GOLD (XAUUSD): Consolidation Trading
I see a perfect horizontal range on Gold on an hourly time frame.
After a test of its support, a tiny cup and handle pattern was formed.
Bullish breakout of its neckline gives a perfect bullish confirmation.
We can expect growth to 2506 now.
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Xauusdsignals
XAUUSD Our 2600 long-term Target is intact.It has been almost 2 months since our long-term buy signal on Gold (XAUUSD) where within the overall Channel Up, we called for the start of the new Bullish Leg (July 08, see chart below):
It is time to update this as the price is getting closer to our 2600 Target. A weekly pull-back within the Bullish Leg is to be expected and then final run to 2600 (could even be higher).
The symmetry inside the Channel Up has been remarkable and what's standing out has been the % pull-backs and waves of the smaller Channel Ups (Bullish Legs). As long as the 1D MA100 (red trend-line) held, the trend pushes for a Higher High. When it broke (closed a 1W candle below it), we had a long-term correction.
As a result, we stay committed to our 2600 Target and then will buy if the price pulls back near it but will take then loss and reverse to a sell if we get a 1W candle closing below it (and target the 1W MA50 (blue trend-line)).
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GOLD (XAUUSD): Bullish Accumulation Again?!
I see clear signs of a bullish accumulation on Gold again.
As previously, the price sets higher lows, setting equal highs.
Looks like the market is preparing for a breakout attempt of the underlined red resistance.
IF the price breaks and closes above that, it will be a strong bullish signal.
A bullish continuation will be expected at least to 2540 level then.
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GOLD (XAUUSD): Consolidation Continues
Quick update for Gold.
The market is currently stuck within a wide horizontal range on a 4H time frame.
After a test of the resistance of the range, we see a strong bearish reaction to that:
the price formed a double top pattern and broke its neckline.
I think that the price may drop to the support of the range.
Goal - 2484
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XAUUSD Time to turn bearish short-term.Just 2 weeks ago (August 13, see chart below), we turned bullish on Gold (XAUUSD) as the new Bullish Leg of its 12-week Channel Up started:
Now that our 2545 Target is very close to getting hit, the price should price its new Higher High and then start a technical pull-back in the form of its new Bearish Leg. Once the 1D RSI hits the 3-month Resistance Zone, we will have our sell signal.
Given that the previous Bearish Leg bottomed on the 0.618 Fibonacci retracement level, we set a rather modest Target at 2450 for our sell (quite higher than the projected 0.618 Fib).
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THE KOG REPORTTHE KOG REPORT:
In last week’s KOG Report we gave the resistance levels above and said if they held, we would see an opportunity to attack the support levels of 2470-75. It’s that support level we wanted to the long trades up into the 2520 and above that 2530 levels for the week. We gave KOG’s bias of the week and bullish above with target levels 2510 (complete), 2525 (complete) and 2540 which hasn’t been achieved as yet.
We completed numerous gold targets, the red box strategy gave us some extremely decent entries and exits for the scalps and once again, we managed to trade this following it’s path.
So, what can we expect from the week ahead?
We’ve had a nice close which hasn’t quite confirmed a further move upside as yet, so we’ll play the bank holiday with caution. We would like to see how price reacts at the 2520-22 region, and if rejected, there is potential there for this to correct back down into the 2500-5 price region. It’s this support level that is important, if held, we see an opportunity to then long back up towards the 2530-35 region as the first target.
It's those higher levels, 2530-35 and above that 2540 that we want to keep an eye on. If we see any sign of a structure change there, we'll want to short this again.
For this week we want to play a little defence on the markets, as it’s a bank holiday week and the last week of the trading month. The weekly and monthly close are really important to determine future price on this precious metal, so please, if you’ve followed us, you should have had a decent month, take a little step back this week and monitor price. We’ll be looking at key and extreme levels expecting the repercussions of Jackson Hole on Tuesday onwards.
KOG’s bias of the week:
Bullish above 2490 with targets above 2420 and above that 2430-35
Bearish on break of 2490 with targets below 2465
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
GOLD (XAUUSD): Bullish Movement to All Time High
Gold closed in a very strong bullish mood this week.
The price retested a recently broken horizontal resistance,
bounced and violated a resistance line of a bullish flag pattern on a 4H time frame.
Probabilities are high that the market will continue growing next week.
Next goal for buyers will be the resistance based on a current All Time High.
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Gold Analysis==>> More DumpsAs I expected in the previous post , Gold started its correction from the Potential Reversal Zone(PRZ) .
Gold has already managed to break the lower line of the ascending channel .
Also, Sell Signal is created by EMA(100) and SMA(100) .
I expect Gold to continue to correct and, at least, fall to the Targets I have outlined on the chart.
Note: We should wait for the Gold pump if Gold can break the Resistance zone($2,501-$2,493) and Downtrend line.
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.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
GOLD (XAUUSD): Strong Bullish Signal During the Asian Session
Gold retested a recently broken daily structure resistance that was based
on a previous all-time high yesterday.
During the Asian session today, the price formed a strong intraday bullish confirmation.
