XAUUSD trade ideas
GOLD - OPPORTUNITY AGAINTeam, almost 4-5 hours ago, we short GOLD all target been met
we are now have another opportunity to short gold at 2748-2749, with stop loss at 2755-57
target at 2745
Target at 2742
Target at 2738
Once the gold drop below 2745, bring stop loss to BE.
Gold's New ATH Will Come SoonWe have observed in a chart some uptrend moves with Break Of Structures after the consolidation momentum in D1 Chart
Fair value gape was their in a last BOS. market has reversed from 2740 to form it's new BOS and also to retest the fair value gape
Put Sell Entries UpTo 2690 then go for buy with a long hold UpTo 2760
XAUUSD H1 |Bearish Reversal Based on the H1 chart analysis, we can see that the price is rising toward our sell entry at 2743.79, which is a pullback resistance.
Our take profit will be at 2731.29 an overlap support that aligns with 50% Fibonacci retracement
The stop loss will be at 2752, above recent high
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Gold XAUUSD trading trend analysis on October 21, 2024At the end of last week's trading session, gold prices continued to increase strongly. Gold prices have created a new ATH after a correction to 260x. We will now trade according to the main trend. Wait for the next adjustment of gold to enter a long-term order.
Today's trading trend: BUY scalp.
Price zones to pay attention to:
BUY zone: 2703 - 2708
SELL zone: 2735 - 2740 and 2745
Wishing you a profitable and safe trading week.
Gold is about to end wave 3 and begin a 4th wave correctionI've been publishing the beautiful elliott wave structure of gold. It has nicely followed all the expectations. Wave 4 correction will begin shortly.
Gold Intraday Trading Plan 10/23/2024Gold has fooled me yesterday. Although a pin bar was formed on Monday, it quickly wiped out the sellers yesterday and broke previous highs.
In such cases, normally a strong bullish momentum is formed and upward trend continues.
I will utilize this bullish trend again and look for buying opportunity around 2737 level.
1st target will be 2767
XAU/USD - Daily AnalysisSince breaking out of its daily correction, Gold has been super strong with price now hitting the -27% Fib extension level. Any corrections could be opportunities to buy with a view to price heading towards the -61.8% Fib extension level. Will it finally reverse there?
Gold, Bitcoin Poised for US Election Gains? On November 5, approximately 250 million Americans are expected to vote in the presidential election.
The outcome, though, may not be immediately clear. The official result could take anywhere from a few hours to several weeks, depending on the margin of victory and potential legal disputes.
UBS analysts caution that the election's outcome may not be known until December 11, the deadline for states to certify their electoral college votes. They add that recounts and legal challenges—particularly from the Trump campaign—could push the timeline even further.
Traders should account for the risks and costs of a prolonged wait. Key assets like U.S. dollar pairs, Bitcoin, and gold could be the most sensitive during this time. Interestingly, billionaire hedge fund manager Paul Tudor Jones is betting heavily on gold and Bitcoin. He expects inflation to persist regardless of who wins the 2024 U.S. presidential election.
After Record Highs, Is Gold Primed for a Short-Term Correction?Since Tuesday, after OANDA:XAUUSD completed a brief correction following the previous week’s rally, the price has surged approximately 1000 pips from its low to high.
During the Asian session last night, Gold hit yet another all-time high, though it’s now experiencing a minor pullback.
While the overall trend remains strongly bullish, a correction from this level is not out of the question.
The price could potentially retest the support zone formed by the previous all-time high around 2685-2690.
A confirmation of this correction would come if the price clears Friday’s close, and in that case, the recent ATH could act as short-term resistance.
Aggressive traders may look to take advantage of this correction, while swing traders might prefer to wait for the correction to complete and then rejoin the dominant uptrend at more favorable prices.
GOLD is fully supported with a low data trading weekDue to escalating tensions in the Middle East, uncertainty about the US election and expectations of looser monetary policy, OANDA:XAUUSD surged up and created new all-time record highs.
The market will still focus on increasing geopolitical tensions after Israel announced the killing of Hamas leader Yahya Sinwar. Sinwar was the mastermind of the Hamas attack on southern Israel that sparked the year-long Gaza war.
Prime Minister Benjamin Netanyahu said Israel will continue to fight until all hostages captured by Hamas last year are released, while US President Joe Biden said it is time for the war to end.
During times of geopolitical and economic instability, investors often turn to gold as a safe haven asset. Rising geopolitical tensions in the Middle East have prompted investors to seek safe-haven assets such as gold, due to risk aversion and concerns about instability in global markets.
On the monetary policy front, the European Central Bank could cut interest rates again in December. According to CME Group's FedWatch Tool, traders also see a 90.4% chance of a Fed rate cut. interest rate in November. Since gold does not yield interest, a rate cut could reduce the opportunity cost of investing in gold and increase its appeal.
This week, the People's Bank of China will announce its decision on interest rates. In September this year, the People's Bank of China kept the one-year prime lending rate (LPR) and five-year LPR unchanged at 3.35% and 3.85%, respectively. The larger LPR cut should be seen as an impetus to push gold prices even higher early next week.
