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GOLD trade ideas

Gold breaks 2,800Gold 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.
OANDA:XAUUSD
by TheBraveGirl
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
Brothers, my wavy man is here again. Was yesterday’s fuck perfecGold 1-hour level wave count: Accurate analysis yesterday showed that the purple fourth wave correction ended. Every time I grab the bottom or the top, no one dares to say that to me. Accurately grasp the bottom and escape from the top. Gold went up in five waves yesterday, and the expectations were perfect. Yellow 1 wave is completed. The second yellow wave is currently correcting. Pay attention to going long at Fibonacci 0.382-0.5-0.618, and the third yellow wave will start to rise soon, heading towards 2761-2790.
OANDA:XAUUSDLong
by qwekjc
1
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone, Our 1H chart is idea playing out perfectly, as analysed!! As advised yesterday we got the 2746 hit, followed with ema5 cross and lock above 2746 opening 2752 and 2762. Both targets were hit today completing this range range. We will now look for ema5 lock above 2762 to open the range above or failure to lock will follow with a rejection into the lower Goldturn for support and bounce. 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 TARGETR 2746 - DONE EMA5 CROSS AND LOCK ABOVE 2746 WILL OPEN THE FOLLOWING BULLISH TARGET 2752 - DONE 2762 - DONE BEARISH TARGETS 2736 - DONE EMA5 CROSS AND LOCK BELOW 2736 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2728 (DONE) - 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
17
The Trump effect is over - Gold is back on the upsideGold (XAU/USD) came under heavy selling pressure ahead of yesterday's market action, falling to near 2,650, a recent low. The dollar rallied strongly after Republican candidate Donald Trump won the US presidential election to become the 47th president, triggering a sell-off in gold. Concerns about deficit spending and expectations that the Federal Reserve will be less aggressive in cutting interest rates have also pushed up US Treasury yields and shifted investor interest away from non-yielding gold. In addition, the risk appetite shown by the strong rebound in US stock futures suggests that gold will also continue to fall. However, with the change of the Federal Reserve's interest rate cut expectation in November, the gold price will still have a certain rebound. From the current point of view, before gold did not fall below 2650 points, gold this wave of Trump effect decline has ended. Therefore, in the post-market operation, I recommend that you keep an eye on the situation here, if it can stabilize above 2,650 again. Then, it is possible to rely on 2650 positions or more than 2650 to enter the long. Keep looking above 2700.
OANDA:XAUUSDLong
by fm4tfm4t
Gold rebound correction awaits non-farm! Evening gold analysis aFrom the technical point of view, gold bulls retreated under pressure yesterday, resulting in a large decline, the lowest hit around 2731 and then stopped, down about $58, also broke through the early support points, the daily line lost at the short-term average, and closed at the big negative line form, and a small counter-draw after the morning opening. What needs to be tested is the position of 2758 line of the top and bottom conversion in the early stage, which is also related to the long and short watershed in the later stage, and this position will also be an important point of contention for the European plate in the day, once under pressure, it will likely continue in the later stage, and the current reverse draw has also reached the vicinity of 382 this retrusion, this position is also the key point of contention for the long and short, and the evening is non-agricultural. The previous value is 25.4, expected 11.3, then this announcement value is likely to be greater than expected, then gold will likely dive directly, and the key support below is maintained at the early rise point and yesterday's low 2730 line, once continue to break this position, then the later short will likely continue to open. Within days, we still directly placed empty orders around 2757-60; At present, the price fell below the upper and lower line, but did not close below, the focus is whether today can continue, today is the first day of the monthly line change, the gap is large, the probability of compensation this month is very large, and the four-hour lower track support rebound, the overall bottom, the hourly chart big Yin down even broke the lower line and acceleration line, currently in the weak correction, The key is to recover the lower line and the acceleration line, and the recovery will return to the sub-high of the second drop last night, so today pay attention to two points, one is 2758, the other is 67, the lower is still 30 support, followed by 2718-08 here; Gold 1-hour moving average has begun to turn downward, if gold 1-hour moving average formed a dead cross down, then gold downward space continues to open, gold rebound pressure 2758 pressure, European plate 2758 continue to meet the high altitude, the current price around 2755 first empty. In general, today's gold short-term operation ideas suggested rebound short, supplemented by a pullback to do more, the above short-term focus on 2758-2760 first-line resistance, below the short-term focus on 2738-2740 first-line support
