GOLD Wave CountElliott wave count on Gold suggests additional upside as we seem to have had a three wave move in what could be a wave {ii}.
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Xauusdelliotwave
Where is Gold Going?An interesting wave count for gold which seems to be correcting.
I could expect a flat wave B to then go back lower as drawn and hit the peak volume where price is circled.
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XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, the DOWNSIDE WAVE, GOLD went down very fast. Because of the POSITIVE SENTIMENT against the dollar, US10Y rose due to this. Then Ibem became a GOLD SELL. Some FED COMMENTS and NFP DATA were very helpful.
But last day all those LABOR DATA and INFLATION DATA INDICATORS were POSITIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF. CPI DATA was quite POSITIVE this week.
Anyway we expect GOLD to go DOWN to 1936 LEVEL. Before that GOLD can go up to 2051 LEVEL with the FOMC UPDATE. Stay tuned.
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, the DOWNSIDE WAVE, GOLD went down very fast. Because of the POSITIVE SENTIMENT against the dollar, US10Y rose due to this. Then Ibem became a GOLD SELL. Some FED COMMENTS and NFP DATA were very helpful.
But last day all those LABOR DATA and INFLATION DATA INDICATORS were POSITIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF. CPI DATA was quite POSITIVE this week.
Anyway we expect GOLD to go DOWN to 1936 LEVEL. Before that GOLD can go up to 2051 LEVEL with the FOMC UPDATE. Stay tuned.
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to the previous XAUUSS, downside wave, GOLD went down very fast. Due to the positive sentiment of the dollar, the US10Y increased. Then It became Gold SELL. Some fed comments and nfp data were very helpful.
But the next day all those LABOR DATA and INFLATION DATA INDICATORS were positive, so GOLD was slightly SOLD. It's definitely the most important indicator for the FED. Market RISK is currently off. This week CPI DATA became quite positive.
Anyway, we expect GOLD to be down to level 1936. Before that GOLD 2072 level can be up with FOMC UPDATE. Pay attention
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, the DOWNSIDE WAVE, GOLD went down very fast. Due to the POSITIVE SENTIMENT against the dollar, US10Y rose due to this. Then Ibem became a GOLD SELL. Some FED COMMENTS and NFP DATA were very helpful.
But last day all those LABOR DATA and INFLATION DATA INDICATORS were POSITIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF. CPI DATA was quite POSITIVE this week.
Anyway we expect GOLD to go DOWN to 1855 LEVEL. Before that, GOLD can go up to 2033 LEVEL with the FOMC UPDATE. Be careful..
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, the DOWNSIDE WAVE, GOLD went down very fast. Due to the POSITIVE SENTIMENT against the dollar, US10Y rose due to this. Then Ibem became a GOLD SELL. Some FED COMMENTS and NFP DATA were very helpful.
But last day all those LABOR DATA and INFLATION DATA INDICATORS were POSITIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF. CPI DATA was quite POSITIVE this week.
Anyway we expect that GOLD will go UP to 1959 LEVEL. Before that, GOLD may go down to the 1785 level with the FOMC UPDATE. Be careful..
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to our previous analysis of XAUUSS, GOLD went UP very fast in the previous weeks. Because of the NEGATIVE SENTIMENT against the dollar, US10Y went down due to this. Then I automatically bought GOLD.
But the last day all those INFLATION INDICATORS were NEGATIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF.
Anyway we expect that GOLD will go UP to 1960 LEVEL. Before that, GOLD may go down to the 1825 level with the FOMC UPDATE. Be careful..
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to our previous analysis of XAUUSS, GOLD went UP very fast in the previous weeks. Because of the NEGATIVE SENTIMENT against the dollar, US10Y went down due to this. Then I automatically bought GOLD.
But the last day all those INFLATION INDICATORS were NEGATIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF.
