XAUUSD:Head and shoulders or double top
Gold is currently under pressure at MA5 (2252-2254). If it breaks through, focus on the resistance of 2258-2263, and the support below is 2246-2241. If it falls below the support, consider the 2226-2218 range.
If it falls to around 2226-2223, you can try to trade long and pay attention to controlling the position. The rebound resistance will be concentrated at 2232-2236.
If the bulls make another effort to break through the resistance of 2258-2263, there is a high probability that it will reach a new high. Consider the 2271-2277 range, and at the same time prevent the market from forming a double top near 2270.
To sum up, my overall trading idea is to short at high levels.
Xauusdsell
Gold's rise has reached its peak and is bound to fall
After the opening of the Asian trading session on Monday (April 1), spot gold rose sharply, with the gold price reaching a maximum of $2,265, a record high.
Global geopolitical tensions are one of the reasons for the rise in gold prices, and investors may consider gold as a neutral reserve asset. Strong safe-haven demand, expectations of U.S. interest rate cuts and central bank buying have given gold prices another upward momentum.
The short-term cycle is currently experiencing high fluctuations, and there is demand for a pullback. Therefore, in the current short cycle, we are waiting for the end of the hourly and 4-hour bulls; then we are currently focusing on the high point of 2270, breaking through the price and continuing to surge upward. On the contrary, there will be demand for the price to fall back.
My suggestion is to go short near the high price of 2265-2268 US dollars.
TP: USD 2150
Second TP: $2142
SL: $2278
Gold increased, setting a new record at an unprecedented highGold hit some other file top all through today`s buying and selling consultation as buyers grabbed the safe-haven asset amid growing tensions withinside the Middle East, in large part ignoring a more potent greenback and putting bets on guess on US hobby price cuts.
“We see a few safe-haven call for pouring into gold, associated with the Israeli assault at the Iranian embassy in Syria,” stated Daniel Ghali, commodity strategist at TD Securities.
The trendy surge in gold expenses might be additionally associated with brief promoting from own circle of relatives places of work and specific buying and selling outlets, Ghali added.
Saxo Bank's Ole Hansen stated base shopping for from retail banks and valuable banks become being joined through momentum speculators, who prolonged their already increased shopping for after the gold rush. Break above $2,200.
The aggregate of bullish elements has induced bullion expenses to boom almost 10% because the start of the 12 months.
Independent analyst Ross Norman stated: “What makes the gold rally uncommon is that it comes notwithstanding enormous conventional headwinds together with a growing US greenback, growing Treasury yields, The opportunity of US hobby prices growing withinside the longer term.”
The greenback jumped after statistics on Monday confirmed U.S. production grew for the primary time in a 12 months and a 1/2 of in March.
Traders decreased bets on a June price reduce to 58% from round 60% earlier than the statistics, which beneathneath ordinary instances might have forced hobby-bearing bullion expenses equals 0.
Tai Wong, an impartial metals dealer primarily based totally in New York, stated that even as the gold marketplace stays in a “fantastically bullish mood”, it possibly wishes to consolidate amid a go back to hobby. extra hawkish perspectives at the guidelines of americaA Federal Reserve (FED).
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The fundamental fashion of GOLD continues to be up. With this momentum, GOLD`s growth of 2300 is reasonable.
>With state-of-the-art beat, anybody waits for GOLD's response to MA to shop for once more following the fashion
>Buy GOLD round Area 2275>2278
SL 2273
TP 2286>229x
>Sell Surfing Gold round 2287>2288
SL 2290
TP 2280>2278
Selling rhythm is usually recommended to move for small Vol, anybody.
Already made 17K profit, continue to seize profit opportunitiesToday’s gold trading situation is as follows:
1.Xauusd: @2256-2258 Sell, SL:2266 Loss: -4000
2.Xauusd: @2263-2265 Sell, TP:2255 Profit: +5532
3.Xauusd: @2273-2275 Sell, TP:2255 Profit: +7184
4.Xauusd: @2276-2278 Sell, TP:2255 Profit: +8520
In today's gold transaction, although one of them touched SL: 2266, resulting in a loss of 4K, overall, I achieved a good result of 17K profit in today's gold transaction. If you also follow my trading strategy, I believe you must have also made very good profits.
