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XAU/USD 29 August 2024 Intraday AnalysisH4 Analysis: Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024. -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish iBOS. After an iBOS (Internal Break of Structure) we expect a bearish pullback. Price has printed bearish CHoCH which indicates, but not confirms bearish pullback phase initiation Intraday expectation: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high. H4 Chart: M15 Analysis: Intraday expectation, analysis and bias remains the same as analysis dated 27 August 2024. -> Swing: Bullish. -> Internal: Bearish. As mentioned in previous analysis whereby we needed to be mindful that H4, following bullish iBOS, has yet to initiate bearish pullback, therefore, it would not be unexpected if strong internal low was to be targeted. This is exactly what price printed, printing a bearish iBOS. Price has printed bullish CHoCH indicating bullish pullback phase initiation. Intraday expectation: Price is in premium of internal 50% EQ with strong high remaining protected. Price to target weak internal low. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
XAUUSD 8/29/2024 Is the uptrend over? Yesterday as predicted, wave C was completed with very strong selling pressure, we did not reach the target of the first BUY zone, but at the second BUY zone, we had a big win of 210 pips, congratulations to all of us. Currently, the uptrend is still dominant. Looking at the current trend, we expect a 5-wave structure as shown on the chart. Besides, there is still the possibility of an ABC correction structure. - We have the price zone 2510.7 as a confirmation point, if the price closes above 2510.7, then we are in a 5-wave uptrend. If the price closes below 2510.7, then this increase is just an ABC correction and then the price continues to decrease when the structure is completed. - My current view is leaning towards a 5-wave bullish structure because I am expecting wave C to reach its target at 2493.7 and then a 5-wave structure will follow, then we have wave 5 target at 2536 - 2539, this is the first target and this is also the target area for us to SELL - If the current structure is an ABC correction structure, then we have wave C target at 2487 - 2484, this will be our BUY target - In addition, we have a large demand concentration area at 2509 - 2506, so this is also a target area for us to BUY SCALP Trading plan BUY SCALP ZONE: 2509 - 2506 SL: 2499 TP1: 2518 TP2: 2524 TP3: 2531 BUY ZONE: 2487 - 2484 SL: 2477 TP1: 2499 TP2: 2506 TP3: 2531 SELL ZONE: 2536 - 2539 SL: 2546 TP1: 2531 TP2: 2524 TP3: 2509
OANDA:XAUUSDLong
by DEEKOP
Missed the Gold Drop? Re-Entry Strategy After Key RejectionOverview: The provided XAU/USD charts show a market structure that's testing key liquidity zones (LQZ) and possibly forming reversal patterns. Your trading archetype, a mix of Bold Maverick and Analytical Rabbit, suggests that you likely lean towards taking calculated risks but need confirmation before executing trades. This archetype blend requires balancing decisive action with thorough analysis, especially when you miss an initial trade idea. 1. Multi-Time Frame Analysis: 4H Chart: The price reached a significant resistance at the 4H LQZ around 2531.595, forming a double top structure within a descending channel. This zone is a potential area for strong reversals. The recent rejection at this resistance indicates a potential shift in market sentiment from bullish to bearish. 1H Chart: There's a descending channel visible, suggesting a bearish trend in play. Price is currently at a 1H LQZ around 2494.550, which has acted as support in the past. The rejection at the upper boundary of the descending channel aligns with a confluence at the 4H resistance, enhancing the likelihood of a reversal. The current price action is consolidating around this 1H LQZ, indicating potential for either a bounce or a further decline. 15M Chart: Shows a recent sharp decline from the 4H LQZ, confirming the bearish momentum. The price is currently hovering around a minor support within the larger 1H LQZ. The rejection from the 4H resistance, coupled with the bearish momentum on this lower timeframe, reinforces the potential for further downside. 2. The Rule of Three & Patterns Within Patterns: The "Rule of Three" indicates that after three touches to a support/resistance level, a breakout is more likely​​. The charts show multiple touches on both the descending trendline and support level, suggesting an imminent breakout or breakdown. The structure seen in these charts is a descending channel within a larger potential double top, a clear example of "patterns within patterns." This amplifies the probability of a significant reversal​. 