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Gold Under Pressure After NFP Beat – More Downside Ahead?Moments ago, the US Non-Farm Payrolls surprised to the upside at 147K (vs 111K forecast), while the Unemployment Rate dropped to 4.1% (vs 4.3% expected) . This stronger-than-expected labor market data reinforces the idea that the Fed has no immediate reason to cut rates. As a result, the USD( TVC:DXY ) strengthened, and gold came under renewed selling pressure. If the dollar momentum continues, Gold ( OANDA:XAUUSD ) may face further downside in the short term. In terms of Technical Analysis , Gold fell below the Resistance zone($3,350-$3,326) again after the announcement of US indices and is currently moving near the Support lines and 50_SMA(Daily) . In terms of Elliott wave theory , it seems that Gold has completed 5 impulsive waves in the one-hour time frame, and we should now wait for corrective waves . I expect Gold to fall again after the upward correction , and the Support zone($3,312-$3,290) could be the target. Note: Stop Loss (SL) = $3,365 Gold Analyze (XAUUSD), 1-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅ ' like ' ✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDShort
by pejman_zwin
18
GOLD (XAUUSD): Support & Resistance Analysis For Next Week Here is my latest structure analysis and important supports and resistances for Gold for next week. Resistance 1: 3356 - 3368 area Resistance 2: 3391 - 3403 area Resistance 3: 3443 - 3452 area Resistance 4: 3493 - 3501 area Support 1: 3230 - 3274 area Support 2: 3120 - 3177 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDLong
by VasilyTrader
3
XAUUSD is getting ready to explode to $4000Gold (XAUUSD) is trading around its 1D MA50 (blue trend-line) having practically been accumulating since the April 22 High. Ever since the 1D MA100 (green trend-line) turned into a long-term Support (2023), Gold has experienced similar Accumulation Phases another 3 times. On all of those occasions, the price broke out to the upside in the form of a Channel Up, reaching at least the 2.5 Fibonacci extension. With the 1D MACD close to forming a Bullish Cross around the 0.0 mark, which is the level that always started the Channel Up during those 3 previous Accumulation Phases, we expect the market to start breaking upwards and towards the end of the year hit at least $4000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
The bears will take the 3290-3280 area stronglyGold started to fall from 3342 during the day and fell below 3300 at one point. Gold is in an obvious short position, and during the London market, gold continued its downward momentum without any decent rebound. Gold is in an extremely weak state. In the absence of a rebound in the London market, I think New York is very likely to continue to fall. According to the current structure, gold is facing technical suppression of the head and shoulders in the short term, which greatly limits the rebound space of gold and suppresses the rebound limit within 3335. As the center of gravity of gold moves down, the resistance in the short term moves down to the 3315-3325 area. After breaking through 3330, the downward space has been opened up to a certain extent. So don’t be fooled by the false bullish candle that appear near 3330. Gold will inevitably continue to fall to the 3290-3280 area. The 3290-3280 area is bound to be won, so shorting gold is still the first choice for short-term trading. You can consider shorting gold with the 3315-3325-3335 area as resistance, and look to the target area: 3295-3285-3275.
OANDA:XAUUSDShort
by Trading_Steffen
The short position is losing money. What should we do?Gold hit the intraday low of around 3296 and then began to rebound. We can see that the rebound of gold is not strong, but it is relatively sustained, so gold has rebounded to around 3335. To be honest, I did short gold according to my plan and still hold a short position. Although gold has rebounded to around 3330, I don’t think my short gold trade has failed. As I said in the previous point of view, gold is facing technical suppression of the head and shoulders in the short term, which will suppress the rebound limit within the 3335-3340 area. So before gold stabilizes at 3340, I think the gold shorts still have the upper hand. So as long as gold stays below 3340, I think the gold rebound is a good opportunity to short gold. At present, gold is facing the resistance area of ​​3335-3340 and begins to show signs of stagflation. After consuming a certain amount of bullish momentum, the gold shorts may counterattack strongly again and stimulate gold to fall rapidly. Therefore, before gold breaks upward through the 3335-3345 area, we can still consider shorting gold, or continue to hold a short position in gold!
