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XAUUSD: NFP data is coming, how to make a trading plan?Yesterday's ADP data showed an increase of 99,000 jobs, the lowest since January 2021, significantly lower than the expected 145,000 and the previous value of 122,000. This provided a significant positive for gold. Fortunately, the subsequent initial jobless claims and two PMI data were negative, which suppressed the rise of gold and prevented the expectation of a consistent recession in all economic data. It is precisely because of this that the price of gold fell to our buying range of 2500-2505 and then rose again, giving us the opportunity to buy at 2505 and take profits at 2516. There are less than two weeks before the Fed's September rate cut, whether it is a 25 basis point or 50 basis point cut. Today's NFP data will play a decisive role. Everyone must pay attention to it. The fluctuation may be very large at that time. Everyone knows the importance of the monthly NFP data, and I don't need to explain too much. Therefore, today's technical reference is not as significant as the data. Everything has to wait for the results of the data release, so it is difficult to judge. Given the uncertainty in today's market, I can't give you a specific trading strategy in advance, because it needs to be adjusted according to the actual market conditions. But I prefer to wait for a pullback and buy bullish, or make a trading plan based on the data performance after the data is released. I hope the above strategy is useful to everyone. In fact, you can be more cautious and give up today's trading, or make a trading plan based on the specific market trend after the data is released.
TVC:GOLDLong
by AntonyTP
21
Go long gold!Today's NFP market is the highlight, and gold's performance in NFP is exactly in line with my expectations. First, I explained that I am optimistic about gold's rebound after the decline in the NFP market, and focus on the 2516-2512 support area and the 2505-2500 area. Before the release of the NFP data, gold just fell back to around 2512, and then rose to around 2518; after the release of the NFP data, gold instantly fell back to around 2508, and then rose sharply to around 2528. Basically, it meets my expectations that gold will fall back first and then rise. At present, gold has fallen back to the 2505-2500 area again, and the current lowest point has reached around 2503, retesting yesterday's rebound area of ​​2504. If the test support is effective, gold will rebound again. I expect gold to rebound to at least the 2515-2520 area. So I have decisively chosen to go long on gold. I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
OANDA:XAUUSDLong
by alongwineer
XAU ! NF ! decision for the market to fall sharplyXAU / USD trend forecast September 6, 2024 The ADP National Employment Report released Thursday showed that US private-sector jobs increased by 99,000 in August, the smallest rise since January 2021, missing the forecast of 145,000. July’s figure was also revised down to 111,000 from 122,000. Additionally, job openings fell to 7.673 million in July, a three-and-a-half-year low, indicating a weakening labor market. Sideway below 2500 is a good signal for Gold in the near future, waiting for interest rate cut in September 2024 Based on H4, resistance and EMA 200 line to set up SELL signal /// SELL XAU : zone 2528-2531 SL: 2536 TP: 50 - 150 - 300 pips (2501) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
6
SL Triggered, NFP Incoming: Will Gold Push to New Highs?Yesterday, I took a stop loss, which is, of course, a normal part of trading. What’s ironic, though, is that overall, I’m bullish on Gold. Even more ironic is the fact that in my Monday analysis, I mentioned that Gold would likely test the 2480 zone before continuing its upward trend. I even spotted the 'double Pin Bar formation' at the bottom, yet I remained short. Ultimately, my ego and the desire 'to be right'—thinking Gold would dip to the 2450 zone before reversing—got the best of me. Anyway, let’s move on to today’s analysis... As I mentioned earlier, after Gold fell into the significant support area around 2480 on Tuesday, the price bounced back to the upside. The following day, despite another wave of selling pressure, the price reversed again, leaving behind a 'Double Pin Bar' formation on the chart. Yesterday, the price broke above the 2505-2507 zone, which also confirmed a short-term double bottom formation. At the time of this article’s publication, the price stands at 2518, and the entire structure we’ve discussed is highly bullish. Looking ahead, as long as the 2505 level holds, the chances for a new all-time high are very strong. The measured target, should 2530 be breached, is 2590. Currently, I’m 'out of the market,' awaiting the NFP data for further clarification. I will update my analysis accordingly once the data is released.