3. Entry Types and Missed Opportunity: Since you missed the initial trade, you could look for: Reduced Risk Entry: Wait for a pullback to the LQZ after a confirmed breakout below the current 1H LQZ. You could then enter a short position, targeting a lower liquidity zone or the next support level. This approach is less aggressive and aligns with your analytical nature​. Re-Entry Strategy: If the price revisits the 4H LQZ and shows signs of rejection again (like a bearish engulfing pattern or strong wick rejections), this could offer a new entry point for shorts. 4. Psychological Coaching: As a Bold Maverick, it's essential to stay disciplined and not chase the trade you missed. Instead, analyze the market's next move: Mass Psychology: Recognize that other traders might also be reacting to the missed opportunity, leading to a possible pullback (which you can capitalize on). Stay focused on your strategy and avoid the temptation to overtrade or enter prematurely out of frustration. Final Thoughts: Given the charts' current state, patience is crucial. Wait for the market to present a clear re-entry opportunity that aligns with your mix of risk-taking and analysis. Watch for a strong, confirmed break below the 1H LQZ or a pullback to the 4H LQZ with a bearish confirmation before entering your next trade.
OANDA:XAUUSD
by MommaPreneur
How I Nailed a Perfect Breakout Trade Using a Simple Strategy*The following Analysis is made by my Trading BOT* Analysis of Your Trade: Descending Channel: Formation and Breakout: The descending channel is well-defined, indicating a corrective phase following an impulsive move. The breakout above the channel suggests a potential reversal or continuation of the prior trend, which appears bullish. Entry Timing: You entered the trade after the breakout from the descending channel. This entry aligns with a strategy to buy at the break of a corrective pattern, capitalizing on the resumption of bullish momentum. Resistance Zone (Blue Area): Initial Resistance Encounter: The blue horizontal line represents a resistance zone where price consolidated and failed to break higher on the first attempt. This is a good spot to watch for confirmation of a breakout or reversal. False Breakouts: There are some upper wicks visible in this resistance zone, indicating possible false breakouts or liquidity grabs. This suggests that many traders might have been stopped out before the true breakout occurred. Price Action Post-Breakout: Sharp Move Down: After the breakout, price made a sharp move down to retest the previous resistance (now turned support), which aligns with the principles of market structure where old resistance becomes new support. Correction and Continuation: The downward move appears corrective in nature, forming a series of lower highs and lower lows within a descending channel, after which the price breaks out and moves upwards sharply. Risk and Reward Considerations: Stop Placement: If your stop loss was placed below the previous swing low or the bottom of the descending channel, this would be a strategic placement to avoid being stopped out by market noise. Take Profit: Your target seems to be well-placed, considering the previous highs or a key Fibonacci level. The green area likely represents the take-profit zone. Volume Analysis: Confirmation with Volume: The volume spike during the breakout from the descending channel and the subsequent move up indicates strong buying interest, which is a good confirmation signal. Key Takeaways for Future Trades: Pattern Recognition: Identifying descending channels and their breakouts is a strong skill that can be leveraged in various time frames. Risk Management: Your trade shows a good understanding of risk management, especially if stops were placed beyond significant levels to avoid market noise. Confirmation Signals: Waiting for volume confirmation during breakouts is an excellent strategy to avoid false moves. Suggestions: Multiple Time Frame Analysis: Ensure that your lower-time-frame trades are aligned with the higher-time-frame trends or setups to increase the probability of success. Post-Trade Analysis: Continue reviewing your trades like this to refine your entry and exit strategies, especially around key zones like support and resistance.
