XAU! 11/7! retest 2680 area to get liquidityXAU / USD trend forecast November 7, 2024! SCALPING
Gold prices (XAU/USD) decline for the second straight session on Thursday, weighed down by a stronger US Dollar following former President Donald Trump's election win.
The precious metal faces selling pressure as safe-haven demand wanes, with market optimism rising on the back of “Trump trades.” With the presidential outcome now clear, the markets are less concerned about a contested result, contributing to the bearish sentiment around gold.
Gold prices mostly sideways before the FOMC meeting tonight: 2650 - 2670
/// BUY XAU : zone 2661-2658 scalping
SL: 2655
TP: 40 - 80 - 150 pips (2673)
Safe and profitable trading
Xauusdbuy
XAUUSD: Buy@2660-2652 TP 2686-2702The result of the election, with Trump becoming the President of the United States, led to a significant drop in gold prices. The original target range for this week was between 2786-2752, but due to the news impact, the target was reached earlier than expected, so the upcoming trading plan needs to be adjusted.
Today's trading was quite volatile. The long positions entered early were closed near 2728, resulting in some losses. However, these losses were effectively compensated during the subsequent rebound. At the same time, short positions brought in substantial profits .
Currently, gold prices have dropped to around 2760.. It's important to note that gold's price corrections often come with strong rebound signals. If you're currently holding long positions and temporarily trapped, it's advisable to remain patient, as a rebound is expected soon. My personal target for this rebound is around 2700. The potential for this rebound is worth watching closely.
XAUUSD: 300+ Pips Daily 1 HR View! Dear Traders,
Price dropped from 2792 to 2733 record 600 pips, now we are looking at the price correct the fair value gap that it has created due to that massive drop. Now we are looking at the nice correction and price might reject from the 2772 area. Good luck.
Trade safe!
Xauusd buy confirm signal Gold extends it daily slide to the $2,700 area as markets reacted to Donald Trump's victory in the presidential election. The benchmark 10-year US Treasury bond yield rises more than 4% on the day, forcing XAU/USD to stretch lower.
Gold now buy 2706
Support 2720
Support 2730
XAU/ USD! 11/5! Gold short term recovery! Aiming for target2705XAU / USD trend forecast November 5, 2024
Gold price (XAU/USD) recovers from an intraday dip, holding near $2,735 with little change heading into Tuesday's European session. Safe-haven demand driven by the close US presidential race and potential for increased Middle East tensions supports the metal. Additionally, as traders pull back from the "Trump trade" and anticipate further rate cuts from the Federal Reserve amid a cooling US job market, US Treasury yields decline. This has led to renewed US Dollar selling, adding further support for gold as global equity markets maintain a cautious outlook.
Election results approaching - slight recovery before sharp decline, heading towards 2705
/// BUY XAU : zone 2734-2731
SL: 2726
TP: 50 - 150 - 300 pips (2761)
Safe and profitable trading
Going Long on Gold During the Election PeriodTomorrow, gold is expected to experience significant volatility, as market sentiment may be influenced by a range of events, particularly the outcome of the elections. Based on the current technical setup, my plan is to maintain a bullish bias in the short term, especially if gold continues its upward trend. However, if the election results turn out to be unfavorable for the bulls and the market reverses, I will add short positions to my existing bullish trades to capitalize on potential downside risks. I will closely monitor price movements and adjust my strategy based on market reactions.
Additionally, after the end of this week, given the increasing market uncertainty, my focus will shift to short positions, with the aim of targeting the 2686-2652 range. This area is likely to provide strong support and will be an important level to watch.
XAUUSD: Bullish trendToday, gold has tested the support at the 2732-2728 range again. So far, the support remains intact, and the short-term trend is still leaning towards a bullish outlook. Based on this, the primary trading direction in the current session remains bullish.
From a technical perspective, gold is likely to continue its upward momentum in the near term. The key resistance zone to watch on the upside is between 2750 and 2758. It is worth noting that a resistance level has emerged around 2745 since the market opened yesterday.
However, given the overall trend, this resistance does not pose a strong technical barrier at the moment, and a breakout above this level is not expected to face significant difficulty.
Therefore, if gold can break above the 2745 level, there is a high likelihood of further gains towards the 2750-2758 range.
XAUUSD: Continue to Monitor Resistance at 2750-2758Gold has once again tested support without breaking it, indicating short-term upward momentum. During the Asian and European sessions tomorrow, consider focusing on low buys, with resistance continuing to be monitored around the 2750-2758 area.
The upcoming election news during the US session is likely to have a significant impact on the market, so while seizing opportunities, be mindful of potential risks.
