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GOLD continues to PLUMMET - SELLS ACTIVEHey guys what's up Brandon here, Ekatatrading. Today I wish to discuss my sell on GOLD. I sold because 1. Gold is a bearish market and my LAW says to never go against the momentum unless a reversal is clear Reversal wasn't clear, momentum was bearish so sells it was. That being said around the time of me observing the GOLD market it was approaching the previous low, making me question if it was even a reversal off the previous low to begin with. Unlikely. Once I figured that it wasn't likely to reverse I began looking for sells as per my law and low and behold sell is exactly what it did - Thank God as I had lost a trade earlier this week (See Linked Idea). This trade made back pretty much everything I had lost and then some for me which is how I believe you should trade to begin with. My reasons were simple...If the market wanted to buy it had to take out the stop below the macro zone - which means it has to sell in any event right? So long as the market didn't harshly reject that low or maybe even accumulated around that low I'd feel safe to consider sells. Reason being - Why would the dealer stay at a low point for so long only to actually buy the market? Wouldn't he be giving the buyers a ridiculously good opportunity to buy? In my opinion that doesn't make sense from the dealer's perspective and further helped me to better understand what might be going on. Once I found my entry it was just about figuring out where to put my stop loss. I put my stop loss in an area where I think it is so unlikely to be hit because..as much as using a tighter stop is very attractive for your risk reward - it means nothing if you cannot stay in the trade to see that reward in the first place. As I am typing this I am still in the trade - I am about to have lunch and then pretty much relax for the rest of the day as I've cleared my day to get some rest so I can heal. I hope you understood what I was trying to say and it made some sense to you. Have a great rest of your day and an even better weekend - See you guys next week =)
OANDA:XAUUSDShort
by Brandon_evo4
GOLD 4H : Support further decline GOLD New forecast The price of gold has declined and shows more bearish tendency to exceed the moving average of 50, to support expectations for the continuation of the bearish corrective scenario, which aims to test the 1962 level initially, with a reminder that breaking this level will push the price to 1947 as the next negative station. Therefore the downtrend scenario will be remain valid and effective during coming period ,Consistency below 1975 is important for the continuation of the expected decline, as breaching it represents a positive factor that will lead the price to begin recovery attempts and restore the main upward trend again. The expect range trading for tomorrow it will be between resistance line 1975 and support line 1962 until stabilized . Additionally ,Today News will affect the market . support line : 1962 , 1947 resistance line : 1975 , 1987 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OANDA:XAUUSDShort
by Arazmajeed
23
Xauusd:It's the key choice point again Due to the recent hawkish rhetoric of Fed policymakers, everyone hopes that the Fed can achieve its goal of suppressing inflation, so gold prices fell again on Wednesday. Pay attention to the data on U.S. unemployment benefits today Today, gold fell as low as 1945, and the position of 38.2% of the Fibonacci retracement in the upward period from 1810 to 2007 was near 1933. If it did not fall below this data, gold would not be considered a real complete decline. The current trend belongs to a small cyclical decline in a large cyclical pullback. You may have discovered that if you have to wait for a rebound to sell, but gold can't reach the resistance range. Today's entire golden state just happens to be bullish and dare not enter, bearish and dare not chase, coupled with the 4-hour divergence of the indicators RSI and MACD, I still think it is possible to rebound today and then fall. The suppression point of the decline and rebound is near the mid-Bollinger band of the daily cycle 1970 We need to pay attention to the upper resistance point range: 1962-1970 1953-1958 Pay attention to the range of support points below: 1941-1945 1933-1938 When gold reaches the support range for the first time today, you can buy in small batches based on your own funds, set a stop loss, and increase your success rate of profit. In a downtrend, you can sell when you reach the resistance range If you don't know how to trade, join me and let us learn together to improve the success rate
FX:XAUUSDShort
by UnknownUnicorn64583787
💡GOLD: Overwhelmed by the strength of the USDThis morning, the global gold prices extended their drop, as spot gold decreased by 8.8 USD to reach 1,968.7 USD per ounce. Gold futures were last recorded at 1,973.5 USD per ounce, marking a 15.1 USD drop compared to yesterday's morning prices. The resurgence of the USD during the evening trading session on November 7 reduced gold's attractiveness to buyers using different currencies. Investors are eagerly awaiting a series of upcoming speeches by officials from the US Federal Reserve (Fed) this week, with particular anticipation for Fed Chairman Jerome Powell's address scheduled for Wednesday and Thursday.
