Gold still bearishGold moving in channel. Last week gold was massively dropped more than 200 pips in a day. Upward movement possibly corrective move. What you guys think?
Goldtradingidea
GOLD ON THE DAILY TIMEFRAMEBased on this market analysis we can expect Gold to continue contracting as it's clearly showing to reject that resistance.
It's also important to note that we are also looking bearish on the monthly timeframe which means since we have two timeframes in sync there's more chances of the market actually dropping.
Gold Jul 21 Rises To New Heights.Expectations of a pause have negatively impacted the dollar in recent weeks, while benefiting metals markets, especially gold, as the interest rate outlook weakens.
Rising interest rates push up the opportunity cost of holding non-yielding assets, reducing the attractiveness of gold as an investment vehicle. But a more stable exchange rate could spur more inflows into the yellow metal.
BUY GOLD zone 1955 - 1957
Stop Loss :
My taget is: 1965-1975
Note: Installing TP SL fully wins the market and is safe in trading
Gold 21/07 Ambition TP 2000$.Gold prices rose in the Asian session on Thursday, hitting their highest in more than two months as weak UK inflation data led many to bet that global interest rates were nearing a peak, while a weaker dollar also helped.
The yellow metal is currently about $15 away from $2,000 a wish.
GOLD zone 1972 - 1975
Stop Loss : 1980
My taget is: 1968-1955
Note: Installing TP SL fully wins the market and is safe in trading
Gold has ushered in a big opportunity, the target is 1920
This is a 4h chart. We can see that gold has reached 2070 twice in the past period of time, but both fell back quickly.
For the first time, it fell to around 1620, where it started an upward trend after a period of shocks. Until recently, it came to 2070 again. After a new high, the shock fell back, and it is now near 2020.
From 1620 to 2070, most of the reason for this is inflation. Although inflation still exists, compared to the past period of time, the economy has begun to recover slowly, and the intensity of interest rate hikes has also slowed down. I believe that in the near future, it will return to normal again, and the DXY will also be 105-109 again .
From the perspective of technical form, the increase of nearly $500, although it has some callbacks in the process of rising, it has not completed a very good backtest in the range of 1810-1910.
In the current daily and weekly patterns, the strength of the bulls has begun to decline. I think this is a precursor to the counterattack of the bears. They are only waiting for a suitable opportunity. The turning point may be when the NFP is announced next month.
This is a bold speculation, but it is not unfounded. In the next transaction, I will try my best to short at the high point, and the target is around 1920!
If you have enough funds to trade gold, or you have prepared enough funds to trade gold, I think, maybe you can try to seize this big opportunity like me! ! !
Share this point of view with my friends, I hope you can make more money and realize your dreams!
XAUUSD: 17/7 Trading StrategyToday's gold analysis: Friday's multi-single strategy, after gold fell to the 1950 position, gave an opportunity to enter the market. Finally, take profit and leave the market at the 1959 position.
Today we need to pay attention to the support position of the 1940 position, while the above needs to pay attention to the breakout of the 1963 position. This wave of rebound and correction last week failed to close at a high level, and returned to the shock below 1960. There was a slight signal of stopping the decline, the upward trend could not be continued, and the short-term turned short again, which was also a correction due to the previous rapid rise. Last Friday, DXY also showed signs of stopping the decline, but the rebound was very small. The main idea for gold this week is to return to the previous sell high and buy low.
Back to the topic, since gold rose to the upper high of 1963 and the low of 1950 on Wednesday, it has been tested back and forth many times, but in the end all failed, and it has never been able to break through. This week is mostly about waiting for a breakthrough to go in a new direction.
Today's strategy:
BUY: 1945-1940
TP1: 1950
TP2: 1955
SELL: 1960-1965
TP1: 1955
TP2: 1950
Gold buyers could see $1900 as a bargainGold futures have fallen nearly 9% since the May high, but there are signs that it is trying to form a base around $1900.Whilst the psychological round number has helped to play a part, it also coincides with a volume cluster in the rally at the beginning of March. We therefore see the potential for a minor bounce at a minimum from current levels whilst prices hold above $1900.
Large speculators remain net-long, although their exposure has been trimmed as prices have fallen. Yet we're not seeing a material pickup in gross-short exposure to indicate a much more bearish outlook from speculators.
Furthermore, softer US inflation data on Friday weighed on the US dollar and helped to support gold - and gold could rise further if we see any weakness in data this week (ISM manufacturing data is out today, challenger jobs and ADP employment on Thursday and of course Nonfarm payroll on Friday).
The highs around $1948 are the initial target for bulls to consider, with the potential for a move towards $2000 if we're treated with a host of weak US data to prompt further calls for the Fed's terminal rate.
A break below $1900 invalidates the near-term bullish bias.
