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Gold within stagnation zone due ElectionsTechnical analysis: Trading continues on very Low rate and Volatility on most levels is easing. Since #2,752.80 benchmark I mentioned many times on my remarks got invalidated and Gold is unable to stage recovery attempt above it, Bearish pattern on Hourly 4 chart reversed the Price-action towards #2,722.80 Support extension (Monthly Low's) and besides Sellung pressure evident throughout yesterday's and today's session, that was maximum for Buyers (at least for for current fractal). Daily chart is even more Bearish than its Moving Averages suggest (and break of former Ascending Chanel and trendline) so another candle is required to cross in Bearish values and reveal true Nature of the future trend which will restore the Selling bias according to my estimations. I am still looking for a complete frame fill at #2,700.80 benchmark first then #2,652.80 benchmark in extension if post-Election candles arrive and global economy feels significant relief which will add confidence into all asset classes and safe-havens such as Gold may lose (Investors losing interest). My position: As it was the case many times before, pre-Election candles carry thin Volume usually so I will monitor the Price-action from sidelines.
TVC:GOLDShort
by goldenBear88
Falling wedge Breakout in CRUDE?Crudeoil Update (4-Hour Timeframe) Pattern Formation: Falling Wedge, typically suggesting a potential breakout to the upside. Current Setup: Crudeoil has taken support at the 5900 level and is now trending upward within the wedge. Entry Above: 6025 Target 1: 6100 Target 2: 6220 Target 3: 6380 Stop-Loss: 5970 Analysis: Price has shown resilience at support, and a breakout could be triggered above 6025. Watching closely for an upward move. Risk Management: Ensure proper stop-loss placement to guard against reversals. Disclaimer: This is a technical analysis based on current data, not financial advice. Always trade with caution.
MCX:CRUDEOIL1!Long
by Shalvisharma5
2
11.5 Gold adjustment is still continuing!1: For gold price, 2730 is support in the short term! 2730 is just a rebound, not a reversal. The pressure is concentrated in the range of 2745-50. The sideways trading at the bottom is not a bottoming out, but a new adjustment is brewing. 2: The reason is that gold has fallen from the high of 2790 US dollars. After breaking through the support of 2770 US dollars, the high point position has continued to break down. Even if the non-agricultural data is positive in the middle, it did not drive gold to continue to rise. It just rebounded to above 2760 to complete the top and bottom conversion (previously 2760-70 was a strong support, and strong pressure was formed after breaking). 3: From the $60 plunge in gold last Friday to the non-agricultural data, which did not rise, it shows that the selling pressure from above is large, the buyer's power is weakened, and the gold price can no longer be sent to a higher position. Moreover, the rise from 2605 to 2790 is a full $185. The technical side also needs to be corrected, and the profit-taking urgently needs to close the position and leave the market, so it is not blindly optimistic to chase more! The 1-hour structure clearly indicates that the highs have been moving down from 2790/2760/2748, while the lows of 2770/2734/2725 have been lost. This is a typical adjustment market pattern. There is no need to guess where the bottom is. Just keep an eye on whether the last high point has been lost.