TVC:GOLDShort
by Stone_Haven
2
Discussing My GOLD LOSS from Yesterday | Still SickHey guys a sick Brandon here - so as promised I am here to discuss why I lost that trade and what I think I missed Interestingly enough I don't think it was something I missed before I took the trade it was after I was already in - most traders forget that ultimately the decision sits with them. You can choose to close your trade at anytime - so long as it doesn't fit your rules and criteria. I chose to ignore what I thought I saw and I paid the price for it. I am not ashamed of losing nor am I ashamed of talking about a loser so I am doing this to let you know that it is okay to take a hit - in fact it is a part of the industry..growing pains if you will. But this IDEA serves to show you that you should be open to discuss when you lose because that is the only thing that really allows you to get better and better. This trade is now in a journal of mine and it will mark a mistake that I don't want to make again. I also will not be trading for the rest of the day as I still am not feeling too well. I don't want to be trading from a place of agitation - trust me it doesn't help you at all.. But I still think gold is bearish for now as I think the sellers still need a win TEMPORARILY Have a good one guys :)
OANDA:XAUUSDShort
by Brandon_evo4
1
Clean traffic downAs Gold heads down lower. We are looking for a clean range of motion to the downside. The Gold candle closed below the 1978.75 area with the candle confirming that there is more volume to the downside. Following this range. It's looking to be clean traffic going all the way down to the low of the candles bearish rejection wick at 1969.77. Price may struggle to break lower than this area but we will need another confirmation on candle close before we can verify anything to be more confident. I will be at a safe entry at the new 30m candle open at 1977.55 doing a safe scalp until 1975. The more aggressive traders can target 1970
FXOPEN:XAUUSDShort
by Trellz_
GOLD CONFIRM ANALYSIS OR PREDICTION FOR TODAY Gold continues to trade near the $2,000 level, lacking solid conviction to break higher. The risk remains tilted to the upside as US yields pull back. However, as fundamental factors still favor the US economy over other economies, the Greenback could see its losses limited, which in turn, would keep XAU/USD at risk of sharp corrections. A lot happened Plenty of economic reports, central bank decisions, and the US official employment report were released. The Bank of Japan (BoJ), the Federal Reserve (Fed) and the Bank of England (BoE) decided in line with expectations, keeping the monetary policy stance unchanged at their respective meetings. GOLD Buy 1986 TP 1993 TP 1999 TP 2005 SL 1978
OANDA:XAUUSDShort
by FxJack17
GOLD needs to defend $1,977 support for a new uptrendGOLD will go down after the previous period of strong war influence. To start a new surge in the nearest future as the war spreads more and more. The US Dollar Index fell to a two-month low of 104.94 while the benchmark 10-year US Treasury yield extended its sell-off, hitting a new five-week high below the key 4.50 level. %. The tapering of the Fed's hawkish bets combined with the US Treasury's cut to refinancing estimates emerged as the main catalysts behind their weakness. Unable to sustain above $2,000 multiple times last week and finding demand at lower levels, Gold prices have formed a potential ascending triangle on the daily chart. The 14-day Relative Strength Index (RSI) is moving lower but remains above 50, maintaining a 'buy the dip' stance on Gold prices. Adding to the optimism about Gold prices, prices trade above all major Simple Moving Averages (SMAs) on the said timeframe. The immediate buffer awaits at uptrend line support at $1,977, below which the November 1 low of $1,970 will be retested. Failure to resist above the latter would target static support at $1,963, paving the way for the psychological $1,950 level.
