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XAUUSD ImbalanceThe recent price action of gold has been intriguing to many market participants, with a sharp decline in prices followed by a relatively swift recovery. A closer look at the technical indicators reveals that gold has indeed bounced back from the Anchored Volume Weighted Moving Average (AVWMA) and is now poised to head towards a state of imbalance. The AVWMA, a variant of the widely used Moving Average indicator, takes into account the trading volume of an asset while calculating its moving average. This makes it a useful tool for traders and analysts looking to gauge the strength of a trend. In the case of gold, the AVWMA has acted as a key support level, with prices bouncing back from it in recent sessions. Looking ahead, one of the most important factors to consider is the state of imbalance in the market. Imbalance occurs when there is a disparity between the buy and sell orders, leading to a sharp move in prices. With gold prices now headed towards this state of imbalance, traders and analysts are closely watching for any signs of a breakout. Overall, the technical analysis suggests that gold is currently in a bullish position, with several indicators pointing towards further upside potential. As always, it is important to keep a close eye on the market and stay up to date with any news or events that could impact gold prices.
PEPPERSTONE:XAUUSDLong
by TradeConfirmed
1
GOLD is no longer good We are living in the digital age, and we require digital money like Bitcoin. Shiny metal is beautiful, of course, but the internet is currently up and running. I remember the peak on gold in 2020, when the coin stores were full of people and there were big queues in front of the stores full of retail investors. It's not looking good for gold at all; another 17% drop is possible as per my technical analysis. According to my Elliott Wave analysis, if we want to stay bullish on this wave count, then the bulls need to defend the 1350 USD level. We are currently in the C wave of the corrective structure. 1350 USD is a strong support because: the start of the gap from 2019 + breakout level from 2019 + Wave 1 support from 2016 + Trendline from 2015 + 200 monthly MA! 200 daily/weekly/monthly MA is considered a very powerful support by huge institutions and hedge funds. This is a great opportunity for a swing trade in the future! Look at my ideas about Bitcoin and crypto's total market cap in the related section down below. For more analysis, hit "Like" and "Follow"!
OANDA:XAUUSDShort
by UnknownUnicorn2537518
72
XAUUSD Analysis (Local Setup)Hello friends. Please support my work by clicking the LIKE button👍(If you liked). Also i will appreciate for ur activity. Thank you! Everything on the chart. if we get a local update of the top (this is important for growth), we are waiting for a correction on which it will be possible to buy at least with a target for another wave of growth. If the update of the local top doesnt occur - setup will be cancelled. Target zone: 1760 - 1790 Stop: ~1625 (depending of ur risk). ALWAYS follow ur RM . Risk/Reward: 1 to 2 risk is justified Good luck everyone! Follow me on TRADINGView, if you don't want to miss my next analysis or signals. It's not financial advice. Dont Forget, always make your own research before to trade my ideas! Open to any questions and suggestions.
OANDA:XAUUSDLong
by trytofeelpositive
1
Gold - Major crash is prepared! -18%, channel is breaking down! On the weekly chart, gold is very close to a massive crash. I think the bulls have no power here and I don't even want to see a huge red candle. As you can see on the chart, there is a rectangle consolidation pattern with multiple touchpoints and also an ascending parallel channel that is currently breaking down! Next target is 1370 USD, and I think we will hit this target very quickly. After that, we want to see a strong bounce from this level, because otherwise we will go even lower! This is a bullish Elliott Wave count, so wave 4 should not go below previous wave 1 because this may invalidate this bullish scenario. Interest rates are growing, and so are bonds. We have a strong dollar and everyone prefers to hold cash, even with high inflation. This is not looking good for the stock market, crypto and gold at all. But you can still make money if you open a short position on the futures market or purchase some put options. Look at my ideas about Bitcoin and Ethereum in the related section down below. For more analysis, hit "Like" and "Follow"!
OANDA:XAUUSDShort
by UnknownUnicorn2537518
55
#GOLD ⭐️Let's see how GOLD is behaving. This is a 1D chart. (Mid Term) There is a solid resistance area on the way up, which requires massive buy volumes to reach and cross. There is only one support level on the way down, holding the value up. The price is at the local resistance zone, which might get rejected. If we pass this resistance level, after the confirmation, you can put the solid resistance level as your target. The marker is showing sell volumes for GOLD. The RSI shows that GOLD is below the 50 levels, the center. If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings: Current Market Price: $1855.57 Let me know your ideas. Good luck.
FOREXCOM:XAUUSD
by ShawnMCR
2