Gold short SHORT ! Gold short guys , open of the NY session we are going to see a big drop !Shortby zensvjUpdated 333
Gold Trade Plan 24/02/2025Dear Traders, Gold continue Uptrend without any correction, i have 2 Scenario`s for this week and both of them is bullish Scenario, 1- New ATH , with Strong Candle and Target is 2970 2- Correction to 2900 Area and bounce off to 2970 i dont recommend Sell , only find Buy opportunity, If you enjoyed this forecast, please show your support with a like and comment. Your feedback is what drives me to keep creating valuable content." Regards, Alireza!Longby alirezak2
XAU/USD - Gold Weekly Analysis(24th Feb 2025 to 28th Feb 2025)XAU/USD - Gold Weekly Analysis(24th February 2025 to 28th February 2025) Weekly recap: To recap last week, our main focus on Gold during the second half of the week with United States Initial Jobless Claims. Gold to start off this week has found support around 2895.00 KL before continuing higher into the second half of the week at new ATHs at 2945.00 price point and remained in a range between 2945.00 and 2929.00 KL. Reminder on Gold: Gold is still HTF bullish, but we must keep in mind that gold is at a critical price point and currently in a price range. Stay alert on news headlines (especially from Trump) but it wouldnโt be out of the ordinary to see profit taking moves from new ATHs to better demanded prices. Since the start of 2025 Gold has gave us picture perfect bullish sequences, so remain adaptive to possible profit taking moves from ATHs Trade ideas for upcoming week: Due to Gold being stuck in a intraday range I will remain bullish on Gold and be more selective and patients until we break lower or higher. Bullish bias: 1 - FTB below 2929.00KL Bearish bias: 1 - FTB above ATHs at 2955.385KL 2 - Clean break and holds below range at 2920.00KL along with DXY strength Economic calendar outlook: In terms of economic events this week our main focus will be more towards the second half of the week with United States Durable Goods and GDP Growth Rate on Thursday and to close off the week we have United States Core PCE data along side with Personal Spending and Income data. 1 - Thursday : Durable Goods and GDP Growth Rate 2 - Friday : Core PCE and Personal Spending / Income Data Daily Reminder: -Caution- Stay Smart, Trade safe, follow your trading plan, follow your risk management plan, focus on long term vision, keep emotions out and avoid crashing your account.by KamauRemmers3
Gold AnalysisGold will continue to bullish Analysis with fibonacci retracement Trade on ur riskLongby FizonacciUpdated 446
XAUUSD15min trade bas on fib level 0.618% entry 2948 Stop Loss 2957 Take profit 2936 RRR 1:1Shortby Trad3MaX-AdEELUpdated 1
Gold Teeters on the Edge: 2942 Retest Before the Big Leap!XAU/USD: Gold Eyes New Highs as Market Dynamics Align for Further Upside Gold (XAU/USD) is once again testing its all-time high (ATH), a critical technical level that historically increases the probability of continued upward momentum. With the psychological 3000 level gradually coming into focus, the market remains on edge, closely monitoring key economic data and geopolitical developments that could fuel the next leg higher. Current Market Conditions & Fundamental Drivers Goldโs latest consolidation phase follows an impressive rally, maintaining its long-term uptrend while digesting recent gains. The metal remains well-supported by a combination of macroeconomic and geopolitical factors that continue to favor bullish sentiment: Trumpโs Tariff Plans: Former U.S. President Donald Trump has reiterated his stance on imposing tariffs if re-elected, a policy move that historically strengthens gold as investors hedge against trade uncertainty and inflationary pressures. Federal Reserveโs Dovish Shift: Market expectations for the Federal Reserve to initiate rate cuts remain elevated. While Fed Chair Jerome Powell has hinted at the necessity of monetary easing, he has refrained from providing a specific timeline. This uncertainty has kept the dollar under pressure, indirectly benefiting gold. Weakening Dollar & Falling Bond Yields: Recent Producer Price Index (PPI) data reinforced a dovish sentiment, signaling softening inflationary pressures. The dollar and U.S. Treasury yields have reacted accordingly, weakening