Gold on strong corrective ABC move up Gold is moving upwards to correct previous downfall to 2536. This move is very strong and is contained in narrow channel. You can expect two more legs of this move up to above 2700 area.
XAUUSDK trade ideas
Gold Eyes $2,745 Amid Bullish MomentumGold (XAU/USD) continues to show bullish momentum, currently trading at $2,681.58, as it recovers strongly from the recent downward channel. The price is approaching the immediate resistance at $2,706, a key level that, if broken, could pave the way for further gains towards the major resistance zone at $2,746. This orange-marked zone is critical, as a breakout above it would confirm the continuation of the uptrend.
In case of a pullback, the green support zone between $2,635-$2,647 offers a strong demand area where buyers may re-enter the market. A retracement to this level could provide a good buying opportunity before the price resumes its upward trajectory.
Traders should monitor the price action around $2,706 closely. A successful breakout targets $2,746 and potentially higher, while a rejection might lead to a pullback to the support zone. Overall, the bullish structure remains intact, and gold appears poised for further gains in the coming sessions.
XAUUSD-RebornXAU/USD Technical Analysis Report
Date: 21-11-2024
Summary:
Our analysis suggests that XAU/USD has completed Wave A of a corrective downward move from $2790 to $2536.85, representing a drop of approximately 9.0%.
Technical Analysis:
Daily Time Frame
Wave Count:
- Wave A: Downward ($2790 - $2536.85)
- Wave B: Upward ($2536.85 - $2730)
- Wave C: Downward ($2730 - $2258)
Chart Pattern:
- Descending Triangle
- Flag Pattern
Indicators:
- RSI (14): 40 (Oversold)
- MACD (12, 26): Bearish crossover
- Moving Averages: 50-day MA resistance
Candlestick Patterns:
- Bearish Engulfing
- Dark Cloud Cover
Key Levels:
- Resistance: $2730, $2850
- Support: $2536.85, $2450
Conclusion:
Wave A's completion indicates a potential upward correction in Wave B. Our analysis suggests targeting $2700, followed by a downward move in Wave C to $2258.
Recommendations:
- Short-term traders: Consider buying at $2536.85, targeting $2700
- Long-term investors: Monitor the $2258 level for potential buying opportunities
Risk Management:
- Stop-loss: $2450
- Take-profit: $2700
Disclaimer:
This report is for informational purposes only and should not be considered investment advice.
XAU/USD bullish trendXAU/USD is in a big bullish impulse, took an entry after a lower time frame accumulation. Let's see if the uptrend continues or the small imbalance getting filled before the second up move.
Or the market shifts and takes me out :)
Global Conflicts and commodities.Gold climbs for 4th session of $2660 per ounce as investors sought safety in the metals as geopolitical uncertainty intensified with escalating Russia Ukraine tensions.
Global conflicts, like the ongoing Russia-Ukraine war, are driving volatility in commodities markets. Precious metals like gold, silver, and platinum have become safe-haven assets, attracting investors during uncertain times. Rising tensions often push their prices up as demand for stability grows.
In my chart 2654 is last zone for by which is already cross above. 1-H supply is frm 80 to 75 in extension if breaks then 2700 is near.
Asad iqbal khan
Neuron Markets
XAUUSD remains within an ascending channelTechnical Perspective:
On the daily timeframe, XAUUSD pared recent losses. The price is approaching the 2700 resistance, where a reversal below this level could prompt a decline toward the ascending channel's lower bound and 2520 support. Conversely, a break above 2700 could lead to a further rise toward its record high near the 2800 resistance zone. The price also holds above the Ichimoku Cloud, indicating the potential for further gains.
Fundamental Perspective:
Gold prices have recently recovered, rising above 2650 USD per ounce, driven by a flight to safety amid increasing geopolitical tensions, including the escalation of the Russia-Ukraine war.
Additionally, markets are focusing on the Fed's upcoming rate decisions, with a slight majority anticipating a 0.25% rate cut in December. Lower interest rate prospects would reduce the opportunity cost of holding gold, a non-yielding asset. However, concerns over inflation have led investors to trim expectations for aggressive rate cuts in the coming months. While gold remains attractive during periods of crisis, risks of prolonged Fed tightening could temper its upward momentum.
Gold Market Analysis and Strategy
Gold prices continue to fluctuate around the 2640 level. The initial short position has already reached the target of 2622. Currently, prices are rising again, and it is expected that the previous high of 2641 will be broken.
Trading Strategy:
Long Opportunity:
Close around 2645
Short Opportunity:
Alternatively, wait for the price to rise into the 2646-2655 range, which is anticipated to serve as a resistance zone, before opening short positions (selling).
Expected Target:
For the short position, a potential downside of approximately $19 is anticipated, targeting a drop back to the 2627-2636 range.
