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How to correctly plan gold trading opportunitiesExpectations for Federal Reserve policy remain dovish, providing bullish support for gold prices. Weak US non-farm payroll data for July, coupled with a second consecutive week of rising jobless claims, suggests a weakening labor market. According to data released by the US Department of Labor, initial jobless claims rose to 226,000 in the week ending August 2nd, the highest level since early July, reflecting a significant slowdown in employment momentum. Technically, gold continued its upward trend, reaching an intraday high of 3409 before quickly retreating to around 3380, mirroring yesterday's trend. The market remains volatile, with the 3410-3420 range as the key resistance level. Avoid blindly chasing higher prices in the short term. Support is currently in the 3380-3365 range, with a potential dip buy opportunity if it stabilizes.
OANDA:XAUUSDShort
by Trade-Daniel
Gold price forecastGold prices continued to rise as weaker-than-expected labor market data showed that the number of Americans filing new claims for unemployment benefits was higher than economists had expected. The U.S. Labor Department said on Thursday that initial jobless claims rose to a seasonally adjusted 226,000 for the week ended Aug. 2. That was higher than forecasts, with analysts expecting 220,000. The previous week's figure was also revised up to 219,000. Meanwhile, the four-week average of new claims, a more reliable measure of the labor market because it strips out weekly fluctuations, came in at 220,750, below the forecast of 222,000 and compared with the previous week's adjusted average of 221,250. Continuing jobless claims - which reflect the number of people receiving benefits - came in at 1.974 million for the week ended July 26, above forecasts of 1.947 million and the previous week's revised 1.936 million. Weaker-than-expected US labor market developments are adding to gold's upside as investors bet the Federal Reserve will soon shift to a dovish stance to support growth.
OANDA:XAUUSDLong
by FalCol_TradingMaster
Gold Holds Firm. Continues to Set New Highs?After four consecutive days of gains, gold continued its volatile upward trend on Thursday, reaching a new high for August. This performance suggests a relatively strong, volatile upward trend in the short term. The moving average system is currently extending upward, providing some support for the rise. In the short term, focus on the support strength near 3380 on the MA5 moving average, which is a key indicator of the short-term trend. If this support level is broken, continue to monitor support near 3370 and 3365. 3370 marked the low point of Thursday's rapid decline in the European session, while 3365 marked the lowest point reached on Thursday. It is worth noting that gold has maintained an overall volatile upward trend this week, with prices continuously reaching new highs. Therefore, as long as the price remains above yesterday's low, Quaid believes the market will continue to fluctuate upward. On the upside, we need to pay attention to the resistance near 3400-3410. The price has tried to break through many times, but has failed to stabilize above the integer mark of 3400. If it fails to break through strongly, the price will most likely make a correction and try to break through again after accumulating upward momentum. Trading Strategy: Short around 3405, stop loss at 3415, profit range 3380-3365 Long around 3365, stop loss at 3355, profit range 3380-3400
FX:XAUUSD
by quaid_2
GOLD: Bullish Shift ConfirmedBullish BOS, price is trading above 3360. Clean bullish choch formed creating a new HH. Look to buy... (H4) ✅ New HL formed around 3280 and we now have a break above $3355 and $3360 = BOS confirmed. 🟢 Key Zone: 3322–3337 (H1) ✅ BOS above 3360 confirms bullish bias ✅ Key Zone: 3322–3337 (Use this zone to set a limit or watch for confirmation) Retracement expected before continuation. (M15) 👀 What to Watch: If price opens lower and taps into 3330s, monitor for: ✅ Sweep of intraday lows ✅ M15 bullish BOS above 3348–3350 🔁 Entry on retest of new demand zone after BOS ❌ Invalidation: Break and close below 3305 Other Scenario: No Pullback — Buy Breakout Instead If price opens strong and continues up from the 3360s, wait for: ✅ Bullish Break of Structure (BOS) Above: 3385 This is your confirmation level that buyers are still in control
FOREXCOM:XAUUSDLong
by Dynamic-Dani
8/7: Continue to Focus on SellingGood afternoon, everyone! During today’s session, gold successfully moved into the anticipated resistance zone of 3386–3398, and encountered significant selling pressure near 3398, resulting in a retracement to around 3372. While the price action aligned with prior expectations, the delayed timing has led to a bearish shift in the technical structure, which may hinder further upside momentum for the bulls. That said, important economic data will be released during the US session later today. We’ll need to observe whether bulls can leverage the potential catalyst to break through the current resistance levels. ⚠️ Trading Strategy Recommendation: Regardless of the data outcome, it is advisable to maintain a bearish bias in subsequent trades. From a technical standpoint, the higher the price climbs, the greater the probability of a pullback, making short positions relatively less risky. 📌 Reference Range: Continue to monitor and trade within the key zones outlined yesterday, adjusting entries and exits as per intraday developments.