OANDA:XAUUSD
by TheBraveGirl
Gold on possible Bearish cycle / #2,600.80 TargetFundamental analysis: The Price-action swings currently inside a #2,217.80 - #2,732.80 Neutral soft Rectangle on Hourly 4 chart and comprehensibly Bearish values across all Hourly and Minute charts. I am uninterested on the extra Risk involving Trading outside my breakout points as I am already on Selling order. It is interesting to see however that Daily chart although isolated within Descending Channel (started on recent Intra-day slide) looks more like a Medium-term Bearish reversal especially as long as the #2,752.80 - #2,762.80 Resistance zone stays intact (the Neutral to Bearish High’s / Low’s is the first signal in support to this argument). This is further backed up by the fact that today’s session observation on how Hourly 4 chart appeared to form strong Double Top formation is now Technically seen on the Bearish shift on most of my indicators. This means that most of the Buyers started Profit taking process and more Selling pressure will be visible also Fundamentally since Trump won the Elections. This will add more confidence on the markets (which I mentioned on my recent remarks) and Technically as well Gold might deliver another #100 - #150 point decline ahead. My position: I have engaged Medium-term two re-Sell orders on #2,745.80 (as in previous Buying orders, #2.0 and #3.0 Volumes on each order) with #2,600.80 as an optimal Target. Also, I will start Shorting Gold as Technically as evident on previous cycles, #2,790.80 should represent Ultimate Top zone for now and #2,552.80 - #2,600.80 poses as an excellent Medium-term Target on Gold.
OANDA:XAUUSDShort
by goldenBear88
XAUUSD - Today's Setup - 04/11Good morning, traders! 🌞 Gold started its downtrend last week, so I’m keeping an eye out for sell opportunities. For now, I’ve got two key zones on my radar 📉—both align well with my confluences and look like promising spots to jump in. That said, I’ll be holding off on any trades until my payout day later this week. Just staying patient and waiting for the right moment ⏳. Wishing everyone a profitable week ahead! 💸✨ Happy trading! 🎉
FX:XAUUSDShort
by alexm1011
1
GOLD has corrected down, facing a BIG event weekOANDA:XAUUSD rose quickly after weak non-farm payrolls data, then fell sharply from highs above $2,760/ounce and finally closed lower, closing at around $2,736/ounce. Gold prices quickly rose to 2,760 USD/ounce after the release of US non-farm payroll data, showing that only 12,000 new non-farm payrolls were added in October, much lower than the 113,000 expected. expected and much lower than in September. However, gold prices have since dropped and lost all of their price gains during Friday's trading day. Hit by hurricanes and strikes by aerospace factory workers, U.S. nonfarm payrolls increased by just 12,000 in October, the smallest increase since December 2020. Other data from the nonfarm report showed the unemployment rate remained at 4.1% in October, in line with expectations, and the increase in average hourly wages last month increased to 4.0% compared to compared to the same period last year, in line with expectations and higher than the 3.9% revision in September. Hourly earnings increased 0.4% month over month, above the forecast 0.3% and the revised 0.3%. The average number of working hours also increased to 34.3 hours, higher than expectations of 34.2 hours, but still equal to the previously adjusted increase. As noted by readers in the short comments, it is very possible that gold's downward adjustment period is not over yet as Friday's economic data is considered very positive for gold. If it is "theoretically" correct, gold should increase sharply as soon as the data is released, but there are possibilities that the market has digested all the previous data or the data will react after more fundamental impacts. another version. Therefore, I needed to warn about this phenomenon with short comments! Tensions in the Middle East have helped limit gold's decline The BBC reported that Hezbollah launched a rocket attack in northern Israel, killing seven people. It was the worst attack in months and dashed hopes of a ceasefire in the war in the Middle East. There are too many risks ahead of the US election, as well as rumors about Iran retaliating against Israel. Polls show a tight race between Donald Trump and Kamala Harris in next Tuesday's US presidential election. Gold is a traditional hedge against economic and political instability and tends to thrive in low interest rate environments. It must be noted once again that, although gold and the Dollar have been increasing together recently, it does not mean that this correlation has been