XAUUSD quick pull-back is in order.Gold (XAUUSD) couldn't have gone better on our last call (October 14, see chart below) as after the expected minor pull-back to the 4H MA50 (blue trend-line), it rebounded and is on its way to our 2750 Target:
As however the 4H and 1D RSI got overbought, we expect a short-term pull-back. Especially the 4H RSI, as you see on this chart, is forming a pattern similar to the September 13 short-term peak sequence that was rejected back below the 0.236 Fibonacci retracement level but was contained/ supported above the 4H MA50.
As a result, we can take a quick sell and target 2705 (0.236 Fib). Notice though that the trend will remain bullish medium-term as long as the 4H MA50 holds, in case you don't want to engage into riskier short-term trades such as this one.
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Xauusdsignals
XAUUSD: Sell@2710-2720 Gold has broken above 2700, followed by a slight retracement. Currently, a potential double-top pattern is emerging. Mid-term indicators still show bullish momentum, but short-term factors favor the bears. The trade strategy is to continue shorting. If the price reaches the 2718-2724 range, increase short positions, with a target near 2700.
Double-Top Pattern: This is a potential bearish reversal signal, especially if the price fails to break above the previous high and begins to decline, signaling a possible trend change.
Gold Analysis==>>Correction!!!Gold moved as I expected✅ in the previous post .
In this post, I also use the Bollinger Bands Indicator , it seems that Gold reacts well to the lines of this indicator. So as long as Gold reacts to these lines, you can use this indicator .
Gold is currently moving in the Resistance zone($2,686-$2,670) and managed to break the Uptrend line .
According to the theory of Elliott waves, gold seems to have completed wave 5 .
The Gold chart shows three Regular Divergences(-RDs) . One of the most reliable is the Regular Divergence(RD-) in Bollinger Bands Indicator ( Divergence sell signals mostly form at the end of an upward trend, where the price chart forms a peak above the Bollinger upper band and another peak after, below the upper band. )
I expect Gold to drop to at least $2,652 after breaking the Support line .
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
Do not forget to put 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.
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XAUUSD: Key Resistance at 2698-2708Yesterday, gold successfully held the support level between 2668 and 2663 during its pullback and subsequently began a consolidation and upward trend. As highlighted in my previous analysis, the strategy was clear: if the price held above this support, we would go long; if it broke below, we would wait for a rebound to go short. If you followed this analysis, I trust you captured significant profits from this movement.
Currently, the price is approaching the crucial resistance level of 2700, where substantial selling pressure is anticipated. It's possible that the price may either break through and subsequently pull back or begin to retreat as it nears this level. Therefore, the prudent approach is to adopt a short position initially and then reassess the situation based on support levels to determine whether to transition into a long position.
Bulls Take Profits, Await Shorting Opportunities
Today's long position within the 2652-2646 range has been successful—congratulations to those who followed my strategy!
In trading, identifying strong signals is critical to profit. Without it, the market can be unforgiving.
Currently, the bulls are in control, but as soon as momentum shows signs of weakening, it will be time to shift focus and prepare for a short position. Stay vigilant and ready to act when the opportunity presents itself.
XAUUSD: Mainly short trading, target 2637-2629
During tomorrow's Asian trading session, the primary range is expected to be between 2654 -2644. There is significant resistance around the 2654 level, and if this resistance holds, the market should favor short positions.
Support is seen near 2643, and if this level breaks, the next target range would shift to 2637-2629. The market's inability to push through resistance at 2658 reinforces a bearish outlook in the near term.
XAUUSD Bullish Leg just started. Low risk buy.Gold (XAUUSD) gave us the short-term signal we wanted last week (October 07, see chart below) and after hitting our 2625 Target, it rebounded:
This rebound is technically the start of the new Bullish Leg of the 2-month Channel Up. If it repeats the previous Leg, then one last test of the 4H MA50 (blue trend-line) is possible before further upside, which is also illustrated by the 4H RSI fractals between the Accumulation sequences that preceded the rallies.
Based on the last two Bullish Legs, we should reach at least the 2.0 Fibonacci extension level before the next 4H MA50 correction. As a result our new medium-term Target is 2750.
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XAUUSD: Double Top/Head and Shoulders
From a broader perspective, gold currently resembles a head and shoulders pattern. However, if we focus on a smaller scale, it appears to be forming a double top. For now, we will base our market analysis on this smaller pattern to guide our trades.
Typically, after a double top forms, a rebound often follows. This is one of the primary reasons why I recommended a buy position before yesterday's close. When bullish momentum is strong, the price tends to rebound towards or even above the resistance level. In cases of weaker bullish strength, the rebound peak may fall below or only reach the resistance level.