in response and creating a more favorable environment for non-yielding assets like gold. Markets have also digested the delay in tariff implementations and mixed messages from policymakers. While the rhetoric from Powell and Trump suggests a growing consensus on the need for lower interest rates, the lack of concrete action leaves room for speculation-driven volatility. Technical Landscape: Key Levels & Price Structure Gold is currently consolidating just below its ATH, with a delicate balance between profit-taking and renewed buying pressure. The key technical levels to watch include: Resistance Levels: $2942.6 โ The immediate barrier gold needs to clear to confirm a breakout. $2950 โ A psychological and technical level that, if breached, could accelerate bullish momentum toward the much-anticipated 3000 mark. Support Levels: $2929 โ A critical short-term support zone that has previously acted as a springboard for renewed buying interest. $2922 โ A deeper support level where buyers may step in to defend the uptrend. $2908 โ A major pivot point; a break below this level could signal a temporary shift in momentum. Potential Scenarios & Market Outlook Direct ATH Retest & Breakout If gold manages to sustain its momentum and push past $2942-$2950, a test of ATH will be imminent. A decisive breakout above this level could open the doors for a rapid move toward $2975 and beyond, with $3000 becoming a realistic short-term target. Support Retest Before Further Upside Should gold fail to break above immediate resistance, a pullback toward $2929-$2922 remains a plausible scenario. This retracement would likely serve as a healthy correction, providing stronger support for the next leg higher. Deeper Correction Toward $2908 While less likely in the absence of a major catalyst, a sharper decline could see gold testing $2908. Such a move would challenge the uptrend in the short term but might present an attractive buying opportunity for long-term bulls. Market Catalysts Ahead: U.S. Retail Sales Data The upcoming U.S. retail sales report is poised to be a key market-moving event. Strong consumer spending data could momentarily boost the dollar, exerting short-term pressure on gold. Conversely, weaker-than-expected retail numbers would reinforce the Fedโs dovish stance, adding fuel to goldโs bullish narrative. Final Thoughts: Bullish Momentum Intact, Eyes on ATH Gold remains in a strong uptrend, with macroeconomic factors and technical signals aligning in favor of further gains. While a support retest is possible before another rally, the overall trajectory remains bullish, with the 3000 milestone inching closer. Traders and investors should keep a close eye on resistance levels and upcoming economic data, as they could dictate the next major move in goldโs journey toward new highs.Longby lonelyPlayer0Updated 4
XAUUSD CONFIRM 100 PIPS MOVE IS HERE๐จ Attention Traders! ๐จ ๐ก Gold is in a no-trade zone! ๐ Stay patient as we monitor key levels. ๐ Critical Zone: 2919 - 2945 (Support & Resistance) ๐ป Bearish Breakout? If the price drops below 2919, weโll target: ๐ฏ TP1 = 2909 ๐บ Bullish Breakout? A move above 2945 signals upward momentum: ๐ฏ TP1 = 2955 ๐ฅ Stay sharp & trade wisely! ๐ฐ๐ by BB_UNITEDUpdated 1117
Gold is expected to continue to reach new highs of 2970-2980Dear Traders, Although gold has slightly retreated after touching around 2948, it is still holding above the 2935-2930 region, maintaining a strong bullish trend. Based on the current gold structure, gold has repeatedly failed to break the 2920-2925 support zone during its pullback, and has not formed a sustained downtrend. On one hand, this reflects strong buying support at lower levels; on the other hand, the pullback space is limited. Therefore, before any trend reversal, gold is likely to have another rally to test new highs. I expect that if gold manages to hold above the 2950-2955 region in this rally, it will likely attempt to reach the 2970-2980 zone. So, for short-term trading, leading into Thursday and Friday, we should primarily focus on going long on gold, with key support around the 2940-2930 region. If gold reaches the 2970-2980 region, we can then consider shorting it. Bros, are you optimistic about gold continuing to hit new highs? Do you know how to grasp the trading rhythm? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!Longby Trader_MarvinUpdated 2