FOREXCOM:XAUUSDShort
by China_MsWang
XAUUSD - 3400Technical picture Bullish momentum is strengthening: US jobs shortage has caused an influx into safe havens, which has contributed to gold's growth A reversal signal is forming: a bounce from the lower line of Bollinger Bands is observed, and a bullish cross of EMA-8 and EMA-21 is also forming, plus a moderately positive MACD - a classic "buy on dip" entry pattern Key levels: Support: around $3,330 - a support zone coinciding with the 21- and 50-day SMAs. Below — potential for decline to $3,297-$3,283 Resistance: $3,380 — resistance, breakout of which could open the way to $3,440-$3,450 Structural pattern: breakout from triangle to the downside could signal a deeper correction Industry consensus: Citi has revised its target range up to $3,300-$3,600 in the next three months, based on a weak US economy and rising geo-risk Meanwhile, HSBC warns of possible weakness — forecast for 2025-2026 from $3,215 to $2,350 in a more bearish scenario
ICMARKETS:XAUUSDLong
by Trade_Hive_Signals
Prices are suppressed. Will they rise amidst volatility?Information Summary: Trump's upcoming appointment of Federal Reserve officials has the market on the sidelines, leading to a pullback in gold prices, but bullish sentiment remains. Quaid believes that most investors are closely watching the White House's upcoming Federal Reserve appointments and any trade-related news, which could have a significant impact on market sentiment. Furthermore, market expectations for a September rate cut are high. After last week's weak jobs report, investors are pricing in an 87% chance of a September rate cut, according to the CME FedWatch tool. Following the release of the report, Trump fired the director of the Bureau of Labor Statistics, further exacerbating policy uncertainty. As a traditional safe-haven asset, gold generally performs better in environments with increased political and economic uncertainty and low interest rates. Market Analysis: Gold prices retreated slightly on Wednesday, but Quaid believes there is still room for further gains, with a short-term target of 3,400. Supporting factors include: continued tariff friction; slowing economic growth and inflation concerns; and a weak US dollar. Looking at the hourly chart, the Fibonacci 0.382 position is right around 3380. Moreover, the top of the trend line of gold's bottoming rebound is also at this position, so if the pressure of 3380 cannot be broken through, we need to be alert to the possibility of a pullback. Next, keep an eye on 3360. If gold can't break through 3380, it may consolidate between 3360 and 3380. If bears continue to push down the price below 3360, a test of 3340 is possible.
