Pinbar on Gold, more upside possibleGold fluctuated strongly overnight as the price spiked down to the 1726 price level before surging strongly to the upside.
Breaking above the 1745 interim resistance level, Gold is currently trading at the 1755 price level.
This move higher is primarily due to the current weakness of the DXY.
Look for Gold to continue trading higher toward the 1780 price level, with the next key resistance level at 1800.
Xau-usd
XAUUSD Potential Forecast | 22nd November 2022Hi everyone, today I will be talking about a possible XAUUSD short trade using Smart Money Concepts.
Trade idea
1. In the current bearish trend, price is moving efficiently.
2. Lower lows and lower highs are being formed.
3. Price has tapped into the supply zone above marked by the blue zone and is currently rejecting off this area.
I anticipate for price to continue its bearish momentum and leg as price is current retracing.
Things to look out for:
1. Do note that if price were to invalidate the current supply zone, it might continue heading up and our trade idea will then be invalidated.
Trade safe guys.
Regards,
Chern Yu
XAUUSD Potential for Bullish Continuation | 23rd November 2022On H4, the price has broken out of the descending channel and is now above the ichimoku cloud , indicating a bullish bias. Looking for a buy entry at 1727.850, where the 61.8% Fibonacci line is. Stop loss will be at 1704.376, slightly above where the 50% Fibonacci line is. Take profit will be at 1765.050, where the 78.6% Fibonacci line is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
XAUUSD Potential for Bearish Momentum | 22nd November 2022On H4, the price has broken out of the descending channel and is now above the ichimoku cloud , indicating a bullish bias. Looking to play the pullback. Price has tapped into my sell entry at 1765.050, which corresponds to the 78.6% Fibonacci line. The stop loss will be set at 1807.960, the previous swing high. The take profit point will be at 1727.850, which is the 61.8% Fibonacci line.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
XAUUSD M15: Bearish outlook seen, further downside below 1746.50On the M15 time frame, prices are facing bearish pressure from the resistance at 1746.50, in line with the graphical resistance zone and 38.2% Fibonacci retracement. A pullback to the resistance zone at 1746.50 presents an opportunity to play the drop to the next support target at 1739.50, which coincides with the graphical resistance-turned-support level and 50% Fibonacci retracement. Stochastic is testing resistance at 78.10 as well where we could see a reversal below this level.
XAUUSD Potential for Bearish Momentum | 21st November 2022On H4, the price has broken out of the descending channel and is now above the ichimoku cloud , indicating a bullish bias. Looking to play the pullback. Price has tapped into my sell entry at 1765.050, which corresponds to the 78.6% Fibonacci line. The stop loss will be set at 1807.960, the previous swing high. The take profit point will be at 1727.850, which is the 61.8% Fibonacci line.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
XAUUSD 4hour Analysis November 20th, 2022Gold Neutral idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We are very clearly bullish on gold now but we have rallied pretty high and are due for a retracement.
As price action sits now, we are right near our 1800.00 major zone. It all comes down to this level, break or bounce.
Ideally, price action reverses here and commits to a retracement. If this happens we will look for price action to fall to 1675.00 and then form a higher low we can enter long on.
Trade scenario 2: There could be a decent short opportunity here on this retracement but we first will have to identify a lower timeframe bearish trend.
Look to enter on lower highs after a confirmed reversal from our 1800 area.
XAUUSD potential Forecast this week | 21st November 2022Hi there guys,
I mainly use ICT + Smart Money Concepts for my trading.
Here's a trade idea for the 2nd last week of November.
Abbreviations
BSLQ : Buyside Liquidity
SSLQ : Sellside Liquidity
FVG : Fair Value Gap
Analysis
Weekly bias: expansion to the upside
- Daily FVG spotted
- Breaker block spotted
- Equal highs above the daily supply zone
Idea
I am expecting possibly 2 scenarios for gold this coming week.
1.) A possibly retracement to the Daily FVG at 1747.385, before price heads to the upside.
2.) A deeper retracement to the 1725.600 area where there is the 38.2% Fibonacci retracement line and the breaker block, before price pushes back to the upside.
For entries, always use confirmations on the smaller timeframes! Stay safe trading!
Feel free to follow me, comment + boost this post if you guys enjoyed this!
Regards,
Chen Yongjin
FX XAUUSD Weekly Recap | 14th -18th November 2022Hi there guys!
I use smart money concepts to analyse price action and identify key important areas to execute positions.
GOLD
- Last week has largely been consolidatory on GOLD.
- However, towards the end of the week, we could see a change in market structure and a shift in momentum to the downside.
- I have utilized the concept of liquidity, structure and D & S zones in my analysis.
Outlook
- I am anticipating for GOLD to continue its bearish leg in the following week.
- Will be looking out for exhaustion candles and keep an eye on the potential slowing down of bearish movement.
Keywords
- BOS: Break of structure
💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1674.85, resumption of uptrend is expected.
We make sure when the resistance at 1786.50 breaks.
If the support at 1674.85 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1674.85 is broken.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1786.50 on 11/15/2022, so more losses to support(s) 1730.00, 1708.45, 1688.79 and minimum to Major Support (1674.85) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 62.
Take Profits:
1658.96
1688.79
1708.45
1730.00
1765.00
1807.13
1850.71
1878.75
1914.23
1980.16
2074.89
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XAUUSD Potential for Bearish Momentum | 18th November 2022On H4, the price has broken out of the descending channel and is now above the ichimoku cloud , indicating a bullish bias. Looking to play the pullback. Price has tapped into my sell entry at 1765.050, which corresponds to the 78.6% Fibonacci line. The stop loss will be set at 1807.960, the previous swing high. The take profit point will be at 1727.850, which is the 61.8% Fibonacci line.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
XAUUSD Potential for Bearish Momentum | 17th November 2022On H4, the price has broken out of the descending channel and is now above the ichimoku cloud , indicating a bullish bias. Looking to play the pullback. Price has tapped into my sell entry at 1765.050, which corresponds to the 78.6% Fibonacci line. The stop loss will be set at 1807.960, the previous swing high. The take profit point will be at 1727.850, which is the 61.8% Fibonacci line.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Gold Daily analysis 17.11.2022Gold failed to sustain above the 1780 level and did not even attempt to test the 1800.
Since gold closed below the bullish channel formed last week now bears are on ride.
Gold should test the 1748 and 1730 levels which will also be healthy corrections in Fib.
I am still bullish and I suggest to prefer buying
BUY 1748 SL 1742 TP 1758
BUY 1730 SL 1722 TP 1748
XAUUSD H4: Bearish outlook seen, further downside below 1767.00On the H4 time frame, prices are facing bearish pressure from the resistance at 1786.50, in line with the graphical resistance zone. A break below the downside confirmation level at 1767.00 could provide a bearish acceleration to the next support zone at 1731.80, which coincides with the graphical resistance-turned-support level and 100% Fibonacci extension. Stochastic is testing resistance at 96.02 as well where we could see a reversal below this level.