Sell Gold in 2740-2750 areaGold has risen to around 2740 driven by geopolitical risks. Obviously, gold is currently in a clear bullish trend, but the more it gets to this point, the more dangerous it is. Gold is now completely out of the normal range of rise. We can see that gold does not give a big chance of callback at all now, just to make more people chase long gold at a high level. But chasing long gold in this way can easily get trapped at the top.
As for the top area of this round of gold's rise, I expect it to be in the 2740-2750 area. So after gold touches this area, gold may fall back at any time. So in short-term trading, we can start shorting gold in batches in the 2740-2750 area.
So, bros, while you are immersed in the enthusiasm of going long on gold, I am now shorting gold in batches! Let's look forward to the next results!
Goldtrade
XAU ! 10/18 ! Weekend price increaseXAU / USD trend forecast October 18, 2024
On Thursday, the European Central Bank cut interest rates for the third time this year, the first consecutive cuts in 13 years, and signaled more reductions due to the worsening economic outlook. The Federal Reserve is also expected to lower rates again after a significant cut in September, while weak UK inflation data has strengthened expectations for more aggressive easing by the Bank of England.
price increase to create new ATH - continue to wait for new ATH at the end of the week. FOMO is huge
/// SELL XAU : zone 2723-2726
SL: 2731
TP: 50 - 100 - 300 pips (2696)
Safe and profitable trading
Sorry, I've already started shorting goldAt present, gold has risen strongly to around 2689, and is only one step away from 2700. Although the gold market is hot at present, I do not advocate chasing gold now. To be honest, as long as gold remains above 2675, I will not advocate going long on gold.
Now that gold is approaching 2700, it has basically reached the short-term expectations of bulls. Now that gold is approaching 2700, it has basically reached the short-term expectations of the bulls. Some of the profit-making chips may be cashed in for shipment. This is why I do not recommend chasing gold. In the short term, since gold rose near 2638, there has been basically no decent correction. So when facing the psychological pressure of 2700, gold is likely to have a round of correction, retesting the 2670-2665 area, and may even retest the 2660-2655 area.
So, bros, while you are keen on chasing gold, I am now shorting gold in batches! Let us look forward to the next results!
Sorry, I've already started shorting goldAt present, gold has risen strongly to around 2689, and is only one step away from 2700. Although the gold market is hot at present, I do not advocate chasing gold now. To be honest, as long as gold remains above 2675, I will not advocate going long on gold.
Now that gold is approaching 2700, it has basically reached the short-term expectations of bulls. Now that gold is approaching 2700, it has basically reached the short-term expectations of the bulls. Some of the profit-making chips may be cashed in for shipment. This is why I do not recommend chasing gold. In the short term, since gold rose near 2638, there has been basically no decent correction. So when facing the psychological pressure of 2700, gold is likely to have a round of correction, retesting the 2670-2665 area, and may even retest the 2660-2655 area.
So, bros, while you are keen on chasing gold, I am now shorting gold in batches! Let us look forward to the next results!
Use 2684 as resistance to short goldToday, gold was pushed up to around 2683. This round of gold rise is in line with our expectations. Yesterday, we went long on gold in the 2645-2650 area and made a good profit. Currently, gold is approaching the previous high of 2684. Although bullish sentiment is high, I do not recommend going long on gold here directly, after all, the suppression of the previous high still exists.
We have just shorted gold near 2683. Currently, gold has fallen back to around 2674, and our short position has made a good profit. Then our short target is the 2670-2665 area. Of course, if gold can fall back to the 2660-2655 area, I may consider going long on gold in combination with the real-time market.
Still sticking to long gold!Today, gold reached 2638 during the retracement process and then rebounded again, but did not effectively fall below 2640. The gold correction did not fall below 50%, so there is still room for gold to rise again.
From the perspective of technical structure, gold has signs of building a head and shoulders bottom pattern at the short-term level. Once gold cannot effectively fall below 2640, it is still possible for gold to rise to the 2670-2680 area.
So in terms of short-term trading, if gold falls back to the 2645-2640 area, I will consider adding more money to be long gold.
XAUUSD / GOLD Intraday SetupGold still looking good for some upside move. I like the reaction from level I posted recently, if this level will hold, I'm looking for a buy into next level. Simple as that.
I'm waiting for strong closure to confirm my idea, if not I expect some range in current price levels.
Go short gold!Bros, gold gradually rebounded to around 2650, breaking through the short-term resistance of 2530-2540, but according to the current conditions, gold does not have the conditions to form a unilateral upward trend. Therefore, in the short term, gold still needs to retreat downward, and the key resistance area above is around 2655-2660, so I will continue to short gold in this area.
Bros, do you have the courage to short gold?
