Get started
Gold Spot / U.S. DollarGold Spot / U.S. DollarGold Spot / U.S. Dollar

Gold Spot / U.S. Dollar

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals

XAUUSD trade ideas

Gold (XAU/USD) Analysis: Potential Reversal to $2,800.Gold (XAU/USD) Analysis: Potential Reversal to $2,800 with Long-Term Target of $3,000 In the chart for XAU/USD (Gold), we are observing a solid bullish rally, but a potential retracement may provide an entry opportunity. Here's a breakdown of the analysis and trade idea: Current Market Structure: 1. Support and Resistance Levels: -Immediate Support: Gold is approaching a key area of interest around $2,685, which aligns with previous price reactions and a likely zone for a bullish reversal. -Resistance: The major resistance lies at the psychological level of $2,800. A breach of this level would signal the continuation of the uptrend. Currently, the market is experiencing a slight pullback after a strong move to the upside. I anticipate that the price may dip further into the $2,685 - $2,690 range, which will act as a key zone to watch for bullish entries. Projection & Long-Term Target: +Bullish Target: After the anticipated bounce from the $2,685 level, the immediate target will be $2,800. This level is crucial for determining the continuation of the bullish momentum. Breaking above this could lead to a much larger extension up to $3,000, which is the long-term target for next year, potentially by the middle of 2025. Risk Management: A stop-loss should be placed below $2,665 to protect against a deeper correction. This setup offers a strong risk-reward opportunity, with the long-term potential of hitting $3,000. Summary for the Trading Community: chat.whatsapp.com I’m expecting a pullback on Gold (XAU/USD) to the $2,685 area before a bullish reversal towards $2,800. This level is a significant resistance point, and a breakout above it would signal a strong continuation up to $3,000 next year. This setup provides an excellent long-term opportunity for those looking to position for a potential bullish run into 2025. EDDY C | SWING TRADER
OANDA:XAUUSDLong
by eddychuksuniversity
XAUUSD: Exiting the uptrend channel !Latest gold price forecast today October 24, 2024: Gold information: World gold prices fell sharply today due to pressure from the increase in the USD and US Treasury bond yields. Specifically, the US Dollar Index increased by 0.3% to nearly a 3-month high, which put pressure on gold prices. US bond yields also increased to a 3-month high, increasing the opportunity cost of holding gold. Although gold prices have decreased, experts are still optimistic because the uncertainties related to the US election along with the increasing debt burden in this country are also making investors worried and looking to gold as a safe haven for cash flow. Conclusion: This has caused gold to continuously conquer records and has increased by more than 31% this year. With this momentum, gold is one of the best investment channels in 2024. Ben's personal comment: On most timeframes, gold price is still well supported, creating a good recovery momentum from the support level of 2408 and now 2723 dollars. The recovery is likely to continue in the coming time with targets of 2733 - 2739 respectively, before any further correction in the main trend. Gold setup: Buy entry: 2721 - 2717 SL: 2713 TP: 2733 - 2739 Sell entry: 2733 - 2735 - 2737 - 2739 SL: 2743 TP: 2714 - 2708
OANDA:XAUUSDShort
by Bentradegold
4
Understanding Bullish Engulfing Candlestick PatternThe Bullish Engulfing Candlestick Pattern is a popular price action signal used by traders to identify potential trend reversals in the market. If you're keen on mastering price action trading, understanding this pattern is essential. This guide will take you from the basics of the pattern to advanced insights, with easy-to-understand explanations to help you become more confident in your trading decisions. What is a Bullish Engulfing Candlestick? A bullish engulfing candlestick is a two-candle pattern that signals a potential reversal in a bearish trend. The pattern consists of a smaller bearish (red) candle followed by a larger bullish (green) candle that completely engulfs the previous one. This indicates that the buying pressure has overwhelmed the sellers, suggesting a shift from a downtrend to an uptrend. Key Features of the Bullish Engulfing Pattern Here’s a breakdown of the key characteristics: Number of Candles: The pattern consists