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GOLD 1H CHART ROUTE MAP & TRADING PLANS FOR THE WEEK AHEADHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price test support at 2331 with price close below it leaving a gap to the retracement range. However ema5 cross will further confirm this, as a target. We also have a gap above at 2350. We now have gaps between both support and resistance weighted levels. Gap above at 2350 weighted level and gap below at 2315 Goldturn. We will need to see ema5 lock above 2350 to further open the range above or a rejection will follow to find support at the retracement range. A cross and lock below 2315 will open the swing range. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2350 EMA5 CROSS AND LOCK ABOVE 2350 WILL OPEN THE FOLLOWING BULLISH TARGETS 2365 2378 BEARISH TARGETS 2315 EMA5 CROSS AND LOCK BELOW 2315 WILL OPEN THE SWING RANGE SWING RANGE 2274 EMA5 CROSS AND LOCK BELOW 2374 WILL OPEN STRUCTURE SUPPORT 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! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
21
GOLD 4H CHART ROUTE MAP & TRADING PLANS FOR THE WEEK AHEADHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price play between two weighted levels 2361 resistance and 2322 is the weighted support for this range. We will need to see either weighted level break and lock to confirm the next range. We will need to see ema5 lock above 2361 to further open the range above or a rejection will follow to find support in the retracement range. A cross and lock below 2290 will open the swing range. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2361 EMA5 CROSS AND LOCK ABOVE 2361 WILL OPEN THE FOLLOWING BULLISH TARGET 2385 EMA5 CROSS AND LOCK ABOVE 2385 WILL OPEN THE FOLLOWING BULLISH TARGET 2416 BEARISH TARGETS 2322 EMA5 CROSS AND LOCK BELOW 2322 WILL OPEN THE FOLLOWING BEARISH TARGET 2290 EMA5 CROSS AND LOCK BELOW 2290 WILL OPEN THE FOLLOWING SWING RANGE SWING RANGE 2274 - 2246 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! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
8
GOLD WEEKLY CHART LONG TERM/RANGE ROUTE MAPHey Everyone, This is an update on our weekly chart idea that we have been tracking and trading successfully over the last few months and currently still being respected. So far we were able to track the entre move up and down twice with level to level tracking and our long term swing range zones have also provided the bounces each time. Last week we completed our bullish target of 2438 confirmed by the body close gap at 2404. No further gap was created and only a wick confirming the rejection. The rejection completed the detachment to ema5 below as highlighted last week and also inline with the channel top, which we were looking for a re-test to confirm support. If this support breaks and the channel top does not provide the dynamic support we are looking for then we are likely to see price break back into the channel for a further correction to respect the levels in the channel once again. The levels will then provide the bounces inline with our plans to buy dips, level to level using our smaller time-frames. Buying dips allows us to safely manage any swings rather then chasing the bull from the top Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
8
GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAPHey Everyone, We have been successfully tracking this chart for a while now and after completing all our targets inline with our plans the new month candle opened in a central range with room above and below for the updated detachment to complete, highlighted with the new circle and also room above to re-test the new open range LAST WEEKS UPDATE We got the test at 2421 completing the gap from last week and our monthly chart idea and now the detachment below has also moved up with the momentum of the movement last week closing the gap further like we said above. We now only have 2483, as our long term extended target on this chart idea left. CURRENT UPDATE We saw price take a drop last week inline with the longer term correction we were looking for on this monthly chart. While chasing the bull on our smaller timeframe over the last few months we kept in mind the detachment every week on this chart reminding our followers, with the highlighted circle keeping in mind the market can throw this curve ball at anytime due to the detachment below and to manage risk according in the range due to the wider available range. Long term we will like to see and look for price support above the channel top for a continuation to re-test the range above. We still remain Bullish and will only safely take buys from support levels. 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
FOREXCOM:XAUUSD
by Goldviewfx
14
GOLD DAILY CHART UPDATEHey Everyone, Please see our daily chart idea that we have been tracking and trading successfully since completing our last daily chart idea. Previously we saw the anticipated retracement take place into the channel half line where we expected a bounce, which played out perfectly with the full half line test complete followed with the bounce up, as no lock below to confirm channel low test. The bounce up left a gap above at 2414 Axis target last week. - This gap was hit and target completed perfectly last week. We will now look for a break above this level to continue the full channel top test or a rejection at this level will see price look for channel half line test dynamically, as the channel ascends. We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion. Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our algo generated levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
8
