Bearish reversal?The Gold (XAU/USD) is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support level which acts as a pullback support.
Pivot: 2,634.61
1st Support: 2,599.58
1st Resistance: 2,667.58
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
D-XAU
XAUUSD - Dirty TradingRange ZoneFX:XAUUSD is currently trading in a tight range between $2,635 support and $2,670 resistance. This narrow range has been challenging, with several fakeouts making it tricky to navigate. The support zone around $2,635 is holding strong, while the $2,670 resistance has prevented further upside movement.
CAPITALCOM:GOLD traders should watch for clear breaks above or below these levels before committing to positions. Expect more choppy action within this “dirty” range until a decisive breakout occurs.
HelenP. I Gold will rise a little and then start to declineHi folks today I'm prepared for you Gold analytics. A few moments ago price rebounded from the support zone, which coincided with support 2 and fell to the trend line. Next, it started to grow and even rose a little higher than support 2, but soon dropped back to the trend line. Some time later, XAU grew near this line to support 2, broke it, and rose until to 2590 points, after which made a correction to the trend line. Then price made impulse up to support 1, which coincided with one more support zone, and some time traded there. Later, Gold broke this level and started to trades in consolidation, where it first reached the top part and then made a correction back to support 1. After this, the price tried to grow back, but failed and declined to the trend line. But recently, XAU bounced from this line, and at the moment it trying to grow, therefore I expect that XAUUSD will rise a little more and then start to decline to the support level, thereby breaking the trend line. Then it can exit from consolidation, breaking the support level too and continue to fall. For this reason, I set my goal at 2610 points. If you like my analytics you may support me with your like/comment ❤️
XAUUSD H4 - Sell SignalXAUUSD H4
Here is an update on Gold. We are approaching this $2,640/oz support price, and interim trading support zone indicated on the H4 and H1 timeframe. If we are able to break this convincingly, we should see price trade closer towards that $2,624/oz price in the near term.
However, we may well see price bounce from this zone as indicated before gearing up for shorts. The preferred play here is to sell from $2,670/oz and buy from $2,625/oz. Simply buying from the lowest area of support, and selling from highest area of resistance.
XAUUSD 6/10/24Gold for this week: We have price action consolidating, followed by a pullback from the area marked last week. This trajectory aligns with the ongoing upward trend, and we expect it to continue, aiming for the previous all-time high. We have already tapped into a demand zone, and liquidity remains at the base of the last low, as well as within the internal lows of the higher time frame range.
The principle here is that gold is overall bullish, based on strong fundamentals and a clear trend and structure. We expect this upward movement to continue, with our target set at the previous high. We are not anticipating a major pullback; however, since the market is currently driven by fundamentals, there is always a chance this could happen.
If a pullback occurs, we can look for liquidity below the previous low as an opportunity to go higher. If it breaks through, I would expect a longer-term period of selling off, but overall, we anticipate further upward expansions. In summary, keep it simple—follow the clear direction, which is bullish.
Gold can correct to support area and then rebound up to 2700Hello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price declined from the buyer zone a little below, but then it entered to wedge and at once rebounded up from the support line to the resistance line, breaking the 2475 level. Then price some time traded in the wedge and later made a correction to the support level, which coincided with the support line of the wedge and made a strong impulse up. Price exited from the wedge and rose a little more, after which made correction below. Then Gold continued to move up inside the upward pennant, where it reached the current support level, which is located inside the support area. Next, the price broke this level and rose to the resistance line of the pennant, turned around, and corrected to the support area. But a not long time ago it bounced and rose to the resistance line of a pennant, which continues to trades below to this day. In my opinion, Gold can exit from the pennant, fall to the support area, and then start to grow. For this case, I set my TP at 2700 points. Please share this idea with your friends and click Boost 🚀
XAUUSD H1 - Short SignalXAUUSD H1
We broke our area of resistance here on XAUUSD over the eastern session. We have now made a slight adjustment to our trading zone, $2,660/oz has now been moved to circa $2,670/oz. Which now incorporates the next level of resistance, and stops now cover the next areas of previous high price.
