GOLD trade ideas
XAUUSD- Bearish Trend Bearish Indicators:
1- Market is taking correction from Fib level of 0.5
2- Formation of hanging man with tweezer top candle stick pattern
3- Series of LH and LL along with trend line
4- Market in sideways, seems like it will break the pole and as per projection it will take bearish move.
CPI DATA RELEASE(Gold against the U.S. Dollar) points to potential further declines in the short term. Based on recent data, are strongly bearish, with a general recommendation of "strong sell" across various time frames. Key indicators, including the Relative Strength Index (RSI), Stochastic RSI, and MACD, show oversold conditions, indicating strong downward momentum. This is further supported by moving averages, where most periods favor selling signals.
Gold recently faced resistance around $2,626 and experienced a drop to the $2,590 level, impacted by broader USD strength and market volatility. However, if the price closes below the current support, we may see further declines towards recent lows, with potential support levels near $2,550 or below.
It’s important to keep in mind that external factors, like inflation expectations and Federal Reserve policies, could also impact gold’s trajectory.
Disclaimer: I am not a financial advisor, and this information is not financial advice. Always conduct your own research before making any trading decisions.
Gold Correction Coming to an end? The Road to $3,000.00**KEY NOTES**
- Gold has experienced a 9% correction
- DXY is at the top of its current trend range at key resistance
- 1HR/4HR Falling wedge (With 3 downward drives)
Gold should catch support very soon for a push back up. I would expect when this happens we will see DXY start to retrace its current move also allowing gains on forex pairs against the USD. My key watches right now are the USD/CAD and GBP/USD
Bear Divergence present on larger DXY charts.
Starting to enter small positions as we could still move downward but I am starting to hunt the reversal. On the trend in the smaller time frames.
29rr XAUUSD TRADESeen a 1h Choch,
swept liquidity,
saw a 1min choch,
aim for asian high.
partials at 5rr, 10rr 15rr.
lets see how it goes.
Strong buying area 2609Gold will be bullish after crossing level of 2609
Use SL as per your strategy
Note: This is not a buy/sell call.
Wave A correction on Gold is completeGold finished it's supercycle wave 5 at 2790 and pulled back 23.6% of it's move completing a wave A of what probably will be a sharp ABC correction.
Potential Short Opp on GoldSome Confluences telling me that this pair will go short.
- 4H trendline no longer respected.
- Price failed to make a higher high
- Price made a lower low
- Bearish RSI divergence on Daily time frame
What do you think?
HelenP. I Gold will break support level and fall to trend lineHi folks today I'm prepared for you Gold analytics. In the chart, we can see how the price dropped to the support level, which coincided with the support zone and then started to grow. In a short time, Gold rose to 2665 points and then made a small correction, after which continued to move up. Later, the price rose to the 2720 resistance level, broke it, and started to trades inside consolidation, where it some time traded near this level in the resistance zone. Then Gold rebounded up to the trend line, which coincided with the top part of the range and started to decline between this line. In a short time, the price fell to the 2720 level and later made impulse down, thereby breaking this level and exiting from consolidation. Also, the price broke the trend line, but soon backed up and then continued to decline. Later, the price dropped to the support zone, breaking the trend line one more time, after which a not long time ago rebounded from this area, breaking the trend line one more time. Now, I expect that XAUUSD will rise a little and then drop to 2555 points, which coincides with the trend line, thereby breaking the support level. If you like my analytics you may support me with your like/comment ❤️
GOLD: Market Is Looking Down! Sell!
Welcome to our daily GOLD prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 2,590.836$
Wish you good luck in trading to you all!
GOLD - low placed?? what's next??#GOLD.. well played by gold market and perfectly placed our areas.
so far market placed 2536 as today low and that low is a very reasonable low for today.
if market hold it in that case you can see again bounce from here towards our areas 2550 and 2567 , 2572
so keep close and don't short now until market hgold 2536
good luck
trade wisely
Projected Gold Bottom Nov-Dec 2024: Key Levels & Support ZoneUsing Elliott Wave and Fibonacci analysis, I anticipate that gold’s 0.5 retracement level at $2,540, or alternatively the 0.618 level at $2,485, will act as solid support. From these levels, we may see a rebound to the 0.382 or 0.236 retracement levels, potentially lifting prices to around $2,600 or $2,675 in the B wave, followed by a corrective C wave. I expect the 0.618 level to hold, making a dip below $2,485 unlikely. There’s a slight chance of a deeper drop to the 0.786 retracement at $2,400, though strong buying interest is likely at that point.