Retesting the underlined blue area the price formed a cup & handle pattern
and violated its neckline.
Now we see a nice bullish movement.
It may continue at least till Powell speech later on today.
I did not manage to trade this setup because I was sleeping when it was formed.
But it is a perfect example of a confirmation trading that I teach you and I hope
that those who trade the Asian session managed to recognize this signal.
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THE KOG REPORTTHE KOG REPORT:
In last week’s KOG Report we said we would be looking for that lower support level of 2420-25 to target, and if it held we felt the opportunity to long into the 2450-55 region and the extension of the move into the 2465-8 price points would be available. We got that move almost to the pip from the open, completing the move in the early part of the week.
During the week we update traders with the short potential trade from the order region, which again completed and then suggested going long again once we saw the structure support 2430-25 form. This move here gave traders the opportunity to target that all time high, completing numerous Excalibur targets along the way. One of which we had highlighted last week on the chart.
So, what can we expect in the week ahead?
For this week we’re going to keep it simple. Due to the lack of data up here we’ll have to modify and adapt as the market continues. We have potential resistance above sitting around 2515-20 and we now have the support level below sitting around the 2480-75 region which could be a potential target level for the retracement of this move, but price needs to hold this level. Breaking below it can correct this whole move to the downside, so if you are going to attempt going long, please make sure the set up is clean, and please, try not to go long up here unless there is that retracement. As you’ve seen, Red boxes help in identifying the key regions and give bounces a majority of the time. If the level is held, we see an opportunity to continue this move back up towards the 2520 and above that 2530 regions with extension of the move into 2540-45. These levels above we’re going to label as order regions but that’s yet to be confirmed.
Nice and easy this week, take your time with the trades, make sure the set up is right and clean. Try not to jump in just because you’ve identified a target, as we’ve said above, they can correct this whole move so lets play defence this week.
KOG’s bias of the week:
Bullish above 2475 with targets above 2510, 2525 and 2540
Bearish on break of 2475 with targets below 2450
As always, we’ll update you during the week.
Look out for:
KOG’s daily bias and targets
Red boxes – Our strategy which is proving to a huge hit with our traders and team
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 | GOLDSPOT | New perspective | follow-up detailGold is on fire! Central banks are scooping up gold at an unprecedented rate, fueling a massive bull run. In this video, we dive into the XAUUSD market, examining the fundamentals driving this surge, including:
🪙 Central bank demand: Learn why central banks are hoarding gold and how this impacts the market.
📉 Interest rate cuts: The Fed is hinting at rate cuts, and this is a major catalyst for gold.
🌎 Geopolitical tensions: Rising global instability is also bolstering demand for safe-haven assets like gold.
We break down the impact of these fundamental factors on gold prices and analyze the price action on the XAU/USD chart to uncover potential trading opportunities for the upcoming week.
XAUUSD Technical Overview:
This week, we're focusing on the $2,475 zone. This could be a make-or-break point. If gold stays above this zone: Bulls might maintain control, potentially pushing prices higher and setting up new highs. If gold drops below the zone then Bears might gain the upper hand in an attempt to retrace into the structure-support line of the ascending channel in the process. Join me as we explore these factors and potential opportunities in the gold market. Like, subscribe, and hit the notification bell for the latest analysis and insights!
📌 Follow my journey as I map out the next moves in this dynamic market!
#XAUUSD #Gold #Trading #TechnicalAnalysis #MarketAnalysis #GoldPrice #CentralBanks #Fed #JacksonHole #Investment #TradingStrategy #FXTrading📺🔔💼
Disclaimer Notice:
Trading in the foreign exchange market and other instruments carries a high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
XAUUSD made HISTORY above $2500 for 1st time ever! What's next?Gold (XAUUSD) broke last Friday above the $2500 threshold for the first time in its history. Amidst growing economic slowdown and geopolitical concerns, the yellow metal seems again to be winning the 'safe haven race' against its peers. But can it continue this aggressive rise?
To answer this we revisit today the April 15 (see chart below) analysis that helped us project the medium-term correction following the early 2024 rally:
The essence of this analysis was the high degree of symmetry in Gold's price action since the December 2015 Low. What helped us anticipate the April - June 2024 correction was the similarities of the Bull Phase that started after the October 2023 Low with the August 2018 - July 2020 Bull Phase.
The 2019 mid-Bull Phase correction took place after a +34.80% rise within the 0.5 and 0.382 Fibonacci levels. The December 2023 - Jan 2024 correction took place after a +32.70% rise and if we place it within the 0.5 - 0.382 Fibonacci level, we can assume that Gold is now on the final stage of this Bull Phase.
It technically tops at 2900 but we will be satisfied with a 2800 Target as proportionally it will be closer to the post 0.382 Fib rise of the previous Bull Phase (41.80% against 43.80%). Note that in all cases, the 1W MA50 (blue trend-line) held as Support and as long as it does, the trend will be bullish long-term.
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GOLD (XAUUSD): Detailed Technical Analysis
Gold is currently stuck on a key daily resistance based on the ATH.
Analyzing a price action, I see a clear bullish accumulation:
the price has set three equal highs already, keeping setting the higher lows.
