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GOLD → Another false breakout on resistance retest OANDA:XAUUSD is weakening after a resistance retest that ends in a false resistance breakout. Yesterday, in Sunday's XAU idea, I talked about prioritizing a further drop as the dollar is poised to rise further and gold forms a false break of trend resistance Price is back under a strong descending resistance line. Consolidation below this line will form a strong bearish potential. The TVC:DXY forms a retest of 105.00, a fairly strong resistance that holds the price for a long time. This week there are many key news that will affect the market pricing and the $ value, which will give us a medium term outlook for both forex and gold. At the moment I expect a further decline in the price. The first important target is 1916.7, then 1903.8. The second option is important if the fundamental background does not change its direction. Resistance levels: 1928, 1926 Support levels: 1916, 1903 The market is testing the resistance for a breakout, but it is not ready yet, as the fundamental background for gold is still on the side of the bears OANDA:XAUUSD CAPITALCOM:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
34
GOLD → The certainty of a strong market or the trap of MM?OANDA:XAUUSD is strengthening at the end of the week and closed above Monday's open. BUT! The dollar is also strengthening and on the chart we see several key elements forming and an important zone that can give us strong signals. In the coming week, the following news is worth paying attention to: 09.19 CPI (YoY) EUR 09.20 CPI (YoY) USD FOMC FED 09.21 Initial Jobless Claims FED 09.22 S&P Global Services PMI It is worth paying attention to the W1 dollar chart and the XAU 1D. A bearish wedge is forming on the chart, but a large candle was formed on Friday, within which gold has little chance of breaking through this area yes and in tandem with a rising dollar. There is a high chance of a correction beginning as we see a false break of a strong resistance zone on the hourly timeframe. The price is forming a fljt 1928 - 1903. The upper boundary is being tested and at the same time price is forming a false breakdown of a key liquidity and resistance area and most likely we may see a correction to 1916 or even 1903 on Monday. BUT! If the dollar, which is giving a strong signal to break resistance, fails to go up and starts a correction, then gold may well be able to break the above upper zone and start rising towards 1950, as the price is now looking more correct than expected on the back of TVC:DXY strengthening. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
20
GOLD → It's a tricky situation. High chance to FB ↘︎OANDA:XAUUSD is moving out of the downside range, but at the same time the DXY reverses and forms a retest of 105.00. The DXY fundamentals are better and there is a higher probability of further dollar gains than gold Note the small chart below (Dollar Index). An important level is marked and we see the price retesting the resistance within one week - a high chance for a breakout and further gains. Gold thus goes beyond the resistance, a correction is formed and if the price does not show a bullish impulse relative to the level of 1916, then we should expect gold to return to the boundaries of the descending range, which will be a false breakout. In this case, the cost of the metal will start to decline again. The market will pick up this maneuver and due to the received liquidity at the false breakout the price may show a strong bearish impulse. But! there is a possibility of a breakout. For this price needs to strengthen above 1916 and above 1919, only then gold can go to 1928. Support levels: 1916.7 Resistance levels: 1919.6 In priority I expect a false breakout of the channel resistance on H1 with the subsequent decline on the background of the dollar strengthening. But there is also a probability of confirmation of resistance breakout with further growth. We follow the price reaction to the mentioned zones. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
GOLD → Market declines in steps - a strong hint OANDA:XAUUSD is moving in steps, gradually updating local lows, which speaks about the current trend. After another resistance retest, which failed, the price returns to the support and under the market pressure breaks the line On the senior timeframe a sideways range is formed and the price is approaching the decisive support, a rebound before the breakout may follow. On the local timeframe we see the breakout of another support line and the price decline to 1905 (at the time of writing the review). Most likely, gold seeks to test the liquidity area below the key low of 1903.8. (False breakout is possible). From this area the market is likely to form a correction to 1908 or to 1912 with the subsequent decline on the background of the downtrend and reaching again 1903 or even to 1889 in the medium term. TVC:DXY does not give preconditions to fall yet and may continue its growth, for which XAU is preparing. Support levels: 1903.8 Resistance levels: 1908.4, 1912.8 I expect a retest of support, but the market will not break this level at the first time, but will form a rebound before a further fall. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
XAUUSD Bearish continuation on a Double Channel DownGold / XAUUSD remains under the 1hour MA50, inside a short term Channel Down (started September 11th) within a longer term Channel Down (started September 1st). As long as it remains under, the action is bearish. Sell and target 1893.50 (bottom of the long term Channel Down and -1.95% decline from the top, same as the September 6th Low. If a 1hour candle closes over the 1hour MA50, you can take a fast buy for quick gains and target 1,918. The trend changes long term only if the 1hour MA200 breaks. Previous chart: Follow us, like the idea and leave a comment below!!
