!!! GOLD !!! - Double Bottom confirmed ! (1h-short)Hi,
With this new trend we have to prepare for a new race of higher prices
This is just an idea!
Take care!
D-XAU
GOLD BULLISH BIAS|LONG|
✅GOLD is going down now
But a strong support level is ahead at 2390$
Thus I am expecting a rebound
And a move up towards the target at 2422$
LONG🚀
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XAUUSD 23/7/24This week’s gold markup is looking very similar to EUR/USD. We have trendline liquidity sitting under the current lows. We have taken some obvious liquidity, so this could be an early sign that price action may be shifting bearish for a longer-term move. Bear in mind, we have taken all-time highs on gold, as we have across the higher timeframes, meaning that our higher timeframe bias is bullish, and we must, of course, respect that. However, this does not mean we are not going to have a pullback that could last for several days or several sessions, so keeping this in mind is key.
Now, if you see on the chart in front of you, there are three separate scenarios that I have marked:
1. Scenario one: We break the bearish 4-hour high, bringing us back into a bullish directional movement. I am looking at the trendline area and the higher timeframe area of supply for possible sell-offs into the lows we have marked on our chart. If we break the 4-hour high, we will be back into a bullish directional bias. This does not mean that the price is 100% going to sell off, as we will be bullish if we do not react at the trendline area and the supply area. I will be looking for the previously created all-time high to be taken and price action to continue the bullish delivery.
2. Scenario two: We continue bearish within the 4-hour selling range that we are currently in. This causes price action to break down, and we will look for the liquidity lows to be taken. This will, of course, give us a deeper pullback on the higher timeframe, and I will then be looking for longs if we shift structure.
Stick to your plan and trade what the price is showing you. I hope you all have an amazing week.
GOLD to find sellers at market price?Gold - 24h expiry
Posted a Double Top formation.
Short term bias has turned negative.
5 negative daily performances in succession.
20 4hour EMA is at 2411.5.
We look for a temporary move higher.
We look to Sell at 2411.5 (stop at 2427.5)
Our profit targets will be 2371.5 and 2361.5
Resistance: 2404.0 / 2412.2 / 2420.0
Support: 2383.9 / 2370.0 / 2350.0
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Could Gold rise from here?The price is currently reacting off the pivot which is an overlap support and could potentially rise to the 1st resistance.
Pivot: 2,392.79
1st Support: 2,371
1st Resistance: 2,419.04
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After breakout of support line, Gold can continue to declineHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some time declined to the buyer zone, which coincided with the support level and started to grow inside the wedge, where it at once rebounded from the support line to the resistance line. When the price reached the resistance line of the wedge, which is located in the seller zone, it turned around and made a downward movement, breaking the resistance level. After this, Gold tried to grow, but failed and dropped to the support line of the wedge, after which turned around and bounced back to the resistance line of the wedge. Then the price declined to support line again and then started to grow, after which soon exited from the wedge. Price continued to grow near the support line and later reached the 2430 level, broke it, and rose even higher than the seller zone to 2483 points. But some time ago it turned around and made impulse down to the support line, breaking the resistance level one more time, and now Gold tried to break the support line too. So, I think that the price can finally break this line and then make a retest, after which continue to decline. Therefore I set my TP at 2340 points. Please share this idea with your friends and click Boost 🚀
Sell Gold (Xau/Usd) Channel BreakoutThe XAU/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 2465, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 2425
2nd Support – 2403
Stop-Loss: To manage risk, place a stop-loss order above 2487. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
GOLD - Price can bounce down from pennant to $2340Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Some days ago price bounced from $2375 level and tried to grow, but soon turned around and made downward impulse.
Price broke $2375 level and entered to flat, where it little later made fake breakout of $2375 level and bounced down.
Then Gold rose almost to top part of flat and then corrected, after which started to grow inside pennant.
Some time later price exited from flat, made small movement down to support line of pennant, and then bounced up.
Gold broke $2375 level and rose to resistance line of pennant, but not long time ago corrected to support line.
Possibly, price can make little move up and then bounce down to $2340, breaking support level and exiting of pennant too.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
!!! GOLD !!! - Classic H&SHi,
We have a head and shoulders classic in the next few hours
This is just an idea!
Take care!
GOLD Rebound Ahead! Buy!
Hello,Traders!
GOLD made a nice
Bearish correction duping
Us all in the process with
The fakeout of the all-time-high
But will soon hit a horizontal
Support level of 2386$
From where we will be
Expecting a nice bullish rebound
Buy!
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Check out other forecasts below too!
GOLD WILL GROW|LONG|
✅GOLD is going down now
But a strong support level is ahead at 2390$
Thus I am expecting a rebound
And a move up towards the target at 2410$
LONG🚀
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Gold (XAUUSD): Bearish Signals Hint at Possible Drop to $1000!Upon examining the monthly gold chart, it appears there could be a significant price drop, a secondary scenario in our analysis. We don't foresee a 50% decrease in the near future, though it's not impossible, especially if the market downturn affects all sectors, including gold. It's crucial to consider all possibilities due to market unpredictability, even a drop to $1000 per ounce.
