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CFDs on Gold (US$ / OZ)CFDs on Gold (US$ / OZ)CFDs on Gold (US$ / OZ)

CFDs on Gold (US$ / OZ)

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GOLD trade ideas

NOVEMBER 2024 OUTLOOKTechnical Analysis At a local high of $2,736, the gold markets demonstrates a robust upward trend with key technical indicators reflecting bullish momentum. Immediate resistance levels are anticipated near the psychological markers of $2,750 and $2,800. These round numbers often attract significant trading interest and can act as natural resistance levels as traders look to lock in profits. If we manage to surpass these levels, the next possible resistance zone may be around $2,850, where the market might encounter another wave of selling interest. On the support side, the nearest level is around $2,700, which could serve as a safety net if the price experiences a short-term pullback. Should gold dip further, the $2,650 level may offer additional support, aligning with zones where buyers have historically shown interest. This current uptrend is further confirmed by the positioning of the 50-day and 200-day moving averages, both well below the current price. The 50-day MA, likely near $2,600, serves as a dynamic support level in the short term, while the 200-day MA around $2,500 supports the long-term bullish structure. Indicators reinforce this trend, with the RSI likely approaching or exceeding 70, suggesting that the asset may be in overbought territory. This level indicates a strong bullish presence but also warns of potential profit-taking or consolidation in the near term. Meanwhile, the MACD remains positive, confirming strong upward momentum. However, declining histogram bars could hint at slowing momentum, signaling that the asset might enter a consolidation phase before deciding on its next direction. Fundamental Analysis The current elevated price level of gold reflects ongoing concerns around inflation, global economic stability, and demand for safe-haven assets. Inflation remains a driving force in the gold market, as investors often turn to gold as a hedge against rising prices, preserving purchasing power during inflationary periods. Should inflationary pressures persist, they are likely to sustain demand for gold, supporting its price at higher levels. Additionally, central bank policies play a crucial role in influencing gold prices. If the Federal Reserve or other major central banks signal a more dovish stance—such as a pause or reduction in interest rate hikes—gold could attract even more buyers, as lower rates tend to reduce the opportunity cost of holding non-yielding assets like gold. Global market instability is another significant factor, with geopolitical tensions and slowing economic growth driving investors toward safer assets. With concerns over potential economic downturns, gold becomes more attractive as a reliable store of value. Currency dynamics, particularly the strength of the US dollar, also play a pivotal role. Gold prices and the dollar generally have an inverse relationship; thus, any weakness in the dollar can support gold’s upward trajectory. As the dollar faces potential depreciation amidst global uncertainties, this relationship could further bolster the gold markets. Finally, seasonal trends also come into play. Historically, November can see increased volatility in gold as markets adjust positions ahead of the year-end. Demand for safe-haven assets often rises during this period, providing additional support for gold prices. This combination of inflation concerns, central bank policy shifts, economic uncertainties, and seasonal influences is likely to maintain high demand for gold through November, with room for additional gains if these factors persist. Long Term Projections Bullish Scenario: If XAU/USD maintains support above $2,700 and demand remains strong, a push toward $2,850 and possibly $2,900 could occur, particularly if global uncertainty rises or inflation expectations grow. Bearish Scenario: If the price falls below $2,700, a pullback toward $2,650 or even $2,600 could ensue. Bearish momentum may pick up if the dollar strengthens unexpectedly or if economic stability improves. Consolidation: Given the high RSI, consolidation between $2,700 and $2,750 may occur if traders take profits and wait for new catalysts before pushing prices higher.
