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XAUUSD trade ideas

Declines Ahead of U.S. Presidential ElectionOn the global market, spot gold prices edged down by 1.8 USD, settling at 2,736.9 USD/ounce, while gold futures also recorded a decline, reaching 2,745.9 USD/ounce. Investors are currently focused on upcoming key events, such as the U.S. presidential election and the Federal Reserve's interest rate decision. From a technical analysis perspective, the resistance level at 2,747 USD is posing a challenge for gold in the short term, preventing prices from maintaining an upward momentum and exerting pressure for a potential downward correction. Although support at 2,734 USD is helping to prevent a deeper decline, the recovery of gold's upward trend remains difficult. Overall, the gold market is currently driven by short-term technical factors, while macroeconomic events such as the Fed's decision and the U.S. presidential election will play a crucial role in determining the long-term trend of gold prices. Investors will need to closely monitor support and resistance levels, while also keeping an eye on macroeconomic factors to make informed investment decisions.
OANDA:XAUUSD
by Alisa_Rokosz
Gold prices continue to rise from $2750What do you think about gold today? Let's discuss and strategize for the day! Gold (XAUUSD) fell significantly yesterday, with prices falling below $2,780 and now hovering around $2,750 — marking its best recovery since mid-October. So, what's driving the metal? Key drivers: Gold's uptrend is supported by fundamentals, especially the possibility of the Fed pausing rate hikes if inflation continues to slow. Additionally, geopolitical tensions and a weaker US dollar are boosting gold's appeal as a safe-haven asset. XAUUSD's new outlook: If gold holds within its current rising channel and breaks above the key resistance level of $2,790, we could see gold prices reach new highs, heading towards $2,820 or higher. Short-term levels to watch: Major support: $2,740 - $2,750 Major resistance: $2,780 - $2,790, with the next target at $2,820 - $2,830
OANDA:XAUUSDLong
by AmbaniFX
The USD strengthens, and gold continues to declineThis decline is occurring due to profit-taking pressure from investors, many of whom are seizing the opportunity to sell as prices peak. Experts believe that the movements in gold prices are being influenced by the upcoming U.S. elections and the Federal Reserve's interest rate decisions. This week, market sentiment will be shaped by these events, along with data on service sector activity, weekly unemployment claims, and consumer sentiment reports. Additionally, gold prices are also affected by the USD reaching a three-month high, fueled by strong signals from the U.S. economy and the potential re-election of Trump. Today, gold is fluctuating around 2,741 USD/ounce. Currently, the EMA 34.89 has reversed, indicating that gold is in a downward trend. The resistance level at 2,756 will pose a significant challenge for gold at this time. Forecasts suggest that gold prices could drop to the support level of 2,731, with the possibility of breaking through this level and falling further. Will gold reverse and increase again this week?
OANDA:XAUUSD
by Alisa_Rokosz
Gold after U.S. election : Since rising tensions have played a significant role in the recent increase in gold prices, let’s look at each U.S. presidential candidate’s approach to handling these tensions and their future plans. Kamala Harris, representing the Democratic Party, is focused on diplomatic efforts to reduce conflicts in the Middle East. She generally follows the Biden administration's approach, aiming to ease hostilities through aid and international agreements, including a two-state solution for Israel and Palestine. This approach may help stabilize markets by reducing the volatility tied to prolonged conflicts. Donald Trump, the Republican candidate, takes a more aggressive stance. He supports a strong alliance with Israel, endorses military responses to threats from Iran and its regional affiliates, and prioritizes U.S. strength and independence. Trump's “America First” stance could lead to continued or heightened tensions, which historically correlates with higher gold prices due to investor flight to safe-haven assets. In summary: Kamala Harris: Diplomatic de-escalation, which may stabilize gold prices. Donald Trump: Military strength and strong alliances, likely to keep prices high in case of increased tension. These policy differences could significantly impact markets depending on which candidate wins. Please support us by liking and leaving comments!
