GOLD (XAUUSD): Bearish Outlook For Next Week Explained
Gold closed this week, retesting a recently broken
significant daily horizontal support - a lower boundary
of a wide trading range.
With a high probability, the price will drop from the underlined zone
all the way down to 2563 - the next important structure.
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Goldfreesignals
GOLD (XAUUSD): Buying After Pullback
With a yesterday's bearish movement, Gold dropped to
a key intraday/daily horizontal support.
A cup & handle pattern formation on that is a reliable signal to buy.
With a high probability, the price will reach 2769 level soon.
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XAUUSD Top-down analysis XAUUSD is in all time high.
Monthly : Historically GOLD is bullish we see market just has broken out of the previous monthly high and currently approaching a new level. As the momentum is high, this week we may see further upside.
Weekly: After back to back 2 weeks of bullish momentum, this week we have seen that market again started to bounce back up with strong bullish engulfer. As Weekly price is in expansion face we may see this week as well a bullish momentum.
15min : This is the timeframe I will be intending to enter the trade. We can identify the support trend line will be waiting for a potential break of structure to the support for entry as explained in the video.
XAUUSD Big Move Will be there? | 2h Analysis Hello, community! 👋 How are you all doing this week? I hope you’re ready for some insightful trading opportunities. Let's dive into the analysis for XAU/USD (gold), as it looks promising for a bearish trend.
Market Overview
This week, XAU/USD is presenting a potential bearish scenario. After observing the current market conditions and price action, I’ve identified a key resistance level at 2641. This level is critical for our bearish outlook, and I’ll explain the setup in detail.
Key Levels
Entry Level: 2641
First Target: 2603
Second Target: 2580
Third Target: 2547
Stop Loss: 100 pips above the entry (approximately 2741)
Trading Strategy
Entry Confirmation:
Wait for a clear rejection (chock) at the 2641 level before entering the trade. This confirmation is crucial to ensure that the bearish momentum is established.
Target Management:
The first target is set at 2603, which is a realistic point to take partial profits.
The second target at 2580 provides a further profit-taking opportunity as we approach the anticipated bearish trend.
Finally, the third target is 2547, representing a solid point for potential further downside.
Stop Loss Consideration:
Place a stop loss 100 pips above the entry level, allowing for some volatility while protecting your capital. This positioning ensures that any unexpected bullish movement does not significantly impact your account.
Conclusion
In summary, the bearish outlook for XAU/USD appears favorable this week, with strategic entry and exit points. Remember to wait for that crucial rejection at 2641 before executing the trade. Let’s stay disciplined and focused, and I wish everyone a week full of profitable trades! 🌟
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GOLD (XAUUSD): Consolidation Trading
I see a perfect horizontal range on Gold on an hourly time frame.
After a test of its support, a tiny cup and handle pattern was formed.
Bullish breakout of its neckline gives a perfect bullish confirmation.
We can expect growth to 2506 now.
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GOLD (XAUUSD): Technical Outlook & Things to Watch Next Week 🥇
After the test of a major horizontal daily demand cluster, sellers look weak on Gold.
Analyzing the price action for the last 3 weeks, I spotted a completed inverted head & shoulders pattern.
1925 - 1941 is the neckline of the pattern.
Bullish reversal will be confirmed once a daily candle closes above that.
A bullish continuation will be expected then to 1957.
Remember, that at the moment the neckline constitutes a solid resistance,
so I strictly do not recommend buying now.
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GOLD (XAUUSD): What to Expect Next Week? 🟡
As I predicted, Gold dropped this week.
The price successfully violated 1924 - 1940 horizontal demand cluster.
The broken structure turned into a supply area from where we saw a strong rejection of Friday.
I do believe that the market will keep falling next week.
Next support - 1900.
If the price goes higher, watch a falling trend line.
That will be the next resistance on focus.
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