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GOLD trade ideas

XAU/USD (Gold) Risk On Effect This Week..As Trump gains all swing states and takes hold of congress, he has a mandate to make a lot of changes. Investors typically view this as inflationary, as well as pro-growth. This has fed into Markets this week and is providing a large amount of Risk On Sentiment Bias. That means investors are withdrawing from typical safe haven assets (Gold, Yens etc) and driving into risk assets like equities, cryptocurrencies and risk currencies. The current waning of demand on Gold comes about from USD strength (as mentioned inflationary effect) and removal of safe haven inflow. Key levels noted below, should sentiment continue. Would only re-short on pullbacks to ride wave.
FOREXCOM:XAUUSD
by WillSebastian
Closing my old and new Selling order / #91 Profits rowAs discussed throughout my Friday's session commentary: "My position: As I expected Fed easing the Rate and which may hurt the DX even more, I have awaited the Fed Rate announcement aftermath and engaged re-Sell order with #2,708.80 since I was aware that Gold will not deliver a move once again above #2,727.80 Medium-term Resistance zone. My order is currently running however I have missed the chance to close the order on #2,682.80 Support / even though my Profit on my re-Sell order is decent already, I will take the Risk and keep the order and close it as close as #2,682.80 Support zone in extension on overall another excellent week for me." I have closed my re-Sell order throughout Friday's session (#2,708.80 - #2,684.80) on a fine #24-point run extending my results range to #91 Profits row and #19 Stop-loss hits regarding December - November cycle. I have closed overall very excellent last week on good note and made another re-Sell order today (#2,672.80 entry point - #2,660.80 closing point) few moments ago. Technical analysis: Following the #2,707.80 local High’s rejection, the Price-action pulled back on a Daily chart’s Engulfing Bearish candle, making an expected Bottom at #2,662.80 - #2,672.80. This doesn't alter my perspective and I am not concerned if I miss any potential upside correction leg towards #2,700.80 benchmark as the current Intra-day levels may be Volatile even for Gold standards. Hourly 4 chart appears to be healthy Descending Channel taken from Double Top formations (Lower High’s / Higher High’s) and a #2,652.80 - #2,662.80 Support base. I am not interested in engaging on additional Risk outside my (more comfortable) Short benchmarks. My position: I have made quick buck few moments ago and will keep operating with Selling order within my well know range. I do not expect any Bullish Short-term reversals as Trade remains "Sell every High's" which Gold delivers. I do expect Gold to continue Trading under Selling pressure and eventual #2,652.80 benchmark break-out.
OANDA:XAUUSDShort
by goldenBear88
XAU THE COLLAPSE/RETRACE : TIME TO QUIT BUYINGi expect it to start at one of the 2 points and end at one of the levels below rationally speaking maybe an 8% decline the rally might lead to a crash/retracement depending on whatyou call a crash 8%,25% idk. firstly what lead to this increased activity in gold central banks demand The growth was wild this year fueled by a race for dominance among currencies as the dollar poses more uncertainity and trust (the premise of money in this confidence game) regional conflict Wars oh welp buy gold fed policy pivot jerome powell ................. overbought and a lot of buyers are gonna be cashing in their profits but increased mining activity as the worlds scours for whatever gold they can buy so still a whole lotta room to run
PEPPERSTONE:XAUUSDShort
by Bekiumuzi_Dube
Lingrid | GOLD Head and Shoulders Pattern EmergesOANDA:XAUUSD market has plunged during the London session, breaking and closing below the psychological level of 2700. Prior to this drop, the price action appeared to be forming a head and shoulders pattern, which is typically a reversal formation. Additionally, it has broken and closed below the upward trendline that has supported the price since the beginning of August. While the major trend remains bullish on the higher timeframes, I believe the market may be entering a deeper correction phase, as mentioned in my weekly forecast. With high-impact news today, we can expect heightened volatility in the NY session. I expect the market to retest the trendline and the resistance zone at 2700, followed by a bearish move towards the previous monthly low. My goal is support zone around 2615. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDShort
by Lingrid
14
Gold, strong support coming inHello everyone, after the election in the US Gold started a sharp pullback and lost 9% within 2 weeks. Now the price reached very strong support zones, built from former consolidations. These zones also match with order blocs on the weekly, 4H and 1H time frame (not shown on the chart). The RSI is highly oversold and the drop was the biggest one this year. All in all I think it's time for a correction at least. According to the Elliot wave theory we finished three waves down, the C wave was formed by a five wave move which is very common on five waves. If you are interested in the micro count, let me know in the comments. The orange area shows the potential resistance for the larger B wave. The green support zone should ideally hold to keep the bullish trend alive and the upper zone shows the fifth wave targets. The price could easily extend to 3000 dollar before a major correction should come.
FXOPEN:XAUUSDLong
by Kyrean
What are your thoughts on Gold? Possible Rally??Could we see a rally back to Structure break or Area of Interest??? -Price has broken through and retested Bullish Trend line -Price has broken through Structure Swing Low - LH Created Thesis: Wait for price to pull back to 1)Structure break or 2) Area of interest Notes: bearish run is rejecting Daily lvl 2558 W/ Massive rejection wick. 1) Rally to Area of Interest would be around 50% prz. (Head & Shoulders R Pattern) 2) Rally to Structure low (MSS) would be a 23.6prz.
OANDA:XAUUSDShort
by brianfj
XAUUSD weekly swing trade target 790 pipsBack again with another swing trade this week, utilizing trend lines and Fibonacci levels. I anticipate that upon opening, Gold will rise approximately 120 pips before reaching and adhering to both the daily trend and the Fibonacci 0.618 level, followed by a retracement. Setup: At the Asian market open, aim for a buy up to 2578/9 for an estimated 150 pips before reaching our target level of 2580 and then selling off. As always best way to enter these trades is wait for break and retest before entering. Chart is on the 1 hour time frame. The last two weeks have seen all the swing trades perform successfully, so I'm expecting this one to follow suit. As always trade safe don't overleverage and as always use a reasonable stop loss
OANDA:XAUUSDShort
by F0rexBorex