Gold Intraday Trading Plan 11/5/2024This is my prediction for today.
Gold likely will form a falling wedge, which signals buying continuation.
Today's bottom should be 2718 and top is at least 2748.
XAUUSDK trade ideas
Gold Market Update: Opening at $2736 with Supply Zone TargetGold opened today at $2736 and is expected to pull back, aiming to seek supply within the daily supply zone from $2743 to $2753. The $2753 level stands out as a potential point of interest (POI), where further market reactions could shape the next move. comment ,boost & follow for more insights .
More Bearish Moves In ComingAs the year draws to a close, we’ve seen gold maintain a strong bullish trend throughout. However, with the year-end approaching, banks, institutions, hedge funds, and other major market players are likely to start unwinding their long positions. This shift could create increased bearish momentum for gold from now until the end of the year.
For November, I expect continued bullish action as these institutions gradually reduce their long exposure, creating short-term buying pressure. After this phase, I anticipate a period of consolidation before price resumes a downward push.
If gold price consolidates around the 2760.00 level, I’ll be watching for an opportunity to short down to the 2680.00 range, which could provide solid support. Should price break below this consolidation pattern, we can expect a continued bearish trend to unfold. However, if price holds within the pattern without breaking lower, it may signal a continuation of the current upward movement.
Gold is in the bullish direction after correcting the supportHello Traders
In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET
today Gold analysis 👆
🟢This Chart includes_ (GOLD market update)
🟢What is The Next Opportunity on GOLD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
The world gold price suddenly went into limboMarex analyst Edward Meir said: "Investors are buying when gold prices are on the rise. This strategy was maintained throughout the US election because there was a lot of volatility."
Ms. Kamala Harris - Vice President of the Democratic Party - currently has a support rate of 46%, temporarily leading former President Donald Trump who has a support rate of 43%.
Gold prices rose more than 4% in October as investors poured money into safe assets, partly due to tensions in the Middle East and uncertainty in the US election. Markets are now focusing on the US nonfarm payrolls report for clues about the health of the world's largest economy.
Traders see a 95% chance that the US Federal Reserve (Fed) will cut interest rates by 25 basis points next week, according to CME's FedWatch tool. Zero-yielding gold thrives in a low interest rate environment.
Data just released US labor costs recorded the smallest increase in more than three years in the third quarter, while the number of Americans filing new unemployment claims fell to a five-month low last week. before.
UNSTAOPABLE FALL OF GOLD (NFP BEAR BIAS)The Gold Market experience a drop to the downside with investors taking out some profits yesterday. Now following up with fundamentals like Unemployment claims for the month of October, we looking forward to an increase in employment rate and decrease to unemployment rates therefore, the earnings for October should be higher as the big techs recorded huge gains.
Technical Factors remains bullish for the longer term, only a marginal drop not extending below 2700 then a push to the upside for the Christmas season.
NFP SIGNALS IN ANTICIPATION
Selling Gold with my Team and hold to the 2700 levels before we look for more buys to 2800 and 3000 respectively
Physical demand for gold is still strong?“Gold is basically ignoring a stronger dollar and rising Treasury yields,” Michael Armbruster, co-founder and managing partner at Altavest). He believes that indicates , primarily from central banks that are committed to dedollarization of their reserves.”
Similarly, Oxley pointed to speculation that the continued strength in gold is a “wider paradigm shift driven by BRICs+ central banks beefing up gold reserves to reduce reliance on the U.S. dollar,” he said. BRICs refers to an intergovernmental organization that includes Brazil, Russia, India and China.
But “perhaps the most convincing argument to ‘rationalize’” gold’s latest price moves is that they’re part of a “wider ‘Trump trade’ as markets adjust to a higher probability being assigned” to a U.S presidential election win for former President Donald Trump, said Oxley.
“If you’re worried about fiscal profligacy, financial repression and attacks on independence, gold would be an attractive asset,” he said.
However, ”When Russia and Ukraine negotiate peace, as well as Hamas and Israel, and China’s economy recovers, then there will downward pressure on gold prices,” said U.S. Money Reserve’s Moy.Needless to say, the idea of peace seems a bit far fetched at this time.