OANDA:XAUUSDEducation
by Adlercon333
XAU/USD 28 August 2024 Intraday AnalysisH4 Analysis: Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024. -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish iBOS. After an iBOS (Internal Break of Structure) we expect a bearish pullback. Price has printed bearish CHoCH which indicates, but not confirms bearish pullback phase initiation Intraday expectation: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high. H4 Chart: M15 Analysis: Intraday expectation, analysis and bias remains the same as analysis dated 27 August 2024. -> Swing: Bullish. -> Internal: Bearish. As mentioned in previous analysis whereby we needed to be mindful that H4, following bullish iBOS, has yet to initiate bearish pullback, therefore, it would not be unexpected if strong internal low was to be targeted. This is exactly what price printed, printing a bearish iBOS. Price has printed bullish CHoCH indicating bullish pullback phase initiation. Intraday expectation: Price is in premium of internal 50% EQ with strong high remaining protected. Price to target weak internal low. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
XAUUSD 8/28/2024 Has the price started a new trend? Looking at H1, we see a completed 5-wave structure followed by a correction structure. Currently, we have 2 possibilities that can happen with the current price structure Case 1, we have a Flat correction structure with peak B equal to peak 5 as shown on the chart. Then we need to wait for the price to complete wave C to be able to trade. In this case, it is confirmed when the price breaks through the 2503.9 zone - Case 2 is that the price has completed the ABC correction wave at the 2503.9 price zone and the price is currently in a 5-wave uptrend structure. If so, we have the current correction wave as correction wave 2 in a new uptrend structure, then we expect the price to break through the 2526.6 zone to create a new higher peak. And this case is confirmed when the price breaks through 2526.6. Combining the possibilities we have the following trading targets. Pay special attention because the current price structure is still unclear, requiring us to manage the transaction closely. SELL ZONE: 2536 - 2539 SL: 2546 TP1: 2527 TP2: 2519 TP3: 2523 BUY ZONE: 2512 - 2509 SL: 2502 TP1: 2519 TP2: 2531 TP3: 2536 BUY ZONE: 2498 - 2495 SL: 2488 TP1: 2509 Tp2: 2519 TP3: 2531
OANDA:XAUUSDLong
by DEEKOP
Gold's retreat continuesSan Francisco Fed President Mary Daly said on Monday that the Fed must "carefully" complete its work to control inflation, noting that rising unemployment is increasingly becoming a risk. Chicago Fed President Goolsbee is still waiting for inflation to cool further, which is part of the process to open the door to rate cuts. Goolsbee told CNBC that he was "privately optimistic that we will see improvement in inflation" and that he was hopeful that the Fed would be "slightly more confident on inflation" and believed that pressure was declining after being higher than expected at the beginning of this year. Cleveland Fed President Loretta Mester still believes that the Fed needs to continue to actively sell mortgage bonds as part of its efforts to continue to reduce the size of its balance sheet. These bonds were purchased to restore market function and stimulate the economy after the outbreak of the new crown epidemic. As government debt continues to grow and geopolitical tensions remain intensified, more countries will reduce their investment in the US dollar. As investors wait for the Federal Reserve to launch a new round of easing cycle, the global gold spot market remains well supported, and central banks in many countries continue to buy gold and reduce their investment in the US dollar. Gold will be sensitive to US PCE data, but this will not stop its long-term upward trend. While waiting for the latest inflation data such as the PCE in May in the United States to be released on Friday, the gold market has fallen into a stable state. Technical analysis of gold: Yesterday, gold had a volatile downward trend, and the trend was completely under control, as everyone witnessed! Yesterday, gold opened at $2,321. In the morning, gold slightly retreated to $2,317 and then started a volatile rebound trend. The highest rebound in the European session touched the $2,332 line and then started a wave of decline. We also entered the market precisely at $2,331! Gold fell as expected, and the lowest decline in the European session touched the $2,320 line. We made a big profit on our short orders! Gold in the US market did not go out of a continued market, but continued to start a volatile trend. The range was $2,320 to $2,335 and ended in a volatile trend. It finally closed at $2,333. The daily line closed with a long lower shadow line. After this pattern ended, the current downward trend of gold remained unchanged. From the daily line pattern, the rebound will continue to give us a good opportunity to short! Gold rebounded yesterday, but the bull market is not sustainable. Gold is just a rebound. Gold has not reversed yet. The rebound in the morning continues to be short. Gold 2300 will eventually break. Let's wait and see! The moving average of the gold 1-hour chart is about to form a dead cross downward. Once the dead cross is formed, the gold shorts will also exert their strength. Gold 2300 will eventually be difficult to maintain and will be broken. Gold rebounded yesterday and was still under pressure from the 2335 resistance, and the moving average resistance also moved down to around 2336; gold rebounded in the morning and continued to short near the 2335 resistance. On the whole, the short-term operation strategy for gold today is to focus on rebound shorting and callback longing. The short-term focus on the upper side is 2335-2341 resistance, and the short-term focus on the lower side is 2295-2306 support.
