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Goldsetup

Gold at Key Fibonacci Retracement: Bullish Move Ahead?Gold has retraced to my level of interest, hitting the 0.6-0.7 Fibonacci retracement zone, which aligns perfectly with the trend retest area. The confluence of technical signals here suggests a potential bounce from this level, supported by the Fibonacci levels and the current trend structure. A careful approach will be required as we wait for the price action to confirm a bullish continuation or a deeper retracement. Technical Overview: • Entry Point: Based on a key retracement to the 0.6-0.7 Fibonacci level, indicating a possible bullish reversal. • Trend Retest: The price is interacting with the trendline retest, and maintaining above this level could signal further bullish momentum. • Risk Management: Stop-loss levels are set below the 0.7 Fib level, as this area will be a key invalidation point should price break through. Fundamental Overview: Gold (XAU/USD) continues to rise, recently scaling new highs beyond $2,750 during the European session, driven by a risk-off sentiment due to tensions in the Middle East and ongoing US political uncertainty. This is compounded by expectations of a more accommodative Federal Reserve policy, with potential smaller interest rate cuts after the upcoming US Presidential election. While the rally in the US Dollar is dampening some of Gold’s demand, the broader macroeconomic environment continues to provide bullish support for the precious metal. Moving forward, key drivers for the gold price will include any further escalation of geopolitical tensions, as well as central bank policies related to interest rates and monetary easing. 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.
CAPITALCOM:GOLDLong
by AR33_
2
Gold on the Verge: Eyeing 2,602 for the Next Move!Gold is currently showing signs of weakness on the 30-minute chart, and I have entered a short position based on the technical structure. The market has seen a slight pullback, but the bearish momentum seems to be taking over as it continues to test lower levels. Key Technical Insights: • Entry Price Area: short trade was initiated around 2,621.22. • Stop Loss: The SL is set above the retracement zone, close to 2,629.02 to avoid any sudden upside retracement. • Take Profit (TP): The potential downside target looks like 2,612, though there could be room for price movement lower, towards 2,608 or even 2,6002 depending on momentum. Risk Management: Given the shorter timeframe of the trade, this is a quick trade opportunity with a moderate risk profile. Traders should monitor the trade closely and be prepared to exit if the price action suggests a reversal. As always, if you are in profit, consider taking partials to secure gains and manage risk effectively. Let’s see how this short setup unfolds, and as always, remember to pay yourself when the trade starts moving in your favor! 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.
CAPITALCOM:GOLDShort
by AR33_
XAU/USD 27 August 2024 Intraday AnalysisH4 Analysis: Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024. -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish iBOS. After an iBOS (Internal Break of Structure) we expect a bearish pullback. Price has printed bearish CHoCH which indicates, but not confirms bearish pullback phase initiation Intraday expectation: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bearish. As mentioned in previous analysis whereby we needed to be mindful that H4, following bullish iBOS, has yet to initiate bearish pullback, therefore, it would not be unexpected if strong internal low was to be targeted. This is exactly what price printed, printing a bearish iBOS. Price has printed bullish CHoCH indicating bullish pullback phase initiation. Intraday expectation: Price is in premium of internal 50% EQ with strong high remaining protected. Price to target weak internal low. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
Gold 4hr setup Gold is presently experiencing a bearish trend, characterized by a pattern of lower highs and lower lows since peaking at 2484.14. I anticipate that gold will encounter resistance at the temporary rejection level before declining further. Subsequently, I expect it to rebound and ascend to my target area, which is approximately between 2400 and 2402.02. Confluences supporting this analysis include: A downward trendline indicating a continuation of the bearish trend. An upward trendline suggesting a potential reversal point. A rejection zone between 2400 and 2402.02, which is a significant area of interest. The round number of 2,400, often a psychological level in trading. The 0.618 Fibonacci retracement level Market structure. Expectations of the US Dollar strengthening. Gold Daily Dollar Index Silver
TVC:GOLDShort
by ChartStrategist
2
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 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 test 2390 Goldturn between two weighted level range. We have 2390 Goldturn resistance and 2378 Goldturn support weighted levels. We will see levels within this range tested side by side until one of the weighted levels break to confirm direction for the next range. We will need ema5 to lock above 2390 to confirm the range above. We also have 2378, 2364 and 2355, as the retracement area and will need ema5 lock below this to open the swing 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. EMA5 CROSS AND LOCK ABOVE 2390 WILL OPEN THE FOLLOWING BULLISH TARGET 2403 EMA5 CROSS AND LOCK ABOVE 2403 WILL OPEN THE FOLLOWING BULLISH TARGET 2414 2425 BEARISH TARGETS 2378 EMA5 CROSS AND LOCK BELOW 2378 WILL OPEN THE FOLLOWING BEARISH TARGETS BEARISH TARGETS 2364 2355 EMA5 CROSS AND LOCK BELOW 2355 WILL OPEN THE SWING RANGE SWING RANGE 2333 - 2322 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
OANDA:XAUUSD
by Goldviewfx
19
XAU/USD Intra Day/Week Play - 27/05/2024With gold being at all time highs our analysis on this week's play was carried out on the Daily and 4hr to set a respectable tone to price action and what we anticipate seeing over the coming day(s) / week. On the daily we see that price has finally exhaused itself to complete its upward move to the extreme supply zone of 2,440.372 and has now started to retrace back to key demand levels leaving behind it some imbalances on the daily and 4 hour. Overall the ema's all support a bullish direction to which I believe we will continur but not before tapping into the unmitigated bullish order block at 2,317.065 and then heading upwards to seek out the extreme supply zone levels of 2,432.198 This all supports the inverse corrolation we anticipate happening with the greenback on this week's analysis also which can be seen below. We are aware that CPI and Unemployment claums will greatly impact this technical analysis so it will be interesting to see how this week plays out. Let me know your thoughts on this. Hope you have a great week ahead. Happy Trading. The FX Capital Club.
OANDA:XAUUSD
by FXCapitalClub
GOLD ANALYSISResistance Line: The chart shows a resistance line (marked in the image) that the price has been unable to break through. This resistance level indicates a strong area where selling interest surpasses buying pressure. Traders often pay attention to such levels as they can influence future price movements. Price Channel: Within the chart, there is a defined range where the price has been fluctuating. This range is marked as the “price channel.” Recently, the price broke above this channel and reached near the resistance line (indicated by the orange arrow). However, it faced rejection at that level. Potential Downside: The orange arrow points downward from the recent peak (around 2478.16 USD) to a potential target near 2374.50 USD. This suggests that there might be a decline in price from the current levels.
OANDA:XAUUSDShort
by joestar95
GOLD → Trade Analysis | SELL SetupI have two options here; bullish continuation from here or bearish break.. more chances on continuation! Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GOLD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗
TVC:GOLDShort
by TheGrove
1