OANDA:XAUUSD
by KingsFX_official
XAUUSD 3M 1. Elliott Wave Structure and Key Levels Wave 5 Completion (2,747.14): The fifth wave peaks around $2,747.14, reaching a 1.618 extension, suggesting this could be a point of reversal. The formation of volume divergence at this level indicates potential weakness in bullish momentum, marking a critical level to watch for a possible trend change. Wave 1 (Current Correction Phase): The chart shows a beginning corrective move from Wave 5, indicating an A-B-C structure may follow. This corrective phase could bring prices down to fill previous gaps and approach key support levels. 2. Wyckoff Phases and Distribution Structure Phase A (Accumulation - $1,046.23 to $1,512.84): This phase includes a consolidation around the $1,046.23 low and forms the base before a significant rally. The Automatic Rally (AR) and Secondary Test (ST) suggest the end of Phase A and a potential upward shift in market sentiment. Phase B (Mark Up and Distribution at Resistance): After accumulation, prices move up in a mark-up phase, testing the Resistance Line of BC Distribution. This area includes Upthrust (UT) and Upthrust After Distribution (UTAD), which are signs of potential distribution before a downtrend. Phase C (Breakdown Expected): Phase C may involve the start of a downtrend from Wave 5, with price likely returning to lower levels for further testing. This phase includes the Sign of Weakness (SOW) and anticipates a retest of support near $1,512.84. 3. Fibonacci Levels 0.618 Retracement ($890.62): The 0.618 retracement level is marked as a strong support, below which price should not pass without invalidating the bullish wave structure. This level could act as a long-term support area during the corrective phase. 1.236 Extension ($2,369.74): The 1.236 level marks a significant potential reversal area for Wave 5. A move back to this level could signal the completion of a deeper pullback, possibly a key point of interest for traders looking for long-term entries. 4. Liquidity and Key Order Blocks Liquidity Void: The chart highlights a liquidity void in the three-month time frame (3M), representing an area where price may revisit to fill previous inefficiencies. This void may act as a magnet, attracting price downward in the corrective phase. Buy-Side Liquidity (BSL) Area: The Buy-Side Liquidity (BSL) near the recent highs represents a key area where stop losses and limit orders are likely concentrated. This region may experience volatility as larger players look to capitalize on retail stop losses. 5. Support and Resistance Lines Resistance Line - BC Distribution ($1,720.00): The $1,720.00 level acts as a key resistance line in the distribution phase. A break above or below this level in Phase B may confirm the direction of the trend and could signal a shift in momentum. Support Line - AR Distribution ($1,512.84): The $1,512.84 level serves as a critical support in the accumulation phase and may act as a bottom if the market revisits this area in the corrective structure. 6. Break of Structure (BOS) and Market Sentiment Shifts BOS Wave 3 (12M): The Break of Structure (BOS) in Wave 3 on the 12-month chart signals a major structural shift, often indicating the end of one trend and the beginning of another. This point may see increased volatility and shifts in market sentiment. BOS in Phase B (3M): The BOS within Phase B on the three-month time frame highlights potential points of interest for continuation or trend reversal. It indicates that a shift in sentiment may occur, influencing market participants to prepare for trend changes. 7. Dealing Ranges and Points of Control (POC) Dealing Range (12M-3M): This range, marked at recent swing high and low levels, provides a boundary for price movement, with the Point of Control (POC) likely aligning with high-volume areas. The dealing range helps in identifying areas where price could consolidate or reverse. Current Trend (Dealing Range for Wave 4): The range defined for Wave 4, including swing highs and lows, offers insight into the ongoing market structure. Observing price behavior within this range helps to gauge the momentum of the corrective wave. 8. Next Week’s Trading Plan Primary Strategy: The corrective phase is expected to continue, with a probable downward move to fill liquidity voids and test lower support areas. Key Target Levels: Downside Targets: Monitor support around $1,720.00 (Resistance Line) and $1,512.84 (Support Line). These levels could provide entry points if price tests and holds as support. Upside Targets: Watch for potential shorting opportunities if price retests resistance near the recent swing high at $2,747.14. Risk Management: Stop-loss orders should be placed above recent highs around $2,800.00 to manage risk if there’s an unexpected upward move. Volume and Price Action: Look for volume divergence or signs of weakness near resistance levels, especially around the 1.618 level ($2,747.14), as they could signal a trend reversal. Summary of Key Points Wave 5 likely completed at $2,747.14, with a corrective A-B-C structure now underway. Wyckoff Distribution phase suggests further downside as Phase C unfolds, targeting key support levels. Liquidity voids and POC levels act as magnets for price, which may revisit these areas during corrections. The Resistance Line at $1,720.00 and Support Line at $1,512.84 are essential for tracking entry and exit points in line with the current downtrend.
