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Goldsells

XAUUSD Gold 4h analysisMoving down from the Daily time frame we can see 2 major levels of support with a minor level of support at 1924. I don't believe price will have much of an issue getting through this price, however time will tell. My overall gameplan will be looking for sells if we can close below 1939 with Price Action telling us in the past that 1900 would be the next logical target. Buys would need to see 1939 reject, follwed by ranging action within this AOI (area of Indecision) and we can then move up after having grabbed liquidity and trapping bears. Time will tell!
OANDA:XAUUSD
by FriesianFX
XAUUSD 4h analysisNow that FOMC and Unemployment claims for the USD is done, we can see price action a lot more clearly. Things to note Daily broke yesterdays high and flipped bearish Weekly created a weekly high and flipped bearish (did not break the previous weeks high however that isn't a major issue) 4h has closed back into our indecision range Few things can happen here Price rejects from this level and continues up Price continues down to our target of 1950-1945 I will not be taking trades within this indecision range, only outside of it and on the lower time frames based on price action of closing candles.
OANDA:XAUUSDShort
by FriesianFX
XAUUSD Daily analysis Looking at the timeframe on a daily basis we can see that we have closed below a key level and into an indecisive range. The reason why indecisive ranges are tricky is down to the fact support/resistance can be anywhere due to the historical price action, there is no clear support/resistance where we can anticipate buys or sells, so treading carefully is the best case of action when trading on a higher timeframe. When it comes to a lower timeframe, unless the indecisive range is found on these smaller timeframes being able to take trades is still possible. Updates to be provided on the lower timeframes.
OANDA:XAUUSD
by FriesianFX
XAUUSD gold 1h breakdownOfficially into London session and into the NY Open 4h candle. We are currently just above an indecisive range where unless we get a high amount of volume, it's best to avoid taking trades as it means we can avoid being faked-out and be stuck in a trade that won't hit our TP or SL until we get a push in volume. ideally, we clear this range and once that's done, we can take sells and expect price to re-test the range, reject it and continue down towards our target. Updates to be posted during the day on here and on Telegram
OANDA:XAUUSD
by FriesianFX
Gold D Short Term Sell Idea 5/21/23The daily (D) has played out to the downside as I thought it would do if it was to break bearish at 50% of the D fair value gap (FVG) zone that it has been playing around in. Price has not hit the previous month low (PML) yet, but it should do that this upcoming week if price decides to continue bearish. As I predict that it will. If price does not continue bearish it will definitely continue bullish to take out/just tap previous month high (PMH) again. For the STRATers, the D has formed a 21 pattern and I anticipate that we will get a 2d to continue bearish at least into the 50% area of the W B FVG zone/breaker.
FOREXCOM:XAUUSDShort
by cecedidit
GOLD - THE BIGGER PICTUREHi team, So far my Gold analysis has been on point over 80% of the time. Chart analysis: On the longer weekly time frame, we are back at the bottom of a large consolidating channel, the support of which has not been broken for almost 18 months. We are almost at the end of a descending correcting channel descending to this major support, the 5th wave of which is almost complete. What to expect? Look for price to reach right back to $1680 and then look for a short term double bottom. If we break this important level, we will see gold drop to multi-year lows. The question though, is this - do recent USD rally decisions hols out in the long term? If not, I expect this safe-haven currency to rise again. Fundamentals: Gold looks to be extending its rebound from the support region of 1680, while the US dollar index is taking a deep breath after a strong rally. The August Nonfarm Payrolls (NFP) and unemployment rate were be released on September. These announcements triggered severe market volatility. The unemployment rate has remained in the region of 3.5%. Investors and traders are particularly focused on wage growth, which is predicted to accelerate from 5.2% YoY to 5.3%. Weak NFP numbers are expected to exert pressure on the USD and strengthen the gold, as investors speculate that the Fed would soon abandon its aggressive stance and begin to ease. THIS is the big point - once the USD rally slows, we should be looking for buying pressure. On the other hand, labour market stability islikely to be affected by ongoing FED decisions, fueling predictions of another 75-point rate rise in September. The technical side of the gold market spells out the fundamental view because gold is on the major decision numbers where heavy volatility can cause massive moves. It is worth noting this is the 5th touch of this support, and historically we see a break on either 5th or 7th touch. The key summary: Gold is at a critical juncture. Significant global inflationary pressures can only be held at bay for so long by current aggressive FED policy - at some point something will have to give. Given the current flightiness of major players, and massive major market instability (think pan-European energy markets), expect an explosive move one way or the other - either we break major support and enter a free-fall, or markets sniff out pending Dollar weakness and rise again. News There are always masses of news events affecting Gold. We should focus on the really big ones - the makers and breakers - at this level. Wednesday 7th September 1230-1435 GMT: Here we will see multiple speeches - Barkin, Mester, Brainard. Expect groundwork to be laid prior to FED Powell speech on Friday. What are we looking for? Signs of USD aggressive policy either slowing or ramping up - the prior indicates buy for gold, the latter a push for a retouch and possible break of major support. Friday 9th September 1230 -1310 This is always the big one. Consensus is expecting job claims to rise a little this month - if higher than expected, FED policy control of the labour market would be undermined, and we could see a bullish run from Gold. Remember that it tends not to be data release, but the presser AFTER the speech that we see most volatility and major movement. So what do I think? I do not see FED Policy aggression to hold out beyond the early medium term at best. Look for Bullish pressure to remain after a possible second retest of 1680, and ride the channel back up to recent daily highs. I will link back to this chart as we see what is going on over the coming weeks. My best advice? Be patient and wait for the market to make a major move - there's plenty of money to be made in either direction once it tells us what it's doing. Like what I do? Please do like, share and comment - I work really hard to provide good, well researched content on here for you. Be kind, trade safe! DrBear
TVC:GOLD
by DrBear
1
Medium Term Setup For XAU/USDHi Traders, I’ve got my eyes on XAU/USD today for potential shorting opportunities, Price created a double top and proceeded to break the neckline, I’ve drawn a trendline from the outer most points of the uptrend and price has persisted to breaking the trendline. We have one more barrier in the way of a potential clean move to the downside. 1841.250 is the current barrier I need taken out before looking to sell this instrument. A strong bearish closure below the key level would spark my interest. I would be looking for price to fill in the wick on the left of the range which would yield a profit target of 87 pips, At that point, I would be satisfied and close 80% of my positions where I could leave the rest to potentially breach 1832.5 and meltdown to 1825.0 for a total risk to reward of 5 to 1. We still playing around in the range of 1850.0 – 1841.250 a closure above 1850.0 could potentially send price to 1865. We will have to wait and see what the day brings, Keep in mind that we have some fundamental elements coming into play later on today (US-GDP) let's remain patient and only strike when we have clear direction and confirmation. Renaldo Philander
OANDA:XAUUSD
by Tradebudz