Given the current state of the market, the bulls still hold decent power, making it likely that the rebound will test or even surpass the resistance zone around 2629-2638. This area can be considered as a potential exit point for long positions and an ideal entry point for shorts.
For short positions, the initial target can be around 2596, which was a previous resistance level during the uptrend. The mid-term target aligns with the low formed during the left shoulder of the head and shoulders pattern, around 2558. The final target would be near 2518, the starting point of the head and shoulders formation.
Every trader has their own preferred strategy, but the key is to align with the overall trend. Even if short-term volatility creates challenging situations, staying patient and trusting the broader market direction will lead to success in the end. The process may involve several tests, but perseverance and timing are crucial.
End of the Bull Run: Time to Short as Gold Enters
The bullish momentum in gold has come to an end, and we are now entering a correction phase. Based on the current Moving Average (MA) alignment, the price is likely to decline towards the 2620-2580 range. This presents an excellent opportunity for short positions.
I suggest taking advantage of this setup by consistently selling within the 2643-2675 range. Follow this strategy and capitalize on the forthcoming downtrend.
XAUUSD Rejection on the 4H MA50 gives a short-term sell signal.Gold (XAUUSD) appears to have entered a ranged phase, similar to the 'Accumulation Rectangle' pattern of August 19 - September 11. This (almost) 1 month consolidation was the accumulation pattern that the market used in order to fuel the next big Bullish Leg, supported by the 4H MA50 (blue trend-line).
The 4H MA50 was acting as a Pivot though during the Rectangle and a rejection on September 02 there, caused the last Support (bottom) test before it started the recovery process. We believe we might be on a similar stage as the 4H RSI is posting a similar Lower Highs trend-line.
As a result, we believe that the current potential rejection on the 4H MA50 is a short-term sell opportunity, targeting 2625.
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XAUUSD H4 - Sell SignalXAUUSD H4
Here is an update on Gold. We are approaching this $2,640/oz support price, and interim trading support zone indicated on the H4 and H1 timeframe. If we are able to break this convincingly, we should see price trade closer towards that $2,624/oz price in the near term.
However, we may well see price bounce from this zone as indicated before gearing up for shorts. The preferred play here is to sell from $2,670/oz and buy from $2,625/oz. Simply buying from the lowest area of support, and selling from highest area of resistance.
GOLD (XAUUSD): Important Support & Resistance Levels
Here is my latest structure analysis
and support & resistance levels on Gold for next week.
Vertical Structures
Vertical Support 1: Rising trend line
Vertical Support 2: Rising trend line
Horizontal Structures
Resistance 1: 2685 - 2700 area
Support 1: 2624 - 2633 area
Support 2: 2587 - 2601 area
Support 3: 2525 - 2560 area
Consider these structures for pullback/breakout trading.
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XAUUSD 15M BUY PROJECTION 04.10.24Reason for Gold Bullish
It is known to be a “safe-haven” asset, it is expected to increase its value in times of volatility and economic uncertainty. The XAU/USD pair tells the trader how many US Dollar (the quote currency) are needed to purchase one Gold Ounce (the base currency).
XAU/USD: Is the 2650 Break Sustainable or Driven by Emotion?Yesterday, OANDA:XAUUSD (Gold) broke back above the 2650 level, a point of significant psychological and technical importance. This level is critical due to the confluence of a horizontal support line and the falling trendline of the down-channel pattern.
While this upward break may seem promising, I believe it is not likely to be a sustainable move.
In my view, this breakout appears to be driven more by emotional reactions rather than genuine market demand.
As a result, I believe the current correction for Gold is not yet complete, and we could see another downward move in the near future.
From a technical perspective, the 2650 level acts as a critical "line in the sand." Should the price drop back below this level, the first target would likely be the recent low, with the potential for an extended decline towards the next major support zone around 2590. This area marks an important technical level that could offer stronger support if the downtrend continues.
At the time of writing, I am currently out of the market, and waiting for further clarification.
I am particularly looking for a decisive drop back below 2650, which would reinforce my bearish outlook and provide confirmation for a potential short trade.
XAUUSD / UNDER TENSTION IN THE MIDDLE EAST - 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
The conflict between Iran and Israel has caused a rise in gold prices by 1.80%. Gold, often seen as a safe haven asset, tends to rise in response to global instability.
Prices are currently attempting to reach $2,637 and $2,614.
The all-time high (ATH) price is mentioned as $2,686, with a supply zone extending to $2,720. The text suggests that if prices break above this ATH, they might enter a new supply zone between $2,700 and $2,720.