Maximum projection of Zigzag has touched (Be Aware)Dear Traders,
Those who are trading according to 1 hour chart, gold price has reached the maximum projection of Zigzag correction 261.80%
Opening short position in these level may be suicidal according to wave analysis.
weekly chart long term planI don't see any bull signal on low TF
I don't want to play with market tricks anymore
so I will focus on the weekly timeframe for now and waiting the 2430-2460 bearish target to hit first before analyzing again
I copy-paste the previous weekly sideways for now
and adding 3000$ as bullish target (green one)
step by step plan
1. 2430-2460 hit (dec 2024)
2. 2620 resistance (jan 2025)
3. 2330 support (April-May 2025)
Gold resistance support point market analysis.Gold continued to close with a weak short position, and the daily line fell sharply. Today, gold rebounded and continued to short. There is still room and demand for further decline. The price fell to the trend line of 2556. Pay attention to the top and bottom conversion position of 2530 below.
Gold's 1-hour moving average continued to cross and diverge downward. The decline of gold has not ended. The last low of gold near 2590 has now turned into resistance. Gold rebounded to below 2590 and continued to go short at highs; near 2580, you can enter the market to short.
First support: 2555, second support: 2542, third support: 2530
First resistance: 2570, second resistance: 2580, third resistance: 2591
Trading strategy:
BUY: 2551-2553
SELL: 2580-2582
XAUUSD Possible TOPGodd evening everybody, as you can see we could have reached a Top in Gold price, the line that connect 1980's tops with 2011's tops outline also 2024's top. RSI indicator also shows a double top in monthly timeframe. Those signals I showed were taken from the mothly chart, and have a very strong validity since there's no background noise. I hope you appreciate my idea and if you find it useful leave a comment below. Many thanks.
XAUUSD trading plan with focus on the 1D MA50.Gold (XAUUSD) is on the 2nd straight red day following Friday's rejection, which is in contrast to Thursday's promising rebound and green 1D candle it showed on the 1D MA50 (blue trend-line).
Technically, as long as the 1D MA50 holds, the trend remains bullish within the 5-month Channel Up and our 2800 Target remains intact. As you can see, especially if we observe the 1D RSI fractals, it is a similar (a-e) sequence to the February 14 - May 01 2024 uptrend. Right now it appears that this is phase (e) on the 1D MA50 with the RSI in the lower levels of neutrality (almost bearish).
If on the other hand Gold closes a 1D candle below the 1D MA50 (which will be the first time since July 02, more than 4 months), we will take the small loss on the buy and short instead, targeting the 1D MA100 (green trend-line), with a current Target at 2560 (but can change to adapt on the 1D MA100).
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Current Analysis of XAU/USD The XAU/USD market is currently in a consolidation phase within a bearish framework, primarily influenced by the Federal Reserve's restrictive monetary policy and the strengthening of the dollar. However, the current support levels indicate an interest in preserving gold's value as a long-term safe haven, suggesting that demand remains at these prices.
My recommendation is to closely monitor upcoming FED decisions and any developments in geopolitical tensions, as both factors could trigger significant movements in this asset.
For now, I plan to enter this trade cautiously, managing risk appropriately.
Disclaimer: I am not a professional financial advisor. This analysis represents a personal interpretation of the market and does not constitute an investment recommendation.
Setup building & imminent: Gold's turnaround trade. 1hr below
Gold on the 1hr moved downwards in this correction in a lowering wedge pattern however price moved from this wedge, moved lower today and now is building momentum for a break upwards from a triangle type pattern.
More on this in 1 moment..... I need to check charts
You can see the right of screen 1m chart, double bottom earlier and an upward sloping wedge on 1m chart right up to intraday.
GOLD UPDATE
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
Dear Traders,
If you like this idea, do not forget to support it with a like and follow.
PLZ! LIKE COMMAND AND SUBSCRIBE
Could Gold reverse from here?The price is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance which acts as an overlap resistance.
Pivot: 2,555.82
1st Support: 2,530.28
1st Resistance: 2,588.66
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Disclaimer:
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