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Gold Set to Form “W” Bottom Based on the current price action, there is potential for a “W” bottom to form. If this pattern plays out, today’s high should surpass yesterday’s 2626. However, if the price falls below 2690, the key support levels to watch will be between 2578-2573. I personally believe the probability of this scenario is low. Therefore, the strategy is to buy, but it’s essential to control position size and allow for some flexibility in case of unexpected adverse movements. Remain agile, seize the rebound opportunity, and manage risk effectively.
OANDA:XAUUSDLong
by Mia-Signal
BTC 4h-48 long forecastBTC looks very bullish on almost any timeframe. structure tells us we could have a pullback soon into unmitigated MB's which act as large SnD zones for those who dont know. MB's tend to have a high % of being mitigated before the long trend can continue. they get mitigated to cover the institutional shorts that made that last move down to liquidate any longs before the pump happened. Of course there isnt always a mitigation and this could very well continue upwards without any for of mitigation but that is something we shouldnt trade as there is very limited RR to capitalize on.
Long
by BreadFish
5
Is the bullish rally over?Gold continues to show upside potential, maintaining a bullish trend. It is currently supported around the 2731 level and may test resistance at 2758, followed by 2790. If it breaks through these levels, it could aim for a new all-time high around 2880. However, a drop below the 2731 support level would bring attention to the next support levels at 2708 and then a stronger support at 2685. Some indicators hint that a pullback might follow after testing these higher levels, signaling a possible shift toward bearish momentum.
TVC:GOLD
by adeelzahoor76
US30 Analysis in Elliott Waves - Anticipated Correction ScenarioUS30 Analysis in Elliott Waves - Anticipated Correction Scenario : Fibonacci extensions. This level often signals a potential reversal point, suggesting that a significant correction may be approaching in the short term. We anticipate a possible correction towards Fibonacci levels, around 23% to 38% of the third wave. The end of this third wave has also formed an ending diagonal, reinforcing the likelihood of a pause or reversal in the trend. Awaited Confirmation Signals To confirm the potential for a correction, several technical signals are in place: Divergences on MACD and RSI: A bearish divergence is present on these indicators, indicating a weakening of bullish momentum and increasing the likelihood of a trend reversal. Break of the Trend Line: Although the market is still in an uptrend, the break of this trend line would provide final confirmation of the end of the third wave and the start of a deeper correction. Monitoring this break is crucial before entering short positions. Price Action: On the weekly chart, a Bearish Engulfing pattern has already been observed, further supporting potential sell signals. Price Targets First Target (TP1): 38,418, a key support zone expected to serve as the initial correction target. Second Target (TP2): After a minor bullish correction, we could aim for the 33,735 area as the final target of this downward phase. After this anticipated correction, we’ll reassess the market to look for new buying opportunities if the bullish trend resumes.
CAPITALCOM:US30Short
by abdelkader22
XAUUSD: Head And Shoulders, Continue To SellYesterday, after experiencing a rebound, gold faced resistance again and pulled back, which is largely in line with our expectations, allowing everyone to achieve good profits. Currently, the short-term trend remains downward. As I mentioned yesterday, we are primarily watching the key support zone between 2718 and 2712. Today, gold touched this support area again and rebounded, but it did not break through the resistance of the downward trend. Therefore, our trading strategy continues to focus on selling. At the same time, we should closely monitor the performance of the support zone. If this support is effectively breached, I believe the subsequent decline could be significant, and breaking below 2700 is likely, with an expectation to reach below 2690. This encapsulates my main trading thoughts for the near future.
OANDA:XAUUSDShort
by Mia-Signal
Gold Trading Strategy: Continued Selling and Rebound ObservationAfter the rebound, gold has dropped again, now breaking below MA60, with short-term moving averages acting as resistance. I believe it’s prudent to continue selling today, with signals already shared at the market open—our regulars have already enjoyed some profits. With the current rebound, I recommend using MA60 and MA30 as reference prices for selling, targeting around 2712. We can then assess the market reaction before deciding whether to buy back in.
FOREXCOM:XAUUSDShort
by MichaeliaDefoe
Gold Trading Strategy: Focus on Selling TodayYesterday, we bought and made some profits, and today we’ll primarily focus on selling. The trading signal I released before the market opened suggests selling in the 2746-2752 range, with a TP set at 2738-2734. Some friends may have already traded based on the signal they received earlier; you can still join in. Gold is currently within the selling range, and if you’re looking to place this order, now could be an even better position. I will continue to monitor market trends, and any changes in trading will be communicated promptly. Stay tuned, and feel free to leave me a message if you have any questions.