FXOPEN:XAUUSD
by David_strategy
1
H-1 SCENARIO [TRUE SMC STRUCTURE MAPPING] gold is showing key levels that may signal its next move. Currently, minor resistance is observed around $2,775, aligned with a downward trendline that could trigger selling pressure if prices approach this level. A failure to break above this could lead to a pullback, potentially driving prices down to the support level around $2,732. Should gold breach the $2,575 level, it may see additional bullish momentum toward recent highs. The primary support range to monitor on this timeframe is around $2,622, with a critical psychological support near $2,600 if further declines occur. A strong move above resistance, particularly with positive catalysts such as dovish Fed expectations, could pave the way for further gains​
OANDA:XAUUSDLong
by BELLATRIXFX
Gold Amid US Election ResultsGold Amid US Election Results Today, the US dollar is showing slight weakness across the currency board as the market focuses on the US election results. Experts believe it might take at least a few days before there is a clear winner. Gold, on the other hand, is in a strong bullish trend and tends to make unpredictable moves, especially when the market is uncertain about USD strength. The time it can take for the election results could allow gold to rise further and dominated by bullish volume, as indicated on the chart. Strong resistance zones are anticipated near 2756, 2769, and 2787. It is possible that significant manipulation could push gold to 2800 this time. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
FX:XAUUSDLong
by KlejdiCuni
4
XAU/USD 05 November 2024 Intraday AnalysisH4 Analysis: Analysis/bias remains the same as analysis dated 31 October 2024 -> Swing: Bullish. -> Internal: Bullish. Gold’s rally persists, driven by the Fed’s dovish stance and heightened geopolitical tensions, strengthening its safe-haven appeal. Price has recently printed higher highs, bringing CHoCH positioning significantly closer to current price level. A bearish CHoCH has printed, signaling the first indication, though not a confirmation, of a potential bearish pullback phase initiation. Price is now trading within an established internal range. Intraday Expectation: Price is expected to continue bearish, potentially reacting at the H4 demand zone or the discount of the H4 internal 50% EQ before targeting the weak internal high. We should however remain mindful that Daily TF is showing very early signs of bearish pullback phase initiation. Therefore, price could potentially print a bearish iBOS. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bearish. As highlighted in yesterday's intraday analysis dated 04 November 2024, I mentioned that price was expected to continue targeting the weak internal low. Price followed this expectation, reaching the weak internal low and printing a bearish iBOS. Subsequently, price has printed a bullish CHoCH, indicating the initiation of a bullish pullback phase. Internal structure has also been confirmed. Intraday Expectation: Price is expected to react at either premium of the 50% EQ or the M15 supply level before targeting weak internal low. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
XAUUSD 4H Key Considerations for the 2024 U.S. Election High-Level Observations and Zones Dealing Range (12M-3M) and PMH: This range, marked at the top, represents a high timeframe dealing range and a recent swing high (PMH). The upper boundary, around 2,790, coincides with the inducement wave, suggesting that a strong resistance or potential reversal point could be located near this level if the price reaches it. Inducement and Buy Side BSL: Similar to the previous chart, this inducement level suggests a point where liquidity can be captured, potentially triggering a short-term reversal as retail traders get trapped. The Buy Side BSL (Buy Stop Liquidity) above this range marks where buy-side liquidity rests, which could fuel further upside if price breaks through convincingly. Low Resistance Liquidity Run (LRLR): This zone, around 2,745.95, indicates a low-resistance liquidity area where price may move smoothly, suggesting that any breach here could lead to a rapid price movement until encountering the next major liquidity pool. Psychological Level (PSY): This area likely serves as a psychological threshold where traders' sentiment may shift, offering potential support or resistance. Here, it’s positioned near the lower boundary of the recent range. Point of Control (POC) and Volume Profile Analysis: The POC at 2,731.95 represents the price level with the most traded volume in this range, acting as a significant support or resistance. The volume profile shows a high concentration of trading activity around this level, suggesting it’s a key point for institutional interest. Market Structure and Wave Counts Corrective Structure (Elliott Wave): The chart illustrates an ongoing corrective structure with multiple subwaves labeled (w), (x), (y), etc., suggesting a potential W-X-Y correction. The recent downward movement aligns with this corrective wave, pointing