FX:XAUUSD
by quaid_2
1
Gold - Intraday Long Setup (5M TF) | Smart Money + Elliott Struc# 🟢 Gold - Intraday Long Setup (5M TF) | Smart Money + Elliott Structure **Pair:** Gold Spot / USD **Timeframe:** 5M **Session:** London / NY Overlap **Type:** Intraday Long Idea **Concepts:** Smart Money, Supply & Demand, Wave Analysis, SSL Confirmation --- ## 🔍 Market Context The market is currently reacting inside a **key Demand Zone** on the 5-minute timeframe, following a strong bearish move during the London session. The structure suggests a corrective **ABC wave formation**, where the **(c) point** appears to be forming a potential higher low at demand. - Point **(a)**: Marked the first impulse down - Point **(b)**: Rejection at minor **Supply Zone** - Point **(c)**: Retest of **POI at Demand**, showing signs of exhaustion in selling pressure --- ## 📈 Technical Confluences - 🟦 **Demand Zone** active and respected - 📏 Potential BOS (Break of Structure) upon break of the recent high - 📊 **Vol %ile** = 83% → Above average participation - ⚠️ Risk Level: High (tight structure, requires confirmation) - 🧭 Entry Distance: Near --- ## 🔧 Indicators Status (SSL Hybrid) | Indicator | Status | |--------------------------|----------| | SSL Channel | ✅ Bullish cross (supporting reversal) | RSI (50) | ✅ Holding above midpoint | MACD | ✅ Bullish crossover (early signal) | BB Oscillator / HT / RQK | ❌ Still bearish (lagging) --- ## 🎯 Trade Idea **Bias:** Long **Trigger:** Break above **minor Supply** and formation of BOS **Target Zones:** 1. **TP1:** 3,370 2. **TP2:** 3,378 (supply edge) 3. **TP3:** 3,385 (upper supply zone) **SL:** Below point (c) @ **~3,357** --- ## 🧠 Notes This setup is valid as long as price holds above the Demand Zone and confirms a bullish shift via BOS. Wait for clear confirmation before entering. _This is an educational idea based on Smart Money + Elliott Wave principles – not financial advice._ --- #gold #smartmoney #supplydemand #elliottwave #sslhybrid #intraday #5mtf #tradingview
OANDA:XAUUSDLong
by mmozafari1357
2
Gold retreats. Is it gathering upward momentum? The 4-hour chart shows a clear market trend. On Tuesday, gold reached a high near 3390, and it's now firmly above the 4-hour trendline. The retracement reached a low near 3350, essentially completing the correction. Therefore, today's upward trend is likely to continue, aiming for new highs. The current resistance level is around 3400-3410. From the 1-hour chart, key support lies between 3370-3360. Quaid believes that today's price must not fall below 3360. If it falls back below 3360, it's likely to retest the low of 3350. However, as long as it remains above support, gold will remain in an upward trend. Upward resistance lies around 3400-3410. Trading strategy: Go long near 3360, stop loss at 3345, profit range 3380-3400. Short near 3390, stop loss at 3410, profit range 3380-3370-3360.
FX:XAUUSDLong
by quaid_2
Gold: Yesterday’s Surge & Today’s Session StrategyDuring yesterday’s U.S. trading session, gold surged to around 3390 🚀, driven by a series of tariff-related remarks from Trump, Fed personnel changes, and market expectations that the probability of a September rate cut has risen to 91% ⚡️. We successfully took profit near 3355 yesterday, locking in close to maximum gains 💰. Today’s trading strategy: Go short at highs during the Asian session 📉 Go long at lows during the European session 📈 Go short at highs again during the U.S. session 📉 ⚡️⚡️⚡️ XAUUSD ⚡️⚡️⚡️ 🚀 Sell@ 3390 - 3380 🚀 TP 3375 - 3366 - 3356 Daily updates bring you precise trading signals 📊 When you hit a snag in trading, these signals stand as your trustworthy compass 🧭 Don’t hesitate to take a look—sincerely hoping they’ll be a huge help to you 🌟 👇
OANDA:XAUUSDShort
by Conqueror-
