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Goldusd

ABC Flat IT IS !!In my previous OANDA:XAUUSD analysis, I talked about the upcoming correction waves and traded the Wave A of correction myself. Later on, for the past 2 weeks, the Price action on Gold was messy with no clear indication so I have been waiting for the Wave B to complete since then. Now it seems, the Wave B is near completion, maybe by tomorrow. The Upward 5 Wave Move of Wave C will start soon which I intend on trading. The wave structure so for on Gold is shown in the chart. Currently we are in the last sub wave of our Wave B which is Ending Diagonals . Once its finished, the Bullish Move of Wave C will start.
OANDA:XAUUSDLong
by syedhamza2135
Gold Long UpdateThis is my final update to the long trade on Gold I have been tracking. We got the bounce exactly from 0.886 as indicated in my previous post and we got an approx. 1.7% move but it failed to go any further. Although the setup is successful as we have already got 2+ % bounce earlier from it and we were expecting the type 2 bounce form the harmonic would give us a better bounce, but it turned out to be a dud. So Now I am looking at price action as indicated in through the sketch. If it fails to breach and sustain above the turquoise line, we will go down along the path. Keep in mind this long was always meant to be a scalp as the trend is down and this setup was part of larger short setup, I gave from 2052 early last month. I will keep an eye on any new longs possible along the downtrend and will post it. Most likely My next long setup would be when we will hit the purple line at the bottom of the chart which is multiyear S/R trend line. Please boost and follow me here to get notified about my pre planned setups.
OANDA:XAUUSDLong
by zakoraio
Gold Prediction (Short Version 5/29/2023)Hello Traders There are several factors that can affect the gold price this week, actually NFP and unemployment data are necessary for future FED decisions and gold of course. So without overthinking about what will happen, let's focus on present market price action. Gold Price is moving inside of descending channel and forming a bearish 5-wave impulse Elliot wave. if fundamental views haven't changed, We are expecting the price to correct itself and then continue its way downward. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
OANDA:XAUUSD
by FortunaInvestments
This Week Bullish CorrectionWith the recent Ending Diagonals on OANDA:XAUUSD as shown in the chart below, Gold is currently starting the Correction of Wave A/1 of downward movement which started in the first week of May. On Various brokers, the price went beyond making new ATH almost a month ago. But in my opinion, that was just SL hunting done by whales to squeeze out the retail short positions before moving the market downward. I personally expected that and managed my trade accordingly for it. So far, this whole month has been in the 5 Wave downward move and still it just finished last week as shown in the chart. This Week , the price of Gold is expected to rise since the downward impulse is over with our Wave 5 as shown. I will personally be keeping a close eye on the Correction of this 12345 Impulse to see rather it will be considered as Wave A Correction or Wave 1 Impulse of bigger downward movement . As shown in my previous analysis of Gold on Weekly Timeframe, there is still a big possibility that we are in the start of a Bear Market on Gold and I am planning my Gold Trades while keeping that scenario in mind.
OANDA:XAUUSDLong
by syedhamza2135
Gold Trading ideaWhile there is no one-size-fits-all trading strategy for gold, here are a few popular approaches that traders often consider when trading gold: Trend Following: This strategy involves identifying and trading in the direction of the prevailing trend in gold prices. Traders may use technical analysis tools, such as moving averages or trend lines, to identify trends and enter trades in the direction of the trend. The goal is to capture profits as long as the trend remains intact. Breakout Trading: Breakout trading involves identifying key levels of support or resistance on the price chart and entering trades when the price breaks above or below these levels. Breakouts can indicate potential shifts in market sentiment and the beginning of new trends. Traders may use indicators like Bollinger Bands or volatility-based indicators to identify periods of consolidation and anticipate breakouts. Range Trading: Range trading involves identifying price ranges or support and resistance levels within which gold prices have been trading. Traders look for opportunities to buy near support and sell near resistance, taking advantage of price oscillations within the established range. Range trading can be effective in sideways or consolidating markets. Fundamental Analysis: Fundamental analysis involves monitoring and analyzing economic indicators, geopolitical events, central bank policies, and other factors that can influence gold prices. Traders employing this strategy focus on understanding the underlying factors that drive gold prices and make trading decisions based on their analysis of these factors. For example, traders may consider factors like interest rates, inflation, or geopolitical tensions to gauge the direction of gold prices. Risk Management: Regardless of the chosen trading strategy, effective risk management is crucial. Traders should consider setting stop-loss orders to limit potential losses and adhere to proper position sizing to manage risk. It's also important to stay updated on market news and be aware of major events or data releases that may impact gold prices. Remember, trading gold, like any other financial instrument, involves risks, and no strategy can guarantee profits. It's recommended to practice due diligence, conduct thorough research, and consider personal risk tolerance and financial goals when developing or adopting a trading strategy. Seeking advice from experienced traders or consulting with a financial advisor can also be beneficial.
OANDA:XAUUSDLong
by eretusam
GOLD DOWNTURN NOT OVERAfter an impressive uprise, Gold pulled back below 2000 USD mark and currently remains there. Fed is notig that given the resiliance of the inflation, the interest rates should continue to rise, until the inflation is in acceptable levels. The rise of the value of the dollar had put some pressure on the yellow metal, taking it out of the bullish range that was formed in March. The two indicators, MACD and RSI, are both confirming the reversal, with RSI below the 50 neutral line and MACD's histogram below 0. If the current trend continues, the price might test levels of 1955 and 1920. In the opposite scenario, the price might reaches back levels of 2070. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
FX:XAUUSDShort
by legacyFXofficial
Gold to find buyers at market?Gold - 24h expiry - We have posted an inside Harami candle on the daily chart. A clear sign of investor indecision. A bullish reverse Head and Shoulders is forming. Bespoke support is located at 1995. The formation has a measured move target of 2041. Dip buying offers good risk/reward. We look to Buy at 1991 (stop at 1976) Our profit targets will be 2028 and 2035 Resistance: 2010 / 2022 / 2041 Support: 1995 / 1980 / 1924 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XAUUSDLong
by OANDA
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