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Xauusdsetup

XAUUSD on June 6, 2024, the uptrend officially begins?Yesterday Israel attacked Hamas, causing gold prices to increase sharply last night despite the ISM PMI index being greater than 50. Looking at H1, the news of Israel attacking Hamas has caused the price of Gold to rise through tradingrank for more than a week now. - Price surpasses 2464 and confirms wave 5 has ended at our target area of ​​2317. - From the chart we see that wave 5 is an Ending Diagonal Triangle (ED) wave. This wave usually appears at the end of the trend. When this wave ends, a new trend will open - So we hope the next price target is 2397 - Looking at the H4 momentum indicator, we see that this indicator is in the overbought zone and is about to reverse. Looking at the H1 momentum indicator, we see that this indicator is entering the overbought zone. So in the immediate future, we expect a correction to confirm wave 1 and wave 2. - We have 2 temporary target areas measured on the H1 chart measured from existing data. We continue to observe to wait for this confirmation adjustment to complete. In our plan, we pay attention to the 2397 zone. If the price reaches this zone, there may be a big correction that we can take advantage of to sell down. Adjustment areas 2464 and 2354 may be the price will retest these areas and we can proceed to buy up. Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD June 5, 2024 Yesterday's decline has ended With the PMI being lower than expected at only 48.7 compared to 49.2 in the previous period, if this index is lower than 50, it signals that the expansion of industrial production scale is shrinking. With this index being lower than 50 for two consecutive periods, especially this period being lower than the previous period, it is a sign that the US economy is showing signs of stagnation. The main impact is that interest rates remain high for a long time, making it difficult for people and businesses to access capital. This continues to be a sign for the Fed to decide to cut interest rates in the near future. Looking at H1 we see - After the increase on the 3rd, the price touched the target of wave 5, we expected that wave 5 would have ended and the price would begin to continue a new uptrend. At that time, we also said that to confirm that wave 5 has ended, the minimum condition is that the price must break the 2464 zone. - As of yesterday, the price had dropped back to the target wave 5 area that we measured before. This signals that wave 5 could be a diagonal triangle pattern according to the Elliot principle. - So from H1 in the diagonal triangle model, the price has now reached the end of wave 5 in this diagonal triangle. - We focus on the wave 5 target areas at 2317 and 2311 to buy. - Or safer, we wait for the price to break the upper level of the diagonal triangle and wait for confirmation to proceed with buying.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD (Gold) Technical Analysis and Trade Idea In this video, we conduct a brief analysis of XAUUSD (Gold). Despite experiencing downward pressure over the past three weeks, it is currently approaching a significant support zone. On the three-week timeframe, we observe a bullish trend. Our focus is on identifying a buy entry point within this critical support area, assuming price action aligns with our analysis from the video. As always, the video provides valuable insights into trade entry points, trend analysis, market structure, and price action. Please note that this content serves an educational purpose and should not be construed as financial advice. 📈 🚀📊
FOREXCOM:XAUUSDLong
by fxtraderanthony
5
XAUUSD week 1 June 2024 US economy going down? 1. US Q1 GDP was revised down due to weak consumer spending. 3. Israel will not end the conflict to reach an agreement to release all hostages. 4. OPEC+ is working on a complex production cut agreement for the period 2024-2025. 5. US April pending home sales suffered the largest decline in three years. With important information last week we see - The US economy is under strong pressure from the Fed's tightening monetary policy. - Besides, OPEC cutting oil production will push oil prices up and when oil prices increase, gold also increases. - The continued escalation of the Israeli conflict will push gold prices higher. Looking at H4 we see - After news of PCE, gold price increased sharply then decreased, completely negating the previous increase and breaking 2323 stone. - The 2323 price range was broken, invalidating our previous wave counting process with the expectation that the correction had ended. So with the 2323 price range being broken, the correction process is still continuing. - So it is possible that the price will continue to complete the target of wave 5 at the price range 2317 and 2311. - We have the 2465 zone which confirms wave 5 has completed when the price surpasses this zone - Next week we will wait for the price reaction in these areas to conduct buying transactions. Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD on May 30, 2024, the rally is about to beginWith the wave 5 targets projected on the chart, we have 2 target zones: zone 1 is 2322.7 and target zone 2 is 2311.5. Today will release news on unemployment claims, preliminary GDP, and pending home sales, with forecasts worse than last period, if tonight's actual index reflects correctly. This seems to signal that the US economy is being affected by monetary policy due to maintaining current high interest rates. Tomorrow is an important day to announce the PCI index (Index of price changes and consumer goods purchased by consumers excluding food and energy). If this index cools down, it could influence the Fed to loosen current monetary policy. Looking back over recent times, we see that the CPI inflation index has begun to show signs of decreasing, combined with economic pressure that may cause the Fed to decide to loosen its monetary policy, especially tomorrow if PCI index cooled down. Looking at H1, we see that the price has completed wave 4 and is continuing to complete wave 5. - We see that the current price has broken below the supply and demand balance zone as shown on the chart - With the wave 5 targets projected on the chart, we have 2 target zones: zone 1 is 2322.7 and target zone 2 is 2311.5. - We wait for the price to reach the 2322.7 or 2311.5 areas to find reversal signals to decide to buy.