At some moment, we may see a breakout attempt of the underlined
red resistance area.
A daily candle close above that will be an important bullish signal.
It will drive the prices higher, the next goal for the buyers will be a major rising trend line.
From a current perspective, it is 2500 level.
Alternatively, the market may initiate one more correctional movement.
I will post the update if I see any bearish confirmation.
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#XAUUSD/H4 Model 2 peaks appear, gold's correction rhythmAnalysis of the gold trend in the Asia-Europe session on 14/08/2024:
After forming a double bottom pattern at 2380, gold experienced a nearly 100-point increase. Yesterday, the PPI did not help gold break through the resistance zone of 2473-2475. If gold breaks the area of 2458-2460, it will officially confirm the double top pattern.
However, today's CPI is still a mystery. Is this a correction phase or just a fake breakout? The long-term trend remains a BUY, but short-term SELL trades can be made at the peak area.
Key price levels to watch: 2473-2475, 2444-2447, and 2430-2434.
Recommended orders:
Plan 1: SELL XAUUSD zone 2473 - 2475
SL 2479
TP 2468 - 2458 - 2445.
Plan 2: BUY XAUUSD zone 2444-2447
SL 2441
TP 2455 - 2468 - 2485 - 2509.
Plan 3: BUY XAUUSD zone 2430-2433
SL 2427
TP 2444 - 2458 - 2468 - 2509.
XAUUSD Next stop 2545.Two weeks ago (July 29, see chart below), we gave a strong buy signal on Gold (XAUUSD) right at the bottom of June's Channel Up:
The price hasn't yet hit the 2545 Target as it posted yet another Higher Low but is on good course to hit it, as the Higher Lows structure resembles that of June's. One more pull-back and we believe that Gold will then make its next technical Higher High at +8.30% (similar to the previous Bullish Leg).
Note that throughout this whole time, the 1D MA50 (blue trend-line) has been supporting and currently is just below the bottom (Higher Lows trend-line) of the Channel Up.
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GOLD (XAUUSD): Still Bullish Outlook
As I predicted on our Wednesday's live stream
Gold keeps going up.
Analyzing the intraday price action, I spotted one more bullish confirmation.
This time the price violated a support line of a wide horizontal range on a 4H time frame.
We see a positive bullish reaction after a retest of its broken upper boundary.
I think that the market will reach 2450 level soon.
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GOLD (XAUUSD): Detailed Support and Resistance Analysis
Here is my latest structure analysis for Gold.
Vertical Structures
Vertical Resistance 1: Rising Trend Line
Vertical Support 1: Rising Trend Line
Horizontal Structures
Support 1: 2348 - 2364 area
Support 2: 2333 - 2340 area
Support 3: 2265 - 2298 area
Resistance 1: 2468 - 2483 area
Consider these structures for pullback/breakout trading.
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Gold Needs Correction==>>Short-termGold is moving near the Heavy Resistance zone($2,484-$2,431) , Resistance line , and Potential Reversal Zone(PRZ) .
I expect Gold to go down to at least Monthly Pivot Point .
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.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
XAU/USD: New head and shoulders top is forming, ready to sellToday's Asian and European sessions have seen little volatility, with gold prices staying below 2400 and not testing 2420, indicating gold is still in a consolidation phase. Therefore, we should adjust our outlook accordingly.
The 4-hour gold chart shows a new head and shoulders pattern forming, with prices near the shoulder level. Historically, reaching the shoulder often precedes a new downtrend. This shoulder is near the 2400 level, suggesting a Sell around 2400.
Additionally, the 1-hour chart shows that the Fibonacci retracement of Monday's $95 drop places the 0.382 level right at 2400, reinforcing this idea.
Support levels to watch are 2370, then 2350. If 2350 breaks, further downside is expected.
If you have different views or questions, let's discuss the latest insights on GOLD
GOLD (XAUUSD): Key Support & Resistance Analysis
Here is my latest structure analysis for Gold.
Vertical Structures
Vertical Resistance 1: Rising Trend Line
Vertical Support 1: Rising Trend Line
Horizontal Structures
Support 1: 2348 - 2364 area
Support 2: 2333 - 2340 area
Support 3: 2265 - 2298 area
Resistance 1: 2468 - 2483 area
Consider these structures for pullback/breakout trading.
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XAUUSD Bull Cycle still intact, targeting above $3000Exactly 4 months ago (April 04, see chart below), we made a long-term bullish call on Gold (XAUUSD), after it confirmed the new Bull Cycle:
The consolidation that followed and successfully double bottomed like the November 2019 Support bounce, is now over and Gold has started the 2nd phase of this Bull Cycle. In March 2020 we had the Black Swan event of the COVID crash, and if we avoid such a danger again, we expect the bullish trend to continue.
The last Cycle's peak (August 03 2020) was just below the 3.0 Fibonacci extension. This gives us a rough Target of $3100, but of course this can be revised as we go, depending on the global macroeconomics and geopolitics.
Note also that the last Cycle's peak was formed when the 1W RSI made its 3rd overbought top above 70.00.
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