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Goldtrader

Gold: Is support starting to form? Happy Friday, traders and TradingView community. Today we are looking at Gold from a technical perspective on the short term as buyers continue to push off a support area and from a potential demand zone. Price, for now, has continued to see demand from 1820.90, and sellers have failed on two attempts to break through. This level also sits in a possible supply zone that corresponds to the bar on the 21st of December, 2022. A supply zone can point out an area that can form support and lead to a reversal. I’m by no means an expert on supply and demand zones, so please be aware of that. What I like about this is the fact that two points have lined up in the same area. Price still remains in a downtrend, and the last few candles have seen failed attempts to hold close to their highs. These are counter bearish signs and need to be taken into consideration. From here, we want to see buyers hold today’s rally, and the higher the close, the better to tell us that buyer numbers are increasing. If we see a solid close today, that could be a sign that buyers are trying to regain control. A break of the trendline would be another solid sign. We need to see buyers hold 1820.90 support as if price closes below that level we could see a new bearish continuation. Another factor is the USD core PCE price index data will be released later today, and it is expected to come in at 0.4%, 0.1% higher than the last data. Inflation and rates continue to be a driver, and a miss or beat could impact the USD and Gold. The PCE will be released at 8:30 am EST. Have a great weekend and good trading.
EIGHTCAP:XAUUSD
by Eightcap
2
GOLD (XAUUSD): Update & The Thing to Watch🥇 Update for Gold. The market keeps coiling on a key daily horizontal support. Analyzing a 4H time frame, I spotted a potential inverted head & shoulders pattern. The price has already completed the left shoulder, the head and currently it is forming the right shoulder. 1842 - 1850 is its horizontal neckline. The trigger to buy Gold will be its bullish breakout (4h candle close above). A bullish continuation will be expected to 1866 / 1879 levels then. If the price sets a new low, the pattern will become invalid though. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
14
Gold Longs On 1H close about 1898 Hope all is well, Sharing a technical analysis on GOLD as an overview my overall bias is long. Please be sure to always use proper risk management. We are looking for targets of 1913.5 depending on closure 1930 before a major sell off again depending on how price reacts when we reach the higher targets. Gold must close 1H above 1898 for continuation to the upside. 15M TL is valid waiting for break and retest however I did enter longs already with stops at 1895.4 If you like the idea be sure to follow for more trade setups. I would love to build a community of professional traders strictly watching gold . I do dable occasionally into gold GJ but other than that you too should be focusing on mastering one single pair or indices.
OANDA:XAUUSDLong
by iNtuNeFXMarkets
4
XAUUSD 4H - LevelsEnd of day update: We saw a strong resistance at the 1830-35 region as we suggested in the KOG Report and managed to get a nice short into the 1815, 1810 and 1800 levels. We’re now removed a majority of the trade and set the stop to entry just in case we achieve our lower immediate target of 1785. We are now looking for a small push up with the first initial level being 1806-8 and above that 1812-14. . We want to see how the price reacts at this level and whether we face resistance. If we see resistance here we’re on for our target level of 1785 and below that 1777 which was a previous key level. We have illustrated what to look out for and the levels to trade between. Please have look at the linked chart which shows the range and how the price has now come back into the box. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
19