Xauusdforecast
GOLD (XAUUSD): Consolidation Continues
Quick update for Gold.
The market is currently stuck within a wide horizontal range on a 4H time frame.
After a test of the resistance of the range, we see a strong bearish reaction to that:
the price formed a double top pattern and broke its neckline.
I think that the price may drop to the support of the range.
Goal - 2484
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XAUUSD: Bullish move has not yet finished! More Growth to come! OANDA:XAUUSD
Our last idea is going well and we still expect price to continue growing until it reaches our final; take profit area. However, we think that price is likely to do a small correction in two hours timeframe, after that we can see a continuous bullish move which will likely to take the price to another record high .
goodluck and trade safe!
XAUUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
XAUUSD - GOLD - Scalping Mode! 28th AugLet's see what the market has to offer.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
XAUUSD - GOLD - Scalping Mode! 26th AugLet's see what the market has to offer.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
Gold's retreat continuesSan Francisco Fed President Mary Daly said on Monday that the Fed must "carefully" complete its work to control inflation, noting that rising unemployment is increasingly becoming a risk. Chicago Fed President Goolsbee is still waiting for inflation to cool further, which is part of the process to open the door to rate cuts. Goolsbee told CNBC that he was "privately optimistic that we will see improvement in inflation" and that he was hopeful that the Fed would be "slightly more confident on inflation" and believed that pressure was declining after being higher than expected at the beginning of this year. Cleveland Fed President Loretta Mester still believes that the Fed needs to continue to actively sell mortgage bonds as part of its efforts to continue to reduce the size of its balance sheet. These bonds were purchased to restore market function and stimulate the economy after the outbreak of the new crown epidemic. As government debt continues to grow and geopolitical tensions remain intensified, more countries will reduce their investment in the US dollar. As investors wait for the Federal Reserve to launch a new round of easing cycle, the global gold spot market remains well supported, and central banks in many countries continue to buy gold and reduce their investment in the US dollar. Gold will be sensitive to US PCE data, but this will not stop its long-term upward trend. While waiting for the latest inflation data such as the PCE in May in the United States to be released on Friday, the gold market has fallen into a stable state.
Technical analysis of gold: Yesterday, gold had a volatile downward trend, and the trend was completely under control, as everyone witnessed! Yesterday, gold opened at $2,321. In the morning, gold slightly retreated to $2,317 and then started a volatile rebound trend. The highest rebound in the European session touched the $2,332 line and then started a wave of decline. We also entered the market precisely at $2,331! Gold fell as expected, and the lowest decline in the European session touched the $2,320 line. We made a big profit on our short orders! Gold in the US market did not go out of a continued market, but continued to start a volatile trend. The range was $2,320 to $2,335 and ended in a volatile trend. It finally closed at $2,333. The daily line closed with a long lower shadow line. After this pattern ended, the current downward trend of gold remained unchanged. From the daily line pattern, the rebound will continue to give us a good opportunity to short!
Gold rebounded yesterday, but the bull market is not sustainable. Gold is just a rebound. Gold has not reversed yet. The rebound in the morning continues to be short. Gold 2300 will eventually break. Let's wait and see! The moving average of the gold 1-hour chart is about to form a dead cross downward. Once the dead cross is formed, the gold shorts will also exert their strength. Gold 2300 will eventually be difficult to maintain and will be broken. Gold rebounded yesterday and was still under pressure from the 2335 resistance, and the moving average resistance also moved down to around 2336; gold rebounded in the morning and continued to short near the 2335 resistance. On the whole, the short-term operation strategy for gold today is to focus on rebound shorting and callback longing. The short-term focus on the upper side is 2335-2341 resistance, and the short-term focus on the lower side is 2295-2306 support.
Will the price of gold still fall today?U.S. data released on Thursday showed that the number of Americans filing for initial jobless benefits in the week ended June 15 was 238,000, compared with expectations for 235,000. The pace of U.S. homebuilding fell to its slowest pace in four years in May as higher interest rates took some of the momentum out of the housing sector earlier this year. Data last week showed some easing in labor market and price pressures, while weak retail sales data released on Tuesday showed that economic activity remained sluggish in the second quarter. While the Federal Reserve is leaning toward one rate cut, market speculation suggests two cuts could come, driven by slowing inflation and cooling economic conditions. These factors have kept traders on their toes, awaiting upcoming economic reports for clearer clues. Precious metals bulls became more confident later in the week after data earlier this week showed weak U.S. retail sales. According to CME Fed's "FedWatch," traders are now pricing in about a 64% chance of a September rate cut by the Federal Reserve. Falling interest rates reduce the opportunity cost of holding gold as it does not earn interest. Rising geopolitical risks have helped gold prices rise. Tensions are rising in the Middle East as Israel threatens to launch an attack on Hezbollah in Lebanon. This, coupled with the recent agreement between Russia and North Korea, may increase the appeal of gold, which is currently trading near key resistance levels. Despite the rebound in the US dollar, gold prices still hit a new high this week. The Fed's expectations of a rate cut in September are good for gold. Geopolitical risks and political uncertainty in Europe also provide support for gold.
