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Goldsells

XAU/USD shorts from 2,760 or Longs from 2,720This week, my analysis suggests that gold may continue to drop, targeting the trendline liquidity formed below. Once that liquidity is taken out, I anticipate a bullish reaction, potentially around the demand zone I have identified. If the price retraces up to the supply zone, I’ll look for potential sell opportunities to follow this short-term bearish trend. Since my overall bias is bullish, I am more inclined towards long positions due to the higher time frame outlook. However, if the price surpasses any of my nearby Points of Interest (POIs), I’ll watch for a deeper retracement around the demand at 2,680 or the supply at 2,780. Confluences for Gold Sells: - Price has shown a bearish shift on the higher time frame. - Supply zones remain on both the 1-hour and daily charts. - There is significant trendline liquidity below, providing a target for further downside movement. - The dollar has been moving bullishly, which aligns with a potential drop in gold. - Gold has been in a strong bullish trend and may be showing signs of exhaustion, hence the recent heavy decline. P.S. I’ll stay vigilant and assess where the price moves first. If price breaks structure to the downside, I’ll have a stronger inclination to sell. Have a great trading week!
OANDA:XAUUSDShort
by Hassan_fx
Gold's Hourly Chart - M_Top Breach @ 2513.25 - Recovery? Hello, I was saying all week that the USDX was going to be strong in it's recovery from selling off the past few weeks. I didn't think the economic data was all that bad during Friday, I think the damage set-in once the USDX started to rally on the retest and close above 101.50. As the NY session opened on Friday I saw a lot selling of the Gold-price as the USDX was making a sustained rally above 101.50 and then it skipped back under this level and buying of the Gold-price started to occur but it was a bull-trap. The Gold market sold off and as can be seen on the hourly chart a breach below 2513.25 and the selling intensified. It is always harder to navigate in real time, I get it. You can see here on the hourly that the 200 EMA is starting to slope down and the 9 EMA is about to cross it. But it's not all bad. When Asia opens on Monday there is a bullish Head n Shoulders that has formed on a 5 minute chart. (Please see below). Indications are that this will retest and execute taking the market higher. However, for the market to recover, buying will have to continue following this pattern to keep the Gold price above important key moving averages. Otherwise, this 5M pattern will play out bullishly for a time and the Gold price could sell off again. The Gold market got its liquidity during Friday, so lets see where price goes.
EIGHTCAP:XAUUSD
by Easy_Explosive_Trading
How Probabilities Help Me win Trades on GoldAs much as I want to tell you that there is some magic set up that works for me, Unfortunately I cannot because there isn't. The more I look at my own trading over the many years that I've been doing this. It literally boils down to probabilities. What is the probability that X will happen if Y happened. This is literally how I process everything and as you can see it works wonders. In this video breakdown I show you even a new trade LIVE. Admittedly, I wouldn't have taken it because it would have been counter momentum but even GUESSING I could make it work because of probabilities. The reality is that we overcomplicate what we do too much and this is really not needed. K.I.S.S - Keep it stupid simple
OANDA:XAUUSDLong
by Brandon_evo4
Gold 4H Sell Continuation Idea 9/30/23At market close, price has closed below 50% of the 3/13/23 D B FVG, but price is in the top 50% of the 3/17/23 4H B FVG. PLUS price closed with a bearish engulfing on the 8H. Since price is in a downtrend I am looking for price to continue down another 300 pips to the 2023 yearly open. Depending on the type of trader you are I see 3 possible entries from where price currently is: 1. 4H S Fractal If you trade fractals you should already be in this trade. You may see some pull back, but until I see some bullish pressure, I'm looking for price to continue a good 300 pips to the 2023 yearly open 2. 4H B FVG If you are a counter trend trader, you can get a good 140+ pips out of a possible pullback to the 4H S FVG that has been created in the drop before market close Friday 9/29/23. If not stay out and wait for more sell confirmations to get back in the sell 3. 4H S FVG If price does pull back, I'm not looking for more than a good 150 pips into the gap that was created at Friday market close. So from there you can catch the sell continuation down to the 2023 yearly open minimum. The next low is WAY below that. As we know, price does what it wants to do, so be careful and wait on your confirmations. Happy Trading!!
FOREXCOM:XAUUSDShort
by cecedidit
XAUUSD 1H timeframe sellsWith the higher timeframes all being bearish, it would make most sense to be looking for sells, especially on the lower timeframes as we do not want to be fighting the trend unless we look on a smaller timeframe. Should we see price close below our key area of support at 1881.9 then I will look for a retest of this level where we can take a sell-limit and aim for a full TP of 1873. This does not mean we won't take partial profits and move stop loss to break even at 10+ pips as risk management is key! For buys I would need to see structure form on the lower timeframe, but right now with us being stuck in a range on higher timeframes it would be risky unless we aimed to trade within the range however something like this could take hours to play out.
OANDA:XAUUSDShort
by FriesianFX
XAUUSD Gold weekly timeframe breakdownAnother week of more bearish price action. All in all it was a good week for trading with no losses being taken and successful trades (all have been reviewed and broken down here) So with price closing below another key area of support, the expectation is going into the final week and a half of August price should continue down with little to no support remaining. At this point 1860 is the next level where we could see a rejection however given how price action in the past has reacted to this level I wouldn't be surprised if we drive straight down, but I feel that's not as likely as the bull case of tapping that level and moving back up into the 1900's.
OANDA:XAUUSDShort
by FriesianFX
XAUUSD Gold daily breakdownoverall compared to last friday not much has changed on the daily timeframe. We have a weak bullish candle print to close the week off, despite a pump from the news released on Friday price continued to make it's way down and overall the target remains the same as what we saw on the weekly, expecting a liquidity grab at 1870 before price bounces and moves back up. We are currently in the middle of the month so how this goes from here is anyones guess, but most likely we see 1903 at the very least.
OANDA:XAUUSDShort
by FriesianFX
XAUUSD Daily breakdownGold closed below the 1922.62 support level - in the past when price has closed below here we see price tap 1903 With this in mind, the most optimal trade entry would be taking a sell at 1927 - why? because if you look at price action in the past, there is always a tap on that price level as price moves down and we haven't seen that yet. Keep in mind we have CPI news today for the USD so we will have volatility no matter what, we may wait until after news to take trades to be safe.
OANDA:XAUUSDShort
by FriesianFX
XAUUSD Gold daily breakdown - sell biasThursday was one of those days, nothing but ranging which was to be expected given NFP tomorrow and the major moves being earlier this week. To keep this short and sweet - I still expect price top continue down, however, first we need to see a liquidity grab to the upside because we can continue going down. Overall swing bias is sells. Sell sell sell. 1900 remains my target and I have no doubt we will see it, especially with the current strength of the USD and all it takes is NFP numbers tomorrow to be higher than expected and Gold will be a bloodbath.
OANDA:XAUUSDShort
by FriesianFX
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