XAUUSD XAUUSD ( Gold / U.S Dollar )
Completed " 125345 " Impulsive Waves
Break of Structure
RSI - Divergence
Bullish Channel as an Corrective Pattern in Short Time Frame with the Breakout of Lower Trend Line
Fibonacci Level - 78.60%
XAUUSDG trade ideas
Xauusd-DIf it breaks the upward trend line in daily time, we can enter the downward trend
The primary target is the size of a flag
Daily XU & GU Nov 2024Hello Traders! Markets were hot last night and the Asian Model played out for several pairs.
Analyzing the Factors Behind the Recent Gold Price Decline
A Post-Election Dip
Gold prices experienced a significant decline following the recent US election. The precious metal, often seen as a safe-haven asset, retreated as the US dollar strengthened and Treasury yields surged. This confluence of factors put pressure on gold, which tends to perform poorly in a rising interest rate environment.
Why Did Gold Fall?
1. Stronger US Dollar: A stronger US dollar typically weighs on gold prices. When the dollar appreciates, it becomes more expensive for foreign buyers to purchase gold, reducing demand for the precious metal.
2. Rising Treasury Yields: Higher Treasury yields reduce the appeal of non-yielding assets like gold. As bond yields rise, investors may shift their focus from gold to fixed-income securities.
3. Reduced Safe-Haven Demand: The election results, while not entirely unexpected, may have reduced some of the safe-haven demand for gold. Investors may have perceived less geopolitical risk and economic uncertainty, leading them to seek out riskier assets.
Is More Downside Ahead for Gold?
While the recent decline in gold prices has been significant, it's important to consider the factors that could influence its future trajectory:
1. Economic Uncertainty: Despite the post-election rally, global economic uncertainty remains elevated. Factors such as geopolitical tensions, trade disputes, and potential economic slowdowns could continue to support gold's safe-haven appeal.
2. Inflationary Pressures: Persistent inflationary pressures could drive investors toward gold as a hedge against currency devaluation. Central banks may need to tighten monetary policy to combat inflation, which could indirectly benefit gold.
3. Central Bank Demand: Central banks around the world have been significant buyers of gold in recent years. Continued central bank demand could provide support for gold prices.
Technical Analysis
From a technical perspective, gold prices have broken below key support levels. A further decline could be on the cards, with potential targets at the next significant support levels. However, it's important to note that technical analysis is not foolproof, and market sentiment can change rapidly.
Investor Strategies
Given the current market conditions, investors may consider the following strategies:
1. Dollar-Cost Averaging (DCA): By investing a fixed amount of money in gold at regular intervals, investors can reduce the impact of market volatility.
2. Physical Gold: Owning physical gold can provide a tangible asset and hedge against inflation.
3. Gold ETFs: Gold ETFs offer a convenient way to invest in gold without the physical storage costs.
4. Diversification: Incorporating gold into a diversified investment portfolio can help reduce overall portfolio risk.
In conclusion, while the recent decline in gold prices is concerning, it's essential to consider the long-term factors that could influence its future trajectory. Investors should carefully assess their risk tolerance and investment goals before making any investment decisions related to gold.
Gold Sell Strategy: Targeting Profits at 2737 and 2730, with a DSure! Here's your translation with a more detailed explanation and key points highlighted:
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**"I have analyzed the trading chart today and set a target for gold sell. My first profit target is **2737**, and the second profit target is **2730**. Even if the price touches **2744**, it will eventually come down."**
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### Key Points:
1. **Trading Analysis**: You’ve done your analysis on the gold chart for the day.
2. **Sell Target**: Your first profit target for selling gold is at **2737**, and your second target is **2730**.
3. **Price Movement Expectation**: Even if gold briefly hits **2744**, you believe the price will eventually drop and come back down.
The idea here is that you're anticipating a downward movement in the price of gold, with two specific levels where you expect to take profit. You're also considering the possibility of a slight upward movement, but ultimately, you believe gold will fall.
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Does this breakdown and translation meet your needs?
Gold Intraday Trading Plan 11/6/2024As predicted, gold did touch my support level and bounce to 2648.
I am expecting 2648 broken today and price should at least touch 2758, potentially 2772 before a new leg down.
Let's see what the market will give us.
Please be reminded today is election day. The market will be very volatile.
