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Gold's Explosive Breakout: Is $2,550 the Next Stop?Updated Technical Analysis: XAUUSD (Gold Spot) 1. Market Structure and Key Patterns Weekly Flag Pattern (Higher Time Frame) Formation: On the 4H chart, we observe a textbook weekly flag pattern where the price consolidated in a downward-sloping channel (flag) after a strong bullish move (flagpole). This consolidation usually represents a temporary pause in the overall bullish trend, with a potential breakout to the upside signaling a continuation. Breakout Confirmation: The price has broken out of this flag, aligning with the broader market's bullish sentiment. This is a key signal for continuation traders, suggesting that the previous consolidation phase is complete, and the market may be resuming its upward trend. Ascending Channel (Lower Time Frame) Channel Dynamics: On the 15M and 1H charts, the price has been moving within an ascending channel, which indicates a series of higher highs and higher lows—a sign of a bullish trend. This channel has been respected multiple times, indicating that the market participants are recognizing and trading off this structure. Channel Breakout: The breakout above the channel’s upper boundary is critical, as it suggests that the bullish momentum is accelerating. This breakout aligns with the breakout from the weekly flag, adding confluence to the bullish outlook. 2. Key Levels and Liquidity Zones (LQZ) Resistance Zone (Broken) Previous Resistance: The blue rectangle on the chart marks a significant resistance level where the price previously struggled to break above. After several attempts and consolidations near this zone, the recent breakout indicates that the sellers have been overwhelmed by buyers. Potential Retest Area: The broken resistance could now serve as a support level. A retest of this zone could provide a high-probability entry for traders looking to join the trend. This area is crucial for validating the strength of the breakout. Liquidity Zones (LQZ) LQZ at $2,485 and $2,477: These zones, identified on the 15M chart, are areas of high trading activity, often leading to significant price reactions when revisited. The price did not retrace deeply into these zones before the breakout, indicating strong bullish momentum. 3. Implications of the Breakout Momentum Shift: The breakout above the resistance zone at approximately $2,509-$2,510, followed by a rapid upward move to $2,520, indicates a shift in market sentiment. The rapidity of this move suggests a possible short squeeze or significant buying interest pushing the price higher. Potential Targets: Short-Term Targets: Immediate resistance can be anticipated near psychological levels like $2,525 and $2,530. These levels often act as short-term hurdles where some profit-taking might occur. Longer-Term Targets: Given the alignment with the weekly flag breakout, the price could aim for more distant targets around $2,550 or higher, depending on how momentum sustains. 4. Risk Management and Trade Execution Entry Strategy: Reduced Risk Entry: Awaiting a pullback to the broken resistance zone around $2,509-$2,510 for a long entry. This approach reduces the risk by confirming that the previous resistance has turned into support. Aggressive Entry: Traders could enter on any minor pullbacks within the ongoing momentum, with stops placed just below the breakout zone or recent swing lows. This is riskier but capitalizes on the strong momentum. Stop Loss Placement: Below Breakout Zone: Stops should be placed just below the $2,509 level to protect against a false breakout. Alternatively, more conservative stops could be placed below the previous swing low around $2,497-$2,500, depending on risk tolerance. Trailing Stops: As the price moves in your favor, consider trailing the stop loss below higher lows on lower time frames (15M or 1H) to lock in profits while allowing the trade to breathe. 5. Momentum and Volume Analysis Volume Confirmation: Look for volume spikes accompanying the breakout. Higher volume supports the legitimacy of the breakout, whereas a lack of volume could suggest a potential for a pullback. 6. Mass Psychology and Sentiment Sentiment Dynamics: The breakout could be driven by a shift in market sentiment, with traders and investors who were previously on the sidelines now entering the market. This FOMO (Fear of Missing Out) can fuel further buying. Contrarian Signals: While the breakout is bullish, be wary of excessive euphoria. A sudden surge in buying could be followed by a sharp pullback as early buyers take profits. Monitoring sentiment indicators and social media trends can offer additional insights into potential sentiment extremes. Conclusion The current technical setup for XAUUSD is strongly bullish, with the breakout confirming the potential for further upside. However, risk management remains crucial, particularly in ensuring that stop losses are placed appropriately and that any pullback is closely monitored for signs of support. The alignment of the weekly flag breakout with the shorter-term ascending channel breakout adds significant weight to the bullish case, making this a high-probability setup for continuation trades.