Seize the opportunity and welcome Super WeekMarket Analysis: No need for lengthy discussions; the best strategy in the current market is to initiate long positions in gold at lower levels. With the U.S. elections and Federal Reserve decisions approaching, the gold market remains bullish. Recent rumors of Iranian retaliation against Israel, coupled with disappointing employment reports, suggest the Fed may lower interest rates, all of which will likely drive gold prices higher.
Technical Analysis: Gold has retraced to the strong support level of 2733-2735. This area represents a robust support zone from the past few days. In the absence of bearish news, it is unlikely that this support will be broken. Thus, our trading strategy this week will pivot from last week’s approach, focusing on going long at lower levels.
Today’s Trading Strategy:
Entry Strategy: Go long on gold near the support level
Take-Profit Target: 2748-2750
Stop-Loss: 2718-2720
Conclusion and Recommendations: This week marks a super week for the month, with numerous major events and data set to impact market trends. How should you navigate these trading conditions? What will the market trend look like? After reviewing my analysis, you’ll have a clearer sense of direction. For specific trading strategies, please reach out to me, and I’ll share the comprehensive trading plan for the week with all my VIP members.
XAUUSD: Can Gold Return to 2780?On Friday, gold prices experienced a slight decline, mainly under the pressure of a stronger dollar and rising U.S. Treasury yields. However, weaker-than-expected U.S. job growth fueled market speculation for a Fed rate cut, cushioning gold’s decline.
In October, due to hurricane disruptions and an aerospace industry strike, U.S. nonfarm payrolls saw a modest gain of just 12,000 jobs, marking the smallest increase since December 2020. Although the dollar initially retreated, it closed up 0.4%, and the benchmark 10-year Treasury yield rebounded from early losses, diminishing the appeal of non-yielding gold.
Gold prices returned to the support zone, aligning with prior predictions. Current chart patterns suggest a potential “W” bottom, signaling bullish prospects, with short-term indicators pointing to a likely upward move. However, a mid-term bottom pattern has yet to form, and bulls should watch for resistance around 2750 in Monday’s trading, as a retest of support remains possible.
With the U.S. election approaching and reports of a potential retaliatory move by Iran against Israel, multiple uncertainties hover over the market. Coupled with a lackluster jobs report, many analysts now see a near 100% probability of a 25-basis-point Fed rate cut next week.
While rate cut expectations might bolster gold bulls, this scenario could already be priced in, meaning gold prices may potentially drop in response to the rate decision. Ahead of this, the U.S. election on Tuesday and initial jobless claims on Thursday will be key factors influencing gold.
In summary, a turbulent week lies ahead for gold, with investors encouraged to remain vigilant and approach trades with caution.
The price of gold currently fluctuates mainly in a rangeThe overall operating rhythm of gold is range-bound. It fell for two consecutive trading days last week. Although there was a retracement today, it continued to support the low of 2732.
The bottom of gold continues to rely on the position near 2730, which has been supported many times in the early stage. The resistance above focuses on the 2745, 2755 and 2760 first-line suppression. If it encounters resistance, it will lighten up its positions and continue to see range fluctuations.
Xauusd buy confirm signal Gold buyers need to reclaim the $2,746 resistance on a daily closing basis to resume its uptrend. That level is the 23.6% Fibonacci Retracement (Fibo) level of the latest record rally from the October 10 low of $2,604 to the new all-time high of $2,790.
Gold now buy 2739
Support 2752
Support 2758
Xauusd buy confirm signal Gold buyers need to reclaim the $2,746 resistance on a daily closing basis to resume its uptrend. That level is the 23.6% Fibonacci Retracement (Fibo) level of the latest record rally from the October 10 low of $2,604 to the new all-time high of $2,790.
Gold now buy 2739
Support 2752
Support 2758
NFP Set to Rock Gold: Last Opportunity for a Well-Timed ShortMarket analysis: Brothers, today's gold market continues to be bearish! The short orders arranged before the release of yesterday's data have brought us a lot of benefits, and we have seized the lucrative profits of the decline in gold. Tonight, heavy data will be released one after another: the US October non-farm employment data, unemployment rate and ISM manufacturing PMI index will form a triple impact on the gold market.
These data are expected to put bearish pressure on gold, but considering the sharp drop the day before, today's downside may be limited because the market has partially digested the bad news. Therefore, today may be the last short-selling opportunity this week. Next week, with the landing of the US election, the market is expected to turn to favor gold.
So how to arrange it, you can look at the candlestick chart, 2756-2758 is currently an important pressure point, so the strategy before the data is released is to short the market near this pressure point!
Trading strategy:
Layout before data release: short in the key pressure area of gold
Take profit target: 2735-2740
Stop loss setting: 2770
Strategy ideas to follow the trend: As the last trading day of this week, we will arrange short orders before the data is released, and start to arrange long orders next week to follow the trend.