Gold is waiting to break through near the dense pressure rangeGold (XAU/USD) prices fell slightly during Wednesday's Asian trading session, retreating to around $3,370, snapping a four-day winning streak. Previously, gold prices had hit a nearly two-week high on Tuesday. Gold's recent rally was driven by the Federal Reserve's policy outlook and safe-haven flows, but a recent shift in market sentiment toward optimism and a slight rebound in the US dollar index have put downward pressure on gold prices. Risk assets generally rose, including a rebound in Nasdaq futures, temporarily cooling demand for safe-haven assets. Furthermore, the dollar's slight rebound also put pressure on non-interest-bearing gold. Weak US data heightened economic concerns, supporting expectations of a rate cut this year. Last Friday's weaker-than-expected US non-farm payroll data, coupled with Tuesday's release of the July ISM Services PMI, which fell to a multi-month low of 50.1, have fueled market concerns about the US economic outlook. "Both the weak employment index and new orders suggest weakening momentum in the services sector, further strengthening the likelihood of a September rate cut by the Federal Reserve," analysts noted. The market currently expects the Federal Reserve to implement a 25 basis point interest rate cut at its September policy meeting, with the possibility of a total rate cut exceeding 50 basis points this year. While this expectation has dampened dollar bullish sentiment and provided support for gold, the optimistic stock market sentiment has weakened gold's appeal as a safe-haven asset. In trade-related news, the US President announced a new round of tariffs on imported semiconductors and pharmaceuticals, accelerating the pace of tariffs on areas such as automobiles, steel, and aluminum. This move has heightened market concerns about global supply chain risks, maintaining cautious investor sentiment and potentially providing safe-haven support for gold in the medium term. From a technical perspective, gold prices encountered clear resistance before reaching the $3,400 mark and failed to break through, shifting into a short-term consolidation pattern. The 4-hour chart shows that gold found support at the 100-period simple moving average (around $3,350) and rebounded, indicating that bulls are still trying to maintain the initiative. "Currently, hourly and daily oscillators remain positive, but if gold fails to hold above $3,400, it is likely to remain volatile in the short term," market participants noted. Upward resistance lies at the key resistance zones of $3,400 and $3,430, respectively. A break above this would open an upward trend, targeting the all-time high of $3,500 reached in April. Initial support lies at $3,350. A break below this would target the intermediate support of $3,322 and the $3,300 mark. A further break below this level could test the one-month low of $3,268. Although gold prices are currently under short-term pressure, they remain supported in the medium term amidst a slowing US economy, rising expectations of interest rate cuts, and ongoing potential trade frictions. In the short term, the price is expected to fluctuate around the $3,400 level. Focus on speeches by Federal Reserve officials and next week's US CPI data, which may provide new direction for gold. OANDA:XAUUSD VELOCITY:GOLD EIGHTCAP:XAUUSD CMCMARKETS:GOLD PYTH:XAUUSD ACTIVTRADES:GOLD FX:XAUUSD
OANDA:XAUUSD
by Charlie_Senior_Analyst
Gold is strong. Is a round number nearing its high?Information Summary: On Tuesday, Trump made a splash. He announced four nominees for the next Federal Reserve Chair, removing Treasury Secretary Bensont from the list. He also announced tariffs on semiconductors and pharmaceuticals next week, warned of increasing tariffs on Indian goods "within the next 24 hours," and threatened to impose a 35% tariff on the EU if it failed to fulfill its obligations. As a result, gold rose nearly $30 from its intraday low of $3,350, briefly breaking above $3,380. Market Analysis: Gold has been trending upwards since the start of the week, with four consecutive daily gains, indicating a gradual buildup of bullish momentum. Judging from the 1-hour moving average indicator, the MA5 and 10 moving averages are currently turning downward, while the 20 and 30 moving averages are moving flat, which indicates that the overall short-term market trend is waiting for a price correction. Quaid believes investors should wait for the price correction to complete before entering a long position. The key short-term trend is Tuesday's low of 3350. If gold prices hold above this level, we should maintain a positive outlook in the short term. The first resistance level above is near Tuesday’s high of 3390; the second focus is on the 3400 integer mark. Trading strategy: Short around 3395, stop loss at 3405, profit range 3370-3350 Long around 3350-3360, stop loss at 3340, profit range 3370-3390.
