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Xauusdidea

XAUUSD June 24, 2024 Will the downward wave continue?Prices are recovering after a sharp drop on Friday. - According to the Elliot wave principle, a sharp wave moving quickly is wave 3 in a series of 5 waves. - So it is possible that the current increase is a correction in wave 4, so we will continue to have wave 5 continuing to decrease after wave 4 correction is completed. - The nearest resistance zone is the 2330 zone. We will monitor this zone and it may be the target of wave 4. - The target zone for wave 5 from the current forecasts is estimated at 2309. After reaching this zone, we will have the completion of the orange wave 1 in the larger wave. - Then the price recovered to complete the 2 orange correction wave. We predict wave 2 target at 2343.59 Trading plan - The main trend is downtrend, so for long-term transactions we prioritize sell orders. The best price zone to enter an order is the price zone that completes the orange wave 2, which is the 2343.59 zone. When the price reaches this zone, look for a confirmation reversal signal to enter the order. - With SCalping trades, we wait for the price to react at the support and resistance zones to enter orders. Note that Scalping trading is a short wave trade, so the TP is usually from 30 pips to 100 pips, so you should focus on managing the trade. Translation to limit risks
OANDA:XAUUSDShort
by DEEKOP
Gold has plummeted, how to trade gold next?After reaching a high on Friday, it fell sharply, giving up all the gains this week. The daily candlestick chart closed with a big negative line, and the weekly line turned down. On Friday, I made the following tips in my private channel: Today is Friday, and it is not ruled out that the main market players took the opportunity to sell, under which circumstances, the gold price was suppressed. In addition, it is currently facing resistance in the 2365-2370 area in the short term. So what we have to do today is to stop chasing the gold price and avoid the risk of chasing more. In terms of trading, we can try to short gold. Obviously, we won a big victory in Friday's trading! We shorted gold with the 2365-2370 area as resistance. Obviously, gold successfully hit the target price in a sharp decline. Personally, I made more than $50,000 in gold trading this week, and maintained a 100% winning rate in trading. Very good results! Gold rebounded after hitting a low of 2317 on Friday. Obviously, the 2315-2310 area still has some support for gold. Therefore, we should not aggressively short gold in trading before gold falls below this area. If gold falls back first at the beginning of the week, we might as well try to go long on gold with the 2315-2310 area as support; the upper short-term resistance area is 2325-2330, and the second key resistance area is 2340-23456. If gold rebounds first and approaches any resistance area, we can choose to short gold! I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
OANDA:XAUUSDShort
by alongwineer
XAUUSD | GOLDSPOT | New perspective | follow-up detailsThe Federal Reserve opted to maintain interest rates at their current levels and delay any potential rate cuts until at least December. Officials foresee only a modest quarter-percentage-point reduction for the year, emphasizing the importance of managing inflationary pressures. Fed Chair Jerome Powell highlighted that despite robust growth and low unemployment rates, the central bank remains cautious, waiting for clear economic signals before making any adjustments. The market reacted to this news, with gold prices climbing over 1% on Friday, fueled by expectations of a possible rate cut soon. Concurrently, the 10-year US Treasury bond yield trended lower towards 4.2%, influencing the XAU/USD pair upward as the week came to a close. This video offers a detailed strategy to help navigate various market scenarios, empowering us to make informed decisions as the market digests the latest developments. XAUUSD Technical Overview: In this video, we take a detailed look at the XAUUSD chart, combining both technical and fundamental perspectives. Our attention is still fixed on the key level at $2,335 for the upcoming week, historically significant and poised to steer trading dynamics. A sustained momentum above this mark could fuel further buying interest, potentially paving the way for fresh highs. Conversely, a bearish tilt below $2,325 might signal a resurgence of bearish sentiment. Join me as we break down these factors and explore potential trading opportunities in the gold market. Don't forget to like, subscribe, and hit the notification bell to stay updated with my latest analysis and insights. #GoldMarket #GoldInvestment #GeopoliticalImpact #InterestRates #AsianDemand #GoldETFs #MarketAnalysis #Investing #TradingTips📺🔔💼 Disclaimer Notice: Trading in the foreign exchange market and other instruments carries high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
EIGHTCAP:XAUUSD
by darcsherry
4