OANDA:XAUUSDShort
by Trading_Steffen
7/7: Key Zone – 3320 to 3350Good morning, everyone! Due to the U.S. market closure on Friday, price movement remained relatively subdued, and the week concluded with modest gains. As of this morning, gold opened higher but has since pulled back, and the price remains in a consolidation phase. Key technical levels for today: Resistance: around 3350 Support: near 3321 Short-term traders may focus on range-bound strategies between these levels. If a breakout occurs, follow the trend accordingly: If price breaks above and stabilizes above 3338, the market may shift its focus toward the 3400 psychological level; If price drops below and holds under 3332, there’s potential for a retest of the 3260 support zone. In terms of broader trend analysis, the MA20 and MA60 on the daily chart should be watched closely, as they currently serve as key dynamic resistance and support levels. Lastly, stay alert to any developments related to trade tariffs, as such news may significantly impact market sentiment and gold price direction.
FOREXCOM:XAUUSD
by China_MsWang
XAUUSD – High-Precision Sell Setup with 1:2.70 R/RGreetings, traders. After a brief tactical pause, we’ve identified a **high-conviction short setup** on **XAUUSD**. Despite the U.S. Independence Day holiday, structural momentum suggests there’s still room for meaningful movement in gold during today’s session. The risk-to-reward profile on this setup is exceptional — clocking in at **1:8.70**, it meets our highest-tier execution standards. If momentum stalls or price consolidates excessively, the trade will be manually closed by **23:00 (UTC+4)**, regardless of outcome. 🧠 Trade Parameters: • **Timeframe:** 1-Hour (H1) • **Direction:** Sell • **Entry:** 3337.09 • **Take Profit:** 3312.16 • **Stop Loss:** 3345.63 • **Risk/Reward Ratio:** 1:2,70 • **Trade Management Note:** Will be closed manually by 23:00 (UTC+4) if momentum conditions are not met. 🔗 Signal Source All trade setups are published directly by Velatrix Capital — a high-discipline trading desk focused on FX, crypto, and global indices. No opinions. No hype. Just statistically-grounded execution. All signals are posted via our TradingView desk: 👉 (www.tradingview.com) 📈 **We don’t chase hype. We build edge.** 🔔 **Subscribe for future setups and institutional-grade trade intelligence.** **Velatrix Capital**
OANDA:XAUUSDShort
by Velatrix_Capital
3
WEEK PLAN|Will This Gold Rally Collapse Into a Liquidity Trap ? Gold remains trapped between high-liquidity resistance and a strong order block below. While short-term bullish structure is forming, the weekly outlook remains complex due to upcoming high-impact events from the Fed and US labour data. Expect volatility and traps in both directions. 🧠 Fundamental Context FOMC Meeting Minutes (Wed 9 July): Market will look for rate cut clues. Unemployment Claims (Thu 10 July): A stronger labour market = stronger USD = bearish for gold. FOMC Member Waller Speaks (Thu 10 July): Any hawkish tone could cap gold upside. 