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GOLD ROUTE MAP UPDATEHey Everyone, Another great day on the charts following on from the election move that gave the drop into the lower Goldturns and our weighted levels all giving bounces inline with our plans to buy dips. The swing range is providing the swing although the full swing range level has not been tested. We also have the swing completing the retracement range and leaving a candle body close gap above 2696 opening 2724, which will be further confirmed by ema5 lock. Our current range is now between 2640 and 2724 to play within, until we see a ema5 lock breakout to confirm the next range. We will now come back Sunday with our updated Multi time-frame analysis, Gold route map and trading plans for the week ahead. Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
11
Gold price analysis November 8Fundamental Analysis After Trump took office, hopes that his policies would boost economic growth and inflation, to a greater extent, overshadowed the dovish outlook of the Federal Reserve (Fed), which helped revive demand for the US Dollar (USD). In addition, a generally positive risk tone undermined the safe-haven precious metal. Meanwhile, falling US Treasury yields could keep US bulls from placing aggressive bets and help limit any further downside in non-yielding Gold prices. However, XAU/USD, for now, appears to have stalled its nice recovery from the 50-day Simple Moving Average (SMA) support, or above the three-week low touched on Thursday, and remains on track to post a second consecutive weekly loss. Technical Analysis If the correction of gold fails to exceed the 2690 zone, the recovery may last until the beginning of the US session. Our target is around 2676 at this signal. Today's main port area is noted around the bottom of the 2650 correction wave. When gold breaks 2690, wait for a retest and BUY to the 2710 and 2730 zones.
OANDA:XAUUSD
by TVS-Trader
GOLD DAILY CHART UPDATEHey Everyone, Great day on the charts today with our swing range doing exactly what it says on the tin. We got the big drop yesterday from the election volatility, yet our levels were still respected technically, providing the reactional bounce. Swing range bounce gave us 2690. A close above this level will see the upper levels being retested again, keeping in mind the long range gap above on this chart idea. Failure to close above this level will see a retest on the swing range again. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. Our long term bias is Bullish and therefore we look forward to drops like this, which allows us to continue to use our smaller timeframes to buy dips using our levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
12
GOLD 4H CHART ROUTE MAP UPDATEHey Everyone, A volatile day in the markets today from the US election and once again we were able to use our levels to navigate the markets even on a volatile day like this. We did not chase momentum but instead we stuck with our plans to buy dips from our weighted levels for a 30 to 40 clean catch from 2700 level. We are now seeing a further breakdown into the retracement range. EMA5 is lagging due to market momentum. However, although we are seeing price in the retracement range and ema5 lagging behind we will need to see ema5 lock below 2672 to open the swing range. Failure to cross and lock below 2672 will see price push up to test the Goldturns above. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2754 EMA5 CROSS AND LOCK ABOVE 2754 WILL OPEN THE FOLLOWING BULLISH TARGET 2784 BEARISH TARGETS 2724 - DONE EMA5 CROSS AND LOCK BELOW 2724 WILL OPEN THE FOLLOWING BEARISH TARGET 2696 - DONE EMA5 CROSS AND LOCK BELOW 2696 WILL OPEN THE RETRACEMENT RANGE 2672 - DONE EMA5 CROSS AND LOCK BELOW 2672 WILL OPEN THE SWING RANGE RANGE SWING RANGE 2640 - 2611 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
23
XAUUSD Pullback Set-Up Demand at 2722 Targeting 2700The XAUUSD (gold) market has a strong initial demand zone at 2722-17 , where a pullback is expected before facing resistance at 2747-53 , which is forecast as a significant supply level. Our major aim is 2700 , which corresponds to a robust daily demand zone. Geopolitical developments are boosting gold's appeal as a safe-haven asset. Heightened tensions in the Middle East, as well as the ongoing conflict between Ukraine and Russia , have added to risk aversion, attracting investors to gold. Furthermore, the forthcoming presidential election in the United States on November 5 creates uncertainties about prospective fiscal policy moves. Historical trends demonstrate that election outcomes frequently cause volatility in gold as investors hedge against policy changes. These factors are strengthening demand at important levels, which aids our understanding of potential retracements and target zones. If you find this analysis helpful, please consider boosting this idea. Thanks!
FOREXCOM:XAUUSDShort
by bluechipfx