Gold Nears Key Fibonacci as Fed Rate Cut Odds DipGold is about to test the 38.2% Fibonacci retracement level while Stochastic Signals overbought, as chanced of a 0.25% rate cut at Fed fallen below 59%.
The gold's downtrend is valid as long as the prices are below the %50. Fibonacci.
Article: fxnews.me
Goldtechnicalanalysis
GOLD (XAUUSD) Support & Resistance Analysis For Next Week
Here is my latest structure analysis for Gold for next week.
Support 1: 2546 - 2560 area
Support 2: 2524 - 2530 area
Support 3: 2470 - 2485 area
Support 4: 2432 - 2448 area
Support 5: 2352 - 2381 area
Resistance 1: 2643 - 2659 area
Resistance 2: 2705 - 2733 area
Resistance 3: 2786 - 2790 area
Consider these structures for pullback/breakout trading.
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GOLD (XAUUSD): Updated Support & Resistance Analysis
Here is my updated structure analysis and
important supports & resistances on Gold.
Horizontal Structures
Resistance 1: 2708 - 2732 area
Resistance 2: 2745 - 2761 area
Resistance 3: 2787 - 2790 area
Support 1: 2638 - 2648 area
Support 2: 2586 - 2608 area
Vertical Structures
Vertical Resistance 1: Rising trend line
For now, we can expect a bearish pressure from a Horizontal & Vertical Resistances 1.
Local bearish bias remains.
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Will Gold Trigger a Bullish Wave at the $2670 Resistance?FxNews —The immediate resistance rests at the 61.8% Fibonacci level, $2,670.
From a technical perspective, a new bullish wave could form, targeting the 50% Fibonacci level at $2,690, supported by the bearish fair value gap, if gold prices exceed the immediate resistance.
GOLD (XAUUSD): One More Bullish Wave is Coming?!
Gold is currently stuck within a horizontal range on a daily.
The price is approaching its upper boundary at the moment.
Because the trend is strongly bullish, chances will be high to see
a further bullish continuation.
Your reliable confirmation will be a breakout and a daily candle close
above the underlined resistance.
The next goal for the buyers will be 2780.
Alternatively, the market may continue consolidating and trading within the range.
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GOLD (XAUUSD) The Next Strong Resistance
What a bullish week for Gold,
the market updated the All-Time High multiple times this week
Analyzing the historic price action, here is the next potentially
strong resistance that I see.
It is based on a major rising trend line that the market started
to respect last year.
With a high probability, we will see at least a pullback from that.
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Learn Supply and Demand Zones in Gold Trading
In this article, I will teach you how to identify supply and demand zones on Gold chart easily.
You will learn what are supply and demand zones and how to apply it in Gold trading.
In order to identify supply and demand zones on Gold chart, the first thing that you should do is to execute a complete structure analysis.
You should identify horizontal structures: support and resistance levels/zones; vertical structures - trend lines.
That's how a complete support and resistance analysis should look.
On a daily time frame, I have underlined all significant horizontal and vertical structures.
First, let's look for demand zones.
A demand zone is a specific area on a price chart that combines multiple key structure supports: horizontal or vertical ones.
Buying orders of the market participants will be placed within that entire area.
Our first demand zone will be based on a Horizontal Support 1 and a Vertical Support 1. A trend line and a horizontal support compose an expanding area.
We will call such an area a demand zone, simply because we assume that buying volumes will accumulate within that entire zone. And lower the price will move inside that area, more buying orders will become active.
Our second demand zone will be based on Horizontal Support 3/4/5.
All these structures are lying very close to each other. Some supports even have common boundaries.
These supports will compose a demand zone , a wide horizontal area where buying orders will be placed.
Vertical Support 2 is lying very closely to our Demand Zone 2.
A horizontal demand zone and a trend line will compose and expanding demand zone.
Now let's discuss supply zones.
A supply zone is a specific area on a price chart that combines multiple key structure resistances: horizontal or vertical ones.
Selling orders of the market participants will be placed within that entire area.
There is one supply zone on our Gold price chart. It will be based on a Horizontal Resistance 1 and Vertical Resistance 1.
Both structures are lying very close to each other.
