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Anchoring Bias in Forex and Gold: Unshackling the Trader's Mind Anchoring bias is a psychological trap that subtly influences decision-making in forex and gold trading. This cognitive bias anchors traders to specific reference points, hindering rational analysis and leading to skewed perceptions. In this article, we'll explore the pervasive impact of anchoring bias in trading, shedding light on its effects and strategies to overcome it. Understanding Anchoring Bias Anchoring bias occurs when traders rely heavily on specific price points, past trends, or perceived market norms as reference anchors for making trading decisions. It influences their perceptions of value and potential market movements, often leading to erroneous assessments. Reliance on Historical Highs: Attachment to Round Numbers: Mitigating Anchoring Bias Overcoming anchoring bias involves deliberate efforts to detach from fixed reference points and embrace a more holistic and analytical approach to trading. Adopting Technical Analysis: Anchoring bias is a subtle yet potent force affecting traders in the forex and gold markets. Recognizing its influence and employing strategies to mitigate its effects is pivotal for making informed and unbiased trading decisions. ⚓️📈✨ Please, like this post and subscribe to our tradingview page!👍
COINBASE:BTCUSDEducation
by EliteTradingSignals
1
Gold Route Map UPDATEHey Everyone, We finish off the week perfectly with the retest at 2003 from the bounce from 1989, as stated yesterday. We will now need a cross and lock above 2003 to confirm the range above. However, a new Goldturn created below 2003 will confirm a rejection. We will now come back Sunday with our multi timeframe analysis, route map and updated trading plans for the coming week Hope you all have a great weekend and we will see you all next week to push for a strong finish to the month!!! Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
6
(Gold) What does the Bullish Future Hold?What does the bullish future hold for gold in the upcoming months? Will Gold just continue to go higher and higher due to inflation or will Gold have 1 last good pullback before we see Gold taking off 🚀 🚀 🚀... Scenario 1: Gold will continue to push higher and test resistance's and supports while having slight pullbacks throughout its run. OR Scenario 2: Is a good size pullback in the near future for Gold, and when it does have the pullback does happen it will create a new buying opportunity for investors to stake up on gold before it explodes in value. (Either Scenario that happens Gold is still extremely bullish and would recommend all investors/traders to buy physical gold to maintain and grow your wealth against Inflation of the US Dollar...)
TVC:GOLDLong
by Popwwe123
5
GOLD SELL ON DIPS !!!HELLO TRADERS !!! As i can see the Gold has reached at strong resistance level and thanks giving + Black Friday ahead and not expected much volume in markets & as we had watch yesterday FOMCE MEETING MINUTES show us that rate hike can be happen once more in 2023 DXY also grap the strong support zone after a free fall from 107.00 area now its time for a retrace so i am expected a fall in Gold and other pairs against USD Its just an trade idea kindly do a proper analysis when u trade on ur real accounts share ur thoughts with us so it will be very helpful for trader community
TVC:GOLDShort
by APEX_TRADING_ACADMEY
1
XAUUSD 2HR Range Analysis Check out my socials for daily analysis and updates for pairs such as XAUUSD & CHFJPY XAUUSD 2HR Range Analysis Following a reversal in the long trend which created the inner channel we have been in recently we have now got a solid rejection from the long term ascending dynamic s&r which validated the overall trend to push for new higher highs, having now been met with a solid resistance line of soldiers at the gates of 2000 the precious metal is struggling to push and break above 2010 with another fractal pivot off this defense line i could see a retreat down to 1970-80 before deciding on the next approach to take.
