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The gold market will stabilize after the electionThe focus of the financial market is the US presidential election, which is about to enter a key moment. According to poll results, former President Donald Trump and Vice President Kamala Harris compete fiercely. However, investors are taking cues from the betting market, which has shifted in Mr. Trump's favor. The USD hit a 3-month high on data showing the US economy remains strong and Trump's victory is likely. Fed policymakers are almost certain the US Federal Reserve (Fed) will cut interest rates at its November meeting. The Fed's next policy meeting is expected to begin immediately after the election US President on November 5. The Fed's first rate cut in September brought the policy rate down to a range of 4.75-5%. Data released last week showed that the core personal consumption expenditure index (excluding food and energy prices) increased 2.7% in 12 months. Inflation has remained at this level for the past 3 months. 🔥 XAUUSD BUY LIMIT 2733 - 2731🔥 ✔️ TP1: 2755 ✔️ TP2: 2765 ✔️ TP3: OPEN 🚫SL: 2724 🔥 XAUUSD SELL LIMIT 2753 - 2751🔥 ✔️ TP1: 2745 ✔️ TP2: 2735 ✔️ TP3: OPEN 🚫SL: 2760
OANDA:XAUUSDShort
by FalCol_TradingMaster
GOLD has corrected down, facing a BIG event weekOANDA:XAUUSD rose quickly after weak non-farm payrolls data, then fell sharply from highs above $2,760/ounce and finally closed lower, closing at around $2,736/ounce. Gold prices quickly rose to 2,760 USD/ounce after the release of US non-farm payroll data, showing that only 12,000 new non-farm payrolls were added in October, much lower than the 113,000 expected. expected and much lower than in September. However, gold prices have since dropped and lost all of their price gains during Friday's trading day. Hit by hurricanes and strikes by aerospace factory workers, U.S. nonfarm payrolls increased by just 12,000 in October, the smallest increase since December 2020. Other data from the nonfarm report showed the unemployment rate remained at 4.1% in October, in line with expectations, and the increase in average hourly wages last month increased to 4.0% compared to compared to the same period last year, in line with expectations and higher than the 3.9% revision in September. Hourly earnings increased 0.4% month over month, above the forecast 0.3% and the revised 0.3%. The average number of working hours also increased to 34.3 hours, higher than expectations of 34.2 hours, but still equal to the previously adjusted increase. As noted by readers in the short comments, it is very possible that gold's downward adjustment period is not over yet as Friday's economic data is considered very positive for gold. If it is "theoretically" correct, gold should increase sharply as soon as the data is released, but there are possibilities that the market has digested all the previous data or the data will react after more fundamental impacts. another version. Therefore, I needed to warn about this phenomenon with short comments! Tensions in the Middle East have helped limit gold's decline The BBC reported that Hezbollah launched a rocket attack in northern Israel, killing seven people. It was the worst attack in months and dashed hopes of a ceasefire in the war in the Middle East. There are too many risks ahead of the US election, as well as rumors about Iran retaliating against Israel. Polls show a tight race between Donald Trump and Kamala Harris in next Tuesday's US presidential election. Gold is a traditional hedge against economic and political instability and tends to thrive in low interest rate environments. It must be noted once again that, although gold and the Dollar have been increasing together recently, it does not mean that this correlation has been lost. Gold and the US Dollar have a negative correlation and if Trump is elected, the US Dollar will continue to get stronger because of Trump's policy trends (This has been sent to readers in many publications), the US Dollar will be stronger. This means that gold will be subject to correlation pressure. This week will be a trading week with many "huge" events with the Presidential election and the US Congress along with the monetary policy decision of the US Federal Reserve (Fed). It is expected to have a STRONG and DEEP impact on the gold market trend. Economic data to watch