We will assume that selling orders will be placed throughout that entire area and the higher the price moves within that, the more selling orders will become active.
Remember that you can identify Supply and Demand Zones on Gold on any time frame.
A bullish movement and a bullish reaction will be expected from a Demand Zone.
While a bearish movement and a bearish reaction will be expected from a Supply Zone.
Because Supply and Demand Zones are relatively large areas, it is very important to analyze a price action within these zones before you place a trade.
Thank you for reading!
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GOLD (XAUUSD): Important Support & Resistance Levels
Here is my latest structure analysis
and support & resistance levels on Gold for next week.
Vertical Structures
Vertical Support 1: Rising trend line
Vertical Support 2: Rising trend line
Horizontal Structures
Resistance 1: 2685 - 2700 area
Support 1: 2624 - 2633 area
Support 2: 2587 - 2601 area
Support 3: 2525 - 2560 area
Consider these structures for pullback/breakout trading.
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GOLD - one n single area, holds or not??#GOLD... Today is NFP day as you knows and we have only single area as today most important supporting area that is 2653
Keep close that area because only that area can change the story.
Only holding of that area can leads you towards upside further levels.
Keep close it and only short below that otherwide not at all.
Good luck
Trade wisely
What is Structure Mapping in Gold Trading XAUUSD?
Structure mapping is essential for day trading, scalping and swing trading gold.
It is applied for trend analysis, pattern recognition, reversal and trend-following trading.
In this article, I will teach you how to execute structure mapping on Gold chart and how to apply that for making accurate predictions and forecasts.
Take notes and let's get started.
Let's discuss first, what is structure mapping?
With structure mapping, we perceive the price chart as the set of impulse and retracement legs.
Structure mapping can be executed on any time frame and on any financial market.
Look at a Gold chart on a 4H time frame. What I did, I underlined significant price movements.
Each point where every leg of a movement completes will have a specific name and meaning.
On a gold chart, I underlined all such points.
These points are very important because it determines the market trend and show the patterns.
When you execute structure mapping, the first thing that you should start with the identification of a starting point - the initial point of analysis.
On a price chart, such a point should be the highest high that you see or the lowest low.
If you start structure mapping with a high, that high will be called Initial High.
A completion point of a bearish movement from the Initial High will be called Lower Low LL.
A bullish movement that completes BELOW the level of the Initial High or Any Other High will be called Lower High LH.
A bullish movement that completes on the level of the Initial High or Any Other High will be called Equal High.
A bullish movement that completes above the level of the Initial High or Any Other High will be called Higher High HH.
If you start with the low, such point will be called Initial Low.
A completion point of a bullish movement from the Initial Low will be called Higher High HH.
A bearish movement that completes ABOVE the level of the Initial Low or Any Other Low will be called Higher Low HL.
A bearish movement that completes on the level of the Initial Low or Any Other Low will be called Equal Low.
A bearish movement that completes below the level of the Initial Low or Any Other Low will be called Lower Low LL.
Look how I executed structure mapping on Gold chart.
Starting with the lowest low, I underlined all significant price movements and its lows and highs.
You should learn to recognize these points because it is the foundation of gold structure mapping.
Combinations of these points will be applied for the identification of the market trend, trend reversal and patterns.
According to the rules, 2 lower lows and a lower high between them are enough to confirm that the market is trading in a bearish trend.
While 2 higher highs and a higher low between them confirm that the trend is bullish .
In a bullish trend, a bullish violation of the level of the last Higher High will be called a Break of Structure BoS. That event signifies the strength of the buyers and a bullish trend continuation.
A bearish violation of the level of the last Higher Low will be called Change of Character CHoCH . It will mean the violation of a current bullish trend.
In a bearish trend, a bearish violation of the level of the last Lower Low will be called a Break of Structure BoS . It is an important event that signifies the strength of the sellers and a bearish trend continuation.
While a bullish violation of the level of the last lower high will be called Change of Character CHoCH. That even will signify a violation of a bearish trend.
That's how a complete structure mapping should look on Gold chart.
With the identification of the legs of the move, highs and lows, BoS and ChoCh you can clearly understand what is happening with the market.
Gold was trading in a bearish trend. Once the level of our Initial Low was tested, the market started a correctional movement and started to trade in a bullish trend.