OANDA:XAUUSD
by Adlercon333
3
XAU/USD 20 August 2024 Intraday AnalysisH4 Analysis: Analysis/Intraday expectation to remain the same as analysis dated 18 August 2024. -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish iBOS. After an iBOS (Internal Break of Structure) we expect a bearish pullback. Bearish CHoCH positioning is denoted with a blue dotted line. H4 demand zone is positioned the same as bearish CHoCH positioning. Intraday expectation: On a candle-to-candle view since iBOS, price is printing higher highs, therefore, wait until price indicates pullback. H4 Chart: M15 Analysis: Analysis/Intraday expectation remains the same as yesterday's analysis dated 19 August 2024. -> Swing: Bullish. -> Internal: Bullish. As mentioned in my analysis dated 16 August 2024, whereby internal structure was bearish. We needed to be mindful that H4 internal structure was bullish. Price has printed a bullish BOS and iBOS. Price has printed bearish CHoCH to indicate bearish pullback phase initiation. Intraday expectation: Price to react at discount of 50% EQ, or M15 demand level to target weak internal high. Price may seek liquidity at M15 supply level to confirm bearish pullback phase initiation. Alternative scenario: Price to target weak internal high. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
Sleeping Giant Awakes: Gold's Path to $2,800If you haven`t bought Gold before the previous breakout: Now I am optimistic that GOLD is on the cusp of reaching a new all-time high, with a target of $2,800 by year's end, driven by a significant breakout. The bullish sentiment is clearly reflected in the options chain for major gold miners! Provided that gold maintains its position above the crucial support level of $2,428, the bullish trajectory remains intact. We foresee gold not only surpassing its historical high of $2,483 in the near future but also advancing to $2,800. After lying dormant for many years, this sleeping giant appears ready to awaken and exhibit remarkable growth.
COMEX:GC1!Long
by TopgOptions
1
Gold could continue its riseLast week was marked by significant volatility in gold prices, with fluctuations amounting to hundreds of pips. However, on Friday, the bulls took full control, driving the price above the important milestone of 2500. Currently, the price is undergoing a minor correction and consolidation phase. I expect it to resume its upward trend once this period concludes. The 2480 zone offers strong support, and any dips into this area should be considered buying opportunities. The first target could be set at Friday's high of 2510, with a second target at the 2520 zone, which aligns with the measured target for the recent small triangle pattern.
OANDA:XAUUSDLong
by Mihai_Iacob
14
XAU/USD Outlook ICT ConceptsXAU/USD Analysis 💰 Welcome to Your Channel! Welcome to our channel where we delve into the intricacies of financial markets. Today, we focus on XAU/USD, dissecting its current price action to uncover strategic trading opportunities. Join us as we analyze key levels and market dynamics, aiming to refine our trading strategies and maximize potential gains. 💡 Previous Analysis Review: In the previous analysis, we anticipated an expansion higher, which successfully played out as the market took out the Previous Month High (PMH). This confirms the bullish momentum in the short term. However, after such a strong move, a retracement is likely. 📍Current Market Overview: • Current Price: XAU/USD is trading at 2,489.940, having recently peaked above the PMH. Key Levels: • PMH: The level has been breached, providing a signal for a possible reversal. • 4H Fair Value Gap (FVG): Located just below the current price, this gap is the first area to watch for potential support. • Daily FVG: Positioned further below, this level might act as a stronger support zone if the price continues to retrace. • PWL (Previous Week Low): A key level that could act as support during a deeper retracement. 🔍 Identifying Key Levels • PWH (Previous Week High): Recently swept, adding to the likelihood of a pullback. • PMH (Previous Month High): Breached, signaling a potential reversal. • PWL: Positioned around 2,424.000, this level could offer strong support during a retracement. • SSL (Sell-Side Liquidity): Positioned lower, indicating potential targets if the retracement extends. • 4H FVG & Daily FVG: These gaps serve as potential areas of interest for buyers during the retracement. 📊 Key Considerations • Post-PMH Breach: After breaching the PMH, the market often retraces to a key support area, which could either be the 4H FVG or the Daily FVG. • Potential Retracement Zones: The 4H FVG is the first area to watch for a reaction, but if the market fails to hold there, the Daily FVG and PWL become critical. • Sell-Side Target: If the retracement deepens, the SSL zone near the 2,353.500 level could be a key target for sellers. 