Gold uptrend continues in upchannalGold uptrend continues in upchannal, It has retraced exactly uptrendline
XAUUSDG trade ideas
Gold Prices Dip as USD Rebounds Global gold prices continued their downward trend, with spot gold dropping by $11 to $2,736.5 per ounce, a decrease of $10.9 from yesterday morning.
The rebound of the US dollar exerted significant pressure on gold, causing the precious metal to lose 0.2% in a day after a 1.5% drop on Thursday. Consequently, the dollar regained its previous losses and climbed by 0.4%, making gold a less attractive option for investors.
GOLD BUYSLooking to take 75 % Partials at 2770.
Final position close at 2780
Lets see how everything goes
Xauusd sell NFP signal Gold recovers some lost ground and trades slightly above $2,750 on Friday. The uncertainties surrounding the US presidential election and the ongoing geopolitical tensions in the Middle East provide some support to the precious metal as focus shifts to key US data.
Gold now sell 2753
Support 2730
Support 2720
READY SELL GOLD AT RESISTANCE ZONE Here on Gold price pushed down but now recovery so it likely to move down more if it reach a resistance zone of 2708.234 so trader should go for SHORT and expect profit target of psychological level of 2615.000 with stoploss of around 2737.730 . Use money management
IS XAUUSD CORRECTION OVERIn my recent analysises I warned that a significant correction is xauusd correction in xauusd prices was inveitable.
True to this predication the election of Donald Trump triggered a sharp 1000 minus pips dropin xauusd value However yesterday the market rebounded strongly recovering 700 pips from that intial decline.
The big question now is wether this correction has run its course in my view we may have reached a bottom and xauusd could be poised to resume its overall uptrend.
im currently looking for buying oppurtunities on dips.
Resistance 2720. Support 2692. Today's market analysisGold attacked 2710 and stood on the 2700 mark again. The adjustment range is very large. The market fluctuated greatly recently, fluctuating back and forth by 70~100$, so don't chase the rise or follow the short. Pay attention to the continued high action at the end of the week. Go long first and then go short when the correction is made!
The Federal Reserve's interest rate decision for gold was cut as expected, and the expectation of interest rate cut was realized. Gold is now encountering resistance and fluctuating. Today, it is mainly high and low. After the strong rebound of gold yesterday, the short trend of gold has temporarily come to an end, but the market may not reverse. It is likely to start a volatile market again.
The 1-hour moving average of gold has not turned around yet, and gold may not start to reverse for the time being. Gold seems to rebound strongly, but gold has repeatedly fallen under pressure above 2720. It continues to go short at highs below 2720 in the Asian session. Gold 2720 can be shorted first.
First support: 2692, second support: 2687, third support: 2672
First resistance: 2720, second resistance: 2736, third resistance: 2750
Trading strategy:
Trading based on resistance and support, BUY: 2691-2693. SELL: 2720-2722
who even is shorting gold right now? welp thats me.Gold surge is mostly because of war concerns, trump assuming office will provide us peace in the long run.. we have a structural edge with 2 sizes
1 is already confirmed and the 2nd one is theorized.
now that we break and lose levels below the neckline we will visit the larger structure pattern for the right shoulder. a bearmarket rally to the right should should provide the test and confirmation for a larger distribution on a larger scale.
my home run is on 2400 area but i will take profit on any major levels and keep my position running and hedge ofc against it.
GL to all traders and investors.
GOLD showing signs of post election bull runWe can see this through 3 confirmations;
-break above of long term channel symbolized with blue line,
-shortly after the break above price formed a new channel symbolized with light purple line which was then broken above too,
-the most important confirmation is continuous support at 2733 where before it broke above of both channels, it supported 2733
XAU/USD Buy Entry Gold is in a bullish trend, we can take entry on a bit more correction & place SL on the last HL.
mini double bottom could lead to retest very high resistance zonmini double bottom could lead to retest very high resistance zone
because it can be seen as reversal signal
so waiting and monitoring 2772 for now
xauusd 11/3/2023 next predition time make $$$$$$ on xauusd us30 gbpusd eurjpy etc...... lest make profit
Gold Intraday Trading Plan 11/4/2024This is my prediction for gold today. As explained in my weekly review, i expect gold to form a head and shoulder pattern.
Therefore, I expect gold to rise to 2745 then drop to 2720 and reverse again in US trading session to 2745.
I will look for the trading opportunity at the indicated key levels in the chart.
XAUUSD SELL PROJECTION Gold XAUUSD gas been bullish for a while, and we can see a breakout from The channel and is forming rectangular trend, so I expect price to hit the supply zone and go short
Bullish in Gold from herefrom my MAP Strategy GOLD will be Bullish from here
MAP strategy is my own way if you see carefully in the chart and the line which price moves between them
XAUUSD 12M 1. Elliott Wave Structure Overview
Wave 1 to Wave 5 (Impulse Waves): The chart outlines a classic five-wave impulse structure, indicating a long-term uptrend for XAU/USD. This sequence suggests a series of strong moves up, with each wave climbing to higher price levels.
