Buy Gold (Xau/Usd) Bullish ChannelThe XAU/USD pair on the M30 timeframe presents a potential Buying opportunity due to a recent formation of well-defined Bullish Channel pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 2511, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 2537
2nd Support – 2551
Stop-Loss: To manage risk, place a stop-loss order below 2499. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
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D-XAU
XAUUSD - Gold 4HRSimple Trading - Triangle pattern
Gold has broken from its bullish momentum and is now finding support in the triangle around 2505. Expect gold to continue to the previous low and make higher lows around 2490. If the Triangle pattern plays out correctly, the Price will break bullish above the recent highs and continue to the target. Keep in mind that 2 or more candles are already closed above the Triangle. This could either be a break and retest or could indicate more sell pressure.
*These are just my thoughts, not financial advice.
Gold's Uptrend Intact? ATH Remains Unbroken Gold extended its rally on Monday as mounting expectations for a Federal Reserve rate cut in September fueled demand for the safe-haven asset. Powell gave the green light on interest rate cuts during his speech at Jackson Hole last Friday.
San Francisco Fed President Mary Daly echoed Powell, saying “It's hard to imagine anything could derail a September rate cut.”
Traders are closely eyeing next week’s Nonfarm Payrolls report, which could play a crucial role in determining the magnitude of the rate cut. An abysmal number could raise the likelihood of a 50bps cut. Lower rates reduce the opportunity cost of holding gold, and thus increases its appeal.
Adding to bullion’s appeal, escalating tensions in the Middle East, particularly the intensifying conflict between Israel and Hezbollah, provided an additional boost to prices.
Despite the bullish momentum, gold has yet to reclaim its all-time high of $2,531. Technical indicators show some loss of upward momentum, though they remain well above neutral levels, suggesting the uptrend remains intact.
XAUUSD 26/8/24After calling another all-time high on gold last week, we were expecting more upside from this pair. Now, the one thing that shifts us toward a sell-side bias is the fact that we broke the last significant structural low that led to the new high. This indicates that a pullback is in progress, but with liquidity building above the significant high, the probability of further upside remains the most likely scenario. With this in mind, the level below the current price, where we reacted last week, is where we expect the price to come down and interact again. We also have a demand area below. If the price drops into this area, I will look for longs back toward the highs, potentially creating another new all-time high for gold. However, if we break below the trajectory level we’ve identified and pass the demand area we've marked, we’ll anticipate a deeper pullback, similar to what we projected on EUR/USD.
Using the same principles here, we have two points of interaction for potential upside moves, but for sell-side moves, we don’t yet have any areas to reference. If the price drops lower, new areas will be left behind, and we can begin to consider them. Until then, we are focusing solely on the upside areas. This aligns with our overall bias, supported by the daily timeframe, which is showing very strong moves to the upside. We do not expect this to change abruptly.
Trade safely, follow your plan, and stick to your risk management.
Could Gold reverse from here?The price is rising towards the resistance level which is a pullback resistance and could reverse from this level to our take profit.
Entry: 2,530.36
Why we like it:
There is a pullback resistance level
Stop loss: 2,556.10
Why we like it:
There is a resistance level at the 138.2% Fibonacci extension.
Take profit: 2,477.82
Why we like it:
There is an overlap support level.
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.
XAUUSD (GOLD), falling to support.Hi everybody. Gold bears waiting to start shorting process. They accumulated between 2500.0 - 2516.0 then sold some part and now waiting to sell again.
I mark all interesting market prices for you. Falling to 2487 in near time. Have a nice trading day and thanks for your boost!
GOLD - 1H Sell OpportunityAfter yesterday’s significant drop, OANDA:XAUUSD saw a rise, pushing up to the resistance block order zone. Given the strength of this resistance, there’s a high likelihood that gold could face a strong downward movement from this level, potentially leading to a substantial fall. This setup suggests that the recent uptick might just be a temporary retracement before the next bearish leg.
GOLD - Price can continue to move up inside rising channelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
A few moments ago price started to decline inside pennant, where it fell to support line, breaking support level.
Soon, price turned around and made upward impulse to resistance level, breaking $2385 level and exiting from pennant.
Next, price bounced from resistance level and fell to support area, after which started to grow in rising channel.
Inside channel Gold reached $2470 level, at once fell below, and then rose to resistance line of channel, breaking $2470 level.
After this movement, price corrected to $2470 level, and a not long time ago started to move up.
In my mind, Gold can fall to support area and then continue to move up inside rising channel to $2540
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Heading into 50% Fibonacci resistance?XAU/USD is rising towards the resistance level which is a pullback resistance that aligns with the50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 2,498.84
Why we like it:
There is a pullback resistance level which aligns with the 50% Fibonacci retracement.
Stop loss: 2,529.75
Why we like it:
There is a pullback resistance level.
