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Goldlong

XAU/USD: Correction to Support?Upside Momentum Slowing on the Monthly Chart Despite the yellow metal working with a clear uptrend and shaking hands with fresh record highs, momentum to the upside has noticeably decelerated. This can be observed through price action and the Relative Strength Index (RSI) on the monthly scale, which tests overbought conditions and exhibits the possibility of negative divergence. Breakout in Play On the daily timeframe, gold recently ventured north of a consolidation between US$2,363 and US$2,470 late last week and also broke through the upper boundary of an ascending channel extended from the high of US$2,450. Consequently, before buyers attempt to take things higher, a textbook correction and retest of the breached boundary (black circle) could be seen to potentially deliver support. Dip buying? H1 Technicals Converging with Daily Structure Following the recent all-time high, H1 flow has pencilled in the beginning of an early short-term downtrend (lower low, lower high and subsequent lower low). What jumps out on the H1 chart, however, is support coming in at US$2,477, which happens to converge with H1 trendline support, taken from the low of US$2,381, and the breached resistances on the daily chart. This H1 area of support is also located just south of the higher low at US$2,485 formed on 19 August (black circle). Since traders often position protective stop-loss orders beneath swing lows like US$2,485, whipsawing beneath this boundary could attract larger buyers looking to hit the offer from the noted H1 support on the back of the fresh liquidity. Price Direction? While upside momentum is slowing on the longer-term monthly chart, a correction on the daily chart to the recently breached resistance could be seen. This move may prompt dip buying, particularly from H1 support around US$2,477, which shares chart space with daily structure.
FPMARKETS:XAUUSDLong
by FPMarkets
2
Buy Gold (Xau/Usd) Bullish ChannelThe XAU/USD pair on the M30 timeframe presents a potential Buying opportunity due to a well-defined Bullish Channel 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 2516, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 2551 2nd Support – 2573 Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
OANDA:XAUUSDLong
by KABHI_TA_TRADING
1
GOLD - Rockin' Higher (MACRO BULLISH!!!!)From a macro perspective, the bullish trend has just been confirmed. With the current worldwide uncertainty regarding monetary policies, the wars going on and the political conflicts people tend to swift towards safe havens like gold since their store of value does not deteriorate in an economic crisis, it's always on demand and easily convertible. History doesn’t repeat itself but it certainly rhymes. We have two active Time at Mode weekly bullish trends. First trend expires mid September with the highest target of $2,900. Second trend expires in November with the highest target of $3,100. Combining both short and longer term trends, we could easily expect price continuation toward $3,000's by the end of the year.
COMEX:GC1!Long
by ZelfTrade
GOLD Pre\Post Analysis | Closing w\ $648.00 USD Profit TodayI do believe gold is going to continue to buy. As much as I know traders are interested in selling at the high, I don't think it is that probable to take that trade and the more you think of every trade in terms of probability, it saves you from taking some really shit trades, honestly. Would you take a bet that you are either A. unsure you can win or B. know you will lose? Of course not, so why is it you take trades like that? Take smarter trades.
OANDA:XAUUSDLong
by Brandon_evo4
8.2 Analysis of gold trend operationAfter hitting the peak of 2530 on the 20th, gold fluctuated at a high level and finally quickly pulled back. Currently, it is 2505 points. Yesterday, gold failed to hit 2530 several times. The last time it hit 30, it quickly fell back. This also shows that the bulls may continue to hit the high point after the pullback. The key downward support point is 2500. If it falls below 2500, look at 2490 / 2480 below. Resistance points are 2520, 2530, and 2550. What do you think about gold? Welcome to like and comment.
TVC:GOLDLong
by David_strategy
Gold is Roaming around , preparaing itself for bullish movementHello Traders In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET today Gold analysis 👆 🟢This Chart includes_ (GOLD market update) 🟢What is The Next Opportunity on GOLD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
OANDA:XAUUSDLong
by ForexMasters2000
8.20 Gold Trend Analysis2500 Golden Era has officially stabilized and will move towards 2600 in the future Gold fluctuated and jumped from a low of 2486 to 2510 during the European session on Monday The bulls are still continuing today. Currently, the gold price is trading at a high of 2523. On the Bollinger Bands, gold is below the middle track. The hammer line is long. If it touches the bottom, it can be bullish In addition to the geopolitical situation, everyone is currently pinning their hopes on the trend of gold on Friday when Fed Chairman Powell will give a speech on the economic outlook at the Jackson Hole Annual Meeting Support level 2515 2510 2500 Resistance level 2525 2535 2550
TVC:GOLDShort
by David_strategy