OANDA:XAUUSD
by Mihai_Iacob
XAUUSD: The most likely time to set a new high is comingIn yesterday's article, we pointed out the importance of the support area of ​​2470-2480, and the trend of this decline is almost the same as that in August, so we bought bullish in this range, and the result was very good. Judging from the strength of the last rebound, the highest gold price tried to break through 2532. Similarly, I am optimistic that gold will test new highs again this time. In addition, there are many important economic data released today, and there will be a monthly NFP tomorrow. Once the data is good for gold, this time is most likely to refresh the historical high. From the 1H chart, we can see that yesterday's strong rebound has broken the downward trend, and today's Asian and European sessions have broken through the key resistance of 2500-2505 again. Now this range has turned from resistance to support. Trading strategy: Although we are very optimistic about gold today, we still cannot take the risk of chasing the rise, because once the gold price falls back to the support, there is a room for a decline of 10-15$. Therefore, today we'd better wait for the gold price to pull back to the 2500-2505 support area before buying. The target can be seen at 2520-2530, and after a new high, it can be seen at 2550.
TVC:GOLDLong
by AntonyTP
XAU decreased! PMI ! Important data today⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices edged higher during the Asian session on Thursday, building on their rebound from near two-week lows around $2,472. A US labor market report on Wednesday showed job openings dropping to a three-and-a-half-year low, fueling speculation of a larger Fed rate cut in September, which supports the non-yielding metal. Concerns about the US economy also drive investors toward safe-haven assets like gold. However, strong buying momentum is lacking as traders remain cautious ahead of Friday’s key Nonfarm Payrolls (NFP) report. Thursday’s ADP employment report, Weekly Jobless Claims, and ISM Services PMI may offer short-term opportunities, but expectations for upcoming Fed rate cuts continue to support gold prices. ⭐️ Personal comments NOVA: The financial market was shaken by the news that the FED lowered interest rates in September, fearing an economic recession. Gold also found it difficult to avoid the general sentiment, continuing to reduce and adjust more strongly. ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2472 - $2470 SL $2467 scalping TP1: $2478 TP2: $2483 TP3: $2490 🔥BUY GOLD zone: $2451 - $2453 SL $2446 TP1: $2460 TP2: $2470 TP3: $2480 🔥SELL GOLD zone: $2506 - $2508 SL $2513 TP1: $2495 TP2: $2480 TP3: $2460 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
7
XAU/USD : Another Fall Ahead ? (READ THE CAPTION)By analyzing the #Gold chart on the 4-hour timeframe, we can see that after last night’s analysis, gold rose again to $2497 before experiencing a sharp decline down to $2471. After reaching this critical level, the price didn’t penetrate the liquidity pool below $2471 and instead rebounded to $2491 to fill the liquidity gap caused by the previous drop. As you can see on the chart, the initial reaction to this level has been negative, and we need to see if gold can stabilize below $2491 with the upcoming market news. If it does, we can expect further declines towards lower targets. The potential targets are $2481, $2471.7, and $2460.5, respectively. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
OANDA:XAUUSDShort
by ArmanShabanTrading
13
Gold- Stuck in a newly established range. Will support give awayYesterday, Gold once again touched the critical support zone between 2470-2475, and, as before, bulls managed to defend it, causing a price rebound. While at first glance this support appears solid, I believe it will eventually give way, with the price likely dropping to at least 2450. Of course, I could be wrong, which is why I’ve set my invalidation level in the 2515-2520 zone. My swing trade strategy remains unchanged: sell into rallies.
OANDA:XAUUSDShort
by Mihai_Iacob
8
XAUUSD: The recent low has been confirmed, buy boldlyYesterday, the price of gold bottomed out and rebounded after falling to 2473. Now the price of gold has come here again. I think the low point of this decline is likely to be here. From the 4H chart, we can see that the range of 2470-2480 is the key resistance level that has not been broken in the previous many attacks. After breaking, it has turned into support. At the same time, during the correction last month, it also played a key supporting role, and its support strength has been verified yesterday and just now. In addition, the important data ADP and NFP data this week will not be released until the next two days, so it is unlikely to fall below this key support level before the data. Trading strategy: Since we have determined the short-term low, the choice for us is very clear. Buy in the range of 2470-2480. The first target is 2500-2505, and the second is 2520-2530. I have bought at 2480 and added positions at 2475. Now I can wait for the rise with peace of mind.
