GOLD SELL NOW!!!!!!GOLD made a rejection from the supply zone at 2786 area and am going short scalping down sell from the previous new lows for another higher highs am in on sell right now
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XAUUSD trade ideas
GOLD Key LevelsTVC:GOLD Gold indicators are bullish, if the 4-hour candle opens above 2787 it will rise to 2801 and if the price stabilizes above 2801 it will rise to 2819 and if it breaks this level also it will rise to 2840 . And also If the price drops to 2768 and the 4-hour candle opens below this level, it will drop to 2739.
october 29 review in Gold(XAUUSD)Forecasting 3% to 4% Profit-Taking Opportunities in Gold
Gold prices reached an all-time high today, driven by increased demand for safe-haven assets amid the approaching, last week’s highly competitive U.S. presidential election.
Gold has been steadily reaching new record highs, while other precious metals have also seen gains. However, silver prices have faced resistance near their 52-week peak.
In 2024, gold and silver prices have increased by approximately 35% and 60%, respectively.
In morning today’s US sessions, December gold futures hit a record high of $2,783.95 per ounce, while spot gold prices climbed to $2,771.73 per ounce.
An economic downturn would alter the dynamics affecting the prices of precious metals both silver and gold. Gold was supported by safe-haven demand as the conflict in the Middle East continued. Traders were anticipating Israel's response to Iran following an attack in early October.
Additionally, a 25-basis point reduction by the ECB suggested that major global central banks were positioned to implement further rate cuts, creating a lower interest rate environment that is expected to benefit gold and other non-yielding assets.
Overall, gold prices are considered overbought, yet a combination of factors is driving the current rally.
Despite the strengthening U.S. dollar, gold prices continue to rise, highlighting the ongoing inverse correlation between the U.S. dollar and gold, which adds downward pressure on gold prices.
A stronger U.S. dollar tends to make gold more expensive for investors holding other currencies, as gold is priced in dollars. When the dollar appreciates, it increases the cost of purchasing gold for foreign buyers, thereby reducing the metal's appeal as an investment. This inverse relationship between the dollar and gold often leads to decreased demand for the precious metal in times of dollar strength, as investors seek more affordable alternatives or move to other assets. Consequently, a rising dollar can weigh on gold prices, making it less attractive in global markets.
Short-term traders in the gold market are engaging in profit-taking, capitalizing on recent price increases. These traders, who typically seek to benefit from short-term fluctuations, are selling off their positions to lock in gains. This activity can temporarily pressure gold prices, creating volatility in the market, as selling momentum increases. Profit-taking is a common strategy when traders believe the asset may have reached or is approaching a life time high peak, signalling a potential pullback before prices stabilize or resume an upward trend.
Key Strategies Traders Should Consider Amid Gold Market Volatility
Considering recent market conditions, spot gold (XAUUSD) reached a high of $2,771.73 at morning US sessions, presenting a potential strategic entry opportunity for traders.
If profit-taking occurs and prices continue to fall, spot gold (XAUUSD) could test the 5-day moving average at $2,742.16. A break below this level may trigger a move towards the 20-day moving average at $2,685.32, with further declines potentially reaching the October 10 low of $2,604.15. On the other hand, if upward momentum persists, gold could attempt to set a new record high. However, based on my analysis, spot gold prices are expected to experience profit-taking, with a potential decline of around 3.00% to 4.00% from recent record highs in the coming days.
MCX December Gold Futures price of ₹79,277 per 10 grams reached an all-time high today, acts as a key entry point. Potential downside targets include ₹78,111 per 10 grams, the yesterday’s low. A breach of this level could lead to a test of last Week's low at ₹77,613 per 10 grams, with further declines possibly reaching 15th October’s low of ₹75,766 per 10 grams. A drop below this level would indicate a significant downtrend, with the next support likely around ₹74,757 per 10 grams, this month's low (October 10 low).
Holding Period – Maximum 2/3 weeks.
