my opinion about GOLD in daily time framemy opinion about GOLD in daily time frame
we have 3 scenario for it .
in all of theme , we may have a short correction .
be careful
Xauusd(w)
GOLD / XAUUSD TODAYOn Daily chart we will looking good reverse for long setup with target new higher high.
Gold is still bulish.
Of course in intraday we looking sell setup on M5 and M15 minutes at the moment
Good luck and remember about small risk in your trading
The situation of gold in the coming weeks, correction or new H?The situation of gold in the coming weeks, correction or new ceiling?
According to the chart in the weekly long time frame, we have the hanged man candle, which is confirmed by a big red candle.
Considering the fundamental conditions of the US presidential election, the growth of gold in recent weeks, the announcement of the US interest rate today, we may see a correction for gold, this precious metal.
Profit from existing positions with capital management.
good luck
GOLD Outlook: 07-NOV-2024Good morning, traders! Welcome to today's GOLD market analysis. Compare my price action insights with your own charts and enhance your trading skills.
Xauusd LongGold looks to continue with its bullish value, this could probably be the last one we experience in a while but lets see how it goes...
Bearish drop?The Gold (XAU/USD) is rising towards the pivot which acts as an overlap resistance and could reverse from this level to the 1st support which has been identified as a pullback support.
Pivot: 2,671.48
1st Support: 2,641.00
1st Resistance: 2,709.12
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World gold was sold off and plummetedGold sold off and plunged to its lowest level in 3 weeks after the unexpectedly decisive victory of Republican US presidential candidate Donald Trump.
The Federal Reserve's FOMC meeting appears to be overshadowed but also in the spotlight this week. The meeting began Wednesday morning and ended Thursday afternoon with a statement from the FOMC and a press conference from Fed Chairman Powell. Most people believe the Fed will cut its key interest rate by 0.25%.
“While the market expects a 25 basis point rate cut, any sign of a pause or slowdown in cuts will put further pressure on gold, which is already sensitive to rising interest rates and a stronger dollar",
“With a stronger dollar and rising yields, gold faces immediate downside risks, potentially extending towards the 50-day moving average at $2,636.66 an ounce if the Federal Reserve State signals more caution about future interest rate cuts.”
This puts a lot of pressure on Gold and we can completely believe that gold will fall even deeper
🔥 XAUUSD BUY LIMIT 2649 - 2647🔥
✅TP1: 2660
✅TP2: 2670
✅TP3: OPEN
🚫SL: 2638
🔥 XAUUSD SELL LIMIT 2676 - 2674🔥
✅TP1: 2665
✅TP2: 2655
✅TP3: OPEN
🚫SL: 2685
Global Gold Price Drops Sharply After Trump WinsAfter news of Trump’s win broke, gold prices dropped by 3% within a single day due to the strong rebound of the U.S. dollar. This decline was primarily driven by traders anticipating that Trump’s trade policies would include higher tariffs, likely keeping interest rates elevated and making gold more expensive for holders of other currencies.
According to me, gold prices began to decrease shortly after the election ended, as the U.S. dollar surged, exerting downward pressure on gold.
In the short term, gold prices may experience significant volatility as markets assess the impact of future Federal Reserve decisions and respond to global risk factors. Although fluctuations are expected, if U.S. interest rates decrease or additional geopolitical risks arise, gold prices could return to an upward trend.
Gold prices to fall steadily by the end of 2024Gold prices are trending down today, falling below the critical $2,700 level and currently hovering around $2,659.
The main driver behind gold's decline is the surging USD, coupled with investor expectations that tensions in the Middle East and Ukraine may ease. Additionally, previous profit-taking and short-selling activity have further "sunk" this asset.
If this trend continues, gold may test lower support levels around $2,603, after revisiting the 0.786 Fibonacci level and declining in line with the Elliott Wave 5. Investors are advised to seize short-selling opportunities while closely monitoring market movements in the coming period!