📈 Bullish Scenario For the bullish scenario to continue: • Hold Above 4H FVG: The price needs to find support around the 4H FVG and resume its upward trend. • Rejection at Lower FVG: If the price retraces to the Daily FVG and finds strong buying interest, this could trigger another move higher, potentially targeting new highs. 📉 Bearish Scenario A bearish scenario should be considered if: • Break Below FVG Levels: If the price breaks below the 4H FVG and fails to find support at the Daily FVG, a deeper retracement could be underway. • Targeting SSL: A failure to hold above the Daily FVG could lead to a move targeting the SSL and potentially the PML (Previous Month Low) around 2,310.500. 📊 Chart Analysis Summary • Bullish Expectation: Requires a strong defense of the 4H FVG, with the market potentially finding support at the Daily FVG if needed. • Bearish Expectation: A break below these gaps could open the door for a deeper retracement, with the SSL and PML as potential targets. 📝 Conclusion: After the expansion higher and breach of the PMH, a retracement is expected. The 4H FVG and Daily FVG are the immediate areas of interest for potential support. However, if these levels do not hold, a deeper move towards the sell-side targets is likely. 🙏 Thank you for joining us! Exploring XAU/USD today highlighted the importance of effective risk management in trading success. Prioritize research, implement robust strategies, and seek guidance for confident market navigation. Stay tuned for more insights on our channel. Here's to profitable trading and continuous learning! ⚠️ Disclaimer The information provided here is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
OANDA:XAUUSD
by RealArmin
XAU/USD 19 August 2024 Intraday AnalysisH4 Analysis: Analysis/Bias to remain the same as yesterday's analysis dated 18 August 2024. -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish iBOS. After an iBOS (Internal Break of Structure) we expect a bearish pullback. Bearish CHoCH positioning is denoted with a blue dotted line. H4 demand zone is positioned the same as bearish CHoCH positioning. Intraday expectation: On a candle-to-candle view since iBOS, price is printing higher highs, therefore, wait until price indicates pullback. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bullish. As mentioned in my analysis dated 16 August 2024, whereby internal structure was bearish. We needed to be mindful that H4 internal structure was bullish. Price has printed a bullish BOS and iBOS. Price has printed bearish CHoCH to indicate bearish pullback phase initiation. Intraday expectation: Price to react at discount of 50% EQ, or M15 demand level to target weak internal high. Price may seek liquidity at M15 supply level to confirm bearish pullback phase initiation. Alternative scenario: Price to target weak internal high. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
XAUUSD 19/8/2024 price has created ATH?Last weekend we had a strong increase on Friday that broke the old peak to create a new ATH. This increase has caused the RSI indicator to enter the overbought zone. In my experience, when the price moves quickly and sharply while looking at the RSI entering the oversold zone, this is a sign of wave 3. - Currently we see the price falling to the 2500 zone, so we expect an ABC downtrend structure of wave 4. - I measured the wave 4 target at the 2485 - 2483 zone, after reaching the wave 4 target, we expect a wave 5 increase to complete the 5-wave uptrend structure. - I measured the wave 5 target at 2517 - 2520 and 2531- 2534 zones, these are the 2 target zones I expect to SELL down. Trading Plan BUY ZONE: 2467 - 2463 SL: 2457 TP1: 2493 TP2: 2500 TP3: 2517 BUY ZONE: 2485 - 2482 SL: 2475 TP1: 2500 TP2: 2509 TP3: 2517 SELL ZONE: 2517 2520 SL: 2527 TP1: 2506 TP2: 2500 TP3: 2484 SELL ZONE: 2531 - 2534 SL: 2541 TP1: 2519 TP2: 2500 TP3: 2484
OANDA:XAUUSDShort
by DEEKOP
XAU/USD Gold Mines Robbery PlanMy Dear Robbers & Traders, This is our master plan to Heist XAU/USD Gold Mines Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Plan A & Plan B for Long and Short entry. Our target is Red Zone for Bullish Entry Traders / Rob and Green Zone for Bearish Entry Traders / Rob that the zone is High risk Dangerous level, market is Trap / Consolidation / Trend Reversal at the level Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers / Traders and continue the heist plan, Use Trailing SL to protect our money. Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low for Bullish Setup and Swing High for Bearish Setup. Stop Loss : Recent Swing Low for Bullish Robbers/Traders & Recent Swing High for Bearish Robbers/Traders using 2h timeframe. Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style
FXOPEN:XAUUSD
by Thief_Trader