Wave 5 Completion: The fifth wave appears to have reached its final stages, potentially signaling the invalidation extension above Wave 5 if the price moves higher than 3,187.83. This marks the end of the impulsive phase and could lead to a corrective phase (A-B-C pattern).
2. Corrective Phase (A-B-C Waves)
Wave A (Initial Decline): If Wave 5 is complete, we may see an initial decline in prices, marking the start of Wave A in the corrective phase. This move typically retraces the preceding impulse and could lead prices toward lower support levels.
Wave B (Corrective Rally): Wave B is often a short-lived rally within the larger downtrend and may present a false breakout or inducement for retail traders. This rally can lure traders into buying prematurely, only for the market to resume its decline.
Wave C (Continuation of Decline): Following Wave B, Wave C typically resumes the downtrend. This final corrective wave might present a significant buying opportunity as it reaches strong support levels, such as the Point of Control (POC) around the 1,400.00 area, a common zone of equilibrium in the market.
3. Key Fibonacci Levels and Their Importance
0.618 Retracement: Fibonacci retracement levels like 0.618 are crucial for identifying support zones during corrections. This level, marked at around 890.62, is annotated as MUST NOT PASS WAVE 1 INVALIDATION, indicating a strong support area in the corrective phase.
1.236 and 1.618 Extensions: The 1.236 and 1.618 Fibonacci extensions are key indicators of possible trend exhaustion. Specifically, 1.618 at 2,778.78 is noted as the potential maximum for Wave 5, signaling an area of volume divergence where momentum might start to weaken.
4. Volume Divergence and Implications
Divergence in Volume on Wave 5: A decrease in volume while prices continue rising (volume divergence) in Wave 5 implies that buyer momentum may be fading. This could be a signal of an upcoming reversal or correction phase, aligning with the start of Wave A in the corrective structure.
5. Break of Structure (BOS)
Key BOS Levels: Break of Structure (BOS) marks areas where the market structure changes direction, signaling potential trend shifts. For example, BOS MSS Wave 1 (12M) indicates a structural shift in the first wave that could influence future trend changes.
BOS in Wave 3 (Potential Trend Shift): The BOS in Wave 3 may guide the corrective phase. If these BOS levels hold, they serve as critical areas of support or resistance during corrections, guiding potential entry or exit points.
6. Price Levels of Interest
Point of Control (POC): The POC, a high-volume node around 1,400.00, represents a point of interest and a key equilibrium area. In corrective phases, prices often return to this level, serving as strong support and a potential buy zone.
Premium and Discount Zones: The chart uses premium and discount zones to signify favorable buying and selling areas. The discount zone reflects levels where prices are seen as relatively low, and a buy opportunity might arise. Conversely, the premium zone signals overbought conditions and potential sell opportunities.
7. Market Psychology and Retail Traps
Inducement and False Breakouts: Terms like inducement Wave 4 (12M) highlight areas where retail traders may be led to buy or sell at suboptimal times. The fake breakout in Wave 4 suggests that traders might be lured into taking long positions, only for the market to reverse downward.
Markup Phase (12M): The markup phase typically occurs when institutional players drive prices higher, accumulating positions at lower levels before pushing the market up. The return to the flip zone indicates where institutional interest often lies, triggering rallies as it becomes a point of interest.
8. Next Week’s Trading Plan
Based on the analysis above, here’s a structured plan:
Primary Strategy: Seek short-selling opportunities if the chart is entering Wave A of the corrective phase, with the expectation that the market may decline in the short term.
Target Levels:
Wave A Support Zone: Watch for reactions at the 0.618 retracement level, around 890.62, which is annotated as a must-not-pass zone for invalidation. This area could attract buying interest if the price dips.
Wave B Resistance Zone: If Wave B forms, consider this a temporary rally. Short positions might be ideal if the price reaches the premium zone, signaling overbought conditions.
Wave C Completion: Look for a significant buy zone if prices reach key levels, such as the Point of Control (POC) near 1,400.00, marked as a point of interest and equilibrium zone.
Risk Management: Place stop-loss orders above the invalidation extension above Wave 5 at 3,187.83 to control risk if the wave count is proven wrong.
Volume and Price Action: Monitor volume spikes and price action during corrective moves to confirm trend reversals or trend continuations.
Summary of Key Points
The analysis suggests that Wave 5 may have peaked, with a corrective A-B-C structure likely to follow.
The corrective phase provides potential sell opportunities in Wave A and B, while Wave C could mark an ideal buy zone.
Use premium and discount zones to identify favorable buying and selling areas, and watch for retail traps like inducement and false breakouts.
