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Goldshorts

XAU/USD Short ideas from 2,395 or 2,420 back downThis week, my analysis for gold is to continue following the current trend of shorts. We have observed another break of structure, which has left a promising supply zone on the 10-hour chart. As the market opens, I expect the price to start forming a distribution near the current levels, potentially leading to a bearish reaction from the 3-hour supply zone. Alternatively, the price might break through the current zone and rise to the 10-hour supply, which is a more favorable zone to initiate sells. Once the sell positions are triggered, I will look for my next buy opportunity around the 2,330 mark, where a clean daily demand zone is located. Confluences for GOLD Sells: The price broke structure to the downside, indicating a short-term bearish trend. The price has taken out the all-time highs (ATHs) and enough liquidity, which might lead to a downward cascade. There are new supply zones on the 3-hour and 10-hour charts, which are good points of interest (POIs) for selling. There is significant liquidity to the downside that needs to be taken, such as the Asia lows. P.S. Last week, we saw the price react from the 23-hour zone we had marked, indicating a pullback that supports continued selling. Have a great trading week, and don't forget the Non-Farm Payroll (NFP) report coming this Friday!
OANDA:XAUUSDShort
by Hassan_fx
1
XAUUSD Forecast - Short Term SellThe chart shows the 4-hour candlestick pattern for Gold Spot (XAUUSD) against the US Dollar on the OANDA platform, with the current price at approximately $2340.26. Key Observations: 1. Current Price and Recent Movement: - The current price is $2340.26. - The recent price action shows a decline of 1.16%, indicating a short-term bearish trend. 2. Trendline and Support Levels: - There is a clear ascending trendline that has been acting as support since early April. - The price has recently broken below this ascending trendline, suggesting potential further downside. 3. Support and Resistance Levels: - Immediate Resistance: Around $2397.515, where the price has previously encountered resistance. - Immediate Support: At approximately $2279.895, a previous low and potential support level. 4. Possible Scenarios: - Bullish Scenario: - If the price manages to hold above the immediate support at $2279.895 and breaks back above the ascending trendline, it could retest the resistance at $2397.515. - Bearish Scenario: - If the price continues to fall and breaches the support at $2279.895, it could see further declines. 5. Volume and Market Sentiment: - The recent drop below the trendline with a significant decline suggests a bearish sentiment in the market. - Monitoring volume and any potential reversal patterns around support levels will be crucial for determining future price movements. Summary: The 4-hour chart for XAUUSD shows that gold is currently experiencing a bearish trend, having recently broken below a significant ascending trendline. The price is facing immediate resistance at $2397.515 and has support at $2279.895. The breach of the trendline suggests potential further downside unless the price can reclaim this trendline and move higher, targeting the resistance. Traders should watch for a possible rebound at the support level or a continuation of the bearish trend if support fails to hold.
OANDA:XAUUSDShort
by The90sTraderOfficial
xauusdGold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast. Gold trades in a relatively tight range near $2,390 in the second half of the day on Wednesday. In the absence of high-tier data releases, investors keep a close eye on headlines surrounding the Iran-Israel conflict. Gold price (XAU/USD) balances below $2,400 in Wednesday’s European session. The precious metal struggles to recapture new all-time highs around $2,430 as Federal Reserve (Fed) Chair Jerome Powell emphasised maintaining the restrictive policy framework for a longer period. Powell and his colleagues seem to be leaning towards keeping interest rates higher for longer as inflation has remained stubborn and the labor demand remained strong. Gold now buy 2393 tp1 2397 tp2 2401 tp3 2410 tp4 2420 tp5 2430
OANDA:XAUUSDShort
by Mark804
1
GOLD NFP CALL OUT - I don't trade news but it's fun to AnalyzeHey guys what's up Brandon here - So I believe in buys for NFP on GOLD but I will not be trading it as I don't think it makes sense to take that risk. At one point in my tenure as a trader about a year or so ago - Every single NFP I was able to call and get it right and I traded 0\17 NFP events that I got right. It isn't worth it Quick gains can be just as quickly wiped out - Especially on GOLD. That being said I do believe that gold is a bull market still and buys are still very much the name of this game. In light of that I think it makes sense however for gold to drive price down a bit before buying further because if it wanted to buy it would have done so already. I think it doesn't have enough energy to make it's move and it is relying on the fact that everyone is attempting to buy it now to inject liquidity so that it can be taken and used for EVIL lol This is my exact reason for not trading News - What if I am wrong...what if it just sells, what if it just buys? I hate to know that not only I am wrong even though I did my homework but also how easily the spreads can be manipulated at this point. I am sure we all have some horror stories about how you couldn't even close your trade during the news because your broker decided to throw you under the bus. Godspeed to anyone who is attempting to take a trade today for the NFP event - you may get it today but I think sooner or later the market will get you - it always does and you don't want to get got from the market. Let me know what you think and do you agree with my approach? Have a great weekend guys :)
OANDA:XAUUSDLong
by Brandon_evo4