XAU/USD 19-23 August 2024 Weekly AnalysisWeekly Analysis: Swing Structure: Bullish. Internal Structure: Bullish. Price has continued to print all time highs with no indication of bearish pullback phase initiation. The first indication of pullback will be for price to print a bearish CHoCH which is denoted with a blue dotted line. I have previously mentioned that price could print further highs which would bring CHOCH positioning closer to current price and this is what price printed. CHoCH positioning has been brought close to current price action. Weekly Chart: Daily Analysis: -> Swing: Bullish. -> Internal: Bullish. Price has printed a further bullish iBOS. After bullish iBOS we expect bearish pullback. First indication, but not confirmation of bearish pullback phase initiation is for price to print a bearish CHoCH. Bearish CHoCH positioning, which is denoted with a blue dotted line, and 50% internal EQ are almost identical. We currently do not have any indication of price pulling back. Daily Chart: H4 Analysis: -> Swing: Bullish. -> Internal: Bullish. Price has printed a bullish iBOS. After an iBOS (Internal Break of Structure) we expect a bearish pullback. Bearish CHoCH positioning is denoted with a blue dotted line. H4 demand zone is positioned the same as bearish CHoCH positioning. Intraday expectation: On a candle-to-candle view since iBOS, price is printing higher highs, therefore, wait until price indicates pullback. H4 Chart:
OANDA:XAUUSD
by Khan_YIK
#XAUUSD Medium-term GOLD trends, new peaks, opportunities, risksGold analysis 19/08-23/08/2024: Last week, gold broke through the previous peak at 2484 and closed the candle at 2508. The likelihood of gold creating a new peak around 251x is very high. After forming the peak, gold will likely experience a significant correction. The price has a high chance of returning to the 242x area, which serves as a momentum-building phase to continue the uptrend. The main trading direction for this week will be BUY. Key price areas to watch: 2510 - 2520, 2477 - 2481, 2498 - 2505, 2424 - 2435. Recommended orders: Plan 1: SELL XAUUSD zone 2515 - 2518 SL 2521 TP 2507 - 2500 - 2490 - 2480. Plan 2: BUY XAUUSD zone 2477-2480 SL 2474 TP 2485 - 2495 - 2505. Plan 3: BUY XAUUSD zone 2424 - 2427 SL 2421 TP 2432 - 2450 - 2480 - 2567.
OANDA:XAUUSD
by oakpotshy
2
XAUUSD Bullish momentum started again**Monthly Chart** XAUUSD monthly candle closed as doji due to the sideway movement of this pair between the High 2387.78 and low 2286.83 levels. This has created indecision bias in the market. Due to geopolitics reasons, this pair has strong momentum to move higher in the next few months. Therefore, we shall assess this pair near supply and demand zones for better risk-to-reward trades. XAUUSD has reached a new record high this month at 2,483.74 on 17th July 2024. However, this monthly candle is still active and bullish. This still confirmed the long-term bias is bullish for Gold. Last week, we saw a big selloff in XAUUSD for profit-taking after it reached a new record high. While the long-term outlook for the XAUUSD (Gold) is still bullish. **Weekly Chart** Last week's candle closed bearish after testing the midlevel of the previous week's key reversal. It has also tested the IPA of the 1st July 2024 week at 2,353.195 before moving higher. This has confirmed that the sell-off was completed and the buyers are entering the market as it pushed XAUUSD higher. **Daily Chart** Last week's move was a continuation of the previous weekly sell-off move and only tested the relative daily low at around the 2,353.19 level before it turned around and started a bullish move. For this week I expect to continue to be bullish and we will probably see a new high formed above 2,500 level in the coming weeks.
OANDA:XAUUSDLong
by PropSignals
XAUUSD Where it is going first?**Monthly Chart** Last month's XAUUSD (Gold) candle closed as a large bullish candle after creating a new record high shy of the 2,500 level (round number). This indicates that traders will try to push the price higher to break the record high. This is in line with geopolitical reasons happening in the Middle East at the current moment. This month's candle, which is still active, tested 50% of last month's candle and tried to push higher again after a large sell-off last week (Monday—5th August 2024). **Weekly Chart** The last weekly candle closed as a bullish fakey candle (or low test in the supply zone), indicating a solid buy around 2400 levels for 300 pips up. However, the price must still break the low at around 2360 levels before it pushes strongly upwards. This week, we will examine the price movement for a better entry setup to buy from the demand zone. **Daily Chart** Friday's candle closed as an indecision doji after testing the IPA (or FVG candle), indicating an indecision move after large buys from the previous day. This week, I would like XAUUSD to move lower first to test the liquidity pool generated around the 2,360 level. This level has created a great buying opportunity before the price moves higher and creates a new high.