out for this week Monday: Reserve Bank of Australia monetary policy decision Tuesday: ISM Services PMI, US Presidential and Congressional elections Thursday: Bank of England monetary policy decision, US weekly jobless claims, Federal Reserve monetary policy decision Friday: University of Michigan preliminary consumer sentiment Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold has a 2-day bearish correction with the short-term uptrend temporarily lost as price activity falls below the price channel. However, this is not a negative thing because the nearest support at 2,725 USD still keeps gold above it. The relative strength index is pointing down from the oversold area but has not yet reached the 50 level, the 50 level is considered the nearest support point in terms of momentum. Although gold has adjusted down, in the overall picture it still has an uptrend with long-term and medium-term price channels and important support at the EMA21 level. As long as gold remains above the EMA21 and within the price channel, it still has a bullish outlook and the notable points are listed below. Support: 2,725 – 2,710 – 2,700USD Resistance: 2,745 – 2,768 – 2,786USD SELL XAUUSD PRICE 2759 - 2757⚡️ ↠↠ Stoploss 2763 →Take Profit 1 2752 ↨ →Take Profit 2 2747 BUY XAUUSD PRICE 2708 - 2710⚡️ ↠↠ Stoploss 2704 →Take Profit 1 2715 ↨ →Take Profit 2 2720
OANDA:XAUUSD
by Xayah_trading
XAU/USD : Bull or Bear ? NFP's coming! (READ THE CAPTION)By analyzing the #Gold chart in the 30-minute timeframe, we can see that, as observed last night, gold dropped sharply from $2782 to $2731, creating a significant liquidity gap. As mentioned yesterday, the first key demand zone was between $2733-$2735, and once the price reached this critical zone, it was met with buying pressure, leading to a rebound of over 250 pips, taking gold up to $2757. Currently, gold is trading around $2752, with the NFP report ahead. If the NFP data comes in lower than the forecast, it could push gold to higher levels. Conversely, if the data is higher than expected, we might see further declines in gold. There’s no certainty here, so I prefer to observe rather than make any trades on gold today. Good luck, friends!
OANDA:XAUUSD
by ArmanShabanTrading
18
Parody XAU/USD Outlook: Gold’s Election DramaParody XAU/USD Outlook: Gold’s Pre-Election Circus & Post-Election Whiplash Get ready for the ultimate trading drama, featuring XAU/USD (Gold)! With the election madness in full swing, we’re in for a wild ride of market hysterics, gold volatility, and enough overreactions to make a soap opera seem tame. Buckle up, traders, because the gold market is about to serve up some Academy Award-worthy theatrics! The Gold Market Soap Opera: Recap of 2020’s Election Madness (Now Reimagined for 2024) Pre-Election Day Scenario (November 4, 2024) Gold, the self-proclaimed star of market drama, is sitting pretty at $2,734.47, pretending not to care that the world is on the brink of election chaos. Traders, on the other hand, are a mess: pacing, biting their nails, and staring at their screens as if they can will gold to move. • Market Action: Gold barely twitches. It’s as if it’s waiting for the main event, swinging within a tame $10-$15 range. Yawn. • Investor Vibes: Pure anxiety. Everyone’s too scared to make a bold move, choosing instead to sit on their hands and binge-eat their feelings. Election Day Scenario (November 5, 2024) The day dawns with an air of suspense thicker than an over-hyped movie premiere. Gold springs to life, bouncing around like a caffeinated squirrel. Every whisper, every poll update sends prices into a tizzy, and traders are left scrambling: “Do we buy? Do we sell? Or do we run and hide?” • Market Action: Gold swings wildly, showing 1-2% intraday moves as headlines break. It’s a drama lover’s dream, and gold revels in every moment. • Investor Hysteria: Off the charts. Traders flip from optimistic to panicked, clutching their trading platforms like lifeboats. Post-Election Day Scenario (November 6-7, 2024) Results are trickling in, and the market is bracing for impact. If there’s any hint of a contested outcome, gold will go full drama queen, soaring 2-3% just to make sure no one can ignore its grand entrance. Fear and uncertainty are the names of the game, and gold plays both roles to perfection. • Market Action: Volatility goes