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Goldshort

Gold no more bullish? (XAU/USD)The daily XAU/USD chart reveals a completed Elliott Wave (1-5) structure, with wave (5) peaking near the $2,720 resistance level. This marks a potential reversal zone for gold prices. Expected Corrective ABC Pattern: Wave A: The initial decline is anticipated to target the $2,605-$2,620 support zone. Wave B: A minor retracement is expected to occur, likely staying below the $2,720 resistance level. Wave C: The final wave may extend the decline towards the $2,560-$2,580 lower support zone. Key Levels to Watch: Resistance: $2,720 Support Zones: Middle support: $2,605-$2,620 Lower support: $2,560-$2,580 Trading Strategy: Given the high sensitivity of gold prices to macroeconomic events, traders should exercise caution. Proper position sizing and setting appropriate stop-loss levels are crucial to mitigate potential risks. Monitoring upcoming economic releases and geopolitical developments is essential, as these factors can significantly impact market volatility. Keep an eye on the evolving market conditions and adjust your trading strategy accordingly. Good luck!
TVC:GOLDShort
by me22_
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. Good luck
TVC:GOLDShort
by me22_
Despite the barrier of USD price increase, GOLD still increasesThe latest US weekly macroeconomic data showed 213,000 new unemployment claims, down sharply from the previous week. This further increases the market's expectation that the US Federal Reserve (FED) will further lower interest rates in December. In response to this information, the USD–Index surpassed the 107 point mark, meaning the USD increased in price very strongly, which could have a negative impact on the gold market. However, today's gold price continues to increase. The reason for the Russia-Ukraine military conflict is still tense. Investors look to gold for a safe haven for capital. 🔥 GOLD SELL 2698 - 2700🔥 💵 TP1: 2685 💵 TP2: 2675 💵 TP3: OPEN 🚫 SL: 2708 🔥 GOLD BUY 2673 - 2675🔥 💵 TP1: 2685 💵 TP2: 2695 💵 TP3: OPEN 🚫 SL: 2668
TVC:GOLD
by FalCol_TradingMaster
"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.
OANDA:XAUUSDShort
by bluechipfx
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.
TVC:GOLDShort
by FalCol_TradingMaster