Gold market trend analysis:
Gold technical analysis: Gold has recently collapsed from the high of 2388, and fell to around 2287 to be supported. This week did not continue the decline, but rebounded with a slow and volatile rise. The next day, there was a continuous rise, successfully breaking the 2450-2388 downward channel, and the highest has returned to around 2365, and stabilized at the key point of 2342. Gold has currently broken through the key points of 2345-2355, and the 4-hour continuous rise has opened up the Bollinger upper rail space. The daily line also ended with a big rise, and the MA5-MA10 moving average maintained a golden cross. Short-term bulls have regained their upward momentum, and bullish sentiment is relatively optimistic. What needs attention is that today is Friday, beware of the sharp decline and the appearance of black swans.
Yesterday, it was explained that the price of gold fell into the end of the triangular wedge consolidation. Sure enough, the price breakthrough ushered in a wave of accelerated rise. There is no pursuit of long prices. After the price rises, there will be a drop and then it will rise again. The price did not lose the key price of $2323 mentioned in the morning, so it will continue to rise. The price continued to rise in the second half of the period, and the hourly chart bulls rose in large volume. It is very certain that at present, under the premise of the bullish trend of the daily line in the medium term, the short-term price has left the line area. The next step is to pay attention to where this wave of bulls will rise! But for us, we only need to pay attention to the structure of the one-hour pattern. Only when the top pattern appears at the one-hour level in the future market can the end of this round of gains be established! On the whole, the short-term operation strategy of gold today is recommended to be mainly short-selling on rebounds, supplemented by long-selling on pullbacks. The short-term focus on the upper side is the 2365-2367 line resistance, and the short-term focus on the lower side is the 2323-2326 line support.
XAUUSD Teeters on Edge: Multi-Timeframe Wedge & Channel ShowdownDaily Timeframe Analysis-
Pattern: Rising Wedge
Description: The daily chart shows a rising wedge pattern. This pattern typically suggests a potential bearish reversal, especially if it appears after a prolonged uptrend. The wedge is narrowing as it moves upwards, indicating a possible weakening of bullish momentum.
Implication: If the price breaks below the lower trendline of the wedge, it could signal a significant downward move. Conversely, a breakout above the upper trendline might invalidate this bearish pattern, leading to a continuation of the uptrend.
4-Hour Timeframe Analysis-
Pattern: Rising Channel within the Wedge
Description: The 4-hour chart also reveals a rising channel pattern. This channel aligns with the broader wedge on the daily chart, but it's more refined, offering a closer look at price movement within the larger structure.
Implication: The price is near the upper boundary of the channel, indicating a potential reversal point. A break below this channel would likely confirm the bearish scenario from the daily wedge.
1-Hour Timeframe Analysis-
Pattern: Descending Channel and Liquidity Zone
Description: On the 1-hour chart, there’s a descending channel forming, along with a liquidity zone just below the current price level. This suggests that the market is in a corrective phase after a previous upward move.
Implication: This setup suggests two potential outcomes:
Bullish Scenario: If the price breaks above the upper boundary of the descending channel, it could signify a resumption of the upward trend, targeting the upper boundary of the rising wedge on the daily chart.
Bearish Scenario: If the price fails to break above and instead drops below the liquidity zone, it could trigger a downward move toward the lower boundary of the rising wedge, potentially leading to a breakout.
15-Minute Timeframe Analysis-
Pattern: Flat Flag within the Descending Channel
Description: The 15-minute chart shows a flat flag pattern forming within the descending channel. This is a continuation pattern, often signaling that the price may continue in the direction of the preceding trend after a brief consolidation.
Implication: The immediate direction could be determined by whether the price breaks above or below this flat flag:
Bullish Continuation: A breakout above the flag and descending channel could lead to a strong upward movement.
Bearish Continuation: A breakdown below the flag would align with a continuation of the downward trend within the descending channel.
Key Takeaways and Strategy
Multi-Touch Confirmation: The trendlines have been touched multiple times across the timeframes, especially on the daily and 4-hour charts, which strengthens the validity of these patterns.
Liquidity Zone: The 1-hour chart's liquidity zone is a crucial area to watch. A decisive move away from this zone could confirm the next significant price direction.
Entry Types: Given the patterns, traders might consider a risk entry at the current levels within the descending channel on the 1-hour chart, looking for a breakout. Alternatively, waiting for a reduced risk entry after confirmation of a breakout or breakdown could be more prudent.
