XAUUSD Potential for Bullish Continuation | 14th November 2022On H4, we have a bullish bias with the price breaking the descending channel and above the ichimoku cloud. Looking for a pullback buy entry at 1727.850, where the 23.6% Fibonacci line is located. Stop loss will be at 1680.935, where the 61.8% Fibonacci line is. Take profit will be at 1802.641, where the previous swing high is.
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Xau-usd
XAUUSD 4hour Analysis November 13th, 2022Gold Bullish idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: After last week we can now see that gold is bullish on all major timeframes.
Going into this week we’re ideally looking for gold to continue bullish, we just need to see some structure first.
Look for a higher low as close to 1675.00 as possible before entering long.
Trade scenario 2: The other likely scenario is that gold keeps rallying without structure formation. If this happens we can’t do anything yet.
💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
1674.85 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 1674.85 is broken.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 1616.52 on 11/03/2022, so more gains to resistance(s) 1807.13, 1850.71, 1878.75 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 70.
Take Profits:
1658.96
1688.79
1708.45
1730.00
1765.00
1807.13
1850.71
1878.75
1914.23
1980.16
2074.89
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💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
1674.85 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 1674.85 is broken.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 1616.52 on 11/03/2022, so more gains to resistance(s) 1807.13, 1850.71, 1878.75 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 70.
Take Profits:
1658.96
1688.79
1708.45
1730.00
1765.00
1807.13
1850.71
1878.75
1914.23
1980.16
2074.89
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
XAUUSD | Potential Forecast | 13 November 2022Hi guys, Chern Yu here.
I use smart money concepts (SMC) in analysing charts and price.
Confluences used:
1. Demand/Supply zones
2. Liquidity
3. Structure
4. Market inefficiencies
Analysis:
- Gold is hovering around 1771 area currently.
- Possibility of tapping into H4 supply zone.
- Price is structurally bullish and will look for longs next week.
- Higher highs and higher lows being formed.
- Will be identifying possible short term reversals once it taps into supply zone above.
Let's smash the next week!
Do make sure to leave a comment and give a boost!
I will be more than happy to answer any questions there are!
Cheers,
CY
Gold at 1680, a decision level...Despite having bounced strongly from the 1617 support level, Gold consolidates along the 1680 price level. As the price consolidates and fails to break higher, this signals the potential for a reversal.
A reversal in Gold could also be driven by a recovery in the strength of the DXY.
Look for the price to break below 1660 to indicate a downside potential, with the key support level at 1617.
Alternatively, if Gold trades higher to break above 1685, Gold could continue trading higher toward the next resistance level of 1725.
XAUUSD: Bearish outlook seen, limited downside below 1687.00On the H4 time frame, prices are facing bearish pressure from the resistance at 1687.00, in line with the descending trendline and Fibonacci confluence levels where we could see a further downside below this zone to the support zone at 1651.00. This support zone lines up with the graphical support and 50% Fibonacci retracement. Stochastic is testing resistance at 95.72 as well where we could see further downside below this level.
XAUUSD 4hour Analysis November 6th, 2022Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Despite last weeks’ huge bullish volume we are still overall bearish. As long as price action remains below 1675.00 bearish is our bias.
Going into this week we’re looking for reactions from 1675.00 and we can spot a couple good setups if we do head bearish again.
Look to enter short on significant rejection & lower highs after a break of support.
Trade scenario 2: For us to consider gold bullish again we would need to see a significant break above 1675.00 with a higher low above.
Only in this scenario I would consider longing gold given the current price action.
GOLD 1000PIP SHORTGOLD SHORT
Why are we entering?
- Expecting USD strength = GOLD SHORT
- We are in wave 5, subwave 5, microwave 3 in our Elliot wave analysis
- We are expecting price to reverse at our 0.618 fibonacci level
What is our confirmation?
- Rejection from our 0.618 fibonacci level
- Rejection from our trendline
- Rejection from our structure level
Entry
- Safe Entry: Rejection of our SELL zone with a break of our WFB
- Risk Entry: Rejection of our SELL zone
- Risk Entry 2: Early break of WFB
Once entered, where will our Stoploss be?
- Above our fibonacci: 1691 (50 pips)
Where do we take profits?
