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Xauusdsetup

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
XAUUSD: Analysis and strategy before the Fed rate decisionYesterday's view on gold was still very accurate. In the article, I clearly stated that there would be a correction before the Fed's interest rate decision, and the window period was after the data was released. As expected, under the premise of multiple negative data and a large number of long orders being profited, the gold price fell all the way to 2560, which also gave us the opportunity to close the short positions we held last week. The Federal Reserve's interest rate decision will be announced today. My prediction for a rate cut is 25 basis points. The possibility of 50 basis points is not high in my opinion, but it has to be guarded against. In the context of the upcoming announcement of the interest rate cut, today's trading strategy must be based on the number of basis points of interest rate cuts to formulate a trading plan, so I give the following suggestions for your reference: In the case of a 25 basis point interest rate cut: I personally think that the gold price will rise first and then fall. First of all, the interest rate cut is definitely good for gold, but because of the continuous interest rate cut remarks for a month, the gold price has now reached a historical high of 2590, and has digested the impact of the interest rate cut in advance. The rise in gold prices from 2530-2590 is largely due to some investors' belief that the Fed will be concerned about employment issues, which greatly increases the probability of a 50 basis point rate cut. Therefore, once the announced value does not meet expectations, the price of gold will inevitably fall. In the case of a 50 basis point rate cut: There is no doubt that gold prices will continue to rise and set a new high again.
OANDA:XAUUSDShort
by AntonyTP
Gold on the Edge: Rising Wedge Breakdown or Support Bounce?4-Hour Chart: Consolidation Below All-Time High: After reaching the all-time high, the price is consolidating in a rising wedge pattern. This formation reflects indecision in the market, but the overall structure suggests potential for a downward move. Key Levels: 4H LQZ TP1 (2,550.342): A strong support level and a possible target for short positions if the price drops. 4H LQZ TP2 (2,522.172): The second support level, likely to attract buyers if tested. Strategy: If the price breaks down from the rising wedge and fails to hold support at 2,550.342, a move toward 2,522.172 could be expected. A reversal could occur at either of these liquidity zones. 1-Hour Chart: Descending Channel (near support): The price is trending lower after failing to break above the all-time high. The descending channel is not steep, suggesting mild bearish pressure. Support Levels: 1H LQZ (2,542.481): Immediate support for the current descending structure. 4H LQZ (2,522.172): Deeper support, aligned with the broader market structure, giving more room for a potential pullback. Strategy: A break below the 1H LQZ could accelerate the sell-off, targeting the 4H LQZ. Watch for consolidation or buying pressure at these levels, as they are potential reversal points. 15-Minute Chart: Rising Wedge: The price is forming a rising wedge pattern, which is typically a bearish signal, suggesting potential weakness in the uptrend. The price has made lower highs while testing a crucial support zone. Key Levels: All-Time High (2,589.652): The price tested this region but has failed to sustain momentum above it. This could indicate a major resistance level. 1H LQZ (2,542.481): The first level of significant support, serving as a take-profit target (TP1) for short positions. If the price breaks below, it could accelerate toward this level. 4H LQZ (2,522.172): The next key support zone (TP2), which could act as a strong buying area if the price corrects further. Strategy: Watch for a potential breakdown from the rising wedge. A confirmed break below the wedge and support levels could indicate a stronger move downward toward 1H LQZ or 4H LQZ. Overall Summary: Bearish Bias: Across all time frames, the rising wedge formation points to potential bearish pressure, especially with failure to break above the all-time high. Key Levels: The all-time high (2,589.652) remains the major resistance. Watch for reactions around 1H LQZ (2,542.481) and 4H LQZ (2,522.172) for potential support and buying opportunities. Breakout or Breakdown: If the price breaks below the wedge patterns on the 15-minute and 4-hour charts, further downside toward the liquidity zones is likely. However, a rebound could signal renewed bullish momentum. This setup is perfect for monitoring entry points based on key support/resistance levels and the wedge formations' breakdown potential.
OANDA:XAUUSD
by MommaPreneur
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
XAUUSD: The decline is about to begin, have you sold?After gold rose to the high point of 2580-2590, it basically maintained a shock consolidation this week. So far, no new historical highs have been triggered this week. For now, most investors in the market believe that the Fed's interest rate decision will be a node, but in fact, it is not. I think today's data will be a window for a change. Because the closer the interest rate decision is, the more people will be eager to close the profitable long orders, which will quickly weaken the long force and give the short force an opportunity to take advantage of the situation. So I think there is a high probability that there will be a callback before the interest rate decision. Trading strategy: Sell in the 2580-2590 area, the target is first to look at the 2550 area, and the second is the previous high 2530 area. I personally still hold on to the short orders I held last week. After adding positions at high levels several times, the average price is now at 2567. As long as the gold price falls, our trapped orders can be closed at a profit.