FX:XAUUSD
by quaid_2
Gold continues its upward trend. A strong week ahead?Gold's technical outlook on the daily chart maintains a bullish structure, with prices trading within the upper middle Bollinger Bands. The 7-day and 10-day moving averages have formed a golden cross, and the RSI indicator is trading above its mid-axis. The short-term 1-hour chart shows prices trading within the upper middle Bollinger Bands, with the moving averages forming a golden cross and the RSI indicator pointing upwards. Quaid believes that the trading strategy for Wednesday remains unchanged, with the main focus on low-level long positions during pullbacks, supplemented by high-level short positions. Gold initially fell before rising on Tuesday, breaking through the intraday high and touching the 3390 level. It closed with a doji with upper and lower shadows. The current bullish trend remains intact, with the moving averages in a bullish formation. However, the 4-hour chart is approaching the acceleration line, creating downward pressure. This suggests a short-term bullish risk zone, and it is advisable to avoid buying at high levels. The hourly chart showed a sideways trend, closing below the upper line. While it hasn't broken below the moving average, the indicator has turned. Therefore, based on the overall market trend today, Quaid believes there's a high probability of further upward movement after a correction. Trading Strategy: Long at 3355-3360, stop loss at 3345, profit range 3380-3400; Short at 3390-3395, stop loss at 3405, profit range 3360-3350; Key Points: First Support Level: 3370, Second Support Level: 3360, Third Support Level: 3350 First Resistance Level: 3390, Second Resistance Level: 3400, Third Resistance Level: 3410
FX:XAUUSDLong
by quaid_2
8/6: Watch for a Potential Double Top FormationGood morning, everyone! Yesterday, gold experienced its first significant supply pressure around the 3386 level, but with support near 3350—helped by positive data—prices rebounded and climbed back toward 3390, resulting in solid overall gains. From the 1-day chart (1D) perspective, the technical structure remains bullish, with MA20 providing firm support. Although short-term moving averages are currently converging, the overall bias remains towards a bullish divergence, suggesting further upside potential. There's a possibility for price to test the 3400–3420 zone in today’s session. That said, the 3386–3398 region may still pose minor selling pressure, although it is not expected to be particularly strong. Key intraday support is seen in the 3378/3372–3362 range. If the market encounters another wave of heavy selling that damages the daily bullish setup, then the 3343–3348 area will become a critical battleground between bulls and bears. 📌 Trading Strategy for Today: Maintain a sell-on-strength approach, especially if prices approach the 3418–3438 resistance area, where short opportunities become more attractive; If a pullback occurs, monitor the aforementioned support zones for potential buy-on-dip opportunities, contingent on stability. ⚠️ Market Risk Reminder: There will be key economic speeches during the US session, which could trigger heightened volatility. Ensure proper risk management and stop-loss settings are in place.