First TP - Previous low: 1617 (700pips)
Final TP - -0.27 fibonacci: 1587 (1000pips)
Be sure to check out my other trade ideas below!!!
XAUUSD potential Forecast POST NFP | 7th November 2022Hi there guys,
I mainly use ICT + Smart Money Concepts for my trading.
Analysis
- Last week due to the release of NFP data, price tapped swept the sellside liquidity before gaining strong bullish momentum to the upside
- I also noted out the 2 Daily Fair Value Gaps & buyside liquidity areas.
Idea
Expecting this strong bullish momentum to sweep the buyside liquidity at 1684.620 and potentially bring price to the Daily Fair Value Gaps areas at 1684.040 & 1699.915 respectively
Areas to take note of
1st Daily FVG: 1684.040
2nd Daily FVG: 1699.915
Buyside Liquidity: 1684.620
For entries, always use confirmations on the smaller timeframes! Stay safe trading!
Feel free to follow me, comment + boost this post if you guys enjoyed this!
Regards,
Chen Yongjin
Post FOMC and NFP | GOLD Potential Forecast | 5th November 2022Hi guys! Chern Yu here~
My trading methodology revolves around smart money concepts and liquidity.
This week's data releases from FOMC and NFP gave us plenty of clues as to where price will be headed to.
Fundamental COntext
- FOMC meeting: FED raised interest rates by 75bps.
- Jerome Powell mentioned to increase the terminal rate and seemingly raising rates for a longer period despite saying rate hikes will slow down.
- NFP: prints 261k vs 197k (better than forecast but decreased from last month)
- Unemployment rate: 3.7% vs 3.5% (Rate hikes taking effect, market pricing in the bearish economic outlook for USD)
ALL EYES IS ON CPI PRINT ON 10th NOVEMBER
Forecast
- I believe that next week will be CRUCIAL in telling the direction of price action in GOLD.
- If CPI prints lower and shows it has improved, I anticipate a more risk on environment and USD will depreciate against GOLD or other currencies.
- If CPI prints higher and shows it needs time to get back lower, I believe market will still remain sidelined and USD will still continue to come out the winner. (GOLD appreciates in this case)
I will be giving an update next week so please stay tuned!
It will be an interesting week and there are swing set ups and opportunities waiting on GOLD or EURUSD.
Stay relentless.
XAUUAS REACHED OUR aimXauusd reached our position in long action from yesterday
But to be honest my first action for buying gold was field but i wrote a comment on my past idea that i will get in at new position for long as you saw in chart but there is NP at this cause all of trading stands on risk management….
Stay tuned for more trades as this (400pips)
Follow for more…
XAU/USD is in descending channel, expect 1616 Globally, XAU/USD is in a downtrend in the Month, Week, and Day timeframes.
Locally, XAU/USD is inside a descending channel. XAU/USD got rejected from 1656 with a bearish engulfing in 2-hrs timeframe.
So, in short term (next 2-3 days), I expect the price will be down further to 1616. It's weekly support.
XAUUSD H1: Bullish outlook seen, further upside above 1627.20 On the H1 time frame, prices are approaching the support zone at 1627.20, in line with the 100% Fibonacci extension where we could see further upside to the resistance zone at 1645.50. The 1645.50 resistance zone coincides with the graphical resistance and 38.2% Fibonacci retracement. Stochastic is approaching support as well where we could see a bounce above this level, in line with prices.
Educational Series - Smart Money Concepts ( Liquidity )Hi there guys!
I will be doing a short tutorial on Smart Money Concept's liquidity.
What is it?
- Liquidity acts as a driver to move the market in a specific price range.
- We can find liquidity in areas where many people place stop losses and buy/sell stops.
- Market makers will manipulate the price in order to break through these obvious zones and seize the liquidity.
How to look for them
- You will be looking for areas where price are of relative equal highs/lows.
- Areas where price has not gone to swept the "stop losses"
Why is it useful?
- Helps to forecast where price might potentially head to
- Potential areas for take profits upon clearing of liquidity
- Avoid placing your stop loss at liquidity areas
It takes some time to learn how to spot liquidity.
If you do enjoy this tutorial, feel free to follow me and boost this post! :)
Regards,
Chen Yongjin