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GOLD (XAU)Gold broke its down trend at 1680 and It was a great opportunity for longing and now we heading to 1815 XAU continues to push higher and trades above $1,770 for the first time in nearly three months on Friday. The US Dollar stays under heavy bearish pressure as investors cheer the soft US inflation report and heightened optimism about Chine easing coronavirus restrictions. The Consumer Price Index in the United States rose 7.7% YoY, down from 8.2% in September and clearly below the 8.0% consensus forecast. The CPI accelerated by only 0.4% on the month, down from 0.6% in September and core figures rose 0.3%, rather than the 0.5% expected. The highly anticipated economic release from the United States triggered a massive risk rally on increased expectations of a smaller rate hike by the US Federal Reserve in December. Markets now price roughly an 81% probability of a 50 bps December Fed rate hike vs. odds of about 55% at the start of the week.The US Dollar was heavily sold off into the softer US Consumer Price Index release, propping up Gold price to the best levels unseen since August 26. At the time of writing, the American Dollar is reeling from Thursday’s massive blow, allowing Gold bulls to take a breather
TVC:GOLDLong
by moonypto
2
HelenP. I Gold can drop of trend line lower than support levelHi folks today I'm prepared for you Gold analytics. If we look at the chart we can see how the price some days ago price started to grow inside the upward channel, between the trend line and when it almost reached the resistance line, the price dropped to the support line, breaking the trend line. Then XAU made a fake breakout of the support line of the channel and then in a short time rose higher than support 2, breaking this level and then continued to grow. Price reached the trend line and some time traded near, and later it made impulse up to support 1, breaking the trend line. Also then, the price broke support 1 and even exited from the channel, but soon turned around and made a correction movement below support 1 and the trend line, breaking them. After this, the price tried to grow back, but when reached the trend line, it dropped more. A few moments ago Gold turned around and quickly rose to the trend line again, breaking support 1, and now trades near this level. For this reason, I expect that XAUUSD will reach the trend line again and then drop to $2390 points, breaking the support level. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDShort
by FirstNameHelen
3
Could Gold reverse from here?The price is reacting off the resistance level which is a pullback resistance that aligns with the 127.2% Fibonacci extension and the 78.6% Fibonacci retracement and could drop to our take profit. Entry: 2,452.60 Why we like it: There is a pullback resistance level which aligns with the 127.2% Fibonacci extension and the 78.6% Fibonacci retracement. Stop loss: 2,483.10 Why we like it: There is a pullback resistance level. Take profit: 2,422.48 Why we like it: There is a pullback support level which lines up with the 38.2% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAUUSDShort
by VantageMarkets
GOLD Retests Minor Demand Area: A Bullish OutlookOn Tuesday, GOLD retested a minor demand area on the daily chart, showing a clear rejection and strong reaction from this level. This technical move coincides with significant shifts in the Commitment of Traders (COT) report, suggesting a potential bullish outlook for the precious metal. The price action on Tuesday was notable, as GOLD's rejection at the demand area indicated a resurgence of buying interest. This demand zone has acted as a critical support level, preventing further declines and signaling that buyers are stepping in to defend this price point. The latest COT report reveals a mixed sentiment among different market participants. Both Retailers and Commercials are currently holding short positions, reflecting a bearish stance. However, the Non-Commercials, often considered the more informed traders, continue to push their long positions. This divergence suggests that while some market players are expecting lower prices, the more influential traders are betting on a rise. Seasonality further supports a bullish perspective on GOLD. Historically, certain periods of the year tend to favor higher prices for the metal, driven by factors such as increased demand during festive seasons and economic cycles. This seasonal trend adds another layer of confidence to the bullish outlook, aligning with the technical and fundamental indicators. Given these factors, we are opening a scalping position targeting $2500. This strategy aims to capitalize on the anticipated short-term price movement driven by the confluence of technical support, COT report insights, and seasonal trends. In summary, the rejection of the minor demand area on the daily chart, coupled with the COT report's indication of strong Non-Commercial long positions and favorable seasonality, provides a robust case for a bullish move in GOLD. As we look to target $2500, this scalping position is poised to take advantage of the potential upside in the precious metal. ✅ Please share your thoughts about GOLD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
