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GOLD / US DOLLAR GRAM

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XAUUSDG trade ideas

XAUUSD: Bottom of the Channel Up, RSI almost oversold. Buy.Gold turned bearish on its 1D technical outlook (RSI = 37.369, MACD = 1.240, ADX = 48.026) as is closed yesterday below the 1D MA50 for the first time in more than 4 months (July 2nd). The downtrend is the bearish wave of the May 20th Channel Up and is so far the strongest of the pattern. Technically Gold is a buy for as long as the 1D MA100 holds. Also the 1D RSI is the closest it's been to the 30.000 oversold level since October 6th 2023. Naturally that makes it a strong buy opportunity. Our target is the 0.618 Fibonacci extension (TP = 2,705). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope
XAUUSD IDEAXAUUSD after a false breakdown of 2546 forms a pullback and tests 2577. It is quite adequate reaction after such a strong fall. The fundamental background is still negative, and the dollar is accelerating its growth. Economic data from China increased economic concerns. Uncertainty about future interest rate cuts by the US Federal Reserve also continues to weigh on the markets, especially after Powell said that there is no need to rush to cut rates as the economy is still growing, the labor market is robust and inflation is still above the 2% target. Now we are waiting for -important retail sales report. Resistance levels: 2577, 2589, 2594. Support levels: 2546, 2536, 2500 At the moment, xauusd is hinting that the pullback up may be a bit continuing for a notably long time.
FXOPEN:XAUUSD
by FOREXRSMV
Gold Watch Monthly Chart FVG ReactionGold had a big positive line last month. The closing on the last day of October and the anticipation of the US election on October 31 triggered a decline. This decline is not a peak, but the combined effect of time, events, and structure; it is the November K on the monthly chart. The inevitable trend of the line: last month's big positive line, at the beginning of this month, the sub-level of the monthly line must have fallen. At present, the order block rebound at the key position of 2600 institutional fund buying needs to be observed for 3 days. Waiting for the weekly chart to close above 2600, it means that the next two weeks will be mainly bullish. As for whether 2790 will break through again before the end of the month, it doesn't matter. Sooner or later it will break. Last week, the 2644 order block rebounded and then fell to the key position of 2600, indicating that the level of the 2644 order block was not large enough to constitute a large-scale rebound. At the same time, the monthly line
OANDA:XAUUSDLong
by qwekjc
3
XAUUSD trading plan with focus on the 1D MA50.Gold (XAUUSD) is on the 2nd straight red day following Friday's rejection, which is in contrast to Thursday's promising rebound and green 1D candle it showed on the 1D MA50 (blue trend-line). Technically, as long as the 1D MA50 holds, the trend remains bullish within the 5-month Channel Up and our 2800 Target remains intact. As you can see, especially if we observe the 1D RSI fractals, it is a similar (a-e) sequence to the February 14 - May 01 2024 uptrend. Right now it appears that this is phase (e) on the 1D MA50 with the RSI in the lower levels of neutrality (almost bearish). If on the other hand Gold closes a 1D candle below the 1D MA50 (which will be the first time since July 02, more than 4 months), we will take the small loss on the buy and short instead, targeting the 1D MA100 (green trend-line), with a current Target at 2560 (but can change to adapt on the 1D MA100). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
3
Gold (GOLD/USD) at a Crucial Support LevelOn the daily chart, Gold (GOLD/USD) remains in a long-term ascending channel but is currently testing a critical support area around 2,550.00, following a significant retracement from the recent high of 2,800. This support level suggests a potential reversal or price stabilization, given its historical role as a strong technical barrier. Technical indicators also hint at a slowing of the recent bearish momentum, though signs of a continuation pattern may imply short-term selling pressure remains present. Technical Indicators TDI: The indicator reveals a bullish divergence, hinting that the bearish momentum might be losing steam. However, this could represent a corrective pause rather than a full reversal, with selling pressure likely to persist short-term. Key Levels: Support: 2,550.00 (lower bound of the ascending channel). Resistance: 2,658.00, with a further critical level at 2,800.00. Ascending Channel: Gold is testing the lower edge of this long-term channel, which has historically acted as a robust support zone, creating potential for a reversal. Sell at Resistance Rejection Entry: 2,650.00 Stop Loss: 2,700.00 Take Profit: 2,450.00 Risk-Reward Ratio: 3:1 Rationale: If the price rises toward 2,658.00 and encounters resistance, this could signal a selling opportunity, particularly if price action confirms a rejection at this level. A rejection would suggest that buyers are insufficient to drive prices higher, potentially resulting in a downward move toward 2,500.00. Gold sits at a pivotal technical point within its long-term ascending channel. Although the setup allows for channel-based trades, such as buying near support or selling near resistance, current bearish pressures present a more cautious outlook for buy entries. The most compelling strategy is selling at resistance (2,658.00), aiming to capitalize on bearish momentum if a confirmed rejection occurs. Monitoring price action on lower timeframes is essential for refining entries and adjusting to emerging patterns. Disclaimer: The information provided does not constitute investment advice.
CAPITALCOM:GOLDShort
by MrVNpt
Gold Correction Coming to an end? The Road to $3,000.00**KEY NOTES** - Gold has experienced a 9% correction - DXY is at the top of its current trend range at key resistance - 1HR/4HR Falling wedge (With 3 downward drives) Gold should catch support very soon for a push back up. I would expect when this happens we will see DXY start to retrace its current move also allowing gains on forex pairs against the USD. My key watches right now are the USD/CAD and GBP/USD Bear Divergence present on larger DXY charts. Starting to enter small positions as we could still move downward but I am starting to hunt the reversal. On the trend in the smaller time frames.
CAPITALCOM:GOLDLong
by Nicholas_k
TRADING JOURNAL 001 - ANNOTATIONS ON GOLDA short term view with annotations. The bear trap is only getting started. Any drop on price should now respect the "V" SHAPE format, where it only grabs liquidity below consolidation areas. Remember: retail traders CHASE the market, and they buy when a resistance gets broken, AND PLACE THEIR STOP LOSS BELOW THE CONSOLIDATION AREA... So, when price trades below the consolidation, IT IS NOT A BREAKOUT. .. it is a MANIPULATION to hunt for those LONG STOP LOSS ORDERS... (Liquidity 101). -- You might see price retest the 2610s range as more sellers come in thinking price is only making pullbacks. THAT WOULD BE THE BUYING OPPORTUNITY. You see a bigger ascending triangle forming. Once price trades back into the triangle, THAT IS ANOTHER BYING OPPORTUNITY. -- Risk management is your own responsibility. .. GOOD LUCK
ICMARKETS:XAUUSDLong
by PersaGold
1
Projected Gold Bottom Nov-Dec 2024: Key Levels & Support ZoneUsing Elliott Wave and Fibonacci analysis, I anticipate that gold’s 0.5 retracement level at $2,540, or alternatively the 0.618 level at $2,485, will act as solid support. From these levels, we may see a rebound to the 0.382 or 0.236 retracement levels, potentially lifting prices to around $2,600 or $2,675 in the B wave, followed by a corrective C wave. I expect the 0.618 level to hold, making a dip below $2,485 unlikely. There’s a slight chance of a deeper drop to the 0.786 retracement at $2,400, though strong buying interest is likely at that point.
TVC:GOLD
by Aishman