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD May 29, 2024 Is the upward correction over?Looking at the current H1, we see that the price has reached the first target of wave 4 Looking at the preliminary forecast of US economic indicators tomorrow night we see. - Prelim GDP q/q decreased from 1.6% to 1.2% - Unemployment Claims increased from 215K to 218K - Pending Home Sales m/m decreased 3.4% to -1.1% US economic indicators show that the economic situation appears to be weakening due to tightened monetary policies. Maintaining high interest rates today makes it difficult for people and businesses to access capital, leading to a decrease in people's demand for housing consumption, in addition to pushing up raw material prices, leading to increased commodity prices. making it difficult to maintain operations of factories, leading to an increase in people applying for unemployment benefits. This continues to put pressure on the Fed to loosen monetary policy in the near future. Looking at the current H1, we see that the price has reached the first target of wave 4 and the price is reacting sideways in this area. If the price breaks below the 2352 area and then recovers without exceeding the previous peak area, this is a very good sell down signal. - If the price rises above the 2364 area, we wait for the target wave number 2 of wave 4 to find a sell signal. - After the price completes wave 4, it will continue to trend with wave 5. From the current data, we will get the expected targets of wave 5 at target zone 1 at 2322 and target 2 at zone 2311. - In the target areas of wave 5, we will find suitable conditions to enter a BUY order Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD:Bullish, pay attention to the resistance near 2368 The gold small-level trend indicator has formed a bullish trend. Before the US market, the main trend is long. Today's important resistance is still around 2368. The unemployment benefit data to be released during the US market is expected to be favorable to gold bulls. In addition, there is a choice of direction in the market at present, so the volatility will be very intense at that time. If I make a mistake in my prediction, if there is no good risk management measure at that time, the loss will inevitably be relatively large, so everyone must be cautious when trading and do not put their accounts at risk of being burned. If you have any questions, feel free to leave me a message. Good day, good luck to everyone!
FOREXCOM:XAUUSDLong
by Allen_Ex
XAUUSD: 2368-2373 is a good short trading range In the past day, gold reached a high of around 2364, just one step away from the resistance. Today's focus is still on whether the resistance is broken or not. Judging from the current market situation, I still want to try the resistance. It depends on whether I can accumulate enough bullish power in the 2347-2334 range during the backtest. If I can, then there is hope for the first attempt at resistance today. If I want to break through the resistance and achieve the resistance in the range of 2383-2391, there is little chance today. The focus is on tomorrow's data. If it is favorable to gold bulls, then this possibility will be greater. Today's trading focus is on the resistance range of 2368-2373. If it can reach this position, it will be a better short trading area. If it cannot be reached, continue to maintain the strategy of going long at a low position. Friends who need detailed trading signals can leave me a message to receive them.
FOREXCOM:XAUUSDShort
by Allen_Ex
XAUUSD May 28, 2024 How will gold inflation cool down?We can observe the expected target areas above to find reversal signals to enter a sell order. With recent signs of cooling inflation and the fact that the US economy in particular has been directly impacted by high interest rates, the employment rate has decreased. These things will make the Fed's statements no longer resolute in maintaining high interest rates. In addition, the European central bank ECB also announced data to support the interest rate cut in June. Signals show that gold will continue to be supported in the near future to continue its upward price trend. Looking at H1, we see that wave 4 is about to complete. With the price data from the morning of the previous day, we measured the price target at the 2351-2355 range, but now that we have new price data, we have more information. The 2 new target areas are area 2362.5 and area 2371 - Plus the momentum in the H4 frame is still in the overbought zone, this shows that the upward price momentum is showing signs of weakening, besides the H1 momentum is increasing and is also about to approach the oversold zone. reinforces the goals of wave 4 - We can observe the expected target areas above to find reversal signals to enter a sell order. Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
OANDA:XAUUSDShort
by DEEKOP
2368 is the key point, a double bottom cannot be ruled out Gold currently continues to focus on the resistance near 2368, which is the focus of the current trend shift, so if you are trading in the general trend, this position cannot be ignored. If it cannot break through 2368, bulls may counterattack at any time, so the risk of going long at a low level is relatively small. But once it breaks through 2368, you need to be wary of another outbreak of shorts. If you want to chase longs, you must be cautious. As long as there is profit, you must not be too greedy. Taking profits in time is the safe way to trade. The view of the general trend remains unchanged, the strong resistance for rebound is 2368-2383-2391, and the short target is 2280-2230-2200. I wish everyone good luck and feel free to leave me a message if you have any questions.