of two candles. First Candle: A bearish candle, typically red, showing a decline in price. Second Candle: A bullish candle, typically green, that completely engulfs the previous bearish candle, including its wicks. Prior Trend: A bearish trend must precede the pattern to validate it as a potential reversal signal. Prediction: A potential shift from bearish to bullish trend. The Anatomy of a Bullish Engulfing Pattern To fully grasp this pattern, let's break down the structure: The first candle in the pattern is a small bearish candle, indicating the continuation of a downtrend. The second candle is a large bullish candle that opens lower than the previous close and closes higher than the previous high, completely engulfing it. This suggests a strong buying momentum. Why Do Bullish Engulfing Patterns Work? A bullish engulfing pattern is significant because it reflects a shift in market sentiment. Here’s why: Seller Exhaustion: The first candle shows a bearish trend, indicating seller dominance. When the second candle engulfs it, it suggests that sellers are losing control. Buyer Strength: The second candle’s larger body signals strong buying interest, indicating a shift in market control from sellers to buyers. Market Psychology: A bullish engulfing pattern indicates that traders are willing to buy at higher prices, leading to increased bullish momentum. Why a Pin Bar Can Be an Engulfing Pattern A common observation among experienced traders is that a pin bar on a higher timeframe can appear as a bullish engulfing pattern on a lower timeframe. This happens because: A pin bar shows a strong rejection of lower prices, which on a lower timeframe looks like a large bullish candle engulfing smaller bearish candles. This highlights the importance of multi-timeframe analysis. Understanding how patterns form on different timeframes gives a more holistic view of market dynamics.
CAPITALCOM:GOLDEducation
by ForexBee
Gold Price Hits New All-Time High Near $2,757 - Have a Look NextGold has once again proven its status as the ultimate safe-haven asset, recently reaching an all-time high just shy of the $2,757 mark. This surge comes amid rising geopolitical tensions and increasing expectations for further rate cuts by the US Federal Reserve. Despite a rise in US Treasury yields, the yellow metal's upward momentum remains strong as investors flock to it during times of uncertainty, highlighting its enduring appeal as a store of value. Factors Behind Gold’s Historic Surge 1. Geopolitical Tensions Global geopolitical risks have escalated recently, leading to a rush toward safe-haven assets like gold. Heightened conflicts in the Middle East and lingering tensions in Eastern Europe have fueled fears of broader market instability. Gold, historically seen as a hedge against geopolitical uncertainty, has been one of the primary beneficiaries as investors seek to protect their portfolios. 2. Expectations of Further Fed Rate Cuts Market sentiment is increasingly tilting toward additional rate cuts by the Federal Reserve. The anticipation of lower interest rates typically supports gold prices, as lower rates reduce the opportunity cost of holding non-yielding assets like gold. With economic data pointing to slower growth and possible deflationary pressures, the Fed may be inclined to continue its dovish stance, further boosting gold’s appeal. 3. US Treasury Yields and Safe-Haven Demand Even as US Treasury yields have risen, signaling expectations of a stronger US economy, gold's ascent has not been hindered. This decoupling suggests that other factors, like risk aversion and safe-haven demand, are currently driving the metal’s price. Growing fears of a potential Trump presidency in 2024 have added an extra layer of uncertainty, prompting investors to seek the stability that gold provides. Technical Analysis: Is a Retracement on the Horizon? From a technical standpoint, the recent surge in gold prices suggests that the metal may be poised for a near-term pullback. Here’s why: Commitment of Traders (COT) Report Analysis: According to the latest COT report, retail traders remain heavily bullish on gold, a potential contrarian indicator that often precedes a short-term price reversal. Meanwhile, the so-called "smart money" appears to be scaling back on long positions, suggesting a potential shift in sentiment. Seasonal Forecast: Seasonality patterns indicate that gold might be approaching a reversal phase. Historically, gold has shown a