In summary, the charts present a potential turning point for XAUUSD, with significant implications depending on whether the price breaks out of the descending channel on the 1-hour chart. Monitoring the key levels identified across these timeframes will be essential for making informed trading decisions.
First short gold, then long goldBrothers, today is a new beginning, let's trade happily together! Currently, gold has risen to around 2526, approaching the previous high of around 2532 again. Obviously, the recent buying support below is strong, and the market is enthusiastic about going long. So gold has not seen a decent retracement.
However, I don’t think chasing gold is a wise choice now, so going long gold is not my first choice now. On the contrary, I will still choose to short gold in an appropriate amount to gain gold's retracement space. The short-term resistance above is located in the 2535-2540 area. However, in this market, I don't expect too much room for decline. The first support below is around 2510, followed by the 2495-2490 support area below.
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XAUUSD Analysis: Multi-Timeframe Insights for Trend ContinuationMonthly Chart (1M):
The monthly chart shows a strong uptrend with consistent higher highs and higher lows.
The current candle appears to be testing a resistance level, which is crucial as it may indicate whether the uptrend continues or pauses for a correction.
The presence of a small consolidation pattern could suggest a potential breakout, either upwards if the trend continues or downwards if a reversal occurs.
Weekly Chart (1W):
The weekly chart also shows an upward channel, where price action is moving between parallel support and resistance lines.
The market has been respecting this channel, which implies a continuation of the trend as long as the lower support line holds.
The proximity to the upper resistance line indicates that a breakout could be imminent, but caution is advised as this could be a false breakout.
Daily Chart (1D):
The daily chart shows a similar upward trend with minor consolidations along the way.
The price is currently near the upper boundary of its recent channel, signaling potential resistance.
If the price breaks above this channel with strong volume, it could be a good bullish signal.
4-Hour Chart (4H):
The 4-hour chart shows a more detailed view of the short-term consolidation within the larger trend.
The price is testing the upper boundary of its current channel, which suggests potential resistance.
A breakout or rejection at this level will determine the short-term direction of the price.
1-Hour Chart (1H):
The 1-hour chart shows short-term fluctuations with the price approaching a key resistance level.
This timeframe is crucial for day traders, as it will provide insights into immediate price movements.
The market is currently testing the resistance level, so watching for any breakouts or rejections here will provide clues for intraday strategies.
15-Minute Chart (15M):
The 15-minute chart is showing very short-term movements, perfect for scalping strategies.
The price action is currently testing resistance with some consolidation patterns visible.
This timeframe will likely reflect the immediate reaction to key levels, which can be critical for timing entries and exits.
Summary:
Across all timeframes, XAUUSD is in a strong uptrend, with price action consistently forming higher highs and lows.
The higher timeframes (1M and 1W) indicate a continuation of the bullish trend, provided that key resistance levels are broken.
Lower timeframes (1D, 4H, 1H, and 15M) show consolidation near resistance, indicating potential breakouts or reversals in the short term.
Traders should monitor these resistance levels closely and watch for breakouts or signs of reversal, depending on their trading strategy and timeframe.
XAUUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GOLD IS GONNA HIT 2600 SOONHello Guys Hope You Are Doing Great.
So Let's Dive In The GOLD.As My Expectation On Gold Elliot Wave Analise That I Publish Last Week Is Still The Same For The Rest Of the market Structure. As My Expectations Gold Has Bounce Back From The Nearest Daily Resistance (Daily RBS) After Making The ATH Last Week And Now Again At The Level Of Last Daily Resistance.
There's A Higher Chance To Break The Daily Resistance On Monday Or Tuesday Next Week. If Only Break this Daily Resistance Gold Will Push Up Maybe Without A Pullback Fore At Least 500 - 1000 Pips On Straight. Because Powell Show A Green Light For The All Markets With Last Week Speech That Indicate That In The Near Future The Will Be Interest Rate Cuts But If Not Gold Will Touch The SWAP Zone Faster Then Ever.
So This Is My Next Week Expectation On Gold.
Wait For More LTF Analise Soon.
XAUUSD GOLD Mines Bullish Robbery Plan To steal the GoldMy Dear Robbers / Traders,
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XAU Upcoming Analysis Analysis:
1. Trend Change: The chart shows a sharp rise followed by a pullback, indicating that the strong bullish momentum has paused. The price then experienced some volatility, with lower highs forming after the peak.
2. Support Levels:
• The price tested the 2483.25 area, where it found support before attempting to move back up.
• The price is now approaching the 2497.15 level, which could act as a potential resistance or pivot point.
3. Resistance Levels:
• The peak near 2530.05 marks a significant resistance level.