OANDA:XAUUSDLong
by PropSignals
4
Bitcoin's Golden Opportunity Lost? Bitcoin's price has been struggling to gain traction, even as traditional safe-haven assets like gold have surged to unprecedented heights. The yellow metal recently eclipsed the $2,500 per ounce mark for the first time ever, a testament to its status as a hedge against economic uncertainty and inflation. In stark contrast, Bitcoin has been trading sideways, raising questions about its suitability as a digital gold. The divergence between Bitcoin and gold is a stark reminder of the challenges facing the world's largest cryptocurrency. While often touted as a digital equivalent of gold, Bitcoin's price behavior has not mirrored the precious metal's performance. This disconnect has fueled skepticism among investors who once saw Bitcoin as a reliable store of value. Gold's rally is underpinned by a confluence of factors, including geopolitical tensions, inflationary pressures, and a weakening US dollar. These conditions typically drive investors towards safe-haven assets. However, Bitcoin has failed to capitalize on this trend, suggesting that it may not be as immune to broader market forces as many had hoped. Some analysts attribute Bitcoin's underperformance to a combination of factors, including regulatory uncertainty, the ongoing bear market, and the lack of clear catalysts for price appreciation. The cryptocurrency market has been plagued by volatility, and Bitcoin has not been immune to these fluctuations. Despite the recent price weakness, Bitcoin remains a divisive asset. Bullish investors continue to believe in the long-term potential of the cryptocurrency, citing its underlying technology and the growing adoption of digital assets. They argue that the current downturn is a buying opportunity and that Bitcoin will eventually resume its upward trajectory. However, skeptics contend that Bitcoin's price is largely driven by speculation and that the cryptocurrency lacks the intrinsic value of gold. They point to the fact that Bitcoin is a relatively new asset class with a limited track record, making it a risky investment. As the crypto market continues to evolve, the relationship between Bitcoin and gold will be closely watched. If Bitcoin fails to demonstrate its ability to function as a reliable store of value, it could face challenges in attracting institutional investors and gaining widespread acceptance as a legitimate asset class. Ultimately, the future of Bitcoin remains uncertain. While the cryptocurrency has the potential to disrupt the financial system, it must overcome significant hurdles to realize its full potential. Disclaimer: This article is for informational purposes only and does not constitute financial advice. It is essential to conduct thorough research or consult with a financial advisor before making investment decisions.
OANDA:XAUUSDLong
by bryandowningqln
Gold- Strong volatility, no trend change thoughYesterday was another highly volatile day for Gold. After initially breaking above the 2460 resistance and reaching a high of around 2470, the price dropped sharply to a low of 2433. Following an hour and a half of intense fluctuations, the price settled in the middle of the range. Despite these strong moves, the overall trend remains bullish, and I still anticipate a new all-time high and a break above 2500. However, this scenario could be delayed if there is a daily close below 2430.
OANDA:XAUUSDLong
by Mihai_Iacob
2
XAUUSD | GOLDSPOT | New perspective | follow-up detailGold (XAU/USD) prices surged to near $2,430 in Friday's New York session, rebounding after a turbulent week sparked by the Bank of Japan's surprise rate hike. But with the Fed's potential September rate cut looming, will gold continue its climb? The recent recovery highlights a firm near-term outlook for gold, driven by strong speculation that the Federal Reserve (Fed) will begin reducing interest rates in September. There is ongoing debate among investors about the Fed’s approach to rate cuts. Some are anticipating a more aggressive 50 basis point (bp) reduction, while others expect a 25 bp cut. According to the CME FedWatch tool, current 30-day Federal Funds futures data shows a 54.5% probability of a 50 bp cut in September. Additionally, projections for the year indicate a potential total reduction of 100 bps. In this video, I explored the current market sentiment, weighed the chances of both buyers and sellers in this volatile environment and discussed how to prepare for potential trading opportunities in the upcoming week. XAUUSD Technical Overview: This week, we're focusing on the $2,425 zone. This could be a make-or-break point just like it did last week. 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! #gold #goldprice #goldtrading #swingtrading #marketanalysis #fed #rates #economy #usdata #nonfarmpayrolls #tradingstrategy #technicalanalysis #investing #finance #goldinvestors #goldbugs #goldnews #marketupdate📺🔔💼 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.
PEPPERSTONE:XAUUSD
by darcsherry