GOLD (XAUUSD): Key Levels to Watch This Week 🥇
Here is my latest structure analysis for Gold.
The market is trading in a major falling parallel channel on a weekly.
The closest resistance that I see is the upper boundary of the channel.
If the price breaks that to the upside, the next resistance on focus will be 1726 - 1735 area.
The closest support is 1614 - 1624 horizontal demand zone.
If the price breaks that to the downside, the next goal for sellers will be the support of the channel.
For now, it looks like buyers will push the market to the Resistance 1.
Once it is reached, I will look for a confirmation to sell or for a breakout trade.
I will post an update, once I spot a decent setup.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Goldusd
XAUUSD Gold Next Possible MoveXAU / USD ( Gold / U.S Dollar )
Time Frame - H2
ELLIOT WAVES : Completed the " 12345 - Impulsive " and " AB - Corrective Wave " will complete its " C - Corrective wave " at Demand Zone " 1675 - 1680 "
RISING WEDGE Corrective Pattern in Short Time Frame #STF
It can Reach the Upper Trend Line #UTL of Long Time Frame #LTF and Short Time Frame #STF
DOUBLE BOTTOM / HH-HL Structure in Long Time Frame #LTF
Need Strong Rejection or Breakout of Demand Zone
Short again on GOLDas you can see in the chart, we have divergence in 4H, and DXY is ready to fly too, GOLD will continue its downward movement again, short here is set stop loss above 1673
I consider all analyses performed in relation to that trade position.
Our analysis is not a buy or sell referral.
If you found our analysis useful and interesting, feel free to share it so that more individuals might benefit from it.
And please don't forget to like and comment; we will read them all.
#Bitcoin $BTC becoming safer asset than #Gold ??In previous times of turmoil, any investor was considered wise to place money into gold vs. fiat or any other investment vehicles. However, this comes with many issues, including accessibility, transportation, etc. So, in my opinion, Bitcoin (with its limited supply coupled with high demand, easy access, and easy transportation) will become considered the safest of the "safe-haven" assets. This chart shows the performance of Bitcoin breaking trend, while invalidating a bearish pennant, during a time when one would assume that money would be moving into Gold instead. For me, personally, this shows that this shift is starting to play out. And, while there still may or may not be a rise in $BTC, the value-loss potential of Bitcoin will become much lower, compared to all other assets.
**This is my opinion based on data. This is not financial advice.**
Gold is still an inflationary hedge asset, why?My answer is definitely a Yes! But why many say no. It is because they are looking at Gold from a very microscopic view; into its day-to-day to week-to-week movement. But if we analyse Gold from a macro perspective, we will able to appreciate Gold better, that it is still an inflationary hedge asset.
And from today’s case study, we will also learn why it is time to get into Gold again at around this price.
Content:
• Gold is still an inflationary hedge asset, why?
• When to enter into the Gold market again?
For investor, you can invest into the physical Gold, Gold ETFs, funds and even those mining stocks that pay dividend.
For traders, I would like to trade into Futures.
COMEX E-Mini Gold Qo1!
0.25 per troy ounce = $12.50
1.00 = $50
1650 to 1750
= 100 x $50
= US$5,000
COMEX Micro Gold MGC1!
COMEX Regular Gold GC1!
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
Stay tuned for our next episode in this series, we will discuss more on the insight of inflation and rising interest rates. More importantly, how to use this knowledge, turning it to our advantage in these challenging times for all of us.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
XAUUSD Gold Next Possible MoveXAU / USD ( Gold / U.S Dollar )
Time Frame - M30
- FALLING WEDGE Pattern in Long Time Frame #LTF and Rejection from the Lower Trend Line #LTL
- ELLIOT WAVES in Long Time Frame #LTF completed " 12345 " Impulsive Waves
- It is making it Corrective Wave " ABC "
- BULLISH CHANNEL Corrective Pattern in Short Time Frame #STF
- Waiting for Retest
XAUUSD Gold Next Possible MoveXAU / USD ( Gold / U.S Dollar )
Time Frame - M30
BEARISH CHANNEL in Short Time Frame #STF
ELLIOT IMPULSIVE WAVE in M-30 Time Frame
Completed the " 4th " Impulsive Wave
Need Rejection from the DEMAND ZONE or Fibonacci Level - 61.80%
Buying Divergence in Long Time Frame #LTF
Bearish Trend Reversal with Strong Bullish Price Action
GOLD Powerful SELL Signal View....