to an extended consolidation phase within a larger bullish setup. Projection of the Motive Phase: After the corrective wave completes, the projected structure on the right shows a potential 5-wave upward sequence (i, ii, iii, iv, v). This projected path, indicated by the labeled wave counts, implies that once the corrective wave completes, a motive phase might drive the price upwards to new highs within the current dealing range. Motive Phase Label: The lower right part of the chart points to a "Motive Phase" which suggests that if the corrective structure plays out and holds above the invalidation point, a bullish impulse might start. This phase typically indicates stronger, trend-aligned moves as opposed to corrective, choppy price action. Key Levels and Fibonacci Zones Discount and Premium Zones: The equilibrium (0.5 Fib) is marked at 2,733.89, a midpoint for potential reversion within this corrective structure. The chart labels a “Discount” zone above this equilibrium level, suggesting a favorable buying opportunity for bulls as long as price remains above key support. 0.382 Fibonacci Level (2,731.95): This level acts as a significant retracement target within the corrective wave structure. Positioned close to the POC, it reinforces this level as a critical area for potential buy-side interest if price revisits it. Premium and Invalidation Levels: The premium area is below the 0 level (2,724.70), which aligns with the invalidation point. A drop below this point would negate the bullish setup and signal potential downside continuation, making it a key reference for managing risk. Strategic Levels for Trading Decisions Bullish Entry Zone: The POC and 0.382 level serve as attractive points for entering long positions, with tight risk management below the invalidation level. These levels, backed by volume and Fibonacci retracement, provide a favorable risk-reward setup. Upside Targets: The primary target for bullish continuation is the Buy Side BSL and Dealing Range high at 2,790.08. If this level is broken, further upside toward the psychological level around 2,803.68 (near the top of the chart) could be expected. Potential Triggers for Reversals: If price hits the inducement level near 2,790 and shows signs of rejection, a short-term reversal could occur. This would provide an opportunity for traders to either exit long positions or potentially enter shorts with stops above recent highs. Additional Notes Volume and Market Sentiment: The volume bars show higher activity at key reversal points, especially during wave transitions, highlighting areas of potential institutional interest. Structural Patterns: The corrective nature of the current price action, combined with the projection for a motive phase, indicates that the market is consolidating within a bullish trend, awaiting a breakout. In summary, this chart outlines a bullish structure with corrective waves currently in play. Traders may look for long entries around the POC (2,731.95) or upon the breakout of key liquidity zones (2,790.08), targeting the dealing range highs. However, the invalidation level at 2,724.70 must hold to maintain this bullish outlook.
FX:XAUUSDLong
by spacedevil
2
XAUUSD, WEEKLY CHART... here's how it looks.I've been trying some custom approach / experiment on detecting reversal play in advance stages -- and my current case study is XAUUSD. Here's how it looks. Based on weekly data, we got a thinning price line with a shifting inverted support lines (bottom lines). A good confirmation Identifier would be a complete horizontal inverted support line shift. 1950 (completed support line) would be the key price point for that level. Touch it, and we got a BUY SIGNAL. Non-confirmatory (risky) would be 1940 level. TAYOR. Safeguard capital always.
OANDA:XAUUSD
by JSAL
7
Gold Trading Insights Ahead of the Election!Although gold didn’t fluctuate much today, our returns were quite impressive! These small range movements create excellent opportunities for agile buying and selling. As I mentioned yesterday, the New York market did indeed decline today, and the buy signal I provided at the open hit the TP of 2745 perfectly. I then began selling, ultimately closing the trade at 2733 with great results. Tomorrow is the election, and I believe the results will boost the dollar, which could lead to a drop in gold prices. I plan to continue selling during tomorrow's New York session. What do you think?
FOREXCOM:XAUUSDShort
by Wealth_Waves
Gold Analysis==>>Falling ContinuesGold ( OANDA:XAUUSD ) has already started falling from the Resistance zone($2,751-$2,746) and the Resistance line ( in the 15-minute time frame ). According to Elliott wave theory , Gold seems to have completed main wave 4 , which has a structure of the Double Three Correction(WXY) . I expect Gold to fall to at least the Support zone($2,734-$2,731) , and if the Support zone breaks , we can confirm the end of main wave 4 , and most likely, Gold will fall to $2,721 . 🔔Be sure to follow the updated ideas.🔔 Gold Analyze ( XAUUSD ), 15-minute 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.