XAUUSD trading plan for the week of June 4, 2024 So after Friday's sharp drop, we had a profit of 500 pips. This decrease also confirmed the completion of orange wave C in the ABC correction. After the ABC correction is completed, we bet that the previous downtrend wave will continue. - With Friday's decline, we see that the momentum has entered the oversold zone, showing that sellers are showing signs of exhaustion. So in the immediate future there will need to be a short-term correction for sellers to regain their strength. - We measure that this decrease is likely to end at 2 price zones: 2309 or 2395. - With the assumption that the price range ends at 2309, we measure the target of this temporary upward adjustment ending at 2340. - Then the price continues to decrease to complete the big wave 5 at the target price areas that we measured before, which are 2256 and 2210. - When does our wave counting process fail? That's when this rally price broke through the 2374 area, then confirmed that we have to do the wave count again, then I will update later if it happens. - On the H4 chart, I have drawn important resistance and support zones, which we can rely on to plan Scalping when the price approaches these zones. - I will update specific price developments every day.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD June 21, 2024 Is the rising wave over?Our wave C target has been achieved, looking at the price we see - Yesterday after the news of unemployment benefits was announced, the price increased sharply to our target area of ​​2364 and is currently correcting. So the price increased sharply and quickly, which is the characteristic of wave 3, then the price decreased and adjusted until now, so it is likely that the price is in wave 4. - So we may have wave 5 to end this wave C and from current price data we can measure the target area for this wave C from 2364 to 2374. We will consider the price range from 2364 to 2374, this is a very good price range to sell down. After the price reaches the target of wave C as above, if the price breaks the 2387.5 zone, then our trading plan must change. In case the price drops, we have the goal of completing the big wave 5 as shown on the chart at area 2256 and area 2210.
OANDA:XAUUSDShort
by DEEKOP
1
XAUUSD:Entering the bearish zone, target around 2268 Gold rose sharply yesterday, breaking through the 2352 resistance in one fell swoop, and is currently located near 2360. The chart is now entering the triangle consolidation stage. After the price breaks through 2352 and stabilizes above it, the resistance has turned into support. Then in the next consolidation stage, the first support to focus on is the area near 2352. The upper resistance is based on the previous high point, which is located near 2368, 2374, 2379 and 2383 respectively. Today, we can focus on 2368-2374. If we enter this range, we can sell directly, and the probability of profit is more than 80%. After the price reached above 2352, my overall trading strategy has changed from long to short, and I will do trend-based medium-term trading, with the target maintained near 2268, just like our previous short target near 2280 and the long target at 2352. It takes a time to complete, so if you want to follow, please be patient!
FOREXCOM:XAUUSDShort
by Allen_Ex
XAUUSD on June 20, 2024 after bank holidayToday will be announced the number of applications for unemployment benefits. This index will tell us how the current economic situation is affected by the Fed's policy on interest rates. If these indexes decrease, it will tell us that the Fed's recent policies have not had a large impact on the economic situation, which will create conditions for the Fed to maintain its hawkish policy and then the USD will increase. and XAU will decrease If this policy increases compared to the previous period, this signals that the Fed's policies are negatively impacting the economy, affecting all classes of people, creating pressure for the Fed to relax interest rates in the future. in the near future and this will cause the USD to decrease and XAU to increase. Price broke out of the triangle wedge this morning with a strong candle. So we are leaning towards the ABC correction model - So the price target of wave C as last time we measured at 2 price zones 2350 and 2365 price zone. - After the price reaches this target, the price will continue to trend down to complete the large wave C in the D1 time frame. - Our current trading plan is to wait until the wave C target at 2350 or 2364 to find a selling point or we can go to smaller time frames for scalping trading.
OANDA:XAUUSDShort
by DEEKOP
1
XAUUSD: Next week we can see bullish dominance: 2000+ pips move!Dear Traders, Upcoming weeks we can see strong bullish price momentum to continue, price successfully rejected at 2290 and then rebounded strongly. Another confirmation that we have is when price reconfirmed the 2300 area where we saw how strongly price moved. These are the two main confirmation that has given us enough confidence to be sure of how upcoming direction the price can be going towards. **If you like the idea then please like, comment and follow us which will encourage us to bring more educational ideas like this** Team Setupsfx_
OANDA:XAUUSDLong
by Setupsfx_
11
XAUUSD: Bearish trend, target 2268 Gold found short-term support near 2300 and rebounded again. It is currently around 2330. The large-scale indicators show that the bullish force has not been fully released. There is a high probability that there will be another wave of upward market in the US market today or early next week. The strong resistance will be mainly concentrated around 2352. At that time, the release of bullish force will end and enter the buffer period. If the indicator cannot form a bullish trend again, the gold price will return to below 2300. The next short target will be around 2268. At present, my trading strategy will be mainly short.
FOREXCOM:XAUUSDShort
by Allen_Ex