Gold Bias on short term - BullishBullish rectangle formation
Buy stop order, take profit and stop loss defined.
Trade for short term.
XAUUSD trade ideas
XAUUSD Gold trend analysis todayI know many people are waiting for my analysis today.
The next trend analysis of gold is drawn in the chart using the hourly cycle.
(1): Technical analysis of the bull market
The current key price pressure levels are in the following order:
2758-2760 range
2770 area
2778-2780 range
2790-2800 range.
All of the above are the prices we need to pay attention to when we are long. They are of great significance to the transaction and directly determine your offense and defense.
(2): Technical analysis of the bear market
We need to consider the worst possible scenario, after all, today is Friday.
The current key price support levels are in the following order:
2758-2760 range
2753 area
2736-2740 range
2710-2720 area
Near 2680
We cannot predict the unknown, but we can clearly make a reasonable trading plan based on the current situation
My deduction basically covers the essence of all technical models, which is a summary of experience and wisdom
You can clearly see the graphics I drew to learn
Reasonable division and fractal
So at present we regard 2758-2760 as an important watershed between longs and shorts
Important range for intraday trading today
Next I will continue to update and optimize the next trend. Thank you for your attention. Please support us by liking and sharing the post. And leave your views in the comment section
GOLD has conditions to increase with expectations of recoveryOn Thursday (October 31), some traders chose to take profits, causing gold prices to fall again, falling 2% and reaching a low of 2,731 USD/oz. As of the time of writing, Friday, November 1, gold has recovered to 2,746 USD/oz.
Safe-haven demand ahead of the US presidential election has pushed gold prices up for the fourth consecutive month, and gold prices have increased about 4% in the past month.
Previously, strong economic data released by the US increased market expectations that the Federal Reserve could cautiously cut interest rates in the coming months. Meanwhile, PCE data showed PCE inflation at 2.1% year-on-year, the lowest since early 2021 and slightly above the central bank's 2% target inflation rate.
Before the taper, gold prices had risen by more than a third this year due to central bank buying and safe-haven demand due to conflicts in the Middle East and Ukraine. Uncertainty about the US presidential election has also highlighted the value of gold as a safe-haven asset.
In 2024, gold's gains are driven by economic uncertainty, central bank buying and geopolitical risks, especially in the Middle East. Gold prices are now entering a historic year as expected interest rate cuts from the Federal Reserve and central bank demand will further support gold prices.
Therefore, do not worry about price drops because in terms of fundamental long-term trends, gold is still strongly supported.
During this trading day, traders need to pay attention to the US Nonfarm Payrolls (NFP) and October Unemployment Rate data.
Surveys predict 108,000 new jobs will be added, compared with 254,000 last month.
The Nonfarm payrolls measure the change in the number of people employed during the previous month, excluding agriculture. Job creation is a leading indicator of consumer spending, which accounts for the majority of economic activity.
Figures that are much higher than expected or equal to the previous period will be considered a positive signal for the USD and continue to add pressure to the gold downtrend. Meanwhile, data at or below is expected to support gold's return to the bullish cycle and the continuation of its long-term uptrend, ending the ongoing bearish correction.
Analysis of technical prospects for OANDA:XAUUSD
On the daily chart, yesterday's correction caused gold to swing below the short-term rising price channel noted by the price channel on the chart.
However, gold is also approaching a notable support level sent to readers in yesterday's edition at $2,725 when gold has the conditions for a correction.
Although the price dropped significantly, the mid- and long-term trend is still bullish with specific conditions such as stable price activity in the price channel, stable activity above the EMA21 level.
During the day, if gold can hold above the 0.236% Fibonacci level, it will have the potential to increase further with a short-term target of about 2,768USD, the price point is the confluence of the lower edge of the channel © and the 0.382% Fibonacci level.
The expectation for the intraday trend is a recovery with a target level of around 2,768 USD, along with which notable price points will be listed as follows.
Support: 2,745 – 2,725USD
Resistance: 2,768USD
SELL XAUUSD PRICE 2765 - 2763⚡️
↠↠ Stoploss 2769
→Take Profit 1 2758
↨
→Take Profit 2 2753
BUY XAUUSD PRICE 2714 - 2716⚡️
↠↠ Stoploss 2710
→Take Profit 1 2721
↨
→Take Profit 2 2726
Gold:$2700 in Sight Amid Falling Interest Rates & Rising TensionHey Realistic Traders, let’s dive into the analysis of OANDA:XAUUSD
In the H4 timeframe, gold has touched the bullish trendline three times before continuing its upward trajectory. This consistent support underscores the strength of the bullish trend. Recently, the price formed a descending broadening wedge pattern followed by a breakout, signaling further bullish potential.