Gold can rise almost to resistance line and then continue fallHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see how the price entered to buyer zone and some time traded inside, and even tried to break the 2505 level. But later, the price finally broke this level and rose a little, after which made a small correction and continued to move up inside the upward channel. Some time later Gold rose to the resistance line of the channel, which coincided with the current support level with the support area, and then started to decline. In a short time, the price fell to the support line of the channel and then turned around and continued to move up. Soon, the price reached the 2680 level again, and now broke it, after which rose to the resistance line of the channel, and some time traded near. Recently, the price bounced down and now it trades a little below. So, I think that the price can make a small movement up and then continue to decline to the 2680 support level, where is locate my TP. Please share this idea with your friends and click Boost 🚀
XAUUSD See when to sell and when to buy.Gold (XAUUSD) has been trading within a Channel Up since the August 05 Low and since last Tuesday, the price action has turned sideways to the point that the 1D RSI is breaking today below its MA trend-line.
This is a break-out consistent with the start of the previous two Accumulation Phases of the pattern, but in order to confirm this we need the RSI to close the day below it. At the same time the price remains bullish as long as it is being supported by the 4H MA50 (red trend-line). If both break, it would mean that the new Higher High of the Channel Up is in and that the best action would be to buy near the bottom again (2,700).
If on the other hand the 4H MA50 holds and the 1D RSI closes above its MA, we will stay bullish, targeting 2800 and then reversing to a sell towards the bottom of the Channel Up.
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XAUUSD - Profit Taking as per usual by NY
The recent drop in gold appears to be a classic profit-taking move by algorithms using the latest economic data as a justification to temporarily drive prices lower.
Despite some stronger U.S. data, nothing has fundamentally shifted in terms of gold’s long-term outlook.
Fundamental Justification:
Inflation Stability: Core inflation indicators remain steady, reinforcing gold’s appeal as a hedge against inflation.
Interest Rate Expectations: The Federal Reserve is expected to hold rates steady, with markets leaning toward potential rate cuts next year, which is typically bullish for gold.
Global Uncertainty: Persistent geopolitical tensions and economic uncertainties still make gold attractive as a safe haven.
In essence, the recent pullback is more about short-term positioning rather than a change in the fundamental landscape for gold, keeping the overall bullish view intact with $2,790 as a reasonable upside target.
Target: Given the previous high of $2,790, we should expect a return to this level as per usuual.
Breakdown:
Fundamentals: 85/100 – Supportive due to inflation concerns, steady rates, and safe-haven appeal amidst global uncertainties.
Technical Outlook: 75/100 – Some short-term selling pressure, but the trend remains positive with a high likelihood of retesting previous highs.
The score reflects strong underlying bullish support with a high probability of a return to previous levels, though some short-term volatility from profit-taking will obviously persist.
Gold buy opportunityGold buy opportunity
Gold formed a double bottom, and re-touched
0.618 then followed a upward trend.
Therefore, buy gold when the price pull back
around 2735
SL: Below 2725
TP1: 2757
TP2: Higher
GOLD, XAUUSDTHIS ANALYSIS FOR "XAUUSD , GOLD" ON MULTIPLE TIME FRAME.
- Wait price come into zone then we BUY on the zone
- Set your Sl 27 - 35 Pips with your own risk
- Follow my TP target
Goodluck !!!
If you want more update on Gold, Xauusd. Kindly follow and like.
Feel free to comment my outlook and share with your friends. Thanks!
SHORT TERM PULL BACK - EXPECT BOUNCE TO 3,000 End of the month was text-book played and the market cut a chance of profits they've had all year long.
That does not mean the trend is over or there will be a change in major direction for gold.
Expect a short term bearish market illusion carefully designed by the algorithms and smart money, to induce sellers more and more.
Expect very "perfect resistance" levels being created (ENGINEERED LIQUIDITY), where retail sellers are going to be pacing all of their short stops (which are actually buy stop orders).
Once the market reaches a strong enough psychological level (I personally believe it's going to be 2600), than smart money will buy back all of the retail short positions to target all time highs above 2800.
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GOOD LUCK,
XAUUSD BUY IDEAmy view on gold, testing level of support 2732. a push above 2736.680 will signify a buy. Target is the next level of resistance 2762.555
Gold trading analysis, October 30, continuously updated...Dear gold investors
As shown in the figure
The rising trend from red point A to red point B is the most recent wave of gold trading. From the perspective of technical analysis, I record it as the beginning of the present
The significance of this trend is that the segmentation of the current market is convenient for us to accurately judge the future trend.
When we analyze the future trend for trading, the first thing we need to understand is what the trend of gold has experienced before the current wave of rise, and where it will most likely go in the future.