parabolic, with price swings of $30-$40. It’s a no-holds-barred extravaganza that either makes or breaks trading accounts. • Investor Sentiment: From jubilation to despair, traders are on an emotional rollercoaster. Gold is in its element, basking in the chaos. GOLDontheNILE Fantasy Trade Setup Pre-Election Setup: Gold on Standby • Entry: Long at $2,734.50 if gold starts flirting with the upper resistance, or Short at $2,730.00 if it shows signs of cracking under pressure. • Take Profit: Modest, around $10-$15 per move, because gold isn’t quite ready to commit to a direction. • Stop Loss: Tight, $5-$10, to avoid pre-election jitters catching you off guard. Election Day Setup: Gold’s Main Act • Entry: • Long at $2,742.00 if headlines send traders flocking to gold like it’s the last safe asset on Earth. • Short at $2,735.00 if market optimism kicks in and gold takes a dive. • Take Profit 1 (TP1): $2,748.24 for the longs or $2,730.50 for the shorts. • Take Profit 2 (TP2): $2,754.56 if gold is in full-on rally mode, or $2,727.72 if the sell-off intensifies. • Stop Loss: $2,731.45 for longs or $2,743.57 for shorts, to cover unexpected reversals. Post-Election Setup: Gold’s Encore Performance • Entry: • Long at $2,755.00 if results are contested and gold explodes. • Short at $2,740.00 if a clear winner is declared and risk appetite returns. • Take Profit 1 (TP1): $2,765.00 for longs or $2,733.04 for shorts. • Take Profit 2 (TP2): $2,780.00 for the ultimate gold rally, or $2,720.00 if the meltdown continues. • Stop Loss: Wide and cautious, $10-$20 to account for extreme volatility. The Gold Market Circus: Sessions Breakdown Asian Session: Boring, like a prequel no one asked for. Gold barely moves, even if election gossip starts spreading. Expect $10-$15 ranges, max. European Session: Things get semi-serious. Traders perk up, trying to decipher what’s going on. Expect $20-$25 ranges as Europe starts caring about election drama. American Session: Absolute mayhem. Gold swings like it’s in a drama contest, moving $30-$40 on wild headlines. Traders will either strike gold or cry into their trading logs. VIX: The Unpredictable Wild Card VIX is in full-on drama mode, teetering between “Total Panic!” and “False Alarm.” If it spikes, expect gold to ride the fear wave. If it calms down, gold might sulk back into obscurity. Conclusion: Gold’s Love-Hate Relationship with Election Drama So here we are, awaiting another episode of market chaos. Will gold shine like a Hollywood star or sulk like a rejected diva? Only time—and election results—will tell. Until then, expect gold to keep traders on their toes (or knees, begging for stability). Stay sarcastic, trade smart, and may your trading accounts survive the election drama!
FX:XAUUSD
by ICHIMOKUontheNILE
You Know: This Is Comprehensive Sell Trade setupCore Analysis Method: Smart Money Concepts - 7 Dimension Analysis This analysis provides a short-term sell setup within a larger bullish swing structure, using liquidity levels, chart patterns, and volume to determine an ideal entry point for a pullback. 😇 7 Dimension Analysis Time Frame: H1 Swing Structure: Bullish Structure with Break of Structure (BOS): The current structure remains bullish, with a BOS already confirmed. However, there are signs of a potential pullback. Inducement Complete: Liquidity has been gathered in previous moves, indicating a probable short-term correction. Current Price Zone: The price is positioned in a discounted zone, making it an attractive area for initiating a short position during this pullback. Point of Interest (POI): Key Order Block (OB) and Fair Value Gap (FVG) areas are located around the 2724 price level, with liquidity resting here. Pattern: 🟢 Chart Patterns: A Rounding Top and Triple Top formation is present at the swing’s high, which could signal a reversal or the start of a Deep corrective move. 