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This is how we will be trading XAUUSD. Full explanation.Today we will share a pending setup we have on XAUUSD Whenever the price has made content with the major support level around 1680, we have observed bullish impulses towards the following resistance levels. The extension of those impulses varies; however, the minimum distance was the last impulse (minor resistance zone). With that said, we expect a bullish movement towards 1950, with a break-even level (this means we move our stop loss to the entry point) on the mentioned minor resistance zone. From a technical perspective , the price has broken all the descending structures (you can count three) and is currently above a resistance zone, now working as support. Last week we defined the scenario we wanted to see before trading, and now that filter has been fulfilled, and we will proceed with our plan. On the 1H chart, you can have a better idea of the setup: Our stop loss Will always be below the full structure, and our entry-level will be above "B." If the price keeps falling, we will keep moving our stop loss until our risk to reward ratio equals 1.8. Beyond that, we will cancel the setup. The risk we will be taking on a setup like this is 3% of our capital on the stop loss, and the expected duration of the movement is between 25 and 35 days. The odds of this setup being successful is around 50% based on our historical track record. This is why it is so important to have Rist to rewards ratio ABOVE 1.8 Thanks for reading! Please share your view and charts in the comment box!
OANDA:XAUUSDLong
by ThinkingAntsOk
3
Gold Breaks DownGold has retreated from highs in the mid 1800's to support at 1836. This was a level we had been identifying for the past few reports. We are starting to see two green triangles forming confirming support. Gold had held the range between 1851 and 1876 for the past few days, and a breakout either way was imminent. The Kovach OBV has turned bearish, which was a good indication that a breakdown to lower levels was in order. We should see good support at 1836, but then 1826 and 1815 will provide support if this breaks. 1851 should provide strong resistance, if gold catches a bid.
COMEX:GC1!
by quantguy
Technical analysis update: XAUUSD (10th November 2021)Today gold broke above important resistance level at 1835 USD and reached temporary high at 1868.626 USD per ounce. Breakout above 1835 USD resistance is particularly bullish development for gold as we noted in our previous ideas. We anticipated this move for a while now; and we stated that once this resistance level was taken out, then resumption of an uptrend in gold would follow. We continue to mantain this notion and we are very bullish on gold. We will observe price action in the following days and we will look whether gold manages to stay above 1835 USD level which currently acts as short-term support. Our short-term price target of 1850 USD was taken out. Because of that we would like to change our medium-term price target of 1875 USD to short-term price target. Similarly, we would like to change long-term price target of 1900 USD to medium-term price target. Technical analysis - daily timeframe RSI is very bullish. We will observe it for strength to perform crossover into overbought territory. We expect such phenomenon to be accompanied by further rise in price. MACD and Stochastic are bullish too. DM+ and DM- also started to turn bullish. However, ADX signals that trend continues to be neutral. We would like to see ADX start growing as it would confirm resumption of an uptrend in gold. Despite that we are very bullish on gold and we expect price to continue climb higher. Gold broke out above the neckline of inverted head and shoulders pattern we showed previously: Neckline coincided with previous resistance level at 1835 USD (which now acts as short-term support). Technical analysis - weekly timeframe RSI is very bullish. It still has plenty of room for growth. MACD performs bullish crossover above 0 points which is very bullish. This could coincide with resumption of an uptrend of higher degree. Stochastic is also very bullish. DM+ and DM- are due to perform bullish crossover which would further bolster bullish case for gold. ADX is very low which is aligned with daily timeframe. Our previous idea from 8th November 2021 Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
8
DeGRAM | GOLD forecast for the week. Target - 1902Gold breaks out the descending channel and is in the long zone relative to the previously broken level. The price starts to roll back to the level, it is important that the price does not return to the trend boundaries. Important level - 1830. Strong support. I expect the price to test this level and consolidate above this level. The main target for this scenario is the resistance level of 1902 ------------------- Share your opinion in the comments and support the idea with Like. Thanks for your support!
OANDA:XAUUSDLong
by DeGRAM
3
GC Daily hit TargetGC Daily time frame hit the Fibonacci Limit. It will be a good idea to wait for a bearish pullback and look for buying ideas when the daily time frame is at a low price with a projected limit towards the next Fibonacci Extension. The GC daily time frame is in an up trend. The market is making higher highs and higher lows. The market just hit the daily up Fibonacci extension price point 1871.6. According to the research the market has a high percentage chance of forming a high price and pulling back. It will be a good idea to wait for the market to pull back near the daily up trend line before turning to the one hour time frame and looking for buying ideas.