OANDA:XAUUSD
by habib75rajabi
Gold's Next Bullish Move: Key Levels to WatchSharp bearish move is observed since October 31, this swift move continued after a relief rally during the November monthly opening completing a zigzag pattern towards the second wave of the preceding impulse one degree lower. Current market rally is a potential reversal that completed a five wave move for wave one (cyan), and is now completing a zigzag correction for wave two once market successfully reacts on current price levels this could also be a C leg of a Gartley/Crab Harmonic Pattern. If market reacts on the Gartley PRZ it could complete a three wave pattern that can be an intervening X wave or a B wave of a potential triangle . If market proceeds towards D1 FVG which also falls on the wave three measurements, market might make a sideways movement for wave four before proceeding towards the draw on liquidity on October High then finally completing the five wave sequence on the Crab Harmonic Pattern PRZ
CAPITALCOM:GOLDLong
by xTomato
XAUUSD - 2024/11/08Looks like XAUUSD has already made the move that I was waiting for during Asian session. I will monitor the market to look for a potential retrace back into the 1h volume sell zone to take more shorts, but at the moment if the market does reverse back to entry I would be skeptical to enter because the market can easily just continue the bull run. Even though we had a strong push down with the US elections, XAUUUSD is still in a bullish market and needs to be taken into account when looking for shorts.
OANDA:XAUUSDShort
by VizeCapital
Long xauusd• Current Price: As of this data, the price is around 2,705.9 USD per ounce, showing a slight decrease of 0.6 USD, or about -0.02%. • Chart Analysis: • A red moving average line is displayed, possibly a short or medium-term trend indicator. The price action is below this moving average, suggesting a bearish or downward trend over the period shown. • There are red and green candlesticks representing the price movement in each hour. • The current price (2,705.9) is marked on the right-hand side, with 2,706.5 just above it as another price level.
OANDA:XAUUSDLong
by Khalifapatrick
Intra-Day Strategies Part 2: Breakout Momentum Welcome to Part 2 of our intra-day series, where we shift our focus to breakout momentum. By syncing with natural price cycles—from quiet, narrow bands to fast, directional shifts—breakout momentum trading aims to seize short-term bursts of momentum with precision. What is Breakout Momentum? Breakout momentum is the initial surge in volatility when prices break out from a narrow range. Markets typically alternate between periods of contraction (when price hovers within a narrow band) and expansion (when prices break out, igniting higher volatility). Breakout momentum traders look to capitalise on these expansion phases as soon as they start, harnessing momentum for short-term trades. By focusing on these natural cycles, breakout momentum trades seek to capture brief but significant price shifts. Here’s a closer look at how to identify these setups and execute them effectively. Applying Breakout Momentum on a 5-Minute Chart Step 1: Identify a Contraction Phase The first step is spotting a contraction phase, visible as a tight, sideways range on the 5-minute chart. Look for: • Range-Bound Price Action: Price consolidates within a defined range, with minimal directional movement. Tighter ranges suggest that an expansion may be imminent. • Low Volume: Contraction phases often coincide with lower-than-average volume, signalling reduced buying or selling pressure. • Declining ATR (Average True Range): The ATR, an indicator of volatility, may decline or stabilize at a lower level during this phase, indicating limited price movement. Identifying this "contraction zone" is essential for recognising potential breakout setups. The longer price remains in this phase, the stronger the breakout can be. Step 2: Check Market Structure After identifying a contraction zone, examine the market structure to confirm that the breakout has room to move. This means analysing nearby support and resistance levels to ensure there’s enough “headroom” (for an upside breakout) or “downside space” (for a downside breakout) for momentum to develop. • Assess Resistance for Upside Breakouts: If you're anticipating a bullish breakout, check for any immediate resistance levels above the contraction range. Strong resistance just beyond the breakout point could limit the trade’s potential if it leads to a reversal or stalls