The opportunity for gold next week is here.
Hey, do you remember the perfect curve pressure on gold we talked about a few days ago at 1860? It's getting close now, so how should we view it next?
It's still a bullish trend, but with the arrival of the pressure level, the short-term trend of gold is likely to be suppressed first and then rebounded.
Short-term trading strategy:
It is suggested to focus on buying on dips next week, with short selling as a supplement, and the short-term key resistance level is around 1860-1870. For those who are trapped, this may be an opportunity. (As I do not know where your position is trapped, I cannot provide corresponding strategies. It is recommended to discuss with me directly.)
The short-term key support level is around 1845-1840. You can confidently buy on dips.
I will also pay close attention to the non-farm data next week and provide recommendations. Welcome everyone to leave a message.
TVC:GOLD OANDA:XAUUSD FXOPEN:XAUUSD
Xauusdforex
During the Super Data Week, will XAUUSD drop to 1804?
Powell will testify before the Senate Banking Committee on Tuesday on the Fed's semi-annual monetary policy report. He will then testify before the House Financial Services Committee on the same topic on Wednesday. The market will also digest the latest non-farm payroll report for February, which is widely expected to add 200,000 jobs, with an unemployment rate of 3.4%. The upcoming testimony of Fed Chairman Powell and the February employment report will guide the direction of precious metals.
The February employment report and Fed Chairman Powell's testimony in Congress this week should clarify whether recent comments about "continuing higher interest rates" are justified. In the short term, gold is still heavily dependent on data and the trend of the US dollar. If the Fed ultimately decides to raise interest rates, the trend of gold will be suppressed, and there will be a wave of downward movement.
Looking at the hourly chart of XAUUSD, the current trend is running within the range of 1840-1860. It is expected that the overall trend will not form an effective breakthrough before explosive news comes out. Therefore, there is a demand for a decline when the trend reaches around 1860. Short-term traders can operate by selling high and buying low in this range.
This week is the Super Data Week, with CPI, PPI, ADP, and NFP data, and the release of each data will directly affect the trend of gold, and is also the key to breaking the oscillation range. Personally, I will continue to pay attention to the release of data and the speeches of the Fed, and provide friends with the latest operational ideas. Thank you for your attention and support.
XAUUSD Next Possible MovePair : XAUUSD ( Gold / U.S Dollar )
Description :
Rising Wedge as an Corrective Pattern in Short Time Frame and Breakout the Lower Trend Line
Divergence
Break of Structure
Falling Wedge in Long Time Frame and Breakout the Upper Trendline and Retested
Completed " wxyxz " Corrective Wave
Will Reject from Fibonacci Level ( 61.80 - 78.60 % )
Gold is brewing long-term sentiment, and the upward trend will c
Today's market conditions are in line with my expectations yesterday. At present, the daily line is still rising. After the big rise broke the Bollinger Band on Friday, the technology is still performing strongly.Therefore, before the non-farm payrolls data affect the short-term direction of gold, I think gold will continue to fluctuate upward.
For the intraday market, the 4-hour cycle of Bollinger bands opened on the upper track, and the support of the 5- and 10-day unilateral moving average is the standard strong point, mainly bullish.
Operationally, it still continues yesterday's thinking, focusing on long positions at low levels. You can consider long positions on the 1850 line, and the first target is expected to be on the 1860-1865 line.
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XAUUSD Gold Next MovePair : XAUUSD ( Gold / U.S Dollar )
Description :
Break of Structure
Completed " 12345 " Impulsive Wave and Corrective Wave " A - xyz "
Bullish Channel in Short Time Frame as a Corrective Pattern
Selling Divergence in Short Term and Buying Divergence in Long Term
Bearish Channel in Long Time Frame
Rising Wedge
Exp FIAT
How is the trading of XAUUSD today?