• Intermediate resistance may be observed around 2506.80 and 2512.50
XAUUSD Strong Bullish Bias**Monthly Chart**
Last month's XAUUSD (Gold) candle closed as a large bullish candle after creating a new record high shy of the 2,500 level (round number). This indicates that traders will try to push the price higher to break the record high. This is in line with geopolitical reasons happening in the Middle East at the current moment.
This month's candle, which is still active, tested 50% of last month's candle and tried to push higher again after a large sell-off on Monday—5th August 2024.
August monthly candle is still bullish and recorded an all-time high at 2,531.76
**Weekly Chart**
Last week, the candle closed as an indecision doji candle, after recording a new high on 20th August. However, the long-term bias is still bullish, and there is a high probability that XAUUSD will reach a new high in the coming weeks. The price tested 50% of FVG candle of the previous week at around 2,470 then pushed higher after the Fed Chair Power's speech during the Jackson Hole Symposium on Friday.
**Daily Chart**
Last Friday's candle closed as a bullish manipulation candle (or Order Block candle), after testing the IPA (FVG) the previous day and moved higher.
All time frames are aligned, and a higher move for XAUUSD is suggested. I will only look to buy at retracement with good risk parameters for a target above the 2540 level.
Look for entry points from lower time frames such as 4H and 1H.
XAUUSD - GOLD - Scalping Mode! 23rd AugLet's see what the market has to offer.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
XAUUSD: Gold prices will continue to reboundGold price can be bought when it retreats to 2496-2491. Investors with large funds can enter the market in advance.
tp2510.
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Risk events continue to ferment. Gold prices hit a new low of 2470 and then continued to rebound sharply. It has now risen by 30 US dollars.
Many people are often blind in their operations. But members who continue to pay attention will know the accuracy of my signals. This week is another week of big profits.
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XAUUSD: Bullish Trend Faces Key Resistance; Short-Term Bearish Daily Chart Analysis:
Ascending Channel:
The price is moving within an ascending channel, indicating a bullish trend over a longer time frame.
The upper trendline acts as resistance, and the lower trendline as support.
Daily LQZ Levels:
Several daily liquidity zones (LQZ) are marked:
2,532.560: Acting as a key resistance level.
2,470.480: Another support level, closer to the current price.
2,416.392: The lowest support level in this view.
Price Action:
The price recently tested the upper trendline and showed signs of pulling back.
The price might test the lower levels, possibly towards 2,470.480 or even 2,416.392.
4-Hour Chart Analysis:
Rising Wedge Formation:
A rising wedge is forming, often considered a bearish pattern in this context.
The price is near the upper boundary of this wedge and the key resistance at 2,501.939.
Key Levels:
2,501.939: The current resistance level on the 4-hour chart, corresponding to the LQZ.
2,470.480: Support level aligning with the daily chart.
Expectations:
The rising wedge suggests a potential downside move, especially if the price fails to break above 2,501.939.
A break below the wedge could see the price testing the lower LQZ levels.
1-Hour Chart Analysis:
Descending Channel:
The price action shows a descending channel within the broader bullish context.
This indicates a short-term bearish correction within the larger uptrend.
Key Resistance and Support:
2,501.939: The key resistance here also aligns with the 4-hour chart.
2,470.480: Support level, likely to be tested if the bearish momentum continues.
Possible Move:
If the price remains below 2,501.939, it could continue its descent within the channel, testing the 2,470.480 level.
15-Minute Chart Analysis:
Tight Consolidation:
The price is consolidating within a very tight range near the 2,498.410 level.
The consolidation is within the context of a larger descending channel visible in higher time frames.
Potential for Breakout:
Given the proximity to key resistance and support levels, a breakout from this range could lead to a sharp move.
A downside breakout might lead to a test of 2,470.480, while an upside breakout could challenge 2,501.939.
Short-Term Strategy:
Traders might look for a breakout of this consolidation area to position themselves for a quick move towards the aforementioned levels.
5-Minute Chart Analysis:
Short-Term Setup:
The 5-minute chart shows the price attempting to break out of a very tight descending wedge.
A bounce off the lower trendline might provide a short-term buying opportunity, while a break below could signal further downside.
Immediate Levels:
2,498.600: Immediate resistance; a break above this level might lead to a quick rally to 2,501.939.
2,470.480: Remains the key support to watch on any downside move.
Summary:
The overall trend on the daily chart remains bullish, but shorter time frames show potential bearish setups, suggesting caution is needed.
Key levels to watch include 2,532.560 on the upside and 2,470.480 on the downside.
In the short term, price action within the 2,498-2,501 range will be crucial to determine the next significant move.
This analysis should provide a comprehensive overview of the XAU/USD pair across different time frames. Let me know if you need further insights or specific strategies based on these charts.