Bitcoin - scalp ideaOur short-term take on Bitcoin focuses on the approach to the 4H supply zone and the high volume node area. We have set our stop loss just above the supply zone to manage risk effectively. The target is set at $67,350. As we approach this critical level, we need to observe how Bitcoin reacts to the lows. There is some uncertainty in the market at the moment, so it is essential to be cautious with trades. Stay alert and monitor the price action closely. Let’s see how this plays out. 🤝
Short
by stromm_by_wmc
GOLD DIALY CHART UPDATEHey Everyone, After sharing our 1H and 4H charts with completed bull targets earlier this week followed with the swing range test and bounce, please now see our daily chart update from last Sunday. As you can see our unique Goldturn channel top was respected perfectly followed with the rejection into the channel half line, as highlighted by the arrows last Sunday. This chart idea is playing out and respecting the direction and the dynamic ascending support so far on the channel half line. Support here and we will see another push up or a break below the half line will open the lower half of the channel. We will continue to track this level to level with our smaller time-frame analysis. We will now come back Sunday with our multi time-frame analysis, Gold route map and trading plans for the week ahead. Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
26
Gold continues to decline after 2 daysSpot gold prices continued to decline on Thursday, with the lowest trading level at 2,327.28 USD. The precious metal fell sharply for the second straight week, with the USD initially taking advantage of the hawkish FOMC meeting minutes. Documents released on Wednesday showed officials expressed concern about the lack of progress in achieving the 2% inflation target, but remained confident that inflation would fall. However, a rate cut seems unlikely before September. The announcement weighed on the stock market, pushing Wall Street to close lower.
TVC:GOLD
by SantaTradeGold
XAUUSD : Gold will have a reversal todayAfter only 2 consecutive falling sessions, world gold price (XAU/USD) has dropped more than 100 USD if calculated from the high on May 22. Since the historic peak of 2,450 USD, XAU/USD has dropped more than 120 USD in just 4 sessions. Gold has been at a disadvantage since Wednesday's hawkish FOMC meeting minutes. Just yesterday, preliminary PMI data were released with a spike in the services sector, which accounts for about two-thirds of US economic activity. Data shows the US economy remains strong, despite high interest rates, further pushing back investor expectations for the Fed to cut interest rates soon this year. TD Securities commodity strategist Daniel Ghali said that although the greenback's recovery and the weakening interest rate outlook have triggered a sell-off in the gold market, the correction will not be too deep. According to him, gold is adjusting to the view that the Fed will maintain high interest rates for a longer period of time, while at this meeting, the Fed mentioned the possibility of raising interest rates if inflation remains "persistent". UBS Bank recently raised its gold price forecast to 2,600 USD by the end of 2024 and advised investors to wait to buy at about 2,300 USD or lower.
OANDA:XAUUSDLong
by SantaTradeGold
GOLD 4H CHART MARKET UPDATEHey Everyone, Our 1H chart update yesterday completed the bullish targets followed with the drop shared yesterday completing the bearish targets. We got the swing range bounce, as part of our plans to buy dips and now broken the swing range on the 1h chart. However, Switching to our 4h chart, we can see after completing all our bullish targets, we got the cross and lock below 2379 opening the 4h swing range, which was also hit today and now testing for support. We are also likely to see our bounce like our 1H chart for a 30 to 40 pip catch. This area is a crucial test of support. A break and lock below the swing range will open the range below or support here will follow with a retest above at 2379. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2418 - DONE EMA5 CROSS AND LOCK ABOVE 2418 WILL OPEN THE FOLLOWING BULLISH TARGETS 2438 - DONE POTENTIALLY 2453 BEARISH TARGETS 2400 - DONE 2379 - DONE EMA5 CROSS AND LOCK BELOW 2379 WILL OPEN THE SWING RANGE SWING RANGE 2357 - 2334 - DONE 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! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
26
Polkadot - higher time frame setupWe are looking for a higher time frame play on DOT. We believe the recent setback provides a good opportunity to place our first entry. If the price drops further, potentially due to news or other factors, we plan to place a DCA (Dollar-Cost Averaging) bid below the current daily demand zone. The daily demand zone should hold; otherwise, the bullish count would be invalidated, and we could see lower prices. The target is not specified yet as we are waiting for the market to show us potential levels. From the chart, we can see the following key points: - The daily demand zone around $7.17-6.88 is crucial for maintaining the bullish structure. - The next significant resistance lies in the daily supply zone between $8.58 and $9.11. Let's see how this plays out as the market evolves. ✅
Long
by stromm_by_wmc