🟢 Candle Patterns: A Double Bottom is forming, with the last candle closing as an inside bar and showing bullish support. This pattern suggests a potential short-term rally toward the FVG area before resuming a bearish correction. Volume: Sell-side volume is showing strength, indicating the presence of sellers and supporting a potential downside move within this pullback. Momentum (RSI): 🟢 Momentum shows the price in a super bearish zone with signs of weakening bullish strength. A bearish divergence is visible at the top, suggesting a decline in bullish momentum and adding weight to a probable short-term reversal. Volatility (Bollinger Bands): 🟢 After a contraction, a squeeze breakout has been observed, with the price walking along the band. This formation often points to strong momentum, and in this case, it supports the downside breakout and potential continuation of the bearish pullback. Strength (ROC & DMI): Rate of Change (ROC) indicates an increasing bearish trend. Bear DMI Line is above the 20 level, with an upward ADX curve, indicating that bearish strength is building. Rating: ⭐⭐⭐ Probability: 60% The overall analysis suggests a moderate confidence level, with strong indicators for a short-term bearish correction within a larger bullish swing structure. Trade Setup: Entry Details: Entry Time Frame: M5 Entry TF Structure: Bearish Point of Interest (POI): FVG Trade Execution: 💡 Decision: Sell Limit 🚀 Entry: 2753 ✋ Stop Loss: 2763 🎯 Take Profit: 2725 😊 Risk to Reward Ratio: 3.5 RR 🕛 Expected Duration: 1 Day SUMMARY: This setup aims to capture a bearish correction within a bullish structure on the H1 timeframe. Key reversal patterns, such as the Triple Top and bearish divergence on RSI, alongside increased sell-side volume, suggest potential for a short-term downward move. A Sell Limit order is planned around 2753, targeting a quick pullback to 2725, with a favorable risk-to-reward ratio of 3.5 RR.
OANDA:XAUUSDShort
by Optimum369
XAUUSD 3/11/24We have a short bias on gold this week, mainly to establish a better price level in case the market decides to move higher again, based on the daily timeframe gap. This is the first bearish gap in over a month, which indicates a strong chance for a possible sell-off. We’ve marked the lows, and currently, there are no unmitigated areas of demand. Given our bearish bias, this is expected, as previous areas of demand or support are likely to be broken, allowing the price to reach a more favorable level for future buying opportunities. There’s also an area of supply marked above, which could push the price lower. However, we're primarily looking for a short-term sell-off, with a longer-term expectation of reaching all-time highs again, driven by strong fundamentals supporting gold. This pullback is likely a temporary correction in the overall uptrend. Since we haven’t seen a pullback in a while, a correction is ultimately inevitable. Where it will end and turn bullish again is uncertain. This week, our focus is on the liquidity levels marked for potential reactions. Trade based on current price action and follow your plan. Stick to your strategy, manage your risk, and consider the supply area as a possible point for selling into the lows. Follow your plan and stick to your risk.
OANDA:XAUUSD
by rosshayes
2
Gold: another fresh new ATHOngoing geopolitical tensions and mixed macro data in the US pushed the prices of gold to the newest all-time highest level in this year. Gold reached the highest level at $2.785 on Wednesday, but reverted a bit back on Friday, amid US Dollar strengthening, at level of $2.735. The US Treasury yields also gained after disappointing Non-farm payrolls data for October, which had an additional impact for the price of gold. Despite the new ATH, the RSI is showing that the price of gold has moved from the overbought market zone. The indicator moved down till the level of 59 on Friday. This is indication that the market might soon start looking at the oversold market side, however, it will take some time until the clear side is reached. For a few months now there has been no change with moving averages of 50 and 200 days, as they both move as two parallel lines with an uptrend. The week ahead could be a tricky one. There are US Presidential elections on November 5th, and FOMC rate decision on November 7th. Both events might bring higher volatility on markets. Any trades should be taken with precaution. As per current charts, there is potential for a further correction of the price of gold, where the $2,7K level might be tested. A correction below this level might trigger a $2.680 level. At this moment a further move to the upside could be triggered in case of further geopolitical escalation in the Middle East. Still, as previously noted, a higher volatility might easily be triggered in the week ahead.