TVC:GOLDShort
by AntonyTP
2
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
Gold: Will start selling above 2590 Currently, the gold price is at 2584. I believe it should rise to the 2590-2596 range before starting to decline, with a significant drop likely to occur, potentially reaching the 2563 area. Therefore, I plan to initiate a sell position near 2590, with take-profit targets set in the 2573-2561 range. Gold's price movement could be influenced by market supply and demand, geopolitical risks, and economic data, so I will closely monitor market developments to adjust my strategy as needed.
FOREXCOM:XAUUSDShort
by MichaeliaDefoe
1
GOLD: The 2570-2580 area is likely to be a stage high pointGold finally ended the suppression of nearly a month yesterday, breaking through 2530 in one fell swoop, and the latest high reached 2572. I mentioned in yesterday's article that if gold does not set a new high in the short term, it may go down, but I didn't expect the impact to be so strong, much more violent than I expected. Yesterday, my Sell position was still held, with a small position at 2543 and an increase at 2550. Now the price has stabilized around 2570. I am going to add a little more, pull the average price appropriately, and continue to hold a bearish view. In my opinion, it is impossible to keep setting new highs. From the previous high of 2530 to the current 2570, it has risen by more than 40 US dollars after setting a new high. According to the previous rising pattern, each time the increase is 50$, so we can conclude that the high point of this rise is likely to be in the 2570-2580 area. Therefore, we don’t have to worry too much about the short orders we hold. The price of gold is likely to start falling from the 2570-2580 area. Next, I will continue to update my ideas in my channel for your reference. If you have any ideas, you can ask me directly.
TVC:GOLDShort
by AntonyTP
1
#XAUUSD: 900+ big move in making| Do not miss out| Setupsfx_OANDA:XAUUSD Gold has been accumulating since past few weeks and it has now reached an exhaustion point where we expect a breakthrough taking out buy side liquidity and creating a record higher high. Since last three days we have been waiting for an outbreak since it did not happen last week even with help nfp. Now looking at how price is behaving we are confident enough that price is going to breakthrough the accumulation phase. As always this is not a guarantee and should only be used for secondary bias, do your own analysis before taking any trade on any instruments. Good luck.
OANDA:XAUUSDLong
by Setupsfx_
12
XAUUSD: Trading in support or resistance areasAfter the CPI inflation data released yesterday, the market predicts that the probability of the Fed cutting interest rates by 50 basis points at the meeting next week has dropped from 44% a week ago to 13%, so the probability of a 25% basis point rate cut in September has basically become a foregone conclusion. Smaller and more conservative rate cuts are not good news for gold, but it is still a certainty that the rate cut will be beneficial to gold. However, after the impact of the rate cuts in the past 1-2 months, most of the gold price has been digested in the process of rising. So I think that if the gold price cannot set a new record high in the next 1-2 weeks, then there will be a downward trend in gold. From the perspective of the gold market, the gold price is now at 2516, which is the middle position between the lower support of 2500 and the upper resistance of 2530. It is not good to be bullish or bearish here, so we need to wait for the market to approach the support or resistance before formulating a trading plan today. The trading plan is as follows: If the gold price reaches around 2530, you can sell here without breaking a new high If the gold price reaches the 2500-2510 area, you can buy without breaking support Based on the fundamentals of smaller interest rate cuts, I prefer to be bearish at high levels rather than bullish at lower levels. Risk data to watch out for today: European Central Bank Deposit Facility Rate U.S. Weekly Jobless Claims Data U.S. August PPI Data
TVC:GOLDShort
by AntonyTP
6
CPI blockbuster data hits, will it break through or fall again?At present, the controversy over whether the Fed will cut interest rates by 25 basis points or 50 basis points in September is still uncertain. Since March this year, the US CPI data has continued to decline, and this CPI is the last heavy data before the Fed's September meeting, and it is also the last chance to shake the expectation of interest rate cuts. As of now, the market expects a 69% probability of a 25 basis point rate cut in September and a 31% probability of a 50 basis point rate cut. Therefore, the results of today's CPI data release are likely to affect the sharp fluctuations in gold. Regardless of the results of today's data release, we must be cautious in trading, because the results of large fluctuations are difficult to judge. At the same time, in addition to the direct impact on the economy, it will also affect the expectations of interest rate cuts. At that time, the large fluctuations in gold prices up and down also need to be prevented. As can be seen from the 4H chart, there is a strong resistance near the 2530 line. So far, it has failed to break through 7 times. Whether it will fall again or set a new high depends on the results of the CPI release. Here I give the following trading strategies for your reference: The first option is to sell at a high level, with a target of around 2505. The second option is to wait for the price to fall back to around 2505 and buy.
TVC:GOLD
by AntonyTP