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Gold Buy Confirm Chart Gold price is finding additional support, as the US Dollar meets fresh supply from a risk-on rally in the Asian stock markets. Investors cheer expectations of aggressive interest rate cuts by the US Federal Reserve (Fed) next year and pile up on global stocks. Further, China’s pledge to promote stable growth by expanding domestic demand combined with the People’s Bank of China’s (PBOC) liquidity injections boost risk appetite at the expense of the US Dollar.
OANDA:XAUUSDShort
by Fx_Jack17
1
GOLD BUY ASIAN SESSION HERE IS WHYDear ZTraders, Gold prices and interest rates often have an inverse relationship. When central banks signal impending rate cuts, it typically implies that they're trying to stimulate economic growth by making borrowing cheaper. Here's how this can impact gold prices: Lower Opportunity Cost: When interest rates decrease, the cost of holding cash or bonds increases because they offer lower returns. Gold, which doesn’t yield interest, becomes more attractive in comparison. Investors might shift their funds from low-yield interest-bearing assets to gold, boosting its demand and thus its price. Inflation Hedge: Rate cuts are often employed to combat economic slowdowns or to spur borrowing and spending. This can lead to an increase in inflationary pressures. Gold is considered a hedge against inflation. Investors might flock to gold as a store of value to protect their wealth against potential inflation, thereby driving up its price. Weakened Currency: Lower interest rates can weaken a country's currency as investors seek higher returns elsewhere. As a result, the value of the currency may decrease relative to gold, making gold more expensive in that currency. This can lead to an increase in gold prices in that particular country. Safe-Haven Appeal: In uncertain economic times, gold is often seen as a safe-haven asset. When rate cuts signal potential economic instability or uncertainty, investors may seek the safety of gold, increasing its demand and price. However, it's important to note that while there's often a correlation between rate cuts and gold prices, many other factors influence gold's value, such as geopolitical tensions, overall market conditions, supply and demand dynamics, and movements in the currency markets. Therefore, while rate cuts might influence gold prices, they aren't the sole determinants. As always, the relationship between interest rates and gold prices can vary based on specific economic conditions and investor sentiment, so it's not a foolproof indicator but rather one among many factors to consider when analyzing gold markets. Greetings, ZTRADES
FOREXCOM:XAUUSDLong
by ZILATRADES
GOLD BUY CONFIRM ANALYSIS FOR TODAY Gold price is making a minor recovery attempt near $2,020 early Wednesday, replicating the move seen in Tuesday’s Asian trading. Risk sentiment appears to be in a tepid spot, underpinning the Gold price alongside a pause in the US Dollar upswing. The US Dollar has stalled its two back-to-back days of recovery even though markets have turned cautious after Moody’s Investors Service downgraded its outlook on China’s government credit ratings to negative from stable. The rating agency, however, retained China’s “A1” long-term rating on the country’s sovereign bonds.
OANDA:XAUUSDShort
by Fx_Jack17
2
GOLD BUY CONFIRM ANALYSIS FOR TODAY The gold market attempted to catch its breath after a phenomenal day of trading yesterday. Registering a 5.42% round trip, the price of gold obliterated the prior swing all-time-high around $2081 only to retrace the move and end the day significantly lower. The RSI surged into overbought territory and has already recovered – highlighting the massive amount of volatility experienced yesterday. Today, however, trading has been more moderate, trading below the $2050 level but the uptrend remains well intact and well above the 200-day simple moving average (SMA).
OANDA:XAUUSDShort
by Fx_Jack17
Evaluating Gold's TrajectoryInterplay of Carney's "Failed Wave" and Elliott Wave Analysis Introduction: Is this another Gold trap? As we've observed, there have been several traps in this range, all triggered by harmonic patterns. Here we are facing another potential bearish setup. A breakout at $2,162 could signal a strong bullish trend, but there might be room for pause. Let's take a closer look. Understanding the Failed Wave: Scott Carney's "Failed Wave" concept is integral to our analysis of the gold market. This phenomenon occurs at the 1.13 Fibonacci extension level and can signal a potential market contraction and reversal if the price fails to close above it. Current Market Position: Gold’s interaction with the 1.13 extension level is under critical observation. A failure to sustain a move beyond this level might confirm the "Failed Wave," potentially initiating a bearish trend as predicted by harmonic patterns. Elliott Wave Consideration: The possibility of an Elliott Wave 5 truncation is noted, with Wave 1 starting on December 15th, 2015. Retracement zones are denoted in blue on the chart. If Gold Closes above $2162 this will start a wave 5 1.618 extension to $2370.36. Breakout Potential and Target Prices: If gold demonstrates strength by closing above the 1.13 level, it negates the "Failed Wave" scenario, potentially setting up a bullish progression. The breakout target zones are: • Intermediate Target: $2,162 (Significant resistance level) • Primary Target: $2,370.36 (1.618 Fibonacci extension) Downside Support and Target Levels: Should gold fail to maintain its momentum above the 1.13 extension, the following levels are critical: • Initial Support Level: $2,048 - Orderblock Support (A significant level) • Target 1: $1,959 - Terminal support • Target 2: $1,880 - 0.5 Fibonacci zone (Elliott retest) • Target 3: $1,812 - Harmonic T1 retest zone Trading Considerations: Traders might consider a dual approach, preparing for a "Failed Wave" with stop-losses above the 1.13 level & HOP level of $2162 at around $2190, and alternatively, considering long positions above this level targeting $2,370.36 at the 1.618 extension. Concluding Perspective: The gold market is at a significant technical juncture, with the price action near the 1.13 Fibonacci extension potentially dictating the mid to long-term market direction. The market is balancing between the potential for a "Failed Wave" and a bullish continuation towards the 1.618 Fibonacci extension target. Disclaimer: This report is for informational purposes only and does not constitute financial advice. Investors should conduct their own due diligence and consult with financial advisors before making any investment decisions. Trading involves risks, and personal risk tolerance and investment objectives should be carefully considered.