OANDA:XAUUSD
by XBTFX
XAU/USD shorts from 2,760 or Longs from 2,720This week, my analysis suggests that gold may continue to drop, targeting the trendline liquidity formed below. Once that liquidity is taken out, I anticipate a bullish reaction, potentially around the demand zone I have identified. If the price retraces up to the supply zone, I’ll look for potential sell opportunities to follow this short-term bearish trend. Since my overall bias is bullish, I am more inclined towards long positions due to the higher time frame outlook. However, if the price surpasses any of my nearby Points of Interest (POIs), I’ll watch for a deeper retracement around the demand at 2,680 or the supply at 2,780. Confluences for Gold Sells: - Price has shown a bearish shift on the higher time frame. - Supply zones remain on both the 1-hour and daily charts. - There is significant trendline liquidity below, providing a target for further downside movement. - The dollar has been moving bullishly, which aligns with a potential drop in gold. - Gold has been in a strong bullish trend and may be showing signs of exhaustion, hence the recent heavy decline. P.S. I’ll stay vigilant and assess where the price moves first. If price breaks structure to the downside, I’ll have a stronger inclination to sell. Have a great trading week!
OANDA:XAUUSDShort
by Hassan_fx
Gold Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:XAUUSDShort
by ShahedZare
Is the bullish rally over?Gold continues to show upside potential, maintaining a bullish trend. It is currently supported around the 2731 level and may test resistance at 2758, followed by 2790. If it breaks through these levels, it could aim for a new all-time high around 2880. However, a drop below the 2731 support level would bring attention to the next support levels at 2708 and then a stronger support at 2685. Some indicators hint that a pullback might follow after testing these higher levels, signaling a possible shift toward bearish momentum.
TVC:GOLD
by adeelzahoor76
GOLD MARKET ANALYSIS AND COMMENTARY - [Nov 04 - Nov 08]This week, after rising to 2,790 USD/oz, OANDA:XAUUSD then continuously dropped sharply to 2,733 USD/oz and closed the week at 2,736 USD/oz. According to the US Bureau of Labor Statistics, the US's October non-farm payrolls (NFP) report showed that the country only created 12,000 jobs, significantly lower than the forecast of 100,000 jobs due to the impact of the coronavirus pandemic. recent storms. Although the US economy created fewer jobs than expected, the country's unemployment rate in October remained unchanged at 4.1%. Meanwhile, wage inflation increased. Specifically, average hourly earnings increased 0.4% last month, higher than the forecast of 0.3%. In particular, the US's basic Personal Consumption Expenditures (PCE) Index for October - the FED's favorite inflation measure - remained at a high level of 2.7%, unchanged from the level of July and October. All of the above economic data show that the FED is in a difficult position when production activities decline sharply, the labor market weakens, but inflation remains continuously high. However, many forecasts are likely that the FED will still cut interest rates by another 0.25% next week, but will cautiously announce the direction of interest rate cuts in the next meetings. In addition to the FED meeting, next week there will also be the US Presidential election on November 5. According to forecasts of many experts, it is likely that Donald Trump will be re-elected as US President. If Mr. Trump becomes US President in the next term, he will impose strong tariffs on imported goods as promised during the election campaign. This will push inflation up, forcing the FED to delay interest rate cuts, and may even have to raise interest rates again. Thus, next week's gold price is at risk of being double-impacted by the FED meeting and the US presidential election. 📌Technically, in the H4 chart, gold price still shows a clear uptrend when the price trades above the EMA89 moving average. Next week, if gold prices still trade above the 2720 threshold, we can expect gold prices to continue to maintain an upward trend. In case the price will return to a downward adjustment cycle if the 2710 support zone is broken, correspondingly in the H1 chart, the gold price forms a head and shoulders model. If this model is correct, the gold price will find its way back around mark 2650. Notable technical levels are listed below. Support: 2.700 – 2.710 – 2.720USD Resistance: 2.786 – 2.768 – 2.745USD SELL XAUUSD PRICE 2776 - 2774⚡️ ↠↠ Stoploss 2780 BUY XAUUSD PRICE 2649 - 2651⚡️ ↠↠ Stoploss 2645
OANDA:XAUUSD
by Xayah_trading