OANDA:XAUUSDLong
by FOREXN1
3
Gold is heading to 2450 zone(07/31/2024)in our last analysis, we predicted the gold move correctly, For now, after a long correction, we are expecting the price correct some of the losses as B wave. In this case, the final wave will be around the 2450 area. If you like it, then Support us by liking, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
OANDA:XAUUSDLong
by fortunamarkets
Gold Gains on Growing Rate-Cut Hopes Ahead of Fed MeetingGOLD Price reached their resistance line which is 2397 and now stabilized under it, For Today, the price will consolidate between 2397 and 2386 till breaking Bullish Scenario: The price should stabilize above 2397 by closing 4h candle above it, to be a bullish trend toward 2412 and 2420 Bearish Scenario: The price should stabilize under 2397 and 2386 to get 2378 and 2356, by stabilizing under 2378 Key Levels: - Pivot Line: 2397 - Resistance Levels: 2412, 2420, 2428 - Support Levels: 2386, 2378, 2357 Today's Expected Range: The price is anticipated to fluctuate between the support at 2378 and the resistance at 2412 ---------------- Gold Gains on Growing Rate-Cut Hopes Ahead of Fed Meeting Gold futures rose 0.3% to $2,388.60 per ounce as anticipation of a U.S. interest-rate cut grows before the Federal Reserve's meeting this week. While a rate hold is expected, any hints of future cuts will be closely watched. Other precious metals also gained, with silver up 0.3% to $28.11 and platinum up 0.7% to $950.70 per ounce. In contrast, copper prices weakened, down 0.2% to $9,073 per metric ton amid concerns over Chinese demand.
OANDA:XAUUSDShort
by SroshMayi
GOLD / AFTER CONSOLIDATION, STILL BEARISH...GOLD Price dropped perfectly as we mentioned in the previous idea, and again pushed toward their resistance which is 2378 For Today again, the price will trade between 2378 and 2356 till breaking, as long as it trades under 2378, the means will continue dropping to get 2356, and the bullish reverse should stabilize above 2379. Bullish Scenario: The price should stabilize above 2379 by closing 4h candle above it, to be a bullish trend toward 2388 and 2397 Bearish Scenario: The price will drop to get 2366 and 2356, by stabilizing under 2378 Key Levels: - Pivot Line: 2379 - Resistance Levels: 2366, 2356, 2342 - Support Levels: 2388, 2397, 2420 Today's Expected Range: The price is anticipated to fluctuate between the support at 2356 and the resistance at 2397, with a bearish inclination as long as it trades under 2379.
OANDA:XAUUSDShort
by SroshMayi
XAUUSD 28/7/24This week, we are looking at some great potential moves in gold. At first glance, it may seem like we have no plans to buy, but we have a much stronger bias for long positions than short ones. The key point is that until we have a clear structural narrative, we simply follow what we see, which currently indicates short moves. We have a clear sign of momentum on the daily timeframe, leading us to think the pullback could continue and go lower into some more key areas. In terms of price moving lower from its current position, we have identified some clean-cut zones of supply to watch. These zones are marked out above the current price. The first zone is the candle responsible for the run of the last major low and the order block that caused a minor reaction, ultimately inducing buys into failing positions. You can see the trend line we have highlighted, indicating the current trajectory for price action. If this trajectory continues, the higher areas of supply might not be tapped into. However, we are looking for a longer move here if the price allows it. Watch the zones above if the price starts to rise. My main move to watch is running the liquidity low above our demand zone and then shifting up, giving us a clear bullish move into the daily high liquidity target. If we turn bullish, this target will be taken. Until we hit either the supply or demand zones, we have nothing to do except wait. Trade safe and follow your rules.
