GOLD (XAUUSD): Catching a Pullback 🥇
Gold formed a harmonic ABCD pattern on 4H time frame.
Analyzing a completion point of the pattern, I spotted a triple top formation on 1H time frame.
The price managed to close below its neckline and retests that now.
I expect a bearish move to 1754
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Goldusd
Next Bear Plan for Gold Hi, I see pullback could be over, and we are gradually going back to Bear tracks.
Trade Well,
Alex
Gold is trapped in a bull flag before the FED Interest Rate!Technically, Gold have been trapped in a bull flag since 22 July 2022, a clear violation of this bull flag will send price to 1760.
Fundamentally, The Federal Reserve is expected to raise interest rates by three-quarters of a point later today, its second hike in a row of that size. We are keen to learn of how the market will react to this. Definitely, Gold is one of the assets that will be affected in price dramatically.
Trading suggestion on Gold. On a technically standpoint, a clear violation of the bull flag traders can take short term buy positions to 1760 making sure that we are not trapped in trades before the big event as the market would be volatile by then.
It is also wise to wait for the Fed Rate hike release for the market to digest the information for clarity as to where the market would be headed to.
If you like this idea please be kind to leave a like. If you have any question please feel free to ask in the comment section below.
Trade smart
GOLD (XAUUSD): Important Zone to Watch 🥇
Hey traders,
I spotted a peculiar confluence zone on Gold.
The price is currently approaching a major falling daily trend line.
It matches perfectly with a completion point of a harmonic ABCD pattern on 4H time frame.
I will expect a pullback from the underlined yellow zone next week.
Target - 1745
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Gold Forecast/Idea XauUsdTwo Scenario
The first scenario with a probability of 55%:
Breaking the daily resistance in the price range of 1800 and hitting the price range of 2075-2080.
The second scenario with a probability of 45%:
Hitting the resistance of 1800 and returning to the daily and weekly support in the price range of 1680 and 1600.
80% of the reasons for the upward movement of the price of gold and its fluctuations in the next weeks ( like the last 6 months, of course ) are influenced by the news and in general, fundamentals, which are mainly news like; The war between Russia and Ukraine is the decisions of the central banks for the financial, energy and food crises around this war and the exit from the Covid-19 epidemic recession, of course.
Undoubtedly, price changes and fluctuations in energy (oil and gas indexes) have a direct impact on precious metals and gold,
So be aware that sudden movements due to news and fundamental analysis have a high impact on your trades in this period of time, and you should pay special attention to the News.
Good luck
P.S
Dear Friends; Write any suggestions for currencies analysis or stocks in the forex and cryptocurrency market in the comments so that we can publish their analysis.
sincerely
GOLD (XAUUSD): Key Structure Ahead! Important Update 🥇
As I predicted, Gold bounced nicely from a key structure support.
Ahead is a strong confluence zone, based on a horizontal supply area and a falling trend line.
The reaction of the price to that structure will determine the future direction of gold.
Its bullish breakout will trigger a bullish continuation at least to 1787.
I will post an update once I spot a decent confirmation.
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Please, support my work with like, thank you!❤️
Gold Trend 29/07Carried the buying momentum from the day before, gold continued to climb yesterday. After the market opened at 1733, the price had already jumped beyond 1735 early in the Asian session. It broke out from 1740 in the European session and kept climbing higher in the US session. The day ended near the day-high at 1756.
Gold has surged along the uptrend channel(2) on the 1-hour chart. Sign of the current climb slowing down has yet to appear; the next upside target can be set at around 1765.
The buying was strong yesterday on the daily chart where the day ended near the day-high. The trend is still bullish, and the upside target remains at 1780.
S-T Resistances:
1765
1760
1757
Market price: 1755
S-T Supports:
1750
1740
1735
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Gold Trend 26/07 - 29/07Gold pulled back from 1735 again yesterday. The day began at 1726, and the price was gradually heading higher during the Asian/European sessions. Once the
price reached the day-high at 1736, the selling started to come in. The day eventually ended at near 1719, with the day-low touched 1714.