GOLD short-term analysis, shock range 2915~2950Gold has risen for 8 consecutive weeks. According to the time period calculation, it has reached the key time window. In the general upward trend, 7-9 consecutive rises are regarded as a turning point in the medium and short cycle (changing time window). Therefore, the upward space of this round of bullish trend is gradually compressed. Entering the end, the daily chart price maintains the previous high and adjusts below. The price has formed a wide range of high-level fluctuations for three consecutive trading days. At present, the MA10/7-day moving average is shrinking, and the RSI indicator is running above the high 70 value. Be careful of the high-rise and fall of the medium. The short-term four-hour chart Bollinger band closes to the upper track 2950 and the lower track 2924. The current price is adjusted at the middle track 2937, and the moving average sticks to the RS1 indicator at the middle axis 50. The trading idea of โโgold at the beginning of the week is to sell at the rebound high (pay attention to the opportunity of band layout). Last week, the price of gold hit a record high of $2,955 before falling back, indicating that the selling pressure at high levels has increased, but the overall trend is still bullish. After eight consecutive weeks of rising, the market has a need for technical corrections. The daily line has been sideways, indicating that the long and short forces are evenly matched, the market has entered a high-level consolidation, and the MACD has crossed, and there is a need for a correction! The answer is to exchange time for space, waiting for further strong breakthroughs, or brewing a wave of downward corrections? This week, continue to pay attention to the breakthrough of the 2916-2955 range, and follow up after the break. The strength of Monday this week is the key point for the long and short choices of gold. If gold continues to break upward steadily on Monday, then gold is now showing the form of refueling in the air. If it goes down, gold may be the beginning of a change. The key to gold this week is still at 2955. Key points: First support: 2915, second support: 2908, third support: 2893 First resistance: 2933, second resistance: 2946, third resistance: 2955 Operation ideas: BUY: 2913-2916, SL: 2909, TP: 2940-2950; SELL: 2947-2950, โโSL: 2959, TP: 2920-2910; by Jun-GoldAnalystUpdated 3
XAU/USD: The Only Way Is Up!If it appears as if the price of spot gold (XAU/USD) chalks up an all-time high every week, it is. In fact, the precious metal rallied northbound for eight consecutive weeks, and opposing bearish themes are few and far between. Geopolitical risks, uncertainty surrounding US President Donald Trumpโs tariff plans, and limited resistance until around US$3,000 (as shown on the daily chart) seat gold in a robust position. Another observation supporting goldโs position I feel worth highlighting is found on the monthly chart. Despite the Relative Strength Index testing resistance of 87.31-82.20, the next upside objective lies between US$3,264 and US$3,187, formed between 1.618% and 1.272% Fibonacci projection ratios, respectively. Goldman Sachs also recently updated their gold projection to US$3,100. While monthly and daily flows suggest additional outperformance, the potential head and shoulders top pattern on the H1 timeframe indicates a move to the downside could be in store before further buying is seen. As you can see, the patternโs neckline โ taken from the low of US$2,918 โ has yet to be engulfed, therefore there is still a chance the pattern will not complete and price continues to push higher from current levels. However, in the event the yellow metal does engulf the neckline, it is common for chart pattern enthusiasts to apply a downside profit objective by extending the value between the head and the neckline from the breakout point. by FPMarkets2
Looking forward at this continuation Gold formed a continuation pattern, I'm looking forward to a new ATHLongby VinsDaSoul2