At present, gold has reached its highest level near 2277 as expected, but then fell back to around 2251, giving up all the gains. According to the current gold structure, this position is expected to become the peak of the stage. Therefore, in our next trading rhythm, it is best not to aggressively pursue long gold above 2260. Secondly, in the 2260-2270 area, we can choose to short gold on highs in batches. I predict that gold will fall to the 2250-2245 area in the short term, maybe even tomorrow.
I will share detailed trading ideas and trading signals every day to help everyone grasp the rhythm of market trading. If you are currently losing money, I am confident that I can help you turn losses into profits in a short period of time; if you are currently making profits, I am more capable of helping you increase profits. If you want to seize more trading opportunities and profits, you can follow the channel at the bottom of the article to get detailed trading signals and trading strategies in the first time.
Gold Retreats from Record Highs Amid Stronger US DollarGold retreated from its recent record high of $2,265.58 per troy ounce, initially gaining ground during Asian trading hours before reversing course in European sessions. Currently hovering around $2,250, XAU/USD finds support from the robust rally of the US dollar following better-than-expected US ISM Manufacturing PMI results.
Technical analysis suggests that gold may continue its correction today and in the near future as it confirms the formation of a peak. This adjustment following its sharp uptrend aligns with the natural market wave cycles, indicating no cause for alarm. Strategically selling into market momentum and observing gold's retraction for the next phase is advisable.
Technical Analysis Points to Continued Upward Momentum for XAUSDDrawing insights from Dow Theory and personal speculation, my technical analysis indicates a sustained bullish trend for XAUUSD over the long term, with a projected peak at 2209.32 pips. Anticipating a retracement to revisit its recent low before resuming its upward trajectory, the analysis suggests a potential retest of the previous low before embarking on a journey towards the first target profit at 2197.67 pips, followed by the second target profit at 2209.07 pips.
This projection aligns with ongoing market dynamics and the broader economic landscape, underscoring the resilience and attractiveness of gold as an investment vehicle amidst global uncertainties. As investors navigate through market fluctuations, a strategic approach guided by technical analysis provides valuable insights into potential price movements and opportunities for profit accumulation.
With careful monitoring and adherence to risk management principles, traders can capitalize on the upward momentum of XAUUSD, positioning themselves for potential gains in the evolving financial markets. As the journey unfolds, staying attuned to market developments and adjusting strategies accordingly will be paramount in optimizing trading outcomes and achieving financial objectives.
Gold price dropsFrom the current market situation, gold peaked around 2275 before encountering resistance and retracement, with the current low point being around 2229. For now, it appears that the bullish momentum has somewhat eased after a strong breakthrough. Additionally, with the continued strength of the US dollar, a return to a bearish sentiment is quite normal. Gold remains theoretically capable of further testing the 2220 area. Gold's 4-hour chart shows signs of a bearish engulfing pattern forming as it retraces from highs, with a bearish bias two bars are emerging. If gold continues to decline, you should not buy at the current high level. During the decline, it is worth paying attention to the support zone around 2239 before making any decisions. If this level is breached, it could indicate that gold has peaked and any recovery could face further downside pressure. As for how low it could go, it's difficult to say, but it could be significant.
Term Gold Trading StrategyWith the ongoing upward trend in gold, the 2257-2259 area holds crucial significance today. Failure to break through here may indicate a continued correction. I'll be looking to short gold in small increments in this zone, especially if a local double-top structure forms. Avoiding long positions near or above 2262 is prudent, as I anticipate potential downward movement. While others chase highs, I'm focused on shorting opportunities. Stay tuned for daily trading insights and signals to navigate the market effectively. Whether you're currently in losses or profits, I'm here to help maximize your gains. Follow for timely trading signals and strategies.
Gold Bullish: Await Retracement for ConfirmationThe current high in gold isn't yet confirmed as a major high, necessitating a retracement for confirmation. There's a possibility of a pullback to retest the level around 2195, providing confirmation for a bullish trend before considering buying. If the price fails to respond to this retest level, it may drop to the major H4 level at 2170 before confirming a buy signal. Wishing you good luck for this week's trading.
Gold Tuesday Trading Strategy
#XAUUSD 2024.4.2
📉Market Direction
Today, the opening price of the gold gate is above the pivot but below the POC. I like the direction of the POC better so my opinion is BEARISH. We have 2 untested virgin POC at 2214 and 2193 so I expect the price will come back here to test before returning to the main trend which is up.