PEPPERSTONE:XAUUSDShort
by OfficialKieranTrewick
GOLD ROUTE MAP & TRADING PLAN UPDATEHey Everyone, A piptastic day for us once again!!!!! As you can all see, our chart idea played out to perfection in true level to level form. We got the retracement test at 1965, which gave the reactional bounce we expected, following onto hitting our Bullish targets at 1978, 1989 and 2003 in the new range - BOOOOM!!!! We have a gap on this range due to the 1989 weighted level break to 2018 but will need to see ema5 cross and lock above 2003 to further confirm the gap. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 1978 - DONE 1989 - DONE EMA5 CROSS AND LOCK ABOVE 1989 WILL OPEN THE FOLLOWING BULLISH TARGET 2003 - DONE 2018 BEARISH TARGETS 1978 - DONE EMA5 CROSS AND LOCK BELOW 1978 WILL OPEN THE RETRACEMENT RANGE 1965 - DONE EMA5 CROSS AND LOCK BELOW 1965 WILL OPEN THE SWING RANGE SWING RANGE 1935 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
GOLD ROUTE MAP & TRADING PLANS FOR THE WEEK AHEADHey Everyone, Please see our updated 1h chart levels and targets for the coming week. Last week we had a Bullish week, which was a perfect example of how our strategy allowed us to naturally fall into the turn from the prior Bearish week. Our setups work with or against the short/mid term trend. The break and lock allowed us to track the movement down and our weighted levels allowed us to buys dips for 30 to 40 pips, as you can see on the chart. We now have a bullish target at 1989 and a cross of ema5 above 1989 will open the upper range. We have price testing weighted support at 1978 and a cross and lock below this level with ema5 will open the retracement range test at 1965 for a reactional bounce and a break and lock below 1965 will open the swing range for a reaction. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and the catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 1989 EMA5 CROSS AND LOCK ABOVE 1989 WILL OPEN THE FOLLOWING BULLISH TARGET 2003 2018 BEARISH TARGETS 1978 EMA5 CROSS AND LOCK BELOW 1978 WILL OPEN THE RETRACEMENT RANGE 1965 EMA5 CROSS AND LOCK BELOW 1965 WILL OPEN THE SWING RANGE SWING RANGE 1935 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
12
XAUUSD: Channel Up on 4H.Gold is neutral on its 4H technical outlook (RSI = 55.793, MACD = 4.760, ADX = 31.119) as it reached today the bottom HL trendline of the short term Channel Up. So far it is reacting with a bounce and that is a buy signal, aiming at the R1 level (TP = 2,002), as every rise sequence inside the Channel has been around +1.90%. Today's Low was supported on the 0.5 Fibonacci level also, so if it breaks, the bullish trend will be invalidated and we will sell, aiming at the 4H MA200 (TP = 1,950). Despite the presence of support levels such as the 4H MA50 and S1, in that case we expect the decline to be stronger, a very likely scenario indeed since the 4H RSI displays a Bearish Divergence, similar to the Bullish one that gave the buy signal on November 13th. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSD
by InvestingScope
GOLD ROUTE MAP & TRADING PLAN UPDATEHey Everyone, Once again great start to the week with our chart idea playing out as analysed. We got the drop into the highlighted retracement area and as stated yesterday we go the clean reactional bounce over 100 pips so far!!!!!!! 1978 is next stop! We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 1978 1989 EMA5 CROSS AND LOCK ABOVE 1989 WILL OPEN THE FOLLOWING BULLISH TARGET 2003 2018 BEARISH TARGETS 1978 - DONE EMA5 CROSS AND LOCK BELOW 1978 WILL OPEN THE RETRACEMENT RANGE 1965 EMA5 CROSS AND LOCK BELOW 1965 WILL OPEN THE SWING RANGE SWING RANGE 1935 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
8
Gold Idea - XAUUSDOANDA:XAUUSD SAXO:XAUUSD Gold vs US Dollar No comment! ⚠️ Disclaimer: The viewpoints shared represent my individual outlook on the market, based on publicly accessible information and historical data. While a portion of these opinions is influenced by my actual trades, others are not. It's important to note that I am not a financial advisor, and I do not assume any responsibility for the decisions you make in your trading activities. ✅ Feel free to share your inquiries or suggestions in the comments. I am more than willing to assess and analyze any cryptocurrency, forex currency pair, or stock index that piques your interest, so, Please don't hesitate to ask or mention the specific currency chart you'd like me to review.
OANDA:XAUUSDShort
by Arash-RK
GOLD 4H CHART UPDATED LEVELS & TARGETSHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We had a nice Bullish week for Gold last week with our weighted level at 1937 providing good support for the bounce. 1983 resistance is being tested now with a candle body close above 1983 leaving a gap to 1998. However, EMA5 did a turn and failed to lock above confirming the rejection. We are looking for another retest at 1983 and a ema5 cross and lock above 1983 to open the range above. The breaks and locks will allow us to track the movement down and our weighted levels allowed us to buys dips for 30 to 40 pips, as you can see on the chart. We now have a bullish target at 1983 and a cross of ema5 above 1983 will open the upper range. We also have a retracement range at 1966 for a reactional bounce and if we get a cross and lock below this level with ema5 then the swing range will be open for a reactional bounce. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and the catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 1988 EMA5 CROSS AND LOCK ABOVE 1983 WILL OPEN THE FOLLOWING BULLISH TARGET 1998 2017 BEARISH TARGETS - RETRACEMENT RANGE 1966 EMA5 CROSS AND LOCK BELOW 1966 WILL OPEN THE SWING RANGE SWING RANGE 1937 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
FXOPEN:XAUUSD
by Goldviewfx