XAUUSD - Bullish Reversal PatternAs the chart is indicating the double bottom reversal pattern and there is also a divergence.Longby mhamzasaeedm1
XAUUSD UPDATE 31-5-24Buy at :$2320-$2335🔺 Sell at" $2360-$2375🔻 The price of gold hovers close to $2,330, maintaining its position following a marginal decrease on Thursday. The momentum of the US Dollar shows signs of diminishing, lending support to the downside of gold. Market participants are keeping an eye on forthcoming US economic indicators and speeches from the Federal Reserve for insights into policy direction. During Thursday's Asian trading session, gold experienced a decline due to the strengthening of the US Dollar and an increase in US yields. Traders are awaiting the release of US Core Price Index and closely monitoring geopolitical tensions in the Middle East to gauge market sentiment. As predicted, the buying range of $2325 was achieved earlier on 30-5-24 at 10:00 hrs, followed by a correction to $2340.96 cmp $2349.56 31-5-24 at 18:06 hrs Longby sagaahheliteUpdated 3
Gold Trend Analysis on May 30th The gold daily line ended with a long negative line with a slightly longer lower shadow, which shows that the downward trend of gold is clear. Today is undoubtedly bearish, Therefore, we gave a short strategy of 2337 to our internal members in the morning session and entered the market to short sell in batches. The market is also as expected, rebounding to around 2340 in the short term and then began to fall. From the daily line, yesterday, gold was under pressure at the 2363 mark during the Asian and European sessions and then fell back, oscillating downward and breaking the bottom, showing a unilateral short-selling decline throughout the day. During the evening US session, the weak rebound continued to weaken after being under pressure at the 2347 mark. In the end, the daily K-line closed with a suppressed and falling middle Yin. The overall price ushered in a short-selling adjustment above the 2360 mark as expected, and the short-term technical indicators still showed a weak short-selling adjustment. From today's point of view, there is still room for further downward decline below gold. After the current low point of gold, the daily level is adjusted, and the 4-hour, 1-hour and 30-minute levels are all in a downward structure. Only the small levels of 15 minutes and 5 minutes will have a short-term rebound of 8 or 10 US dollars. Gold rebounded after testing the 2322 area in the European session. Pay attention to the short-selling opportunities in the 2337-2338 pressure area, and pay attention to the 2342 area. Continue to look at the 2320-2315 line below. The market fluctuates greatly. The 2300 US dollars and 2280 US dollars can be seen below the midline. Overall, in terms of short-term operation ideas for gold today, it is recommended to short on rebounds and to buy on pullbacks. The upper short-term focus is on the 2342-2347 resistance range, and the lower short-term focus is on the 2300-2303 support range.by MasterGoldTraderUpdated 1128
Gold forecastThis is the plan i can come up with, and key levels are aligned and confirmed with Fib retracement, retailers sentiment also supporting with Long position reduced from 40% to 26% which gives good liquidity. GoodluckLongby AuroraFX-TechnologyUpdated 4
GOLD - there is single area, hold or not?#GOLD.. so guys market very well hold so far your yesterday resistance area now as supporting area. keep close it that is 2340 it will be your key level now. if market hold it then further bounce expected above that level. only only short below that otherwise not. keep in mind guys below 2340 cut n reverse keep in hand. good luck trade wiselyby AdilHussain731333Updated 779
Update the latest gold price todayDear traders! Today's world gold price is listed on Kitco at 2,344 USD/ounce, up 7 USD/ounce compared to early yesterday morning. Accordingly, recently, traders' views have increasingly favored the scenario in which the Fed will keep interest rates higher for longer, increasing the opportunity cost of holding the yellow metal and creating Strong resistance level in price. In terms of the prospect of precious metals' upward momentum still remaining, it is forecasted that the price will reach 2,400 USD/ounce in the near future and increase to 2,500 USD/ounce in September, reaching 2,600 USD/ounce by the end of this year and increase to 2,700 USD/ounce in June 2025. However, if the PCE index rises higher than expected, it could cause gold prices to fall back to 2,300 USD/ounce or lower before strengthening again.Shortby ConanForexUpdated 6624
GOLD Trading Opportunity! BUY! My dear friends, Please, find my technical outlook for GOLD below: The instrument tests an important psychological level 2342.7 Bias - Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 2348.5 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. ——————————— WISH YOU ALL LUCK Longby AnabelSignals222