If gold fails to stay above the supply zone between $2,686 and $2,675 , a decline is expected, possibly reaching the demand zone of $2,637 and $2,614. If prices stabilize below these levels, further declines are predicted.
Despite short-term fluctuations and potential declines
the overall sentiment is bullish, indicating that gold prices are under upward pressure in the long term.
Supply Zone : 2,675$ and 2,686$.
Demand Zone : 2,637$ and 2,624$.
Accumulation Zone : 2,527$ and 2,474$.
This Week’s Profit Doubling PlanNews: Today's U.S. market will have a sharp bearish gold on the ‘U.S. ADP employment numbers for September’, but gold did not fall in time. This is not difficult to understand. After all, many investors in the market do not buy short-selling accounts after the interest rate hike.
But I think there will definitely be a wave of bearish trends in the future. At the same time, some international institutions will use this wave to increase shipments. After all, the U.S. economy is still recovering, so to a certain extent, it will suppress the rise of gold.
Judging from the bearish gold in the US ADP data tonight, the US economy has also been developing for the better recently.Therefore, there is a high probability that the speech of the Fed governor later will be bearish on gold.Then this Friday's ’U.S. September quarter-adjusted non-farm payrolls' data will also bearish gold.
So the overall gold trend this week is empty!Insist on short-selling!
Today's strategy: Short the gold market near 2660, and add a position near 2665!
Daily strategy, daily updates, remember to pay more attention,A lot of benefits!
XAUUSD Gold Technical Analysis and Trade Idea👀 👉 XAUUSD (Gold) is currently retracing into a potential buy zone. In the video we discuss what to look for and how to get involved when the next opportunity presents itself. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. 📊✅
THE KOG REPORTTHE KOG REPORT:
In last week’s KOG Report we wanted to short from the 2630-35 region into the lower levels, which worked but we only managed to get 2613 when we wanted 2610. Ideally, we wanted lower to then access the price action and look for the long, however, that long came early and we managed to capture the move both down and then up completing our bias target levels plus the extra pip capture into the highs to end the week.
A great week not only on gold but we completed 32 targets giving our traders a phenomenal pip capture across the markets. Nice, easy, clean trading!
So, what can we expect in the week ahead?
We've had some more geopolitical news over the weekend so there is a chance that we will see some opening gaps on the markets. We also have NFP this week, so towards the end of the week can expect the usual pre-event price action and ranging to form.
Now, due to us expecting these potential gaps, best practice is to let Monday early session do what it needs to do, instead plot the levels and look for the RIPs to capture the scalps, ideally on the red boxes.
We have the immediate levels above at 2665/7 resistance, which is a crucial level price needs to reject to continue the move downside! For that reason, we are giving a bias level of bearish below 2670 provisionally with an extension of the move into 2675 which is the flip. If we attack these levels, and get the reaction we need, we feel these levels will represent opportunities to short into the lower levels 2650-55 and below that 2630-35.
If broken above, we get that flip and we’ll be looking to target that 2701 level and above that we have 2707, which is where we may get further opportunities to attempt the short again.
Important: There is an extension of this downside move, and it’s below our bias level bullish above 2630-35. Oddly enough, we also have an Excalibur target sitting down there active! We will want to see how the market opens and what they do in the early session before we make up our minds on that move. NFP could through a spanner in the works for traders!
For now, we’ll stick with the above and as usual we’ll update traders through the week.
Look out for KOG’s bias of the day, KOG’s red boxes and the indicator levels which are published for the wider community.
KOG’s Bias for the week:
Bearish below 2670 with targets below 2650 and below that 2635
Bullish on break of 2675 with target above 2685 and above that 2701
RED BOXES:
2665 break above for 2672 / 2685 / 2701 / 2707
2650 break below for 2635 / 2624 / 2620
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
As always, trade safe.
KOG
XAUUSD Top of Channel Up. Small correction possible.Gold (XAUUSD) has reached the top (Higher Highs trend-line) of the 2-month Channel Up. The trend also shows a top on the Sine Waves sequence and the 1D MACD a potential Bearish Cross. This has been the most consistent sell signal in the past 4 months.
As a result, we turn bearish on Gold short-term, targeting a new Higher Low at the bottom of the Channel Up, a little over the 0.382 Fibonacci retracement level as the September 03 Low. Our Target is 2615.
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GOLD (XAUUSD): Important Support & Resistance Levels
Here is my latest structure analysis and important
vertical and horizontal supports and resistances to pay close
attention to on Gold next week.
Consider these structures for pullback/breakout trading.
❤️Please, support my work with like, thank you!❤️