Anyway, we expect GOLD to go up to 2000 LEVEL. Before that, GOLD may go down to 1888 LEVEL with the FOMC UPDATE. Be careful..
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to our previous analysis of XAUUSS, GOLD went UP very fast in the previous weeks. Because of the NEGATIVE SENTIMENT against the dollar, US10Y went down due to this. Then I automatically bought GOLD.
But the last day all those INFLATION INDICATORS were NEGATIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF.
We have some very important NEWS coming to USD this week. Be sure to keep an eye on it.
Anyway, we expect GOLD to go up to 2000 LEVEL. Before that, GOLD may go down to the 1903 level with the FOMC UPDATE. Be careful..
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, GOLD went UP very fast in the previous weeks, BREAKING the TREND LINE. Due to this US10Y went down.
The dollar has strengthened after the December FOMC. All MARKETS including STOCKS and COMMODITIES are going down slightly due to the OFF of MARKET RISK. RETAIL SALES, NFP and PMI DATA, CPI DATA should be monitored.
But the last day all those ECONOMIC INDICATORS were POSITIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF.
We have some very important NEWS coming to USD this week. Be sure to keep an eye on it.
Anyway we expect that GOLD will go UP to 1935 LEVEL. Before that, GOLD may go down to the 1850 LEVEL with the FOMC UPDATE. Be careful..
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, GOLD went UP very fast in the previous weeks, BREAKING the TREND LINE. Due to this US10Y went down.
The dollar has strengthened after the December FOMC. All MARKETS including STOCKS and COMMODITIES are going down slightly due to the OFF of MARKET RISK. RETAIL SALES, NFP and PMI DATA, CPI DATA should be monitored.
But since all the ECONOMIC INDICATORS were positive the other day, GOLD was slightly SELL yesterday. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF.
We have some very important NEWS coming to USD this week. Be sure to keep an eye on it.
Anyway, we expect that GOLD will go up to 1875 LEVEL. Before that, GOLD may go down to 1767 LEVEL with the FOMC UPDATE. Be careful.. xauusd
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, GOLD went UP very fast in the previous weeks, BREAKING the TREND LINE. Due to this US10Y went down.
The dollar has strengthened after the December FOMC. All MARKETS including STOCKS and COMMODITIES are going down slightly due to the OFF of MARKET RISK. RETAIL SALES, NFP and PMI DATA, CPI DATA should be monitored.
But since all the ECONOMIC INDICATORS were positive the other day, GOLD was slightly SELL yesterday. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF.
We have some very important NEWS coming to USD this week. Be sure to keep an eye on it.
Anyway, we expect that GOLD will go up to 1875 LEVEL. Before that, GOLD may go down to 1739 LEVEL with the FOMC UPDATE. Be careful..
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, GOLD went UP very fast in the previous weeks, BREAKING the TREND LINE. Due to this US10Y went down. These days the FED RATE HIKE SLOWDOWN SENTIMENT and, in the short term RETAIL SALES, NFP and PMI DATA being POSITIVE, managed to make the USD STRONG.
But since all the ECONOMIC INDICATORS were positive the other day, GOLD was slightly SELL yesterday. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being ON.
We have some very important NEWS coming to USD this week. Be sure to keep an eye on it.
Anyway, we expect that GOLD will go up to 1875 LEVEL. Before that, GOLD may go down to the 1744 level with the FOMC UPDATE. Be careful..
XAUUSD - GOLD CURRENT SITUATION- US10Y is currently slightly up to 2.84% LEVEL. Like we said before, it was a little CORRECTION just like we thought. So far, we have seen the POSITIVE SENTIMENT for USD being similarly very POSITIVE for DXY.
The POWER of USD is still very strong in GOLD. Now DXY has been DOWN very fast for the last few days. We look forward to hearing from DXY. US10Y LONG TERM UP is going to be with this RATE HIKE CYCLE and this MARKET CONDITION. DXY is getting a bit down but now it's getting a bit UP up with the MARKET RISK OFF. Also, when we look at DXY, it has moved to DXY 101.68 LEVEL.
