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Buygold

Gold creating its 3rd higher high after a steep declineI believe it's time to counter trend trade this pair. I plan on counter trend trading this pullback(retracement) of a daily lower low. TDI was too bearish on the 4hour chart from me to take a long position on Friday but now, all signs are clear for a buy upon a reversal signal at re-test. The swing high is around 1983.27 the swing low is around 1958.15. the neckline for the double bottom is the weekly support. I've already remarked up my chart for the 4hour supports and resistances. I intend to trade as relatively close to naked as possible since the candles speak for themselves as loud as the fundamentals. We're up all night to get lucky as we become more patient with this setup we'll learn that it's the simple fundamentals and basic levels of structure that determine our bias for direction we must be attentive and prepared to switch immediately upon a retest of structure.
OANDA:XAUUSDLong
by DesharedPierreJr.
GOLD: 19/05. Sellers still prevail?TVC:GOLD Gold prices extended the downside break of the two-month ascending trendline and the 50 DMA as it created support at 1955 including the late-January high. Adding strength to the seller's dominance are the bearish signals from the Moving Average Convergence and Divergence (MACD) indicator. However, the Relative Strength Index (RSI) line, set at 14, is still well below the 50 level and shows that Gold prices are bottoming out. Therefore, the 100 DMA and the upward sloping support line extending from November 2022, near $1,930 and $1,925 respectively, could limit the further downtrend of XAU/USD. In the event that the Gold price still falls through the $1,925 level, the possibility of seeing a drop to the $1,910 round-up cannot be ruled out. Conversely, the previous 50-DMA support line, near 1986$ and 1990$ in that order, will stand against the round figure of $2,000 to limit the short-term rally in Gold prices. If XAU/USD remains firmer beyond the psychological magnet $2,010, highs marked in late March and early April, around $2,015 could act as an additional test before ending. pushes quotes towards 5-week horizontal resistance near $2,040. BUY GOLD 1950-1953 Stoploss: 1945 Take Profit 1: 1958 Take Profit 2: 1965 Take Profit 3: 1970 SELL GOLD 1968-1972 Stoploss: 1978 Take Profit 1: 1963 Take Profit 2: 1958 Take Profit 3: 1950
TVC:GOLDShort
by DNA_TradingFX
3
Gold price next week?: Falling out of the 2000 zoneOANDA:XAUUSD Gold remained stagnant throughout the week, closing within the same price range as last week due to a $2,048 resistance and $2,001 support. There are concerns about the US debt ceiling expiration as talks have been postponed to next week. Additionally, there are worries about an economic slowdown as bank deposits in the US decrease. A sustained Buy Breakout move above $2,022 will help gold regain its position at $2,032-$2,038. Buy Sell Breakout at 2000 when the market shows signs of breaking through and close below this price range, stop loss at near 2011 resistance. Nearest target: 1995 - 1990 - 1983 BUY GOLD zone 1983 - 1980 Stoploss: 1975 Take profit 1: 1987 Take profit 2: 1992 Take profit 3: 2002
OANDA:XAUUSDShort
by DNA_TradingFX
Stand by for BUY signal on GoldStand by for BUY signal on Gold 1.790/1800 is an important area of support/resistance. 1) A breach and close above this level, will resume the trend line and climb to 1830/40. 2) if the price can't break the 1790/1800 barrier the trend will most likely change and retreat to 1700 levels 3) Right now, price is underpinned by 1790 support baseline and 50 EMA. And above the 200 EMA 4) Money flow index is in the green zone supporting Upside continuation
OANDA:XAUUSDLong
by Memo_Mountain
1
How does the market react after inflation peaks ? Hi guys, today I bring you an important point for macro analysis. Many believe that seeing a significant improvement in economic data, especially those linked to inflation, showing that it is slowing down is something positive, is it really? In a way, it's a positive metric when looked at in isolation, because inflation brings major disturbances to the economy, but that's a topic for another post. What matters is that the mere fact that inflation has marked a possible peak and the Fed has started to reduce interest rates does not mean that we are going to have a bottom in the market! Currently big banks are warning about the recession, and this for us, is not news, but look at this headline: "Jamie Dimon, CEO of JPMorgan Chase, talks of recession next year" But here we had already been talking about this recession for some time, after publishing a study talking about the inversion of the yield curve, in that study there was the following sentence: "According to the data available on the Federal Reserve website, the inversion of the yield curve preceded all American recessions since 1950, with the exception of a false signal in 1967." This publication was made on the So, yes, we have a contracted recession, but what does that have to do with peak inflation? Inflation brings, as a consequence, a scenario of uncertainties in the economy, and discourages new investments from being carried out. In practice, this causes difficulties for the country's economic growth, and once we have this combined with high interest rates, growth becomes even more difficult. So, even though inflation has reached its peak, interest rates are still very high, and we continue to struggle with economic growth and this usually happens, see the chart, after inflation peaks we had big drops. Will we see something similar again? Tell me your opinion here!
SP:SPX
by leandrosander_
29