Equilibrium areas like the POC (around 1,400.00) serve as potential support zones for longer-term buy positions.
Keeping my Selling order / #2,652.80 benchmark TargetFundamental analysis: Within turbulence caused by the U.S. presidential election and Head and Shoulders pattern aftermath, Gold finally broke through the Channel formed since the beginning of August. This does not change the Long-term Bull outlook for now, but the correction now is promising to be greater than the last couple of times. The Bottom line of the next Channel can be the February one, which represents Sellers goal (#2,592.80 – #2,600.80). As Fundamental effects usually correct back half of the Price-action change in the short period that follows, a retest of the Lower line of the August channel seems very likely. Based on this, the obvious strategy is to re-Sell Gold on bigger charts from the psychological levels / benchmarks (these are also Fibonacci retracement levels for the full or local decline).
Technical analysis: So far so good as my first Selling Target is concluded near #2,682.80 Weekly Bottom and local Low's. Overbought Technicals prevailed followed by a strong Bearish reversal in form of Selling candlestick formation that Priced in a Bottom with #2,682.80 as first signs of new-old Support zone appearing, on a Hourly 4 chart’s Three Black Crows candle extension. Despite this, both Hourly 1 and Hourly 4 chart were completely Overbought, and current sequence on Gold was Natural response to such Technical development. No Moving Average still supports Buying bias on any chart, however this is typical Price-action behaviour near Daily chart’s local Bottoms or Top’s. Reversals are not evident and remember that the #2,652.80 - #2,662.80 is a heavy downside Support zone. For now as expected, no signs of Bullish reversal. On such a range bound session, Gold value continues to operate within my Hourly 4 chart's chart’s Bollinger bands. Market closing is adding credence to Sellers, and if market opens on Monday with Selling spike below #2,652.80 benchmark (last strong Support), break of the mentioned zone can aim for another #2,600.80 strong Support line (as cycle showcases that #2,600.80 test might be ahead. Everything in between is Price-action Daily fluctuation which contains no new clues where Price-action will Trade next. Keep in mind however that Technically I can expect Lower levels to be met and tested, however current market structure still holds Medium-term Bullish bias (since Hourly 4 chart is showcasing Bullish presence) and only if #2,700.80 psychological mark breaks and gets re-tested and market closes above (both Weekly and Daily market closing), I can expect Medium-term sentiment to regain Buying status. These multi-session gains on Gold are almost negated with respectful amount of losses Gold delivered and invalidated multi-Month Ascending Channel.
My position: As I expected Fed easing the Rate and which may hurt the DX even more, I have awaited the Fed Rate announcement aftermath and engaged re-Sell order with #2,708.80 since I was aware that Gold will not deliver a move once again above #2,727.80 Medium-term Resistance zone. My order is currently running however I have missed the chance to close the order on #2,682.80 Support / even though my Profit on my re-Sell order is decent already, I will take the Risk and keep the order and close it as close as #2,682.80 Support zone in extension on overall another excellent week for me.
30-mins GOLD: Bullish MA CrossoverOn the 30-min chart, Gold shows a bullish 20/60 MA crossover, with a pullback from the $2,710 high. Key Fibonacci supports: 23.6% at $2,698, 38.2% at $2,686 (aligns with 20-MA), and 50% at $2,680 (near 60-MA). RSI at 40 suggests neutral momentum; below that may signal deeper correction.
Brothers, my wavy man is here again. Was yesterday’s fuck perfecGold 1-hour level wave count: Accurate analysis yesterday showed that the purple fourth wave correction ended. Every time I grab the bottom or the top, no one dares to say that to me. Accurately grasp the bottom and escape from the top. Gold went up in five waves yesterday, and the expectations were perfect. Yellow 1 wave is completed. The second yellow wave is currently correcting. Pay attention to going long at Fibonacci 0.382-0.5-0.618, and the third yellow wave will start to rise soon, heading towards 2761-2790.
Gold Insights: Uncovering Today’s Opportunities 08-NOV-2024Rise and shine, traders! Start your day with actionable Gold insights. Let's grow your skills together, one chart at a time.
XAUUSDi'm envisioning such a path for gold in 5min time frame. if it breaches the small box and touches the box at the bottom (so called demand zone), and then return back sharply to the top box, I will enter a long for a TP-1
Does Gold Want to continue bearish???I'm Bearish on Gold but the question is, does the Dollar want to continue bullish to close out the week? Since it is Friday I'm keeping my expectation low cause we could end up in consolidation.
(XAUUSD) Will It Fall?Gold recovers following Wednesday's sharp decline and trades above $2,680. The benchmark 10-year US Treasury bond yield edges lower after Trump-inspired upsurge, allowing XAU/USD to hold its ground ahead of the Fed policy decisions.