FXOPEN:XAUUSDShort
by Kevin-Traders
Will the price of gold still fall today?U.S. data released on Thursday showed that the number of Americans filing for initial jobless benefits in the week ended June 15 was 238,000, compared with expectations for 235,000. The pace of U.S. homebuilding fell to its slowest pace in four years in May as higher interest rates took some of the momentum out of the housing sector earlier this year. Data last week showed some easing in labor market and price pressures, while weak retail sales data released on Tuesday showed that economic activity remained sluggish in the second quarter. While the Federal Reserve is leaning toward one rate cut, market speculation suggests two cuts could come, driven by slowing inflation and cooling economic conditions. These factors have kept traders on their toes, awaiting upcoming economic reports for clearer clues. Precious metals bulls became more confident later in the week after data earlier this week showed weak U.S. retail sales. According to CME Fed's "FedWatch," traders are now pricing in about a 64% chance of a September rate cut by the Federal Reserve. Falling interest rates reduce the opportunity cost of holding gold as it does not earn interest. Rising geopolitical risks have helped gold prices rise. Tensions are rising in the Middle East as Israel threatens to launch an attack on Hezbollah in Lebanon. This, coupled with the recent agreement between Russia and North Korea, may increase the appeal of gold, which is currently trading near key resistance levels. Despite the rebound in the US dollar, gold prices still hit a new high this week. The Fed's expectations of a rate cut in September are good for gold. Geopolitical risks and political uncertainty in Europe also provide support for gold. Gold market trend analysis: Gold technical analysis: Gold has recently collapsed from the high of 2388, and fell to around 2287 to be supported. This week did not continue the decline, but rebounded with a slow and volatile rise. The next day, there was a continuous rise, successfully breaking the 2450-2388 downward channel, and the highest has returned to around 2365, and stabilized at the key point of 2342. Gold has currently broken through the key points of 2345-2355, and the 4-hour continuous rise has opened up the Bollinger upper rail space. The daily line also ended with a big rise, and the MA5-MA10 moving average maintained a golden cross. Short-term bulls have regained their upward momentum, and bullish sentiment is relatively optimistic. What needs attention is that today is Friday, beware of the sharp decline and the appearance of black swans. ​Yesterday, it was explained that the price of gold fell into the end of the triangular wedge consolidation. Sure enough, the price breakthrough ushered in a wave of accelerated rise. There is no pursuit of long prices. After the price rises, there will be a drop and then it will rise again. The price did not lose the key price of $2323 mentioned in the morning, so it will continue to rise. The price continued to rise in the second half of the period, and the hourly chart bulls rose in large volume. It is very certain that at present, under the premise of the bullish trend of the daily line in the medium term, the short-term price has left the line area. The next step is to pay attention to where this wave of bulls will rise! But for us, we only need to pay attention to the structure of the one-hour pattern. Only when the top pattern appears at the one-hour level in the future market can the end of this round of gains be established! On the whole, the short-term operation strategy of gold today is recommended to be mainly short-selling on rebounds, supplemented by long-selling on pullbacks. The short-term focus on the upper side is the 2365-2367 line resistance, and the short-term focus on the lower side is the 2323-2326 line support.