FOREXCOM:XAUUSDShort
by China_MsWang
XAUUSD The beginning of large-scale growthCurrent picture and structure The instrument is trading in a narrow range of $3,360-3,375, demonstrating low volatility - ADX is at the low of 2025, which confirms consolidation The price is held inside a long-term ascending channel, with an increase of about 27% since the beginning of 2024 Indicators and signals RSI (14): around 58-59, indicates moderate overbought, but remains in the bullish momentum zone Stochastic (%K ~61%) and MACD (value ~3.8): Buy signals - short-term upward momentum is confirmed ADX (14): around 23-24 - range, weak trend without a clear direction Moving averages on different timeframes give a common signal indicator "Strong Buy" in daily and weekly frames Support and resistance levels Key support: $3,360 — current lower stop range $3,330–3,293 — swing low zone, critical for short-term sales Main resistance: $3,400–3,415 — profit acceptance zone and possible reversal pressure $3,450 — psychological and technical barrier upon breakout of current zone
ICMARKETS:XAUUSDLong
by Trade_Hive_Signals
Gold rebounded near the key support level of $3,350.Spot gold edged higher during the US trading session after finding strong support near $3,350, reversing an earlier pullback. During the European trading session, gold prices briefly dipped due to improved risk appetite and a slight rise in US Treasury yields, failing to extend Monday's rebound. However, buyers stepped in near the 50-day simple moving average (SMA), pushing prices back from the day's low. The continued weakness of the US dollar, fueled by market confidence in a September Federal Reserve rate cut, supported gold's rebound. Spot gold struggled to extend last week's rebound and is currently hovering around $3,350. Last week, gold broke below an ascending triangle pattern, briefly hitting a one-month low, before finding support above the 100-day simple moving average (SMA), suggesting continued bearishness. Currently, gold is trading slightly above the 50-day SMA, providing immediate support, followed by the 100-day SMA. Further declines could lead to targets near $3,275 and $3,200. The Relative Strength Index (RSI) on the daily chart is in neutral territory around 55, indicating a lack of clear momentum. Meanwhile, the MACD indicator shows a golden cross with the DIFF crossing the DEA, and the MACD-histogram is positive, indicating accumulating bullish momentum. However, the overall reading is low, and further upward momentum is needed. A sustained golden cross and a larger candlestick pattern would be bullish. On the upside, if bulls can reclaim the bottom of the broken triangle and decisively push above $3,380, the market could potentially move towards $3,450, or even revisit the all-time high. PEPPERSTONE:XAUUSD VELOCITY:GOLD FXOPEN:XAUUSD CMCMARKETS:GOLD VANTAGE:XAUUSD ACTIVTRADES:GOLD ACTIVTRADES:GOLD ICMARKETS:XAUUSD
OANDA:XAUUSD
by Charlie_Senior_Analyst
Gold has bottomed out and rebounded. Where will the high point bGold has currently hit a low near 3350, rebounding from the bottom and now rising to around 3390. Looking at the 1-hour chart: The most critical upward level is currently around 3390. If the price breaks through this level and stabilizes above it, the late July high of 3430 could be revisited. Conversely, if it remains below 3390, the overall range will remain between 3350 and 3390. Secondly, looking at the 4-hour chart, we can see that the trend line resistance level is also currently around 3390. If the price stabilizes above 3390, the upper 4-hour chart could directly reach the 3400-3410 range. If the price holds above 3410 again, the next target would be around 3450.
FX:XAUUSD
by quaid_2
GOLD RAID ON – Bullish Limit Orders Are LIVE! XAU/USD💰GOLD HEIST IN PROGRESS! XAU/USD BULLISH RAID BEGINS! 🏴‍☠️📈 Asset: XAU/USD – Gold vs U.S Dollar 📊 Plan: BULLISH ROBBERY 🎯 Target: 3460.00 🛑 Stop Loss: 3330.00 📥 Entry: ANY level – vault is wide open! 👑 THIEF MODE ACTIVATED – Time to raid GOLD like a pro. We’re stacking multiple limit orders (layering entries) just like setting traps for those greedy bears 🐻💥 🚪💼 Entry strategy: “The vault is unlocked – grab your bag and go!” Place buy limits at recent swing lows (15m/30m) or jump in live with your bullish crew. Use alerts to catch price at key pullback zones. 