TVC:GOLDShort
by NicoTradingMaster
Back to the basics for XAUUSD ConsolidationGood day traders, XAUUSD / #Gold has been consolidating for the last 24 months, I don't expect this to change until the USA admits that they are under a recession and I beelive this will only happen in 2025 when they officially go to war with the world's new super power China. We've seen something similar play out in 2002 when America saw that they were going into recession, they went to war to steal from another country in the guise of "Peace". In my opinion the XAUUSD will short sharply before it reaches the $3000 mark per ounce. In my analysis, we have a simple support and resistance analysis that I believe it will respect. Please share your thoughts. Disclaimer NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
OANDA:XAUUSDShort
by Mezzoforte_Privilege
8
GOLD wants to go down.Hello traders , i hope you had a good week , i didnt trade this week because i couldnt tell which direction the market wants to go , Fundamentally speaking the price should be up but technically the price says it wants to go down. despite a negative NFP For US DXY Gold failed to break above the 2000s resistance and currently the price is forming a head and shoulder Pattern. the price also formed a change of character no more higher highs just lower highs for now. if the price breaks below the green support i think we will see it go down to the 1960s. what do you think
EIGHTCAP:XAUUSDShort
by xAB777
2
GOLD 1H : Still support further decline GOLD New forecast The price perfectly fulfills my last idea and we closed our profit at +50 pip . The price of gold continues to move in narrow paths, and therefore, there is no change to our expectations for the downward trend, which depends on stability below 1993, waiting to visit the 1975 and 1962 level as the next main targets. Therefore the downward scenario will be remain valid an effective during coming period , taking into account that breaching 1993 will lead the price to attempt to restore the main upward trend and achieve gains that begin by testing the 2006 level. . The expect range trading for today it will be between resistance line 1993 and support line 1962 until stabilized . Additionally ,Today News will affect the market . support line : 1975 , 1962 resistance line :1993 , 2006 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OANDA:XAUUSDShort
by Arazmajeed
💡GOLDOZ: Signs of decline are forming?Gold had its second consecutive day of price decline after the news Employment Cost Index q/q and CB Consumer Confidence were announced. The H1 gold price push down has broken through the accumulation price range above to go down, but has not created a new low price bottom and broken the latest bottom, so it has not created a downtrend. With the current downward pressure on prices, H1 gold can wait for a rebound to sell. If the price is pushed up to the old peak, it is a sign that H1 gold is stronger again, then you can wait to buy.
TVC:GOLDShort
by Stone_Haven
THE KOG REPORTKOG REPORT: In last week’s KOG Report we said we would like to see how the market opened and how the lower support regions 1975 and below that 1968 would hold up price. Based on these levels holding we suggested opportunities to long the market to firstly attempt the break of the 2000 level and then the target region of 2015. We gave the order region 1950-55, price bullish above, and KOG’s bias of the week level 1970 bullish above with target levels 1999 and 2015 for the week. As you can see, price did hold above with a slight dip lower than 1968 but we stuck with KOG’s daily bias which was shared daily with traders and completed not only the 1999 level, but also numerous level to level gold targets on the way up with 2015 still open! A great week for us on the markets, not just on Gold but the numerous other pairs we trade and share netting a phenomenal pip capture for our traders. So, what can we expect in the week ahead? To start with, with can expect more aggressive price action across the markets so please trade carefully, or, don’t trade at all. Money is also made while sitting and cash in your account is a position in the market. New traders should ideally be watching and practicing, using this time to further educate themselves and develop their strategies. These markets are only after one thing, your money! If you get this wrong, it can go horribly wrong, so levels, entries, exits and your risk model are really important. The chart shows the levels for the week we have highlighted with the key reaction zones we’ll be looking at. We’re still open for last week’s target level at 2015 but a pull back would be ideal. For that reason, if we start with bullish momentum into that resistance level and hold, based on a clean set up, we feel an opportunity to short the market is on the cards, initially into the immediate support 1995-90 and then below that 1975. Our bias remains as bullish above, however, there is a chance there may be some profit taking this week, so expect the unexpected, if that level breaks, we’ll be looking lower into the 1950-55 region to then attempt the long trade. On the flip, if we start the session and week with a move to the downside, we will be looking for immediate resistance levels to hold and take this down into that 1975 region level to level on the short side looking for support levels to hold in order to take this back up into that 2015 level and above that 2022. We’ll use our daily bias and targets as well as the red box strategy together with our trusted Excalibur to guide us. What we don’t want to do here at this point of the market is buy upside when there is potential for this to correct some of this move. So levels are key here! Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold