goldfollow the chart
we got only 15mins confrm pips use very low risk
sorry cant post below 15mins
buy from 1min entry
XAUUSD trade ideas
Gold's rising momentum continues unabated, continue to focus on
As a traditional safe-haven asset, gold is often favored during periods of geopolitical turmoil. So far this year, gold prices have risen 35% and are expected to record their best annual performance since 1979. The intensified conflict between Israel and Lebanon has led to tensions, further boosting market demand for gold. Israel's recent air strikes have caused a large number of civilian casualties, attracting widespread attention and condemnation from the international community. The Lebanese Prime Minister said that the two sides may reach a ceasefire agreement in the next few days. Although this news may ease short-term tensions, market concerns about the future situation remain.
The release of US third-quarter economic data showed that GDP grew 2.8% month-on-month, and consumer spending grew 3.7% at the fastest rate in a year and a half. Despite the strong economic performance, inflation has slowed, with the core personal consumption expenditures (PCE) price index rising only 2.2%. These data provide new clues to the Fed's policy path. The market generally expects the Fed to cut interest rates by 25 basis points at its meeting next week. Despite strong economic growth, gold remains the first choice for investors in an uncertain environment. As the election approaches, the market is full of doubts about the future direction of US economic policies, and the safe-haven demand for gold may rise further.
The supply and demand of gold also affects the price. Uncertainty in the global economy has prompted investors to increase their allocation to gold, especially in a low-interest rate environment, where the attractiveness of gold as an interest-free asset has increased. At the same time, the loose policies of central banks around the world continue to support gold prices. In response to the economic slowdown, many central banks have generally adopted measures such as interest rate cuts and quantitative easing, which has further boosted demand for gold.
On Wednesday, it hit a record high of $2,789.89 per ounce. On Wednesday, mainly driven by the uncertainty of the US presidential election and geopolitical tensions, investors' demand for safe-haven assets increased significantly. Gold hit a record high again on Wednesday. Today, investors continue to pay attention to the 1-hour support area below 2,778, and go long on gold after the correction stabilizes.
Thank you for your likes, thank you
GOLD 4hAccording to Elliot's wave counting conditions, we are probably currently waiting for the formation of wave 4 out of 5 out of 3 out of 5. The correction of this wave can continue until the range of 2660-2610 and after that the price will rise to create a new ceiling.
XAU/USD Intraday Trading Plan: Key Price Levels and Scenarios1. Immediate Key Price Levels
Primary Resistance (2,790.115): This is the near-term resistance level to watch. Price approaching this area without breaking it could signal a potential short setup. If broken with strength, this level may act as new support.
Point of Control - POC (2,782.227): This level is today's pivot point due to high trading volume in this zone. Price holding above this level suggests bullish sentiment; a drop below signals potential bearish control.
Secondary Support (2,773.665): This is the critical support level in case of a downtrend. If price reaches this area and holds, it may provide a buying opportunity; however, a break below indicates strong bearish momentum.
2. Scenarios for Today
Scenario 1: Bullish Breakout (Continuation)
Trigger: Price breaks and closes above Primary Resistance (2,790.115) with increasing volume, indicating buyers are in control.
Target Price Levels:
Short-Term Target: 2,795.051 (minor resistance from Fibonacci level 0.272) as the initial upside target.
Extended Target: 2,803.705 (High Invalidation Point for Wave 5) – this is a major resistance level with possible volume divergence. It is crucial to monitor volume here, as lower volume at this level could suggest an imminent pullback or trend reversal.
Stop-Loss: Set below 2,782.227 (POC), since a move back below this level would invalidate the bullish breakout.
Invalidation Point: POC (2,782.227) – a drop below this level may indicate a false breakout.
Scenario 2: Reversal at Resistance (Bearish)
Trigger: Price rejects near 2,790.115 (Primary Resistance) with weak volume, indicating that sellers are stepping in.
Entry Point: Initiate short positions near 2,790.115, ideally after observing bearish candlestick patterns or volume declining near this level.
Target Price Levels:
First Target: 2,782.227 (POC), where price might find some support. Partial profits could be taken here, as POC often serves as a consolidation zone.
Secondary Target: 2,773.665 (Secondary Support) – the next significant support level below the POC.
Stop-Loss: Above 2,803.705 (High Invalidation Point). If price surpasses this level, the bearish reversal scenario is invalidated.
Invalidation Point: A confirmed break above 2,790.115 would indicate potential upside continuation and invalidate this short position.
3. Additional Key Terms and Concepts
Volume Divergence: Monitor for volume divergence at the 1.236 (around 2,802) level, as this could indicate reduced buying interest and signal a potential reversal.
Break of Structure (BOS): If the price breaks below POC (2,782.227), it signals a BOS (Break of Structure), favoring bearish momentum. This would confirm a downtrend for the rest of the day.
Inducement Wave 3: Part of the current wave structure suggests an inducement, which might attract buyers at Primary Resistance only to see a potential reversal if it fails to break.
Point of Control (POC): This is the area with the highest traded volume (2,782.227). If price holds above this level, it acts as a bullish pivot point, while a breakdown signals bearish sentiment.
4. Summary of Today's Plan
Bullish Bias if price breaks and holds above 2,790.115, aiming for 2,803.705 as an extended target.
Bearish Bias if 2,790.115 is rejected, targeting 2,782.227 (POC) initially and 2,773.665 (Secondary Support) as an extended target.
Risk Management:
Tight Stop-Losses: Use key levels such as 2,803.705 for shorts and 2,782.227 (POC) for longs to manage risk.
Volume Monitoring: Pay close attention to volume behavior, especially near resistance and support levels, to gauge the strength of any breakout or rejection.
NFP Ahead: Targeted Short Strategy for Optimal GainsMarket Insight: Great work today on capturing profits with the short trade, everyone! My VIP members and I have made impressive gains. If you're interested in continuing to secure these returns, reach out to me directly—we’re setting up for a major strategic move.
With most key economic releases for the week showing bearish outcomes, tomorrow brings one more critical release: the U.S. October Non-Farm Payroll (NFP) report, which is highly likely to impact gold negatively. We’ll continue focusing on short positions for the remainder of this week. Looking ahead, however, as the U.S. election concludes next week, we anticipate a potential shift, at which point we’ll pivot to long strategies to capture possible upside momentum.
Current Gold Trading Strategy:
Entry Level: Short gold at 2740
Take-Profit Target: 2730
Stop-Loss: 2750
Exclusive Member Strategy Update: This strategy will only be shared once today. For tomorrow’s detailed NFP trading plan, I’ll be providing specific guidance exclusively to my VIP members. If you’d like to join and get access to tailored strategies, reach out now!
Gold Potential UpsidesHey Traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around 2745 zone, Gold is trading in trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 2745 support and resistance area.
Trade safe, Joe.
Gold next move (weekly forecast)(07 October- 11 Oct-2024)Go through the analysis carefully, and do trade accordingly.
Anup 'BIAS for the week (07 October- 11 Oct-2024)
Current price- 2653
1st Scenario, (bullish move)
"if Price stays above 2640, then next target is 2663, 2673 and 2688 and below that 2632"
if price fulfills the 1st Scenario,
2nd Scenario, (bearish move)
"if Price stays below 2690, then next target is 2660, 2645 and 2620 and above that 2700"
-POSSIBILITY-1
Wait (as geopolitical situation are worsening )
-POSSIBILITY-2
Wait (as geopolitical situation are worsening)
Best of luck
Never risk more than 1% of principal to follow any position.
Support us by liking and sharing the post.
MARKET NEXT CORRECTION AREASAdditionally, any decline in gold may present buying opportunities as the metal remains a favored hedge amid inflation and heightened global tensions. If momentum persists and resistance levels at $2,751 and $2,800 are decisively breached, analysts project that gold could aim for new highs around $2,820 or higher. However, a break below $2,710 could suggest a deeper correction to $2,685 before buyers re-enter the market
In the current gold market, analysts expect a potential retracement following a significant rally, reaching near all-time highs driven by geopolitical uncertainties and Federal Reserve rate cuts. Gold has been hovering around resistance points in the $2,700-$2,800 range as October progresses, and technical indicators suggest possible corrections due to overbought conditions. Specifically, gold’s Fibonacci support level around $2,733 could mark a key area for short-term pullbacks, possibly to $2,700 or lower, before an anticipated continuation upward in Q4 due to seasonal patterns
XAUUSD, 15-MINUTES TIMEFRAME CHART XAUUSD, 15-minute timeframe chart
General outlook
XAUUSD has been trading side ways within the last couple of hour.the pair moved 2770-2788
Possible scenario
The best way to use this opportunity is to place a sell limit order at 2,788.
Set your stop loss at 2,795. below the previous low ($8.00 loss for 0.01 lot) and take profit at 2,768. ($20.00 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
Gold Market Outlook: Analyzing Buy Signals and ATH PossibilitiesA great purchase opportunity is indicated by our current market analysis , which shows a tested support level at 2735-2730 . Given these indicators, the market might hit a new all-time high (ATH) . My research suggests that XAUUSD is a good buy , especially as fundamentals imply that the dollar may depreciate , likely strengthening gold’s value. Additionally, we can expect selling pressure around the supply level of 2773-2780 ,
but I’m also confident that NFP (Non-Farm Payroll) shows a compelling buying opportunity .
A* boost would be greatly appreciated if you found this analysis useful; it’s always encouraging to know my observations are understood!
Xauusd Hi traders based on last gold analysis ; we have a gap 9r fvg; it's sign of market reversal. after higher high market is bearish
Gold Monday 04/11/2024Analysis Summary:
Support Levels:
Support 1:
2736 - A key level that may serve as a potential bounce point for price.
Support 2:
2720 - An additional lower support level within the lower OB zone, where demand might increase.
Resistance Levels:
Resistance 1:
2753 - An initial resistance level that price may encounter on the way up.
Resistance 2:
2760 - A higher resistance located within the upper OB zone, which could hinder further upward movement.
Order Block (OB) Zones:
Upper OB: Between 2753 and 2760 - A potential selling pressure area that may limit upward price movement.
Lower OB: Between 2730 and 2720 - A strong support area where buying pressure may emerge.
> Note: These levels represent potential reversal points, and it is recommended to monitor technical signals when price reaches these areas to confirm the future direction.
Gold: Prepare to short or lighten your longsFrom my previous analysis on 1st Oct saying that Gold is taking a break, it did a sideway correction for the next 6 trading sessions before pushing up again. That was a "neutral" call. Now, I see that Gold is reaching wave 3 target of $2801, meaning there should be a meaningful enough wave 4 correction to go short or at least lighten your longs.
There is a convergence of 3 Fibonacci extension levels around $2801, plus completion of 5-wave structure.
Conditions for a correction cycle, pay attention to US PCEAt the time of writing on Thursday (October 31), spot gold was at 2,783 USD/ounce, after reaching a previous record high of 2,790 USD/ounce.
Gold prices rose nearly $13 on Wednesday as uncertainty over the US presidential election fueled safe-haven demand.
Today, the U.S. Bureau of Economic Analysis will release the Personal Consumption Expenditures (PCE) price index for September, which is the Federal Reserve's preferred inflation indicator and is expected to trigger a big fluctuations in the market.
It is expected that the US PCE price index in September is expected to increase by 0.2% over the previous month and 2.1% over the same period last year.
Surveys also show that the core PCE price index in the US in September is expected to increase 0.3% over the previous month and 2.6% over the same period last year.
Also on the same day, seasonally adjusted initial unemployment claims in the United States for the week of October 26 will be released, expected to be 230,000, compared to 227,000 the previous week.
Following the release of the PCE data, investors will need to focus on the US nonfarm payrolls report on Friday.
The focus this week is on jobs data and if strong non-farm payrolls data will support the Federal Reserve to pause interest rate cuts in December. However, in case NFP data is lower than expected Expected results will be positive for gold prices. Details about this data will be sent to readers in tomorrow's publication. Today we will focus on US PCE data.
Analysis of technical prospects for OANDA:XAUUSD
On the daily chart, gold corrected slightly from the area of the 0.50% Fibonacci extension you noticed in yesterday's edition and the temporary correction was not significant.
Maintaining below the 0.50% Fibonacci level gives gold the ability to decrease a bit more with a short-term target of around 2,768 - 2,770 USD where the price point of the 0.38% Fibonacci confluences with the upper edge of the price channel.
In terms of the main trend, gold still has a main trend of increasing prices, but in terms of market structure, gold has also had a long period of price increase where the market will not be able to move in a straight line. Therefore, traders need to be ready for downward corrections, and must also note that during the past 2 years, corrections of hundreds of prices or more have occurred quite frequently. This makes us (traders) have to adapt to the current market environment, the appropriate measures are still volume control and appropriate opening positions and strict protection levels.
Currently, if gold falls below the 0.382% Fibonacci level, it would open up a short-term correction with a near-term target around $2,745 as the RSI attempts to turn Go below Level too buy. RSI below is overbought so it is considered a negative signal for gold price.
During the day, the main outlook remains bullish but there are expectations for the above downside correction and notable comments are listed below.
Support: 2,770 – 2,768 – 2,757 – 2,745USD
Resistance: 2,786 – 2,790USD
SELL XAUUSD PRICE 2803 - 2801⚡️
↠↠ Stoploss 2807
→Take Profit 1 2796
↨
→Take Profit 2 2791
BUY XAUUSD SCALPING PRICE 2756 - 2758⚡️
↠↠ Stoploss 2752
→Take Profit 1 2763
↨
→Take Profit 2 2768
BUY XAUUSD PRICE 2749 - 2751⚡️
↠↠ Stoploss 2745
→Take Profit 1 2756
↨
→Take Profit 2 2761
GOLD old prices rose and are set to achieve weekly and monthly gains, driven by increased demand.
REUTERS
Additionally, Citibank's research unit has raised its three-month gold price forecast to $2,800 per ounce, citing potential further deterioration in the U.S. labor market and possible interest rate cuts by the Federal Reserve, which could boost demand for gold.
INVESTOPEDIA
Based on this information, the current trend for gold prices appears to be upward.
Gold Trade Alert: Targeting $2,765 with 2:1 RRTrade Setup for Gold (XAU/USD):
Entry Point: $2,753
Stop Loss: $2,747
Target: $2,765
I'm looking at a short-term entry at $2,753, aiming for a quick move up to $2,765. With a 2:1 risk-reward ratio, this trade has a tight stop, making it a calculated play. Watch out for momentum around the entry level, and manage risk carefully. Let's see how the market responds!
XAU / USD 4 Hour ChartHello traders. Happy Friday. I have marked my area of interest on the chart. This is the 1st day of a new month, and a Friday so I am not looking to take a trade until next week. Wishing everyone a profitable day. Shout out to Big G. Let's see how the overnight sessions go. I will check back for the Pre NY volume in about 6 hours from now. Be well and trade the trend.
Strategic Gold Trading in NFP Week: Steady PositioningStrategy Overview: This week, marked by the upcoming Non-Farm Payroll (NFP) data release, is likely to see limited market movement in the initial days (Monday and Tuesday) with price oscillations predominantly within a narrow range. Main volatility is expected between Wednesday and Friday evening. Based on last Friday’s daily chart analysis, gold prices are consolidating within the 2720-2740 range. Accordingly, today and tomorrow’s strategy involves maintaining positions within this range, employing a cautious approach.
Specific Trade Setups:
Enter long positions on gold between the 2725-2728 range
Initiate short positions on gold between the 2737-2739 range
Trading Mindset: Maintain composure, adhere strictly to the strategy, and seek optimal entries to capitalize on potential price swings during NFP week.
XAUUSD:29/10 Today's Market Analysis and StrategyGold technical analysis
Daily resistance 2800, support below 2700
Four-hour resistance 2760, support below 2733
Gold operation suggestions:
From the current market trend, we will rely on the 4-hour level support to arrange long orders. The upward trend channel support is near 2735-38. It is our opportunity to arrange long orders near this position. The upper pressure opportunity is 2758-2762. At present, shorting in such a market is only a small decline and accumulation of momentum. Wait patiently for the key point to enter the market.
BUY:2733near SL:2730
BUY:2739near SL:2735
The strategy only provides trading directions.
Since it is not a real-time trading guide, please use a small SL to test the signal.
#XAUUSD: On the way to $2800! 600+ Pips Swing Buy**XAUUSD: 1-Hour Chart Analysis**
Hello Traders,
Gold experienced a surge, reaching 2605 before reversing its direction. Investors anticipated a decline below 2700$. However, the price rebounded to 2743$, filling the volume gap and subsequently dropping to 2715$, which marked the last low. Despite this, the price failed to establish another lower low. Subsequently, it fluctuated within the vicinity before exhibiting a shift in price character.
The upcoming chart analysis indicates an exceptionally bullish outlook. Price has the potential to create another higher high, supported by robust fundamentals and technical indicators signaling a strong bullish sentiment. Traders with open buy positions may consider holding them.
Best of luck and trade safely.
XAUUSDIs XAUUSD exhausting at resistance zone?
As the price is been on high bull run but now it seems like price is lacking bullish momentum after printing double top pattern at resistance level and bearish divergence suggesting the sell pressure is about to start.
If the bears took control , the 1st target could be 2700 followed 2780.
What you guys think of it?