FOREXCOM:XAUUSDLong
by Allen_Ex
XAUUSD:Bulls still have another chance to attack Gold began to rebound after falling to near the starting point of this rise. Now it is approaching the resistance level, the indicators have begun to weaken, and it is facing another direction choice. If it breaks through, there will be a large rise, followed by a downward trend. If it cannot break through and falls back first, it means there is another chance for an upward move, so the trading strategy is to go long at a low level. In the large-level time cycle, shorts are still the main force, with strong rebound resistance at 2368-2383-2391. The short trend of the large-scale cycle still maintains around 2280 or even around 2230-2200.
FOREXCOM:XAUUSDLong
by Allen_Ex
XAUUSD:2280 is just around the corner The current shape of gold is similar to the head and shoulders. Analyzing the shape combined with indicators, there is a high probability that it will rise first and try resistance. Therefore, the trading strategy continues to be long first and then short, focusing on the 2358-2369 range. If a head and shoulders are formed, a decline to 2280 is inevitable. At that time, the large-cycle graph will have a double top. If the shorts are strong, it is very likely that this time it will fall to the 2230-2200 line, and then a large-cycle upward trend will be formed. Therefore, the market is currently brewing a new opportunity, and I hope everyone can seize it!
FOREXCOM:XAUUSDShort
by Allen_Ex
XAUUSD on May 23 2024 fluctuated strongly after the Fed meeting?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone. Financial freedom is true freedom. Yesterday the Fed meeting with its published content showed - The data shows that commodity prices have increased significantly recently, which indicates that inflation is increasing. - Fed says inflation may take longer to fall - The current federal funds rate is enough to slow US economic activity and reduce inflation With such announcements, it appears that the prospect of interest rate cuts expected by the Fed this year may be changed. When this information was announced yesterday, it immediately pushed gold prices down sharply yesterday session to 2370. Look at H1 - Wave c is the last corrective wave of the abc corrective wave, the structure of wave c includes 5 small waves - The strong and sharp price decrease last night can be said to be wave 3 in wave c being formed. - We expect that the expected target of wave 3 is level 2365 and level 2345 - Then there could be a small correction to complete wave 4 before continuing to complete wave 5 as well as wave c of the correction. - We observe the formation of wave 4 ending to determine the target of wave 5 as well as wave c of the correction Trading plan We continue to observe the completion of wave 3 and wait for the end of wave 4 to determine the target of wave 5 to buy. Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
OANDA:XAUUSD
by DEEKOP
XAUUSD May 21, 2024 Will the price continue to increase?Hello everyone, DEEKOP is ready to bring the most accurate signals and assessments to everyone. Financial freedom is true freedom. The war between Russia and Ukraine has not yet found a voice at the negotiating table, plus President Putin's recent visit to China further shows that Russia will not make concessions to Nato. And recently both Russia and Ukraine rejected the French president's call for a ceasefire during the Olympics in Paris on May 17. These moves further demonstrate tensions in the geopolitical situation The US economy, after a long period of maintaining high interest rates to control inflation, has led to a situation where the economy is showing signs of weakening, although it is not yet in a recession, but with the leading economic index falling. of the US fell 0.6% MoM in April following an uncontrolled 0.3% decline in March. Weaker consumer outlook on business conditions, weaker new orders , negative interest rate differentials and falling new construction permits fueled April's decline. It suggests weaker US economic conditions going forward. With such potential risks, Gold will continue to set new ATHs until the above conditions are resolved. Use the Elliot wave principle to evaluate the situation on the H1 chart - Yesterday gold created a new ATH at 2450, this is the target area of wave 5 that we launched. - Then the price dropped to 2408 and recovered slightly to 2436, so we have the current gold price in the ABC correction wave. - Looking at H1, we see that wave a and wave b are likely to have completed and currently the gold price is completing wave c of the correction. - The expected price range of wave c has 2 target areas: area 2397 and area 2381, this is the target for the end of wave c. Plan to trade when the price approaches the 2397 or 2381 zone Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later. Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
OANDA:XAUUSDShort
by DEEKOP