XAUUSD broke through the resistance level after multiple tests of 1830 and rose today. As mentioned in a previous article, friends who shorted gold at high levels need to reduce positions or take profit near 1830. The long and short positions are fiercely contested at this level, and the current market trend is biased towards the long side. Attention should be paid to the resistance level of the previous high point of 1847, and it is not advisable to chase the upward trend. A light short position can be established when the price reaches 1847 for the first time, and then wait for the market to adjust to around 1830-1835 before following the trend to establish a long position.
Today's trading strategy: Establish a light short position when the price reaches 1847 for the first time, with the first profit-taking target at 1835, the second profit-taking target at 1830, and the stop-loss at 1852. Short-term trading should be emphasized on Friday, and do not be too greedy. Wait for the adjustment and then enter the long position at the appropriate time.
I have in-depth research on futures products such as cryptocurrency, forex, stock market, gold, and crude oil, and I also update some daily trading strategies. Thank you for your attention and likes. Friends with questions can leave me a message, and I will provide the most reliable advice to help you.
XAUUSD Gold Next MovePair : XAUUSD ( Gold / U.S Dollar )
Description :
Bearish Channel in Long Time Frame as an Corrective and Breakout the Upper Trend Line and Making its Retracement
Break of Structure
CHOCH
Following Falling Wedge as an Corrective Pat
Rejecting from the S / R Level
Divergence
It has Completed the " 12345 " Impulsive Wave and " A " Corrective Wave
GOLD SHORT TERM INTRADAY IDEAIntraday Analysis - GOLD - ( 2nd MAR 2023 )
Not the cleanest of price action to kick start the month , however HRHR buys played out above 1836 as per analysis but was short lived when mixed data was released during NY session. Will still be continuing its bias of bullish momentum as of now, always remember trend is your best friend 👍
Do not marry the bias though for longs as overall Gold is still bearish. ( ZOOM OUT )
Will be looking for an extended retracement on Gold if fundamental data released in the next couple of days before NFP shows a weak dollar. Gold could potentially retest 1852 - 1855 region. Potentially even 1860s if volume and momentum are in play. ( would be exiting longs positions by then )
HRHR BUYS AT 1832
MRMR BUYS AT 1836
SAFEST BUYS AT 1840
SAFE SELLS BELOW 1828
SAFEST SELLS BELOW 1820
All in all I do expected a retracement higher on gold to reach greater sell side liquidity zones. However if gold just melts , that will be best
XAUUSD Gold Next MovePair : XAUUSD ( Gold / U.S Dollar )
Description :
Break of Structure
It has Completed the " 12345 " Impulsive Wave and " A " Corrective Wave
CHOCH
Divergence
Following Falling Wedge as an Corrective Pattern in Short Time Frame and Breakout the Upper Trend will fall to Complete its Retest
Unable to Break the Previous S / R Level if reject then Sell
Gold: short selling from 1817-1818.
The short-term downtrend pattern of gold has not changed for the time being and is currently in a exploratory stage. As long as the price can find a suitable resistance level, gold will continue to decline. Therefore, the following suggestions can be given today: take action when the market provides opportunities, and watch and wait when there are no opportunities.
(1817-1818) range short, stop loss 3$, profit target 1814, 1810, 1805
MCX:GOLD1! FXOPEN:XAUUSD BIST:XAUUSD1! TVC:GOLD OANDA:XAUUSD
XAUUSD Gold Next Move ? Pair : XAUUSD ( Gold / U.S Dollar )
Description :
It is Following Bearish Channel in Short Time Frame as an Corrective Pattern and Rejecting from the Upper Trend Line
We have a Break of Structure with Retracement
Divergence
Completed " 1234 " Impulsive Wave
It is in the Consolidation Phase if breaks the Lower Trendline then Sell and if it Breaks Upper Trendline then Buy
Gold Price Forecast (week 27/2 - 3/3/2023)Gold continues to be under selling pressure when DXY is continuing to strengthen due to the pressure of the Fed to raise interest rates, it is likely that it needs to be stronger to cope with the US economic situation recently...
P/s: These are all personal opinions and are not bets or investment advice. There is never a concept of "certainty" in the market, so determining in advance the psychology of all orders can lose will help you better manage risk.
