GOLD ELLIOT ANALYSEDear all mt friends gold completed clearly 5 impulse waves. expect strong correction till 2330.
im going wait to decide about entries and positions in London session. so till now you can check my idea and wait for london and newyork session.
if you have any question feel free to ask.
Xauanalsis
XAU has Bullish Structure/Direction in H4, Daily, Weekly Technical Analysis:
- XAU is doing now wave ((4)) in black
- H4 shows a bullish structure
- H1 & H4 right side is turning down
Technical Information:
- If you're a swing trader you can buy when the correction in wave ((4)) is completed
- For position trader you need to wait for wave II in red to be done(Appox. next 6 months)
XAU - H4 (Short Term) is BullishTechnical Analysis:
- Gold (XAU) has just now made a new high since July, 2020
- It has a Weekly and H4 Bullish Structure
- Now the wave (2) in blue is about to complete
- H1 and H4 is turning up
Technical Information:
- If you're swing trader you can buy when the wave (2) is completed
- Do't sell XAU now
Gold long UpdateThis is an update on my trades on Gold. In the last update I warned about further downside as there was pump and dump executed on Gold on OANDA, and we got that and then we pumped to macro-VAH and then rejected strongly from there.
Right now, we are back the entry of our long, I am looking to play this long again but waiting for some confirmation. The previous long was based on Monthly Support at 1940 area coinciding with a harmonic PRZ. As we are approaching the PRZ again without tapping the C point of the harmonic this retrace could play as type 2 return on the harmonic, what we need to monitor is the retrace 0.886 of the current pumps from 1935 to 1984. If they hold and we get some divs at these levels, we are good to go for a long. If interested in taking this long, I would preferably enter at either 786 or 886 and put SL below the current low, preferably below the Macro POC at 1926.
Since Gold is very inversely correlated to DXY we need to monitor that as well.
DXY is currently hitting Golden Pocket and reacting to Bearish BAT, but it's pumping back up, so it's possible DXY as well execute a type 2 on the harmonic and reject again from the PRZ of this harmonic which is good for gold longs.
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Gold Long Update (Caution)This is a cautionary update to the gold long I posted a few days ago, I see a Pump/dump on OANDA. If this is not a glitch, it means some whale collected all the shorts from top of the wick, so there may be more downside on Gold.
highlighted the wick, I don't see it on other exchanges.
Gold Swing Trade (Update)This is my second update on Gold Swing trade. In the previous updated I posted the levels to reenter gold short we got that Bounce 2040 and perfect second entry into the short now we are hovering at important TP level as indicated in my first post for gold Swing trade.
All the previous posts are linked down below
In this chart I have highlighted what happened when we lost the channel mid band last time. Gold lost approx. 4%, and if we measure 4% from the middle of the channel this time it falls on important support which are MACRO POC (Point of Control) and a monthly Support level. But to fall further we need to lose 1980 first. It has acted as a strong support, if gold breaks it will become strong resistance going forward. The probability of gold breaking down is high as DXY bottomed out and broke out last week, if it keeps rallying higher Gold keeps going down.
I have covered DXY bottoming and breakout in my previous posts, you can look at them in the links below.
So, all is good, if you took the trade, TP here a good chunk, move stop loss as per your comfort.
If you like my content, then please boost and share this post. I have over 6 years of trading and investing experience and have learned a lot in this time. I like to share what I have learned. If you would like to learn from my experience then follow me on trading view to get notified on my trade, market projections and several upcoming technical analysis and in-depth tutorials on technical Indicators. You can also leave a comment and let me know if you want me to look at any specific asset or want to learn about any specific topic in the world of Technical Analysis. I Will do my best to create a post for it.
Keep learning and Happy trading All.
Xau/Usd Gold probable sell setup Hello traders gold after recording a new high we have what looks like reversal after a sharp drop from the newly high we was a on pull back that probably will be a distribution in price we seen yesterday the market was trying to balance sell side imbalance now we might see a drop on gold to get to the less resistance liquidity areas lets see how it play out let me know what you think
GOLD NEAR FUTURE PREDICTION(4H Chart)Technical Analysis Summary
XAU/USD
TREND ANALYSIS
We have 1 Downtrend in red color
We have 1 Uptrend in green color which we have currently BROKEN
Be careful trends need to be modified when broken to the new peaks(Downtrend) and lows (Uptrend).
