XAUUSD One last bearish leg left. 1D MA100 calling.Two weeks ago (June 18, see chart below) we made a comparison on Gold's (XAUUSD) 1D chart with the Channel Down of January - February, calling for a final Low on the 1D MA100:
It appears that we are about to complete the final stage of this Bearish Leg (D), and within 5 trading days, make that 1D MA100 contact. However due to the less aggressive nature of the current Leg, we update our Target from 2260 to 2270.
The cyclical sequence of the 4H RSI however, indicates that we may be forming a bottom sideways, using the 4H MA50 (blue trend-line) as a pivot, so if instead the price closes above the top (Lower Highs trend-line) of the Channel Down and enters the upper region of the Rectangle, we will invalidate our 1D MA100 bias.
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Xauusdsignals
GOLD (XAUUSD): Detailed Structure Analysis
Here is my latest structure analysis
and important supports & resistances for next week.
Horizontal Structures
Support 1: 2277 - 2298 area
Resistance 1: 2360 - 2368 area
Resistance 2: 2375 - 2387 area
Resistance 3: 2426 - 2450 area
Vertical Structures
Vertical Resistance 1: Rising trend line
Consider these structures for pullback/breakout trading.
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Gold is Ready to Fall Again!!!After failing to break the Descending Channel , Gold started to fall again and managed to break the Support zone($2,338-$2,318) and Support line .
According to Elliott's wave theory , Gold seems to be on its way to completing five more bearish waves .
I expect Gold to fall at least to the next Support zone($2,288-$2,250) .
Gold Analyze ( XAUUSD ), 4-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.
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GOLD (XAUUSD): Intraday Bullish Confirmation?!
Analyzing the intraday price action on Gold this morning,
I spotted an ascending triangle formation with a confirmed
bullish breakout of its neckline.
It is an important local sign of strength of the buyers.
It occurred after a test of a daily trend line that we discussed earlier.
I think that the growth may continue today.
Goal - 2343
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GOLD (XAUUSD): Support & Resistance Analysis For Next Week
Here is my latest structure analysis for Gold.
Vertical Structures
Vertical Support 1: Rising Trend Line
Horizontal Structures
Support 1: 2277 - 2303 area
Resistance 1: 2360 - 2368 area
Resistance 2: 2378 - 2388 area
Resistance 3: 2426 - 2450 area
Consider these structures for pullback/breakout trading next week.
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GOLD ROUTE MAP & TRADING PLAN UPDATEHey Everyone,
What a chart blowing week we had with our 1H chart idea playing out to true perfection. This chart idea was shared on Sunday for this week and delivered the goods.
We started the week with our retracement range challenged. No lock below the retracement range gave us the bounce clearing 2332 target. This followed with a cross and lock confirmation opening 2343 and 2349. 2343 and 2349 both were hit completing our next set of Bullish targets. We were then left with 2349 lock opening the last target of the range at 2367 precision TP.
- This target was hit today completing the week with a FULL HOUSE!!!!! for a perfect finish before the big sell off- BOOOOOM!!!
EMA5 CROSS AND LOCK ABOVE 2322 WILL OPEN THE FOLLOWING BULLISH TARGET
2343 - DONE
2349 - DONE
EMA5 CROSS AND LOCK ABOVE 2349 WILL OPEN THE FOLLOWING BULLISH TARGET
2367 - DONE
BEARISH TARGETS
2322 - DONE
EMA5 CROSS AND LOCK BELOW 2322 WILL OPEN THE FOLLOWING BEARISH TARGET
2312 - DONE
As always, we will now come back Sunday with our multi time frame analysis, Gold route map and trading plans for the coming week. Please don't forget to like, comment and follow to support us, we really appreciate it!
Have a smashing weekend all!!
Mr Gold
GoldViewFX
XAUUSD H2 - Long SignalXAUUSD H2
Here is XAUUSD update on the H2, we were previously targeting 2325/oz and then 2335/oz. With further targets pushing towards that 2350/oz price. We are looking at pulling towards the previous area of resistance, which we now anticipate to act as support, priced 2320/oz.
Targets remain at around 2350/oz and then 2360/oz subsequently. Not much in the way of economic data today, so lets see what unfolds. Might be a slow burner of a day
XAUUSD Channel Down leading to inevitable 1D MA100 test.Gold (XAUUSD) is failing to break above the 1D MA50 (blue trend-line) on successive tests and as long as it remains below it, the trend will be bearish. In fact the dominant pattern is a Channel Down and the last time we had such a formation was from December 28 2023 to February 14 2024.
It was on that day (Feb 14) that the price bottomed exactly on the 1D MA100 (green trend-line) and initiated the incredible rally of March - April. As you can see, the two Channel Down patterns share similar characteristics. Both sequences experienced identical phases and the current one appears to be finishing phase (C) and on the next top test of the Channel Down, start phase (D), which should be the final and the one to deliver the 1D MA100 test.
We expect that to be around 2260. Notice also how the 1D RSI sequences between the two fractals are also similar, in fact even more than the price action as the RSI filters out the more aggressive nature of the current price action.
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XAUUSD H1 - Long SignalXAUUSD H1
We bounced nicely yesterday from this indicated buy zone, offering as much as 3.5R. We have since come back down to this area of support. We could see some potential re-entries from this zone, with targets of 2325/oz, 2335/oz and then 2350/oz.
If support doesn't manage to hold this time round, we could expect to see the more major support price of 2285 see a test.
GOLD (XAUUSD): Your Trading Plan For Next Week Explained
This Friday, Gold turned very bullish and reached a strong daily resistance.
The underlined red resistance is the upper boundary of a narrow horizontal trading range on a daily.
Next week, look for a breakout of the resistance of the range.
A daily candle close above 2342 will be our strong bullish confirmation.
A bullish continuation will most likely follow then.
Next resistance will be 2736
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GOLD (XAUUSD): Main Focus is ...
As I predicted yesterday, we got a nice intraday bearish movement on Gold.
Analyzing the price action on a daily time frame today,
I spotted that the market is currently consolidating.
We can see a narrow horizontal trading range.
Those who are looking to buy the market should wait for a breakout
of the resistance of the range.
A daily candle close above 2342 will be our strong bullish confirmation.
A bullish continuation will most likely follow then.
Next resistance will be 2736
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GOLD (XAUUSD): Classic Bearish Pattern
I spotted a strong bearish pattern on Gold on an hourly time frame.
After a strong bearish rally that initiated on Friday last week,
the market started a correctional movement within a rising channel - a bearish flag pattern.
A breakout of the support of the flag is a reliable bearish signal.
Probabilities are high that Gold will drop at least to 2295
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