OANDA:XAUUSD
by PipSurfingSociety
XAUUSD - Gold 4HRSimple Trading - Head and Shoulders pattern -PLEASE READ BELOW- Gold has broken from its bullish momentum and is now finding support at 2350. Expect gold to continue to the previous low and make Lower lows. If the Head and Shoulders pattern plays out correctly, 2400 should be the Highest gold goes before reaching the target. Keep in mind that 2 or more candles closes above 2390-2400 could indicate buying pressure. How to trade the pattern: Entry 1 is the 4hr FVG, 2400-2413 as this is a 4hr H&S pattern we look for the next FVG on the same time frame. BULLS: (weekly) Pay attention to the previous week's candle close. Two weeks ago gold week low was 2395. And last week, Gold's weekly low was 2350. The high of last week was 2430. not only was this considered a bearish week, but Gold also made a huge weekly doji candle. Gold price is uncertain on where price should move next. With a Potential bull flag pattern and a triple bottom, GOLD is certainly still long-term bullish. **We are currently in a 1000pips range or 100 points. 2390 -2290 If gold fails to remain bullish over the next couple of days, gold may drop to the previous week's support. BEARS: Respect the Pattern, take sells around 2395-2400. If a 4hr candle breaks above this 50pips zone, more bullish price action may push the price into the 4hr FVG. *These are just my thoughts, not financial advice.
CITYINDEX:XAUUSDShort
by nikdobii
Chaos and Confusion within Gold Today!I think it makes more sense to walk away from gold at this time as it isn't very clear about what it is attempting to do. Have you ever felt like the market doesn't know what it wants to do? Well if that is the case and the market doesn't know, how the F could you know? Come on, not everyday requires you to place a trade. This is a test most traders will surely fail, because they are addicted to the industry, you have to gain some kind of control over yourself and force yourself to walk away.
OANDA:XAUUSD
by Brandon_evo4
Gold can grow a little and then continue to decline in channelHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price a not long time ago entered to upward channel, where at once it broke the support level, which coincided with the buyer zone and continued to move up. Later price reached the resistance line of the channel, rebounded, and fell to the support line, after which reached the resistance level, which coincided with the seller zone. Soon, Gold broke this level and rose until to the resistance line of the channel, after which turned around and started to decline inside the downward channel, leaving the upward channel. Next, Gold broke the 2430 level again and dropped to the support line of the downward channel, but at once rebounded and rose to the 2430 level. Then price bounced and fell to the buyer zone, which coincided with the support level, after which it started to grow. At the moment, I think Gold can grow a little more and then drop lower than the support level, breaking it. For this reason, I set my TP at 2330 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
1
Could price reverse from here?The Gold (XAU/USD) is rising towards the pivot and could reverse to the 1st support. Pivot: 2,390.87 1st Support: 2,335.77 1st Resistance: 2,422.88 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.
ICMARKETS:XAUUSDShort
by ICmarkets
+$374.00 on Gold Call Today What is up traders, Brandon here - Absolutely lovely call on Gold this morning. Below are the links to all the minds that I would have posted before and after the trade itself was taken> www.tradingview.com www.tradingview.com www.tradingview.com www.tradingview.com www.tradingview.com www.tradingview.com www.tradingview.com I like showing all the receipts because this gives clarity, you get a good idea of before and after. I hope you understood where I was coming from with this one. Have a great rest of your day - see you guys soon =)
OANDA:XAUUSDShort
by Brandon_evo4
GOLD - Price can reach support line of channel and start to growHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A few moments ago price bounced from support level and rose to $2387 points, after which entered to wedge. In wedge, price fell to support line, breaking $2320 level, but soon price backed up, breaking this level again. Then it rose to resistance line of wedge, after which made correction to support line and then made strong upward impulse. Gold exited from wedge and later broke $2420 level, after which rose a little more and then started to decline in channel. In falling channel, price broke $2420 level one more time and at the moment, it trades near support line. I think XAU can fall to this line and then bounce up to $2395, which coincides with resistance line of channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
2