GOLD H1 / SHORT TRADE ACTIVATED / STRATEGY CONFIRMED ✅Hello Traders!
In the previous analysis, I expected a retracement from the resistance level and I was looking for a short-trade from the OB.
Now we can see a very clear retracement. A good opportunity to execute short trades for scalpers or on small time frames.
Congrats to those who executed the trade.
Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective.
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Goldsell
Gold melting a little?In the final days in December gold's strength has started to weaken. Wednesday December 27th 2023 is the last high we saw gold peaking around 2088.41. A massive and consistent downtrend has come right after that with a clear formulated structure with lower-low's and lower-high's. Monday January 08th 2024 is when we saw a pull-back and momentum revitalize it's self with going stabilizing itself seeing more stride with it's price trying to gain value back to the upside. Yesterday Tuesday January 9th 2024 during New York session it's seemly lost it's momentum but we can see that Monday's New York session has made clean traffic with price to the upside which in turn will be great for pin pointing where gold will go.
*** KEY ANALYSIS ***
I'm looking for GOLD to break and CLOSE under 2023.83 on a 30M time frame. This will confirm more of a downtrend considering the clean traffic and move up from Monday New York session that had alot of volume
-- Close under my zone at 2023.83
Target 120 pts on candle break and close.
Stops: anywhere above opposite side of the zone at 2027.43
Gold: $2,025 - After US Inflation, What's Next?Gold: $2,025 - After US Inflation, What's Next?
Gold's short term prospects might be dependent on upcoming US inflation data for December. XAU/USD currently trades at $2,025, stepping back from an intraday high of $2,042.
On Thursday, the US will release the Consumer Price Index for December. The market is expecting a 0.3% monthly increase in Core CPI, excluding volatile food and energy prices, in line with November. If the monthly core CPI exceeds 0.5%, it could push up US yields and weigh on XAU/USD. Alternatively, a softer-than-expected CPI reading may keep expectations for a Federal Reserve policy shift alive and perhaps help keep gold above $2,020.
Technically, the 4-hour chart suggests a downside risk for gold, trading below its 20 Simple Moving Average at around $2,036. Conversely, the initial resistance for XAU/USD stands at $2050, where the 50- and 100-day SMAs are converging. The daily high on January 5 at $2063.98 might be the next level to keep an eye on to the upside.
Looking to short under zoneLooking to short price for 120 pts if candle closes ONLY below my zone under 2040.43. The candle has to close before i consider it as my first confirmation. My second sell Limit or executed market price trade will be at the upper end of my zone at 2043.62.
I will only execute my second trade once price reverses before hitting my target area for 120 pts after new candle closes below the zone
Forming a short-term DOWN trend, correction⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
There is no important US economic news today, mainly based on technical analysis according to the Gold chart
⭐️ Personal comments NOVA:
Prices are forming a downward wave pattern in the short term. According to fibonacci, Gold prices need a DOWN adjustment period to continue creating more liquidity for the market in early 2024.
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2047 - $2045 SL $2040
TP1: $2052
TP2: $2060
TP3: $2074
🔥SELL GOLD zone: $2074 - $2076 SL $2080
TP1: $2068
TP2: $2060
TP3: $2050
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Gold will continue to fall
Today the price of gold fluctuates in a range. The short selling range I suggested to you on the channel has helped many people. Tomorrow we will focus on the price line of 2047-2050. If it is not exceeded, gold will continue to fall, with the target of 2025.
Recommended operating strategies:
sell 2047-2050 tp2035-2030-2025 sl2055
If you like my analysis, you can like it and join me
I will update my thoughts if there are any changes in gold price trends
Gold Setup | H1 Gold Setup | H1 Time Frame
We are expecting gold will retest the point 2070 Probably gold will reject this point and expecting to touch 2040 the main support for past weeks
In Past Analysis we catch more then 100 Pips on Bullish move
Still Our Aim is to catch more pips on sell setup of Gold
hopefully enjoy the trades with proper Risk management 1%
Cheers for the next setup
GOLD WILL BLAST IN SELL CONFIRM PREDICTION Gold price (XAU/USD) trades with a mild positive bias for the third successive day on Friday, albeit lacks follow-through and remains below a one-and-half-week high touched the previous day. Against the backdrop of Friday's stronger-than-expected monthly jobs report, the upbeat US macro data released on Thursday pointed to a resilient economy and raised doubts about an early policy easing by the Federal Reserve (Fed) in March 2024. This leads to a modest recovery in the US Treasury bond yields, which, along with the prevalent risk-on environment, bolstered by hopes for additional stimulus measures from China, turns out to be a key factor acting as a headwind for the safe-haven precious metal.
Here are my thoughts on gold trading
For newbies. It is often more reasonable to follow a good trading signal than to trade randomly on your own.