Huy Dinh
* 5 THINGS DECIDED A SUCCESS OF A TRADER:
1. Emotion Management
2. Risk management
3. Trading plan
4. Absolute Discipline
5. Mastering Probability
Trading recommendation:
Support level: 1,800.30 1,797.45 1,782.90
Resistance levels: 1,834.00 1,845.99 1,860.00
Trading recommendation:
Buy 1809 - 1808
Stop Loss: 1803
Take profit 1: 1823
Take profit 2:1830
Take profit 3: 1835
Sell 1827 - 1831
Stop loss: 1833
Take profit 1: 1823
Take profit 2:1820
Take profit 3: 1810
Note: Always set TP and SL in all trading cases
XAUUSD 1H SELL PROJECTIONReason Behind teh XAUUSD/GOLD Fall
1. RSI 14 Below 50 which tends the bearish trend in 1H time frame
2. Stochastic oscillator is overbought and ready to move down which confirm teh fall again
3. Strongly breaked 1820 which is last week low which pushes lower to teh montly Low oof 1800
Over Possible Outcomes
XAUUSD SELL @ 1813.70
Sl 1920
tp 1800
27th February 2023 Gold Trading Strategy
Analysis of the daily chart of gold reveals that the downtrend from the previous trading day continued, with a temporary slowdown at 1810. Currently, the market is still in a weak consolidation phase. Since the pullback from the high point, it is evident that the market has returned to the range of horizontal oscillations and adjustments seen earlier (1780-1810), with a total recovery of the previous $150 price increase. This has formed a large inverted V-shaped reversal, resulting in a wide-range volatile trend. However, it is clear from the MACD below that the energy bars for the downward trend have shortened, indicating a bottom divergence. Relatively speaking, there has been some rebound from the support level below. In the short term, we should focus on the 1810 and 1780 support levels.
Our recommended trading strategy is to consider both long and short positions. Specifically, we suggest:
Buy gold at 1808 and 1794, with a stop loss of $7 each and a take profit of $15 each.
Sell gold at 1819 and 1832, with a stop loss of $7 each and a take profit of $15 each.
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COMEX:GC1! MCX:GOLD1! BIST:XAUUSD1!
XAUUSD New Week Setup Pair : XAUUSD ( Gold / U.S Dollar )
Description :
Break of Structure
Completed " 12345 " Impulsive Wave and " A - wxyxz " at Fibonacci Level - 78.60% and Making its " B " Corrective Wave at the Demand Zone
Bullish Channel in Short Time Frame as a Corrective Pattern
Selling Divergence in Short Term and Buying Divergence in Long Term
Bearish Channel in Long Time Frame
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..
XAUUSDIn the previous analysis, in the same chart, it only touched the first target of 1888.23 and acted very precisely in the role of resistance.
How well the range between 100 and 127 Fibo kept the price fluctuating within itself.
Now we are witnessing the breaking of the ceiling of 1844.65, if it can create the support ranges of 1828.66-1833.04-1833.52, we can expect the targets of 1860.03-1852.78-1852.78-1848.86 after breaking the 1844.65 resistance. get the
It is not necessary to touch all the goals.
The entry trigger can be obtained from the lower time.
#XAUUSDChecking the micro-waves in 30 minutes and forming a positive divergence and weakening the dollar, we can expect a side range and corrective movement for now.
The maximum target for the current conditions is a range between the trend line and the target of 1872.10. In case of failure, we can expect the range of 1879.93.
Higher expectation now will be associated with higher risk. Erosive movements will be carried out in the form of completion of divergence and corrective movement.
XAUUSD Gold Next Move ?Pair : XAUUSD ( Gold / U.S Dollar )
Description :
Break of Structure
Bullish Channel as a Corrective Pattern with the Breakout of the Lower Trend Line and Retracement
Divergence
S / R Level
Impulse Correction
Completed Impulsive Wave " 12345 " and Corrective " AB - xyz " Waves
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..