lost. Gold and the US Dollar have a negative correlation and if Trump is elected, the US Dollar will continue to get stronger because of Trump's policy trends (This has been sent to readers in many publications), the US Dollar will be stronger. This means that gold will be subject to correlation pressure. This week will be a trading week with many "huge" events with the Presidential election and the US Congress along with the monetary policy decision of the US Federal Reserve (Fed). It is expected to have a STRONG and DEEP impact on the gold market trend. Economic data to watch out for this week Monday: Reserve Bank of Australia monetary policy decision Tuesday: ISM Services PMI, US Presidential and Congressional elections Thursday: Bank of England monetary policy decision, US weekly jobless claims, Federal Reserve monetary policy decision Friday: University of Michigan preliminary consumer sentiment Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold has a 2-day bearish correction with the short-term uptrend temporarily lost as price activity falls below the price channel. However, this is not a negative thing because the nearest support at 2,725 USD still keeps gold above it. The relative strength index is pointing down from the oversold area but has not yet reached the 50 level, the 50 level is considered the nearest support point in terms of momentum. Although gold has adjusted down, in the overall picture it still has an uptrend with long-term and medium-term price channels and important support at the EMA21 level. As long as gold remains above the EMA21 and within the price channel, it still has a bullish outlook and the notable points are listed below. Support: 2,725 – 2,710 – 2,700USD Resistance: 2,745 – 2,768 – 2,786USD SELL XAUUSD PRICE 2759 - 2757⚡️ ↠↠ Stoploss 2763 →Take Profit 1 2752 ↨ →Take Profit 2 2747 BUY XAUUSD PRICE 2708 - 2710⚡️ ↠↠ Stoploss 2704 →Take Profit 1 2715 ↨ →Take Profit 2 2720
OANDA:XAUUSD
by Xayah_trading
Scalping ! XAU ! Trendline Recovery 2678SCALPING XAU / USD ⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: The US Federal Reserve’s policy decision on Thursday is in focus, with markets widely anticipating a 25 basis point rate cut, which could support gold by lowering the opportunity cost of holding non-yielding assets. According to the CME FedWatch Tool, there is a 98.1% chance of this quarter-point cut in November. ⭐️Personal comments NOVA: Trendline + DOW , Gold price recovered briefly - for the upcoming decline to 2606 ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2668 - $2670 SL $2673 TP1: $2665 TP2: $2662 TP3: $2658 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL 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:XAUUSDShort
by Nova-Scalper
2
GOLD prices fall under the weight of yields and exchange ratesWorld gold prices fell in the trading session on Friday (November 1) under pressure from rising US Treasury bond yields and the USD exchange rate. However, the need to hedge risks ahead of the US presidential election next week helps limit the decline in gold prices. At closing, the spot price of gold in the New York market decreased by 7.9 USD/oz compared to the closing level of the previous session, equivalent to a decrease of 0.29%, to 2,736.5 USD/oz - according to data from the exchange. World gold prices decreased by 0.44% this week. On Thursday, spot gold prices set an all-time record at more than 2,790 USD/oz. The main source of downward pressure on gold prices this week is the increasing trend of US Treasury bond yields and the USD exchange rate. The 10-year US Treasury bond yield increased nearly 10 basis points on Friday, reaching 4.382%, the highest in the past 4 months - according to data from CNBC news agency. Yields increased due to falling bond prices as investors strongly sold US Treasury bonds ahead of the US presidential election next Tuesday. The reason leading to investors selling US debt is concerns about the increasing federal budget deficit whether Mr. Donald Trump or Ms. Kamala Harris are elected. The Dollar Index, which measures the strength of the USD against a basket of six other major currencies, increased 0.33%, closing Friday's session at 104.32 points - according to data from MarketWatch. This week, the index increased by 0.06%, bringing the total increase in the past month to 1.75%. The USD is increasing in value because this currency is also promoting its role as a safe investment channel in the context of the approaching US election.
OANDA:XAUUSD
by Xayah_trading
Is Gold's correction over?In my recent analyses, I warned that a significant correction in Gold prices was inevitable. True to this prediction, the election of Donald Trump triggered a sharp 1,000-pip drop in Gold's value. However, yesterday, the market rebounded strongly, recovering 700 pips from that initial decline. The big question now is whether this correction has run its course. In my view, we may have reached a bottom, and Gold could be poised to resume its overall uptrend. I’m currently looking for buying opportunities on dips.
