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GOLD 1H : Still support further decline GOLD New forecast The price perfectly fulfills my last idea and we closed our profit at +50 pip . The price of gold continues to move in narrow paths, and therefore, there is no change to our expectations for the downward trend, which depends on stability below 1993, waiting to visit the 1975 and 1962 level as the next main targets. Therefore the downward scenario will be remain valid an effective during coming period , taking into account that breaching 1993 will lead the price to attempt to restore the main upward trend and achieve gains that begin by testing the 2006 level. . The expect range trading for today it will be between resistance line 1993 and support line 1962 until stabilized . Additionally ,Today News will affect the market . support line : 1975 , 1962 resistance line :1993 , 2006 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OANDA:XAUUSDShort
by Arazmajeed
💡GOLDOZ: Signs of decline are forming?Gold had its second consecutive day of price decline after the news Employment Cost Index q/q and CB Consumer Confidence were announced. The H1 gold price push down has broken through the accumulation price range above to go down, but has not created a new low price bottom and broken the latest bottom, so it has not created a downtrend. With the current downward pressure on prices, H1 gold can wait for a rebound to sell. If the price is pushed up to the old peak, it is a sign that H1 gold is stronger again, then you can wait to buy.
TVC:GOLDShort
by Stone_Haven
THE KOG REPORTKOG REPORT: In last week’s KOG Report we said we would like to see how the market opened and how the lower support regions 1975 and below that 1968 would hold up price. Based on these levels holding we suggested opportunities to long the market to firstly attempt the break of the 2000 level and then the target region of 2015. We gave the order region 1950-55, price bullish above, and KOG’s bias of the week level 1970 bullish above with target levels 1999 and 2015 for the week. As you can see, price did hold above with a slight dip lower than 1968 but we stuck with KOG’s daily bias which was shared daily with traders and completed not only the 1999 level, but also numerous level to level gold targets on the way up with 2015 still open! A great week for us on the markets, not just on Gold but the numerous other pairs we trade and share netting a phenomenal pip capture for our traders. So, what can we expect in the week ahead? To start with, with can expect more aggressive price action across the markets so please trade carefully, or, don’t trade at all. Money is also made while sitting and cash in your account is a position in the market. New traders should ideally be watching and practicing, using this time to further educate themselves and develop their strategies. These markets are only after one thing, your money! If you get this wrong, it can go horribly wrong, so levels, entries, exits and your risk model are really important. The chart shows the levels for the week we have highlighted with the key reaction zones we’ll be looking at. We’re still open for last week’s target level at 2015 but a pull back would be ideal. For that reason, if we start with bullish momentum into that resistance level and hold, based on a clean set up, we feel an opportunity to short the market is on the cards, initially into the immediate support 1995-90 and then below that 1975. Our bias remains as bullish above, however, there is a chance there may be some profit taking this week, so expect the unexpected, if that level breaks, we’ll be looking lower into the 1950-55 region to then attempt the long trade. On the flip, if we start the session and week with a move to the downside, we will be looking for immediate resistance levels to hold and take this down into that 1975 region level to level on the short side looking for support levels to hold in order to take this back up into that 2015 level and above that 2022. We’ll use our daily bias and targets as well as the red box strategy together with our trusted Excalibur to guide us. What we don’t want to do here at this point of the market is buy upside when there is potential for this to correct some of this move. So levels are key here! Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
Gold's safe-haven behaviorIn the previous idea about gold, we expressed skepticism for overly bullish prospects in the short term (in the long term, we stay bullish). The main idea behind that is gold often reacts (initially) positively to geopolitical tensions, stock market weakness, or any type of disruptive event. Nevertheless, even if persistent, these events (or disruptions) eventually start to be priced in and ignored by market participants. Depending on many external factors, the periods of an initial positive reaction vary in length and strength. Below are charts illustrating this relationship between gold and SPX. Illustration 1.01 - 2021 market peak Illustration 1.01 shows the daily chart of XAUUSD. The orange line represents the S&P 500 Index. It can be observed that in late 2021 when SPX started to fall, gold reacted positively at first. However, this positive reaction lasted only for about two months. After that, gold started to follow the stock market to the downside. Illustration 1.02 - COVID-19 stock market crash The image above displays the daily chart of XAUUSD. The orange line represents the S&P 500 Index. Again, gold can be seen rising in an initial reaction to the COVID-19 stock market crash but falling later. Illustration 1.03 - 2007/2008 crisis Illustration 1.03 portrays the daily chart of XAUUSD and SPX (orange line). After the stock market peaked in 2007, gold continued to rise. In fact, it managed to go on an approximately 200-day rally before finally reversing to the downside (this is one of the strongest positive reactions in gold to the weakness in stocks). Illustration 1.04 - 1987 crash (Black Monday) Illustration 1.04 shows the daily chart of XAUUSD and SPX (orange line). In response to the 1987 crash, gold rose for 111 days. Interestingly, its peak coincided with the stock market's bottom. Illustration 1.05 - 2010 flash-crash Above is the daily chart of XAUUSD and SPX (orange line). During the May 2010 selloff, gold reacted positively to the weakness in stocks at first. Then, it erased nearly all of its gains, rebounded again, and erased gains for the second time. Technical analysis Daily = Bullish Weekly = Slightly bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSD
by Tradersweekly
2
Gold (GC1! Futures) Intraday ShortAfter Sunday's open, we are now back at the open of the night - plus one or two points. Starting the trading day early has it's benefits. The difference being now however that the short term trend has also now turned BEARISH. Now that the short term trend AND the overall trend are now the same, it's time to follow the overall bias. Looking to entry a SHORT position on a breakout of the new recent low, as this would provide confirmation that the price is truly reversing at this point. After the amount of news over the past few days, don't expect the pace of the market to slow down. The reactive trader will be the winner in this kind of environment. Be flexible with your view on the market or you will find yourself being left behind!