COMEX:GC1!Long
by JoshuaMartinez
3
My filter before developing setups | Gold FuturesToday I will share the filter I have before taking a new setup on the precious metal. The key idea here is that every time the price was on a bullish trend, we observed clear corrections on the way to the final target. We have defined all the cases; we will trade case 4 using the three previous situations as models. The main characteristic we observe once the price takes inertia in our expected direction (bullish) is to observe corrective patterns from 4 to 9 days before the new impulse. So what I did was look at them on the 4HS chart with the idea of having an objective parameter to execute setups on all of them. CASE 1: CASE 2: CASE 3: As you can see, all the structures show an ABC pattern that helps us define the exterior edge of the structure. Once that is clear, we can define pending orders above B and set our stop loss below C. What about the target? In the previous scenarios, all of them reached a target with a 2.5 risk to reward ratio except for the last case that reached 1.8, and then we saw a total reversal. In this scenario, our final target is around 1960, with a risk to reward ratio of 2.3 The only place where we may observe reactions is on the previous resistance level of the previous trend. That may be a place where we want to protect our setup, moving our stop loss to break even. The expected duration of this setup is less than 25 days once it is executed The risk I will be taking is 3% of my trading capital on the stop loss. Thanks for reading! feel free to add any idea or chart about this setup on the comments
COMEX:GC1!Long
by ThinkingAntsOk
6
DeGRAM | GOLD forecast for the week. Target - 1902Gold breaks the downtrend for the first time and tries to reverse the global downtrend. An impulse of 2.2% of the price is a fairly strong move, which indicates a positive bullish sentiment. I think that after a strong movement there may be a rollback to the previously broken support level and continued growth. Ahead of gold is a key strong resistance level of 1902, which is very important for a huge number of traders. I am determined to expect the rise in gold. ------------------- Share your opinion in the comments and support the idea with Like. Thanks for your support!
OANDA:XAUUSD
by DeGRAM
9
GC +400 ticks, one hour time frameThe GC one hour time frame is in an up channel. The market is at the top of the channel. The research says it will be a good idea to wait for the market to either fall towards the bottom of the channel or break above the channel before looking for the next long idea. Entry: Counter trend line break bullish either at the bottom of the channel or above the channel. STOP: In the sell zone zone. LIMIT: If entry is at the bottom of the channel. The limit will be just under the top of the channel. If entry is above the channel. The limit will be 1871.6. Once or the market provides an entry. It will be a good idea to turn to the five minute time frame and look for tunnel trader long / destination trader long ideas towards the one hour limit.
COMEX:GC1!Long
by JoshuaMartinez
2
gold way for next 7 day as we predict on friday start , gold frist go down touch 1hour support then fly up , now it must go down and touch breakup trendline then if cant break will go to 1830 trend line (if pink break gold will go to touch sma200 daily) in green arrow we can buy with SL=6.00$ or 1786 (for inter buy wait in 15 or 60 pinbar comes or it break 15 or 5min last trend line or last high) as predict friday morning ,NFP comes good,why gold go up !!!!?? dollar index go down on news FED not tapering(not increase rate soon) (eurusd is near big support , goes up , push dollar index down ) but be carefull very good NFP down pressure can push gold down this week !!!!!!! (dont inter buy in high wait low comes around 1805 and 1790 fibo 50%) www.reuters.com COT data(banks and fund money managers on gold futures , big banks have net 215000 lot buy prnt.sc
FX:XAUUSDShort
by ramin_trader2006
5
Gold Tests Key Value AreaGold has broken through 1795, and is currently in the value area between 1795 and 1815. We are seeing several red triangles on the KRI suggesting we are facing some resistance, so if we cannot solidify current levels, than expect a retracement back to the 1780's. we will have further support at 1789 then 1784. Recall that gold tested 1759 just two days ago, but we should find support at levels above this. The Kovach OBV is still pretty weak so a retracement from current levels is likely unless we can muster the momentum to break higher.
COMEX:GC1!
by quantguy
2