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Xauusdlong

Gold Favors Beyond $2,600Technically, the $2,600 round - number level, which is also the all - time high reached on Wednesday, may present some resistance before the $2,613 - 2,615 zone. This $2,613 - 2,615 zone represents the upper edge of a short - term ascending trend channel that has been in existence since June and should function as a crucial pivot. Since the oscillators on the daily chart are firmly in positive territory and are still far from the overbought area, a continuous strength above this mentioned level will be considered a new incentive for the bulls and will prepare for a further short - term upward movement of the gold price. On the contrary, the $2,551 - 2,550 area currently seems to guard against the immediate downward movement before the $2,532 - 2,530 horizontal resistance break - point. Some continuous selling could expose the psychological level of $2,500. If the gold price drops below this level, it could speed up its decline towards the $2,476 convergence point, which consists of the 50 - day Simple Moving Average (SMA) and the lower edge of the channel. A definite break below this point will imply that the XAU/USD has peaked in the near - term, leading to a decline towards the 100 - day SMA, around the $2,412 area, on the way to the $2,400 mark.
OANDA:XAUUSDLong
by Tekapo-Invest
Proof Technical Analysis Reigns SupremeIn doing my multi-timeframe analysis from earlier in the evening I was bias long. However I wasn't sure if price wanted to make a deeper pullback to the 1H LQZ I had marked up or even come down for the 3rd touch of my trendline in the ascending wedge (reversal pattern). Dropping down to the 5m timeframe I saw price slowing and formed a hover. I could have set an entry using a lower lot size to build a buffer, confidence, and to be able to participate in the markets - but I didn't. I passed out lol. I knew my bias was still correct and I was confident in taking "another" long position. I saw a larger flag with the close of that flag above a resistance zone or LQZ however you want to label it, and knew my bias was still valid. I took my entry as I saw price stalling forming some 5m dojis. After the first big push up I was able to reduced my risk letting the trade play out. My TP was initially aiming for the high of the day. However I was mindful of NY taking longer to play out and I knew I wasn't able to really monitor my trade. So I "didn't get greedy" and snagged my profits at about 80 ticks on the futures chart. This was a huge lesson in trusting the story price tells us through market structure and patterns. Although I didn't participate in my first trade, the trade I did take would have been a great stack-in. I'm glad I was able to participate today as my best and only trading days are Thursdays and Fridays.
OANDA:XAUUSDEducation
by MommaPreneur
2
XAUUSD: Sell@2577-2590 Have a nice day. I was away on a business trip Tuesday, and just got back today—I hope everyone is doing well. Gold did not follow my initial expectation of a decline. Instead, after breaking through resistance, it experienced a significant rally. Today, it broke past 2580, setting a new all-time high. Based on current indicators, the market still has upward momentum, and we can't rule out the possibility of testing 2600. However, before that happens, there will likely be a test of support. Thus, my trading approach is to short gold in the 2577-2590 range for now.
OANDA:XAUUSDShort
by Mia-Signal
Gold Set to Decline After European Session Today, the primary focus is on short positions after the European session. During the Asian session, there may be another test of the upper resistance, but the probability of a breakout is low. Therefore, after the European session, bearish momentum is expected to take control. Our trading strategy should align with this trend by initiating sell positions. In the near term, the market is likely to decline towards the 2550 level, with a medium-term target around the 2487 zone.
OANDA:XAUUSDShort
by Mia-Signal
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:XAUUSDLong
by ForexMasters2000
Focused on Key Price Levels, Not TimeIn my latest analysis, I’ve moved away from traditional timing methods and focused entirely on Gold’s key price levels. Gold is currently in the final grand wave (Wave 5) of the Elliott Wave cycle. Right now, we’re in Wave 3, just as the fifth subwave is beginning. My first take-profit target is set at 2589, based on my own trading plan. After hitting this level, I’m expecting more upward momentum toward 2603. Around this point, Wave 4 should start, giving us a bit of consolidation before the final push toward 2800. If this approach makes sense to you, feel free to like and follow for more updates as we keep tracking these moves together.
OANDA:XAUUSDLong
by teconlab
XAU/USD: Preparing for a Buy on 15-Minute Chart Overview: After observing a consolidation period on the 15-minute chart, XAU/USD is showing promising signs of a bullish breakout. The chart attached highlights a critical break of structure (BOS) along with a forecasted path that suggests a possible uptrend continuation. The recent price action has breached previous short-term lows, indicating a potential shift in market sentiment from bearish to bullish. This break of structure could be an early signal of smart money positioning before a significant upward movement. A marked red arrow points to a key structural break, suggesting a potential entry point for a long position. The idea is to initiate a buy once we see a clear break above this resistance, confirmed by increased volume and bullish candle closure. The purple line indicates a potential upward trajectory for the price following the breakout. The forecast is based on historical price patterns and expected market psychology post-breakout. Entry: Buy after a confirmed breakout above the current OB with a solid bullish candlestick. Stop Loss: Just below the most recent low prior to the breakout to mini exposure. Take Profit: Initial target set at the recent high, with a possibility to extend gains if the upward momentum continues. This setup provides a compelling opportunity for traders looking to capitalise on a breakout strategy in gold. As always, ensure to manage risk appropriately and adjust your trading plan based on real-time market conditions.
OANDA:XAUUSD
by Saurabh_R_Bhosale
Gold Forms Triangle Consolidation, Double Top Reversal in Sight? Yesterday, gold made its first pullback to test support and has now formed a triangle consolidation pattern. I anticipate that today will begin with an upward movement, followed by another test of resistance. However, I believe the resistance will hold, leading to another decline. Eventually, gold is likely to break below the trendline, forming a double top at the highs and triggering a significant bearish reversal.
FOREXCOM:XAUUSDShort
by MichaeliaDefoe
Is Gold Predicting a 50-Point Rate Cut? Gold surged to an all-time high before pulling back, as investors await the Federal Reserve’s first move to ease monetary policy in over four years. Traders are pricing in a 67% chance of a 50-basis-point rate cut, according to CME’s FedWatch Tool. Yet, despite growing expectations of an aggressive start to the policy easing, gold has slipped 0.5%, paring last week’s gains to 2.9%. Could we see more downside in gold if a 25-basis-point eventuates from the Fed? $2,530 could be a potential level of support in this scenario. Technical indicators, including the Relative Strength Index (RSI), have eased from near-overbought levels but perhaps not enough to suggest a more significant decline in gold prices is imminent.
BLACKBULL:XAUUSD
by BlackBull_Markets
Gold Nearing Peak: Time to Short Ahead of Expected Pullback Gold has reached a high level, and technical indicators are starting to show signs of weakening. I anticipate that we are about to see the final short-term push upward, followed by a return to a downward consolidation trend. Prices are expected to drop below 2550. The current trading strategy is to initiate short positions, gradually adding more as the price fluctuates, and holding until the downward trend begins.
OANDA:XAUUSDShort
by Mia-Signal