XAUUSD: Bullish trendToday, gold has tested the support at the 2732-2728 range again. So far, the support remains intact, and the short-term trend is still leaning towards a bullish outlook. Based on this, the primary trading direction in the current session remains bullish.
From a technical perspective, gold is likely to continue its upward momentum in the near term. The key resistance zone to watch on the upside is between 2750 and 2758. It is worth noting that a resistance level has emerged around 2745 since the market opened yesterday.
However, given the overall trend, this resistance does not pose a strong technical barrier at the moment, and a breakout above this level is not expected to face significant difficulty.
Therefore, if gold can break above the 2745 level, there is a high likelihood of further gains towards the 2750-2758 range.
Gold Trading Insights Ahead of the Election!Although gold didn’t fluctuate much today, our returns were quite impressive! These small range movements create excellent opportunities for agile buying and selling. As I mentioned yesterday, the New York market did indeed decline today, and the buy signal I provided at the open hit the TP of 2745 perfectly. I then began selling, ultimately closing the trade at 2733 with great results.
Tomorrow is the election, and I believe the results will boost the dollar, which could lead to a drop in gold prices. I plan to continue selling during tomorrow's New York session. What do you think?
GOLD SHORT OVERVIEW (4H UPDATE)Overall bearish on Gold in the long term.
We have so far seen an impulse move down (Wave 1), now waiting for a corrective move (3 sub-waves) towards Wave 2.
XAUUSD 3M 1. Elliott Wave Structure and Key Levels
Wave 5 Completion (2,747.14): The fifth wave peaks around $2,747.14, reaching a 1.618 extension, suggesting this could be a point of reversal. The formation of volume divergence at this level indicates potential weakness in bullish momentum, marking a critical level to watch for a possible trend change.
Wave 1 (Current Correction Phase): The chart shows a beginning corrective move from Wave 5, indicating an A-B-C structure may follow. This corrective phase could bring prices down to fill previous gaps and approach key support levels.
2. Wyckoff Phases and Distribution Structure
Phase A (Accumulation - $1,046.23 to $1,512.84): This phase includes a consolidation around the $1,046.23 low and forms the base before a significant rally. The Automatic Rally (AR) and Secondary Test (ST) suggest the end of Phase A and a potential upward shift in market sentiment.
Phase B (Mark Up and Distribution at Resistance): After accumulation, prices move up in a mark-up phase, testing the Resistance Line of BC Distribution. This area includes Upthrust (UT) and Upthrust After Distribution (UTAD), which are signs of potential distribution before a downtrend.
Phase C (Breakdown Expected): Phase C may involve the start of a downtrend from Wave 5, with price likely returning to lower levels for further testing. This phase includes the Sign of Weakness (SOW) and anticipates a retest of support near $1,512.84.
3. Fibonacci Levels
0.618 Retracement ($890.62): The 0.618 retracement level is marked as a strong support, below which price should not pass without invalidating the bullish wave structure. This level could act as a long-term support area during the corrective phase.
1.236 Extension ($2,369.74): The 1.236 level marks a significant potential reversal area for Wave 5. A move back to this level could signal the completion of a deeper pullback, possibly a key point of interest for traders looking for long-term entries.
4. Liquidity and Key Order Blocks
Liquidity Void: The chart highlights a liquidity void in the three-month time frame (3M), representing an area where price may revisit to fill previous inefficiencies. This void may act as a magnet, attracting price downward in the corrective phase.
Buy-Side Liquidity (BSL) Area: The Buy-Side Liquidity (BSL) near the recent highs represents a key area where stop losses and limit orders are likely concentrated. This region may experience volatility as larger players look to capitalize on retail stop losses.
5. Support and Resistance Lines
Resistance Line - BC Distribution ($1,720.00): The $1,720.00 level acts as a key resistance line in the distribution phase. A break above or below this level in Phase B may confirm the direction of the trend and could signal a shift in momentum.
Support Line - AR Distribution ($1,512.84): The $1,512.84 level serves as a critical support in the accumulation phase and may act as a bottom if the market revisits this area in the corrective structure.
6. Break of Structure (BOS) and Market Sentiment Shifts
BOS Wave 3 (12M): The Break of Structure (BOS) in Wave 3 on the 12-month chart signals a major structural shift, often indicating the end of one trend and the beginning of another. This point may see increased volatility and shifts in market sentiment.
