAILY UPDATESfast track wednesday, last night made 70-80pips almost? then this idea is a sell again. maybe
the manipulation happens tomorrow or friday. to clear only the previous high?
confirm only once 30minutes wicked candle body is below the previous high
, this is just my observation base on distribution, so this thursday we have a new
s. probably the GOLD react for manipulation.
This is not a financial advice. this idea is for distribution.
Follow for more. Daily charts might happen if awake. lol
Thanks for always following me.. trade wisely. trade at your own risk. trade at your own understanding dont just follow, understand it.if this idea suits you then observe the market, ask yourself is this a good trade to take a risk?
Gold is non-predictable price. we anticipate only fast once we know it. take it or leave it.
Gold on the Verge – Breakout to 2,705 or Drop Back to 2,673?Alright, folks, Gold (XAU/USD) is flirting with a breakout. If the bulls push it past 2,705, we could see some real upside momentum. But if it runs out of steam, we might dip back toward the 2,673-2,667 support zone for a reset.
Key Levels:
Resistance: 2,705 – A breakout here could spark a rally higher.
Support: 2,673 – Bulls need to hold this line to avoid more downside.
Fallback Zone: 2,667 – If this level cracks, we’re likely heading lower.
Right now, we’re at a pivotal moment. Will buyers keep the momentum alive, or are we headed for a quick pullback? Keep a close eye on the next move—there’s opportunity on both sides.
What do you think—are we breaking higher or taking a breather? Drop your thoughts, follow, and share if this helped you get prepped for the next move.
Mindbloome trader
Trade what you see
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.
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
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
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!
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.
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.
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
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.
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;
Gold’s Push to 2766—But an $80 Correction May Be Coming!Gold is eyeing key levels at 2719, 2738, and up to 2766, but let’s not ignore the potential for an $80+ correction along the way. I’ll walk you through the key targets and where the market might throw us a curveball.
Join me as we break down the technical and figure out if gold is set to rally or hit a correction. If this analysis helped (or at least gave you something to think about), give it a like, drop your comments below, and hit follow for more updates. Your support keeps the content rolling—unlike gold, which might need a timeout soon!
Mindbloome Trader
Happy Trading
Short-Term Rebound and Conservative Short StrategyAs gold prices approach the market closure phase, technical indicators indicate a bullish momentum in the shorter timeframes. However, the potential upside is limited, anticipated to be around 5-6 points, and may require several hours of consolidation to reach. A significant resistance level exists in the 2670-2673 range, primarily driven by selling pressure from concentrated trading volumes and the appreciation of the US dollar. Currently, the market lacks effective news catalysts for momentum; thus, a conservative trading strategy should focus on short positions at elevated levels. The anticipated target range for this strategy is between 2646 and 2653. Compared to going long, the profit potential from shorting is expected to be more substantial.
OANDA:XAUUSD CAPITALCOM:GOLD COMEX:GC1! COMEX_MINI:MGC1!
SIDEWAY gold! 2627 - 2660 competitive price range⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) pulled back from a one-week high on Monday, ending a two-day winning streak as the US Dollar (USD) strengthened. Investors no longer expect a significant rate cut from the Federal Reserve (Fed) in November, keeping US Treasury yields high and attracting investment away from the non-yielding gold.
Additionally, disappointment over China's fiscal stimulus and weak inflation data over the weekend further dampened investor confidence, weighing on gold prices. However, ongoing geopolitical tensions in the Middle East helped gold find support above the $2,640 level during Tuesday's Asian session, limiting further losses.
⭐️Personal comments NOVA:
The psychology of waiting for November interest rates was clearly shown this week. There is not much news announced, Gold price is sideways in the price range 2627 - 2660
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2636 - $2634 SL $2631 scalping
TP1: $2642
TP2: $2650
TP3: $2655
🔥BUY GOLD zone: $2629 - $2627 SL $2622
TP1: $2635
TP2: $2642
TP3: $2650
🔥SELL GOLD zone: $2660 - $2662 SL $2667
TP1: $2650
TP2: $2640
TP3: $2630
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL 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
Short-term strategy. Short around 2670 to around 2655The 8th day when the signal continues to make accurate profits
Trading strategy for the New York time period on October 15
There is upward pressure on the trend. The news is good for the US dollar.
Short-term trading can make money.
Let's witness the market's decline together.
Gold washes the market, peaks and buys the bottomIn the morning, the price of gold did not continue the rise of last Friday. Instead, it opened lower and fell rapidly, creating the illusion of short-term adjustment, which continued until it stopped falling near $2,643.
After that, the strength of the European session also created the illusion of breaking through the new high. The violent rise directly hit the high of last Friday, $2,660, and then traders began to turn bullish, and even waited for a pullback to go long.
Today, from the perspective of the market, it continues to fluctuate. Today's support is no longer $2,640-36, but the pressure point of last night's high of 2,653 in the early morning. The high point moved down and the low point broke. The large box shock has not ended. It is estimated that it will take a few days. Only when the position of 2,653 is re-established, will we consider intervening in the long position, otherwise the weak shock will continue today.
At present, the high pressure of gold is at the position of 2672 US dollars. The first support point below is at the previous rising position of 2636/37 US dollars, and the second is the top and bottom conversion position of 2624/22 US dollars. It is too early to talk about gold peaking now, but the high box has not ended. Considering the long-term grabbing area is still within the range of 2630/00. The higher the safety margin, the better the mentality of holding positions.
Therefore, today gold will continue to fluctuate downward based on the 2668 long-short dividing point. If it can reach below 2624/22, consider intervening more. Yesterday's continuous decline has already induced today's pullback to long, especially relying on the support position of 2640-36. Break through 2653 and then consider the pullback. For the time being, the callback will remain oscillating downward.