BREAK - NF create new ATH 2700 ?⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The US Department of Labor reported a slight rise in unemployment claims to 225K for the week ending September 28, up from 218K. This follows stronger-than-expected private-sector job growth in September and an unexpected increase in job openings in August, signaling a resilient labor market. Additionally, the ISM Non-Manufacturing PMI rose to 54.9 in September, its highest since February 2023, indicating solid economic performance in the third quarter.
⭐️ Personal comments NOVA:
Gold price begins to break the downtrend in H1 frame - expect NF to push gold price to continue increasing today
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2625 - $2623 SL $2618
TP1: $2632
TP2: $2640
TP3: $2650
🔥SELL GOLD zone: $2698 - $2700 SL $2705
TP1: $2690
TP2: $2680
TP3: $2670
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY 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
XAU bearish sideway - waiting for NF this week⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION :
Gold prices (XAU/USD) ticked up slightly during the Asian session on Tuesday, halting a two-day decline and pausing the recent pullback from last week’s all-time high. However, the increase lacks strong momentum due to modest US Dollar strength, supported by Federal Reserve Chair Jerome Powell's hawkish comments on Monday and optimism around China's stimulus efforts, both limiting gains for the safe-haven asset.
That said, significant declines in gold remain unlikely, given ongoing geopolitical tensions in the Middle East. Additionally, expectations of further US rate cuts amid slowing inflation and hopes for China's stimulus to boost physical demand should continue to support XAU/USD. Traders are now awaiting US macroeconomic data and Fed commentary for further direction.
⭐️Personal comments NOVA:
Gold price clearly shows a downward adjustment trend in the H1 frame - sideway price range 2625 - 2648 waiting for NF this week
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2628 - $2626 SL $2620
TP1: $2633
TP2: $2640
TP3: $2648
🔥SELL GOLD zone: $2648 - $2650 SL $2655
TP1: $2640
TP2: $2633
TP3: $2625
⭐️ 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
Still holding short positions, 2630 is not the end!So far, I still insist on holding short positions and executing mid-term trading as planned. So far, the lowest price of gold has reached around 2630. Although it has rebounded and returned to around 2640. But it is obvious that the high point of gold rebound is gradually decreasing, and as gold continues to fall below 2650 and 2640, it also means that the adjustment cycle has been prolonged to a certain extent. So it is obvious that gold has not completely stabilized and is expected to continue to pull back.
So 2630 is not the end point, gold is expected to continue to fall, and it is very likely to retest around 2600 again, and it may even fail to hold 2600 and have to test around 2580. So I still stick to the mid-term trading plan, short gold, and wait for the fruits of victory!
Bros, let's wait and see!
Gold Overbought Daily, Weekly, Monthly: But Does it Matter?Gold Talking Points:
Gold bulls have continued to push an impressive trend throughout 2024 and there was another extension of that this morning with another fresh all-time-high.
At this point chasing fresh breakouts in gold can be seen as challenging given that it’s now showing overbought conditions on the daily, weekly and monthly charts. But – that doesn’t mean that price has to turn. Instead, the focus can shift to pullbacks of higher-low support, like what had showed around FOMC last week.
It’s been an astounding rally in gold so far in 2024 and that’s continued through another week, with the metal getting another push-higher this morning on the back of dovish Fed comments from Neel Kashkari and Austan Goolsbee. The big USD driver for this week is unveiled on Friday with the most recent release of Core PCE, often considered to be ‘the Fed’s preferred inflation gauge.’
Until then, however, there’s numerous iterations of Fed-speak, including a speech from Chair Powell on Thursday morning. Markets have high expectations for more dovish-speak as rate expectations are currently showing a 76.5% probability of at least 75 bps more in cuts by the end of the year, standing against a current 23.5% probability of 50 bps, which is what the Fed’s projections pointed to last Wednesday.
In gold, that FOMC rate decision delivered the last pullback as prices softened down to the $2550 zone of support. That didn’t last for long, however, as bulls pounced and continued to drive through last week’s close and this week’s open, setting another fresh all-time-high.
Gold Bigger Picture: Overbought Daily, Weekly, Monthly
At this point chasing gold-higher on breakouts can be a challenge. There’s been a proclivity for bulls to soften the drive on tests of resistance or at fresh highs, thereby leading to the build of a rising wedge pattern. And there’s also the matter of overbought dynamics to consider as gold is currently showing overbought readings on all of the daily, weekly and monthly chart.
That does not mean that gold has to turn, however. The monthly overbought read started way back in April and, of course, gold has continued to drive since then. The weekly overbought reading re-appeared in early-September, just as bulls were gearing up for another breakout. And the daily overbought reading showed last Friday, and this is the first time that’s happened since April. That’s when gold began to stall and range which largely held through the Q2 close and the Q3 open.