momentum. • Review Support for Downside Breakouts: For bearish breakouts, look below the contraction zone to identify any major support levels that might slow or halt downward momentum. Clear space below can indicate a better setup with room for the price to fall freely. By checking the market structure, you set up breakout trades with a clearer path, minimizing the risk of false starts from nearby resistance or support levels. Step 3: Entering on the Breakout With contraction and momentum confirmed, enter the trade as the breakout begins: • Price Breaks Out of Range: Go long if the price moves above the contraction range’s resistance or short if it drops below support. A strong breakout candle reinforces the signal. • Volume Surge: Ensure that volume increases substantially with the breakout, as this confirms broad buying or selling interest. • Candlestick Patterns for Extra Confirmation: If you see a bullish engulfing pattern for an upside breakout or a bearish engulfing for a downside breakout, this can add extra validation to your entry. Example 1: Gold (XAU/USD) 5-Minute Chart Gold (XAU/USD) shows a tight consolidation phase on the 5-minute chart, followed by a clear breakout. A surge in ATR and volume confirm the momentum. Past performance is not a reliable indicator of future results Example 2: Apple (AAPL) 5-Minute Chart In Apple’s case, a similar pattern emerges but on the short side, with price contracting before a sharp breakout to the downside. Confirmation indicators reinforce the move’s strength. Past performance is not a reliable indicator of future results Managing the Trade Trade management is vital in breakout momentum trading, as reversals can happen quickly. • Stop Placement: Position stops just outside the range—below support for long trades or above resistance for short trades. This limits risk and enables swift exits if the breakout falters. • Profit Target: Aim for a 1:2 risk-to-reward ratio, or use the ATR to gauge a realistic target based on the breakout’s momentum. • Trailing Stop: If the trade moves in your favour, use a trailing stop to lock in profits while allowing for further movement, especially if momentum remains strong. Tips for Effective Breakout Momentum Trading • Focus on High-Volume Sessions: Breakouts in high-volume trading hours, like the NYSE or LSE open, tend to be stronger and more sustained. • Use Confirmation Indicators to Avoid Fakeouts: Range-bound markets can produce false breakouts, so use indicators like volume and ATR to validate the breakout’s strength. • Stay Focused with Limited Screen Time: Momentum trades demand quick thinking and focus. Short, focused sessions can improve decision-making and help avoid fatigue. Breakout momentum trading aligns with the natural volatility cycles of the market, allowing you to capture the momentum that follows narrow ranges. In Part 3, we’ll cover trend continuation strategies, offering a balance of momentum and patience. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
CAPITALCOM:GOLD
by Capitalcom
XAU/USD 07 October 2024 Intraday AnalysisH4 Analysis: -> Swing: Bullish. -> Internal: Bearish. As highlighted in my analysis dated 31 October 2024: We should remain aware that the daily timeframe has been showing early signs of a potential bearish pullback phase initiation, suggesting that price could print a bearish iBOS despite H4 internal structure being bullish. This printed as anticipated, with price printing a bearish iBOS that also confirmed the swing structure. Price is now trading within an established swing range. Intraday Expectation: Price is expected to print a bullish CHoCH, indicating the start of a bullish pullback phase. Note: Due to the Fed’s softer stance and ongoing geopolitical tensions, we should remain mindful that volatility in Gold is likely to persist. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bearish. As detailed in yesterday's intraday analysis dated 06 November 2024, I noted that price was expected to target the weak internal low. Price printed to this expectation, successfully targeting the weak internal low and printing a bearish iBOS. Following this, price has printed an additional bearish iBOS and a bullish CHoCH, confirming the internal range. Intraday Expectation: Price is anticipated to target the weak internal low after reacting from either the premium of 50% EQ or the M15 supply zone. Note: Considering the Fed’s softer stance, and rising geopolitical tensions, price volatility is likely to remain elevated. M15 Chart:
OANDA:XAUUSD
by Khan_YIK