2
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK Hey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing a gap above at 2751 and a gap below at 2733. We will need to see ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. 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 2751 EMA5 CROSS AND LOCK ABOVE 2751 WILL OPEN THE FOLLOWING BULLISH TARGET 2768 EMA5 CROSS AND LOCK ABOVE 2768 WILL OPEN THE FOLLOWING BULLISH TARGET 2782 EMA5 CROSS AND LOCK ABOVE 2782 WILL OPEN THE FOLLOWING BULLISH TARGET 2799 BEARISH TARGETS 2733 EMA5 CROSS AND LOCK BELOW 2733 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2717 EMA5 CROSS AND LOCK BELOW 2717 WILL OPEN THE SWING RANGE RANGE SWING RANGE 2705 - 2692 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
20
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK Hey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing a gap above at 2754 and a gap below at 2724, as weighted Goldturns and will need ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. 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 EMA5 CROSS AND LOCK BELOW 2724 WILL OPEN THE FOLLOWING BEARISH TARGET 2696 EMA5 CROSS AND LOCK BELOW 2696 WILL OPEN THE RETRACEMENT RANGE 2672 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
6
GOLD DAILY CHART SHORT/MID TERM ROUTE MAPHey Everyone, Please see update on our daily chart idea that we have been tracking for a while with the updated retracement and swing range. Previously after completing 2725 target, we stated that we had a candle body close above 2725, opening 2760. Although ema5 is lagging on this chart but we still also got the ema5 cross and lock to further confirm this target. - This was hit last week completing this target!!! We now have a candle body close above 2760 for a continuation above with a gap open to 2797, but no ema5 lock, which would further confirm this. Failure to complete this gap will see price test the retracement range for bounces and a further lock below the retracement range will open the swing range. 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 will 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
5
WEEKLY CHART MID/LONG TERM ROUTE MAPHey Everyone, Please see update on our weekly chart idea that we have been tracking and trading over the last 4 weeks. Last week we stated that we had a candle body above 2729 leaving long range gap open to 2856 and Ema5 lock will further confirm this long range target. - We got a nice push up, which we took using our smaller timeframes but the gap remains open and we are yet to see the ema5 lock to further confirm this. We will also be keeping in mind the channel top for long range corrections, which is likely to provide support like we stated before, if tested at all. As stated before if the channel top continues to provide support then we will track the movement up, confirmed with ema5 cross and lock or candle body close. However, if we continue to see tests on the channel top and then get a break inside the channel, then we will track the movement down, inline with our plans to buy dips, using our smaller time-frames, keeping in mind the long range gap for the future.. Buying dips allows us to safely manage any swings, instead of 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
3
Gold is in the bullish direction after correcting the supportHello Traders In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET today Gold analysis 👆 🟢This Chart includes_ (GOLD market update) 🟢What is The Next Opportunity on GOLD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
OANDA:XAUUSD
by ForexMasters2000
Creating your Trading Plan🔸Creating a comprehensive trading plan is a foundational step for any trader, whether you are involved in forex, stocks, options, or crypto markets. A well-structured trading plan outlines your trading goals, strategy, risk management protocols, and the psychological mindset necessary for success. Let’s break down the core components: strategy, risk management, psychology, and confluence. 1. Trading Plan Strategy A trading strategy is a set of rules or guidelines you follow to identify, enter, and exit trades. Here are the elements to consider: ▪️Market Selection: Define which markets you will trade (e.g., forex pairs, stocks, cryptocurrencies) and what your time frames will be. ▪️Trading Style: Will you be a day trader, swing trader, or a long-term investor? Your style will influence your strategy. ▪️Entry and Exit Rules: Specify the technical or fundamental indicators that will trigger your trades. For example, you might use moving average crossovers, support and resistance levels, or candlestick patterns for entry and exit points. ▪️Trade Execution: Outline how you will place trades and manage your orders (e.g., market orders, limit orders, trailing stops). ▪️Backtesting: Before committing real money, test your strategy on historical data to understand its effectiveness. ▪️Example: Suppose your strategy involves trading breakouts. You would define what constitutes a breakout, how to confirm it, and the risk/reward ratio you expect before taking a trade. 