📊 Key Zones Zone Role Notes 3,387 – 3,439 Sell Zone High liquidity, weak highs, ideal reversal trap 3,240 – 3,260 Buy Zone Strong OB, liquidity sweep, aligned with trendline support 3,365 Weekly High May reject or break based on macro catalyst 🛠️ Trade Setups (Entry Zones as Requested) ✅ 1. BUY GOLD Entry: 3,346 – 3,344 Stop Loss: 3,340 TP1: 3,356 TP2: 3,366 TP3: 3,376+ (Open Target) Rationale: Scalping long off micro demand, aiming for a short-term spike above liquidity. ✅ 2. BUY GOLD SCALPING Entry: 3,291 – 3,289 Stop Loss: 3,285 TP1: 3,299 TP2: 3,310 TP3: 3,320+ (Open Target) Rationale: Buy on breakout momentum before hitting higher sell-side zones. ✅ 3. SELL GOLD Entry: 3,389 – 3,391 Stop Loss: 3,396 TP1: 3,381 TP2: 3,371 TP3: 3,361 (Open Target) Rationale: Fade the breakout — fakeout zone targeting liquidity void beneath. ✅ 4. SELL GOLD Entry: 3,349 – 3,351 Stop Loss: 3,355 TP1: 3,339 TP2: 3,329 TP3: 3,319 (Open Target) Rationale: Short off weak rally, playing potential rejection near intraday high. 📅 This Week’s Events Date Event Likely Impact 9 July FOMC Minutes Fed tone → volatility spike 10 July Jobless Claims (233K) Strong number = gold downside 10 July FOMC Waller Speech Additional risk-on/risk-off flows ⚠️ Trading Strategy Use H1–H4 confirmations (CHoCH, BOS, FVG) before entries. Avoid entries 1h before and after red news. Focus on 3,260–3,439 range as key decision area for the week.
OANDA:XAUUSDShort
by EliseLunaTraders
Below 3360, short sellers still have profit potential!Although gold has steadily rebounded to around 3345, compared with yesterday's gold falling below 3330 again, the rebound in the short term is not strong; overall, gold is still in a weak and volatile pattern, with pressure from the upper side at 3350-3360; and there is technical buying support in the lower 3300-3290 area. It is under the influence of the resistance area and the support area that gold lacks continuity. So before gold breaks through effectively, I think both the long and short sides of gold have profit potential, so for the current short-term trading, we can temporarily maintain the high-sell-low-dregs trading within the range. 1. Consider shorting gold in batches with 3345-3365 as resistance, TP: 3330-3320-3310; 2. Consider going long gold in batches with 3325-3305 as support, TP: 3345-3355-3365
OANDA:XAUUSDShort
by Trading_Steffen
Gold fluctuates downward. Do not short blindly.Today, gold is in a consolidation downward trend, with the lowest point reaching around 3296; it has rebounded slightly to around 3310. From the overall market, gold is indeed in a short trend. However, do not continue to short, which is very dangerous. Because from the hourly chart, although the low point of gold is constantly refreshing, the key hourly chart support range position has not yet broken. So, here I may think that gold may still be tempting to short in the short term. There is still a possibility of a pullback here on the hourly chart. From the current point of view, there is still a probability of a pullback to 3320-30 before the range is broken. In terms of the next operation, I suggest that you can pay attention to 3320-30. However, if it really pulls up again, as long as it does not stand above 3330 again. Then, we can short here at 3320-30. On the contrary, if the rebound directly breaks above 3340, then be careful. The rebound may turn into a trend reversal, and it is very likely to replicate the rhythm at the beginning of last week.