📉Zone Analysis
- 2261: zone m15
- 2272: is resistance according to pivot
- 2283: is resistance according to pivot
So today we will look at SELL:
Entry Sell: 2261 - 2272 - 2283
Target: 2231 - 2214 - 2193
World gold prices stagnated because the USD increased sharplyAfter a sturdy boom at the hole consultation yesterday, whilst coming into americaA consultation, gold fell sharply. Based at the smaller time frame, it could be visible that gold is steadily developing dowtrend models.
Today, we propose which you prioritize promoting on the rate variety of 2250 or better than 226x.
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The marketplace is presently anticipating the Fed to begin reducing hobby costs in June this yr. However, precise facts at the US economic system introduced on April 1 triggered this expectation to decrease. At the equal time, the USD change charge and US Treasury bond yields improved, inflicting gold expenses to stagnate.
Data from the American Institute for Supply Management (ISM) indicates that commercial manufacturing output withinside the US has improved once more and the variety of recent orders has additionally improved. This is the primary time the United States production zone has performed increase after sixteen consecutive months of decline.
After this report, the futures hobby charge marketplace guess on a 58% opportunity that the United States relevant financial institution will reduce hobby costs at its June meeting - in line with the FedWatch Tool of CME buying and selling platform. Last week, this opportunity reached greater than 70%.
Responding to decreased expectancies approximately the Fed lowering hobby costs, US Treasury bond yields improved withinside the first buying and selling consultation of April. 10-yr US Treasury bond yields at one factor improved with the aid of using thirteen foundation points , achieving 4,319%.
Along with that, the Dollar Index measuring the electricity of the USD as compared to a basket of 6 different principal currencies improved with the aid of using greater than 0.5% withinside the first consultation of the week, achieving greater than a hundred and five points.
Swing short selling of goldDear friends, the current gold market has become an irrational market due to risk aversion and trend-following sentiments, so it is relatively more complex. Gold hit a high of 2265 overnight and then fell back. Then gold stopped falling near 2229 and then rebounded slightly. As of now, gold is trading near 2251.
According to the current gold trend, there is no doubt that gold still maintains a trend upward trend, so overall gold still maintains a intact upward pattern. But in the short term, today's 2256-2258 area will be a very critical position. If gold cannot break through this area during the local rebound, then gold will still need to continue its correction.
So in terms of short-term trading, I will try to short gold in small batches in the 2253-2258 area. If gold can build a local double-top structure, the demand for a gold correction will be clearer; on the other hand, when gold is near and above 2260 , I personally will avoid chasing long gold, and I will still look for suitable opportunities to short gold to avoid funds being trapped at high levels.
So relatively speaking, when others were extremely crazy about chasing gold, I changed the direction and started looking for opportunities to short gold;I will share detailed trading ideas and trading signals every day to help everyone grasp the rhythm of market trading. If you are currently losing money, I am confident that I can help you turn losses into profits in a short period of time; if you are currently making profits, I am more capable of helping you increase profits. If you want to seize more trading opportunities and profits, you can follow the channel at the bottom of the article to get detailed trading signals and trading strategies in the first time.
XAUUSD:Short, support 2212-2196
On the last trading day before the holiday, the market was stimulated by the news and rose strongly, reaching a record high. A big positive line in the 1D chart turned the MACD dead cross pattern into a golden cross, and the trend turned to long.
However, judging from past trading experience, there is a high probability that there will be a period of correction after the new high, so in the week after the holiday, my trading focus will be short positions.
Currently, the important support is 2212-2196
In addition, there will be NFP data in the new week, which is the most important data after big news and the focus of trading every month. I will share my trading strategy at that time. Friends who want to follow trading, please prepare in advance.
Continue shorting gold and reap good profitsDear friends, today we shorted gold in the 2263-2265 area and set TP: 2245, making a profit of 18 points and successfully making a profit of 10K, which is a good gain. After touching 2245TP, I used small batch trading lots to chase short gold at 2246 and 2237 respectively, and set TP: 2225. Because gold only touched the lowest position near 2228, these two transactions have not ended yet.but overall there is still a floating profit of 1K.
