GOLD: Correction Likely After Impulse RallyThe 4-hour XAU/USD chart shows a completed Elliott Wave (1-5) structure, with wave (5) reaching the $2,655-$2,660 resistance zone, indicating a potential reversal. A corrective ABC pattern is expected:
Wave A: Targeting $2,620-$2,630 (middle support zone).
Wave B: Minor retracement below $2,655.
Wave C: Extending to $2,600-$2,610 (lower support).
As gold prices are highly sensitive to macroeconomic events, traders should use proper position sizing and stop-loss levels to mitigate risks. Keep an eye on upcoming economic releases and geopolitical tensions that might affect market volatility.
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Goldshort
Xauusd Gold price retreats after touching a one-and-half-week top earlier this Wednesday and drops to a fresh daily low, below the $2,630 level heading into the European session. A goodish pickup in the US Treasury bond yields, bolstered by bets for a less aggressive policy easing by the Fed, revives the USD demand and undermines demand for the non-yielding yellow metal.
Gold now buy 2624
Support 2635
Support 2651
Xauusd buy confirm Gold could run into sellers at $2,655 on the road to recovery
The immediate resistance is seen at the $2,630 round number, above which a strong topside barrier aligns at the 50-day Simple Moving Average (SMA) at $2,655.
Gold now buy 2618
Support 2632
Support 2651
Resistance 2602
Resistance 2590
"Looking for a Sell Setup Near Key Supply ZoneGold (XAU/USD) is currently trading at a critical level, and I am anticipating a sell setup near 2624. The zone aligns with a potential short-term resistance level, offering a solid risk-to-reward opportunity.
[* ]Entry: 2624
Stop Loss: 2630 (Above the recent high to avoid premature stop-outs)
Target 1: 2610 (Initial support level where price might react)
Target 2 (Full Target): 2600 (Key round number with historical significance)
This setup is supported by a strong bearish rejection at the supply zone, as indicated on the chart. With geopolitical tensions continuing in the Middle East and the U.S. Federal Reserve's uncertain policy outlook, gold's price is showing signs of exhaustion at higher levels.
Gold/XauUsd falling more to 2519.00!Looking for Impulse down.
Gold holding at H4 FVG. Looks like it will fall more. It's important to have your own rules on RR and adhere to them. This trading idea is intended to assist you and enhance your knowledge. If you have any questions, please ask me in the comments.
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Xauusd buy confirm signal Gold price gains some positive traction but stays below $2,600 early Monday, snapping a six-day losing streak. Russia-Ukraine geopolitical risks benefit the safe-haven metal amid a subdued US Dollar demand. Bets for less aggressive Fed rate cuts and elevated US bond yields cap further gains.
Gold now buy 2583
Support 2593
Support 2603
The US economy is still growing steadily , how about Gold ? Gold prices fell nearly 5% last week, marking the biggest drop in nearly three years. Since its highest peak, gold prices have lost more than 250 USD (about 9%), a notable decrease since the beginning of the month.
The main reason for this price drop is the strengthening USD, making gold - which is traded in USD - more expensive for international investors, leading to reduced demand. In addition, expectations about the US Federal Reserve's (Fed) monetary policy also put great pressure on gold prices.
Technical signals also contributed to this adjustment. The RSI (relative strength index) has dropped sharply from levels above 80, signaling a possible reversal from the previous uptrend.
US economic data shows that the economy is still growing steadily, while inflation appears to be leveling off. This, along with President-elect Donald Trump's upcoming policies, could cause inflation to rise in the coming years. Investors are concerned that the US Federal Reserve (Fed) may have to adjust its plan to reduce interest rates, affecting financial markets.
Fed Chairman Jerome Powell in a recent speech emphasized that the Fed is "in no hurry to lower interest rates". He said the economy is growing strongly, allowing the Fed more time to decide on the appropriate level and speed of interest rate reduction.
Gold - Short Position Based on Downtrend & Fib retracementThe sell entry can be at the 0.318 Fibonacci retracement level at 2683 or the nearby R1 resistance level at 2686, both of which offer potential entry points in the current downtrend. The stop loss is placed at 2750, above the recent lower high (LH), to manage risk effectively. The first take profit (TP1) is set at 2622 as an initial exit point, while the second take profit (TP2) is at 2558 to capture further downside if the trend continues. The chart structure shows a downtrend with a series of lower highs (LH) and lower lows (LL), favoring short positions. This downtrend will only be invalidated if the recent LH is broken, signaling a potential reversal, which would then require a series of higher highs (HH) and higher lows (HL) to confirm a new uptrend. Monitor price action near these levels and adjust as necessary if a trend change occurs.
This time the decline will be more persistentOur website below bet on Trump's election success before the 5th. Obviously, our goal is right. The United States will continue its trade war with China, the US dollar will continue to appreciate, and the decline of gold is inevitable.
It is expected that gold will remain around 2,300 this time. You can click on the website below to follow the market news.
Gold (xauusd): Potential Pullback After Downtrend Breakhello guys!
let's analyze GOLD!
Downtrend Break: The sharp decline suggests a bearish sentiment as gold fails to hold previous support levels around $2,693.
Retest Zone: There is a potential retest zone around $2,678 - $2,693. If the price retraces to this area and faces resistance, it could signal a continuation of the downtrend.
Next Support Target: If the bearish momentum continues, the price may reach a major support area around $2,610 - $2,630 (highlighted in grey), which aligns with a longer-term trendline support.
Continuation Scenarios:
Scenario 1: Price could retrace to the $2,678 - $2,693 area, face resistance, and continue downward toward the support zone.
Scenario 2: If the price breaks above $2,693, the bearish bias may temporarily weaken and move towards higher resistance levels.
Gold and Silver short-term correctionAs I pointed out in the previous post, Silver and Gold are showing a weakness in their price.
The correction in gold is not far from my expectations, it needed some rest after this crazy marathon in 2024 😁. Also, Silver is going into a deeper correction, which makes the silver stackers and long-term investors of this shiny metal excited. So, I would like to see Silver keep going down and reach below $30 while in the same time it would be nice to see gold is reaching below $2580.
Both Silver and Gold might experience this weakness until the end of November. Then, I would like to see another leg up forming until the end of February.
15M bounce recently Gold Silver. Bears moving in. Trend down
I said on Friday I thought a deeper correction in Gold may happen, because, Gold and Silver price both sold-off moderately on Friday but their price closed at the bottom of a tight zone and their price made absolutely zero attempt to return to higher prices. Smart money was not buying and the same theme is happening today.
Crypto, USD$ have been rallying lately together, but Gold is being cutdown, watch out for a huge move down similar to the couple of corrections of around 15% earlier in 2024.
Please take a look at the Daily and Weekly chart.
Gold Analysis: Short Fibonacci ResistanceIn this 1-hour Gold chart (XAU/USD), we observe the price retesting a significant area around the 2687 level after a recent downtrend. Fibonacci retracement levels are applied to gauge potential retracement zones.
Entry Position: A potential short entry can be taken near the 2687 level, where price is facing resistance.
Take-Profit Target: The first profit target could be set around 2664, where the next support lies, aligning with a favorable risk-to-reward ratio.
Stop-Loss: Consider placing the stop-loss above the 0.5 Fibonacci level at 2699 to minimize risk if the price breaks higher.