Gold Spot Elliott Wave Analysis: Bearish Reversal Ahead ?FX:XAUUSD FX_IDC:XAUUSD PEPPERSTONE:XAUUSD
📊 Analysis Overview:
We're seeing a potential completion of the 5th wave in this Elliott Wave structure, signaling a possible end to the bullish momentum. A corrective move down is expected to follow soon.
🔺 Rising Wedge Formation:
The price is currently testing the resistance of a rising wedge, a bearish reversal pattern. If this pattern plays out, a break below the wedge's support could signal a sharp move down.
📉 Critical Resistance Level:
The key level to watch is $2,564. If the price fails to break and hold above this level, it will likely confirm the start of the anticipated correction.
🔻 Bearish Target:
After the 5th wave, we could see a decline towards the $2,350 - $2,400area, aligning with a corrective ABC pattern.
📈 Trade Idea:
A potential short opportunity could arise once we see a clear break below the wedge's support. Keep an eye on price action around $2,564 for confirmation of the bearish scenario.
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This analysis suggests a short-term bearish bias after the completion of the current bullish wave. Always ensure proper risk management!
J-DXY
GOLD LONG TO $2,550Although I'm already short on Gold from $2,526 I have warned on my previous sell analysis that we might see early sellers get shaken out the market through volatile price action. We might see 1 more ATH on Gold towards the $2,540 - $2,550 price zone before the CORRECTION starts.
This is a highly probable scenario considering we're now at the start of a new month, so we can expect;
⭕️Liquidity Grab On Monthly Candle.
⭕️3 Sub-Waves (W,X,Y) To Complete Wave 5.
⭕️Shakeout Of Early Sellers & Late Buyers.
I will ONLY take a buy position if Gold first reaches Wave I, breaking structure to the upside, followed by a retest towards Wave II. If this does not happen I will not be looking to buy.
DXY: Move Up Expected! Buy!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 101.875
Wish you good luck in trading to you all!
Pre ECB Rates Decision Analysis12th September (ECB Rates Pending)
DXY: Climbing towards 102 resistance, could push higher if EUR weakens, needs to break 102.20 for further upside to 102.70
NZDUSD: Sell 0.6135 SL 20 TP 60 (Hesitation at 0.6110)
AUDUSD: Sell 0.6685 SL 20 TP 60
GBPUSD: Sell 1.3030 SL 25 TP 60
EURUSD: Rates decision pending, straddle opportunity, Sell 1.0985 SL 20 TP 45
USDJPY: Sell 143.50 SL 50 TP 150
USDCHF: Buy 0.8585 SL 40 TP 80
USDCAD: Sell 1.3580 SL 30 TP 70
Gold: Needs to stay below 2520 for downside to 2500
High Timeframe Analysis of the Dollar Index DXY - Short IdeaDISCLAIMER: This is not trade advice. This is for educational and entertainment purposes only, showing how I intend to participate in this market. Trading involves significant risk. Do your own due diligence.
Utilizing my Multi Timeframe strategy, I have identified that I would like to look for SHORTS on DXY. To clarify, I'm not saying I'm blindly shorting this market. If I see price action that checks the boxes for this strategy, I will take the short. Until then, I do NOTHING.
SETUP - > TRIGGER - > FOLLOW THROUGH.
Feel free to shoot me a message with any questions.
Have a great week!
DXY: Market Is Looking Down! Sell!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 101.416
Wish you good luck in trading to you all!
DXY Will Go Lower! Sell!
Take a look at our analysis for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 101.699.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 99.580 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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DXY: Key Levels to Watch Ahead of CPI Data ReleaseWith the CPI data release on the horizon, the DXY is hovering near critical levels. Traders should keep a close eye on the price action as volatility could spike. The red and green lines on the chart mark important zones that may influence the market’s next move—whether it's a breakout or a reversal.
Curious how these levels might react to the news? Drop a comment below, and follow for more insights as the data approaches!
*Disclaimer: This is not financial advice. Always trade responsibly!*
Pre-CPI Analysis11th September
DXY: Consolidating, should stay below 101.50, CPI Pending, break below trendline to trade down to 100.85, key support at 100.55
NZDUSD: Buy 0.6175 SL 20 TP 60
AUDUSD: Buy 0.6690 SL 30 TP 60
GBPUSD: Sell 1.3115 SL 20 TP 65 or
Sell 1.3030 SL 20 TP 60
EURUSD: Could retrace to trendline and reject, Sell 1.1075 SL 20 TP 60
USDJPY: Sell 140.70 SL 50 TP 130
USDCHF: Sell 0.8484 SL 20 TP 80
USDCAD: Sell 1.3570 SL 35 TP 70
Gold: Retest of 2530, rejection down, below 2517 could trade down to 2485
USDX, DXYUSDX price is near the support zone 101.18-99.89. If the price cannot break through the 99.89 level, it is expected that the price will rebound. Consider buying the red zone.
🔥Trading futures, forex, CFDs and stocks carries a risk of loss.
Please consider carefully whether such trading is suitable for you.
>>GooD Luck 😊
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DXY: Market Is Looking Up! Buy!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 101.957
Wish you good luck in trading to you all!
GBP/USD : Possible Fall Ahead ? (READ THE CAPTION)By analyzing the GBP/USD chart on the 4-hour timeframe, we can see that the price has reached a demand zone and has also created a Fair Value Gap (FVG) near its current level, which I expect to be filled in the short term. After that, I anticipate further decline in GBP/USD. The potential targets for this drop are 1.31060, 1.30870, and 1.30330.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Levels discussed on Livestream 10th September10th September
DXY: Consolidate along 101.60, could push higher to test 102 round number resistance.
NZDUSD: Sell 0.6125 SL 20 TP 40
AUDUSD: Sell 0.6645 SL 30 TP 60
GBPUSD: Buy 1.3140 SL 20 TP 60
EURUSD: Looking for a retest of 1.10 support level
USDJPY: Buy 144.25 SL 30 TP 90
USDCHF: Buy 0.8510 SL 20 TP 50
USDCAD: Sell 1.3545 SL 20 TP 60
Gold: Break above 2507 to trade up to 2520
GOLD LONG TO $2,550 (1H UPDATE)Gold overextended to the top more than I expected as part of Wave I. This was followed by a huge dump back down during NFP towards our supply zone. I am still bullish on Gold from this zone, but I am very wary & will be careful as price action has been very volatile the past few trading days.
DXY Will Go Lower! Short!
Here is our detailed technical review for DXY.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 101.521.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 100.405 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
Like and subscribe and comment my ideas if you enjoy them!
DXY: Strong Bearish Bias! Sell!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 101.396
Wish you good luck in trading to you all!
A retest before heading lower...DXY is around 101.17, potentially about to retest previous support as resistance around 101.2… Reclaiming this zone and closing above 101.5 could be short term bullish. A continuation of bullish momentum could lead to a retest of 102.4 around 18 Sep, tying in with Fed’s rates decision.
DXY 4hr AnalysisThe market dropped back to the strong support zone (100.742) on Friday, then immediately bounced back up. The price is heading back to the minor resistance zone (101.842) before we may see another rejection and a potential retracement down.
However, if the level is broken, the price may likely reach the 102.420 key zone area before we see another pullback.
With CPI and inflation rate data coming out within the week,
what is your projection for DXY? Please share below