FX:XAUUSDShort
by spacedevil
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
More Bearish Moves In ComingAs the year draws to a close, we’ve seen gold maintain a strong bullish trend throughout. However, with the year-end approaching, banks, institutions, hedge funds, and other major market players are likely to start unwinding their long positions. This shift could create increased bearish momentum for gold from now until the end of the year. For November, I expect continued bullish action as these institutions gradually reduce their long exposure, creating short-term buying pressure. After this phase, I anticipate a period of consolidation before price resumes a downward push. If gold price consolidates around the 2760.00 level, I’ll be watching for an opportunity to short down to the 2680.00 range, which could provide solid support. Should price break below this consolidation pattern, we can expect a continued bearish trend to unfold. However, if price holds within the pattern without breaking lower, it may signal a continuation of the current upward movement.
OANDA:XAUUSDShort
by laurettaelorm
Gold can continues to grow inside upward channelHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price a few moments ago started to grow inside the upward channel, where it at once rose to the resistance line and then made a correction movement. Next, the price continued to grow and later reached the resistance line of the channel again, which coincided with the current buyer zone, after which rebounded to the support line of the channel. Then Gold rebounded from this line to the resistance line of the upward channel, thereby breaking the 2605 support level, and also later exited from the channel. Price little grew and then started to decline, and in a short time fell to the support level. After this, Gold started to grow inside another upward channel, where it bounced from the support line and rose to the 2730 level. Price long time traded between this level, trying to break it, and later finally broke the 2730 level. After this, Gold rose to almost the resistance line of the channel, but not long time ago turned around and fell to the support area. At the moment, I think that the price can correct to support the line of the channel and then continue to grow inside the channel. For this reason, I set my TP at 2825 points, which coincides with the resistance line of the upward channel. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
1
Transitioning from Successful Demo Trading to Live TradingHow to Avoid Choking Your Live Account The journey from demo trading to live trading is often more challenging than most traders anticipate. The image you’ve shared captures the key steps of this transition—from mastering a demo account to navigating the psychological hurdles of live trading. While demo trading is an essential part of a trader’s education, live trading introduces emotional and psychological challenges that many traders find difficult to manage. Let’s dive into the key stages and explore how to transition successfully without choking your live account. 1. Successful Demo Trading At the start, many traders achieve consistent results in demo trading. In a demo environment, there’s no real money at stake, which allows for calm, calculated decisions and plenty of room for mistakes. It’s here that you develop and fine-tune your strategy without the fear of financial loss. However, the ease of success in a demo account can create a false sense of security about your readiness for live trading. 2. Transition to Live Trading Moving from demo to live trading is a crucial moment. Many traders believe that because they are profitable in demo trading, they are automatically ready to replicate that success in a live account. However, the difference between the two is the introduction of real money and real emotions. The fear of loss and the pressure to protect your capital can interfere with the clear thinking that guided you in the demo environment. 3. Overthinking Begins In live trading, overthinking is a common problem that often creeps in early. Unlike demo trading, where decisions flow effortlessly, live trading introduces hesitation. Traders tend to question their strategies, second-guess their analysis, and get caught up in minute details that don’t necessarily matter. The fear of making a wrong decision becomes amplified when real money is on the line, often causing traders to overanalyze market movements. 4. Paralysis by Analysis As overthinking intensifies, traders can fall into what is known as paralysis by analysis. This happens when you analyze the market so extensively that you become too hesitant to make any trading decisions. Constantly doubting your entry points, second-guessing signals, or being afraid of missing out can lead to missed opportunities and a lack of trading action. At this stage, fear dominates logic, and traders may either overtrade or avoid trading altogether. 5. Trading Failure Inevitably, if you allow overthinking and paralysis to take control, it can lead to trading failure. This failure isn’t necessarily about blowing your account—it’s about failing to follow your trading plan, succumbing to emotional decisions, and deviating from the strategy that made you successful in demo trading. Fear of losing, coupled with poor decision-making, can lead to a downward spiral. 