FOREXCOM:XAUUSDShort
by MichaeliaDefoe
XAUUSD: Continue to be bullish, buy during pullback, target 2700Yesterday, our strategy was to wait for a pullback to the support range before buying. The direction and prediction were very accurate. The gold price pulled back from the initial 2680, the lowest was 2666, and then rose again to the historical high of 2685. Unfortunately, the lowest point of the pullback only reached 2666, which was only 1-2$ away from our buying range of 2665-2660. Therefore, I did not trade yesterday and missed a wave of nearly 20$ of rising profits. Now the gold price is still around 2680, and my view is still bullish, with a target of 2700. But there is indeed a risk of pullback if you chase the rise now. After all, the historical high of 2685 has failed to break twice, and you are not sure whether it will appear for the third time. Therefore, my trading strategy today is still to wait for the pullback to the support range before considering buying. Depending on the situation, the buying range can be adjusted flexibly.
TVC:GOLDLong
by AntonyTP
1
Gold shorts are not over yet, watch out for accelerated declinesThe September NFP data is good news for the market, giving the market more reasons to prepare for the latest inflation data. Last week's heavyweight employment report puts more pressure on this week's CPI data. If the data unexpectedly rises sharply, it is likely to cause market turmoil. After the blowout employment report last Friday, the importance of this week's CPI has been significantly provided. We have noticed that the US dollar has continued to maintain its upward momentum recently. It is likely to continue its upward trend before the release of CPI data. If there is a correction, it can only be after CPI. Therefore, the rise of the US dollar will bring continued suppression to gold. It can be seen from the figure that the gold price has repeatedly tested the low point of 2630 during the decline. I think 2630 is not a short-term bottom. It will fall below in the next two days. Once it falls below, you can see the support of the lower moving average near 2615. In addition, 2648 is the 0.382 position of the Fibonacci retracement. The pressure effect here has been verified many times before, so friends who are short can choose to sell here. My personal short position is currently in a state of substantial profit, but I will not close the position for the time being. I will continue to hold and expand the profit.
TVC:GOLDShort
by AntonyTP
Gold gonna bust a move for Q4 || 04.OCT.2024 - FOMC?!Goooood Morning Tradingview!! I am back! I'm glad to be back! I have missed y'all!! Let's dive right in!! Ok, starting from our bad mama-jamma, Monthly timeframe we can see XAUUSD is taking off! We are in an obvious bullish momentum creating new ALL TIME HIGHS each month, meaning we are in uncharted territory... YET Each week I have presented ideas that have played out more times than not. HOWEVER, Mistakes were made in my trade management. Alongside my business partner we've created a game plan that made sense to me and my trading style according to my trading personality or archetype - pretty INSANE I know! Buuuuuuuut back to today's trade. I am going to sit patiently and see which way price wants to move and when she does get ready for a big ol' heavy hitter *POW! I have my bias' for sure...PIPS OVER PROFITS!! If you've made it this far, thank y'all! Shout Out to the new follows! I am truly blessed! God bless y'all *Peace!
OANDA:XAUUSDShort
by MommaPreneur
XAUUSD: Will the decline continue after the conflict?Yesterday, the US dollar index rose for the second consecutive trading day, hitting a two-week high, supported by data showing the resilience of the US labor market and the dual support of safe-haven currency properties. It stands to reason that the rise of the US dollar index will suppress gold and cause it to fall. However, due to the sudden escalation of the geopolitical conflict between Iran and Israel, the demand for safe havens has been greatly boosted, resulting in a rare rise in gold and the US dollar together. The escalation of the geopolitical crisis in the Middle East has indeed greatly affected the direction of gold, but as of now, I don’t think gold supports the momentum to continue to rise sharply. Judging from the news, the rise in gold is due to the situation in the Middle East. If the situation in the Middle East eases next, or the situation is not as tense as the first day, then gold will still fall as it rose. Unless the situation in the Middle East will intensify in the future, and it will be more violent than yesterday’s conflict From the figure, we can see that the Fibonacci retracement of 0.618 from yesterday’s high of 2673 and today’s low of 2645 is 2655. As long as the rebound does not exceed 0.618, it is bound to fall to a new low. The short position I held yesterday suffered a slight loss due to the sudden outbreak of the Middle East conflict, but I added positions at 2655 and 2666 respectively, which increased the average price and is now profitable. In summary, I still have a bearish view, so I will continue to hold short positions.
OANDA:XAUUSDShort
by AntonyTP
XAUUSD- More of the same today?Gooooood Morning Tradingview 🌄 So for today, no surprise to anyone, I am staying patient 😌 what I would like to see is price reach back up to the orange 5m LQZ, preferably creating some form of structure like a flag, before entering. I do see more of the same, bearish momentum towards the Daily LQZ that never got touched this week. If I "miss" my entry no bjg deal. We have news for the rest of the week with FOMC this Friday- yay! 🤗 As we can see price is inside of a nice descending (parallel) channel - inside of a larger descending parallel channel. I can see price possibly pushing up to create that 3rd touch before melting, but this is a lot of speculation and (educated) guess work on my part. This is a good thing, knowing what to look for before entering. However, I am happy to stay out of the market today if need be to allow price to truly pick a direction. 🌟 As always PIPs Over Profits 💰 I love y'all ✌🏾
OANDA:XAUUSD
by MommaPreneur
1