XAUUSD - 1hr | Wyckoff EventSimple Trading: Distribution Phase First, we can see that gold has started to consolidate. Once we see this, we look back at previous candles to identify the patterns in this phase: (1) preliminary resistance (2) the last buy (3) a retest to confirm support (4) confirm resistance without making a higher high. (5) Higher high (typically a FAKEOUT) We are waiting for the price to confirm the last step (6) to complete the pattern. If the price falls to SUPPORT, creating a LOWER LOWER, the Distribution Phase is complete. Expect gold turn to remain bearish. Falling as low as 2815.Shortby nikdobii115
#xauusd-Gold ScenarioHello dear friends According to the wave counting, we are still on the upward path of gold. It seems that the best target for the ceiling of the upward wave in the daily time frame is the price range of $3150, but this path is accompanied by corrections, which our forecast can be seen in the image. Good luckby drneowave3
Gold (XAU/USD) Analysis โ 1H & Daily TimeframesCurrent Price: $2,936 1-Hour (H1) Chart Analysis: ๐ Consolidation Below Resistance โ Gold has been struggling to break above a key resistance zone around $2,950, which is marked by multiple rejections (red resistance line). The price action suggests range-bound movement in the short term. ๐ Bullish Wick & Support Holding โ A notable bullish wick appeared, showing that buyers stepped in at lower levels, reinforcing support around $2,920. This is a sign that buyers are still interested in keeping gold above key levels. ๐ Short-Term Trend โ Despite minor pullbacks, gold remains in an uptrend on the H1 timeframe, supported by higher lows and the trendline support (green line). ๐ Indicators: โ๏ธ Moving Averages suggest supportive momentum, as price is still holding above the short-term EMAs. โ๏ธ A breakout above $2,950 could push gold toward $2,980 - $3,000. H1 Prediction: ๐ Bullish Scenario: If gold breaks and holds above $2,950, expect an upside move to $2,980 - $3,000. ๐ Bearish Scenario: A rejection at $2,950 could trigger a pullback toward $2,920 - $2,900. Daily (D1) Chart Analysis: ๐ Strong Uptrend & Channel Formation โ Gold has been in a steady bullish trend, forming higher highs and higher lows within an ascending channel (red trendlines). ๐ Key Resistance at $2,950-$3,000 โ The next major psychological resistance is around $3,000, which aligns with the upper trendline resistance. If momentum continues, gold could test this level soon. ๐ Strong Support at $2,880-$2,860 โ The green trendline acts as dynamic support. If gold retraces, this zone should hold as key buying support before another push higher. ๐ Indicators: โ๏ธ Gold remains well-supported by trendlines and moving averages. โ๏ธ A break above $2,950 will likely accelerate buying interest toward $3,100. โ๏ธ If gold retraces, buyers are likely to step in around $2,880-$2,860. D1 Prediction: ๐ Bullish Scenario: If momentum continues, gold could break above $2,950 and target $3,000-$3,100 in the coming weeks. ๐ Bearish Scenario: A pullback toward $2,880-$2,860 is possible before resuming the uptrend. Final Outlook: ๐ Overall Bias: Bullish ๐ธ Short-Term (H1): Watching for a breakout above $2,950 or a pullback to $2,920-$2,900. ๐ธ Long-Term (D1): If gold holds above $2,880-$2,860, the uptrend remains strong with a potential rally to $3,000-$3,100 in the next few weeks. ๐ก Strategy: โ For traders looking to buy: Enter on dips near $2,900-$2,920 with a stop below $2,880. โ For breakout traders: Look for confirmation above $2,950-$2,960 for a push toward $3,000. ๐ Gold remains in a strong uptrend. As long as support holds, the bullish momentum is intact! ๐Longby DhandaTheGreat1
17/02 - Sell then BuyI believe we will be selling in the short-term, but buying in the long term, unless market sentiment and changesLongby Harlequin_FXUpdated 3
Gold looking like its ready for the FULL SEND Down!what's up my good people! Looking here at gold on the 4hr time frame we have a few things in play that we want to be paying attention too! as soon as we break this small tight consolidation trend // pattern I'm anticipating a full drop back down to support! However if we break down below the support we can carry on down to our next level of support this is where we have our TP 2 area aligned reason for the selling bias here is we have seen price break up and immediately drop down acting as a potential liquidity run to the down side not once but both times! price on the rsi is showing price action is continuing to go down while price action is continuing to the upside! waiting for trend to break down to the downside and will enter immediately to the down side!!! Shortby therealbinarymasterUpdated 6
