XAUUSD SHORTA head and shoulder pattern is forming on Gold, A break below the neckline would trigger a sell. my target is 2675.00 .
Let me know what you think in the comment section.
XAUUSDK trade ideas
Gold still in up trend As indicated by the chart, we are still in an uptrend, aiming to complete wave 5. My target is 2772, with the best entry point ranging from 2732 to 2728. The stop loss for this scenario would be if the price closes below 2724.
Confirmation for the continuation of the rise is a close above 2752.
Gold Analysis XAU/USD – Potential Reversal Zone and Bearish Opportunity
Gold's recent price action on the 1-hour timeframe shows a key formation with multiple swing lows (highlighted in orange), suggesting potential liquidity grabs followed by a bullish retracement. However, the price is now approaching $2,748, which aligns with a significant resistance zone (purple box).
Key Levels and Analysis:
Resistance: $2,748 – This area marks a critical supply zone where selling pressure may increase.
Support Zones:
First support: $2,720
Second support: $2,710 – If the downward move continues, this is the primary target for bears.
Trade Idea:
Sell Entry: Near $2,748 if rejection confirms with bearish candlestick patterns.
Target: $2,710
Risk: A breakout above $2,748 would invalidate the bearish setup.
Risk-to-Reward:
Potential downside: -1.42% (-39 points)
If rejection occurs, we could see a move toward $2,710, offering a nice scalping or intraday trade opportunity.
Gold Bullish PlanOur Gold Previous Plan Delivered as Expected, Target Missed by Just 2 Points, You can Check in Profile.
There is Two Level I am Looking Long on Gold
Today GOLD Outlook With Classical Technical AnalysisAs you can see, the price looks like want to go higher but we can't forget that there was a very strong drop last week, then today we know that the market is make bullish structure but with a correction pattern, so I would expect it to go down first to the RBS (resistance become support) area
Let's see, it's just about probability
I would say 70% it will potentially go down and 30% it will go up
Short position on GoldGold seems to be in a correction phase and a breakout to the downside from what appears to be a bear flag pattern has occurred. A short position was taken upon retest of support. Entry price, take profit and stop loss are as seen in the trade idea.
Stay safe and happy trading guys!!
XAUUSD: Key Support and Resistance Levels"I have analyzed the XAUUSD trading scenario and established some key levels that I believe will be crucial for today’s market movements.
Support Level: I have set the primary support level at 2732. This level is significant because if the price breaks below it, we can anticipate a further decline towards the next support level at 2727. This drop could indicate a bearish trend, and traders should be cautious if this support is breached.
Resistance Level: Conversely, I have identified a resistance level at 2752. This level could serve as a barrier for upward movement. If the price approaches this resistance, it may struggle to break through, and traders should watch for potential reversals.
Targets for Today: My primary target for today is to see if the price can hold at 2732. This level is critical for maintaining bullish sentiment. Additionally, I have a secondary target of reaching 2752. If the market can achieve this, it would suggest a strong upward momentum.
Sell opportunityGold (XAU/USD) currently presents a lucrative Sell opportunity at $2753.00, with compelling potential for profit targeting.
Targets:
Primary Target: $2710.00
Breakout Scenario:
Should Gold surpass the $2770.00 threshold, indicating a Bullish breakout, the target price is forecasted to reach $2800.00.
Technical analysis suggests a strong Selling sentiment at the current price level.
Market dynamics indicate downward pressure, aligning with the proposed Sell strategy.
Risk management strategies should be implemented to mitigate potential losses in case of unexpected market shifts.
Disclaimer: This analysis is based on current market conditions and historical price movements. Traders are advised to conduct their own research and consider risk management techniques before executing any trades.
XAUUSD : Bullish pennant continuation pattern.XAUUSD Analysis:
Gold has recently reached an all-time high of $2758.944, establishing a significant resistance level at this point. According to price action, a bullish continuation pennant pattern is visible, suggesting the potential for further upward movement. With the neckline already broken, a buying opportunity may present itself upon a confirmed breakout above this high. In such a scenario, the target could be set at $2800, with a recommended stop loss at $2738 to manage risk effectively.
However, if the resistance level holds without a breakout, a decline toward $2719.214 is possible. Given the current geopolitical tensions, an increase in volatility could drive gold prices higher, so monitoring this is essential. Additionally, this week’s key economic releases—including JOLTS, GDP, and NFP—may also influence gold's price action significantly.
This analysis is for educational purposes only and does not constitute financial advice.
Gold waiting for new waves: The opportunity to grow this weekHello everyone,
What are your thoughts on gold prices? Let’s discuss and strategize together today!
Looking back at last week, despite facing strong profit-taking pressure after reaching a new record high, gold demonstrated its resilience and ended the week around $30 higher than the previous week’s close. As of early Monday, it is trading near 2733 and performing well within an upward channel on the 1-hour chart.
Key factors impacting gold this week: Gold prices are expected to experience significant volatility this week as the market anticipates several crucial data releases, including the U.S. jobs report on Friday morning. Currently, economists predict 140,000 new jobs for September, a notable decrease from August’s 254,000. Investors are also watching for Q3 growth data, pending home sales, the Bank of Japan's monetary policy decision, core PCE index, personal income and spending for September, and weekly jobless claims. These data points will provide investors with more clues about the Federal Reserve’s future monetary policy direction, which could impact gold’s trajectory.
Outlook for XAUUSD: On the 1-hour chart, as Ben mentioned earlier, XAUUSD currently has strong support around the 2725 level. A break below this level could lead to a significant price drop, while maintaining it would support further gains. Upon close observation, it’s evident that the pair is gaining upward momentum from the trendline, and a recently opened gap has bolstered buying sentiment. If the upward momentum continues, the next resistance targets for XAUUSD are 2747 and 2758.