Once some important resistance was reached, the market reversed. We saw a confirmed CHoCH and the market returned to a bearish trend.
Structure mapping is the foundation of technical analysis. It is the basis of various trading strategies and trading styles. It is the first thing that you should start your trading education with.
I hope that my guide helped you to understand how to execute structure mapping in Gold trading.
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GOLD (XAUUSD): 2 Important Vertical Resistances
Gold updated the all-time high again this week.
Here are the next potentially strong vertical resistances
to pay close attention on.
Both trend lines are based on a historical price action
and proved its significance by multiple strong bearish reactions to that.
With a high probability, a bearish reaction will follow from
these trend lines in future.
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GOLD (XAUUSD): The Next Strong Resistance Ahead
A sudden violation of the all time high
triggered a strong bullish rally on Gold last week.
Here is the next potentially strong resistance that I see:
it is based on a major rising trend line and 2600 psychological level.
With a high probability, we will see a retracement from that area.
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XAUUSD Daily Chart AnalysisHere's a detailed breakdown of the XAU/USD daily analysis to guide your trading decisions:
Buy Scenario:
Trigger Point: Watch for the daily candle to close above 2519.208. This level is crucial as a close above it signals a potential bullish trend.
Target: Should the buy signal be confirmed, set your target at 2531.800. This target suggests a move of at least 100+ pips, giving you an opportunity to capture significant gains.
Action: If the candle closes above the specified level, consider entering a buy position. Monitor the price closely to adjust your strategy as needed.
Sell Scenario:
Trigger Point: Look for the daily candle to close below 2509.722. This would indicate a bearish shift and signal a potential selling opportunity.
Confirmation: After the close below this level, wait for a Change of Character (CHOC) confirmation to validate the bearish trend. CHOC helps ensure that the market is indeed shifting direction before committing to a sell trade.
Target: If the CHOC confirmation is met, aim for a sell target of 2494.200. This setup provides an opportunity to gain at least 100+ pips.
Action: Once you have the CHOC confirmation, enter the sell trade and monitor the price movement closely. Adjust your stop-loss and take-profit levels to manage risk and maximize returns.
Summary:
Buy if the daily close is above 2519.208 with a target of 2531.800.
Sell if the daily close is below 2509.722 and confirmed by a CHOC, targeting 2494.200.
Keep an eye on these levels and be prepared to act according to market conditions. With these strategies, you can position yourself to potentially capture significant profits. 📊💰
GOLD (XAUUSD): Detailed Support & Resistance Analysis
Here is my latest structure analysis and important
support and resistance levels to pay close attention to on Gold.
Vertical Structures
Vertical Resistance 1: Rising Trend Line
Horizontal Structures
Support 1: 2470 - 2484 area
Support 2: 2431 - 2448 area
Support 3: 2364 - 2381 area
Resistance 1: 2517 - 2532 area
Resistance 2: 2545 - 2552 area
Consider these structures for pullback/breakout trading.
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GOLD (XAUUSD): Strong Bullish Signal During the Asian Session
Gold retested a recently broken daily structure resistance that was based
on a previous all-time high yesterday.
During the Asian session today, the price formed a strong intraday bullish confirmation.
Retesting the underlined blue area the price formed a cup & handle pattern
and violated its neckline.
Now we see a nice bullish movement.
It may continue at least till Powell speech later on today.
I did not manage to trade this setup because I was sleeping when it was formed.
But it is a perfect example of a confirmation trading that I teach you and I hope
that those who trade the Asian session managed to recognize this signal.
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GOLD (XAUUSD): The Next Resistance?!
As Gold updated the ATH on Friday,
here is the next potential resistance on focus.
It is based on a major rising trend line on a daily,
based on 4 important previous highs.
I think that we will see a pullback from that.
I will post the update after its test.
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XAUUSD Sell Oppotunity 2389.00 - 2390.00The pair already structure break and trying to go
for last support level in higher Time frame. the analysis
recommend to open sell order with FVG 2389.00 - 2390.00
with 1:2 RR. 1:1 RR Make sure to book particles of profit
and breakeven.
Waiting for confirmation.
My selling setup. use at your own risk