XAU/USD Shorts from 2,355 or 2,370 back downMy analysis for gold this week aligns with other pairs, where I am expecting bearish moves. Given the recent rise in the dollar, I am looking to join the trend and focus on selling opportunities. I have identified two nearby supply zones on the 6-hour and 12-hour charts as potential entry points.
Once the price reaches these zones, I will look for signs of slowed momentum, distribution, and a change of character (CHOCH). From there, I will target the liquidity pools below, including trendlines and Asian session lows.
Confluences for GOLD sells are as follows:
- Price has been breaking structure to the downside on the higher time frame.
- Price has left clean supply zones on the 6hr and the 12hr.
- Lots of liquidity to the downside that needs taking
- Trade idea is pro trend as price has been forming lower lows and lower highs.
P.S. Currently, the price is at a decent short-term buy position that can be taken up towards the supply zone, provided the confluences are correct. If the price continues to drop, I will look to enter off a new break of structure (BOS).
Goldshort
XAUUSD | Bearish SentimentThe XAU/USD chart is forming a parallel channel and making new higher highs and higher lows according to Dow Theory and pattern analysis. On a higher time frame, the structure of GOLD is bullish. However, on a lower time frame, we can expect a slight downside move to sweep out liquidity before the upside rally begins. Fundamentally, the outlook for gold is bullish.
XAUUSDHello traders ,what do you think about GOLD?Gold is moving in a descending channel and is below the resistance zone. It is expected to fall at least to the specified level after the completion of the correction and breaking of the specified trend line.
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Selling on gold UPON PRICE ACTIONIN view of PRICE ACTION gold is making higher low and lower low
now it has made of new higher low
before making a new lower low it has to retrace first upto previous lower low before BOS
And it retraced to that region
even it retested that region which is in favor of selling gold
XAU/USD Gold short from 2,360 back downThis week, I'm anticipating a bearish drop. I have a clean 12-hour supply zone that has caused a break of structure to the downside. At the start of the week, I expect the price to move towards this zone. If not, we might see a small reaction from the 2-hour zone, leading the price up to the 12-hour supply.
Once the price reaches the 12-hour zone, I'll look for a Wyckoff distribution to form on the lower time frame, then sell the price back down to target the liquidity below, which I have identified as trendline liquidity.
Confluences for GOLD Sellls are as follows:
- Price has been breaking down and confirmed with a BOS on the higher time frame.
- Lots of liquidity below in the form of asia lows and trendline liquidity.
- price is near a good supply zone that has caused a break of structure.
- ATH's was taken and enough liq for price to move back down.
- This trade idea is along the with the current bearish trend.
P.S. If the price breaks this 12-hour supply zone, I will wait for the mitigation of the 2-day supply zone.
GOLD: Medium term bias change. FULL MultitimeframePlease see previous ideas for more context
The biggest update from previous analysis is that we are
becoming more bearish on MTF
Because price didn't hold and didn't develop previous described
reaccumulation, instead we see bearish internal start to
hold itself
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GOLD FALLS MORE last CPI gold made a huge move and remove all seller from the market and move again to the starting point so what we can expect that the market may continue the falling move .currently it is testing the volume area of interest so we wait for a proper breakout then we do sell till lowest level of volume and last target of end of the bearish channel .
Silver and Gold | Short-term and long-term targetsOANDA:XAGUSD
OANDA:XAUUSD
The past two weeks' price action suggests that we can expect the correction to continue in June for Silver and Gold. After last week's NFP and unemployment rates, the expectation for rate cuts has been pushed a bit further to the last quarter of 2024 which fueled dollar to maintain its strength. On the other hand, if you take a look at the seasonality of Gold and Silver you will notice that June is usually the month for Gold to rest a bit and for Silver to show some correction.
So, In the short term, I would like to see lower prices on silver and gold and personally, I might add some more to my positions. The following are the areas for Silver and Gold which I consider as discount prices if as a long-term investor.
Silver: $27.5 - $28 is a good discount area for silver. But it doesn't mean it would definitely reach this area. I expect another rally from July with a target of $33.6 to $36.4 area.
Gold: $2190 - $2230 is the area that I believe gold will see in the near future. Then we might see another leg up on gold to hit the $2580 - $2650 area.
Gold → an update for xauusdhello guys...
gold FXOPEN:XAUUSD is on an ascending channel but after the sharp movement I think it will be on the downward compression for a while!
what do you think?!
if the gray area breaks up it would be bullish again and we can count on it!
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Gold Spot (XAU/USD) AnalysisThe chart provided is of Gold Spot (XAU/USD) against the US Dollar, in a 4-hour timeframe. Here’s a detailed analysis and summary:
1. Trend Analysis:
- The overall trend from early March to mid-May was upward, with gold prices rising steadily.
- Recently, there has been significant volatility, with noticeable peaks and troughs indicating a correction or consolidation phase after the upward trend.
2. Support and Resistance Levels:
- Resistance: The recent high is around 2387.313.
- Support: Multiple levels including:
- 2304.029 (61.8% Fibonacci retracement level).
- 2281.389 (78.6% Fibonacci retracement level).
- 2252.548 (Key horizontal support level).
3. Fibonacci Retracement Levels:
- The chart shows Fibonacci retracement levels calculated from the recent high to the recent low.
- 50% level at 2319.931.
- 61.8% level at 2304.029.
- 78.6% level at 2281.389.
4. Chart Patterns:
- The dotted lines indicate A possible ascending channel, suggesting that the price has been moving within an upward-sloping range.
- Recent price action shows a breakdown from this channel, indicating potential bearish pressure.
5. Current Price Action:
- The price has dropped sharply and is currently around 2306.890.
- It is approaching the 61.8% Fibonacci retracement level, which might act as immediate support.
- If this level breaks, the next significant support is around 2281.389 (78.6% retracement).
6. Moving Averages and Indicators:
- The chart does not explicitly show moving averages or other indicators, but the trend lines and Fibonacci levels provide key insights.
Summary:
The chart of the Gold Spot against the US Dollar shows an overall uptrend that is currently facing a correction or consolidation phase. Key support levels to watch are around the 61.8% Fibonacci retracement level at 2304.029 and the 78.6% retracement level at 2281.389. It might resume its upward trend if the price stabilizes above these levels. However, a break below these supports could indicate further downside risk, with the next major support at 2252.548.
XAUUSDHello traders ,what do you think about GOLD? Gold has hit the resistance zone of 2360 several times and has not been able to cross it. It has also reached the trend line now. It is expected that with a little fluctuation in this zone, the trend line will be broken and after the pullback to it and with the break of the 2280 zone, it will fall at least to the specified level.
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