XAU/USD Gold has potential (Updated)Hi everyone, this post is written to improve and update my previous idea on Gold. You can check my previous idea... but this post will cover it all anyways. To skip the long read, I've summarized the idea at the end. I'll start with a broad overview to keep things clear... And as time passes, and gold plays out, I will update the post to include more solid ideas. This time, I've zoomed out the older snapshot from the other post since gold is trying to break out of this 10-year trend. In my understanding, recently politics are getting heated, more and more people are turning their capital into Gold. And given that it is already at an all-time high, it is possible that this trend can be broken. With that said, this post will solely investigate the technical analysis aspect of Gold. I'm writing this idea to predict whether the ongoing bullish behavior will continue or not, rather than to find an entry point. In my previous analysis, this was the general trend over the long term (almost 10-year trend). It showed resistance as I expected (2450). Of course, it is such a strong trend and sell pressure was expected. 1st time it got rejected at 2450 but after 1 months of recession, recently Gold fired back up to 2500 for the 2nd time. And as of right now, it is trying to break out of this 10-year trend. If it does continue going up, 2700$ is where I am expecting to see some actual resistance. To confirm this as a breakout I have looked at the possible uptrend driving the price which I've approximately shown as the pink trend, within the 10-year trend. Inside the pink trend, the trend shown with white is the bullish trend that started in 2023 and is going on since. This trend does also indicate that with the current momentum, reaching 2700$ is possible. But we have to keep track of the price as Gold may face some resistance between 2545-2575$ as stated on the next image. This is the YTD view. Within the white steep uptrend, I believe Gold is currently rising within the channel shown. Pink line shows approximately the upper boundary of the bigger trend from the previous view. Recently Gold gained pace and even broke out of this pink resistance zone, starting another uptrend after months of trying. We can't be certain of anything at the moment. For the time being, I won't go into more short-term analysis, because more information is needed and currently it has a clear upwards momentum. If we do indeed reach around ~2570 than a more detailed lower timeframe analysis can be helpful to see if it can continue moving up. I will update this post from time to time, as more information is necessary. Predictions, today, Aug 20, some resistance around 2530$ 2-3 day target 2545-2550$ overall target; if it does continue bullish 2700$, and in years target (~4000?) Just to keep in mind, If it fails to keep these levels and a reversal happens, It is possible that for months it can go back to 2200$ for a retest. Even though I think it is less likely, if a lot of sell pressure happens and the pink trend cannot be broken. More sell pressure will be added when Gold falls below 2400$ and eventually can end up following a trajectory like this. In either case Gold has huge potential on the long run, and I don't think it is wise to risk shorting Gold anytime soon. Please do your own research before taking any risks.
OANDA:XAUUSDLong
by Kivvwi
GOLD Analysis | Intraday Chart ForecastHi Traders! Gold prices rose to a record early on Friday as the dollar and yields fell on firming expectations the Federal Reserve is ready to begin lowering interest rates as U.S. inflation eases. Gold for December delivery was last seen up US$27.40 to US$2,519.80 per ounce, topping the record high of US$2,507.80 set on Tuesday. The rise follows on economic data this week showing inflation slowed last month while retail sales surged, easing recession worries while strengthening expectations the Federal Reserve can begin cutting interest rates, which are at a 23-year high, when its policy committee meets next month. "Gold's data dependency remains paramount, as jobs, inflation, and economic data all have the potential to clarify the Fed's path and future monetary policy," Christopher Louney, a commodities strategist at RBC Capital Markets, said in a note. The dollar moved lower, with the ICE dollar index last seen down 0.27 points to 102.71. Treasury yields also fell, with the U.S. two-year note last seen paying 4.056%, down 4.5 basis points, while the yield on the 10-year note was down 2.4 basis points to 3.891%. From technical point of view, Trend is bullish and if we look at 1H chart, Gold is forming impulsive structure 12345. If this analysis is correct, in the short term GOLD should trigger a corrective structure (Wave 4) before another bullish leg. Thank you for watching.
OANDA:XAUUSDLong
by TheAnonymousBanker
7
Gold Trade : Bullish Momentum AheadXAUUSD has been making bullish trend through 2041 making higher highs and higher lows and is holding towards the liquidity zone 2506 2505.Price action and market structure also shows bullish trend and also a double bottom pattern is evident around the 2380 2385 level indicating a strong support area. there is also a news which would support us in bullish momentum Our technical analysis and market indicators suggest a positive trend for gold in the next trading session. Investor can expect a potentially lucrative opportunity to capitalize on the bullish momentum.
FOREXCOM:XAUUSDLong
by sabellaFX
XAU/USD Longs from 2,460.000 back up?As price has made new ATHs and swept that liquidity, I now expect price to retrace and come back down, as it seems like the bullish pressure will gradually die down. Once this happens, it will likely cause a correction, bringing the price back down to the 19-hour demand zone. Once price enters the zone, I will wait for a Wyckoff accumulation on the lower time frame, which will allow for a precise entry. If price breaks past the zone and enters the daily demand, then I will expect a major buyback, as it's a valid zone sitting at a cheap price. Confluences for GOLD Buys are as follows: - Price has taken ATHs, indicating that it is very bullish on both the higher and lower time frames. - A lot of liquidity has been swept, so price will likely retrace to continue its order flow. - There is a strong demand zone that has caused a break of structure to the upside. - Imbalance above the 19-hour demand zone needs to be filled before mitigating demand. - This is a pro-trend trade idea, and with ongoing wars, I only expect gold to become more bullish. P.S. If price changes character to the downside and leaves a significant supply, I will then wait for a short-term sell to take it back down toward my original POI (19-hour demand zone).
OANDA:XAUUSDLong
by Hassan_fx