Over the past few days, gold has held strong above the upper trendline, increasing the likelihood of sustained bullish momentum. Additionally, the MACD has made a bullish crossover, indicating upward momentum. With these technical indicators aligning, we could see an exciting continuation of this upward movement toward Target Area 1 at $2,708, or even reaching Target Area 2 at $2,766. However, traders should watch the stop-loss level at $2,614 closely. A break below this level could give bears a chance to take control. Stay tuned and be ready to capitalize on these movements!
Fundamental factors support the bullish trend in gold prices. Global central banks are cutting interest rates to boost their economies, leading to weaker currencies compared to gold. Additionally, geopolitical tensions are escalating, exemplified by the unprecedented Israeli attacks on Lebanon and the killing of Hezbollah’s leader on September 27, which may provoke retaliation. This global uncertainty is driving investors to seek safe-haven assets, particularly gold.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Gold. "
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Buy Gold Scalping ideaI am buying gold as we're hitting a support resistance (drawn following the 1h and 30min timeframes).
Price action seems to show that price is reversing, it might go back for the next 30 min candles.
I am placing a limit buy order on the second support zone.
I have used price action, bollinger bands, and support and resistance for this trade.
Today best levels for gold
Gold chart: Focus on these key zones today."
- Support: $ to $
- Resistance: $ to $
Today's gold chart analysis highlights:
Today market open with gap on resistance level so maybe gold fill the gap and drop again from the resistance level Check price action on that level if break that's level then wait for second resistance level , check price action for buying on support level that mentioned and for more updates join our website blow
XAU/USD 28 October - 01 November 2024 Weekly AnalysisWeekly Analysis:
Swing Structure: Bullish.
Internal Structure: Bullish.
Price has continued its surge, reaching new all-time highs with no signs yet of bearish pullback phase initiation.
The initial indication of a pullback would be a bearish Change of Character (CHoCH), marked by a blue dotted line. Price's ongoing ascent has now positioned CHoCH significantly closer to most recent price action.
Weekly Chart:
Daily Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has sustained its upward surge since printing a bullish Internal Break of Structure (iBOS), driven by softer U.S. macroeconomic data and heightened geopolitical tensions.
Following bullish iBOS, a bearish pullback is anticipated, though there are currently no signs of it materialising. The first indication, though not a confirmation, of a potential pullback would be price printing a bearish Change of Character (CHoCH), which is marked by a blue dotted line.
Price could potentially achieve new highs, bringing the bearish CHoCH positioning significantly closer to current price action. This proximity would provide a realistic opportunity for price to signal the initiation of a bearish pullback phase.
Daily Chart:
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Gold’s rally persists amid the Fed’s dovish tone and heightened geopolitical tensions, solidifying its safe-haven appeal.
Price has printed a bearish Change of Character (CHoCH), signaling—but not yet confirming—the start of a bearish pullback phase.
Intraday Expectation: Despite the bearish CHoCH, price has yet to pull back into the internal 50% EQ discount. We could see a reaction at the H4 supply level before any confirmation of bearish pullback initiation.
Technical Note: The strong high at 2,758.525 is anticipated to remain protected. However, with CHoCH positioning on the daily timeframe somewhat distant, price may print a bullish iBOS in the near term to align with the daily timeframe’s movement.
H4 Chart:
GOLDgold analysis
Time frame 4 hours
Support and resistance areas are clearly visible on the chart.
If we see the confirmation within 15 minutes, we can look for a selling position
Gold Long Plan, 2800 New ATH?Gold Price Delivered as we predict, I am Looking Two Level For Longs, So If you are following then follow with Risk Management.
XAUUSD Sell SetupIf 15 min candle closes below 2785 than Sell with
Tp1 @ 2782.50
Tp2 @ 2780.50
Tp3 @ 2775.50
Sl 2782.50
Gold price analysis October 30Fundamental Analysis
Gold prices rose to a fresh record high in Asian trade on Wednesday as uncertainties surrounding the US presidential election and Middle East conflicts continued to boost demand for traditional safe-haven assets. Additionally, a slight decline in US Treasury yields and weak US Dollar (USD) price action benefited the precious metal. The supportive factors, to a large extent, overshadowed the bullish market sentiment, which tends to weaken the commodity.