S&P Global will release the preliminary value of the US Purchasing Managers' Index (PMI) for October next Thursday. If the PMI unexpectedly falls below 50, indicating a contraction in private sector business activity, the short-term reaction could pressure the dollar and push up gold prices. On the other hand, a positive surprise could support the dollar.
The market reaction to the PMI data was not large enough to have a lasting impact on gold prices.
In general, this week will be a week with quite a bit of economic data, but with the current basic picture, gold will still be focused on due to escalating geopolitical developments. Readers also need to pay attention. add other threats of conflict from China - Taiwan, North Korea - South Korea,... in addition to the Middle East region, which already has too many potential risks.
Economic data to watch out for this week
Monday: IMF meeting begins
Tuesday: BRICS summit begins in Russia
Wednesday: Bank of Canada monetary policy meeting, US existing home sales
Thursday: Weekly unemployment claims; S&P Global Manufacturing and Services PMI Survey; US new home sales
Friday: US durable goods orders
Analysis of technical prospects for OANDA:XAUUSD
As we have sent to readers throughout the publications, the gold price still has an overall bullish technical structure on the daily chart. Currently, gold closed above the 0.786% Fibonacci extension level and this is necessary for it to continue towards the next target of about 2,741 USD price point of the 1% Fibonacci level.
With the trend from the price channel in the short, medium and long term, gold is in an upward trend, combined with a strong upward momentum when the Relative Strength Index (RSI) points up with a significant slope. There is no sign of a break from the overbought level, a signal that the bullish momentum continues ahead.
However, the level of 2,741USD is also the closest current resistance for expectations of a short-term correction because it is also the confluence position of the edge on the price channel with the 1% Fibonacci extension level, correction price drops. Corrections are not considered trends, they only have a short-term impact.
Finally, the main technical outlook for gold prices is bullish, the notable points will be listed again as follows.
Support: 2,711 – 2,700 – 2,688USD
Resistance: 2,741USD
SELL XAUUSD PRICE 2741 - 2739⚡️
↠↠ Stoploss 2745
→Take Profit 1 2634
↨
→Take Profit 2 2629
BUY XAUUSD PRICE 2699 - 2701⚡️
↠↠ Stoploss 2695
→Take Profit 1 2706
↨
→Take Profit 2 2711
Gold intraday operation suggestionsDear traders, you need to be cautious when trading, and set SL and TP for every transaction. This will better protect your account from being trapped. I will continue to update the gold trading strategy.
Last night, the price of gold fell and only reached the 2604 line. This is the second time that it has touched the 2604 line and rebounded again, indicating that the support effect of 2604 is obvious. After the decline last night, gold has entered the stage of rebound correction. We short-term operations followed closely and went long. In the short term, the price of gold will further test the stabilization strength of the 2600 integer mark. If it does not break the support below, it still needs to rebound. Today, the upper resistance will focus on yesterday's opening price around 2625-30, the lower support will focus on the 2600 integer mark, and the short-term gold price long and short strength line is 2630. Gold operation strategy:
1. Go short on the rebound at 2630-35, stop loss at 2643, and target 2605-2608.
2. Gold falls back to the 2600-2605 line and does not break it. Go long, stop loss 2596, target 2625-30 line.
Gold's ATH is still aboveThe analysis that we did last week is still working here. So, we will go with the same strategy on Monday
Instrument:
Time Frame: D1 Chart
Observations:
1. Identified strong Resistance and Support zones within a parallel channel flow.
2. Trend has consistently respected Resistance Zone 3 and Support Zone 4 times with instances of reversal.
4. Price reversed to Bullish last week upon hitting the support zone 2600_2605
5. Current price action shows respect for the Resistance zone that is lying in the zone 2642_2648.
6. As we are observing EMAS also indicates up trend but for short period of time
Trading Strategy:
Sell enter zone: 2742 - 2748
SL: 2755
TP: 2708 - 2702
XAUUSD SELL ANALYSIS RISING WEDGE PATTERNHere on Xauusd price form a rising wedge pattern and now try to fall so there is a probability for doing that if line 2740.58 break and trader should look for SHORT with expected profit target of 2716.11 and 2684.39 . Use money management
Gold Long Opportunity: Descending Channel Breakout on H4I'm currently observing a bullish opportunity on gold with a descending channel formation on the H4 chart. A breakout above the channel could signal a strong reversal, providing a potential long entry.
Trade Setup:
Timeframe: H4
Entry: On a confirmed breakout above the descending channel
Targets:
First target at the 127.2% Fibonacci level (2707)
Second target at the 161.8% Fibonacci level (2735)
Stop-loss: Just below the breakout point or at recent swing lows, adjusted for volatility
Stay alert for a confirmed breakout as price action could trigger a sharp upward move toward the Fibonacci targets.
SELL GOLDIn todays session we are monitoring GOLD for a selling opportunity. Our stops are above 2740 and targets at 2702 and lower. Use proper risk management.
