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XAUUSD RECAP & TRADE IDEAFrom the previous setup, we can see that the movement of gold made a breakout at the 2728 level before dropping to the take profit level at the 2.618 Fibonacci extension (2651) and then made a correction to the 50-61.8 Fibonacci retracement level (2709). So this week, I am waiting to see if the current price will head towards the 1.618 Fibonacci extension before deciding to continue the buy position. If the price successfully breaks the support level at 2642, it is likely that the price will head towards 2360-2500/90. However, if there is a bounce at the support area, the price might continue to rise towards 2690-2700. **My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading my skills also for my trade journal** Thanks a lot for your support
FX:XAUUSDLong
by mytw0cents
Gold Analysis November 13fundamental analysis Gold prices pared some of their modest intraday gains, although they held above $2,600 heading into the European session on Wednesday. Uncertainty over the extent of trade tariffs promised by U.S. President-elect Donald Trump and their impact on the global economy dampened investor appetite for riskier assets, spurring some flows into the precious metal. In addition, some repositioning ahead of U.S. consumer inflation data turned out to be another supportive factor for the commodity. Meanwhile, the U.S. dollar (USD) held steady at its highest level since early May amid hopes that Trump’s expansionary policies could boost inflation and limit the scope for Federal Reserve (Fed) rate cuts. The outlook still favors rising US Treasury yields, which, in turn, restrains any further upside for non-yielding Gold. Technical Analysis Yesterday, Gold fell back to the 618 Fibo extension level and this morning broke down from 2598 and flew up to 2613. We are currently waiting for a Break to find a Buy point, or at least a correction to the Retracement point at 2603 to detect a Buy signal, because at 2608 like this is a bit half-hearted. Choosing an uptrend for today, but it is only a correction, so before tonight's news, I will choose to buy with a short TP to the 2625 area (in case of breakout at 2615) The SELL levels of 2625 - 2627, 2644 - 2646, 2658 - 2660 will be updated immediately at the time of real-time signal, the admins will notify. The best Buy signal below is to wait for a break of 2593, the price will return to the levels of 2586, 2576 - 2574, a false break through 2565 to catch the entry of 2562 is also good, for other areas, scalp and don't expect too long, at least from the 2574 area onwards to think about holding.
FOREXCOM:XAUUSD
by TVS-Trader
Gold trading strategy november 12Fundamental Analysis Gold prices fell to $2,600, or a fresh one-month low, heading into Tuesday’s European session on continued buying of the US dollar (USD). Investors remained hopeful that US President-elect Donald Trump’s expected expansionary policies could boost economic growth and boost inflation, limiting the scope for the Federal Reserve to ease policy. This sent US Treasury yields higher, further supporting the greenback and dragging the non-yielding yellow metal lower for a third straight day. It was also the fourth negative move in the past five days for safe-haven gold, which appeared unaffected by concerns that Trump’s protectionist stance could spark a trade war. It will now be interesting to see whether the shorts retain control or choose to reduce their bets ahead of speeches from a host of influential FOMC members, including Fed Chair Jerome Powell, on Thursday. In addition, US consumer inflation figures on Wednesday will be looked at for clues on the Fed's rate cut path and provide fresh impetus to XAU/USD. Technical Analysis Gold prices broke the last support zone of 2606 and headed towards the 2582-2580 zone. Waiting for gold to close below the 2606 area on m30 and SELL signals to be established towards the 268x zone. Waiting for the early US session if the front port zone around 2592 is broken, then hold the sell signal to 258x. If it fails to break 2592, close SELL BUY at the beginning of the short scalp session back to zone 06 and continue SELL to trade within the range.
OANDA:XAUUSD
by TVS-Trader