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GOLD Sells? Despite being a bullish market?Good Morning Folks - So what we wanted to see last week on gold which would be that gold found its directional bias to be bullish again. Yeah, no that didn't occur I Said I wouldn't trust buys until the previous ATH is at least achieved and I stand by that At this time gold is clearly bearish momentum based even though gold itself is a bull market. My question is why? Why would it be bearish in a bull market? My answer? I think there is a lot of liquidity trapped lower that the dealer sees fit to go capture in order to continue his bull move If he could have bought the market you can get your last buck he would have, so we have to assume he can't so who won't I'm monitoring this purple zone here it seems like a break and retest - It also looks like a possible w pattern which would normally signal a reversal to go back bullish but again that doesn't give me a lot of confidence My law says - "Never go against the momentum unless a reversal is clear" - @ekatatrading \ Brandon Abass. So I guess sells are on the table seeing as I don't think that is a likely reversal Don't Boost if you didn't read this entire post and didn't even try to understand OR Boost if you did read this entire post and at least tried to understand Follow me for more breakdowns like this - It's FREE
OANDA:XAUUSDShort
by Brandon_evo4
A GOLD buyers Trap?What's up guys so I've closed my sell but I'm still looking at gold itself and I want to discuss this price action within this green circle here This price action speaks to rejection - it suggests that gold is having more problems moving lower and maybe we should look into buys But I think this in and of itself is a trick being played on us by the dealer - I've seen it before as well Let me explain - There is a question we have to ask here. Why would the dealer simply stop and turn around the market to produce buys right at such a low point. We know that gold is bullish so buyers would really win overall Do you think the dealer wants the buyers to win? I don't think so so what better way to get buyers to lose than to induce them to buy and continue to sell even lower? By no means am I saying we should sell here as there is no confirmation of such but I am saying I feel like this is a trap to buy, makes me not trust it at all Let us monitor
OANDA:XAUUSDShort
by Brandon_evo4
GOLD (XAUUSD): Trading Plan Ahead of NFP 🥇 Today we are expecting the US NFP report. Here are the potential scenarios for Gold. Bearish If the price drops and closes below 1998 key daily structure support, it will be a strong bearish signal and a further decline will be anticipated at least to 1978 Bullish The price formed an inverted head and shoulders formation on a 4H time frame. Bullish breakout of its neckline - 4h candle close above 2041 will give you a strong bullish confirmation. A bullish continuation will be anticipated at least to 2060 level then. Patiently wait for a breakout and then follow the market. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
4
GOLD WILL GO SELL CONFIRM CHARTToday’s Nonfarm Payroll report is expected to show 180k new jobs created in November compared to 150k in October, while the unemployment rate is expected to remain unchanged at 3.9%. A lower-than-expected number will underpin expectations that the Fed will start cutting interest rates at the end of Q1/start of Q2 next year. The latest CME Fed Fund probabilities see a total of 125 basis points of rate cuts in the US next year. Gold Sell Confirm 2010 Target
OANDA:XAUUSDShort
by FxJoseph_7
GOLD SELL CONFIRM ANALYSIS FOR TODAY Gold price (XAU/USD) attracts some buying for the second straight day on Thursday, albeit lacks follow-through and remains confined in a familiar range held over the past three days through the first half of the European session. The fundamental backdrop, meanwhile, seems tilted firmly in favour of bullish traders amid growing acceptance that the Federal Reserve (Fed) is done with its policy tightening campaign and will start cutting rates as early as March 2024. Furthermore, the recent dovish rhetoric from European Central Bank (ECB) officials, along with the Reserve Bank of Australia’s (RBA) and the Bank of Canada's (BoC) decision to hold rates steady, lifted hopes that interest rates have peaked globally. This, in turn, is seen as a key factor acting as a tailwind for the non-yielding yellow metal.
OANDA:XAUUSDShort
by Fx_Jack17
Will gold hit a new record high after NFP? In recent days, gold has seen a remarkable surge, reaching an all-time high of $2070, fueled by growing speculation surrounding the Federal Reserve's potential monetary easing in 2024. This surge coincides with mounting signs of a cooling U.S. labor market, which has captured the attention of traders and investors alike. Traders are currently factoring in a 60% probability of a rate cut by March of the following year, as indicated by CME's FedWatch Tool. This expectation is rooted in the belief that reduced interest rates could make zero-yield gold more appealing compared to alternative assets like bonds and the dollar. This week's Labor Department report added weight to the notion of a shifting labor market, revealing a decline in job openings to 8.73 million in October— the lowest level since March 2021. As these indicators set the stage, all eyes now turn to the upcoming U.S. non-farm payrolls (NFP) data, scheduled for release on December 8. This data holds the potential to be the decisive factor shaping the future trajectory of both gold and silver prices. Traders are now gearing up for the NFP report, anticipating it to confirm the softening of the U.S. employment market. The consensus forecast of +185K jobs added falls below the one-year average, setting the stage for a potential shortfall in job additions. This outcome could further amplify dovish expectations for the Federal Reserve in 2024, potentially paving the way for gold to hit new record highs in the aftermath of the NFP release.
BLACKBULL:XAUUSD
by BlackBull_Markets
GOLD BUY CONFIRM ANALYSIS FOR TODAY The gold market attempted to catch its breath after a phenomenal day of trading yesterday. Registering a 5.42% round trip, the price of gold obliterated the prior swing all-time-high around $2081 only to retrace the move and end the day significantly lower. The RSI surged into overbought territory and has already recovered – highlighting the massive amount of volatility experienced yesterday. Today, however, trading has been more moderate, trading below the $2050 level but the uptrend remains well intact and well above the 200-day simple moving average (SMA).
OANDA:XAUUSDShort
by Fx_Jack17
Let's see how this gold chart plays out over the next six years!Here's a long-term perspective I have not seen and will be interested to follow. I think bias needs to be removed. The bulls will see a potential shot to the MOON. The bears will see a likely hard spill. NEWS FLASH: This is a new and crazy world! EVERYTHING IS IN PLAY! If this gets above $2200 in 2024, it could be the start of something epic. If we see the $1700s in 2024; then (eek) I'm nervous. All I know for sure is I look fwd. to watching this every quarter for the next several years.
TVC:GOLD
by CSGold1
ADP Non-Farm! How does Gold price affect today?⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold is currently stabilizing around $2,020 on Wednesday morning, after experiencing a two-day decline from its record high of $2,144 on Monday. The increase in the value of gold is benefiting from a general retreat of the US Dollar, as buyers of the Greenback pause after its recent upward movement and in anticipation of the release of the significant US ADP Employment Change data. ⭐️ Personal comments NOVA: One of the news that often greatly affects Gold today is ADP Non-Farm. The data supports the downtrend along with an adjustment to rebalance the market. ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $1990 - $1992 SL $1982 TP1: $2000 TP2: $2010 TP3: $2020 🔥SELL GOLD zone: $2049 - $2051 SL $2060 TP1: $2040 TP2: $2032 TP3: $2020 ⭐️ 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
2