FXOPEN:XAUUSDShort
by Kevin-Traders
XAUUSD:If it cannot break through the 2525-2531 range, go short Overall, gold's movement today hasn't been significant. After entering the resistance zone, it hasn't managed to break through. Currently, the 30-minute chart shows signs of turning bullish, while the 2-hour chart indicates that the bears are gaining momentum for an attack. So in tomorrow's trading, if the price lingers around the resistance level without breaking through for an extended period, there's a high probability of a larger drop compared to today's intraday decline. The trading strategy is quite straightforward: focus on the strong resistance area between 2525 and 2531. If weakness appears, go aggressively short, targeting below 2500.
OANDA:XAUUSDShort
by Mia-Signal
XAU/USD 27 August 2024 Intraday AnalysisH4 Analysis: Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024. -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish iBOS. After an iBOS (Internal Break of Structure) we expect a bearish pullback. Price has printed bearish CHoCH which indicates, but not confirms bearish pullback phase initiation Intraday expectation: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bearish. As mentioned in previous analysis whereby we needed to be mindful that H4, following bullish iBOS, has yet to initiate bearish pullback, therefore, it would not be unexpected if strong internal low was to be targeted. This is exactly what price printed, printing a bearish iBOS. Price has printed bullish CHoCH indicating bullish pullback phase initiation. Intraday expectation: Price is in premium of internal 50% EQ with strong high remaining protected. Price to target weak internal low. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
continued decline from the level continued decline from the level Now the situation in the gold market is characterized by a high level of volatility. After the recent rise in gold prices, investors are starting to keep a close eye on the resistance level, which could become a key decision-making point. Against the backdrop of uncertainty in the global economy caused by rising interest rates and inflationary pressures, gold continues to retain its appeal as a safe-haven asset. Nevertheless, possible price fluctuations depending on macroeconomic news could create selling conditions at resistance levels. Investors should analyze the data to determine the optimal moment to trade.
FXOPEN:XAUUSDShort
by seventhlab
Gold creates new bullish wave near record high SHORT...Gold prices are rallying higher, with the prospect of reaching the record high of 2,531 again. More advances may find resistance at the next round numbers of 2,600 and 2,700. However, the technical signals are mixed. The stochastic oscillator is heading south from the overbought region; however, the RSI is ticking higher, approaching the 70 level. Moreover, the MACD oscillator is holding above its trigger and zero lines. The 20- and 50-day simple moving averages (SMAs) are pointing higher, while the current market price is standing well above the 200-day SMA. In the negative scenario, a drop beneath the previous high ...
OANDA:XAUUSDShort
by ShumbaFx07
XAUUSD I Psychological level 2550 or 2600 Short Welcome back! Let me know your thoughts in the comments! ** XAUUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
FOREXCOM:XAUUSDShort
by BKTradingAcademy
8
XAUUSD: 26/8 Today's Market Analysis and StrategyTechnical analysis of gold Daily resistance 2550, support below 2450 Four-hour resistance 2550, support below 2494 Gold operation suggestions: Gold opened today with a slow rise and shock pattern, and today's trend should be consistent with the trend at the end of Friday. Today we follow the trend to go long, but we are not in a hurry to enter, waiting for the opportunity to enter. Judging from the current trend, today we will focus on the short-term support of 2501 below, and focus on the suppression of last week's high of 2531 above. Continue to go long after the retracement. The market is changing rapidly, so observe the reaction of gold. BUY:2494near SL:2490 BUY:2500near SL:2494 BUY:2507near SL:2500 Technical analysis only provides trading direction! This signal is not a real-time trading guide, so please use a small SL to test the signal
OANDA:XAUUSD
by ActuaryJ
1