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
Dear Traders,
If you like this idea, do not forget to support with a like and follow.
PLZ! LIKE COMMAND AND SUBSCRIBE.
Gold : Intraweek Technical AnalysisGold Intraweek Technical Analysis:
the move made by gold was very obvious the week, everyone was waiting for the gold to test the support of 1625 atleast once again so that it can be tested and the volumes can be observed.gold tested the support of 1625 with a false breakout towards 1620 and then made a rally to all the way till 1660,giving a weekly and daily closure above the down channel trendline. Another daily closure above the time frame will confirm the reversal for a short period of time. Gold has a resistance of 1728 on weekly time frame and 1675 on daily time frame. A rejection at 1675 level will push gold back to test the supports of 1645 and 1625. My idea is that in coming week gold will try to give a weekly closure above 1675 which will open doors for 1725 in the first week of November and then gold will move towards downside one last time in the third week of November if the interest rate is revised.after which we may see a huge rally towards 1800 in the Christmas holidays.
If you like this or if you think the opposite of this or if there is any other opinion, mention it in the comments. I am open to all kind of suggestions and critics.
Gold is getting ready for bleeding...Gold is in daily supply zone , actually as i can see upward movement was just a correction in downtrend channel , you can short here , absoloutly we are getting down again...
I consider all analyses performed in relation to that trade position.
Our analysis is not a buy or sell referral.
If you found our analysis useful and interesting, feel free to share it so that more individuals might benefit from it.
And please don't forget to like and comment; we will read them all.
🥇Gold🥇 Analyze (Shor term,10/21/2022)!!!Gold was able to make a falling wedge pattern near the middle line of descending channel & support zone. Also, it was broken the upper line of the falling wedge by Bullish Marubozu Candle.
I expect Gold will go up at least to the upper line of descending channel and resistance zone.
Gold Analyze ( XAUUSD ), Timeframe 2H (Log Scale).
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
XAUUSD Gold Next Possible TradeTechnical Analysis Chart Update
XAU / USD ( Gold / U.S Dollar )
Time Frame - M30
According to the Long Time Frame #LTF we have " FALLING WEDGE " Pattern and its Rejecting from the Lower Trend Line #LTL
ELLIOT WAVES - Completed the " 12345 " Impulsive Waves and now it will Follow Buy Trend to complete the " ABC " Corrective Wave
Buying Divergence in #RSI
Gold Short-term Downtrend As stated on my previous trade idea the USD has better control of inflation and is maintaining relative strength over other top currency pairs. With this in mind the USD will be more popular than the Gold as Gold generally goes the opposite direction to USD due to the intrinsic value it can hold the Dollar currency.
This trade is merely speculative and has somewhat of an entry shown by the 4-hour candle closing underneath the "Buy Zone".
- Note to never risk more than 1-3% of your account on any given trade.
Please form your own research but I hope this can give some advice or fuel for ideas to be generated.
A Follow would be appreciated if this helps!
GOLD XAUUSD Mid-Term Bearish AnalysisHelp me keep on posting by clicking on BOOST! (it's like "liking")
This expectation is a framework to look for a potential trading setup; I don't just execute based on these levels, I always wait for confirmations on lower timeframes
This Analysis was done using my complete Strategy which includes:
- Smart Money Concepts
- Multi Timeframe Liquidity and Market Structure
- Supply And Demand
- Auction Theory
- Volume Analysis
- Footprint
- Market Profile
- Volume Profile
- WYCKOFF (IS THE KING)
- ETC