GOLD IS GOING TO EXPLODE!Hello trades,
Today we are looking at XAUUSD .
In my analysis you seen above, I am using the Elliot wave trading strategy which I commonly teach.
Firstly we shorted as Gold rejected our 8HR EMA and 0.5 fibonacci
Gold is currently forming corrective wave A where we can see our minor impulsive waves forming.
bpcdn.co
We are currently forming wave 2 which is a ABC corrective wave before continued bullishness
We are expecting price to continue down to our long zone at our 0.5/0.618 Fibonacci zone where we will be expecting subwave 3 to form which is a impulsive wave.
If you like my idea, be sure to give it a boost!
Xau-usd
XAUUSD 4hour Analysis October 2nd, 2022Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: We are still clearly bearish overall but the 4hour trend is pushing up.
We are close to 1675.00 resistance and we will look for reactions near this zone this week.
Ideally, price action rejects 1675.00 and continues bearish. If this happens look to enter short on clear lower highs.
Trade scenario 2: If we are to consider gold bullish for entries we need to see a higher low above 1675.000
XAUUSD Potential for Bearish Continuation | 27th September 2022On H4, with the price moving below ichimoku cloud and descending channel , we have a bearish bias that the price may drop from the sell entry at 1652.219, which is in line with the 23.6% Fibonacci retracement to the take profit at 1608.873, where the 100% Fibonacci projection and 61.8% Fibonacci projection are. Alternatively, the price may rise to the stop loss at 1678.226, which is in line with the 50% Fibonacci retracement.
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Gold Daily Analysis 27.09.2022Gold is in downtrend. Yesterday gold test the support near 1620. Today I hope gold will continue in sideways testing the support at 1620 and resistance at 1640. If gold breaks support and closes below 1620 then we will see dip below 1600. If gold closes above 1640 then the next resistance is at 1650 and 1680. Closing above 1680 will signal trend reversal.
We have monthly closing also this week. So expect more lows and avoid long term trade. We need to make atleast one higher high for buying. Till then we can see for selling at every lower high.
SELL 1640 SL 1650 TP 1620
BUY 1620 SL 1608 TP 1640
Gold Daily Analysis 26.09.2022Gold is in downtrend. Still the support levels are breaking one after other. Today the support at 1640 is broken. I see gold will find support near 1620 where we can see sideways movement for some days. I think we can see some bullish trend only after testing support near 1580. Seeing the instant price action near 1626 we can go for small buy near this.
BUY 1626 SL 1616 TP 1636
SELL 1646 SL 1656 TP 1626
XAUUSD 4hour Analysis September 25th, 2022Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are looking steadily bearish here on gold and we have strong evidence we will continue to do so. Going into this week we’re looking for new structure.
Ideally, price action retests 1660.00 and forms our next lower high. We will then look to target lower support levels.
Trade scenario 2: If we are to look at this chart and consider gold bullish we would need to see a break above 1675.00 with a higher low above.
XAUUSD - LONGXAUUSD are in a consolidation area, and two tops. XAUUSD will be long, here because:
- We have a triangle, and it was tested sometimes
- The Building Permits was released and seems USD will be weaker
- EMA and BB basis lines are almost crossing
- MACD have another support, if you check others TF, and seems to be a strong one
- Candles are closing above the lowest lower
XAUUSD 4hour Analysis September 18th, 2022Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Looking bearish as we go into this week and we can see our 1675.00 support zone was taken out recently.
Going into this week we’re looking to ride the bearish trend. We ideally need rejection from 1675.00 as new resistance. Look to target lower toward our -27% fib level.
Trade scenario 2: If we are to see gold as bullish we first need to see a rally higher into the prior range.
XAUUSD INVALIDATED ITS BULLISH VIEW? BELOW 1670 TARGET 1637Looking Back at Mar 22, 2021, We talked about XAUUSD in consolidation level.
Since that time, XAUUSD has tested its historical time and failed. Then reversed in deep correction.
As I said at previous idea Mar 22, 2021,
"Break and hold above 1925 would resume medium term bullish view to test 1990 and all time high 2075 level.
Break below 1660 would invalidate its bullish view."
Now, XAUUSD break below 1670 and 1660, invalidated its bullish view.
If XAUUSD Hold Below 1670 then its Bearish Continue To Target :
1637, 1534, and 1200.
Resistance at 1740.
Gold Daily Analysis 14.09.2022Yesterday gold made a higher low near 1697. We can take a good longterm BUY with SL 1688 near this level.
The present value zone is trending up. Yesterday gold tested the support at lower level of value zone.
Today price may test to break yesterday low and if bulls are strong we will be good to make our higher high at 1742 by week end
In present level we should not sell
BUY 1702 SL 1688 TP 1742
Gold Daily Analysis 13.09.2022Gold is in a uptrend value zone making small highs and lows.
Today Gold may test the resistance at 1743.
Present 1728 is weekly resistance. So we can expect any reversal from here if bulls are weaker. If price is able to sustain above this level in daily candle we will have this as support in next week.
Today we have important news in US time. So expect price to test its support or resistance levels then. If gold breaks the present value zone then it means a change in trend. The present uptrend value zone is formed recently and may not be strong. So dont go for longterm short even if price goes below this value zone.
The present setup is suggesting good reversal considering the double bottom formed in daily and 4 hour charts.
My trading idea for today
BUY 1718 SL 1708 TP 1742
XAUUSD 4hour Analysis September 11th, 2022Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are still overall bearish and we can see price action attempted to break the range but failed to form above the zone at 1720.00
The most likely scenario is gold continuing the range it's in. If this happens look to target toward the bottom of the range.
Trade scenario 2: For us to consider gold bullish again we ideally need to see a bullish break of the range with a higher low above.
Gold Daily Analysis 09.09.2022Gold is consolidating after forming a double bottom by testing the support at 1690. However we need a breakout from the present sideways pattern above 1728 in daily chart for more bulls to show. Today is week close. So we can expect SL hunting on sell side. We can hope for the breakout next week.
SELL 1726 SL 1732 TP 1716
BUY 1706 SL 1696 TP 1726