FUTURE PREDICTIONS
We have many resistance and support levels that I have mentioned above.
I use thickness as an indicator of strength of levels (ONLY FOR VISUALS).
White Levels are levels from my past ideas published or levels that were respected from the past.
Good luck everyone, stay safe!
If you need help don't hesitate to send me a message or comment
If you find this content beneficial please don't forget to LIKE and FOLLOW
Trading Involves High Risk
Not Financial Advice
Exercise Proper Risk Management
GOLD NEAR FUTURE PREDICTION(4H Chart)Technical Analysis Summary
XAU/USD
TREND ANALYSIS
We have 1 Downtrend in red color
We have 1 Uptrend in green color
Be careful trends need to be modified when broken to the new peaks(Downtrend) and lows (Uptrend).
FUTURE PREDICTIONS
We have many resistance and support levels that I have mentioned above.
I use thickness as an indicator of strength of levels (ONLY FOR VISUALS).
Yellow Levels are levels from my past ideas published or levels that were respected from the past.
Good luck everyone, stay safe!
If you need help don't hesitate to send me a message or comment
If you find this content beneficial please don't forget to LIKE and FOLLOW
Trading Involves High Risk
Not Financial Advice
Exercise Proper Risk Management
XAUUSD Overall Analysis Hello traders thank you for viewing another one of our video breakdowns of XAUUSD.
We will always provide our community with daily updates and current status of gold. Currently looking for XAUUSD to continue its bearish trend down into the 1964-1960 levels.
From there I will update you on my bias for the intraday trades throughout the week. I may not be able to post once it gets down there as I will be asleep but we are looking for buys again out of that reigon with some redfolders coming up for news tomorrow. We can certainly see another volatile day out of gold!
As always set your stops set your takes and be sure to always use proper RR!
Thank you for your support!
XAU New Entries + Exits (Best Reverse Strat Ever)The 1on1 video is currently out, if you would like it in order to understand how to play my analysis FULLY, please let me know privately.
All likes/comments and feedback are very much appreciated!
How to play my chart:
Buy at support, sell at resistance. When you open this chart you'll see a green entry and a red entry. When the candlestick hits the green entry, you place a buy. If however that support buy doesn't go into profit and goes negative -35 or -60 pips (depending if it was a fast break/or if the break landed on a minute 15 zone), if it breaks you would then exit your buy and immediately enter the sell. You would then ride that sell down to green TP1, or you could then repeat and play the buy/break there.
The same exact thing goes for resistance sell/break plays!
GOLDGold is moving bearish, if we see price have a little push up, to form a lower high on the hourly, i will enter a short trade down towards $1910.000.
As you can see we are in a descending channel. I have drawn a pink pathway of what I think price action will do.
I will only look for longs once we see a reversal candle set up around the weekly level at $1910.
If are interested in the potential trade, please comment below.
Also make sure you only risk 0.5%-1%
Have a great day!
XAUUSD Long Entry TriggeredHope all is well,
Sharing a technical analysis on GOLD as an overview my overall bias is long. Please be sure to always use proper risk management. We are looking for targets of 1940 1944 and 1949.
If you like the idea be sure to follow for more trade setups. I would love to build a community of professional traders strictly watching gold. I do dable occasionally into gold GJ but other than that you too should be focusing on mastering one single pair or indices.
Gold on Buy Hey bulls we have seen some volume entering the game now, gold is on its way to 1900 $
on the volume indicator, I see some banks and big financial institutions put some liquidity to the market, XAUUSD is about to reach 1900 -1910 resistance area, the US retail sales MM previous was 0.8, the forecasting is 1.4 the actual is 1.7
The broad-based gain in spending highlights how elevated savings and rising wages have helped Americans sustain a robust pace of merchandise spending. Though total retail sales are well-above pre-pandemic levels, a recent inflation-driven collapse in consumer sentiment risks a future tempering in demand.
Results from Walmart (NYSE: WMT) Inc. and Home Depot Inc. (NYSE: HD) earlier on Tuesday showed households are broadly maintaining robust demand for merchandise even as higher inflation squeezes purchasing power. Comparable sales at Walmart in the latest quarter exceeded forecasts while home-improvement retailer Home Depot reported stronger-than-expected results.
I see the market maker tend to safe haven for this period of the pandemic.