GOLDGold still have short term upside towards 2970s level and then we can see some reaction towards downside.by WeTradeWAVES6
XAUUSD ( GOLD ) | 1H | SELL NOW Please don't forget to like ๐๐ป SIGNAL ALERT SELL ( GOLD > XAUUSD ) - 2952,0 - 2954,0 ๐ขTP1: 2950,0 ๐ขTP2: 2944,0 ๐ขTP3: 2938,0 ๐ดSL: 2965,9 High Risk - Yรผksek Risk RISK REWARD - 2,36Shortby TraderTilkiUpdated 3
GOLD โ ABC Retracement Wave Forming!GOLD is currently forming an ABC retracement wave, and Wave A is in progress. Based on technical analysis, the expected target for Wave A is around $2880. ๐ Key Points: ๐น Wave A is the first leg of the corrective pattern, with a potential target near $2880. ๐น Wave B may retrace to key Fibonacci levels before the final Wave C move. ๐น This analysis is based purely on technical structure and retracement confluences. โ Disclaimer: This is NOT financial adviceโfor educational purposes only. Always conduct your own analysis and risk management before making any trading decisions.Shortby shiva560060Updated 4
liquidity sweeps above $2,940 triggering retail FOMO before drop๐ Current Market Overview ๐๐ ๐ฒCurrent Price: $2,942.39 ๐ High of the Day: $2,950.01 ๐ Major Resistance (R3): $2,950.01 ๐ด ๐ Recently Broken Resistance (R2, now Support): $2,940.01 ๐ Key Dynamic Support (50 EMA): $2,940.01 ๐ข ๐ป Psychological Support (S1): $2,920.28 ๐ฆ Institutional Order Flow & Liquidity Analysis ๐ ๐ What does institutional order flow suggest? Liquidity Clusters: Large buy orders stacked around $2,925-$2,920 indicating institutions absorbing liquidity. Smart Money Activity: โ Market makers engineered liquidity sweeps above $2,940, triggering retail FOMO before dropping. โ COT Report suggests institutions shifting into net short positions after hitting $2,950. Liquidity Map Breakdown: Sell Liquidity Stacked at $2,950-$2,955 โ Market makers likely to reject this zone. Buy Liquidity Accumulating at $2,925-$2,920 โ Possible institutional buy zone. โ Best Indicator Combination โ Fibonacci Retracement Levels: 38.2% - $2,940 โ (Confirmed resistance) 50.0% - $2,945 (Moderate resistance) 61.8% - $2,950 ๐ฅ (Max rejection point) โ Moving Averages Confirmation: 50 EMA at $2,940 (Currently tested as support) 200 EMA at $2,945 (Trend resistance level) โ RSI (7) Momentum Confirmation: RSI cooling down from overbought, signaling a potential retracement. โ VWAP Analysis: Price currently near VWAP โ No clear deviation yet. โ MACD Analysis: Bearish crossover forming, indicating potential short-term weakness. ๐ฏ Key Market Manipulation Tactics & Strategy ๐ Common Market Maker Tactics in XAU/USD: 1๏ธโฃ Liquidity Sweeps โ False breakouts above $2,940 to trap late buyers. 2๏ธโฃ Stop-Hunts โ Price may dip below $2,925 to wipe out weak long positions. 3๏ธโฃ Fake Breakdowns โ If price wicks below $2,920 and recovers, expect bullish reversal. โ How to Trade Like Smart Money? Wait for a liquidity grab below $2,920 before longing. If price reclaims $2,925, it confirms bullish accumulation. ๐ Momentum & Trend Indicators Analysis โ RSI: Overbought conditions cooling down โ potential for retracement. โ Stochastic Oscillator: Bearish divergence appearing โ watch for short opportunities. โ Moving Averages Distance: Price extended far from the 50 EMA, suggesting a possible mean reversion. โ Volume Trends: Buying volume declining, suggesting bulls are losing steam. ๐ข Buy or Sell? What is the Best Trade Setup Now? โ ๐ด Sell Setup (High-Probability Short Trade) ๐ป Entry: $2,943 - $2,946 ๐ป Stop-Loss: $2,950 ๐ป Take-Profit: $2,935 (Safe TP), $2,930 (Extended TP), $2,925 (Max TP) ๐ป Risk-Reward Ratio: 3:1 โ ๐ Why Sell? Bearish MACD crossover โ momentum shift. RSI Overbought Signal โ possible retracement. Liquidity Grab Above $2,940 โ Market makers engineered false breakout. โก Ultra-Aggressive Execution Plan ๐๐ฅ โ Step 1: Enter short between $2,943 - $2,946 ๐ โ Step 2: Place Stop-Loss above $2,950 to avoid fake-outs ๐จ โ Step 3: Target $2,935 (TP1), $2,930 (TP2), $2,925 (Max TP) โ Step 4: Monitor volume & institutional order flow to confirm trade. ๐ฅ FINAL DECISION โ MILKING THE MARKET STRATEGY! ๐๐ฐ๐ ๐ Trade Type: HIGH-CONFIDENCE SHORT ๐ Verdict: SELL XAU/USD from $2,943 - $2,946 ๐ฅ ๐ Stop-Loss: $2,950 (Tight & Efficient) ๐ Take-Profit 1: $2,935 โ ๐ Take-Profit 2: $2,930 โ ๐ Take-Profit 3: $2,925 ๐๐ฐ ๐ฆ Institutions are likely taking profits here, leading to a pullback. ๐ WE TRADE TO MILK THE MARKET EVERYDAY! LETโS CAPITALIZE ON THIS MOVE! ๐ฐ๐ฅ๐Shortby MAHARLIKA_FX114