tendency to retrace after significant rallies, especially when retail sentiment becomes overly bullish. This seasonal forecast aligns with technical signals that suggest a possible correction. Potential Retracement Levels: If gold begins to retrace from current levels, key support zones to watch would include $2,700 and $2,650, where previous resistance levels could now act as support. Traders should keep a tight stop-loss to protect against potential downside risks, especially given the ongoing volatility in global markets. Trading Strategy: Cautious Optimism with a Tight Stop-Loss While the long-term outlook for gold remains bullish due to ongoing geopolitical uncertainties and monetary easing expectations, short-term traders should exercise caution. With the potential for a near-term pullback, the ideal strategy may involve waiting for a retracement to key support levels before considering new long positions. Risk Management: Given the current elevated price levels, it’s crucial to maintain a tight stop-loss to manage potential downside risk. Potential Reentry: If a retracement occurs, investors could look for signs of stabilization around the $2,650–$2,700 range before reentering the market. Final Thoughts: A Bullish Long-Term Outlook with Short-Term Caution Gold’s recent surge to near $2,750 highlights its role as a global safe haven amidst uncertainty. However, with retail sentiment leaning heavily bullish and the possibility of a technical correction looming, traders should remain cautious in the short term. Despite the potential for a pullback, gold’s long-term fundamentals remain intact, driven by geopolitical risks, monetary policy expectations, and overall global economic uncertainty. As always, a balanced approach, considering both the fundamental and technical factors, will be essential to navigating the evolving landscape of gold trading. ✅ Please share your thoughts about GOLD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
OANDA:XAUUSDShort
by FOREXN1
1
GOLD H & S HARMONIC PATTERN TIME TO RETRACE HELLO TRADERS As i can see gold had created ATH HIGH 2756$ AS WE ANALYSIS in previous chart successfully hit all given targets chart is attached in comments now we can see gold is rejecting for last ATH and had created now a harmonic pattern H & S its a great opportunity to join the rally till design levels technically its also over bought RSI on weekly chart all time high now above 80 its an some geopolitical talks on going for ceasefire in GAZA and Lebonan Friends its a trade idea with proper risk management make a proper analysis brfore taking any trade ... Stay Tuned for more updates
OANDA:XAUUSDShort
by APEX_TRADING_ACADMEY
BULLISH GOLD AHEAD In the coming days we are monitoring GOLD for a big bullish run towards 2800 and ultimately 2916 level. Gold is currently expected to sweep the liquidity at 2700/2690 level before this move up. Its should also be noted that USA elections are coming up on 5th Nov hence a lot of volatility expected which will include a big drop on US DOLLAR. For the experienced traders happy hunting, for the new traders stay within reasonable risk. Use proper risk management. Best of luck to you all. GWG
ICMARKETS:XAUUSDLong
by GeminiWealthGroup
XAUUSD Rejection of Major Into Minor. Coach Amilia and I are currently analyzing the markets for potential trades to send the group. Coming across the above pair we're looking for the market to reject the major resistance area pushing back into the minor resistance spot. If the market stays with the green lines we're going to look for them to touch the top or bottom for our entry points, we're looking for 3 candle rejections on 5-15 minutes before continuing on any buy. We're looking for the market to push back down if it doesn't break this area or break and renter, if we see it break previous highs we're looking for it to go past our moon landing area. If the market goes past our moon area then we know it's going to continue upwards towards the HH location area and that will ensure we go long term, but if you want to go long term on the trade then you have to make sure to get in on the lower highs. if you do not follow the above, you will go into drawdown and that's never fun for anyone. The Candles will range between 50 and 100 upwards so it won't be an instant engulf. The markets are the markets nothing is guaranteed, your best trader wins 40-70% of the time. Charters: Coach Amilia #JohnWickCharts
FXOPEN:XAUUSDLong
by GQJOHNWICKCHARTS