GOLD: First green day, end of the monthHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” 1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion) Monday DAY 1 Opening Range Tuesday DAY 2 Initial Balance Wednesday DAY 3 (reset DAY 1) Mid Point Week Thursday DAY 2 Friday DAY 3 Closing Range ✅ no cycle started yet 2. SIGNAL DAY First Red Day First Green Day ✅ 3 Days Long Breakout 3 Days Short Breakout Inside Day 3. WEEKLY TEMPLATE Pump&Dump Dump&Pump ✅ Frontside ✅ Backside 4. THESIS: Long: primary, after the market closed as first green day, it went in consolidation, this let me think about a potential major move happening today, remembering that is also end of the month. Short traders in profit since Tuesday, a long setup back to the HOW is my best scenario of the day. Short: secondary, lower low into the LOW, market pumped back up before starting a consolidation. I do not exclude a potential pump and dump scenario, going back down into the current LOW. Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni Longby GianniPichicheroUpdated 224
RESIST THE BULLS MNQThis the bull/bear flip zone for me. My bet is that we trade up to it for CORE PCE data. There is some Short Covering that needs to happen for next leg lower and attack the next pivot zone...Shortby Pogchamp99Updated 3
Sell Ideal - GOLD / XAUUSD GOLD / XAUUSD -------------------------- In anticipation of potential weakness in the asset, adopting a patient stance is recommended. While a final rally into the $2,400 range seems unlikely at this time, the possibility remains. However, in addition to remaining vigilant, being prepared to sell the asset is crucial. There may be an attempt to test the commitment of buyers who expressed interest at the $1,800 level at the end of February 2024, potentially supporting earlier buyers. If this scenario unfolds, the $2,000 level will be a key support protected by buyers. A possible strategy for shorting this asset is to sell upon rejection at the top of the local range (marked in purple on the chart) at $2,369 - $2,371, or when a bearish momentum candle appears, whichever occurs first, for an early entry. Heed your DD!Shortby FroggyFXUpdated 2
#ES_F Day Trading Prep Week 5.28 - 5.31Last Week : Last week Market opened over VAH and spent all week building Supply over it, as discussed in Sunday Prep since we were at ATH with no over hang we needed to wait for Supply to build up for any meaningful back fill of previous areas and that 5341 - 5290 might be our Range where price will want to stay around and keep returning into for some time while it builds that Supply. On Thursday we ended up pushing inside the Edge but failed to find acceptance in it and the push back out gave us the flush of the inventory filling the buyers into the Value, even with how strong the move looked with break/hold under Key Support on Friday Globex failed to hold under it and we found our way back inside 5341 - 5290 Range where we were able to push back into the Means for the Range where we closed the week in VAH. This Week : Few things this week, we have Month End, Settlement changes from T2 to T1 which we don't know just yet how that will impact the trading and we had Holiday yesterday which pushed us over VAH and we are again building up Supply over it. For now we are inside T2 Range which was Thursday I believe the change goes in effect Today or this week, we are right around Previous Days Range and 5341 - 36 already showed us this morning that it's acting properly as good Resistance. So far going into this week Thursdays flush showed us that don't have stronger buyers up here just yet who want to keep paying over Value and keep pushing us into new range above and that even with strong flush we didn't have enough Supply to accept under 5295 - 90 to continue filling more buyers into VAL. This tells me again that market may want to stay in this 5341 - 5290 Intraday Range and balance around it, we have to be ready to spend quite a bit of time in these areas and trade around them until market will show us clear acceptance and intensions of moving Ranges and that can take some time because we are in a Key Spot on higher time frames we are at tops of Daily/Weekly Balances without finding acceptance above and without having the Supply just yet to move under the Middle of those balances which is around the 5290-80s area. Plan is to continue trading 5341 - 5290 Range level to level just like last week with moves out of its 5324.75 - 20.75 // 5310.50 - 06.50 Means and then returns back towards/inside them. Failures to accept over 5341 - 36 will likely find their way back to/under 24.75 - 20.75, pushes under 5310.50 - 06.50 could also be absorbed under and find their way back to/over 10.50 - 06.50 and inside the Means we could balance. We are in lower volume times so also have to give time for the moves to properly set up and be ready to correct back. Levels to watch : Current Range 5341 - 5290.25 5341 - 36 Key Resistance 5324.75 - 20.75 // 5310.50 - 06.50 Means for the Range 5295.50 - 90.25 Key Support If Accept over 5341 - 36 next Range 5386.50 - 5336 5356 - 52 // 5370.50 - 66.50 Means and Edge Top 5386.50 - 81.50 Key Resistance If Accept under 5295.50 - 90.25 lower Range 5295.50 - 5244.75 5279.25 - 75.25 // 5264.75 - 60.75 Means and VAL 5249.75 - 44.75 Key Supportby HollowMnUpdated 1
GOLD LONG POSITION SETUP🔮FORTUNE'S OF BETLORD🤑 GOLD ANALYSIS✨✨✨ A simple break of structure analysis on the buy side.Longby dikorocz1112
XAUUSD 15-MINUTES TIMEFRAMEKindly remember, Elliott Wave is highly subjective, i will post if there's a new update on my perspective. Trade safe, Everyone! Cheers.Shortby MarioSianipar_Updated 10
short to 2292Hi traders would like to share my forecast for XAUUSD Hope you have profitable tradeShortby AziztvtUpdated 8