FX_IDC:XAUUSDShort
by TheCryptagon
6
🥇GOLD - Retest of resistance before further decline Gold breaks down and updates the local minimum within the descending price channel. The global trend after the correction continues. TA on the high timeframe: 1) Breakout of local support at 1916 confirms our action and market sentiment 2) The market is in a global downtrend. We should pay attention to strong resistance levels for further sales TA on the low timeframe: 1) Price forms a new low at 1907 2) counter-trend correction is forming from 1907. The market may soon test the previously broken support line at 1916.7 3) Since the trend is downward, this level will be ideal for further selling. 4) It is also worth paying attention to the support at 1907. If this line is broken, the market will also go down. Key resistance📈: 1916.7 Key support📉: 1907, 1903
OANDA:XAUUSDShort
by Gold-Tech
14
More downside for gold is probableIn line with our previous ideas and choppy price action, we continue to wait for a better opportunity to add gold to our portfolio. We are neutral to slightly bearish in the short term while bullish in the long term. However, we still deem a weakness in the stock market as a danger to the higher price of gold (at least for now). As a result, we believe gold's price is still not out of the woods. Indeed, we would not be surprised to see it plunge below $1,900 again in the foreseeable future. This possibility is indicated by technicals on the daily and weekly charts, which are growing increasingly bearish. Therefore, more weakness for gold is probable. We will update our thoughts on the asset with the emergence of new developments. Illustration 1.01 Illustration 1.01 shows the daily chart of MACD, which failed to hold above the midpoint. That is a bearish development. Technical analysis Daily = Bearish Weekly = Slightly bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDShort
by Tradersweekly
4
GOLD → The trend formation continues. Support retest OANDA:XAUUSD failed to break the resistance of the local descending channel on H1 as the price is trapped inside the global bearish trend on D1. The TVC:DXY correction is failing to yield much as gold is also weakening On yesterday's decline the market is forming a local support level at 1908.4. From the opening of the new session we see a retest of this area without any strong counter-trend pullback. It is clear that the bears are strong at the moment, as evidenced by the futures volumes. The market is in a downtrend, earlier there was a retest of 1916.7, the next target may be the support area (liquidity area) 1903, but from this area, as 1903 is a strong enough support area, a rebound may follow and form a flat or consolidation before a further maneuver. Within the flat, the price may reach resistance. Support levels: 1908. 1903 Resistance levels: 1916, trend line I expect a retest of 1908 with a subsequent breakout and testing of 1903. From 1903 a rebound to local resistance is possible before further fall. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
25
XAUUSD: The critical level is the 1W MA50. Big sell below it.Gold is so far extending last week's decline, which has been a rejection inside the long term Channel Down since April. We are observing the 1W timeframe on this idea, which remains neutral (RSI = 47.656, MACD = 11.160, ADX = 23.339) despite the Channel Down, due to holding so far over the 1W MA50. This is the long term Support and on similar Channel Down patterns since August 2020, when it broke, Gold extended the downtrend. As shown, this three year pattern has been a wide sideways consolidation with clear R Zones following Gold's All Time High after an aggressive 2019-2020 rally. The 1W RSI shows that August's rebound on SS and the 1W MA50 may put the yellow metal on a similar position as May 9th 2022 and November 23rd 2020. You can even notice that the rise on the US10Y since March isn't helping and if it continues, it should pull Gold even lower. There is a P1 Zone (pivot) that has formed higher lows through these years and if the price crosses under the 1W MA50, it is the most likely target for us. This is where the 1W MA200 will be at by that time. We will wait for that 1W MA50 breakout to happen and then sell (TP = 1830). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSD
by InvestingScope
5
