Gold-short
XAU/USD 02.08.2023FOREXCOM:XAUUSD
Hello traders,
Thank you for sharing your trading plan. It appears you are currently looking for potential sell positions for the day. Your strategy involves waiting for a retracement back into the area of the 61% Fibonacci retracement level, where you will be considering entry opportunities for your short trades. Keep a close eye on the price action and ensure your risk management is in place to navigate the markets successfully. Wishing you profitable trades and a successful trading day!
GOLD Is Going Down! Short!
Take a look at our analysis for GOLD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1948.85.
The above observations make me that the market will inevitably achieve 1930.69 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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GOLD BEST PLACE TO SELL FROM|SHORT
Hello,Friends!
GOLD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1927.249 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GOLD pair.
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XAUUSD Weekly analysisI've tried to make this as clear as possible, but we can see in the past when Gold has moved above 2000, it returns to the 1900 level where it rejects, before retesting the 1980-2000 range and then moving down towards the 1900 level and even lower.
This is a key market structure and pattern we have seen play out with Gold, which is a very technical pair. When it comes to swing trading/scalping being able to zoom out and take a look at the bigger picture helps to give a greater understanding of the bias to allow trades maximum room to push.
GOLD Will Fall! Short!
Here is our detailed technical review for GOLD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1981.93.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1947.61 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GOLD market analysis forecastSAXO:XAUUSD
Hello traders,
Today, we witnessed a strongly bullish move in the gold market. However, for tomorrow, I'm shifting my focus towards a potential bearish trade setup. There's a substantial resistance zone around 1980.00, which interestingly aligns perfectly with the Fibonacci retracement level of 68%. For a more confident bearish stance, I'll also be closely monitoring the DXY (US Dollar Index) for a bullish move above 100.000, as it could influence the gold market in a downward direction.
However, it's important to remain cautious of any news regarding the dollar, as such developments can swiftly alter the market's direction.
GOLD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello,Friends!
GOLD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1944.153 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GOLD pair.
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Gold: Bearish volume takeoverSAXO:XAUUSD
Hello traders,
For tomorrow, I am expecting bearish momentum in the gold market. Currently, there is a noticeable bearish short-term trend in place. Moreover, we have witnessed a significant retracement to the Fibonacci level of 78%. Based on this setup, I am looking for a potential move back to the levels around 1940 or possibly even 1936. These could be potential target areas for short positions in the market.
However, it's important to remain cautious of any news regarding the dollar, as such developments can swiftly alter the market's direction.
XAU/USD bearishSAXO:XAUUSD
Hello traders,
For the upcoming week, I am anticipating bearish momentum in the gold market. I will be monitoring for a potential move up to the Fibonacci levels, as well as considering the presence of a strong resistance zone. Additionally, I will be closely observing the DXY (US Dollar Index) for a break above 100.000, as this could potentially indicate bullish momentum for the dollar.
The take profit areas I am considering are the Fibonacci levels of -0.27 and -0.681, which coincidentally align with the main level at 1950.00. These levels present potential targets for capturing profits in the trade.
However, it's important to remain cautious of any news regarding the dollar, as such developments can swiftly alter the market's direction.
GOLD BEARS ARE GAINING STRENGTH|SHORT
Hello,Friends!
The BB upper band is nearby so GOLD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1929.218.
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GOLD BEARS ARE GAINING STRENGTH|SHORT
Hello,Friends!
GOLD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1941.404 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GOLD pair.
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GOLD SHORT FROM RESISTANCE
Hello,Friends!
We are now examining the GOLD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 1904.057 level.
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GOLD BEARS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
GOLD pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 7H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1894.977 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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XAUUSD short in londonSAXO:XAUUSD
I'm currently seeking bearish opportunities for tomorrow. Today, we observed a failure to break the high of 1931, alongside the formation of a robust support/resistance level near 1926.50. My plan is to monitor for either a retest at 1926.50 . Once a bearish candle forms, I will enter the trade and set my stop loss above the high. My take profit targets will be approximately 1920 or around 1917.
GOLD Will Go Lower From Resistance! Sell!
Take a look at our analysis for GOLD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 1927.96.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 1895.21 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GOLD Is Very Bearish! Sell!
Take a look at our analysis for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1919.39.
The above observations make me that the market will inevitably achieve 1900.67 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
Like and subscribe and comment my ideas if you enjoy them!
GOLD Will Go Lower! Sell!
Take a look at our analysis for GOLD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1909.47.
The above observations make me that the market will inevitably achieve 1899.41 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
Like and subscribe and comment my ideas if you enjoy them!