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GOLD → Trade Analysis | SELL SetupYou can expect a reaction in the direction of selling from the specified resistance zone GOLD moving higher as it tests the strong resistance level.. We expect a bearish move from the confluence zone. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GOLD I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
TVC:GOLDShort
by TheGrove
3
Gold May Fall to 2615.00 - 2625.00 (READ DESCRIPTION)Gold May Fall to 2615.00 - 2625.00 Pivot Point: 2650.00 – This level acts as key resistance, capping potential upside moves. A sustained break above it would indicate a shift in momentum. Primary Strategy (Our Preference): Entry Point: Short positions below 2650.00. Target Levels: 2625.00: This serves as the initial downside target, indicating a potential decline from the pivot point. 2615.00: If bearish momentum continues, further downside towards this level is likely. Alternative Scenario: Entry Point: If the price moves above 2650.00, consider long positions. Target Levels: 2659.00: A move higher could test this resistance level first. 2670.00: Further bullish momentum may drive Gold toward this higher resistance. Technical Outlook: RSI Indicator: Likely indicates bearish sentiment, suggesting a risk of further declines as long as resistance at 2650.00 holds. MACD Indicator: May be below its signal line, reinforcing the bearish momentum. Moving Averages: Gold is likely trading below its 20- and 50-period moving averages, suggesting continued short-term weakness. Market Dynamics: As long as 2650.00 remains resistance, further price declines are anticipated, targeting 2625.00 and potentially 2615.00. A break above 2650.00 could shift momentum to the upside, with targets at 2659.00 and 2670.00, indicating a reversal of the current bearish trend.
OANDA:XAUUSD
by CharivapaAlgo
Will GOLD continue to hold back the bulls?XAUUSD - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes. A higher correction is expected. Preferred trade is to sell into rallies. Bespoke resistance is located at 2660. We look to Sell at 2662.2 (stop at 2678.2) Our profit targets will be 2622.2 and 2612.2 Resistance: 2654.0 / 2670.2 / 2685.6 Support: 2632.0 / 2624.7 / 2600.0 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XAUUSDShort
by OANDA
Xauusd sell From a technical perspective, any subsequent fall is likely to find decent support near a short-term ascending trend-channel resistance breakpoint, around the $2,625 region. This is followed by the $2,600 mark, which if broken decisively could pave the way for some meaningful downside in the near term. Given that the Relative Strength Index (RSI) on the daily chart is still hovering near the overbought zone, the Gold price might then accelerate the slide towards the $2,560 intermediate support en route to the $2,535-2,530 region. Gold now sell 2644 Support 2620
OANDA:XAUUSDShort
by JohnHarry_7
XAU/USD Sell to Buy idea (potential pullback?)I’m watching for a potential sell around the 2-hour supply zone. Specifically, I'll be looking for the Asian session high to be taken out, followed by a Wyckoff distribution on the lower time frames. Since this setup is counter-trend, I expect it to mark a possible reversal point for gold, as the Wyckoff pattern has already played out on the higher time frames and the market structure has shifted to the downside. If price continues to drop, I’ll shift my focus to potential buy opportunities around the 2,630 level. Once price enters this zone and shows signs of accumulation, I’ll look to trade with the overall bullish trend, as I remain optimistic on gold’s long-term upside. Confluences for Gold Sells: - A Wyckoff distribution has occurred on the higher time frames. - The market structure has shifted downward (price changed character). - Price is nearing the 2-hour supply zone, which could trigger a reversal. - Despite gold’s bullish trend, bullish momentum seems to be weakening. - If a full reversal doesn’t occur, a pullback is still likely before price continues upward. Note: If price breaks above this supply zone and makes a new all-time high (ATH), I’ll look for a nearby demand zone to catch buys before price mitigates the 8-hour or 10-hour demand below.
OANDA:XAUUSDShort
by Hassan_fx
2
Gold Eyes Potential Retracement-Impact USD EventsGold has shown strong bullish momentum recently, sweeping above previous highs. On the 1-hour chart, we’re observing potential signs of exhaustion, suggesting a pullback could be imminent. The anticipated retracement target is around the 2,650 level, which coincides with key support and Fibonacci levels. Technical Analysis: The 1-hour chart indicates that Gold has pushed above previous highs but is now encountering resistance. A corrective move towards the 2,650 level would align with the broader market structure, allowing for a healthy pullback before any potential continuation of the uptrend. Fundamental Analysis: Today’s economic calendar is packed with high-impact USD events that could influence Gold’s price action: • US Final GDP & Unemployment Claims: These data points will provide insights into economic health and could affect the dollar’s strength. • Fed Chair Powell & FOMC Members’ Speeches: Multiple speeches from Fed officials, including Powell, could offer clues on future monetary policy, impacting market sentiment and Gold’s direction. • ECB President Lagarde’s Speech: Potential implications for EUR/USD, which could indirectly impact Gold. • Pending Home Sales: An important indicator of economic activity that could also influence market sentiment. Risk Management: Given the potential volatility from today’s events, it is crucial to maintain disciplined risk management. Consider setting tight stop-loss levels to protect your position in case of unexpected market moves. Adjust your position size according to your risk tolerance, and be prepared to react quickly if market conditions shift. With these key events lined up, be prepared for heightened volatility. Any surprises in the data or comments from policymakers could lead to sharp movements in Gold, supporting the case for a short-term pullback. Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
CAPITALCOM:GOLDShort
by AR33_
2
Gold Thoughts 25-Sept-2024GOOD MORNING Everyone! Please find my Gold market analysis for today below. As a price action trader, I encourage you to compare my charts with yours and use my insights to enhance your skills. These videos are designed for educational purposes only, not as trading signals. My goal is to help you grow and become a proficient trader.
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PEPPERSTONE:XAUUSD
by DrBtgar