GOLD → Bearish leverage continues to drive the market OANDA:XAUUSD is retesting the resistance of the newly formed descending price channel. A rebound and a retest of the 7-day flat support is formed In the near future, the price may test the flat support at 1916.7 and form a rebound. The rebound may be small, for example, to 1924 to retest the trend resistance. After that the price may continue its fall, breaking the marked support. Globally, the price is in a downtrend. A symmetrical triangle is clearly formed on the d1 chart and we have fundamental prerequisites that the price may break the support at 1902 and head far down. The local situation is simpler. Since the local trend intraday can change several times, our task is to look for key levels to find a good opportunity to open trades Support levels: 1916.7 Resistance levels: 1924 The medium-term outlook is bearish. Most likely, gold may update both local and global minimums on the background of strong strengthening of the dollar ( TVC:DXY ). Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
22
GOLD → Resistance retest in correction phaseOANDA:XAUUSD is strengthening on Monday and is testing flat resistance with a false breakdown. Consolidation below 1928 is forming. The growth of gold is based on the fall of the dollar index before reaching a strong resistance On the chart, we see a flat formation after breaking the ascending channel support. Yesterday I pointed out that the TVC:DXY is in a strong bullish trend, but since the price is near strong resistance, a bounce down may follow before further gains, which is what we are actually seeing. As far as XAU is concerned, I am waiting for a fall after a false breakdown of resistance. Before the fall we are held back by the level of 1926. The target in this case will be the support at 1916 BUT, if the dollar continues to fall, gold will break 1928, and will reach 1939, also the price can test MA-200. On the global timeframe the preconditions for further fall are developing. Support levels: 1926, 1916 Resistance levels: 1928 I expect gold to decline in priority, but it should be understood that the scenario may break down based on external factors. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
XAUUSD Sell opportunity within the Channel Up.Gold (XAUUSD) is trading within a Channel Up pattern but following the downtrend since the September 01 High, it may be nothing more but a Bull Flat pattern. Whatever the long-term case, the short-term trade is a sell as the price appears to be getting rejecting at the top of the pattern, while the 1D MA200 (orange trend-line) looms above. Our target is the bottom (Higher Lows trend-line) at 1918. We will make short-term trades only and buy every candle closing above the 1D MA200, targeting the upper Resistance levels. Similarly we will sell if a 4H candle closes below Support 1 and target 1903.50 (Support 2). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
2
GOLD → False breakdown and retest give mid-term targetsOANDA:XAUUSD is forming a signal that gives us insight into further medium-term potential. The market is trading within a descending price channel. Strong TVC:DXY continues to put pressure on the XAU price There is quite a lot of news published in the coming week. It is worth paying your attention to the following: 13.09: Core CPI CPI (MoM) & (YoY) 14.09: Core Retail Sales Initial Jobless Claims PPI On the global timeframe we see a broad sideways flat formation. At the moment there is a potential for a decline towards 1800 in the medium term, and even towards 1700 or 1600 in the long term - standard trading strategies determine the trading potential within the flat. On the daily timeframe we see a false breakdown of the descending channel resistance. After two bearish candles the market forms a shakeout and a retest of the trend resistance, but a new signal is formed - a candlestick pattern with a long candle, which is also a prerequisite for a red market. Local support level is 1915, in the first half of the trading week the market may test this area with a high probability of further breakout and realization of accumulated potential for further decline to the lower boundary of the channel or flat CAPITALCOM:GOLD VELOCITY:GOLD CAPITALCOM:DXY FOREXCOM:XAUUSD COMEX:GC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
16
🥇GOLD - Market tests resistance area by false breakout Gold is forming a local downtrend. Which is relevant after the break of the ascending channel in early September. The realization of a strong sell signal is forming on D1 TA on the high timeframe: 1) Everything is stable. False break of resistance sends the price down 2) Potential: falling to 1900 after correction. TA on the low timeframe: 1) Price in bearish trend 2) A retest of 1926 prevents the price from updating the local high 3) Consolidation is forming below 1926 after a false breakdown 4) Bears are consolidating their positions on the background of a weak buyer Key resistance📈: 1926 Key support📉: 1916 and 1903
OANDA:XAUUSDShort
by Gold-Tech
13