Detailed strategies and operation points have been released to each VIP member. If you need further guidance, please join the VIP group to get exclusive strategies!
wait NEW ATH 2771 ! positive from the market XAU ⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Expectations of a more moderate rate cut by the Federal Reserve and concerns about deficit spending after the US election should help support US bond yields and the USD. Additionally, a positive sentiment in global equity markets is keeping Gold prices in check. Investors also appear cautious ahead of key US data releases this week, including the Advance Q3 GDP, PCE Price Index, and Nonfarm Payrolls (NFP) report.
⭐️Personal comments NOVA:
Break trendline H1 - buyers push the price to continue waiting for a new ATH in the near future at 2771
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2771 - $2773 SL $2778
TP1: $2765
TP2: $2750
TP3: $2740
🔥BUY GOLD zone: $2742 - $2739 SL $2735
TP1: $2750
TP2: $2760
TP3: $2771
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order.
⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
2787 ! ATH XAU heading in today⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) reach a new record high during Wednesday’s Asian session as US election uncertainties and ongoing Middle East conflicts drive demand for safe-haven assets. Additionally, a slight drop in US Treasury yields and a softer USD further support the precious metal, outweighing the upbeat market sentiment, which would typically limit Gold's appeal.
⭐️Personal comments NOVA:
The uptrend continues to maintain - positive from the market before the November 5 US presidential election. Aiming for the price range 2787 - 2800
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2787 - $2789 SL $2792
TP1: $2783
TP2: $2778
TP3: $2770
🔥SELL GOLD zone: $2801 - $2803 SL $2808
TP1: $2795
TP2: $2780
TP3: $2760
🔥BUY GOLD zone: $2755 - $2757 SL $2750
TP1: $2762
TP2: $2770
TP3: $2780
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order.
⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
What Should You Do if You Hold Long Positions Between 2770-2750?Today, influenced by negative data, gold experienced a significant drop. After completing the take profit on my short positions, I entered long trades. I believe many of you are in a similar situation, holding long positions in the 2767-2730 range, which has led to our accounts being in a trapped state.
However, after such a large decline, a market rebound is inevitable. As long as we hold our positions firmly, we can at least expect a rebound to around 2760. Additionally, tomorrow's NFP data and unemployment rate will be released, along with several other minor data points that will certainly contribute to increased market volatility.
If the price rebounds to around 2760 before the data is published, then under negative data conditions, it is likely to drop again. However, if the price does not rebound to this level, gold will not drop too much under negative data, with 2721-2712 being an acceptable range.
In this context, next week's trading will definitely focus on long positions. So, if your orders are also in a trapped state, there’s no need to worry too much. The market always has its ups and downs; stay confident and seize the opportunities for a rebound. In the end, we will achieve better results.
NFP Ahead: Targeted Short Strategy for Optimal GainsMarket Insight: Great work today on capturing profits with the short trade, everyone! My VIP members and I have made impressive gains. If you're interested in continuing to secure these returns, reach out to me directly—we’re setting up for a major strategic move.
With most key economic releases for the week showing bearish outcomes, tomorrow brings one more critical release: the U.S. October Non-Farm Payroll (NFP) report, which is highly likely to impact gold negatively. We’ll continue focusing on short positions for the remainder of this week. Looking ahead, however, as the U.S. election concludes next week, we anticipate a potential shift, at which point we’ll pivot to long strategies to capture possible upside momentum.
Current Gold Trading Strategy:
Entry Level: Short gold at 2740
Take-Profit Target: 2730
Stop-Loss: 2750
Exclusive Member Strategy Update: This strategy will only be shared once today. For tomorrow’s detailed NFP trading plan, I’ll be providing specific guidance exclusively to my VIP members. If you’d like to join and get access to tailored strategies, reach out now!
XAU! 10/31! FOMO price increase continues $2800XAU / USD trend forecast October 31, 2024
Gold prices reached a record $2,790 in the North American session as uncertainty surrounding the US Presidential Election keeps investor demand high. Strong US economic data, reflecting steady growth and a solid jobs market, limited further gains in the metal. XAU/USD currently trades at $2,785, up 0.40%, just below the all-time high after rebounding from a daily low of $2,771. Meanwhile, US Treasury yields dipped as investor optimism grew around the Fed's soft-landing outlook.
The FOMO of the end of 2024 price increase is becoming extreme - gold becomes the top active investment asset right now. We will see the highest ATH in the end of 2024, then cool down and give market share to other types.
/// SELL XAU : zone 2798-2801
SL: 2806
TP: 50 - 200 - 300 pips (2771)
Safe and profitable trading