Today on Gold: XAUUSDTaking short positions below 1998.00 with targets at 1988.00 & 1983.00 in extension. If 1998.00 persists as resistance, anticipate choppy price action with a bearish bias.
Keep a keen eye on the New York session.
Tradingwithkay
Today on GOLD: XAUSDConsider opening short positions below 1974.00, with targets set at 1958.00 & 1952.00 as potential extensions. The recent breakdown below the crucial support level at 1974.00 has set in motion a rapid downward trajectory towards the 1952.00 mark. Let's keep an eye on the New York session.
NFP ON GOLD: My BiasToday, my forecast is that the price will likely test the 1800 level before rebounding to create a new high. Afterward, we might see it form an 'M' pattern, signalling a potential opportunity for a selling position.
Today on Gold: XAUUSDLet's delve deeper into this trading strategy. We're contemplating taking short positions if the market price falls below the 1829.00 mark. Our profit targets for this short position are set at 1814.00 and, further down the line, 1807.00.
However, there's an important condition here. To execute this trade, we must keep a close eye on the resistance level at 1829.00. If the market can't breach this level and remains below it, the likelihood of a price drop below 1814.00 becomes quite significant. In essence, we're closely monitoring these price levels for our trading decisions.
Monthly Progression: XAUUSD Looking at the monthly chart is like taking a step back and gaining a broader perspective. It allows us to spot potential trends and reversals that might not be as visible on shorter timeframes. When a new monthly candle forms, it can be a significant event, often indicating a shift in market sentiment or a continuation of an existing trend.
However, it's essential to remember that while the monthly chart provides a valuable big-picture view, it's the analysis on lower timeframes that helps us fine-tune our entries and exits. These lower timeframes allow us to get a closer look at market dynamics and pinpoint optimal entry points based on our trading strategies.
So, as we welcome this new month, let's keep a watchful eye on both the monthly and lower timeframes. By doing so, we can make well-informed trading decisions and navigate the markets effectively. Here's to a month of opportunities and successful trades! 📈💹🌟
TODAY ON GOLD: XAUUSDToday's outlook presents an interesting scenario for Gold trading. Observing the chart from higher timeframes, it appears that the buy level hasn't fully completed its cycle. Transitioning to lower timeframes, we noticed that Gold was expected to test a specific level, but it retraced upward instead.
In today's trading session, we anticipate that Gold might reach the marked key zone at 1983.805, subsequently falling down to approximately 1972 or even lower, before the potential buy opportunity emerges. However, it's crucial to exercise caution and wait for candlestick formations and confirmation signals before executing the trade.
By exercising patience and waiting for clear indications, we can ensure a more informed and calculated approach to our trading decisions. Always prioritize risk management and follow your trading strategy diligently. Let's keep an eye on the market, identify favorable entry points, and make the most of the opportunities presented to us.
UPDATE: XAUUSD BUY OR SELL?What to expect:
Based on our analysis, gold has respected our positions and reached the level of 1963. We anticipate that gold will continue its downtrend. According to the shared screenshot, we expect gold to consolidate around the range of 1963-1966 before the New York session. This consolidation may trigger stop losses and lead to a continuation of the downtrend. However, we need to wait for the New York session for further confirmation.
It's important to note that there's a Key Level at 1968, and if gold reaches that level, there is a possibility of it continuing its upward trend. In that case, it may rise all the way to 1978 before the sell-off begins. For now, we will wait and closely monitor the market for any potential trading opportunities.
Remember to exercise caution and wait for confirmation before making any trading decisions. The market can be unpredictable, so it's important to stay patient and follow your trading strategy.
NFP ON XAUUSD (GOLD)POTENTIAL NFP MOVEMENT 5th MAY 2023
Based on the shared analysis, it is anticipated that the BUY position will be realized first and is expected to reach 2066. However, it is recommended to set a break-even point if you choose to hold on to the position until the target profit is achieved, as the price movement is anticipated to be rapid. The same approach applies to the SELL position, with a target profit set at 1896 and a break-even point recommendation.
It is crucial to note that these trades are strictly related to the NFP (Non-farm Payroll) report and that it is recommended to risk only what can be afforded to lose. Proper money management is highly advised to be implemented at all times.
BUY BIAS ON XAUUSDThis is my anticipated scenario when the news is released, stay alert and be cautious in your trades, and make sure to use appropriate risk management measures.
SELL BIAS ON XAUUSDThis is my anticipated scenario when the news is released, stay alert and be cautious in your trades, and make sure to use appropriate risk management measures.
SELL BIAS ON XAUUSDmy focus for this week is on gold trading. I believe that gold will fall all the way to 1859.637, with a possible resistance point at 1962.6. Please do not enter until it reaches this point, unless you're scalping.
For those of you looking for possible entry points, keep an eye on 1965 - 1957.5. You can set your profit targets at 20-50 pips.
Let's work hard and have a productive and profitable week ahead.
MY SELL BIAS ON EURUSDI believe the Euro is likely to experience a bearish trend in the near future. If it manages to break through the resistance level of 1.08163, we can anticipate a further decline towards 1.07845.
SELL BIAS ON XAUUSDToday's trading might be sluggish, but it's worth noting that gold's trajectory is currently pointing downwards. If it surpasses the 1960 threshold, there's a chance it could decline significantly to 1862. It's best to keep a close eye on the market, and if you choose to take a position, please bear in mind the associated risks.
BIAS ON XAUUSDPlease exercise caution when trading. We recommend setting reasonable take profit levels based on market conditions. For example, a potential SELL take profit level could be set at 1973.4 and a potential BUY take profit level could be set at 1983.5, taking into consideration factors such as market trends and volatility. It is important to also consider potential risks and losses before making any trades.
PREDCITION ON XAUUSD (FOMC UPDATE)FOMC critical levels:
1 Resistance Level: 1852.69 - At this level, sellers may take control and there could be increased selling pressure. It is a crucial level to watch for potential bearish movements.
2 Support Level: 1821.28 - At this level, buyers may take control and there could be increased buying pressure. It is a crucial level to watch for potential bullish movements.
GOLD BUY PREDICTIONGOLD UPDATE: 1861.90 will be a crucial level to watch in the H4 timeframe. If the H4 candle can overcome selling pressure and push through, it may potentially impact the daily candle closure and bring an end to the sideway trend.
Gold Market AnalysisBUY KEY LEVELS: 1902 - 1904
SELL KEY LEVELS 1945 - 1947
I suggest monitoring the 15-minute timeframe for entry points to buy and sell
SELL BIAS ON XAUUSDPreference
Short positions below 1780.00 with targets at 1765.00 & 1757.00 in extension.
Alternative scenario
Above 1780.00 look for further upside with 1789.00 & 1800.00 as targets.
Comment
As long as 1780.00 is resistance, look for choppy price action with a bearish bias.
SELL BIAS O XAUUSDShort positions below 1759.00 with targets at 1746.00 & 1739.00 in extension.
Alternative scenario
Above 1759.00 look for further upside with 1764.00 & 1770.00 as targets.
Comment
As long as 1759.00 is resistance, look for choppy price action with a bearish bias.