1: Red point A to red point B is the main rising trend of the previous wave, sorting out the upward outbreak point of the market at the position of red point C
2: The white channel is interpreted as the downward channel that may be caused by the retracement of red point B
3: The blue channel is interpreted as the upward channel of the current gold with a high probability
4: The orange parallel line is interpreted as the price blockage and stay relationship that gold is likely to experience now and in the future
5: The green line is interpreted as the central line of the oscillation, which means zoning and classification, because the oscillation starts with a wave of rising or falling market, and ends with the final exhaustion, thus going out of a new period of oscillation
The core theory of line analysis is actually the law of conservation of volume and energy. No matter how much money comes into the market, it will eventually go out in the future. Therefore, money, as kinetic energy, forms conservation fluctuations, which also forms the high and low echoes in the channel.
So next, according to technical analysis, gold stands firm near the orange C line of $2,748, which means the fulcrum of the current market. It also means a defensive point that cannot be ignored for all intraday transactions. At present, we see that gold has risen to around 2,785. In theory, the expected retracement of trend trading will rise to the range of $2,760-2,770. Next, we patiently wait for the retracement of gold and buy on dips.
KOG's RED BOXES - GOLDRed Boxes:
Break above 2755 for 2762, 2768, 2780
Break below 2742 for 2732, 2720, 2709
Many of us sit and wait for the perfect entry, I can tell you, unless you're scalping, this hardly ever happens. The key to get an entry is identifying your target region first! Once you have identified that target region, then start looking not for a precise entry, but a region or a zone you want to be testing your entry in. The skill is not getting in too early, and if you get in too late, you're usually going to be the wrong side of the market. So, use the bias and the red boxes, bullish/bearish above/below. Most new traders struggle with basic support and resistance or identifying zones; hence they’ll usually enter the market at the wrong time and place. This is where red boxes are really helpful, you can use them to identify key regions if you’re scalping or use the higher or lower ones for day trading and managing trades in-between.
KOG’s Red boxes are part of our strategy and are added to our targets to further fine tune our entries and exits. We also use them combined with our hotspots and Excalibur/LiTE targets to keep us in the right direction of the markets, allowing us to trade between the levels, scalp in ranges or in low volume periods as well as identify possible turning points on the pair we’re trading.
We’ve been using these now for a few years and they have proven to work extremely well when combined with our other strategy as well as a standalone strategy in itself, once you have experience. You need to have a plan and you will need to have basic knowledge of price action, you can add MA’s, indicators of your choice, and use these with your own strategy to limit your drawdown and identify when you may be in the wrong side of the market.
You will notice the boxes, just like usual support and resistance will give RIPs. Keep an eye on KOG’s bias of the day together with the targets as well as the analysis we share on the KOG Report updates. This will help you to make a plan for the day, then add the red boxes to your charts and hopefully you’ll notice a difference in your trading.
As always, trade safe.
KOG
Gold is following this range since 2014 in 12M tfHi , gold is following the range and if it continue to follow it we will have the range for next year also
will post my observation after some time , waiting for the closing of the year
greenish zone is showing the inside bar breakout zone of an inside bar and below is an inside bar zone
Good Market Structure vs Bad Market Structurewhen we learn autodidactically from the internet, we only know the basics, but in practice it is not that easy, this kind of understanding takes a very long time until finally you are taught by the market
therefore, my goal in making this is to share with all of you that market structure moves in various ways
hopefully this helps,
I will add the example as soon as possible
stay tune!
3 Entry Condition For Gold Waiting For NFP NewsBased on last night Gold heavy drop, I was looking at 3 entry possibility for Gold. From the current price, I am expecting to sell for lower low. Then I am expecting Buy until previous day Low - if you open D1 chart, you can see Bearish Engulfing, engulfed zone as possible supply zone. So the 3rd entry are based on D1 Bearish Engulfing.
Gold retest to MA 100, make double top and hit MA 200 laterMA 100 = blue
MA 200 = red
the circle = same pattern issue a mini divergence on RSI
1. stochastic still topped, that's why no signal to retest MA 100 yet
when stochastic reversal it will retest MA100
2. MA100 is quite strong (if still a bullish trend)
3. MA 200 will be retested in my opinion but lets focus on MA100 first because there is still higher high potential after bounce of MA100
GOLD WILL GO DOWN|SHORT|
✅GOLD broke the rising
Support, then made a pullback
And is going down again in
A long-awaited correction
So we are locally bearish
Biased and we will be
Expecting a further move down
SHORT🔥
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Gold Market Update: Imbalance Creates Pullback OpportunityAs gold prices reach the $2750 through the $2730 range, an imbalance has formed, prompting a daily pullback to seek additional supply support at2772. This correction phase could strengthen the market's foundation, setting up potential for renewed bullish momentum as the imbalance is addressed. follow for more insights .