COMEX:GC1!Short
by Aaron_K_Trading
Gold (GC11 Futures) Mid Term Analysis - SHORTLast week saw a lot of emotional buying of the market. While some short positions were not viable later in the week, there has now been a clear rejection from: 1) The higher zone mentioned prior: 2) The previous long term weekly H&S pattern mentioned back in August: In terms of current price action, it seems that an inverse H&S pattern is forming on the daily. We can also see that in terms of the RSI - with tweaked values more suited for long term analysis - that the price is EXTREMELY overbought. Note on the chart that historically - when using my specific settings - that there is a high probability for a reversal. In terms of the DXY, TECHNICALLY it is still BULLISH on the daily, and has been simply consolidating for the past few days. Please note this infographic: The probability for a move down for Gold seems more likely. There are two scenarios: 1) A retrace to the first minor zone around 1973.5 - 1967, based on the Fibonacci retracement of the recent daily impulsive move. The bottom point starting from the low of Monday 16th, and the high point being Friday 20th. 2) A retrace to the purple zone, starting at 1940.5, extending down to 1921. This is based on the Fibonacci retracement of the recent weekly wave up: . Scenario 2 seems more like of the two, as it would be a logical place for the final shoulder to form in line with this analysis. There are a variety of ways to approach an entry for this week: 1) Buy PUT options around this price. If you do not have access to this functionality because you are trading CFD's, look into using the broker "Avatrade". They feature short term options spanning a few days, and while they are as powerful as traditional options, it can shield you from some of the short term volatility. 2) Look for a breakout sell below the low of Fridays candle, that being 1983.7 on the Futures. 3) Look for to short the 0.618 retracement of Fridays candle. 4) Look to short near the top of Fridays wick, essentially forming a double top. 5) Wait for a confirmed flip of the 21 / 55 EMA's, and look for a short around a relevant pivot. I will be opting for approach 1, as well as approach 3. Manage your risk accordingly. Just as a final note: Please note, there will be times where losses will be taken, but if you are entering around historical areas of support / resistance, they will be extremely negligible compared to your overall profits. Aim for points, not pips. Also please keep in mind, it is good practice to take profit as a position runs. Taking some profit out after 5 to 10 points is not a bad thing. I hope this analysis will help you for the week ahead. I will be posting more closer to time analysis throughout the week. The majority of my time will be spent either here OR in private chat, so if you have any questions, feel free to ask! Good luck! Disclaimer: This is not financial advice.
COMEX:GC1!Short
by Aaron_K_Trading
How to trade gold if the Gaza war escalates?Where does gold go if the Gaza war escalates and are downside targets for gold pointless to think about right now? Perhaps it is prudent to think about some short-term retracements, but it does appear that the war will escalate or at least tensions remain heightened for quite some time, which is bullish for gold. The latest event that could escalate the Gaza war is the blast at the Al-Ahli hospital in Gaza City that is said to have killed 500 people. Initially attributed to Israel, it is now looking more likely that it was caused by a rocket misfired from within Gaza. This was echo by U.S. President Joe Biden during his visit to Tel Aviv on Wednesday where he also pledged U.S. solidarity with Israel. Gold has already risen by more than $120 since the October 7th attack, and around $80 since last Friday. RSI is above the midpoint for most timeframes, but this indicator’s accuracy might be compromised considering the wider geopolitical context. $1,960 is the obvious upside target to be cleared, and then we might want to simply look at physiological levels rather than technical levels considering the unprecedented nature of the events that might be driving the gold price right now.
BLACKBULL:XAUUSD
by BlackBull_Markets