FOREXCOM:XAUUSD
by Quaid_1
Week Opens with a Sharp Sell-Off – But Is It Really Bearish?At the start of this trading week, Gold took a significant plunge to $3306, breaking below the critical $3300 support and reaching as low as the $329x area. While this sharp drop may seem alarming, it is unlikely to signal a sustained bearish trend. Instead, this move could be a liquidity sweep, a common occurrence before the market reaccumulates. 🌐 Macroeconomic Landscape Impacting Gold: US Inflation Continues to Cool: This offers the Federal Reserve more flexibility for potential easing in the near future. FOMC Minutes are Coming This Week: Traders are eagerly awaiting insights from the Federal Reserve's meeting minutes to gauge any hints of a rate cut. Gaza Tensions Ease Temporarily: With geopolitical tensions easing, the demand for safe havens like Gold may slightly decrease. 🔸 Additional Factors: Trump’s New Tax Bill: The passage of Trump's tax reform has put additional pressure on US public debt, potentially impacting market sentiment. US–China Trade War: Delays in negotiations between the US and China may reduce short-term risk appetite among traders. Market Consolidation: Overall, the market seems to be in a consolidation phase, with a potential breakout on the horizon in the coming sessions. 📉 Technical Focus – Continuation Pattern (CP) Emerges From a technical perspective, a Continuation Pattern (CP) is forming, which typically suggests a temporary pullback before the price resumes its primary trend. Here's a breakdown of key levels: 3,336 Resistance Rejected: After failing to break the 3,336 resistance level, Gold quickly fell through the 3,323 support, testing the important 3,303 zone. 3,293 Support Zone: If the 3,293 level fails to hold, the next downside target will likely be the deeper liquidity zone around 3,278. This level could trigger a more significant buying reaction, providing a potential opportunity for bulls to re-enter the market. 🔑 Key Levels to Watch: Buy Zone 3291-3289: Stop Loss (SL): 3287 Take Profit (TP): 3299, 3310, OPEN Buy Zone 3244-3246: Stop Loss (SL): 3238 Take Profit (TP): 3255, 3263, OPEN Sell Zone Scalping 3337-3339: Stop Loss (SL): 3343 Take Profit (TP): 3325, 3313, OPEN Sell Zone 3362-3364: Stop Loss (SL): 3367 Take Profit (TP): 3353, 3341, OPEN 📊 Conclusion: The market is currently in a consolidation phase, with strong support and resistance zones in play. The recent pullback offers potential opportunities for both buyers and sellers, depending on how the market reacts to key technical levels. The next few sessions will be crucial in determining whether the market breaks out of this consolidation, and traders should stay alert to adjust their strategies accordingly.
OANDA:XAUUSDShort
by EliseLunaTraders
Gold lacks downside momentum: Next week's analysis & adviceGold trading is relatively light today due to the U.S. Independence Day holiday. On the downside, we continue to focus on the short-term support at the 3325 level, while the key resistance above remains in the 3345-3350 range, which was yesterday's breakdown point. The market has closed early today, and price action has been stuck in a range-bound consolidation. After plunging $40 on the back of bearish non-farm payroll data, gold stabilized and rebounded, recouping nearly half of the losses. This performance confirms that the downside space is limited. Currently, the market has returned to a oscillating upward pattern, and the weekly chart is likely to continue range-bound fluctuations. From a technical perspective, the 3325 level has formed a key support. The secondary retest overnight confirmed the bottom structure, and the gradual lifting of early session lows has also released a bullish signal. Looking ahead to next week, gold is expected to continue its bullish trend. If the 3325 support level below remains unbroken, one can look for opportunities to establish long positions. XAUUSD buy@3325-3330 tp:3340-3360-3380 Investment itself is not the source of risk; it is only when investment behavior escapes rational control that risks lie in wait. In the trading process, always bear in mind that restraining impulsiveness is the primary criterion for success. I share trading signals daily, and all signals have been accurate without error for a full month. Regardless of your past profits or losses, with my assistance, you have the hope to achieve a breakthrough in your investment.