This view is backed by a bearish RSI divergence since 1966 and signs that we might be completing the first 5-wave cycle, which could reach up to $3000 per ounce but should not exceed this level.
Currently, the apparent breakout seems to be a fake-out. Surpassing $3000 would mean our analysis underestimates the bullish potential.
Elliott Wave Theory suggests Wave 5 might break out from the trendline formed by Waves 1 and 3, create a fake-out, then sharply decline, aligning with our secondary scenario for gold. We plan to further explore and outline our primary scenario in the next section.
Anyway, when closely examining the 12-hour gold chart, we primarly anticipate a continued upward movement rather than a sharp downturn. We believe that the minor Wave 1 has concluded, and we should see a retracement to the 50-61.8% Fibonacci level, where we expect to find support at the High-Volume Node.
The recent upward trend has been quite extreme. Therefore, we predict finding support between $2,200 and $2,130, before potentially breaking through the $2,500 mark, which we expect to coincide with the completion of the major Wave (3) or minor Wave 3.
Gold - 4H , Are you ready for a dip correction?In the 4H and Daily chart, XAUUSD has exhibited three pushes, and today the price consolidated under the trend line. This formation is an ascending channel, which can break from the top, but the last bullish leg didn’t have enough pullbacks. It seems bulls are taking some profits now, indicating a potential fall from this area.
Could Gold bounce from here?The price is falling towards the support level which is a pullback support that is slightly above the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 2,423.36
Why we like it:
There is a pullback support level which is slightly above the 50% Fibonacci retracement.
Stop loss: 2,391.64
Why we like it:
There is a pullback support level.
Take profit: 2,453.68
Why we like it:
There is a pullback resistance level that lines up with the 50% Fibonacci retracement.
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Quick US 30 Scalp on Correction & Gold MELTRed day for the Markets.
Took chance of some corrections.
GOLD Will Go UP! Buy!
Hello,Traders!
GOLD broke the key
Horizontal level of 2450$
Which is now a support and
The price is making a pullback
And a retest of the new support
From where we will be
Expecting a rebound and
And further move up
Buy!
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Check out other forecasts below too!
GOLD - Price can make small movement up and then start fallHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
A not long time ago price entered to rising channel, where it firstly some time traded near $2320 support level.
After this, price bounced and in a short time rose to resistance line of channel, but at once made correction.
Price fell to support line of channel and then continued to grow near this line, and little later bounced up to support area.
Then Gold made little correction movement from this area, after which turned around and made upward impulse.
Gold broke $2425 level and recently even exited from rising channel and at the moment it continues to rise.
In my mind, price can make one more movement up and then make correction to $2425 support level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Buy Gold (Xau/Usd) Triangle BreakoutThe XAU/USD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade:
Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 2419.
Target Levels:
1st Resistance – 2446.50
2nd Resistance – 2462
Stop-Loss: To manage risk, place a stop-loss order below 2390. This helps limit potential losses if the price falls back unexpectedly.
Thank you.
!!! GOLD !!! - TRUE ?Hi,
With the rapid advancement outside the main market we can now consider something bigger
This is just an idea.
Take care!
Trump, Fed Speculation Drive Gold to New Heights Trump, Fed Speculation Drive Gold to New Heights
Gold price cleared the May 20 high of $2450 on Tuesday, as expectations intensify that the U.S. Federal Reserve will commence an easing cycle in September. Fed Chair Jerome Powell addressed the Economic Club of Washington this week, noting the economy's solid performance and signaling potential rate cuts once inflation trends towards the 2% target.
The CME FedWatch Tool indicates near-certain odds of a 25-basis point rate cut in September, with many forecasting a total of 50 basis points in cuts through 2024. But one has to question the accuracy of these optimistic predictions. The next FOMC meeting is in 14 days.
Adding to the upward momentum on gold is the potential election of former President Donald Trump in November. Trump's proposed policies, including tariff hikes and tax cuts, are anticipated to increase the U.S. budget deficit and spur inflationary pressures.
Bullish momentum in gold appears intact, supported by the Relative Strength Index (RSI) on the daily chart. Although it is trending higher and approaching typical overbought conditions.
GOLD MASSIVE BREAKOUT|LONG|
✅GOLD is trading in an
Uptrend and the price just
Broke the key horizontal level
Of 2450$ which was an all-time-high
And is now a support level because
The breakout is confirmed so
We are bullish biased and we
Will be expecting a further
Move up after a potential
Pullback and retest of the
New support level
LONG🚀
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!!! GOLD !!! - The end of the raceHi,
We have one point left in the race after the breakout
This is just an idea.
Take care!
GOLD Heading to the 2500$ zone(7/16/2024)After a long and intense Correction, Gold made a Lower high and finally broke the correction trendline and made some upward moves. In this way, NFP and CPI data helped the price reach higher.
Right now, the price will move a little higher, after some corrections, Gold will head for the 2500$ zone.
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.)