GOLD LAST DROP OF WAVE AConsidering the whole movement, we are currently in a corrective wave which contains three waves(ABC waves). Ending diagonal at the last wave of C and it carries 5 subwaves but we currently at the 4th wave. A breakout of the red trendline will signify more sells to to complete the 5th wave filling the defined gap clearly seen on D1 timeframe.
Gold trading recommendations today
The decline in gold remains, 1930 short!
The current short-term gold has gained support and rebounded, but has the decline changed? not at all! It can be seen from the hourly chart that even though the market took a strong backlash on Friday, the final rebound did not break through the suppression of the long-term moving average, and it was still a bearish decline!
The key pressure now is the long-term moving average suppression position on the hourly chart, which is the 1930 position, and this position will continue to be short directly! Defense is Friday's rebound high of 1938!
Next, there will be a lot of trading opportunities for gold, and I will provide you with more signals, don't miss the opportunity to make money!
XAUUSD: Still short today! 1945 focuses onIf gold rebounds first within the day and sees around 45, it can be shorted, and the target below is around 25-15
Gold started to fall in the early days of the U.S. market yesterday, and the price of gold directly returned to the previous low of around 30. This position will continue to test the short-term support effect of the bulls
However, from the current point of view, the bears continue to fall, and the decline in this form is the energy accumulated after a long period of sideways trading, so the continuity in the later stage is strong, and the possibility of a second dip can basically be ruled out, while the bottom below The support will continue to be maintained at the 30 line, which is also the low point formed temporarily yesterday, and the decline in the US market yesterday directly opened up the daily line pattern completely, and the short- and medium-term moving averages began to suppress, forming a situation that is beneficial to bears. The upper pressure will also be maintained around the position of the short-term moving average at 45, which can also be used as one of the positions for the near-term top-to-bottom transition
XAUUSD: sell high and buy low, look at 1951 in the dayOn the hourly chart, the price of gold may fall below $1,951 in the short term, and is expected to further drop to $1,941, which are the 38.2% Fibonacci retracement and 61.8% Fibonacci retracement of the upward range from $1,925 to $1,968 stalls.
The international gold price fell slightly under the pressure of the rebound of the US dollar, and the short-term view is 1941 US dollars. However, due to the fact that the US market is closed, the market transaction is light. Investors continued to assess the future path of interest rates following hawkish comments from Fed policymakers.
Matt Simpson, senior market analyst at City Index, said: "Gold has spent most of June between $1,935 and $1,970, and with no obvious catalysts emerging, traders are more willing to trade within the range, not entirely. Hope to break out of the range."
Gold prices edged lower last week as traders ramped up bets on a July rate hike after a hawkish Federal Reserve paused after 10 straight rate hikes. Traders are currently pricing in about a 72 percent chance of a rate hike in July, according to the CME's "FedWatch" tool.
Christopher Wong, FX Strategist at OCBC Bank, said: "Historically, gold prices have probably outperformed at the end of a Fed tightening cycle. While the opportunity cost of holding gold has risen, we see lower real yields at some stage. It shouldn't be too long, and that could support gold prices."
Investors are now waiting for Federal Reserve Chairman Powell's testimony before Congress on Wednesday (June 21) and Thursday (June 22) for further clues about the future path of the Fed's interest rate.
Bullish fell back to yesterday's low instead, how to look at theThe market CPI is bullish tonight. It did not continue to rise and break through, but fell back to the low point of yesterday. In fact, it is still in the shock range of 1970-1940. Can we continue to try more today? I think it's worth giving it a try.
So I think:
Bold investors 1952-1950 light positions and long positions
Steady investors participated in the long range from 1942 to 1940
CPI forecast with mixed opinionsRecently, central banks have been instrumental in supporting the value of gold. Their interest in purchasing precious metals has reached new heights, playing a major role in stabilizing gold prices.
Despite this, the US Federal Reserve continues to hold a significant position in the gold market, and many anticipate an increase in gold prices once the current monetary tightening cycle comes to a close.
Gold is currently selling at $196.20, which is the 23.6% Fibonacci retracement level of its most recent daily drop.
This indicates a potential downside risk and suggests that the lows of $1932.00 may be tested monthly in May.
The daily chart reveals that gold is positioned below the bearish 34 and 89 EMAs, with its slope extending below the aforementioned Fibonacci level.
gold trendThe expected targets based on the volume indicator are shown on the chart
Anyway, we expect a downward movement in the gold chart and the expected target with high confidence is around 1830.
GOLDGold prices look set to finish the week higher and yet the move can be described as anything but convincing. The precious metal fluctuated between the $1940-$1970 handles for the majority of the week as continued repricing of rate hike probabilities for the US Federal Reserve weighed on Golds attempted recovery.
OANDA:XAUUSD
1945 or 1985? Where is the destination today?On Friday, the gold and metals markets remained stable and were expected to experience a second week of growth.