TVC:GOLD
by TechChartMark
2
GOLD LOL - Heavy Manipulation on GOLD | Saw it coming days ago!Hey guys what's up Brandon here, @ekatatrading, this idea isn't to give a signal - it is more so to give my understanding of why I thought that gold could do something like this weeks ago, I will link these Tradingview ideas in this post. Sellers really didn't understand that any sell they would have taken would have been an induction, it didn't mean that you couldn't sell - it simply meant that you had to be aware that the sell would have been temporary, this is something that I would have mentioned in EVERY SINGLE POST I MADE REGARDING SELLS in any way on gold. The sell was always meant to be a short term thing on gold because again as we know - the gold market is and always has been bullish. Given the circumstances now - I highly advise against placing trades in ANY DIRECTION on gold - whether it be buys or sells, as if you just check most brokers you'd probably realize the spreads are much wider than normal and gold is easily jumping hundreds of pips in literal seconds. Not good for an entry in my professional opinion. Just imagine, other "professionals" are telling you to sell now because again they don't realize that it's still very much a heavy induction (manipulation) and here I am - just a simple guy who likes explaining what I see, telling you that trading now may not be the best idea. It's also quite interesting, most people won't read this entire post and an even smaller percentage of people who actually take the time to read what I am saying will take me seriously, but I guess that's why a small group of traders actually make all the money in this industry right? The money has to come from somewhere lol Downvote\ don't boost if you didn't read this entire post and don't understand OR Upvote\ boost if you did read this entire post and do understand Follow to see more heavy in-depth analysis like this in the future - I don't sell signals, I give my analysis here on Tradingview FOR FREE! Can your signal provider do that?
OANDA:XAUUSDLong
by Brandon_evo4
2
GOLD is such a dirty dirty ASSetWhat's up guys Brandon here, good morning.. So I did speak to this exact thing yesterday with my last mind suggesting that sells had expired I was busy and I missed to call out an entry but I want to explain why I think gold did what it did All things considered I did see this coming and if you go on my tradingview profile and tap on "minds" you'd see the trajectory of where my head was at So without further ado - let us begin (WARNING - this may be long lol) SO Firstly - we have (in purple) sellers selling as price drops - I believe sellers would have been doing this because that is what traders who do not understand what the market is really doing would have done. I believe that regardless of what direction the market is actually going there will always be some poor sap trying to sell what he thinks is the highest high. The reason I never recommend this is because obviously there is no way to determine where the highest high is - in my experience price can and WILL always go high (at some point) So we know that sellers would have injected liquidity into these areas with the purple lines This then secondly brings me to the turquoise zone which is where we know buys who see "support" would have been buying We know that that is the case because the very Third thing we then saw was price smashed through that area (highlighted in orange) without even thinking about it By smashing through that level all the buyers who had stops below that level would have been taken out It is around this time I spoke about being more interested in sells (temporarily) don't take my word for it...go to my tradingview profile to confirm what I said I am not like other people who post here and say .."didn't I tell you so", when in fact they didn't and even when they did - they gave no reason as to why they see what they saw I break it down because I want you to build out a picture so that you yourself can understand But I digress After destroying the buyers stop losses, We know that this is a bullish market so the dealer's real target would be the buyers because by buying the market sellers would be taken out automatically should it keep buying The question is how would the dealer destroy the buyers - The traders on the right side of the move? By doing what he did below the turquoise zone... Lastly once he broke back above that turquoise zone (highlighted in pink) you see price stumble there for a little bit as the dealer tried to capture any last minute sellers trying to sell the retest And the dealer absolutely destroys sellers with a +192 pip move upwards (right back to where the first set of sellers sold) - interesting right? NO, it's messed up that that was the dealers plan all along The reality is the way that I trade - instead of trying to identify the pattern - I try to look for the reason for the pattern and that is why my explanations are always so long Most traders don't stop to think about "THE WHY" they only see "the what" Now that the dealer has taken out traders who thought they got the timing right (buyers who were early) the dealer is free to buy without worrying about if he has taken out majority of the liquidity My apologies for the really long explanation but I hope that you took the time to read this If you did, don't be afraid to leave an upvote Let's see what happens today
OANDA:XAUUSDLong
by Brandon_evo4
2
GOLD CONFIRM PREDICTION & ANALYSIS FOR TODAY Gold continues to move lower after hitting a $2,009/oz. peak in late October. The move lower, despite the ongoing military action in the Middle East, is being driven by a general risk-on sentiment that has pushed safe haven markets lower. As long as this remains the case, gold will struggle to push higher. The technical picture is mixed with a negative series of short-term lower highs and lower lows meeting a positive reaction from the 200-day sma that is currently supporting the precious metal. The CCI indicator shows gold as oversold, but not in extreme territory. Today’s inflation report will steer gold in the coming days. BUY TARGET 1996 CONFIRM TARGET 🎯
OANDA:XAUUSDShort
by FxJack17
1