OANDA:XAUUSDShort
by pejman_zwin
12
Trade Plan (Pending): Buying Gold at $2,727 Mixed price action has resulted in an Ending Wedge pattern being posted on the intraday chart. On a break of this morning time of $2,741 the measured move target is $2,762. We will complete a Crab formation at $2,784. We are currently assessed as moving lower within the BC leg of this cypher formation. Support is located at $2,727. A break of the trend of lower lows, currently located at $2,724, and the bias is negated. SL: $2,718 TP1: $2,784 R Rate 6.1 #tradeplan #gold
CAPITALCOM:GOLDLong
by IanColeman
SilverThe US Federal Reserve’s policy decision, set for Thursday, is capturing market attention. A 25 basis point rate cut is widely anticipated this week, with the CME FedWatch Tool indicating a 99.5% likelihood of this move in November. Such a rate cut could lend support to Silver, as lower interest rates decrease the opportunity cost of holding non-yielding assets. In addition, expectations for further economic stimulus from China could enhance Silver's demand outlook. The Standing Committee of the National People's Congress (NPC) is convening for a five-day meeting from November 4 to 8, where a stimulus package possibly exceeding 10 trillion yuan may be approved to boost China’s economy. As one of the world’s largest centers for electronics, solar panels, and automotive manufacturing, China’s increased activity could significantly drive up Silver demand.
TVC:SILVERLong
by thabang01
1
Gold Prices Rise: Investor Hopes After U.S. Election?Hello everyone, Currently, the global gold price is experiencing a slight increase, standing at around 2,736 USD per ounce. In the last week of October and early November, gold prices have seen significant fluctuations due to economic and political factors. Gold prices have rebounded as investors are actively buying. In my opinion, investors are optimistic that the precious metal's price will rise significantly following the U.S. presidential election, taking place on November 5th. Additionally, the precious metal seems to be supported by the ongoing conflict in the Middle East and the expectation that the Federal Reserve (Fed) will further cut interest rates at the upcoming policy meeting on November 7th. The short-term outlook suggests that gold may continue to rise, bolstered by economic and political uncertainties, along with the potential for the Fed to further ease monetary policies.
OANDA:XAUUSD
by Ademha
Gold Consolidates Ahead of U.S. Election🟡 Gold Price Update: Currently at $2737.00 Gold has been moving sideways recently, showing a period of consolidation as market participants await further catalysts. This sideways movement reflects uncertainty and cautious positioning, likely influenced by the upcoming U.S. election. Historically, major events like elections can introduce volatility as investors seek safe-haven assets in times of uncertainty, and gold often responds with significant moves. 📊 Technical Outlook Support Zone: $2725.00 - $2730.00 Resistance Zone: $2745.00 - $2755.00 Range: The current range-bound movement between $2725 and $2755 indicates that buyers and sellers are in balance for now, awaiting clearer market direction. Key Indicators: Relative Strength Index (RSI): Currently near the 50 level, showing neutral momentum. A breakout above 60 could signal buying strength, while a drop below 40 may suggest a bearish momentum. Moving Averages: The 20-period SMA is close to the price action, underlining the ongoing consolidation. Watch for price action to decisively break above or below the SMA, potentially signaling a new trend. Volume: Volume has been decreasing, suggesting a lack of strong conviction from either buyers or sellers. Look for a volume increase on any breakout to confirm the direction. 🔮 Possible Scenarios with U.S. Election Implications With the election on the horizon, any surprising result or political uncertainty could cause a significant uptick in gold demand as investors seek safety. However, a clear result may bring stability, potentially putting downward pressure on gold. Trade Setup Idea: Bullish: Consider buying on a confirmed breakout above $2755, targeting $2780 or higher. Bearish: A break below $2725 could open doors for a drop to $2700. As always, keep your risk management tight and watch for news developments. The market will react sharply as new information comes in!
OANDA:XAUUSD
by forexorbit