OANDA:XAUUSDLong
by AntonyTP
4
Long USOIL, short XAUUSD It's Thursday, and today is expected to be a highly volatile day in the markets. OIL has the EIA data release, while gold will be affected by the ADP employment report and initial jobless claims data, both of which will likely have a significant impact on price movements. Based on the already released API data, the upcoming EIA data is highly likely to be bullish for OIL. Therefore, the primary trading strategy today should focus on buying on dips. As I previously pointed out, both candlestick patterns and other indicators show clear signs of a bottom formation in oil prices. So, barring any unexpected events, today should be a day of gains. As for gold, with two important data releases today, I expect one to be bullish and the other bearish, primarily setting the stage for Friday’s NFP report. Therefore, today's trading range is expected to widen, with resistance around the 2506-2514 zone and support in the 2468-2452 region. From an overall perspective, short positions at higher levels offer better risk/reward potential. Hence, today's strategy should be to short first, then look for long opportunities on a pullback, and once the market rebounds, resume short positions after the upward move.
OANDA:XAUUSD
by Mia-Signal
Gold may directly point to the 2465-2455 areaToday I made more gold near 2480 and around 2474, and then lock the profit at the nearby position near 2484. In fact, I have explained very clearly about the trading strategy in the short term. Because gold faces the resistance of 2486-2488 in the short-term, this is why I chose to close our bulls in 2484 in advance. And the shorts are relatively obvious at present, and we do more gold just to do the game gold will not fall below the support area near 2470. In addition, many people should have a plan to wait for the gold to rebound to short gold in the 2486-2490 area. Therefore, in order to lock the profit in time, I must choose to make a profit near 2484. At present, the golden short mood is strong. We first observe the performance of gold in the 2486-2490 area. If gold touches the area fall, then we can observe the support of the 2475-2470 region again, and consider making more gold with the support of the area; if the gold breaks through the area in the short term , or even the possibility of continuing to rebound to the 2505 area, then there is no doubt that we can take short gold again! The operation may be less profitable, but it is undoubtedly a safer operation strategy. Once the gold rebounds to the 2505 area, there is no doubt that the gold is short. If the gold falls and falls below the 2470 region, the gold will directly fall to the 2465-2455 area, pointing directly to our stage goals! I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
OANDA:XAUUSDShort
by alongwineer
Gold price tends to decrease - sellers try to prevail⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices rebounded from multi-day lows on Wednesday but stayed under the $2,500 mark as the US Dollar gained strength. Despite this, ongoing geopolitical tensions and expected Fed rate cuts could support gold in the near term. Later in the day, the release of JOLTS Job Openings and the Fed's Beige Book will be closely watched. Investors are eagerly awaiting Friday's US August Nonfarm Payrolls report, which could influence the Fed's rate decisions in September. A weaker-than-expected report might heighten recession fears and prompt faster rate cuts, potentially boosting gold further as lower rates make it more attractive. ⭐️ Personal comments NOVA: Gold broke 2500, fell back to 2470 after yesterday's PMI news, moving in the short-term H1 downtrend. ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2462 - $2460 SL $2455 TP1: $2470 TP2: $2480 TP3: $2490 🔥SELL GOLD zone: $2505 - $2507 SL $2510 scalping TP1: $2500 TP2: $2495 TP3: $2490 🔥SELL GOLD zone: $2513 - $2515 SL $2520 TP1: $2500 TP2: $2485 TP3: $2470 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
2
Bulls Held Their Ground, But Will the Ground Hold Them?In the past two days, I've emphasized the importance of the 2480 support zone, suggesting that the price was likely to test this level before potentially reversing. This prediction played out as expected, with XAU/USD indeed dropping to that specific zone. However, my bullish outlook has shifted, and here’s why: Failure to Break 2500: Most importantly, yesterday the price attempted twice to stay above the 2500 level but failed both times. The second attempt was met with aggressive selling, and that time support zone was hit. Signs of Distribution: Over the past three weeks, price action has been sluggish, resembling a distribution phase rather than accumulation. The lack of momentum in making a new all-time high is concerning. On the daily chart, while there is a Pin Bar that typically signals a reversal, it's of poor quality—featuring a red body and a large upper shadow ("nose"). In conclusion, I am now looking to sell above 2500, but I plan to keep a tight stop. Best of Luck! Mihai Iacob