GOLD → Trend correction after breaking trend support OANDA:XAUUSD , after breaking trend support, forms a small correction and stops its fall around 1916. A trend bounce is forming and the price is testing an important resistance Globally, gold is forming a global bearish price channel on the D1 chart, but on the dev timeframe we can also identify a sideways flat in the format of a symmetrical triangle. A breakthrough of one of the figura borders will form the strongest impulse to one side or the other. Locally, on H1, the price may soon test not only the resistance level, but also one of the local highs marked by the red dot. At the moment we are considering a scenario of further decline from one of the mentioned resistance levels, as the price is forging and realizing a global bearish set-up - a decline after a false resistance of the descending channel. Support levels: 1923.8, 1916 Resistance levels: 1926, 1932 I expect a retest of the resistance area before a further fall. The retest may be formed by a false breakout OANDA:XAUUSD CAPITALCOM:GOLD COMEX:GC1! CAPITALCOM:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
15
XAUUSD Sell inside the Channel Down, buy over it.Gold / XAUUSD is trading inside a Channel Down pattern since the start of the month. Today it hit the 1hour MA50 for the first time since Sep 4th and got rejected again. As long as the price is inside the Channel Down, sell and target 1910 (-0.72% decline). If it crosses above Fibonacci 0.236, buy and target 1933 (1hour MA200 and Fibonacci 0.5). Observation 1. Notice the bullish divergence on the 1hour RSI. Observation 2. All Fibonacci retracement levels are harmonically aligned with the Channel's Lower Highs. Follow us, like the idea and leave a comment below!!
FX_IDC:XAUUSD
by TheCryptagon
GOLD → XAU makes onslaught on limit support OANDA:XAUUSD continues to decline. Since the end of the last session the price forms a limit support level and forms a pre-breakdown consolidation. The realization of a false breakout of global resistance begins The price is forging a local support level, but still has not updated the previous one, formed in late August. Consequently, the market has a target in the near term. This target is 1914.8, also the following areas can serve as a target: 1912,8 & 1903.8. Let me remind - earlier we observed the break of the uptrend support on the background of TVC:DXY (dollar index) strengthening. There is also a possibility that the market may form a small correction to 1926 before falling further. At the moment, within the medium-term scenario, I stick to a further fall in the price of gold. The moving averages are forming a reversal signal (the signal is medium-term in nature). Support levels: 1916.7 Resistance levels: 1920 I expect the fall to continue either when 1916 is broken or after the correction to 1920-1925. OANDA:XAUUSD COMEX:GC1! CAPITALCOM:GOLD CAPITALCOM:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
GOLD → The scenario is confirmed. XAU turning red OANDA:XAUUSD is breaking support, MA50 & MA200 and is building momentum, making local lows along the way. Back in Sunday and the first two days of the new week, I talked about an impending fall from 1950. What happened? We see a 250 pip drop. After the retest of 1926, a new bearish impulse is forming. The local resistance level is doing its job. It is not certain, but the price may return to 1926 or 1932 for a retest before a further fall. On Sunday, at the global OANDA:XAUUSD review I talked about an impending decline as the price is testing the resistance of the global descending channel. On the local timeframe, this is all confirmed. The market could define the following zones as local and global targets: 1916, 1903, 1885. I expect the continuation of the fall both in short-term and long-term perspectives. Moving averages demonstrate stopping and change of trend. A strong medium-term signal may be formed in the near future. Support levels: 1916, 1914, 1903 Resistance levels: 1926, 1928, 1932 I expect a continuation of the fall based on the assumptions mentioned above and in earlier ideas. COMEX:GC1! OANDA:XAUUSD CAPITALCOM:GOLD TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
22
XAUUSD Quick buy opportunity but upside long-term limited.Gold (XAUUSD) may have formed a Golden Cross on the 4H time-frame but the bullish effect can only be short-term as the Falling Wedge pattern limits the upside below its Lower Highs trend-line. Regardless of that, ahead of an emerging 4H MACD Bullish Cross, we are using this opportunity for a quick buy that targets 1947.50. A closing below the 0.5 Fibonacci retracement level, invalidates that opportunity and opens the way to a deeper decline such as on August 02. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
4