6. Need for Strategy When traders hit a rough patch, they realize the importance of sticking to a well-defined strategy. A consistent strategy should not only outline entry and exit points but also incorporate risk management, stop-loss placement, and clear goals. At this stage, traders must revisit their demo strategies and adapt them to the emotional reality of live trading. Importantly, the need for strategy isn’t just about the technical side—it’s about managing emotions and sticking to the plan under pressure. 7. Implementing Strategies Having a solid strategy is one thing, but implementing it consistently in live trading is a different challenge. This stage is where traders must learn to trust their strategy, let go of the fear of losses, and maintain emotional discipline. It’s crucial to trade small positions at the beginning to minimize the emotional impact of any losses. Gradually scaling up as confidence grows allows for emotional adjustment without the added pressure of large financial risk. 8. Successful Live Trading The final stage is successful live trading, where traders have mastered not just the technical aspects of their strategy but the emotional and psychological elements as well. Success in live trading is marked by consistent execution of a plan, disciplined risk management, and the ability to stay calm during market fluctuations. At this point, you’ve learned to manage your emotions, handle losses gracefully, and take profits when the time is right. Tips to Avoid Choking Your Live Account Start Small: When transitioning from demo to live trading, start with a small account. Even if you’re profitable in demo trading, your psychological state will change when real money is at stake. Trade with smaller positions until you feel comfortable managing your emotions in a live setting. Have a Trading Plan: Stick to the same strategies that worked in your demo account. A well-defined trading plan will give you clear guidelines to follow, even when emotions run high. Make sure your plan includes risk management and contingency plans for when trades don’t go your way. Control Emotions: Live trading introduces a range of emotions—fear, greed, anxiety, and excitement. The key to success is emotional discipline. Set your stop losses and take profits before entering a trade and avoid changing your plan mid-trade based on emotion. Risk Management: Risking too much on a single trade is one of the fastest ways to lose your live account. Never risk more than 1-2% of your total account balance on any trade. This will help you stay calm and reduce the emotional pressure to win every trade. Accept Losses: Losing trades are part of the game. Even professional traders have losing trades, but they manage those losses with proper risk management and emotional control. Accept that losses are a part of trading and avoid chasing the market or trying to win back losses impulsively. Regular Reflection: After each trading session, take time to reflect on your trades. What went well? What could have been improved? This reflection will help you adjust and improve your strategy over time. Conclusion Transitioning from demo trading to live trading is more about managing emotions than it is about mastering the technical aspects of trading. While the technical skills you develop in demo trading are essential, emotional discipline is what separates successful live traders from those who struggle. By starting small, sticking to your strategy, and managing your risk, you can avoid choking your live account and set yourself up for long-term success in the markets.
FX:XAUUSDEducation
by pow_removetheguesswork
GOLD Analysis | Intraday Chart ForecastGold prices rise in early European trade after sliding in the previous session, with investors awaiting U.S. payrolls data for more insights on the Federal Reserve's next policy move. Futures trade 0.5% higher at $2,764.00 a troy ounce following a 2% fall on profit-taking and increasing bets that the U.S. central bank will take a more cautious approach to rate cuts in the months ahead. "The fact that the core PCE rose the most on a monthly basis since April--along with strong spending and robust growth data released earlier this week--trimmed the Fed cut bets," Swissquote Bank's Ipek Ozkardeskaya says in a note. Still, prices continue to be supported by strong demand for safe-haven assets due to heightened geopolitical risks in the Middle East and uncertainty around the U.S. election. 🔴 TECHNICAL ANALYSIS ------------------------------- That said, Gold failed the bullish impulsive structure triggering a bearish leg that pushed the price directly to the potential support area around 2732. If Gold manages to hold this area (already touched once), we do not exclude an irregular wave B, with a potential new Top in wave 5. If our impulsive structure had not failed, above the 2,800 area it would have been interesting to try to sell Gold (see chart/analysis below). That said, let's take one step at a time, and therefore our focus will be on the support area, for now. 📊 POTENTIAL SELL TRADE ----------------------------------- Thanks for watching & support.