Gold should stay below 1735 before the US Fed. Meeting on Wed, as it has once again failed to clear the resistance near 1735 yesterday. An S-T trendline(1) has been formed in the last 12 hours; if the price can breach the support below trendline(2), expect the price to consolidate further into the 1705-35(2) range.
Gold was rejected by the 1730 resistance for the second day on the daily chart. For now, expect the price to trade in between 1710-30(3) until the US Fed. Meeting.
S-T Resistances:
1740
1735
1728-30
Market Price: 1721
S-T Supports:
1720
1710
1705
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Gold Analyze (Where is the end of the correction❗❓)(Update)!!!GOLD moved as I expected in my previous post about GOLD 👇
If you want to know about my Gold Road Map🗺️, please look at 👇
GOLD is moving near the Heavy Support Zone, and I expect that around the current price can be the end of microwave 3 of microwave 5 of microwave C of Main wave 4.
Where is the end of main wave C ❗️❓
🎯Target🎯: 1720$ until 1670$
Gold Analyze, Timeframe 8H(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.
Gold Analyze (Where is the end of the correction❗❓)!!!If you want to know about my Gold Road Map 🗺️, please look at 👇
Gold is running in Fibonacci Channel while lines of the Fib Channel are working well, and I tried to use them for finding the end of the microwaves of the main waves .
I show you the end of main wave C ( End of the Correction❗ ).
Where is the end of main wave C ❗️❓
🎯 Target 🎯: 1720$ until 1670$
Gold Analyze, Timeframe 8H (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.
Gold Analyze (Where is the end of the correction❗❓)(Update)!!!If you want to know about my Gold Road Map🗺️, please look at 👇
Gold is making zigzag correction for completing the microwave 4 of microwave 5 of microwave C of Main wave 4.
I expect that Gold will reverse around PRZ (Price Reversal Zone).
Also, the Stochastic RSI Indicator is on the resistance line 👇
🔴PRZ🔴: 1772$ until 1755$
Where is the end of main wave C (End of Main wave 4) ❗️❓
🎯Target🎯: 1720$ until 1670$
Gold Analyze (XAUUSD) , Timeframe 8H ( 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.
Gold Trend 28/07Gold gained USD 17 yesterday. The day began at 1716, and the price mainly traded between 1715-23 throughout the day. Once the US released its interest decision, the price went up until it reached the day-high at 1740, with the day ending near 1734.
The price has failed to stay above 1735 until the Asian session today. An uptrend channel(3) has formed on the 1-hour chart. If the price clears the current resistance at 1740, it will be able to reach 1750 or higher.
The reversal signal at 1680 on the daily chart is still valid, while gold is trading under a rebounding trend. The price has cleared the 1-week resistance at 1730; once the price can break out from 1740, the upside target will be at the upper limit of the range(6) around 1770.
S-T Resistances:
1755
1750
1740
Market price: 1737
S-T Supports:
1735
1730
1720
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Final move for Bears?hi, I see gold will do one more low before significant rebound to complete wave 4 then final push south for wave 5.
Gold Trend 27/07Gold traded flat yesterday. The day began at 1719; the price first tested the day-high at 1728 in the Asian session, and it began to consolidate. The daily range was tight within USD 15, with the price just traded between 1715-20 before the day's end.
As mentioned yesterday, we can continue to take advantage of the 1705-35(2) range before the US Fed. Meeting. As the price went below the support trendline(1) on the 1-hour chart, the S-T trend is now weakening. The downside target will remain near 1705-08 once the price clears the current S-T support at 1715.
Gold is sinking lower with the range(4) on the daily chart. The current candle patterns are a bearish sign similar to those(3) before. However, stay tuned for the US Fed. Announcements, a new trend, may start later on today.
S-T Resistances:
1735
1728-30
1720
Market price: 1717
S-T Supports:
1710
1705
1700
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P. To