XAUUSD (Gold) Shorts towards 1980.000 and below.For gold, I have two possible scenarios that could play out this week. As we've seen a huge impulsive move to the upside recently, we are now expecting price to drop in order to fill in the imbalances and take out the liquidity that was left below. Currently, it's in a very good daily supply zone that caused a CHOCH to the downside on (may 23rd.) Hence why I am expecting price to distribute and sell off down towards the levels of 1980 and below. As of now, we are looking for imminent sells towards the 8hr demand zone as that's a good zone that could respect the bullish trend in order for price to keep going bullish. So from there, I would be looking for a buy opportunity. However, As we have too much liquidity underneath that 8hr demand zone i.e. engineering liquidity, untouched asia lows and swing lows. We won't be surprised if price pushed further down all the way to 1920.000 or even 1880.000. As we will find a lower time frame confirmation for the sell I would personally take out at 1980 to see if price wants to respect it or violate the demand completely. Scenario (B) is that the daily supply zone that it is currently in will fail and mitigate the extreme (9hr) Supply zone above it in order to then sell off from there towards 1980. To add, there is an untouched Asian high within the current zone so I can see that being taken before price wants to start reversing. Regardless as of now, we are looking for sell opportunities from the current price or the 9hr supply above to target the 1980.000 region, to then ultimately see if price wants to break or respect that POI. My confluences for XAUUSD shorts are as follows: - Price has tapped into a daily supply zone that has caused a change of character to the downside. - Rejection from the POI has started to become visible due to the small consolidation where price has initially entered. - Lots of liquidity to the downside in the form of trendlines, untouched Asian lows and imbalances. - Price has been bullish for quite some time and the impulsive move requires some sort of pullback that I am expecting currently. - Price has also swept lots of liquidity on the higher time frame that was gathered since couple months ago. - Bottom side of the consolidation left around 1952 needs to be swept as well as its just swept the top side of it. P.S. We have to be ADAPTIVE in all scenarios as the more angles we can look at something the more prepared we can be when price makes its decisions. Hence why in this detailed analysis we are looking at more than one way of what XAUUSD forecast might look like.
OANDA:XAUUSDShort
by Hassan_fx
2
Gold (GC11 Futures) Mid Term Analysis - SHORTLast week saw a lot of emotional buying of the market. While some short positions were not viable later in the week, there has now been a clear rejection from: 1) The higher zone mentioned prior: 2) The previous long term weekly H&S pattern mentioned back in August: In terms of current price action, it seems that an inverse H&S pattern is forming on the daily. We can also see that in terms of the RSI - with tweaked values more suited for long term analysis - that the price is EXTREMELY overbought. Note on the chart that historically - when using my specific settings - that there is a high probability for a reversal. In terms of the DXY, TECHNICALLY it is still BULLISH on the daily, and has been simply consolidating for the past few days. Please note this infographic: The probability for a move down for Gold seems more likely. There are two scenarios: 1) A retrace to the first minor zone around 1973.5 - 1967, based on the Fibonacci retracement of the recent daily impulsive move. The bottom point starting from the low of Monday 16th, and the high point being Friday 20th. 2) A retrace to the purple zone, starting at 1940.5, extending down to 1921. This is based on the Fibonacci retracement of the recent weekly wave up: . Scenario 2 seems more like of the two, as it would be a logical place for the final shoulder to form in line with this analysis. There are a variety of ways to approach an entry for this week: 1) Buy PUT options around this price. If you do not have access to this functionality because you are trading CFD's, look into using the broker "Avatrade". They feature short term options spanning a few days, and while they are as powerful as traditional options, it can shield you from some of the short term volatility. 2) Look for a breakout sell below the low of Fridays candle, that being 1983.7 on the Futures. 3) Look for to short the 0.618 retracement of Fridays candle. 4) Look to short near the top of Fridays wick, essentially forming a double top. 5) Wait for a confirmed flip of the 21 / 55 EMA's, and look for a short around a relevant pivot. I will be opting for approach 1, as well as approach 3. Manage your risk accordingly. Just as a final note: Please note, there will be times where losses will be taken, but if you are entering around historical areas of support / resistance, they will be extremely negligible compared to your overall profits. Aim for points, not pips. Also please keep in mind, it is good practice to take profit as a position runs. Taking some profit out after 5 to 10 points is not a bad thing. I hope this analysis will help you for the week ahead. I will be posting more closer to time analysis throughout the week. The majority of my time will be spent either here OR in private chat, so if you have any questions, feel free to ask! Good luck! Disclaimer: This is not financial advice.
COMEX:GC1!Short
by Aaron_K_Trading
XAUUSD gold ready for sellhey guys... As you can see in the picture, we see a bearish structure in gold. Because a character change has occurred and LL is formed, and after that a new LL is formed, which means the structure is broken. which is shown in the picture with the symbol CHOCH and BOS. So we have to look for the right range to sell. The first resistance range is on the way from 1950 to 1955, but in my opinion, gold should gather liquidity behind this range. So, the main drop will not be from this area, or rather, selling in this area is high risk and it is not my choice. In my opinion, the suitable range for sell would be 1965 to 1970, which can drop the price first to 1939 and then to the range of 1902 to 1918. We will see support in these two ranges. Later, we will update this analysis for buy positions. Be careful. you have to see the triggers before opening the positions.
OANDA:XAUUSD
by mahdiomidi