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Will Gold Hold at 2630? Key Levels for Bulls and BearsI'm eyeing a sell opportunity in gold (XAUUSD) , targeting the 2660 level for an ideal short entry. The price is expected to dip towards 2630 , a significant support zone, where a potential reversal could occur. If the market finds strength there, we may see a bounce as buyers step in. Geopolitical tensions continue to support gold's safe-haven appeal, but a stronger dollar or global risk-off sentiment may keep downward pressure in the short term. Monitoring price action closely around these levels for potential setups.
FOREXCOM:XAUUSDShort
by bluechipfx
Gold price today: Continuing momentum!Ben hello everyone. Today, gold price is tending to decrease, after not passing the resistance vertices of 2790-2750, the price has begun to decrease and currently trading at $ 2728. This decline takes place before important events such as the US presidential election and the interest rate of the US Federal Reserve (Fed). As seen on the 2 -hour chart, it can be seen that gold price is still reacting around EMA 34 and the discount has not been broken, showing that the downtrend has not ended. Due to these factors, according to Ben's personal opinion, it is expected that gold price will continue to decrease in the near future, which is likely to reach about $ 2708 lower than $ 2709.
OANDA:XAUUSDShort
by Bentradegold
2
Intraday Trading Setup: Key Support and Sniper Shot Targets Support Level: The support is currently set at 2659. This level is critical because if the price holds above it, there is potential for upward movement. It's a key point for price stabilization. If the price drops below this level, we need to be cautious and reassess, but the market can still reverse and go higher after testing this zone. First Target (2662 - Sniper Shot): The first target I’ve set for today is 2662, which I am calling a sniper shot. This is a very precise level where I expect a possible breakout or a strong reaction. If the price reaches here and holds, it could signify a continuation of the upward momentum. Second Target (2668 - Sniper Shot): If 2662 is cleared, the next potential target is 2668, another sniper shot level. This is the next critical resistance zone where price action could struggle before breaking through or pulling back. If the market breaks this level, it strengthens the bullish outlook. Third Target (2672 - Sniper Shot): The final target for today is 2672, which is my third sniper shot level. This represents a strong resistance point where profit-taking or a significant reversal could happen. If we reach 2672 with strong momentum, the market might continue even higher, but it could also face resistance and retrace. If Support Breaks (2659): Even if the support at 2659 is broken and the price dips below, there’s still the potential for an upward movement afterward. The market can often retest lower levels before reversing back up. So, even if there's a temporary break of support, watch for signs of price reversal or consolidation, as the bulls may regain control. In Summary: Support Level: 2659 (Critical Zone) First Target: 2662 (Sniper Shot) Second Target: 2668 (Sniper Shot) Third Target: 2672 (Sniper Shot) Even if the price breaks support at 2659, there is still potential for a reversal and a move higher. Always monitor the price action closely to make adjustments as needed.
OANDA:XAUUSD
by BinSalmanFundsReal
Gold Hits 3-Week Low: Recovery or Further Decline?Gold prices dropped over 3% to a 3-week low on Wednesday (Nov 6) as the USD strengthened following Donald Trump’s victory. Gold has reached a critical support level around 2,642.534 USD/oz, acting as a key "stop point." If strong buying interest emerges here, gold may see a short-term recovery. However, if this support level doesn’t hold, the next downside target could be 2,588.110 USD/oz, where additional buying pressure is expected. The 34 and 89 EMA lines are currently above the price, indicating that the downtrend still dominates. To confirm a recovery, the price needs to climb back above lost resistance levels. Conversely, if selling pressure persists and the price stays below the EMAs, the downward trend is likely to intensify. Investors should closely monitor price reactions at these support and resistance levels, especially as global political and economic factors could lead to strong market volatility.
OANDA:XAUUSDShort
by Zola_Hello
How I Rode the Gold Trend Using Multi-Timeframe AnalysisHey Traders! 📈 I want to share an analysis of a recent opportunity on Gold that came up, focusing on using multi-timeframe analysis to spot a reaccumulation pattern. Market Context: On the daily timeframe, Gold was showing a retracement. By zooming into the 1H timeframe, I identified what seemed like a reaccumulation (REACC) model—giving a potential entry point to go long in this trending market. The Entry Setup: On the 1H TF, after a retrace, the price continued the uptrend with strong structure, confirming a breakout. I entered long, aligning with the market trend and using a trailing stop to manage the position and capture potential further upside. Floating PnL: Right now, the trade is floating around 12RR and still trailing! This is a great example of how multi-timeframe analysis can help uncover high-probability setups. This educational breakdown is meant to help others see the power of combining market structure and risk management to stay in profitable trades. Hope this helps you spot similar setups in the future! 🚀 Leave a comment if you surfed with this trend too!
FOREXCOM:XAUUSDLong
by TraderOuss_LumaNex
Will traders short this bounce in gold?Gold prices dropped sharply on the news that President Trump will govern the U.S. for the next four years, starting from January 6. This decline makes sense, given his plans to boost the economy despite an already low unemployment rate of 4.1%. These efforts are likely to push inflation and wages higher, which could compel the Fed to maintain elevated interest rates. As long as prices stay below 2,720, a test of this week’s low seems likely in the coming days. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
THINKMARKETS:XAUUSDShort
by ThinkMarkets
GOLD UPDATES MOMENTUM AHEADHello fellow traders, were back on. after the ascending channel, price corrects and clear the high. RUn liquidity for 30$ moves upside, then price has momentum on going back to its trendline. Im expecting a price to clear the previous corrections. First might get the OB then manipulate below. The higher targets would be the previous high! THis is not a financial advice. Follow for more. chart invalid if the friday highs break next week. For more detailed charts keep following.
TVC:GOLDLong
by D1GITALTRADES
Gold Intraday Trading Plan 11/7/2024Gold has fallen sharply because of election result. This is highly matched to my prediction in weekly TF. And in daily, it has broken the channel, which indicating heavy sells ahead. Now the path is tricky. Although bearish trend is obvious, Intraday trading is difficult. Due to large red candle, we may see correction taking place. Patience is the key. I would expect price touch 2640 in Asian session and bounce back to 2670. Afterwards, a new leg down takes place. Let's see what market will give us.
CAPITALCOM:GOLDShort
by SteadyFund
Will Gold crash below 2700 if election favors gold ?Hello ligand traders ! I hope you are doing well. Rumors are on the table for gold buying and buying upto 3000. But what if USA policies are changed after the election ? You got me right . This uncertainty brings fears for gold buyers .The buyers may want to sell the precious gold metal at high prices . If strong buyers turn into strong sellers , gold market may fall with a huge surge .If you want to learn more insights join me .Happy trading !
TVC:GOLDShort
by AHAD_FX
Few things can happen for GoldGood drop because of tight election night so here is the way gold can do; It need to break Resistance 2,663 | 2,685 & 2,700. If it breaks those 3 resistance the but will remain strong and will hit back to 2,725 thru 2,765 zone. If you are in the buy now please be very careful and cautious cuz the resistance are very tight. 2,650 is a pretty strong support along with 2,640 & 2,625.. the buyers should be just fine. Please be cautious and dont put SL too far; place at least %12-14.5 percent away from your entry so you wont lose much. SL : 2,660.70 or 2,659.75 I known its close but it can spike pretty quickly before you know it. So please use proper risk management Lets make this money
OANDA:XAUUSD
by JoyBoyVegae