In conclusion, the current dynamics of the gold market suggest that traders should remain vigilant as profit-taking appears imminent, with expectations of a potential decline of 3% to 4% from recent highs. Key technical levels, including the 5-day and 20-day moving averages, will serve as crucial indicators for market direction. Should gold prices breach significant support levels, such as those observed last Thursday and Wednesday, it may trigger further declines, warranting careful consideration of entry and exit strategies. Conversely, if upward momentum resumes, there could be opportunities for new record highs. As always, a thorough analysis of market conditions, combined with a disciplined trading approach, will be essential for navigating the evolving landscape of gold investments.
XAU/USD: Final NFP before Election Americans continue to rank the economy as their top issue, and the final Non-Farm Payrolls (NFP) report before voting day, offers a crucial signal this coming Friday.
September saw a gain of 254,000 jobs, but forecasts point to a marked slowdown, with expectations hovering just above the 100,000 mark. The expected downturn stems from several factors, including back-to-back hurricanes disrupting the Southeast of the country.
For now, gold is trading below Friday’s close (but for how much longer?) as markets react to limited Israeli action against Iran. Tehran has indicated it won’t retaliate, easing geopolitical tension and potentially reducing demand for the haven asset.
Outlook on XAU/USD (GOLD) 27/10/2024I see Gold either going for All time highs early in the week but if we break below 2,739,79 then i will be looking for sells to 2,720.
GOLD SHORT TO $2,540 (1H UPDATE)Gold has been absolutely dropping since yesterday, which works in our favour!
But? Watch the video to see what could possibly happen next👀
GOLD BUYSLooking to take 75 % Partials at 2770.
Final position close at 2780
Lets see how everything goes
Gold Market Update: Imbalance Creates Pullback OpportunityAs gold prices reach the $2750 through the $2730 range, an imbalance has formed, prompting a daily pullback to seek additional supply support at2772. This correction phase could strengthen the market's foundation, setting up potential for renewed bullish momentum as the imbalance is addressed. follow for more insights .
GOLD SHORT TO $2,540 (1H UPDATE)Since I posted the update yesterday, Gold is down 420 PIPS since!😍 Amazing completion of Gold Wave 5, now which'll be followed by a much needed downside correction!
XAUUSD RETEST before buyXAUUSD is going for a retest at the broken structure which it was failing to break out ...After it will touch the yellow zone we expect a push up in price as we even approach the NFP news release
Gold Futures Near the 2,800 USD MarkGold prices reached a peak of 2,788.89 USD/oz on October 30, fueled by U.S. election uncertainties and expectations of a Fed rate cut.
Gold is surging, approaching the strong resistance level at 2,800 – a “wall” that could halt the rally and trigger a pullback.
On the other hand, support levels at 2,747 and 2,717 are ready to act as “fortresses” if prices retreat to these levels.
A smart strategy is to wait for the price to hit resistance for a potential short, or to buy at support, capitalizing on a possible rebound.
Don’t forget to set a reasonable stop-loss – in this game, a single slip could shift the entire market landscape!
I think gold is going to 2800 and maybe 3000 later!Hi Everyone!
I think CAPITALCOM:GOLD and CAPITALCOM:SILVER are both going to go higher and even more so Silver, I think it can go to the 50s over time. and 40s in the shorter term.
Physical demand for gold is still strong?“Gold is basically ignoring a stronger dollar and rising Treasury yields,” Michael Armbruster, co-founder and managing partner at Altavest). He believes that indicates , primarily from central banks that are committed to dedollarization of their reserves.”
Similarly, Oxley pointed to speculation that the continued strength in gold is a “wider paradigm shift driven by BRICs+ central banks beefing up gold reserves to reduce reliance on the U.S. dollar,” he said. BRICs refers to an intergovernmental organization that includes Brazil, Russia, India and China.
But “perhaps the most convincing argument to ‘rationalize’” gold’s latest price moves is that they’re part of a “wider ‘Trump trade’ as markets adjust to a higher probability being assigned” to a U.S presidential election win for former President Donald Trump, said Oxley.
“If you’re worried about fiscal profligacy, financial repression and attacks on independence, gold would be an attractive asset,” he said.
However, ”When Russia and Ukraine negotiate peace, as well as Hamas and Israel, and China’s economy recovers, then there will downward pressure on gold prices,” said U.S. Money Reserve’s Moy.Needless to say, the idea of peace seems a bit far fetched at this time.