Take profit: 2,463.56
Why we like it:
There is a pullback support level that is slightly below the 61.8% 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.
XAUUSD - 4H Gold’s Potential DownturnOANDA:XAUUSD has recently surged to the top of its ascending channel, reaching above the $2,500 level. This move, however, appears to be a liquidity hunt, where the market triggers stops above significant levels before reversing direction. After this liquidity grab, technical analysis suggests a strong possibility of gold retracing within the ascending channel.
Fundamentally, several factors are contributing to the potential downside. The recent easing of tensions in the Israel-Palestine conflict has reduced demand for safe-haven assets like gold. Additionally, the de-escalation in geopolitical risks generally leads to a pullback in gold prices as investors shift towards riskier assets. Moreover, the broader market sentiment is leaning towards a stronger dollar, especially with expectations of continued monetary tightening by central banks, which could also pressure gold prices downward.
Given these technical and fundamental factors, gold is likely to face a correction back within the channel, with potential support levels around $2,350-$2,400. This retracement would align with the overall market dynamics and investor sentiment shifting away from gold.
Gold futures: possible path to $3k - down then upIt looks like wave 3 is about to reach its climax soon as EWO indicator shows Bearish divergence with the rising price.
Wave 4 down could drop to the valley of smaller wave 4 around $2,285 and touch the downside of very beautiful uptrend. It should stay above the top of wave 1 at $2,085 otherwise the wave count could be invalidated.
Wave 5 in commodities is usually extended, $3k target doesn't look impossible though.
Buy Gold (Xau/Usd) Bullish ChannelThe XAU/USD pair on the M30 timeframe presents a potential Buying opportunity due to a well-defined Bullish Channel pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 2516, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 2551
2nd Support – 2573
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
GOLD Pre\Post Analysis | Closing w\ $648.00 USD Profit TodayI do believe gold is going to continue to buy. As much as I know traders are interested in selling at the high, I don't think it is that probable to take that trade and the more you think of every trade in terms of probability, it saves you from taking some really shit trades, honestly.
Would you take a bet that you are either A. unsure you can win or B. know you will lose? Of course not, so why is it you take trades like that?
Take smarter trades.
This Rising Wedge can lead the gold price to 2275(08/20/2024)GOLD is moving upward unstoppable. just a glimpse on the chart shows the price is going higher and higher. by looking at the gold chart we can easily identify the Rising wedge pattern.
So are we going to sell gold? no. not right now, we need confirmation. For now, we will stay out and watch.
Our technical view has been shown in the chart.
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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.)
Gold can turn around and drop to support line of wedgeHello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price some days ago entered to upward channel, where in a short time rose to the support level, which coincided with the buyer zone and broke it. After this movement, the price reached the current support level and broke it too, thereby exiting from the upward channel as well. But soon, Gold turned around and in a short time declined until to the 2365 support level, breaking the 2445 level one more time. Then the price bounced and quickly rose back and even entered to wedge, where it made an impulse down from the resistance line to the support line of this pattern. When XAU fell to the support line, it started to grow to the current support level and after it reached this level, the price broke it one more time. Next, the price continued to move up and reached the resistance line of the wedge. A not long time ago, Gold exited from this pattern and now I think that XAU can rise a little and then drop to support line of the wedge, making a fake breakout of this pattern. For this case, I set my TP at 2475 points, which coincided with this line. Please share this idea with your friends and click Boost 🚀
GOLD will rise by +300% in only 3 years! (Better than Bitcoin)I am pretty confident that GOLD will rise by +300% in price in only 3 years! Is gold a better investment than Bitcoin at this moment? Should you sell BTC and buy GOLD? Definitely yes, and I will tell you why!
Gold was in a sideways consolidation period from 2011 to 2024. And this year, in March 2024, the price finally made a strong breakout bullish candle on the monthly chart that changed everything! The big players have a lot of liquidity and then cannot move large amounts of money from one asset class to another with a single order. Also, for them, it's not best to buy all assets at the same time. In 2024, we see that big players are hugely interested in gold again, so this should be your main focus.
Why can Gold go 300% in 3 years and Bitcoin cannot? That would be around 210,000 USD per Bitcoin in 2027, and we know that this is impossible to happen as Bitcoin is statistically dropping every third year by 70% - 90%. Of course, big players are using this high volatility to buy cheap Bitcoin and to force retail investors to sell in a huge loss. They will do it again, as it's extremely profitable for them. Most likely, the price of Bitcoin in 2027 will be below 70k!
From a technical perspective, on the monthly chart we can see that the price of GOLD is inside this ascending parallel channel (since the year 2000). The probability of touching the top of the ascending channel is very high at this moment. From the Elliott Wave perspective, gold is starting an impulse wave (3)! Usually, waves 3 are the strongest! Another indication that huge news is coming for GOLD.
Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.