OANDA:XAUUSDLong
by TheAnonymousBanker
Gold on slide aftermath / Medium-term Buy orders closed with TGNew meta: As it was evident recently on my commentaries, I have been engaging Medium-term Buying orders (#2.0 and #3.0 Volumes) #3 times in a row now and first two times it was sharp #100-point Profits. Previous two orders were engaged on #2,712.80 and since #2,790.80 was Fibonacci Ultimate Top's I have decided to close both of them there / delivering #78-point Profit on both of orders. I could officially await #2,800.80 benchmark or more however I took a safe path and closed my orders with #78-point Profit on both of them / Highly satisfied however since Elections are approaching, I will not make any more moves since Elections can finally deliver certain Selling action on Gold (as markets may have some confidence after voting) which may cause safe-haven assets such as Gold to lose and riskier assets to gain on Medium-term. Intra-day / Short-term: The #2,772.80 former strong Support now turned in Resistance was crossed and Gold was Technically ready to accomplish new local Low’s (major break-out I announced if it gets invalidated). This will be essentially a Higher High's Lower zone first on Descending Triangle validating my expectation of an #10 to #15 point Trading range (Rectangle) on however aggressive pace for the next #1 - #2 session horizon. The (#1W) Weekly candle is now at (# +1.05%) and the week will most likely close on a positive note following last candle's (# +2.28%). I will take advantage of the Higher High’s Lower zone, giving distinguished Buying order within this relief rally / Bullish Intra-week cycle and Profit on wide timeframes for reduced Risk as I still maintain my Buying order (Buying every Bottom) which I engaged on #2,735.80 (ideally I expect to close the position above #2,752.80 benchmark). Keep in mind that this is NFP session as I am looking at #2,727.80 test initially if NFP delivers upside surprise. My position: As discussed above, I do expect upside surprise on NFP announcement and if that's the case, Gold may spike towards #2,727.80 Support zone in extension. I will close my current Buying order as Higher as I can and will look to re-Sell Gold ahead of NFP numbers. Overall another excellent week.
OANDA:XAUUSDShort
by goldenBear88
Strategic Insights for Today's NFP: Key Targets and Market MovesToday’s NFP Analysis: NFP Target One: 2767 This level serves as our initial target for upward movement. NFP Target Two: 2777 If the market holds strong, this is our next key resistance point. NFP Target Three: 2781 This target represents a potential peak for today's trading session. Important Note: If the price moves downward, it may tap the level of 2735 before potentially bouncing back up. This could create an opportunity for a reversal.
OANDA:XAUUSD
by BinSalmanFundsReal
1
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing candle body close above 2746 with gap above at 2752. Ema5 cross and lock will open the full range above. We also have 2736, as weighted Goldturn support and will need ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2746 EMA5 CROSS AND LOCK ABOVE 2746 WILL OPEN THE FOLLOWING BULLISH TARGET 2752 2762 BEARISH TARGETS 2736 EMA5 CROSS AND LOCK BELOW 2736 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2728 - 2720 EMA5 CROSS AND LOCK BELOW 2720 WILL OPEN THE SWING RANGE RANGE SWING RANGE 2707 - 2692 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
28
2787 ! ATH XAU heading in today⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold prices (XAU/USD) reach a new record high during Wednesday’s Asian session as US election uncertainties and ongoing Middle East conflicts drive demand for safe-haven assets. Additionally, a slight drop in US Treasury yields and a softer USD further support the precious metal, outweighing the upbeat market sentiment, which would typically limit Gold's appeal. ⭐️Personal comments NOVA: The uptrend continues to maintain - positive from the market before the November 5 US presidential election. Aiming for the price range 2787 - 2800 ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2787 - $2789 SL $2792 TP1: $2783 TP2: $2778 TP3: $2770 🔥SELL GOLD zone: $2801 - $2803 SL $2808 TP1: $2795 TP2: $2780 TP3: $2760 🔥BUY GOLD zone: $2755 - $2757 SL $2750 TP1: $2762 TP2: $2770 TP3: $2780 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account