This was due to the dollar weakening and predictions that the Federal Reserve would halt its rate hike cycle.
The yellow metal had its highest intraday gain in two weeks on Thursday, reaching the highest end of a trading range seen since mid-May due to an increase in weekly US jobless claims, which further supports the idea of a Fed pause.
In the short term, it is highly likely that the price of gold will reach $1985 as soon as it breaks out of the $1970 price zone. It is recommended to establish a breakout order at this price zone. Furthermore, based on the multi-frame chart, a bullish momentum is still warranted.
A Profitable Gold Trading Signal
There is no completely consistent market, but there are always similar fluctuations. This is the gold 1H chart. In the picture, I marked 4 M patterns. No. 3 is similar to No. 1, and No. 4 will be similar to No. 2.
In order to form the No. 4 pattern, tomorrow's data needs to be beneficial to the bulls. Only in this way can gold have a chance to return to around 2000 again.
If tomorrow's data is negative for gold, 1928-1886 is the target!
Several important intervals at present: 1991-2003, 1981-1985, 1963-1971, 1937-1928, 1900-1996
From the shape, today's transaction is more conducive to long, resistance 1985-1991.
Gold - Selling pressure is weighing on sentimentOn Monday, there was a slight dip in the price of gold due to uncertainty surrounding the Federal Reserve's decision on its benchmark later this month.
This drop followed the release of stronger-than-expected Nonfarm data for May, which suggests a more hawkish outlook for the Fed and could lead to higher interest rates for longer.
As a result, non-yielding assets like gold may perform well in this scenario.
dditionally, the recent passing of a bill to raise the debt ceiling has increased investor risk appetite, leading some to move away from safe-haven assets like gold.
Looking ahead, it appears that gold may revisit the price range of $1965-$1970, with $1940-$1935 serving as a strong support area.
However, if this support zone is breached, a Sell fomo order may be activated, potentially leading to a price drop to $1900 in a short period of time.
GOLD - Many signs support the uptrendRecent data indicates that China's economic recovery, as well as manufacturing activity in the US and Euro Area, is slowing down.
As a result, industrial metal prices have been affected, with copper dropping to a seven-month low in May. The demand for copper is expected to be limited due to fears of a global recession this year.
Currently, gold is attempting to correct itself to the $1984 price zone. Investors are keeping an eye on ADP's performance, which may push gold to this price range.
However, if the price returns to the 1950-1945 zone first, I will set up a buy order here
At the moment, all signals are in favor of gold's uptrend
Gold 15m TF I anticipate a favorable market response to occur within the price of 2031.08 to 2033.55, and there appear to be several potential opportunities to sell based on the following confluences: Moving Average, Reversal point, Decline Trend line, Incline Trend line, 0.618 bearish fib and Structure.
Currently, Gold has experienced an increase of 1.6%, indicating the need for a pullback before it can make further upward movements. Gold miners have only seen a marginal increase of 0.06%. As such, I am anticipating a reversal in gold's performance within my area of interest.
Gold Weekly TF Gold's recent decline has brought it back within the established trading range. To confirm that this is merely a temporary break and subsequent retest of the range, it would be necessary for gold to close above the level of 1960.
It should be noted that while an increase in the US debt limit alone may not directly trigger a rise in the price of gold, certain accompanying factors such as concerns about the country's fiscal health, economic instability, or a loss of confidence in the US dollar can make gold a more appealing investment. In such situations, investors may allocate more funds into gold, driving up its demand and potentially increasing its price.
However, it's important to recognize that the price of gold is influenced by a multitude of factors, including global economic conditions, geopolitical events, interest rates, inflation, and investor sentiment. Consequently, while the US debt limit can be a relevant factor to consider, it is not the sole determinant of gold's price. Other factors and market dynamics play significant roles in shaping the value of this precious metal.
Gold price action @ 1D time frameBased on recent technical analysis, it appears that gold prices are still moving within a stable range between support and resistance lines. However, there are some indications of potential increases in the near future.
At the 2-hour time frame, a harmonic pattern is showing consolidation that aims to reach a high of $2047 USD. This indicates that there may be a significant increase in price prior to any potential drops to a new bottom price.
Furthermore, the Elliott Wave analysis suggests that we can expect a significant increase in the 5th wave before the gold price falls to a new low. As such, it is important to keep a close eye on volume movements, which can provide early indications of potential sudden increases.
Based on this analysis, it is recommended that traders consider an entrance point within the consolidation area, with a stop loss positioned below the support line. A take profit level could be placed at the previous price peak or the target indicated by the harmonic pattern.
It is important to note that these levels are subject to adjusting as the market continues to fluctuate. Therefore, it is advisable to closely monitor the market and adjust trades accordingly.