There is no news impact on gold today. Regarding the trend, I think it is still possible to buy at low levels and sell at high levels. The 1980-1984 range is a good selling point. 1974-1970 is a good buying position. If there is no suitable trading opportunity, you can wait patiently. The best result is that your account will not be damaged.
I just sold some gold at the 1981 position. For now, we are patiently waiting for the market to fall.
If you are a newbie, you will not be able to complete transactions independently yet. You can refer to my trading ideas. Hope it helps you.
Gold Upcoming Move For SellGold price (XAU/USD) reverses an early European session dip to over a three-week low and climbs back above the $1,982 level in the last hour. Any meaningful appreciating move, however, still seems elusive amid the uncertainty over the Federal Reserve's (Fed) near-term policy outlook, which might hold back traders from placing aggressive directional bets. Hence, the focus will remain glued to the outcome of the highly-anticipated FOMC policy meeting, scheduled to be announced later today.
Xauusd:Resistance to sell
At the time of the risk of key central bank events, the market will face the release of US consumer inflation data within the day, which will play a key role in influencing market expectations of the Fed's next policy actions.U.S. consumer price index (CPI) inflation is expected to be mixed at the front end of the curve. The core consumer price index is expected to jump from 0.2% to 0.3% in November, while year-on-year data is expected to rise slightly from 3.2% to 3.1%. A slight decline.It is expected that the price of gold may hit a low again.
Judging from the chart, gold is still in a downward trend. The top focuses on the resistance of 1992-1997, and the bottom looks at the low points of 1975 and 1950, but beware of the impact of CPI data on gold.
From a technical point of view, the daily line is currently in a downward trend, and the lowest point of support for the daily line Bollinger band is 1950. The decline of this wave of gold must at least see 1950 to observe whether it can rebound effectively.
So we still choose the resistance point to sell. You can observe 1992-1997, 2007-2009, choose the right position to sell, and plan your position reasonably, so that your success rate will be greatly increased.
If you don't know how to trade, join me and let us learn together to improve the success rate
GOLD WILL GO SELL CONFIRM CHARTToday’s Nonfarm Payroll report is expected to show 180k new jobs created in November compared to 150k in October, while the unemployment rate is expected to remain unchanged at 3.9%. A lower-than-expected number will underpin expectations that the Fed will start cutting interest rates at the end of Q1/start of Q2 next year. The latest CME Fed Fund probabilities see a total of 125 basis points of rate cuts in the US next year.
Gold Sell Confirm 2010 Target
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.
Bank holiday! Slowly today XAU⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The recovery in the price of gold (XAU/USD) has lost its momentum after pulling back from $2,006 earlier in the Asian session on Thursday. The positive US consumer sentiment report has led to an increase in US Treasury yields and a stronger US Dollar, which has attracted some sellers of the yellow metal. Market activity remains subdued as the United States prepares for the Thanksgiving Day holiday on Thursday. Currently, the price of gold is trading around $1,990, showing a slight increase of 0.02% for the day.
At the same time, the US Dollar Index (DXY), which measures the value of the USD against a basket of six major currencies, is hovering around 103.88. The yields on US Treasury bonds are also rising, with the 10-year yields climbing by 4.40%. This upward movement in yields puts pressure on gold as investors see US Treasury yields as a more attractive investment compared to non-yielding metals.
⭐️ Personal comments NOVA:
Today is BANK holiday in the US market. There will not be much fluctuation today, the price is mostly sideways and in a cumulative correction
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $1980 - $1982 SL $1977 Scalping
TP1: $1985
TP2: $1988
TP3: $1991
🔥BUY GOLD zone: $1968 - $1970 SL $1960
TP1: $1980
TP2: $1988
TP3: $1995
🔥SELL GOLD zone: $1994 - $1997 SL $2001
TP1: $1988
TP2: $1975
TP3: $1968
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
XAUUSD GOLD on 20-11-2023XAUUSD can go Bullish if,
H1/H4 closing happens above 1985, it can move bullish upto 2005 level.
or it can go Bearish if,
H1/H4 closing happens below 1970, it can move bearish upto 1950 level
#️⃣ Trend expectations from 8:00AM to 12:30PM USA Time EST.
#️⃣ Trade with 1-2% risk only.
Gold Possible 150+ Pip Short Setuphello traders this is a scenario that i expect for next week for gold keep an eye on fundamentals like fomc coming up.
the yellow zones are my areas of interest they are also actually fibbonacci levels the market seems to be respecting them so i am using them i also identified a minor up trend and a downtrend from when the price reached the 2000s.
if the price breaks the the yellow zone which serves as a Support + Fib level + Neckline of head and shoulder and also breaks the trendline i believe we will see gold back to the 1960s