2. Risk Management Risk management is about preserving your capital and minimizing losses. It's a critical part of any trading plan and focuses on controlling how much you stand to lose on each trade and how to protect your account over time. ▪️Position Sizing: Determine how much of your capital you will risk per trade. Many traders risk no more than 1-2% of their total capital on a single trade. ▪️Stop Losses and Take Profits: Always use a stop-loss to cap potential losses and set a take-profit order to lock in gains. This should be part of your trading strategy. ▪️Risk/Reward Ratio: Ensure that the potential reward on a trade is worth the risk. A common minimum risk/reward ratio is 1:2, meaning you risk 1 unit of currency to make 2. Diversification: Spread your risk by trading multiple assets or markets instead of concentrating all your capital in a single trade or asset class. ▪️Example: If your account balance is $10,000, and you decide to risk 2% per trade, the maximum loss you would accept on any trade would be $200. This would dictate your stop-loss placement and position size. 3. Trading Psychology The psychological aspect of trading is often underestimated, but emotions can greatly impact your decision-making. Maintaining a disciplined and objective mindset is crucial. ▪️Emotional Discipline: Avoid trading based on fear, greed, or impatience. Develop routines that keep your emotions in check. ▪️Handling Losses: Accept that losses are part of trading and learn not to let them affect your confidence or decision-making. Sticking to your plan, even after a loss, is crucial. ▪️Confidence and Patience: Build confidence in your strategy through thorough backtesting and practice. Be patient and wait for high-probability setups. ▪️Avoid Overtrading: This happens when traders try to chase losses or enter trades impulsively. Stick to your plan and don’t trade just for the sake of it. ▪️Example: If you find yourself becoming anxious or stressed during a losing streak, take a break from trading to reassess your mindset. Practicing mindfulness or keeping a trading journal to reflect on your emotions can be very helpful. 4. Confluence Confluence in trading refers to multiple factors or signals aligning to indicate a strong trade setup. Relying on confluence increases the probability of a trade working in your favor. ▪️Technical Confluence: This might include a combination of support/resistance levels, Fibonacci retracement levels, moving averages, or chart patterns lining up to give you a higher confidence trade. ▪️Fundamental and Technical Confluence: Sometimes, combining technical analysis with fundamental data can strengthen your trade setup. For instance, a bullish technical setup supported by positive economic news. ▪️Multiple Time Frame Analysis: Check if your trade setup looks strong on multiple time frames. For example, a bullish signal on a daily chart confirmed by a shorter time frame like 4-hour or 1-hour charts. ▪️Example: Imagine you see a bullish reversal candlestick pattern at a major support level, and your moving average indicates an upward trend. This confluence of signals might give you more confidence to enter a long position. 🔸Putting It All Together A successful trading plan ties these elements together to give you a clear roadmap. Here’s a simplified example of a trading plan: 🔸Goal: Achieve 5% account growth per month. Market: Trade major forex pairs (e.g., EUR/USD, GBP/USD) during the London and New York sessions. 🔸Strategy: Use a breakout strategy confirmed by volume and momentum indicators. Enter trades when a breakout occurs from a key support/resistance level. 🔸Risk Management: Risk 1.5% of the account balance per trade. Use a 1:2 risk/reward ratio. 🔸Psychology: Practice emotional discipline. Use a trading journal to record trades and emotions. 🔸Confluence: Only take trades when at least three confluence factors align (e.g., breakout, volume increase, trend confirmation). 🔸By crafting and following a trading plan that incorporates strategy, risk management, psychology, and confluence, you increase your chances of trading success while minimizing potential losses.
Education
by ProjectSyndicate
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