OANDA:XAUUSDLong
by EvanField
1
Bank Holiday: Which Zone Will Hold as Liquidity Thins?XAUUSD – Awaiting Breakout as Market Stalls Post-Macro Storm Gold remains in consolidation mode following a barrage of high-impact macro events — from Trump's Super Bill approval to unexpectedly strong NFP data. Despite these catalysts, price action has stalled as traders weigh conflicting signals. With U.S. markets closed for Independence Day, liquidity remains thin — and that opens the door for liquidity grabs and fake breakouts. 🔍 Macro Analysis – Mixed Signals for Gold Trump’s Super Bill: Expected to fuel fiscal deficit → long-term bearish for USD → potentially bullish for Gold. NFP & UR Data: Surprisingly strong → Fed may delay rate cuts → bearish short-term for Gold. U.S. Holiday: Low liquidity means markets may range, fake moves are likely. Don’t chase impulsively. 🧠 Key insight: A lack of immediate bullish follow-through doesn’t invalidate the long-term upside. Market could be quietly accumulating... 📈 SMC Technical Outlook – Key Liquidity Zones in Play Price structure on H1 shows a clean CHoCH (Change of Character) and current price action is reacting near a reclaimed demand zone. There are two possible paths: Rejection near PDH / FVG area → SELL opportunity. Deep retracement towards SSL liquidity zone → Strong BUY setup. 📊 Key Levels to Watch 🔼 Major Resistance Zones: 3366 – 3368 (Scalp) 3388 – 3390 (Swing Reversal) 3362 – 3374 – 3394 (Upper Liquidity Sweep Area) 🔽 Major Support Zones: 3312 – 3310 (Scalp BUY) 3302 – 3300 (Primary BUY Zone) 3298 – 3295 (Invalidation Below) ✅ Trade Plan for Today 🟢 Buy Setups (Priority with Trend) Scalp BUY Zone: 📍 3312 – 3310 🛡 SL: 3307 🎯 TP: 3316 – 3325 – 3335 – 3345 – 3360 Swing BUY Zone: 📍 3302 – 3300 🛡 SL: 3298 🎯 TP: 3310 – 3320 – 3340 – 3360 – 3388 These align with SMC liquidity zones and fair value gap re-tests — a strong long bias remains valid above 3298. 🔴 Sell Setups (Only If Confirmed) Scalp SELL Zone: 📍 3366 – 3368 🛡 SL: 3371 🎯 TP: 3358 – 3348 – 3338 High SELL Zone: 📍 3388 – 3390 🛡 SL: 3394 🎯 TP: 3382 – 3375 – 3360 Use confirmation on lower timeframes. Don’t sell blindly into trend. 🔮 Bias for the Session 🟨 Primary Bias: BUY dips into 3300–3310 zone 🟥 Alternate: Short-term SELLs only from 3366–3390 zones with price rejection 💬 What Do You Think? Is this just a trap before the real breakout to 3400+? Or are we heading into a liquidity sweep before deeper correction?
OANDA:XAUUSDShort
by EliseLunaTraders
GOLD (XAUUSD): Potential Scenarios Explained Here is my updated technical outlook for Gold with potential scenarios. Bullish Scenario The price is currently testing a significant daily resistance cluster. Its bullish breakout and a daily candle close above 3368 will provide a strong confirmation. More growth will be expected then. Bearish Scenario For now, the market is consolidating on the underlined resistance. The price is stuck within a horizontal range on a 4H time frame now. Your bearish signal will be a breakout of its support and a 4H candle close below 3310. It will provide a strong bearish confirmation. The market might be weak and remain within a 4H range today. But, everything can happen, so watch carefully. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDLong
by VasilyTrader
1
Still short gold before breaking 3355After the release of NFP yesterday, gold began to fall sharply from 3352, reaching a low of around 3312; although it has gradually rebounded above 3340, the time span is not short, so the rebound is not strong; and the double top structure successfully constructed by gold in the 3365-3360 area in the short term still plays a technical suppression role in the short term, greatly weakening the rebound potential; and with the decline of gold yesterday, I think before gold recovers the 3352 starting point, gold will also be under pressure in the 3345-3355 area in the short term. If gold cannot successfully break through this area during the rebound, gold is expected to retest the 3330-3320 area again. Because of the US Independence Day, the gold market will be closed in advance today. It is expected that gold will not have a breakthrough today, so it may be difficult to break through the 3345-3355 area in the short term, so we can still continue to maintain the trading rhythm of shorting gold in terms of trading. So I think shorting gold still has a lot of profit potential. We can short gold with 3345-3355 area as resistance and look to the target area: 3335-3325-3315.