BOS in Phase B (3M): The BOS within Phase B on the three-month time frame highlights potential points of interest for continuation or trend reversal. It indicates that a shift in sentiment may occur, influencing market participants to prepare for trend changes.
7. Dealing Ranges and Points of Control (POC)
Dealing Range (12M-3M): This range, marked at recent swing high and low levels, provides a boundary for price movement, with the Point of Control (POC) likely aligning with high-volume areas. The dealing range helps in identifying areas where price could consolidate or reverse.
Current Trend (Dealing Range for Wave 4): The range defined for Wave 4, including swing highs and lows, offers insight into the ongoing market structure. Observing price behavior within this range helps to gauge the momentum of the corrective wave.
8. Next Week’s Trading Plan
Primary Strategy: The corrective phase is expected to continue, with a probable downward move to fill liquidity voids and test lower support areas.
Key Target Levels:
Downside Targets: Monitor support around $1,720.00 (Resistance Line) and $1,512.84 (Support Line). These levels could provide entry points if price tests and holds as support.
Upside Targets: Watch for potential shorting opportunities if price retests resistance near the recent swing high at $2,747.14.
Risk Management: Stop-loss orders should be placed above recent highs around $2,800.00 to manage risk if there’s an unexpected upward move.
Volume and Price Action: Look for volume divergence or signs of weakness near resistance levels, especially around the 1.618 level ($2,747.14), as they could signal a trend reversal.
Summary of Key Points
Wave 5 likely completed at $2,747.14, with a corrective A-B-C structure now underway.
Wyckoff Distribution phase suggests further downside as Phase C unfolds, targeting key support levels.
Liquidity voids and POC levels act as magnets for price, which may revisit these areas during corrections.
The Resistance Line at $1,720.00 and Support Line at $1,512.84 are essential for tracking entry and exit points in line with the current downtrend.
XAUUSD View!!Gold's rally may have run its course, UOB Global Economics & Markets Research's Quek Ser Leang says in a research report. Last week, gold formed 'Doji' pattern on weekly candlestick chart, which is typically perceived as a bearish signal, the markets strategist says. Crossover in weekly slow stochastics from overbought territory suggests downside risks are building. On the daily chart, gold broke below the three-month rising trendline support two sessions ago, with bearish divergence on daily MACD. However, any pullback will probably be choppy and potentially drawn out, with initial support at 55-day exponential moving average, which is now at $2,636/oz, the strategist adds. Spot gold is down 0.4% at $2,694.69/oz.
Gold is ready for downtrend Hey fellow traders, this is my view on Gold for the next coming months. We might revisit early 2000 and that should for last for about 6 months
XAUUSD View!!Spot Bitcoin ETFs Bring In No New Money, Only Recycled Investments
In a series of X posts on November 2, Bianco claimed the Spot Bitcoin ETFs despite their impressive inflow record do not attract any new investments to the underlying asset. Firstly, The analyst applauds the performance of these institutional funds some of which rank as the best-performing ETFs of 2024 following their launch in January.
Gold weekly summary and forecast 11/2/2024As expected in my last week's forecast, gold indeed touched upper end of the channel and dropped quickly and closed the week with a red candle.
I expect a few weeks' selling session is coming, if the channel is broken next week.
From 2d TF, bearish trend is not confirmed yet. I expect a head-shoulder pattern to form next week. So Monday we may see a quick drop to 2720 and reverse from there.
We could see a drop from 2760 on Wed onwards and close the week with strong red candle. Next week's low will be at least 2678.
Let's see what the market will give us.
Happy weekend and happy trading to all.
XAUUSD_1Dhello
Mid-term and long-term gold analysis
Elliott wave analysis style
The trend continues to rise and the trader only takes a buying position.
The support of 2715 and even 2666 dollars is possible, and in any case, we are buying only in steps, and the market can move towards the range of 2868 dollars as wave 3.
And again, we are buying every low towards $2666 for the final target towards the number of $3000.
XAUUSD / OVERALL UNDER UPWARD PRESSURE / 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
Gold is trading under bullish pressure despite a recent pullback of 2.09%. This suggests that while there’s short-term weakness, the overall trend is still upward.
The analysis identifies a demand zone between $2,735 and $2,728, with a possibility for a dip to $2,710, which could serve as another support level. Should prices stabilize here, a bullish continuation is likely.
If gold fails to hold above $2,728 on a 4-hour closing basis, a further decline toward the next demand zone between $2,688 and $2,672 may be anticipated.