OANDA:XAUUSDShort
by Mihai_Iacob
9
Gold Analysis==>>Triple Top PatternGold could NOT make a new All-Time High (ATH) on the third attempt and started to fall again, forming a triple-top pattern . Also, Regular Divergence (RD-) between Three Tops . I expect Gold to break down to at least the Support line . Note: My previous post about gold is still valid, and my stop loss (SL) was $2,530😎. Gold Analyze ( XAUUSD ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDShort
by pejman_zwin
2
Gold Analysis==>>Adam & Adam Double Top PatternGold failed to form a new All-Time High (ATH) at the beginning of the week. Gold has successfully formed the Adam & Adam Double Top Pattern in the Potential Reversal Zone (PRZ)($2,539-$2,515) and breaking the Support lines . Credit terms of Adam & Adam Double Top Pattern: 🔸The Adam & Adam Double Top Pattern has the most credibility among the Double Top Patterns after the Eve & Eve Double Top Pattern . 🔸 Regular Divergence(RD-) between two Tops. 🔸The slope of the second top is higher than the slope of the first top towards the Neckline . I expect Gold to decline to at least the target of the double top pattern and attack the lower support line . Gold Analyze ( XAUUSD ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDShort
by pejman_zwin
3
XAUUSD: 3/9 Today's Market Analysis and StrategyGold technical analysis Daily resistance 2550, support below 2450 Four-hour resistance 2501, support below 2490 Gold operation suggestions: Yesterday, gold fell rapidly downward in the Asian session, pierced the 2500 mark and quickly rebounded near the 2490 mark, and fell into a shock consolidation. In the European session, it once rebounded upward and pierced the 2507 mark, suppressed and fell into a sideways shock. Because the NY market was closed yesterday, it ran in a narrow range. The overall price showed a shock consolidation below the 2515 mark. Gold still has a multiple top structure in 4 hours. The moving average resistance has now moved down to the line near 2507. Gold rebounded below 2507 and continued to be short at highs. Gold shorts have not ended yet. Gold rebounds are opportunities for shorts. Gold is now building a top structure. Once formed, the decline of gold has just begun. From the 4-hour analysis, today's upper resistance focuses on the opening of yesterday's decline at 2507-12. The intraday rebound relies on this position to continue to fall back. The lower target continues to look at a new low. The short-term gold price long and short strength watershed focuses on the 2515 mark. Before the daily level breaks through and stands on this position, maintain a short-selling strategy. BUY:2490near SL:2486 SELL:2508near SL:2511 SELL:2525near SL:2529 The strategy only provides trading directions. Since it is not a real-time trading guide, please use a small SL to test the signal.
OANDA:XAUUSDShort
by ActuaryJ
XAUUSD: Sell at 2505-2510 resistance zone, target 2490-2480Yesterday was Labor Day in the United States. The amplitude of gold was very small and we did not participate in any transactions. Today the market is back on track and it is time to open our transactions! Gold fundamentals: Tensions in the Middle East have escalated again, and risk aversion has rekindled. Due to the recent positive economic data, the U.S. dollar index continues to rebound, and the ISM manufacturing PMI for August to be released today is expected to rise slightly to 47.5 from 46.8 in July, indicating that the manufacturing industry is recovering moderately, which will continue to support the U.S. dollar. rebound, gold falls. In addition, the market expects that the United States will create 163,000 new jobs in August and the unemployment rate is also expected to rise to 4.2%. This reflects strong economic fundamentals and further boosts the dollar. Gold technical aspect: Judging from the Fibonacci retracement of the decline between the highest point of 2528 and the lowest point of 2490, 2505 is 0.618 and 2510 is 0.5, so this range is the resistance to gold's rebound. Trading strategy: Since the direction is clear now and 2505-2510 is the resistance area, we can sell in this range.
OANDA:XAUUSDShort
by AntonyTP