XAUUSD Potential Forecast | 31st October 2022Hi there guys,
I mainly use ICT + Smart Money Concepts for my trading.
With a very rangy market today. I'm moving to the H4 timeframe for gold and spotted 2 different areas where gold might head to after the range breakout.
1.) Long to the H4 Fair Value Gap at 1653.120
2.) Short to the H4 Fair Value Gap at 1629.335
Always use confirmation entries on the lower timeframe for entries! Stay safe trading guys!
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Xau-usd
XAUUSD 4hour Analysis October 30th, 2022Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall we are still bearish on gold but we did see a push up to our 1675.00 area for another test.
We did see some rejection from 1675.000 after and price action turned bearish. Going into this week we’re looking to continue with the bearish trend.
Look for another test of 1660.00 with good bearish rejection to enter short on.
Trade scenario 2: It’s hard to find a quality bullish setup to offer until we break above 1675.00
#XAUUSD THE TABLE NOW HAS TURNEDThe uptrend has taken a pause naturally as it is struggling to break above the 4H MA200 (1,668.71), having failed to close a candle above it.
This is a strong sign of (short-term at least) profit taking.
As mentioned yesterday, the 4H MA50 (1,648.31) is the short-term Support, there is also a Higher Lows trend-line involved (1,653.90) starting from the October 21 Low.
In any case, the 1D MA50 (my end target on this week's buy) is now even lower at 1,686.73, so I am moving the SL even higher in profit (1,653.80) in order to considerably limit the risk.
If either the 1D MA50 or the SL are hit, I will be in no rush to re-enter either with a Sell or a Buy ahead of today's ECB Rate Decision and U.S. GDP.
1D remains borderline neutral (RSI # 48.291, MACD # -10.580, ADX # 21.918) and only a break above the 1D MA100 (1,731.55) can reverse the trend into long-term bullish.
If we close today below the 4H MA50 (i.e. news are digested), I will sell (TP # 1,620).
XAUUSD H4: Bullish outlook seen, further upside above 1643.00On the H4 time frame, prices are approaching the support zone at 1643.00, in line with the Fibonacci confluence levels where a throwback to this area presents an opportunity to play the bounce to the next resistance zone at 1687.00. This resistance zone coincides with the descending trend line, 61.8% Fibonacci retracement and 100% Fibonacci extension level. Stochastic is testing support at 1.91 as well, where we could see more upside, in line with prices.
XAUUSD can move lower? 🦐GOLD on the 4h chart after the recent high dropped at the 1660 level and tested a confluence zone between a descending trendline and static support.
The price might provide some retracement to the 0.5 Fibonacci level.
How can i approach this scenario?
According to Plancton's strategy IF the market will break below the support area i will consider a nice short order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any questions.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
XAUUSD 4hour Analysis October 23rd, 2022Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We saw a large bullish surge at the end of last week but we are still overall bearish on higher timeframes.
Going into this week we’re looking for reversals near 1660.00 with clear price action to enter short on. Ultimately look for lower high formations down to 1600.00
Trade scenario 2: If we are to consider gold bullish we really need to see a higher low above 1675.000, until that happens we’re generally bearish on the 4hour timeframe and higher.
XAUUSD Potential for Bearish Continuation | 21st October 2022On H4, with the price moving within the descending channel and below ichimoku cloud , we have a bearish bias that the price may drop from the sell entry at 1639.34, where the pullback support is to the take profit at 1615.561, which is in line with the 100% fibonacci projection . Alternatively, the price may rise to the stop loss at 1655.032, which is around the 23.6% fibonacci retracement .
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GOLD SHORTWe have a descending channel and with the indicators BB the middle line, and the EMA, we can clearly see the pattern will continue, at least until the orange box, because could be the next support, where we can find at 1622.564 the first, or the second one with the LL at 1616.888.
However take a look the the FED speech!!
Joe Gun2Head Trade - Gold remains under pressureTrade Idea: Selling Gold
Reasoning: Breaking support at 1640, lower prices to follow?
Entry Level: 1638.69
Take Profit Level: 1615.40
Stop Loss: 1648.23
Risk/Reward: 2.44:1
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XAUUSD H1: Bullish outlook seen, further upside above 1639.00On the H1 time frame, prices are approaching the support zone at 1639.00 which coincides with the 78.6% Fibonacci retracement level. A throwback to this 1639.00 support zone presents an opportunity to play the bounce to the next resistance zone at 1666.80. A break above this level would provide the bullish acceleration to the next resistance zone at 1694.80. Stochastic is approaching support at 5.28 as well supporting the bullish bias.