GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAPHey Everyone,
This is the monthly chart idea for our long term/range analysis, which we shared in September. We have now completed two bull targets and stated both months left a big detachment to ema5 which needed a well overdue correction.
This monthly chart detachment is now complete, as highlighted by the circle on the chart. This now provided the support and bounce allowing us to buy dips inline with our plans.
Our 1H and 4h Charts have completed all bearish targets and now broken through all support. However with the breakout below, each of our weighted levels gave the 30 to 40 pip bounces just like we said.
This area is a strong level of support with ema5 providing dynamic support now for a bounce. Each of the lower Goldturn levels below are likely to give re-actional bounces just like our shorter time frame ideas.
However, we will keep in mind the channel top that may require a support test and will use all support structures across all our multi time frame chart ideas to buy dips also keeping in mind our long term gap above. Short term we may look bearish but looking at the monthly chart allows you to see the bigger picture the overall long term Bullish trend.
We will update our Multi timeframe route map with updated levels on Sunday.
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
Tradingideas
Gold price analysis November 14Fundamental Analysis
Gold (XAU/USD) fell for a fifth straight day and dropped to its lowest since September 19, around $2,554-$2,553 heading into the European session on Thursday. The commodity continued to be weighed down by the post-election rally in the US Dollar (USD) that has extended into the new year, bolstered by optimism about the expected expansionary policies of the incoming Trump administration.
Meanwhile, Trump’s potentially inflationary tariffs could force the Federal Reserve (Fed) to pause its easing cycle. Moreover, the US Consumer Price Index (CPI) released on Wednesday pointed to slower progress in lowering inflation and could lead to fewer rate cuts next year. This remains supportive of higher US Treasury yields and contributes to outflows from non-yielding gold.
Technical analysis
The technical price zone in the current European trading session is around 2648 2659. With the recovery from this zone, gold can recover to the 2587 zone in the near future and in the following days can reach back to the 2616 hook. But this scenario is relatively unlikely when the number of fomo sellers is quite large. When the 2648 zone is broken, the fomo chain continues to sell and pushes the gold price down to 2527 and 2503, so prioritize SELL signals at the present time when the price breaks out of 2648. Wish you a successful trading day.
USDJPY / TRADING INSIDE STRAIGHT CHANNEL / 4HUSDJPY / 4H TIME FRAME
HELLO TRADERS
Current Support Level, Prices are approaching a support level around 154.666. If prices remain above and stabilize at this level, it suggests the potential for upward movement.
Upside Target (Resistance), If prices stabilize above 154.666, there’s an expected increase toward a resistance level around 157.689.
Downside Scenario, If prices break below 154.666, it could indicate further declines toward a support zone between 152.201 and 151.033. Stabilizing above this zone may create conditions for a bullish reversal.
Bearish Outlook, If prices break below the 152.201-151.033 zone and a 4-hour candle closes below it, a further decline to the support level of 149.281 may be anticipated.
Overall Trend, The text suggests there’s still upward pressure overall, meaning the trend may currently be bullish unless the key support levels are broken.
XAUUSD / RANGE BETWEEN SUPPLY ZONE AND DEMAND ZONE / 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
Previous Price Movement , The price initially rose to a supply zone, achieving a profit of +240 pips, indicating a successful upward trade before the price began to decline.
Current Support Zone, The price has now fallen to a demand zone between $2,565 and $2,550. This zone is viewed as a potential area of support where buyers may enter, potentially reversing or slowing the decline.
Potential Price Increase, There’s an expectation that the price could bounce back up to an FVG between $2,636 and $2,664. This gap might act as an interim target, providing resistance where the price could stall or reverse again.
Upward Continuation , For prices to continue rising, they would need to stabilize above the demand zone between $2,565 and $2,550. If they do, the target for the next supply zone lies between $2,687 and $2,708.
Risk of Further Decline, However, if the price breaks below and stabilizes under the demand zone, it suggests a likely continuation of the downtrend, as it would indicate a weakening of buying support.
Overall Trend , Despite the downward moves, the overall trend is described as under “upward pressure,” indicating a bullish bias in the larger context.
GOLD ROUTE MAP UPDATEHey Everyone,
Following on from yesterdays update; After getting the bounce from the swing range for 50 pips, we saw ema5 cross and lock below the swing range, opening the support structure - This was hit today!
We are now expecting a reactional bounce here for support. If the support structure holds with no ema5 lock we are likely to see levels above tested. However, if we see ema5 cross and lock below the full support structure then we will see a break out below. We will update our Goldturn levels on our next update if needed.
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 then 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 shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2694
EMA5 CROSS AND LOCK ABOVE 2694 WILL OPEN THE FOLLOWING BULLISH TARGET
2724
EMA5 CROSS AND LOCK ABOVE 2724 WILL OPEN THE FOLLOWING BULLISH TARGET
2754
EMA5 CROSS AND LOCK ABOVE 2754 WILL OPEN THE FOLLOWING BULLISH TARGET
2784
BEARISH TARGETS
2665 - DONE
EMA5 CROSS AND LOCK BELOW 2665 WILL OPEN THE SWING RANGE RANGE
SWING RANGE
2640 - 2611 - DONE
EMA5 CROSS AND LOCK BELOW 2611 WILL OPEN THE SUPPORT STRUCTURE
SUPORT STRUCTURE
2583 (DONE) - 2564
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
BITCOIN / OVERALL UNDER UPWARD PRESSURE / 4H BITCOIN / 4H TIME FRAME
HELLO TRADERS
Bitcoin recently reached an all-time high (ATH) of approximately $90,000 before experiencing a corrective phase. Prices are expected to stabilize in the demand zone between $76,982 and $74,781. Should Bitcoin maintain stability above this level, it may reattempt its ATH, targeting a new range of $92,000 to $95,000. However, a break below this demand zone could indicate a further decline towards a lower support region between $70,379 and $66,920. Overall, Bitcoin continues to exhibit bullish momentum despite corrective phases.
XAGUSD / TRADING UNDER DOWNWARD PRESSURE / 4HXAGUSD / 4H TIME FRAME
HELLO TRADERS
Overall Trend , The prices are currently under downward pressure, suggesting that the market is in a bearish phase until a breakout occurs from the current trading channel.
Demand Zone , The asset is attempting to reach a demand zone, which is between 30.27 and 30.01. If the price stays above this range, it is expected to rise toward the supply line at 32.03.
If the price stabilizes above the demand zone, there is a potential for upward movement toward the supply zone, which lies between 32.55 and 32.92. This suggests a possible reversal or rally in price.
Conversely, if the price breaks and stays below the demand zone, it indicates a further downward movement, with the next target being the FVG (Fair Value Gap) area, between 29.71 and 29.16. This would suggest that the market is under significant bearish pressure.
Supply Zone , The overall sentiment remains bearish until the price moves above the supply zone (between 32.55 and 32.92). As long as the price is trading below this range, downward pressure is expected to persist.