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XAUUSD (GOLD)Hi traders, Gold at the range between support and resistance , now testing resistance if can’t break the resistance can drop to support and break the support after breaking the support it’s work as resistance price getting test to resistance and drop again to next support zone , but if can break resistance can rise more to next resistance and will reject from here and drop to support zones , we need confirmation if opened 4H candle bellow the resistance we can entry short but if can break and open 4H candle above resistance can rise to next resistance and we entry to long .
OANDA:XAUUSD
by Alartush
GOLD/USD TO SELL OR TO BUY, THAT IS WHAT MATTERS.Gold USD chart seems to go on its bearish trend since it reached its peak level 2081. The falling trend is so strong that it broke out the bullish rising parallel channel ans tested 1894 level by breaking 1915 support level. If price can’t hold above 1915 level we might see 1880-85 level. If it holds above 1915 level then we will wait for a break in falling trend around 1923-25 levels (it will go down each day) and after that level we might expect the price to test rising channel lower band resistance level around 1937-40. We should not folllow the prices whether they go up or down, we should interpret those actions as what would we do whether the price goes up or down. Market has two ways. We should not sail against the wind, we should sail with the wind.
FOREXCOM:XAUUSD
by GurkanSerkan
ABC Flat IT IS !!In my previous OANDA:XAUUSD analysis, I talked about the upcoming correction waves and traded the Wave A of correction myself. Later on, for the past 2 weeks, the Price action on Gold was messy with no clear indication so I have been waiting for the Wave B to complete since then. Now it seems, the Wave B is near completion, maybe by tomorrow. The Upward 5 Wave Move of Wave C will start soon which I intend on trading. The wave structure so for on Gold is shown in the chart. Currently we are in the last sub wave of our Wave B which is Ending Diagonals . Once its finished, the Bullish Move of Wave C will start.
OANDA:XAUUSDLong
by syedhamza2135
Gold Long UpdateThis is my final update to the long trade on Gold I have been tracking. We got the bounce exactly from 0.886 as indicated in my previous post and we got an approx. 1.7% move but it failed to go any further. Although the setup is successful as we have already got 2+ % bounce earlier from it and we were expecting the type 2 bounce form the harmonic would give us a better bounce, but it turned out to be a dud. So Now I am looking at price action as indicated in through the sketch. If it fails to breach and sustain above the turquoise line, we will go down along the path. Keep in mind this long was always meant to be a scalp as the trend is down and this setup was part of larger short setup, I gave from 2052 early last month. I will keep an eye on any new longs possible along the downtrend and will post it. Most likely My next long setup would be when we will hit the purple line at the bottom of the chart which is multiyear S/R trend line. Please boost and follow me here to get notified about my pre planned setups.
OANDA:XAUUSDLong
by zakoraio
Gold Prediction (Short Version 5/29/2023)Hello Traders There are several factors that can affect the gold price this week, actually NFP and unemployment data are necessary for future FED decisions and gold of course. So without overthinking about what will happen, let's focus on present market price action. Gold Price is moving inside of descending channel and forming a bearish 5-wave impulse Elliot wave. if fundamental views haven't changed, We are expecting the price to correct itself and then continue its way downward. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
OANDA:XAUUSD
by FortunaInvestments
This Week Bullish CorrectionWith the recent Ending Diagonals on OANDA:XAUUSD as shown in the chart below, Gold is currently starting the Correction of Wave A/1 of downward movement which started in the first week of May. On Various brokers, the price went beyond making new ATH almost a month ago. But in my opinion, that was just SL hunting done by whales to squeeze out the retail short positions before moving the market downward. I personally expected that and managed my trade accordingly for it. So far, this whole month has been in the 5 Wave downward move and still it just finished last week as shown in the chart. This Week , the price of Gold is expected to rise since the downward impulse is over with our Wave 5 as shown. I will personally be keeping a close eye on the Correction of this 12345 Impulse to see rather it will be considered as Wave A Correction or Wave 1 Impulse of bigger downward movement . As shown in my previous analysis of Gold on Weekly Timeframe, there is still a big possibility that we are in the start of a Bear Market on Gold and I am planning my Gold Trades while keeping that scenario in mind.
OANDA:XAUUSDLong
by syedhamza2135
Gold Trading ideaWhile there is no one-size-fits-all trading strategy for gold, here are a few popular approaches that traders often consider when trading gold: Trend Following: This strategy involves identifying and trading in the direction of the prevailing trend in gold prices. Traders may use technical analysis tools, such as moving averages or trend lines, to identify trends and enter trades in the direction of the trend. The goal is to capture profits as long as the trend remains intact. Breakout Trading: Breakout trading involves identifying key levels of support or resistance on the price chart and entering trades when the price breaks above or below these levels. Breakouts can indicate potential shifts in market sentiment and the beginning of new trends. Traders may use indicators like Bollinger Bands or volatility-based indicators to identify periods of consolidation and anticipate breakouts. Range Trading: Range trading involves identifying price ranges or support and resistance levels within which gold prices have been trading. Traders look for opportunities to buy near support and sell near resistance, taking advantage of price oscillations within the established range. Range trading can be effective in sideways or consolidating markets. Fundamental Analysis: Fundamental analysis involves monitoring and analyzing economic indicators, geopolitical events, central bank policies, and other factors that can influence gold prices. Traders employing this strategy focus on understanding the underlying factors that drive gold prices and make trading decisions based on their analysis of these factors. For example, traders may consider factors like interest rates, inflation, or geopolitical tensions to gauge the direction of gold prices. Risk Management: Regardless of the chosen trading strategy, effective risk management is crucial. Traders should consider setting stop-loss orders to limit potential losses and adhere to proper position sizing to manage risk. It's also important to stay updated on market news and be aware of major events or data releases that may impact gold prices. Remember, trading gold, like any other financial instrument, involves risks, and no strategy can guarantee profits. It's recommended to practice due diligence, conduct thorough research, and consider personal risk tolerance and financial goals when developing or adopting a trading strategy. Seeking advice from experienced traders or consulting with a financial advisor can also be beneficial.
OANDA:XAUUSDLong
by eretusam