OANDA:XAUUSDLong
by Nova-Scalper
9
Gold- Where is the next 1k pips trade?As I've outlined in both written and video analyses on FOREXCOM:XAUUSD , I’m anticipating a substantial pullback in gold prices. Let’s look at this objectively: just as trees don't grow to the sky, neither does Gold. With a remarkable 2,000-pip rally over the last 20 days, the likelihood of a meaningful retracement is increasing. Each new high reached only makes a sharper pullback more probable. That said, I’m not rigidly fixed on one outlook. In yesterday’s analysis, I noted that a new all-time high seemed highly probable. Acting on this, I opened a small long position after observing a buildup consolidation just under the previous ATH, which I closed at 2770. The key question now isn’t whether gold will start pulling back, but rather where that pullback will begin. On the 1-hour chart, since the low near 2600 on October 10th, Gold has been trading within an ascending channel. Each time the price touches the upper boundary of this channel, it has reversed back down. Based on this behavior, I anticipate a similar reaction if gold approaches or slightly exceeds 2800, and I plan to fade any move above that level. In conclusion, for those looking at potential 1,000-pip opportunities, I believe the short side currently holds more promise. In the short term, a retracement toward 2700 seems more realistic than an extension to 2900. P.S: Looking at previous times when Gold has made ATHs, the reversal from the top has been more than 1000 pips.
OANDA:XAUUSDShort
by Mihai_Iacob
5
Gold Roadmap==>>Short term!!!The recent CB Consumer Confidence and JOLTS Job Openings reports are both pivotal indexes for gold’s market reaction. A lower-than-expected JOLTS report , indicating fewer job openings, suggests possible economic slowing, which tends to support higher gold prices as investors look for safe-haven assets. On the other hand, if the Consumer Confidence Index shows strength, it can signal economic resilience, potentially reducing demand for gold as risk-on assets may become more attractive. Gold ( OANDA:XAUUSD ) moved as I expected in ✅ yesterday's post ✅. Gold is moving near the Potential Reversal Zone(PRZ) . According to the theory of Elliot waves , it seems that we should wait for wave 4 of Gold in the 15-minute time frame . Also, Regular Divergence(RD-) between Consecutive Peaks . I expect Gold to decline to at least the Support zone($2,761-$2,756) and the Uptrend line . ⚠️Note: If Gold goes over PRZ, we have to wait for $2,800(at least)⚠️ 🔔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
7
THE KOG REPORT - UpdateEnd of day update from us here at KOG: Yesterday we said we would continue with the plan and look to complete our targets which has worked well today. Our red boxes performed well as well as our bias bearish below level which gave the tap and bounce from 2771, we wanted 2770. Targets completed today: 2755, 2762, 2768 This leaves us with one target level remaining sitting at the 2779 and 2780 price points, which if we can support at the indicated levels we feel should be achieved. We're too high now again to long so unless we get a pullback, we'll follow the plan and look for RIPs from the higher levels for the attempt to short. A great day on the markets completing not only the gold targets but another 10 targets hit across the other pairs we apply the algo to. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
3
Non-agricultural gold increased significantlyAs Gold continues its upward trajectory, traders must recognize that pip values and fluctuations aren’t fixed in impact. Consider a scenario where Gold moves by 300 pips—when Gold was trading at $1,500, that would’ve been a 2% shift; now, it’s just around 1%. Being attuned to these changes helps traders avoid overly tight stop-losses, which can lead to premature exit, or take-profits that might cut gains short. In other words, risk management isn't just about setting numbers; it's about knowing the context of those numbers within market conditions. By aligning our strategies with current Gold levels, we’re better equipped to maintain consistent risk and reward ratios.
OANDA:XAUUSD
by TheBraveGirl