mid term correction and impulse expectationdouble three correction. W is zigzag so Y might be triangle or flat. Then impulse continuation
F-XAU
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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⚠️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.
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✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
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Gold can break support level and continue to declineHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that some days ago price rebounded from the support line of the upward channel and rose to the 2550 support level, which soon broke it. After this, the price tried to grow and some time traded higher, after which it made a correction movement to the support line of the channel, which is located inside the support zone. Then price turned around and continued to rise to the current support level, which coincided with one more support zone, and when Gold reached this level, it at once broke it. Next, the price some time traded near this level inside the support area and a not long time ago rose to the resistance line of the upward channel. But soon, Gold rolled down and in a short time declined to support the area, so, I think that Gold can make a move up and then continue to decline next. Also, I expect that XAU will break the support level and fall to the support line of the channel, therefore I set my TP at 2615, which coincides with this line. Please share this idea with your friends and click Boost 🚀
GOLD - Price can start to decline, breaking support lineHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Some time ago price started to grow inside a rising channel, where it firstly declined to support line.
Then it rose to $2435 level, broke it, and continued to move up to resistance line, which coincided with $2530 level.
Next, XAU some time traded near this level and later fell to support line of channel, after which made an upward impulse.
Price broke $2530 level and rose to resistance line of channel, which soon broke also, thereby exiting from rising channel.
At the moment, Gold trades near this line and I think it can rise a little more and then bounce down to $2580.
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XAUUSD bullishThis is how i see GOLD in friday, i think price is still going up, after getting reach to touch TP, next decisions will be on the way.
Gold (GC) Falling Wedge 1h- Falling wedge with fib extensions up to price targets of 2697 and 2730
- SL would be breakdown of wedge and failure to reestablish
Buy XAUUSD (Gold) Bullish FlagThe XAU/USD pair on the M30 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Bullish Flag 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 2660, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 2681
2nd Support – 2696
Stop-Loss: To manage risk, place a stop-loss order below 2648. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
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XAUUSD - 4H Higher targetsFX:XAUUSD prices are currently in a strong upward trend, having broken past the $2,600 resistance level. Based on the technical analysis, this surge opens up a path toward the $2,650 target, supported by the recent bullish movement. The chart clearly indicates that a pullback to the $2,600 zone would present a solid buying opportunity. Traders are encouraged to stay calm during any temporary declines and consider adding to their positions in anticipation of further gains.
Fundamentally, escalating geopolitical tensions in the Middle East, particularly the ongoing Israel-Hamas conflict, have significantly boosted gold prices as investors seek safe-haven assets. Gold’s role as a hedge against global uncertainty has become even more pronounced with concerns of the conflict escalating across the region, leading to increased demand. Additionally, broader fears of economic instability, inflation, and potential recessionary pressures have further driven this bullish sentiment in gold markets.
As both technical and fundamental factors align, CAPITALCOM:GOLD is well-positioned to reach the $2,650 target. Traders should remain vigilant for any price dips, as these may offer prime opportunities for further entry into the market.
Gold's Rally Nears an Interesting Zone: Time to Lock in Profits?In six of the last seven months, Gold has hit new all-time highs. It's been an impressive rally, especially after breaking the significant psychological level of $2000. It took almost four years and seven failed attempts before the 8th finally succeeded, followed by a textbook retest—and here we are today.
From my perspective, XAUUSD has now reached a highly interesting zone. Two of my key criteria— channel projection and equal waves —are in play, which are useful when there's no previous price action traffic from the left.
Is this a short/sell zone? No, I don’t think so. Instead, it’s a prime spot to consider taking profits . If you've been wondering when and why to lock in some gains, the price action suggests this could be an ideal opportunity.
While shorting opportunities may present themselves, it will take time for the price action to develop and show signs of a potential downturn. The last time we saw a Lower Low on the Weekly chart was back in September 2022. So, jumping into a short position right now could be extremely risky. Even on the Daily chart, higher lows have been forming consistently.
To sum it up: this is not an area to short but rather an interesting zone to watch for future developments. If you’re uncertain, this could be a perfect point to take partial or full profits.
A Quick Overview of the Criteria:
Channel Projection – You may have heard that prices move within channels. Right now, we’re trying to predict the upper trendline of the channel as the price takes shape. Start by drawing the lower trendline, from wick to wick (or body to body). I’ve drawn mine using the wicks, marked with a red circle. Then, copy and paste it to the highest peak between the lower points. This gives us the channel projection. Feel free to try this on other charts and share your results in the comments!
Equal Waves – I call this method "equal waves," though others may have a different term for it. The idea is to measure major price swings. In this case, the first major swing was from near all-time lows to the 2011 high. After the correction, the second swing started in December 2015. Copy and paste the length of the first swing, and you’ll see it matches closely with the parallel channel’s projection.
Together, these two criteria have worked well for me to identify both buying and profit-taking zones. For example, I’ve applied them successfully to stocks like MMM , AMD , and NVIDIA .