An initial upward target lies in the fair value gap (FVG) between $2,756 and $3,772. Above this, the analysis notes supply zones between $2,782 and $2,790, with an all-time high (ATH) of $2,810 as the next major resistance.
The strategy is a combination of support-resistance testing and close monitoring of 4-hour candles. Stabilizing above the lower zones suggests a bullish rebound, while a failure could lead to extended declines.
EVERYONE SELL GOLD NOW!!!!!!!!!Gold completed +350pips from my posted signals idea on gold sell now again we have retest from the fvg with strong candle rejections from the premium fvg and confirming the sell entry is using spinning candle confirmation indicating a trend reversal am in on sell from this zone targeting new lows......
JOIN AND ENJOY
Tell us your views on this...............
Today's XAAUSD Targets: Maximizing Profit PotentialXAAUSD Trading Analysis
Today's Targets:
Target 1: 2755
Watch for price action around this level; it could indicate a potential reversal or continuation.
Target 2: 2765
This level may provide further opportunities for profit if the market momentum remains strong.
Target 3: 2773
Aiming for this target could yield significant returns, but ensure to assess market conditions closely.
Stop Loss: 2735
Setting a stop loss at this level helps manage risk. If the price falls below this point, it may indicate a shift in market sentiment.
XAUUSD: Based on Previous Analysis! **XAUUSD: 1-Hour Chart Analysis**
Hello Traders,
Based on our previous analysis, we had expected prices to reversed from our designated buying zone. And price did that exactly, reversing from 2625 which took the price towards 2771. Where we have seen some resistance. We still are very much bullish on Gold. Next targets are 2800$ and then 2900$ as followed.
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 signalling a strong bullish sentiment. Traders with open buy positions may consider holding them.
The market opened with a sell side gap on Monday, which does not invalidate our entry at all. Currently, the price is 400+ pips in the green. I recommend closing half of the positions.
Gold Roadmap==>>Short term!!!The recent CB Consumer Confidence and JOLTS Job Openings reports are both pivotal indexes for gold’s market reaction. A lower-than-expected JOLTS report , indicating fewer job openings, suggests possible economic slowing, which tends to support higher gold prices as investors look for safe-haven assets. On the other hand, if the Consumer Confidence Index shows strength, it can signal economic resilience, potentially reducing demand for gold as risk-on assets may become more attractive.
Gold ( OANDA:XAUUSD ) moved as I expected in ✅ yesterday's post ✅.
Gold is moving near the Potential Reversal Zone(PRZ) .
According to the theory of Elliot waves , it seems that we should wait for wave 4 of Gold in the 15-minute time frame .
Also, Regular Divergence(RD-) between Consecutive Peaks .
I expect Gold to decline to at least the Support zone($2,761-$2,756) and the Uptrend line .
⚠️Note: If Gold goes over PRZ, we have to wait for $2,800(at least)⚠️
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Gold breaks trend amid rising bond yieldsGold has finally buckled under pressure from rising yields and US dollar, with stocks also hit hard. Rising yields increase the opportunity cost of holding non-interest-bearing assets.
The precious metal has just broken its bullish trend line after failing to hold above key support at $2770.
It has subsequently broken the next support seen between $2753 to $2758, an area which could now turn into resistance upon a potential re-test from below.
While the long-term trend is clearly bullish, today's breakdown serves as a reminder that market can go up as well as down and that risk management should always be your number one priority in trading.
In light of the breakdown and given how overbought gold is on the long term charts like the weekly and monthly, I would be more inclined now to look for bearish setups near resistance, than bullish setups near support...until such a time that those RSI overbought conditions are worked off (either thru time or price.)
By Fawad Razaqzada, market analyst with FOREX.com
GOLD DAILY CHART SHORT/MID TERM ROUTE MAPHey Everyone,
Please see update on our daily chart idea that we have been tracking for a while with the updated retracement and swing range.
Previously after completing 2690 target, we stated that we had a candle body close above 2690, opening 2725, as ema5 was still lagging and that we got the push up nicely but just short of the target, which remained open for last week.
- This was hit last week completing this target!!!
We now have a ema5 cross and lock above 2725 for a continuation above with a gap open to 2760. Failure to complete this gap will see price test the retracement range for bounces and a further lock below the retracement range will open the swing range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