XAUUSD : Gold turned down sharply after the FOMC meetingClosing the trading session on May 22, spot gold price decreased 1.8% to more than 2,377 USD/ounce after hitting a historic high of 2,450 USD/ounce on May 20. Calculated from the intraday high of 2,426 USD/ounce, spot gold price has decreased by about 50 USD/ounce. Gold futures contracts also decreased 1.4% to nearly 2,393 USD/ounce. As of the time of writing, spot gold prices continue to be under selling pressure, reaching a low of 2,366 USD/ounce. Jim Wyckoff, Senior Analyst at Kitco Metals, said the market is seeing some sustained liquidation during the week, with some short-term futures traders taking profits. This is completely normal when gold prices reach new peaks. "Tomorrow will be an important trading day and gold prices need to recover immediately, otherwise there will be a strong correction in the short term," Mr. Wyckoff added. The newly released minutes of the FOMC meeting shocked the gold market, leading to a wave of strong selling. According to the minutes, Fed officials expressed concern about persistent inflation in the first quarter of 2024. Some even favored further tightening of monetary policy if inflation continued to exceed expectations. . In addition, the minutes also revealed the Fed's view that it will take more time than expected to bring inflation to the target level of 2%. This makes many investors worry that the Fed's interest rate cutting roadmap may be delayed. Compared to previous sessions, this time's minutes were considered much more "hawkish", demonstrating the lack of confidence of some Fed officials about the current level of inflation control. While acknowledging that inflation has fallen over the past year, the minutes also note that there has been no significant progress in achieving the 2% inflation target in recent months. The latest Consumer Price Index (CPI) report shows that inflation is showing signs of decreasing. However, Fed policymakers emphasized that a single data point or monthly report is not enough to accurately assess trends. Therefore, the Fed will likely wait a few more months to monitor the next reports and ensure that inflation has been effectively controlled before considering reducing interest rates.
OANDA:XAUUSD
by SantaTradeGold
Gold is falling to create momentum to increase again ?Gold prices decreased because US government bond yields increased after the Fed meeting minutes. Gold prices fell sharply when US government bond yields increased and the greenback appreciated. The 10-year US government bond yield increased 2 basis points to 4.43%, while the DXY index increased 0.19% to 104.82, an obstacle for gold. FOMC minutes showed that Fed officials remain uncertain about the extent of policy tightening. They added that "it will take more time than expected to have more confidence in inflation falling to 2%." During the week, speeches by Fed officials laid the groundwork for the "hawkish stance" of the FOMC Minutes, as most officials said they wanted to be sure that inflation was coming down and that they were in no hurry. lower interest rates. Data from the Chicago Mercantile Exchange shows investors are expecting the Fed to cut interest rates by 31 basis points by the end of the year.
TVC:GOLD
by SantaTradeGold
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone, A big move down on gold today from the rejection at 2429. Yesterday we stated we were looking for ema5 to break either 2429 or 2413 level to open the next range. Today we got the break below 2413 opening the full retracement range like we said and this played out perfectly hitting the retracement range. We now also have a cross and lock below the retracement range opening the swing range. We are seeing the first level of the swing range tested now and expect support bounces here. We took buys earlier before the break below and took an SL after a long a time and now will use the dips to manage back. 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 share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2429 - DONE EMA5 CROSS AND LOCK ABOVE 2429 WILL OPEN THE FOLLOWING BULLISH TARGETS 2442 - DONE POTENTIALLY 2458 BEARISH TARGETS 2413 - DONE 2401 - DONE 2390 - DONE EMA5 CROSS AND LOCK BELOW 2390 WILL OPEN THE SWING RANGE SWING RANGE 2377 - 2355 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! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
66
Snowflake - going to miss the earnings?!Today, Snowflake’s earnings are due, and it’s an important event to watch. Looking at the stock’s history since its debut on the New York Stock Exchange in September 2020, we can identify a crucial zone that initially acted as support but has since turned into a resistance zone. We’ve seen attempts to break above this resistance at around $210, but these have been unsuccessful, with the price falling back below this level leaving behind an earnings gap. Currently, we have what can be referred to as the "Mother-of-all-Trend-Lines." These are two trendlines running parallel, forming a channel that has been critical in maintaining the chart’s structure. This channel is crucial for holding the overall trend of the chart. For Snowflake to realize its upward potential, it needs to sustain these trendlines and break above the resistance zone at $210. Successfully flipping this resistance into support, particularly with the support of the high-volume node, is essential for a push upwards, unlike what happened at the beginning of 2024. While there is significant upside potential for Snowflake, it will take time. The stock must not only hold the "Mother-of-all-Trend-Lines" but also convincingly break and maintain the $210 resistance level. A closer look at Snowflake reveals that the high-volume node (HVN) plays a critical role in the chart's overall structure. The upper edge of this HVN has worked with the resistance zone, serving as a strong resistance point. Meanwhile, the lower edge has acted as a solid support line, holding up the price on four occasions. We could see another test of the Point-of-Control (POC) before potentially moving higher. There's a significant earnings gap of approximately 14% that needs to be closed. According to typical charting techniques, all gaps are eventually closed; the question is only when. We believe that this gap will be at least tested. Whether it will be fully closed depends on if the resistance zone around $210 can be flipped into support. If Snowflake fails to flip this resistance, we might only see a gap test followed by another sell-off. The situation remains uncertain, so we plan to stay on the sidelines for now, closely monitoring the developments. We will observe how the stock behaves around the POC and the resistance zone to determine our next move.