According to the current trend, although gold has strongly touched a new high of 2265, relatively speaking, I do not advocate continuing to chase long gold at high levels. At present, the hourly and 4-hour graphics show that gold has not yet been adjusted in place, and there is still room for adjustment. This is why I set 2225TP above. Moreover, the sustainability of the risk-off market remains to be considered. Once gold confirms a short-term top, the magnitude of the decline cannot be underestimated.
So relatively speaking, I still insist on shorting gold at high levels; I share detailed trading ideas and trading signals every day to help everyone grasp the rhythm of market trading. If you are currently losing money, I am confident that I can help you turn losses into profits in a short period of time; if you are currently making profits, I am more capable of helping you increase profits. If you want to seize more trading opportunities and profits, you can follow the channel at the bottom of the article to get detailed trading signals and trading strategies in the first time.
When you were chasing gold crazily, I started shorting gold.Dear friends, today we shorted gold in the 2263-2265 area and successfully made a profit of more than 10K, which is considered a good gain. After hitting the TP with this transaction, I used small batch trading lots to chase short gold at 2246 and 2237 respectively. Although these two transactions have not ended yet, overall there is still a floating profit of more than 1K.
According to the current trend, although gold has strongly touched a new high of 2265, relatively speaking, I do not advocate continuing to chase long gold at high levels. The current hourly chart and 4-hour chart show that gold has not yet adjusted in place and there is still room for adjustment. This is why I still have not ended the transaction. Moreover, the sustainability of the risk-off market remains to be considered. Once gold confirms a short-term top, the magnitude of the decline cannot be underestimated.
So relatively speaking, when others were extremely crazy about chasing long gold, I changed the trend and began to insist on shorting gold at high levels; I share detailed trading ideas and trading strategies every day, hoping to help all followers to be successful in the market. Keep making profits! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.
Short again in HLAfter the rise of gold and the fall below the trend line that we expected to fall, we can enter sell positions again and place the Stop loss at the bottom of the chart at the 2270
So, this analysis is a continuation and confirmation of the previous analysis so that we can have more reliable sales with the updated idea.
Gold Tuesday Trading Strategy
Gold rose again after the opening of the day, and rose strongly to around 65, which also allowed the bulls to perfectly release the energy of the impact. At the same time, it is also very likely to continue to wash away the short orders that were stranded in the early stage, so the short-term counterattack will also It directly exhausted the energy of the bulls. After hitting a new high in the early trading, the European and US markets formed a downward trend, and the wave of counterattacks before the US market also perfectly explained the short-sellers' decline in the European market. Counter-drawing before the market is still an ideal position for short sellers to place short orders, and as the U.S. market continues to fall, the top position of the big negative line formed by the hourly decline will also be the point for gold to continue shorting in the later period and suppress the counter-drawing. At the mouth, the current position will also be maintained around 2246-2247, and the support below will also be the area near the previous high point 2222-2220. After rising and falling during the day, a large negative line with a long upper lead will be formed. It may be a signal that bulls have reached the top in the short term, or it may start a wave of decline. The first target below is maintained near 2200. In the short term,
short term operation strategy:
SELL 2246-2247 sl2253.5 tp2230-2220
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Is it okay to short gold now? Caution in a high positionGold has directly risen by about 30 US dollars. If it rises higher, it will inevitably fall back. Look below 2230. Are you ready?
Gold has directly risen by about 30 US dollars. If it rises higher, it will inevitably fall back. Look below 2230. Are you ready?
The golden hourly line K-line deviates far from the moving average, and the K-line will inevitably return to the moving average.
Short gold in the 2263-2265 areaDear friends, gold has repeatedly broken new highs, reaching the highest level of 2265. Gold is still continuing its strong unilateral rise, but as far as current trading is concerned, I do not advocate continuing to chase gold. Because gold continues to be very overbought and deviates too far from technical indicators, there is currently a short-term need for a callback to repair indicators.
So I have clearly informed everyone that we can try to short gold in the 2263-2265 area in small batches (the details of the trading signals are in the channel at the bottom of the article). First try to seize the profits of the short-term correction of gold. After the correction of gold is in place,we would still be long gold following the current uptrend. In this way we can grasp the profits of both long and short parties,
I share detailed trading ideas and trading strategies every day, hoping to help all my followers continue to make profits in the market! If you are worried about missing trading opportunities, you can follow the channel at the bottom of the article to get detailed trading signals, trading strategies, trading lots, and TP and SL in the first time.