XAUUSD TRADED IDEAHi all
There are two movements, buy and sell. If the price respects the trendline, it is likely that the price will continue to drop to TP 1. However, if there is a breakout at the trendline and it makes a new high, it is likely that the price will change direction to a buy and target an all-new time high of 2874
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading my skills also for my trade journal**
Thanks a lot for your support
Gold Hits 3-Week Low: Recovery or Further Decline?Gold prices dropped over 3% to a 3-week low on Wednesday (Nov 6) as the USD strengthened following Donald Trump’s victory.
Gold has reached a critical support level around 2,642.534 USD/oz, acting as a key "stop point." If strong buying interest emerges here, gold may see a short-term recovery.
However, if this support level doesn’t hold, the next downside target could be 2,588.110 USD/oz, where additional buying pressure is expected.
The 34 and 89 EMA lines are currently above the price, indicating that the downtrend still dominates. To confirm a recovery, the price needs to climb back above lost resistance levels. Conversely, if selling pressure persists and the price stays below the EMAs, the downward trend is likely to intensify.
Investors should closely monitor price reactions at these support and resistance levels, especially as global political and economic factors could lead to strong market volatility.
XAUUSD - GOLD - Scalping Mode! 4th NovLet's see what the market has to offer.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
XAUUSD H4 | Bearish Reversal Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 2677.16, which is a pullback resistance.
Our take profit will be at 2628.88, a pullback support level.
The stop loss will be at 2714.61, a pullback resistance level.
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Gold Drops After Donald Trump's VictoryOn the day, gold prices fell by 3%, primarily driven by the strong rebound of the US dollar. This shift came after news of Republican candidate Donald Trump’s victory in the 2024 US presidential election. The US dollar surged as investors anticipated that under Trump’s administration, higher tariffs could lead to sustained high interest rates for a longer period, making gold more expensive for buyers holding other currencies.
Based on technical chart analysis, gold is currently in a strong downtrend, with the trendline indicating a clear decline. A strong resistance level at 2,746 led to a sharp drop in gold prices, which then tested the support level at 2,648. Given the current situation, the prospects for a short-term recovery in gold are limited, and the likelihood of further declines remains dominant. If gold fails to hold above the 2,648 support level, the downtrend may continue, with subsequent support targets around 2,620 and 2,600.
It seems that there will be significant volatility for this precious metal in the short term. Does anyone feel the same way as I do?
Follow the trend and keep sellingGold fell sharply on the daily line. With Trump's victory, market funds flowed into US bonds and the US dollar index, which had a certain negative impact on gold and silver. The short-term hourly chart has double tops, the four-hour moving average dead cross opens downward, the daily dead cross opens downward, and the RS indicator breaks through the middle axis. Oversold intraday trading rebounds and high-altitude is the main focus.
Gold shorts are unstoppable, and bulls basically have no counterattack power. Gold is now shorting with the trend, and the rebound is an opportunity to short. Gold is directly shorted near 2660 in the Asian session! Believe in the power of the trend.
Gold's 1-hour moving average is still diverging downward, and the gold short momentum is still very strong. After gold rebounded yesterday, it continued to fall weakly under pressure at 2678. Gold is too weak, so it will continue to be short. If the rebound is too large, gold can't continue to be short. Now the rebound is weak and it is directly short.
First support: 2632, second support: 2609, third support: 2600
First resistance: 2663, second resistance: 2675, third resistance: 2683
Trading strategy:
Prioritize shorting based on resistance, shorting can be done near 2663/2675; buy again if a stop-fall signal appears at the resistance position.
Will Gold Hold at 2630? Key Levels for Bulls and BearsI'm eyeing a sell opportunity in gold (XAUUSD) , targeting the 2660 level for an ideal short entry. The price is expected to dip towards 2630 , a significant support zone, where a potential reversal could occur. If the market finds strength there, we may see a bounce as buyers step in.
Geopolitical tensions continue to support gold's safe-haven appeal, but a stronger dollar or global risk-off sentiment may keep downward pressure in the short term. Monitoring price action closely around these levels for potential setups.
XAUUSD - The downtrend is not over yet!Today, the world gold price recorded a slight decrease. This precious metal reached about 2,737 USD/ounce and has not fluctuated much since the beginning of the week.