Summary:
Gold (XAUUSD) has hit new all-time highs in six of the last seven months, breaking the $2000 level after years of attempts. Now, the price has reached an interesting zone for profit-taking rather than shorting. Two key technical analysis criteria—channel projection and equal waves—suggest it’s a strong area to consider locking in gains. However, it’s too early to consider shorting, as no clear signs of a downturn have appeared yet.
GOLD Potential Short! Sell!
Hello,Traders!
GOLD is trading in a strong
Uptrend and it is locally
Overbought so as the price
Is about to hit a rising resistance
Line we will be expecting a
Potential local bearish correction
Sell!
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Check out other forecasts below too!
XAUUSD 6RR | 15M TF BULLISH SETUPICMARKETS:XAUUSD should move towards the upper range of liquidity, we can aim to move our SL up as the price moves higher and aim for 3-6RR on the trade, if you can see there is also a bullish pattern on the chart so let's hope for the best.
SILVER SHORT via AG (WORST RUN MINER IN THE GAME) FUNDAMENTAL
- Price of Silver aside, AG is an incredibly poorly run miner. From mass share dilution to disastrous acquisitions I can not think of a more poorly run company. The stock price speaks for itself... sitting near the lows of the year despite silver at recent highs.
SILVER
- Silver has been behaving very weak in relation to Gold. Unless we break out above 31.50-32.50 I see Silver continuing to be range bound at best. There are many reasons for this. Mainly indications from strong correlations that I will not mention (secret sauce).
TECHNICALS
- The price is at a solid supply level (6.20) and has already began dramatic impulses to the downside at any hint of Silver rolling over. In addition we have divergence on the RSI.
DISCLAMER: No Neumeyers were hurt in the making of this post
GOLD Breaks Records,Overbought Signals Hint at Scalping ReversalGold surged to a new all-time high near $2,610 on Friday as expectations grew that global central banks will join the Federal Reserve (Fed) in easing monetary policy and cutting interest rates. Investors are increasingly turning to gold as a safe-haven asset, driven by the prospect of lower interest rates, which diminish the opportunity cost of holding non-interest-paying assets like gold. This surge in gold’s value is largely attributed to the growing consensus that central banks worldwide will follow the Fed's lead in slashing rates to stimulate economic growth.
Lower interest rates typically favor gold, as they make alternative interest-bearing investments less attractive. With fewer benefits from higher-yielding assets, gold becomes a more appealing choice for investors looking to protect their wealth in an environment of falling rates. However, as gold reaches new highs, there’s a caveat: when access to gold becomes easier, it reduces the perceived value of holding it, as the scarcity that once made the asset so desirable begins to wane.
Amid this record-breaking rally, we’ve noticed overbought conditions in the gold market, signaling a potential opportunity for scalpers. A short-term bearish setup is forming as gold nears a technical exhaustion point. The sharp rise in price has pushed gold into overbought territory, which often precedes a pullback or reversal. This presents a lucrative opportunity for traders looking to capitalize on a quick price correction.
From a technical standpoint, gold is showing signs of a potential reversal, as momentum indicators flash warning signals of an impending price downturn. Scalpers and short-term traders may find an attractive entry point for a bearish trade, particularly if gold fails to maintain its new record high and starts retreating toward key support levels.
While the long-term outlook for gold remains bullish due to global monetary easing, in the short term, market conditions may favor a pullback. Traders looking for a short-term bearish setup should monitor key resistance levels and momentum indicators for confirmation of a reversal. With gold hovering near its peak, the potential for a temporary correction is becoming increasingly likely, making it a prime target for short-term profit opportunities.
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HelenP. I Gold will rebound from trend line and continue move upHi folks today I'm prepared for you Gold analytics. A few moments ago price declined to the trend line and then started to move up near this line to support 2, which coincided with the support zone. When the price reached this level, it broke it and rose a little more, but soon turned around and dropped, breaking support 2 and the trend line too. Soon, Gold turned around and continued to move up next, and later it broke the trend line with support 2 one more time. Next, the price rose to support 1, which coincided with one more support zone, and some time traded near this level, after which turned around and made a correction movement below the trend line. Gold some time rose near below this line and later broke support 1, after which in a short time broke the trend line too. Just now, the price trades close to this line and I expect that XAUUSD will rebound from the trend line and continue to move up. For this reason, I set my goal at 2620 points. If you like my analytics you may support me with your like/comment ❤️
Bullish bounce off major pullback support?The Gold (XAU/USD) is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance.
Pivot: 2,531.45
1st Support: 2,500.49
1st Resistance: 2,588.56
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.
Is Gold Predicting a 50-Point Rate Cut? Gold surged to an all-time high before pulling back, as investors await the Federal Reserve’s first move to ease monetary policy in over four years.
Traders are pricing in a 67% chance of a 50-basis-point rate cut, according to CME’s FedWatch Tool. Yet, despite growing expectations of an aggressive start to the policy easing, gold has slipped 0.5%, paring last week’s gains to 2.9%.
Could we see more downside in gold if a 25-basis-point eventuates from the Fed? $2,530 could be a potential level of support in this scenario.
Technical indicators, including the Relative Strength Index (RSI), have eased from near-overbought levels but perhaps not enough to suggest a more significant decline in gold prices is imminent.