🛑 SL placed at: 3330 – Just below thief territory. Adjust based on your lot size + number of entries 🔐 🎯 Target: 3460 – Hit and run, or trail that SL and let the gold rain! ☔💸 🧠 Thief Tactics for GOLD: Only trade Long-side – scalpers, swing traders, all aboard 🚂 Use trailing SL to protect your loot Avoid trading during high-impact news (CPI, NFP, Fed, etc) ⚠️ Stay alert for manipulations + fake-outs at key levels – it's a trap game out here 🎭 📰 Before the Heist: 🧾 Read Fundamentals • COT Report • Sentiment • Macro Outlook 📌 Always stay updated, news can flip the market faster than a backstab 🗡️ 🗣️ Boost this idea if you’re robbing with us! 💥 Smash that LIKE if you believe in the heist 🚨 Follow for more high-voltage thief trades 💎 Daily playbooks. Clean getaways. All signals, no noise. Join the crew. Trade like a THIEF. Get rich or get smarter. 🕵️‍♂️💰🚀🔥🐱‍👤📈
FX:XAUUSDLong
by The-Thief
Gold crash (SHORT) - head and shouldersGold is at an interesting crossroad. It broke through its diagonal support on Friday the 25th of July. Price is retesting previous support. Does it turn into resistance? Further confluence is a head and shoulders of the H8 and H12, with the right shoulder coinciding with the retest of the diagonal. Since I am long gold with my investments, I am hesitant to short gold through my trading business. However, if my pattern is available, I take the trade. This will be a very short term trade - a few days at most if the trade goes in my favour. Risk/reward = 12.6 Entry price = 3382.5 Stop loss price = 3396.2 Take profit level 1 (50%) = 3230 Take profit level 2 (50%) = 3181 The risk reward is exceptionally high. However, I have taken a more conservative approach with my entry because of my apprehension to short gold. For this trade I will enter at the extreme end of the range in which I will look for entries. This is the reason for such a high RR. It might result in me missing an entry.
PEPPERSTONE:XAUUSDShort
by GTradingMethod
1
Wait for a pullback and then test the previous high#XAUUSD The gold market closed positively on the daily chart, with strong support near 3345-3340 below. The market trend is still dominated by bulls,🐂 but the daily moving average support is too far from the high point. It is not ruled out that it may retreat to the moving average support near 3345-3340,📊 and then rise again.🚀 From the monthly chart, 🌙although the monthly chart closed positive, the market is generally converging at a high level. Upper resistance remains, and a breakout is unlikely without breaking through this resistance level (no further discussion will be given).📉 Judging from the weekly chart, the Bollinger Bands have shrunk, and the MACD indicator has formed a death cross with large volume, indicating weak fluctuations at the weekly level.😩 Judging from the daily chart, 📊the current technical indicators are tending to the zero axis, and the rapid upward correction of the smart indicator indicates that the price fluctuation tends to rebound. The current focus is on yesterday's high around 3385. It is expected to break through 3430. The lower support Bollinger band middle track and moving average tend to stick together around 3346-3340.🌈 Judging from the hourly chart and 4H chart, 📊the overall rhythm tends to fluctuate and fall. The short-term pressure from above is around 3375-3385, and a break above will definitely lead to an increase.📈 On the whole, pay attention to yesterday's NY starting point near 3365-3360, and the strong support below is 3346-3340. The hourly and 4H charts tend to fluctuate and fall, so for short-term trading we need to short on rallies. 📉 Intraday trading suggestions are as follows: 1. Consider going long currently around 3365-3360📈, targeting 3374-3380🎯. If it breaks through, look for 3400. 2. Go long if it retraces below 3355-3340, targeting 3375-3385. Wait for further adjustments.🐂 3. If the price first reaches the resistance level of 3375-3385 and holds, consider going short with a small position and anticipate a pullback towards 3365-3355.🐻
OANDA:XAUUSDLong
by Halson_Winston
4
GOLD (XAU) SHORT - Double top 30minRisk/reward = 2.8 Entry price = 3382.5 Stop loss price = 3390.5 Take profit level 1 (50%) = 3361.7 Take profit level 2 (50%) = 3356 I am considering a short on gold. Still need some variables to fall into place before I enter the trade. There is nice RSI negative divergence showing declining momentum. Further confluence: - Potential head and shoulders on higher time frame - At area of previous diagonal support which could be turned into resistance if the 30min double top plays out
PEPPERSTONE:XAUUSDShort
by GTradingMethod