So, overbought doesn’t mean that this is ready for reversal. It does, however, highlight the challenge of chasing and instead points to pullback potential such as the scenario I was talking about ahead of the FOMC last Wednesday.
On the below chart, I’ve highlighted the two prior episodes in 2024 when daily RSI pushed into overbought territory.
Gold Shorter-Term Strategy
I had shared a zone on twitter this morning that was highlighting short-term resistance around the 2625 level. Bulls breached that on the way to fresh highs and it’s now back in the picture as short-term support, which is confluent with the trendline taken from the higher-low produced after the FOMC pullback last week. This is also what I’m considering as support side of a rising wedge formation, which is often approached with aim of bearish reversals or pullbacks in bullish trends.
I’m more interested in pullbacks at this point and that highlights the 2619 swing of prior resistance as a possible spot of support. Below that I have another prior swing of resistance-turned-support at 2614. If that can’t hold, the door is open to a 2600 re-test which is what held the highs just after the FOMC statement release last Wednesday. When bulls drove price above that level, the pullback showing after couldn’t even get down to 2600, holding at 2602 and this sets up a support zone of note for retracement scenarios this week.
--- written by James Stanley, Senior Strategist
FOMC! The most important news in September 2024⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
Gold prices (XAU/USD) found support from buyers during the Asian session on Wednesday, halting the previous day's pullback near record highs. Expectations of aggressive rate cuts by the Federal Reserve have kept the US Dollar from fully recovering, helping to support gold prices. Additionally, concerns over potential conflict escalation in the Middle East and political uncertainty in the US ahead of the November elections continue to boost the safe-haven appeal of gold.
However, investors are likely to remain cautious ahead of key central bank meetings this week. The Fed will announce its decision on Wednesday, followed by the Bank of England on Thursday and the Bank of Japan on Friday, which could drive market volatility and impact gold prices.
⭐️ Personal comments NOVA:
Gold price decreased slightly - sideway around 2560-2590 before FOMC, Lower interest rates brought positivity to XAU. Waiting for the new ATH to reach 2603 and then drop sharply to gain liquidity below
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2564 - $2562 SL $2557
TP1: $2570
TP2: $2580
TP3: $2590
🔥BUY GOLD zone: $2545 - $2547 SL $2540
TP1: $2550
TP2: $2560
TP3: $2570
🔥SELL GOLD zone: $2603 - $2605 SL $2610
TP1: $2595
TP2: $2580
TP3: $2570
⭐️ 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
I doubled short gold around 2589.Bros, I know that some short sellers are very anxious because gold has already reached around 2590, and it is only one step away from 2600. As long as my friends who follow me know, I hold a short position, but I am not particularly worried. If you still hold a short position in gold, please be sure to read the following content carefully.
Today, gold basically maintained a consolidation trend. As of now, gold has not broken through 2590. Since yesterday, I have been emphasizing that the 2580-2590 area is likely to become a short-term top area, and it still holds true now. Gold has failed to break through 2590 many times, and it is very likely to copy the trend of gold near 2530 some time ago. It has failed to break through many times, and it has built a short-term top structure and then fell under pressure. I think this possibility is very high!
In addition, the Federal Reserve is going to cut interest rates, and I firmly stand in the camp of expecting a 25 basis point interest rate cut. Once the Federal Reserve cuts interest rates by 50 basis points below market expectations, gold will inevitably fall. Moreover, gold rose before the interest rate cut, which is likely to reserve room for decline after the interest rate cut.
Last point, in fact, what I focus on now is not market fluctuations, but market sentiment. Even if I continue to be bullish on gold, the transaction risk is very high, so I prefer to start shorting gold when the market's bullish sentiment is high. So I am not worried about the short positions in my hands. On the contrary, I doubled my short positions on gold near 2589 today. I believe that time will eventually give us rewards!
Sorry, I have already shorted gold!Stimulated by the news, gold has risen rapidly to around 2552. Obviously, gold has seen a very obvious squeeze and rise. After the rapid rise of gold, there must be a technical demand for a fall. I expect 2552 to be the high point of gold in the day, so when you all want to chase the rise of gold, I have already started to short gold!
Brothers who are shorting gold, you are definitely not alone, I am here with you!
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XAUUSD Trading for 12 Sep 2024 Didn't manage to post my trade idea earlier but this is a sell trade I took earlier today after price took out the buyside liquidity and reversed from the 50% level of the long wick marked by the dark red line. Have closed my sell trades and looking for new opportunities. Still prefer to see price drop all the way down to take out the ITL (intermediate term low below.
Note how XAUUSD have been stuck in a tight range on the weekly/daily which presents good opportunities to buy at the bottom discount or sell at the top premium.