Gold continue down trendObserving today's sharp correction in gold prices, from an Elliott wave analysis perspective, we have completed wave 4 and are now poised to embark on the 5th wave, provided the price closes below 2614 as confirmation. The stop loss for this scenario is set at 2645.
The targets are 2595, 2575, and 2555.
Subsequently, we require confirmation of a close below 2542 to achieve the final target at 2483.
(If the price closes below 2614, consider the stop loss at 2645.)
GOLD Bearish to SupportI think gold will reject the resistance level and go back to previous support.
XAUUSD SELL PROJECTIONHey guys at the start of the week we were interested on taking sells from 2640 level but price broke through and we had to wait for another entry which is now 2648 zone waited for price to retest there and it did that and also gave us a confirmation now which is that bearish engulfing candle please use proper risk management and let’s see how it goes…..Risk to Reward is 1:3…
Short Gold IdeaAs i see there is no buy signals for gold i expect gold more down to 2613 and 2603 today
FVG broken and big candle close below the FVG
The volume are decreasing which confirm more down for gold
Gold next move comming in this direction #xauusdHello trader's
how was trading going on these days in gold
Now first comment down if you catch this buying level from bottom
And Follow my page for more updates on gold and bitcoin.
Gold bullish scenarioThe price of gold has a chance to return above the $2600 level this week. During this morning's Asian session, gold managed to break through the previous movement zone and form a new higher high. We are currently testing the EMA 50 and hoping for a continuation to the EMA 200 in the $2620 zone.
XAU Bull FlagHey guys, I see XAU could potentially move upwards from now till London session after breaking above 4TF Breaker block and retest 2618.74 and move towards 2640 zone. Trade Smart, Trade safe FXOPEN:XAUUSD
XAU ! Nov 18 ! Short recovery 2614XAU / USD trend forecast November 18, 2024
Traders reduced their expectations for rate cuts in December after Fed Chair Jerome Powell stated that the US central bank was in no hurry to lower rates, citing the "remarkably strong" performance of the economy. Elevated interest rates tend to weigh on Gold prices, as they make non-yielding assets like gold less attractive.
Conversely, escalating geopolitical tensions in the Middle East and the ongoing conflict between Ukraine and Russia could support safe-haven demand, bolstering the yellow metal. According to Reuters, President Joe Biden's administration has authorized Ukraine to use US weaponry for strikes inside Russia, marking a significant shift in Washington's policy regarding the Ukraine-Russia conflict
Short-term recovery - liquidity sweep of resistance zone 2597 - 2614. Downtrend still dominates long-term
/// SELL XAU : zone 2614-2617
SL: 2622
TP: 50 - 100 - 200pips (2597)
Safe and profitable trading
GOLD XAUUSD Buying 2582 - 2576#XAUUSD (Update)....!!
Looking for buy only |Long
Hey Traders, Today we are monitoring GOLD for a buying opportunity around 2582 - 2576 zone, once we will receive any bullish confirmation the trade will be executed....!!
Good luck Guy's.....
xauusd-1HConsidering the channel ceiling being reached and the overall downtrend, it seems we will witness a decline.
#xauusd #elliottwave short sell setup wave 3 25Nov24This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
xau/usd analysisHello,
This is an analysis of Gold for the current week.
Considering the full-bodied nature of the daily candlestick, the likelihood of an upward movement is very high. Therefore, in the event of a price correction, the first support level ahead is at 2711.4. With proper risk management and a stop-loss in place, we can take a low-risk long position.
This analysis is brought to you by the FXonbit Traders Team
NEW IDEA FOR GOLD#GOLD
Increasing geopolitical tensions could lead to an increase in gold
By examining the trend in the one-hour timeframe, gold has an important support range in the range of 2663-2633, and now, given the rate being above the bullish Kumo cloud of the Ichimoku indicator, there is a possibility of an increase in price.
Overall, this scenario is strengthened that the rate can increase to the resistance of the upper range of the Bollinger Band indicator in the range of $ 2822, provided that it maintains and does not record any one-hour candlestick close below the important support range in the range of 2663-2633.
Weekly Analysis on Gold For next week trading journey i will still look for possible buying opportunities but if candles start closing below the red line then thats the time i will look for possible sell trade opportunities.
GOLD RISKY SHORT|
✅GOLD is going up now
But a strong resistance level is ahead at 2720$
Thus I am expecting a local pullback
And a move down towards the target at 2683$
SHORT🔥
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GOLD Short scalp 22/11/24Gold has run up massively due to international tentions. Currently the 4hr high at 2710 is being respected. Tentions between Russia and Ukraine peaked as Russia deployed icmb's and the only logical perspective is that Russia was never bluffing with its threats to Nato. Going forward we can assume that leaders will want to deescalate as opposed to being blasted in nuclear hellfire. This should bring in a bear influx to gold.