Sell opportunityGold (XAU/USD) currently presents a lucrative Sell opportunity at $2753.00, with compelling potential for profit targeting.
Targets:
Primary Target: $2710.00
Breakout Scenario:
Should Gold surpass the $2770.00 threshold, indicating a Bullish breakout, the target price is forecasted to reach $2800.00.
Technical analysis suggests a strong Selling sentiment at the current price level.
Market dynamics indicate downward pressure, aligning with the proposed Sell strategy.
Risk management strategies should be implemented to mitigate potential losses in case of unexpected market shifts.
Disclaimer: This analysis is based on current market conditions and historical price movements. Traders are advised to conduct their own research and consider risk management techniques before executing any trades.
XAUUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Gold above 2775$Fibonacci says gold continues up into the $2775-$2830 zone. What do you think, does the price go up to $3000 after that?
Gold's current round of rise is "earth-shaking"! Where is the en
On Monday, spot gold once stood at $2,740/ounce, setting a new record high. However, due to the rise in the US dollar and US bond yields, it gave up all the gains in the US market, and once fell by $20 from the daily high, with the lowest price falling to around 2,715.
From the current 4-hour chart:
After touching 2,715 last night, gold rebounded again, reaching a rebound of about $20 at one point, and then returned to the high point range of 2,735-40.
From the hourly chart range, it can be seen that 2,715 is exactly the lower edge of the hourly chart trend line.
At present, it has rebounded to the support of the 2,715 trend line again, so the lower edge of the hourly chart trend line will become our primary support position.
As can be seen from the picture, the current trend support is getting higher and higher as time goes by, and it has currently reached 2725-20.
And it can be seen that the top trend line of the current hourly chart of gold has not yet been reached, so 2,740 is also unlikely to be the high point.
Therefore, the next operation can be based on 2725-20 to go long, and the upper side can be seen around 2750.
Hey dear traders if you like my idea please let me know in the comments and I will be happy
Gold Spot Sell SetupCurrently Trading At 2733 , Sell On Rise Till 2741.60 For The Target 2593--2440
Setup Will fail When We Get 2 Consecutive daily Close above 2741.60
Trading In Overbought Zone
XAUUSD /PRICES TRYING TO REACH NEW ATH / 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
The price has already achieved a profit of +340 pips, signaling a strong upward trend. The fact that this movement continued after a news release suggests that market sentiment is likely driven by external factors, such as macroeconomic events or announcements.
The demand zone between $2,720 and $2,711 is critical because it reflects a price area where buyers are likely to step in. Historically, demand zones are areas of strong buying interest, which halts a downtrend. The expectation is that, if the price stays above this zone, it may bounce back towards the ATH of $2,757. This would mark a retest of the resistance level, a crucial price ceiling.
A move beyond $2,757, extending to $2,771, would imply a breakout. In technical analysis, a breakout from an all-time high (ATH) can lead to a new price discovery phase, where prices rise with minimal historical resistance. Traders might look to capitalize on this momentum.
The break below the demand zone would indicate that buying pressure is insufficient to stop the fall, leading to a continuation of the downtrend. A potential price drop to $2,685 would signal a notable reversal in sentiment.
Gold Analysis XAU/USD – Potential Reversal Zone and Bearish Opportunity
Gold's recent price action on the 1-hour timeframe shows a key formation with multiple swing lows (highlighted in orange), suggesting potential liquidity grabs followed by a bullish retracement. However, the price is now approaching $2,748, which aligns with a significant resistance zone (purple box).
Key Levels and Analysis:
Resistance: $2,748 – This area marks a critical supply zone where selling pressure may increase.
Support Zones:
First support: $2,720
Second support: $2,710 – If the downward move continues, this is the primary target for bears.
Trade Idea:
Sell Entry: Near $2,748 if rejection confirms with bearish candlestick patterns.
Target: $2,710
Risk: A breakout above $2,748 would invalidate the bearish setup.
Risk-to-Reward:
Potential downside: -1.42% (-39 points)
If rejection occurs, we could see a move toward $2,710, offering a nice scalping or intraday trade opportunity.