Are you ready to short gold?Gold rose to 2520 as expected, even higher than I expected, and once reached around 2529. However, the highlight of the gold market today is the CPI data.
To be honest, for the current gold market, I don't recommend chasing gold any further. Even if gold rises to the 2530-2535 area, I don't recommend chasing gold any further. Because the market expects the Fed to cut interest rates this month, but there are still differences on whether to cut interest rates by 25 basis points or 50 basis points. Once the market expects a 25 basis point cut, gold will continue to fall; even if the market expects the Fed to cut interest rates by 50 basis points, I think it will be difficult for gold to rise sharply based on CPI data alone, because if gold rises sharply based on a single CPI data, it will compress the room for growth of the interest rate decision on September 19, so even if the CPI data is bullish for gold, the room for gold to rise will be compressed, and gold is likely to rise first and then fall.
So in terms of trading, I don't recommend chasing gold for the time being. On the contrary, if gold approaches the 2530-2535 area, I think you can start to short gold boldly!
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Stick to shorting gold!Today we have made good profits in both long and short gold transactions. First, we shorted gold near 2498, and gold perfectly hit TP: 2488 during the decline; then we longed gold near 2492 and manually closed the order above 2496. A total profit of 140pips was made in both long and short gold transactions, which is a very good trading result!
Today, gold fell back to around 2485 again, and then rebounded. The downward momentum did not continue, and there were signs of building a double bottom structure in the short term, proving that the 2485-2480 area still has some support for gold in the short term; however, from the perspective of the gold rebound structure, the gold rebound potential is weak, and as gold falls, the resistance area also goes down. The current short-term resistance of gold is in the 2505-2510 area. If gold cannot recover this area, gold will most likely continue to test the support near 2470.
So in terms of trading, the relatively safe way is to short gold at high levels. In short-term trading, we can boldly short gold with the 2505-2510 area as resistance. I believe there will be a good profit!
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XAU / USD ! 9/9 ! SIDEWAY continue to decreaseXAU / USD trend forecast September 9, 2024
According to the data, Fed interest rate probabilities fluctuated sharply. Based on CME FedWatch Tool data, at some point, traders priced a 50 bps cut with odds rising as high as 70%. Nevertheless, as the dust settled, market participants estimated that a 25 bps cut was more likely as the chances of it rose by 73%, while for a 50 bps cut they decreased to 27%.
In the meantime, Fed policymakers crossed the newswire. New York Fed President John Williams said that lowering rates soon will help to keep the labor market balanced. Fed Governor Christopher Waller echoed some of his comments at a speech at the University of Notre Dame. He said, “The time has come” to begin easing policy and revealed that he was open to any size of easing.
Based on H2, resistance and EMA 200 line to set up SELL signal
/// SELL XAU : zone 2505-2507
SL: 2513
TP: 50 - 150 - 200 pips (2487)
Safe and profitable trading
AUXUSDAlles is vrijdag uitgenomen aan liq boven aan op H1.
Breek van structuur en we hebben een reactie gekregen op een demandzone.
Op 2500 heb je een high die nog niet is uitnomen (wick) en op de bookmap liggen twee mooie strepen aan ordes. daarboven liggen nog nieuwe ordes tot aan 2510.5.
Mooiste is als deze worden uitnomen en dat we daarna verder naar benenden gaan richting de 2473 omdaar de ordes uit te nemen plus de liq die er ligt van de laastet wick op 2470.8
Woensdag belangrijke dag voor de cijfers die uitkomen. Die bepalen het sentiment voor de komende maanden voor beleggers.
--------
Everything was taken out on Friday at the top of H1.
Break structure and we got a response to a demand zone.
At 2500 you have a high that has not yet been taken (wick) and on the bookmap there are two nice lines of orders. above that there are new orders up to 2510.5.
The best thing is if these are taken out and then we continue down towards 2473 to take out the orders plus the liq that is there from the last wick at 2470.8
Wednesday is an important day for the figures that come out. These determine the sentiment for investors in the coming months.
Go long gold!Today's NFP market is the highlight, and gold's performance in NFP is exactly in line with my expectations. First, I explained that I am optimistic about gold's rebound after the decline in the NFP market, and focus on the 2516-2512 support area and the 2505-2500 area.
Before the release of the NFP data, gold just fell back to around 2512, and then rose to around 2518; after the release of the NFP data, gold instantly fell back to around 2508, and then rose sharply to around 2528. Basically, it meets my expectations that gold will fall back first and then rise.
At present, gold has fallen back to the 2505-2500 area again, and the current lowest point has reached around 2503, retesting yesterday's rebound area of 2504. If the test support is effective, gold will rebound again. I expect gold to rebound to at least the 2515-2520 area. So I have decisively chosen to go long on gold.
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