OANDA:XAUUSDShort
by Trading_Steffen
Non-farm data exceeded expectations. Will prices fall temporarilInformation summary: Affected by the US Independence Day, the June non-farm data was released in advance. This non-farm data surprised the market, far below expectations and previous values, with a significant increase in employment exceeding expectations and previous values, and a sharp drop in unemployment to 4.1%. The market bet that the July rate cut plan would be directly scrapped. After the employment data was released, the gold price quickly plummeted to $3,312, but the sharp drop in the market had poor continuity and ultimately did not form a unilateral decline. Market analysis: Due to the US Independence Day holiday, the US market was closed. In fact, the only thing left for us is the Asian and European markets. And today is the last trading day of this week, and the market is likely to maintain a state of consolidation. From the 1-hour chart, the price fell after testing the 3,360 high twice. The negative impact of the non-farm data accelerated the decline, and the decline did not continue, and a new support level was formed near 3,323 after the decline. At present, the price is impacting around 3,345, and the bulls are expected to rebound upward and return to the upward trend. I think the current market continues to rebound, with the lower low of 3323 as the dividing point, and high sell and low buy operations in the consolidation area of ​​3320-3350. This is the last trading day of this week. I wish all traders a perfect ending and a perfect weekend.
FOREXCOM:XAUUSDLong
by Quaid_1
7/3: Focus on Short Positions, Watch Support Near 3320Good morning, everyone! Yesterday, gold tested support near 3328 but failed to break below it effectively. The price then rebounded toward the 3350 level. At today’s open, gold briefly extended to around 3365 before pulling back. Technically: On the daily (1D) chart, the price remains capped by the MA20, with no confirmed breakout yet. Support levels below are relatively dense, and moving averages are increasingly converging, suggesting a breakout in either direction is approaching. Key intraday support lies in the 3321–3316 zone. On the 2-hour chart, we are seeing the first signs of a bearish divergence, indicating a need for technical correction. Much like Tuesday’s setup, there are two possible scenarios: If 3342–3334 holds, the price may extend slightly higher, intensifying divergence before pulling back; If 3337 breaks, we could see a drop toward 3320, where correction would occur through a direct decline. From a fundamental perspective, several high-impact U.S. data releases are scheduled for the New York session, which may increase volatility and make trading more challenging. Trading suggestion: For most traders, the safest approach is to wait for data to be released, then look for oversold rebounds or overbought corrections following sharp market reactions. This style requires patience and strong risk control—avoid being overly aggressive or greedy, as such behavior can easily lead to trapped positions or even liquidation.
FOREXCOM:XAUUSDShort
by China_MsWang
Gold at Key Level Before NFP – Big Move Loading ?📉 Fundamental Analysis Gold remains in a strong bullish structure, supported by multiple macroeconomic and political drivers: ADP Employment Report Missed Expectations: With a shocking -33K reading, market sentiment shifted firmly against the US Dollar, pushing gold higher. Fed’s Easing Outlook: Markets are now pricing in a 90% probability of a rate cut in Q3, weakening real yields and supporting demand for gold. Trump’s “Super Bill” Momentum: Political cohesion among Republicans has re-ignited fiscal stimulus expectations, fuelling concerns over long-term US debt sustainability—another tailwind for gold as a safe haven. 🧠 Smart Money Technical Framework (H1) Price has moved into a Premium FVG Zone, showing signs of potential exhaustion after forming a clear CHoCH and bullish BOS. The current zone (3,375 – 3,376) aligns with a mid-risk sell region, where price may experience short-term rejection before revisiting demand zones. Market structure suggests liquidity sweep potential towards the downside before any continuation of the larger bullish trend. 📊 Trading Strategy – Smart Money Zones & Key Levels 🔵 BUY SCALP: 3,334 – 3,333 🔴 SL: 3,329 ✅ TP: 3,340 → 3,344 → 3,350 → 3,360 🔵 BUY ZONE LOW RISK: 3,317 – 3,316 🔴 SL: 3,311 ✅ TP: 3,320 → 3,325 → 3,330 → 3,336 → 3,345 → 3,350 → 3,360 🔴 SELL SCALP ZONE: 3,375 – 3,376 🔴 SL: 3,380 ✔️ TP: 3,370 → 3,366 → 3,360 → 3,355 → 3,350 🔴 SELL ZONE HIGH PROBABILITY: 3,388 – 3,390 🔴 SL: 3,394 ✔️ TP: 3,384 → 3,380 → 3,376 → 3,370 → 3,366 → 3,360 📌 Notes: Be cautious ahead of NFP data and the upcoming US bank holiday—expect liquidity traps and sudden volatility. This setup is ideal for intraweek scalping and liquidity-based reversals. All trades follow Smart Money Concepts logic: premium vs. discount zones, CHoCH + BOS confirmations, and institutional order flow anticipation.