NYSE:SNOW
by stromm_by_wmc
NVIDIA - ready for the earnings? Regarding Nvidia, we maintain our view that Wave ((iv)) has concluded, and we are currently on the path to completing the overarching Wave 3. We anticipate this wave to reach between $1032 and $1300, which we consider the maximum potential target range for now. We observed an accumulation phase from June 2023 to January 2024. This area might become significant again, possibly next year, as a zone for placing new entries. Currently, the market has left a lot of imbalances and shows very little volume on the way up because the price has been consistently surging. With the earnings report due today, we can expect around 8.7% volatility in either direction, depending on the earnings outcome. It’s common to see even greater fluctuations than anticipated during such events. We will find out this evening after the market closes. For now, everything points towards the continuation of the upward trend. Zooming in, it's clear that since reaching the 461.8% level, where we perfectly completed Wave ((iii)), we have seen the formation of Waves (i) and (ii) in the current move to complete wave ((v)). We anticipate expanding this upwards within the trend channel. Our tentative expectation is that the upcoming earnings report might outperform expectations, which would align with the chart’s indications. If earnings exceed expectations, we could see a spike to a new all-time high, followed by a retracement marking Wave (iv) and then an overshooting Wave (v). The target zones for Wave ((v)) are similar to those of Wave 3, lying between the 50% and 61.8% Fibonacci extensions. Specifically, we are looking at a range between $1123 and $1192. After reaching these levels, we expect a significant pullback towards the Wave 4. This scenario would align with typical Elliott Wave patterns and provide opportunities for strategic entries and exits.
NASDAQ:NVDA
by stromm_by_wmc
THE KOG REPORTTHE KOG REPORT: In last week’s KOG Report we said we would be looking for price to attempt the push up, go into resistance where we wanted to short the market into the order region, and then look for the long trade back up from there on the RIP into the levels above. This went extremely well giving us a pin point move from level to level. During the week we updated the idea, which was already going to plan with a new bullish bias level and trade the new Excalibur activations upside into just below where we are now. Plan worked well again giving an almost pip to pip, level to level reaction from our levels and following our bias and analysis posted pre-hand. Well done to those that followed not only gold but the numerous other pairs we trade in Camelot which also gave us fantastic results for the week. So, what can we expect in the week ahead? This week we would say caution on long trades unless we get a pullback into key level support where we feel it’s worth a test, unless the higher levels aren’t taken on or during the early sessions of the week. We have an order region sitting above 2425-35 which is a large region, and if we see price attempt and give us a clean reversal there, we feel an opportunity to short the market is available for traders back down into the 2400 and below that 2385 price region which is where they may want to start to accumulate again. The issue we have here is that 2445-65 level which is a clean region of liquidity if they want to take it and stretch the sellers even more, so here we will caution again, as that level is the extension of the move, be prepared! So, in practice what do we do? Because we’re back in uncharted territory again, we’ll have to treat this as level to level play, we’ll look lower in the highlight region to go long, unless broken, and if they continue to take us up, we’ll trade it level to level looking for the ultimate short trade following our trusted guide. KOG’s Bias for the week: Bullish above 2395 with targets above 2430-35 and above that 2447 Bearish on break of 2395 with targets below 2375 It’s going to be a difficult week with potential of gaps on opening due to a Powell speech later, be fore market open! There is a lot of geopolitical news driving the markets and fear is present, although it’s looking like we’re going higher we would say caution over the week as a sudden turn will be extreme! Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
10