We have that whole number confluence, area of H1 and H4 supply, obviously areas of resistance... Lets see what this zone offers, but again, treading carefully around the data cluster we have later today.
GOLD BULLISH BIAS|LONG|
✅GOL D is trading in an uptrend
Along the rising support line
Which makes me bullish biased
And the price is about to retest the rising support
Thus, a rebound and a move up is expected
With the target of retesting the level above at 2680$
LONG🚀
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What will happen given the tensions?The price is in an ascending triangle and an upward channel, and with the tensions, this will cause us to touch the previous price ceiling again.
As tensions rise in the Middle East, TVC:USOIL and CAPITALCOM:GOLD prices will rise.
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
XAUUSD H1 - Sell SignalXAUUSD H1
For those that tuned in to the market rundown yesterday, we covered all of the setups we have been following from the start of the week, including XAUUSD here.
We have seen some strong selling pressure over the eastern session, trading from that same zone we had indicated on Monday 30th. This $2660/oz zone seems to be very attractive and a strong area of supply.
Hoping to see more of the same here on XAUUSD. Corrections before resumed sell orders.
Gold eyes 2700 with potential bull-flag breakoutGold futures look set to have another crack at 2700 over the near-term, given the strong rebound from the 2650 area on Tuesday and the tight bull-flag pattern developing on the intraday chart. Whether it can simply break to a new high is likely down to whether tensions in the Middle East escalate further.
Could Gold reverse from here?The price is rising towards the resistance level which is a pullback resistance that lines up with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 2,645.64
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retracement.
Stop loss: 2,660.75
Why we like it:
There is an overlap resistance level that lines up with the 88% Fibonacci retracement.
Take profit: 2,652.48
Why we like it:
There is a pullback support level.
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Pullback resistance ahead for Gold?The price is rising towards the pivot and could reverse to the 1st support level which is a pullback support.
Pivot: 2,545.34
1st Support: 2,624.97
1st Resistance: 2,660.47
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GOLD road map (1h)Gold can reach the top of the channel according to the chart and then move to the demand zone.
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Best regards CobraVanguard.💚
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✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
HelenP. I Gold will break support level and fall to trend lineHi folks today I'm prepared for you Gold analytics. Some time ago price declined to the trend line (2500 points) and then at once rebounded and rose to support 2, which is located inside the support zone. After this movement, the price tried to rise more, but later it turned around and made a correction to the trend line (2547 points) again, which coincided with support 2. After this, Gold turned around, bounced, and started to grow to support 1, which coincided with one more support zone. When it reached this level, XAU broke it and made a retest, after which continued to move up. Some time later, when the price reached 2685 points, it turned around and in a short time declined to the support zone. But recently it started to move up, so, for this case, I expect that XAUUSD will make a small movement up and then start to decline to the trend line, breaking the support level. That's why I set my goal at 2620 points. If you like my analytics you may support me with your like/comment ❤️
GOLD's Situation: What Shall we Expect !!!FOREXCOM:XAUUSD
In the past days, gold was able to successfully break the ascending triangle and grow well, but now, as you can see, gold formed a rising wedge pattern after the breaking of the ascending triangle, which finally broke this pattern, and now I expect it according to technical analysis. The price will fall to the support area and then grow up.
in close view (1h)
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!
XAUUSD 29/09/24This week on gold, we maintain a similar overall outlook, with the price action expected to continue moving upward. Take note of the previous high. If a pullback occurs due to any fundamental factors, particularly the potential conflict in the Middle East, there may be opportunities to go long from the highlighted areas. However, if no pullback occurs, expect the price action to continue rising.
If we move higher from the current levels, the recent high will likely be taken out. Conversely, if we move lower from our current position, the probability of reaching the high remains strong. Be sure to note the liquid lows, which are in line with both the short-term trajectory and the longer-term trajectory, aligned with higher timeframe demand.
GOLD : High Probability of 2700 and Can go Down to 2400 !! As you can see, a Bearish divergence has formed on the weekly timeframe, which means it is time for a price correction , every uptrend has to be corrected, that's the nature of the market.
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!