OANDA:XAUUSDShort
by EliseLunaTraders
Gold Breakout Retest – Will PRZ Trigger the Next Rally?Gold ( OANDA:XAUUSD ) attacked the Resistance lines and Resistance zone($3,350-$3,326) as I expected in yesterday's idea . Gold seems to have broken the Resistance zone($3,350-$3,326) and Resistance lines and is pulling back to this zone. In terms of Elliott Wave theory , Gold appears to have completed wave 3 and is currently completing wave 4 . I expect Gold to have a chance to rise back to the Resistance zone($3,394-$3,366) after entering the Potential Reversal Zone(PRZ) . Note: Stop Loss (SL) = $3,297=Worst SL Gold Analyze (XAUUSD), 1-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅ ' like ' ✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDLong
by pejman_zwin
23
Non-farm data is coming. Upward breakthrough?Information summary: ADP data supports the rise of gold. Secondly, the weaker-than-expected non-farm data has triggered people's hope that the Federal Reserve will cut interest rates earlier. The gold price hit the 3360 mark, then fell back slightly, and is currently fluctuating around 3350. This Friday is the Independence Day holiday in the United States. The non-farm data will be released on Thursday. Today, we will focus on this data, which will trigger a new trend. Market analysis: From the 4-hour chart, gold is currently in a suppressed state. However, it is not ruled out that it will be supported at the bottom as before, and then break through the upper suppression position again with the help of non-farm data. Therefore, the most critical position today is not above, but near the support of 3325 below. On Wednesday, the support near 3325 was tested many times but did not break down. If the price remains above this position today, the probability of an upward breakthrough is very high. Based on the current market conditions and the data to be released soon, Quaid recommends that everyone wait and see for a while and wait for the new trend to come. Of course, according to the current forecast data, this will support the rise of gold. A radical approach can also try a long strategy around 3345.
FOREXCOM:XAUUSDLong
by Quaid_1
I have shorted gold as expected and held on patientlyEven under the influence of the ADP data, which is bullish for the gold market, gold has not effectively broken through 3350, and even showed signs of falling back after rising several times. The resistance above is becoming more and more obvious, which may further weaken the market's bullish sentiment and confidence, thereby strengthening the dominance of the bears. Although gold has not effectively fallen yet, from the perspective of the gold structure, even if gold wants to rise, it still needs to be backtested and support confirmed before rising, and the current retracement is far from enough, so gold still has a need for structural retracement; and before the NFP market, gold rose slowly but was far from enough to break upward, and there was no volume support, so the illusion of gold rising may be to lure and capture more bulls; Therefore, out of caution, I try to avoid chasing gold at high levels; and I believe that shorting gold is still the first choice for short-term trading at present. And I have executed short trades in the 3340-3350 area according to the trading plan, and held it patiently. I hope that gold can retreat to the 3320-3310-3300 area as expected.
OANDA:XAUUSDShort
by Trading_Steffen