Even expectations of fewer rate cuts by the Federal Reserve (Fed) and higher US Treasury yields could not mask the underlying bullish sentiment surrounding non-yielding Gold. However, it remains to be seen whether buyers can build on the upside momentum amid mildly overbought conditions on the daily chart and ahead of key US macro releases. The data could provide signals on the Fed's interest rate outlook and determine the next step in the directional move for XAU/USD.
Technical Analysis
Gold is at an all-time high with expectations of retests to continue buying in line with the trend. The first areas of interest are the breakout zone at 2770, the next around 2761 and the last area of interest around 2745. These are the 3 important support areas with the aim of reaching the 2800 round port. Only consider scalping in the psychological price zones of 2785 -2790-2800.
Gold Cup & Handle --> still room to goThere are several ways to approach trading the cup and handle, but the most basic is to look for entering a long position. The image below depicts a classic cup and handle formation. Place a stop buy order slightly above the upper trend line of the handle. Order execution should only occur if the price breaks the pattern’s resistance. Traders may experience excess slippage and enter a false breakout using an aggressive entry.
--- in % terms we would have upside
--- in absolute terms $-Value we are at the top
“Gold’s Next Big Move: Key Price Levels in Focus”Gold (XAUUSD) has been in an upward trend, with key indicators suggesting it may either continue rising or face a pullback soon. This analysis highlights crucial Fibonacci levels, resistance zones, a parabolic curve supporting the bullish trend, and a potential ABCD reversal pattern. Monitoring these levels can help traders identify opportunities for buying or selling as gold approaches critical price points.
Key Price Levels to Watch
Primary Resistance: $2,778.68 – Major resistance level, could act as a ceiling for price movements.
Potential Reversal Zone (ABCD Pattern): $2,830–$2,880, with an upper margin up to $2,898.
Next Major Resistance (if breakout occurs): $3,163.70
Upper Target Levels: $3,342.93 and $3,737.90 for extended bullish continuation.
Fibonacci Support Levels (for a possible pullback):
0.236 Level: $2,523.41
0.382 Level: $2,354.63
Trading Scenarios
Bullish Continuation: Watch for a breakout above $2,778.68, with potential to reach $3,163.70 and beyond if the bullish trend continues.
Bearish Reversal: If resistance holds in the $2,830–$2,880 range, a pullback to Fibonacci support at $2,523.41 or $2,354.63 may be likely.
Takeaway
Gold is nearing a critical resistance range, and traders should monitor for either a breakout or reversal, using the 3-5% margin for flexibility around key levels.
Disclaimer: This is not financial advice. Conduct your own research and consult a financial advisor before trading.
GOLD Running in Range areaA time before this move, I predicted that gold would be running in a range area, and at that time it was hitting the resistance area, now that resistance has rejected the price.
Today best levels for gold Gold chart: Focus on these key zones today, ⁃ Support: $ to $ ⁃ Resistance: $ to $ Today's gold chart analysis highlights Today market open with gap on resistance level so maybe gold fill the gap and drop again from the resistance level Check price action on that level if break that's level then wait for second resistance level , check price action for buying on support level that mentioned and for more updates join our website
Blow
rising wedggetarget achieving soon On this october 16 th the price is near 2630,then its high and without any reason its going to break all time high
Then after its tests 2791 near 2800
now the market showing insignificance so it may bounce back to minumum that level of 2630
GOLD_109 2024.10.31 16:14:04 Trading Signal BUYFrankPro Signal for GOLD_109
Type: Screen
Signal: BUY
TP: 2799.91
SL: 2718.36
Entry Price: 2741.66
Analysis for GOLD
Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Strong Up
Forecast Methods(Short-Term, Long-Term):
ST=Down LT=Up
ST=Up LT=Up
ST=Down LT=Up
Analysis Method(0)
Based on the provided analysis, I will provide separate short-term and long-term forecasts for the price of XAUUSD (Gold).
**Short-term Forecast (next few days to a week)**
* The double-top formation at $2,790 may limit further gains for gold, indicating a potential pullback.
* Technical indicators such as RSI, MACD, and ADX suggest a buy signal, but the STOCHRSI and Williams %R indicate overbought conditions, which may lead to a correction.
* Upcoming election uncertainty and geopolitical factors could influence gold prices in the near term, potentially causing volatility.