GOLD IS GOING TO FALL GET READY SELLHello trader , What do you think about Gold ? Here on Gold price has try to form double to around psychological level of 2755.000 and is likely to drop down to another psychology level so trader should go for Short . Remember to like and share your thought on comment !
XAUUSD Faces Downside Risk as Head and Shoulders Pattern BeginsIn my view, a head and shoulders pattern may be forming on the chart with:
The left shoulder is at the top near $2,755, reflecting initial buying pressure.
The head peak is prominent at $2,740, indicating strong but waning buying pressure.
The right shoulder is forming with a peak close to the right shoulder at $2,755.
If the price breaks below the neckline around $2,721, the pattern will be complete. This could lead to a deeper decline, signaling an approaching downtrend. I will monitor further for confirmation.
XAUUSD Long position
XAUUSD Plan day (29/10/2024)
SELL Gold zone: $2769 - $2771
BUY Gold zone: $2719 - $2722
Good luck traders!!!
XAUUSD Waiting for Rising Wedge BreakoutBased on the chart of XAUUSD, I see an ascending wedge pattern forming, with the possibility of a strong price increase upon breaking the resistance. The EMA(34) and EMA(89) are still below, supporting this uptrend. If the price continues to stay within the wedge pattern and then breaks above, we can expect a strong increase to the $2,800 area or higher.
H1 (H4) - Probable Next Move. {10}Trade Reason:
1. H1 Order Block,
2. D1 Regular Divergence.
3. H1 Long Time Menupulation.
Hello Friends!
I hope it will touch the "2748.444" level then it can make some corrections. After her correction, it has more chances to touch the "2729.351" level. But if it create counter setup, then close it instant.
Do you have any questions, suggestions, or feedback? Then write a comment or private chat. If you need any help, info, or analysis. Then knock me without any hesitation.
…Thank you…
Gold continues to riseDear traders, we bring you better trading strategies every day. We hope you will leave your support after watching.
After CPI and the number of people receiving unemployment benefits, the US dollar index rose and fell, and gold rebounded upward, allowing the previous weak pattern to continue to return to the range operation. In addition, based on the fact that there was no excessive retracement in the early morning, it rose again to test around 2631. It is difficult to have a large downward space for the day, which increases the demand for continued rebound. In the previous trading day, we first looked at the rebound around the bottom support of 2604, and then looked at the downward trend twice around the top low position of 2624. After three highs of 2624 in the late trading, we did not enter the market again, and finally broke through 2624 and went higher. This round of correction is likely to stop at 2604.
Gold has touched the 2600 mark many times but failed to break down successfully. At present, the one-hour market trend has reached 2602 three times and has been pulled up. The support effect of 2600-2602 is obvious, and the gold pull-up has broken through the previous 2624 suppression. In the short term, it will continue to climb upward. In terms of operation, we will mainly do more. In the 4-hour chart, the stochastic indicator crosses upward, indicating a bullish trend. The 4-hour chart has not formed a dead cross yet. If the dead cross crosses downward, the gold price can fall. At present, the gold price in the one-hour chart is running above the moving average. The moving averages have overlapped and are about to form a golden cross, which is basically a done deal. This will inevitably boost the bullish momentum. Today, pay attention to the support of 2625-2620 below and the pressure of 2650-2660 above. In terms of operation, the callback is mainly bullish.
Gold fluctuates and falls from high levelDear traders, you need to be cautious when trading, and set SL and TP for every transaction. This will better protect your account from being trapped. I will continue to update the gold trading strategy.
Technical analysis of gold: Gold closed higher with a small positive line on the daily line, and continued to rise for five consecutive days, but they were all small positive star K lines, without a high-level volume movement, and belonged to a slow and high-shrinking movement. In the short term, the volume is temporarily insufficient, and the US dollar is also strong, which limits the momentum of further volume of gold prices. Gold was only a line away from a new high yesterday, and fell under pressure. Today, gold is particularly critical. If it breaks through a new high, then gold will rise again. If it falls under pressure again, then gold will start a large correction.
In terms of today's short-term operation ideas for gold, Jin Shengfu recommends rebound shorting as the main, and callback long as the auxiliary. The short-term focus on the upper side is 2682-2685 line resistance, and the short-term focus on the lower side is 2638-2640 line support. Friends must keep up with the rhythm.
10-28-24 XAU Trades1st trade: Last friday position on bb 2H, opening candle immediate TP hit.
2nd trade: pull back entry on bb 30m but checking on the lower tf 5mins still no buying pressure also early to pump. manual exit.
3rd trade: create a bullish sentiment, pullback entry for bb 30m. tp area on the gap opening candle.
4th trade: multiple entry on gap opening. manual tp due to not breaking the immediate low.
GOLD FOLLOW UPWe are still following this guy, he opened market with a gap and a bit of consolidation, we now see a compression in form of pennant which we believe might be a continuation pattern which will catapult us to the selling zone which is the QML - Fakeout Zone
Xauusd Going Down Gold holds on to modest intraday gains but trades below Friday’s close and within familiar levels. XAU/USD daily chart shows moving averages keep heading north far below the current level, with the 20 Simple Moving Average (SMA) accelerating higher, in line with buyers’ dominance. Technical indicators, on the contrary, offer neutral-to-bearish slopes holding within positive levels.
Gold Out lookWe have a mixed overview on gold as todays market opening has gone against our anylisis but as i always say no one is perfect in this market there is a probability Rati in this game so we are still bullish over gold but as gd is moving in a Minor 1H channel and has is consolidating in the channel we will be looking for buys when the pair breaks the channel above and currently its moving to its 4H Support level if price rejects the level and moved back and breaks above the newely formed resistance level of 2740-44 we will seek a bullish position as the price is consolidating we are bearish to 4H Support