XAUUSD TENDS TO MAKE ITS PULLBACK TO THE 70'S As the second quarter of the year draws to a close and we anticipate the formation of the next six-month candle, we foresee a rally in gold prices towards the 70s. This upward momentum is expected to take hold before a selling pressure sets in, signaling a potential shift in market dynamics. follow for more insights , comment for more bias , and boost Akcapitals ✨by Ak_capitalistUpdated 3
GOLD (To 2369$) Fed's Inflation Measure Up 0.2% in AprilFed’s Preferred Inflation Measure Rises 0.2% in April, as Expected According to a closely watched measure released Friday by the Federal Reserve, inflation rose as expected in April, with markets anxious about when interest rates might begin to decline. The personal consumption expenditures (PCE) price index, excluding food and energy costs, increased by 0.2% for the period, matching the Dow Jones estimate. On an annual basis, core PCE rose by 2.8%, 0.1 percentage points higher than the estimate. Including the volatile food and energy categories, PCE inflation was 2.7% annually and 0.3% from the previous month. These figures were also in line with forecasts. Technical Analysis of Gold The price has stabilized in the bullish zone, particularly after the PCE result came in at 0.2%. The first bullish targets are 2364 and 2369. After reaching these levels, the price is expected to move between 2369 and 2354 until a breakout occurs. Volatility is expected to remain high until the market closes. Pivot Price: 2347 Resistance Levels: 2369, 2388, 2397 Support Levels: 2327, 2318, 2304 Today's anticipated trading range is between the support level at 2335 and the resistance level at 2397Longby SroshMayi3
Gold 31/5/24 below 2065 can look for shortGold 31/5/24 below 2065 can look for short Rejection below 2065 can look for sellShortby GoldInsightsHub3
Gold 31/5/24 consolidatingGold 31/5/24 consolidating No break above 2364 continue to shortby GoldInsightsHubUpdated 2
USOIL - Short or Buy? Break down or retracement up?Technicals 1. We have been stuck in a range on a higher time frame for quite some time now. 2. On a higher time frame we failed to confirm a break-up from a trendline dating back to March 2022, which was the COVID-19 highs. A failed break-up of this mega trendline is normally a sign of big reversal or retracement. & we did just that ;-) question is, is this a reversal or just a retracement because I see also a trendline from DEC 2023 which we trade just under. IMO we have not fully confirmed that break down. 3. Visible in my chart we see that we are since then on a big down sloping channel which is still respected. Fundamentals 1. My bias is slightly bearish long term because I think the US economy & other major economies will be in a recession which will give downside pressure on the price of OIL 2. Conflict in the Middle East seems to have not a significant impact as of now on the price of USOIL. Will this change? Till I see major escalation happening I don't see that it will have greater impact than it already has. US also is less energy dependent so therefor geopolitical will impact less. 3. Bullish sign is that OPEC is still holding strong on OIL cuts and China is still strong. Summer season will also give some upside pressure because of demand. Trade 1. The first trade, which is a buy option, I will take if I see buyers really taking over to push price up 2. The second trade, which is a sell, I will take if we confirm a break and retest of the weekly low. Great trading all of you Greetingz, Simba Tradesby Simba_TradingUpdated 557
SILVER On The Rise! BUY! My dear subscribers, This is my opinion on the SILVER next move: The instrument tests an important psychological level 30.4065 Bias - Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 31.0378 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCKLongby AnabelSignals1
XAUUSD TRADE SETUPWait for retest the entry level then take a trade for Sell otherwise skip this setupLongby JinnatAlamSumon0
copper speculation honestly copper looks great, big week of MRN up ahead, from a HTF POV looks like theyre starting to put pressure on monthly breakout traders. were currently in level 2 ofcurrent year's expansion. lets see how the week setups up. if i were you, id save your bullets for friday. from my experience, the days leading up to NFP are greedy days for insitutional money, if you get in great, but youre not meant to get in in the days leading up to it. if you struggle trading on NFP weeks, wait til friday. and AFTER NEWS!! the markets arent going anywhere, stop thinking youre gonna miss out. im guessing we will GAP DOWN below 4.50-4.45. and start trapping volume low.( if we want to continue this bullish momentum that came to a halt mid month ) , might even make it to 3.950-3.710 on the contrary.. which is why ill probably wait til the week unfolds. theres 3 days of breakout traders short from wednesday. theres also reason to believe they could come back to shake anyone out that had the direction right. my bias overall is long, just gotta find a setup to confirm my thesis Stay Sturdy traders!! thats the thing though. speculation isnt profitable. actually seeing how the market opens/closes, reacts, (timings , levels, behavior of price) seeing YOUR setup that makes YOU money, sitting on your hands, adding to winners, cutting losers short. just be patient. youll get a more in depth thesis as the week plays out. if youre not sure DONT TRADE IT "you cant make a baby in a month by getting 9 women pregnant in a day." Longby thesturdygentleman0