OANDA:XAUUSDLong
by Mihai_Iacob
XAUUSD: Key Resistance 2712-2720Following the rate decision, gold saw a slight pullback as expected, then rebounded near support. Those following the long strategy have locked in profits. Looking ahead, the focus now shifts from support to resistance, specifically in the 2712-2720 range. If gold reaches or approaches this resistance zone, it may offer an opportunity for short trades. However, caution is advised; avoid excessive risk, and stay alert to signals of a potential trend shift in the broader timeframe.
OANDA:XAUUSDShort
by Mia-Signal
1
Calling All Pro Traders!This is the action you’ve been waiting for as it dances around critical levels! XAUUSD Outlook:Currently in a tight range between 2692 and 2700 – a major battle unfolding here! Will it break out soon? Keep those eyes peeled! Downside Alert:If XAUUSD slips below this key range, it could trigger a swift move lower! Targets on the radar: 2680 and 2667. Be ready to act! Upside Potential: On the flip side, if we see a breakout above this zone, it could set the stage for an explosive rally! Next targets in sight: 2704 and 2708. Is the bulls' momentum building? Let’s Chat! What’s your take? Will we see a breakout or a reversal? Drop your thoughts below! Together, we’re navigating one of the most exciting moments in the market! Stay sharp, stay strategic – let’s go for the win!
TVC:GOLD
by luxgoldtrader
1
Gold is consolidating in a narrow range, and the market is waiti Gold prices retreated slightly in the early trading, reaching a low of around $2724-25, but quickly recovered the lost ground. Voting for the general election has begun, and the preliminary results are expected to be announced at noon tomorrow. Taking previous elections as an example, the official results may take several days or longer, which is expected to further exacerbate market volatility. Therefore, no matter how you operate, you need to strictly stop losses. After the morning decline, in principle, you need to go short once in the afternoon, and the position of the short should not be too high. The pattern of the early trading belongs to the support sideways weakening break. From the perspective of the market, the continuous low point test has been touched many times. The more tests are made, the less meaningful the support is, and the greater the probability of breaking. Under the general election, light positions are arranged. The high point of 2737 in the afternoon is the boundary between strength and weakness. If it breaks again, the arranged 2735-36 short positions need to be adjusted. Today, the retracement time is set to around 4 o'clock in the European session. Once it breaks through 2730 again, it is expected to test 2720-18, which happens to be the target position for short positions and also the position for long positions to consider layout! For the past two days, we can only wait and see. Avoiding risk events is a safe strategy. What this market lacks the most is opportunities! Be patient and wait!
FXOPEN:XAUUSDShort
by Yuliya1l11
1
GOLD /Bearish Momentum StrengthensTechnical Analysis The price has declined and stabilized within a bearish zone after breaking a strong support level at 2,758. Today, it's possible to see a retest around 2749, followed by a potential bearish trend toward 2712. Bearish Scenario: The price appears set to retest 2749 before resuming a bearish trend toward 2721 and 2,712. Bullish Scenario: Alternatively, a 4-hour candle close above 2,758 would signal a potential bullish move, with targets at 2,775 and 2,788. Key Levels: Pivot Point: 2745 Resistance Levels: 2758, 2764, 2775 Support Levels: 2731, 2712, 2695 Trend Outlook: Above 2758: Uptrend Under 2758: Downtrend previous idea:
OANDA:XAUUSDShort
by SroshMayi
Gold: another fresh new ATHOngoing geopolitical tensions and mixed macro data in the US pushed the prices of gold to the newest all-time highest level in this year. Gold reached the highest level at $2.785 on Wednesday, but reverted a bit back on Friday, amid US Dollar strengthening, at level of $2.735. The US Treasury yields also gained after disappointing Non-farm payrolls data for October, which had an additional impact for the price of gold. Despite the new ATH, the RSI is showing that the price of gold has moved from the overbought market zone. The indicator moved down till the level of 59 on Friday. This is indication that the market might soon start looking at the oversold market side, however, it will take some time until the clear side is reached. For a few months now there has been no change with moving averages of 50 and 200 days, as they both move as two parallel lines with an uptrend. The week ahead could be a tricky one. There are US Presidential elections on November 5th, and FOMC rate decision on November 7th. Both events might bring higher volatility on markets. Any trades should be taken with precaution. As per current charts, there is potential for a further correction of the price of gold, where the $2,7K level might be tested. A correction below this level might trigger a $2.680 level. At this moment a further move to the upside could be triggered in case of further geopolitical escalation in the Middle East. Still, as previously noted, a higher volatility might easily be triggered in the week ahead.
OANDA:XAUUSD
by XBTFX