- GOLD PRICE is currently moving above DYNAMIC S / R LEVELS. Most likely the GOLD PRICE will be SHORT TEEM UP in the future. GOLD SHORT TERM has a UP SIDE BIAS but may be more DOWN under the influence of DOLLAR in the future. So currently UP can be before SELL.
- Currently the OVERALL MARKET is RISK OFF. STOCKS is currently showing a NEUTRAL BIAS. And the VOLATILITY is getting a bit UP. Also COMMODITIES still shows a UP SIDE BIAS. Currently there is only one RISK OFF TONE in the market. Therefore, all currencies such as NZD CAD AUD can definitely be DOWN in the future. Also JPY CHF can be UP.
- GOLD PRICE can be UP again before DOWN until 1918 LEVEL. So GOLD is more likely to go back to the 1918 LEVEL. Then you can definitely DOWN GOLD price up to 1783 LEVEL. If the TREND LINE is BREAK, you can go up to GOLD 1765 LEVEL DXY or US10Y if there is a UP TREND again.
- However, the bigger picture will change if a new sentiment enters the market or the market takes a risk to strengthen the US dollar first.
XAU/USD (GOLD) TO THE DOWN SIDEXAU/USD (GOLD) will down from 50% area of fibo or it will down from 61.8% area. We can see the price to the more downside in the upcoming days for finishing the Triangle.
DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans.
#XAU/USD #GOLD
XAU/USD (GOLD) HAVE A SHORT TERM BULLISHNESSXAU/USD (GOLD) can go around $1846 for making a B wave of a triangle. We can see an impulsive wave on gold as a-b-c as a corrective rally for the B wave of the triangle. Gold has bounced very quickly from the recent bottom and I would like to call it's a corrective rally because we can clearly see triangle formation on a weekly chart. We are on a c wave of B wave of E. E is the final wave for a finished triangle.
Some people might have a question for me " why you still bearish on gold ? " and for this question's answer, I would like to call - silver also didn't finish the correction and DXY also didn't finish the impulsive rally.
I to measure a-b fibo extension for getting c wave target and that's target is around $1846. We can draw a parallel channel and the middle point of the channel exactly match with fibo target of the c wave. So we can most likely see correction for E wave from that point.
DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans.
#XAUUSD #GOLD
Gold: These Two Levels Can Change The XAUUSD TrendAdvice For Day Traders:
XAUUSD is not tradable between the range of 1766 to 1745 . They are trend changer levels.
Gold's Simplified Trading Strategy:
According to Elliott Wave theory, it was in a corrective wave. It has completed the ABC, and now gold can start marching for a new impulse phase. Therefore, we can expect the gold's target price 1782 - 1790+ .
In simple language, you should wait for the breakout of 1766 or 1745 . Because of that's a crucial level for XAUUSD traders.
If gold will breakdown the 1745 level, then the downtrend will begin. And that downtrend can drag it down up to 1730 - 1706 - 1686 .
Please note, don’t forget to watch significant releases or events mentioned above in the chart that may affect the movement of gold, silver, and crude oil.
Tuesday, Sep 21, 2021
18:00 Building Permits (Aug) - Medium Impact
Wednesday, Sep 22, 2021
02:00 API Weekly Crude Oil Stock - Medium Impact
19:30 Existing Home Sales (Aug) - Medium Impact
20:00 Crude Oil Inventories - High Impact
23:30 FOMC & Fed Interest Rate Decision - High Impact
Thursday, Sep 23, 2021
00:00 FOMC Press Conference - High Impact
18:00 Initial Jobless Claims - Medium Impact
Friday, Oct 01, 2021
18:00 PS MoM - Medium Impact
19:15 Manufacturing PMI - Medium Impact
19:30 Michigan Consumer Sentiment - Medium Impact