Regarding the influencing factors:
- Gold prices increased slightly due to the demand for safe haven capital, when the whole market is anxiously waiting for the results of the US presidential election.
- However, the gold price increase has slowed down somewhat when US stocks increased very strongly. The Dow Jones index increased by 427 points, Nasdaq increased by 259 points and S&P 500 increased by 70 points. Many people have invested in stocks, causing the cash flow into the gold market to slow down. Gold prices no longer have the momentum to accelerate.
Regarding the new outlook for XAUUSD:
As we can see on the 1-hour chart of XAUUSD, we can see that the current price tends to move sideways around 2,730 - 2,757 USD. Meanwhile, the breakout from the previous bullish trendline is forming strong resistance nearby, suggesting that this could be a key resistance zone for any upside move. If the price breaks below the $2,730 support zone, further downside is likely near $2,700.
Gold price today: Continuing momentum!Ben hello everyone.
Today, gold price is tending to decrease, after not passing the resistance vertices of 2790-2750, the price has begun to decrease and currently trading at $ 2728. This decline takes place before important events such as the US presidential election and the interest rate of the US Federal Reserve (Fed).
As seen on the 2 -hour chart, it can be seen that gold price is still reacting around EMA 34 and the discount has not been broken, showing that the downtrend has not ended. Due to these factors, according to Ben's personal opinion, it is expected that gold price will continue to decrease in the near future, which is likely to reach about $ 2708 lower than $ 2709.
Few things can happen for GoldGood drop because of tight election night so here is the way gold can do;
It need to break Resistance 2,663 | 2,685 & 2,700.
If it breaks those 3 resistance the but will remain strong and will hit back to 2,725 thru 2,765 zone.
If you are in the buy now please be very careful and cautious cuz the resistance are very tight.
2,650 is a pretty strong support along with 2,640 & 2,625.. the buyers should be just fine.
Please be cautious and dont put SL too far; place at least %12-14.5 percent away from your entry so you wont lose much.
SL : 2,660.70 or 2,659.75
I known its close but it can spike pretty quickly before you know it.
So please use proper risk management
Lets make this money
GOLD ON SUPPORT, POSSIBLE PULLBACKGold has retraced over 61%, reaching a key support zone that indicates a potential reversal to the upside. On the 4-hour timeframe, a broad Fair Value Gap (FVG) has formed between $2678 and $2701, which we anticipate may fill as the price rebounds. However, there remains a possibility of further downside momentum, which could lead to a deeper test of the support zone before a reversal fully takes hold.
GOLD → Global reversal H&S. How far do we fall? FX:XAUUSD was looking pretty steady in the Asian session until the press came out with their statements before Trump's speech. The fundamental background is weakening, but there are positive nuances from the news....
There is one last vote left, but Trump has a 99% chance of winning.
Markets believe his policies will put upward pressure on inflation, treasury yields and the US dollar, which could have an overall negative impact on the XAU
BUT, there is a possibility that in the long term, the gold price will also benefit from the new president's policies as Trump's foreign policy related to China and Europe could cause unrest and panic in the market
Sentiment around the US election will play a key role in gold price movement ahead of the US Fed policy announcement due on Thursday.
Technically, gold is giving hints of a possible reversal by forming a classic H&S pattern. The main support is at 2708
Resistance levels: 2731, 2735, 2749
Support levels: 2724, 2713, 2708, 2689
Also, H1 is starting to show a local descending channel. Before the official verdict of the vote, the price can still test these resistance areas, but later the market may turn around and start a gradual decline until the end of market-wide euphoria....
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;)
Regards R. Linda!
XAUUSD first time under the MA200 (4h) in 3 months.Gold broke today under the MA200 (4h) for the first time since August 7th.
So far that hasn't invalidated the 5 month Channel Up, in fact today's low makes a perfect Higher Low for the bearish wave.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 2845 (+7.31% rally, which is the lowest it has so far inside the Channel Up).
Tips:
1. The RSI (4h) hasn't been this oversold (reached 20.00) inside the Channel Up. An additional strong buy signal.
Please like, follow and comment!!
Notes:
Past trading plan:
