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Goldshort

GOLD so far for 2024Hey guys good morning, what is up - happy New Year, I was supposed to produce an analysis yesterday but I had other business to attend to as I have other things I do to make money (let's be honest - it doesn't matter how good of a trader you are, it isn't safe to put all your eggs into THIS basket lol) That being said however I wish you nothing but success for 2024 and beyond. Let us begin the analysis on gold thus far Thus far on the m15 timeframe it seems that gold hasn't had much going on since my last trade mid December I will however say that gold in my opinion is still very much a bullish market - with this in mind however gold ISN'T buying - WHY? Let me explain.. So we know we cannot use the current monthly candle as there are literally 28 days left before that candle closes, anything can happen between now and the YEAR of January lol (for those of you who spent all their profits of last year over Christmas lol) The previous monthly candle however makes sense that it is consolidating because typically after a big push you will get the market go into a state of consolidation to begin the new cycle and by extension new trap Keep in mind however hold is still trading AT and I'd argue above the previous high that would have been broken (see image below) On the weekly timeframe we can see again we cannot yet trust the current weekly candle as it has a little while again before it closes - it does however suggest a bear move - I'd explain why I think this is possible shortly The previous weekly candle also speaks to a possible bear move - the fact that there is a heavy rejection on the previous weekly candle in a bull market doesn't make a lot of sense UNLESS the market CANNOT go up further without come back down for something first - maybe? right? Looking at the daily timeframe we can see that the last day for 2023 closed as a bearish day - why? maybe this is to induce sellers so that sellers can come in and push price lower But why? Why would the dealer want to have sellers become interested? Why would he want the seller to try to push price down? Because I believe there is something down below somewhere and the sell is to get price to achieve that level - that is the ONLY thing that makes sense to me The 4 hour is very interesting because looking at this green zone we can see over to the left there were a lot of sellers interested at that "resistance". They sold and sold until they were eventually stopped out - the buyers then quickly became interested. This makes sense as gold is a bullish market for sure. But then (presently) the buyers that recently became interested were stopped out by this bear push - I think however that gold isn't ready to resume buys yet because it is staying at this lower area a bit to long for my liking. Actually As I am typing this price is consistently pushing lower. The only thing would give me confidence that gold is ready to resume buys is if it heavily rejects the downside and in my opinion it hasn't arrived where the big chunk of liquidity is just yet (see next image) When you observe the 1 hour time frame we can see that there was a bull trend that formed over a few days - this would have surely induced buyers - in a bull market the market wants to buy (duhhh, obviously) but the question you have to ask is - "does the dealer want the buyer to win alongside him?" 11\10 times the answer to that question is a big FAT NO! So it makes sense to induce the buyer to buy then to stop them out by driving price lower back to hit their stop losses. The areas highlighted are where I think the next chunks of liquidity are trapped. We can possibly see price hit one of these areas before resuming the buy. The real question is - "do I think it is worth it to try to sell gold in hopes that it gets to one of these levels?" No, I don't think it is worth it. But not because of the market structure I have outlined here. More so due to the time of the year. I think the market is still pretty volatile from the holidays. I think waiting a few days to see what happens - at least if more momentum comes in first is the better play here. This shows not just I know what I want to see but it shows discipline as well. I am not to eager to find a trade. I prefer the trade to come to me Downvote\don't boost if you didn't take the time to read this entire post and you didn't try to understand OR Upvote\boost if you did take the time to read this entire post and you did try to understand Leave a comment telling me how you feel about the new year so far to let me know that you've read this entire post
OANDA:XAUUSDShort
by Brandon_evo4
Technical analysis shows that GOLD is likely to declineGold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last Saturday, and with the influence of geopolitics, gold prices could be supported. However, with optimistic rate-cut expectations to be adjusted, the overall gold price lacks direction, so it will mainly fluctuate! Looking at the technical chart, the current gold price is still under pressure in the resistance area of 2075-2080, which also indicates that gold prices do not have the momentum to break through that range in the short term. Judging from the 1-hour chart, the MACD golden cross began to widen, so a rebound can be seen at the hourly level. Investors need to watch for resistance near the MA60 around 2073. However, the MACD death cross in the 4-hour chart began to widen. It is estimated that gold has limited room for a rebound during the day. At the same time, the bearish divergence in the daily chart is prominent,so we do not recommend medium-term bullish investors buy gold now. Today, aggressive traders can still buy low and sell high in the range of 2055-2073.
TVC:GOLDShort
by carefulLion07pab
XAUUSD 4HR Analysis + Potential Trade IdeasPositive metals on the fresh weeks year open, with rising oil prices and increasing tensions across the world safe haven assets become more appealing to offsetting investors with our potential short idea invalidated for now i am now waiting for price action to reach 2075-87 before considering an entry for gold Once reaching the designated zone area I will be watching out for key volume exaustion to show potential signs of reversals with other confirmations such as overbought conditions, EMA crossovers, bearish price action and pivot OB creation along with quarter changeovers and key eco events. Then with the correct rejection off the key S+R we could catch some shorts to 2031 - 57 my projected pullback area
PEPPERSTONE:XAUUSDLong
by OfficialKieranTrewick
DOWN adjustment rhythm for UP wave⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Thursday saw an increase in Initial Jobless Claims in the United States, reaching 218,000 for the week ending December 23. This exceeded the market's prediction of 210,000. Continuing Claims also rose to 1.875 million, marking the highest level in four weeks. Additionally, November's Pending Home Sales remained unchanged, failing to meet the market's expectation of a 1% increase. Looking ahead, gold traders will be closely monitoring the release of the Chicago Purchasing Managers' Index for December on Friday. However, given that traders are entering holiday mode as they approach 2024, this data may not prompt immediate action. ⭐️ Personal comments NOVA: After the price reached the 2090 area, it reached a new peak in the last 3 weeks. Prices have been adjusted DOWN to create more liquidity for the market ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2053 - $2055 SL $2045 TP1: $2062 TP2: $2075 TP3: $2090 🔥BUY GOLD zone: $2032 - $2034 SL $2025 TP1: $2042 TP2: $2050 TP3: $2062 Note two more Scalping support zones: 2057 - 2059 and 2046-2047 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
7
Gold Buy Confirm Chart Gold price is finding additional support, as the US Dollar meets fresh supply from a risk-on rally in the Asian stock markets. Investors cheer expectations of aggressive interest rate cuts by the US Federal Reserve (Fed) next year and pile up on global stocks. Further, China’s pledge to promote stable growth by expanding domestic demand combined with the People’s Bank of China’s (PBOC) liquidity injections boost risk appetite at the expense of the US Dollar.
OANDA:XAUUSDShort
by FxJohnson
1