XAUUSD strong analysis It looks like you've uploaded an image of a technical analysis chart for XAU/USD (Gold Spot vs. USD). If you're asking for a disruption or critique of the analysis, here are some points to consider: 1. Resistance Zones Might Not Hold โ The strong resistance and resistance levels marked could break if there's strong bullish momentum. Historical resistance is important, but news events or institutional orders could push through. 2. Support Might Not Be Strong โ The support level identified might not hold if there's a strong bearish move. A break below this could lead to further downside. 3. Alternative Scenarios โ Instead of assuming a range-bound movement between support and resistance, consider: A breakout above resistance leading to a continuation rally. A breakdown below support leading to a deeper correction. A fake-out scenario where price breaks a level but reverses sharply. 4. Fundamental Factors Missing โ The analysis lacks mention of economic data, Fed decisions, or geopolitical factors that significantly impact gold prices. 5. Volume Confirmation? โ Thereโs no mention of volume, which can confirm whether these support and resistance levels are strongLongby Fx_Oliviaa4
GOLD 4H ROUTE MAP TRADING PLAN / READ CAPTION CAREFULLYGOLD 4H Chart Analysis โ 17th Feb 2025 Review of Previous Chart: Entry Level: 2814 Take Profit 1: 2850.15 โ (Hit) Take Profit 2: 2876.95 โ (Hit) Take Profit 3: 2903.76 โ (Hit) Take Profit 4: 2925.85 โ (Hit) To Achive TP5, TP6, TP7 and TP8, please consider the following scenario below. Read the caption carefully. Key Level: 2876 Resistance Level: 2900, 2925, 2942, 2952, 2984, 3017, 3052 Support Levels (Goldturn Levels) : 2876, 2852, 2828, 2803, 2776, 2747 GOLDTURN KEY LEVELS ARE ACTIVATED EMA5 Behavior (Red Line): Current EMA5: 2902.10 * EMA5 is fluctuating between two key weighted levels, with a gap above 2925 and below the 2900 GoldTurn level. * A crossover of EMA5โeither above or below the weighted levelโwill signal the next significant move for GOLD. Bullish Targets EMA5 cross and hold above 2900, will open the following bullish target 2925 โ DONE EMA5 cross and lock Above 2925, will open the following bullish target 2952 EMA5 cross and lock Above 2952, will open the following bullish target 2984 EMA5 cross and lock Above 2984, will open the following bullish target 3017 EMA5 cross and lock Above 3017, will open the following bullish target 3052 Bearish Targets EMA5 cross and lock Below 2900: will open the following bearish target 2876 โ DONE EMA5 cross and lock Below 2876: will open the following bearish target 2852 EMA5 cross and lock Below 2852: will open the following bearish target 2828 EMA5 cross and lock Below 2828: will open the following bearish target 2803 (Retracement Range) EMA5 cross and lock Below 2803: will open the following bearish target 2747 (Swing Range) Trading Plan: * Stay bullish and buy pullbacks from key levels. * Avoid chasing topsโfocus on buying dips. * Use smaller timeframes for entries at Goldturn levels. * Aim for 30โ40 pips per trade for optimal risk management. * Each level can yield 20โ40+ pips reversals. Short-Term Strategy: Anticipate possible reversals at weighted GOLDTURN levels 2876, 2852 and 2828. Leverage 1H timeframe to capture pullbacks around these levels. Target 30โ40 pips per trade, focusing on shorter positions for effective risk management. GOLDTURN levels provide reliable bounce opportunities, allowing you to buy at dip levels. Long-Term Outlook: Maintain a bullish bias while using pullbacks as buying opportunities. Buying near key support levels ensures better entry points and mitigates risks, avoiding the pitfalls of chasing tops. Trade with confidence and discipline. Stay tuned for our daily updates! Please support us with likes, comments, and follows to keep these insights coming. ๐๐ฐ The Quantum Trading Mastery Longby TheQUANTUMTradersUpdated 1