* Support levels at $2,718.33 and $2,716.94 may be tested if the price pulls back.
**Expected Price Movement:** Down ( potential pullback to test support levels)
**Long-term Forecast (next few weeks to months)**
* Despite potential short-term pullbacks, the overall market sentiment remains bullish, with traders expecting gold to continue its upward trend.
* A stronger EUR/USD is bullish for gold, and the metal's rebound in response to market sentiments suggests a positive long-term outlook.
* The potential impact of a new BRICS currency on gold prices is still being discussed, but it may not have a significant effect on the price in the long term.
**Expected Price Movement:** Up ( continuation of the long-term upward trend)
Please note that these forecasts are based on the provided analysis and are subject to change as new information becomes available.
Result: ST=Down LT=Up
Analysis Method(1)
Based on the analysis of the provided data, here is my assessment of the expected price movement of XAUUSD (Gold vs. US Dollar) for October 31, 2024:
**Short-term Analysis (next 10 days)**
* The technical analysis suggests a bullish sentiment, with the price above both the 50-day and 200-day simple moving averages.
* The 14-day RSI is at 61.21, indicating neutral conditions but with a general bullish outlook.
* The forecast predicts a potential rise in price to around $2,737.47 in the next 10 days.
* Positive drivers, such as a stronger EUR/USD and the overall inflation rate in the United States, support the bullish sentiment.
**Expected Price Movement (Short-term): UP**
**Long-term Analysis**
* The overall trend and sentiment suggest a bullish outlook for gold, with traders remaining bullish despite various influencing factors.
* The resilience of gold prices in the face of election uncertainty and economic data releases indicates a strong underlying demand.
* However, potential increases in U.S. interest rates and a weak U.S. consumer discretionary sector could impact gold prices negatively in the long term.
**Expected Price Movement (Long-term): UP, but with potential volatility and pullbacks**
In summary, based on the analysis, I expect the price of XAUUSD to go up in the short term, with a potential rise to around $2,737.47 in the next 10 days. In the long term, I also expect the price to go up, but with potential volatility and pullbacks due to various market drivers and influencing factors.
Result: ST=Up LT=Up
Analysis Method(2)
Based on the provided analysis, here is my assessment of the expected price movement for XAU/USD (gold) in both the short-term and long-term:
**Short-term (next few days to a week):**
* Expected price movement: Down
* Reasoning: The technical indicators suggest a strong buy signal, but the Stochastic RSI and Williams %R indicate that the market is overbought. This suggests that a bearish price correction is likely in the short-term to test the support levels near $2,715.82, $2,716.94, and $2,718.33.
* Potential price target: $2,715-$2,720
**Long-term (next few weeks to months):**
* Expected price movement: Up
* Reasoning: Despite the expected short-term correction, the overall sentiment is bullish, and the technical indicators (RSI, Stochastic Oscillator, and MACD) suggest a strong buy signal. Additionally, a stronger EUR/USD is seen as bullish for gold, which could support a long-term uptrend.
* Potential price target: $2,850-$2,900
Please note that these predictions are based on the provided analysis and are subject to change as new data becomes available. It's always important to monitor market conditions and adjust trading strategies accordingly.
Result: ST=Down LT=Up
intraday call in XAUUSD....wait below tgt1 in next few hours....intraday call in XAUUSD....
wait below TGT1 XAUUSD....in next few hours....
Sell XAUUSD 2789.89 range to 2770 2760 2740 in next few hours....
Xau / Usd ShortLong Trend Is still Bullish .but in short term on technical basis Short is comming because 3/4 Touch on the top trend and also resistance from 2770-2780. I think from this point seller will be active .
Supply Sweep Towards $2743Gold is positioned to make a supply sweep as it approaches the $2750 level, with potential downward moves to the $2743-$2738 range to secure demand. This demand zone could support a bullish move back above the $2750 mark, indicating strong momentum in the current trend.
H1 (H4) - Probable Next Move. {10}Trade Reason:
1. H1 Order Block,
2. D1 Regular Divergence.
3. H1 Long Time Menupulation.
Hello Friends!
I hope it will touch the "2748.444" level then it can make some corrections. After her correction, it has more chances to touch the "2729.351" level. But if it create counter setup, then close it instant.
Do you have any questions, suggestions, or feedback? Then write a comment or private chat. If you need any help, info, or analysis. Then knock me without any hesitation.
…Thank you…
