XAUUSD Is it starting the new cyclical Mega Rally?Gold (XAUUSD) broke the previous All Time High (ATH) yesterday as expectations over a June rate cut intensified. In order to determine our short-term strategies on Gold we often tend to look at the long-term time-frames for trend recognition.
This time we look at the 1W chart and in particular how Gold's previous Cycle compares to today. We could look at those from a 1M (monthly) standpoint but we are particularly interested in making a case of the 1W RSI as it plays a critical role here.
As you can see Gold's previous Cycle from 2013 - 2020 is so far highly similar and symmetrical with the recent Cycle of 2020 - 2024. The current ATH break is slightly diverging from the September 04 2017 High as Gold didn't make an ATH then but so did the December 04 2023 High, which was priced purely on fundamentals (geopolitical unrest).
You can clearly see the RSI's key role here as despite Gold's new ATH, the RSI has only entered its 4-year Resistance Zone. On those terms, it is no different than the September 04 2017 High. As a result, if we don't see a considerable extension of the current rally, for example a 1M candle closing above the Resistance Zone, it is more likely to see a correction back to the 1W MA50 (blue trend-line). If not and the rate cut expectations prevail, the Mega Rally Phase should start earlier on this Cycle. And as always it will be brutally bullish with the 1W MA50 in support.
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Xauusdsignals
🥇Gold🥇Roadmap🗺️🏃♂️ Gold is moving in the 🟡 Potential Reversal Zone(PRZ)($2,174-$2,107) 🟡
🌊In terms of Elliott wave theory , it seems that Gold has completed wave 3 , and we should wait for a correction to the Fibonacci levels and the 🟢 Support zone($2,070-$2,054) 🟢.
🔔I expect Gold to rise again after the completion of wave 4 (at least to the Yearly Resistance(1) ).
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): All Time High Soon?! 🥇
Gold successfully broke and closed above a key horizontal daily resistance yesterday.
Our next strong resistance is based on the All Time High.
I believe that the market will keep growing to 2140 level.
I really want to see a pullback first though, to buy the market on a retest
of a broken structure.
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GOLD (XAUUSD) Important Key Levels & Your Trading Plan 🥇
Gold suddenly bounced on Friday, forming a high momentum bullish candle on a daily.
The market closed on a key horizontal daily resistance.
Bullish breakout - a daily candle close above 2088 will indicate a further bullish continuation.
Wait for a confirmed breakout to buy.
Alternatively, we may see a pullback from the underlined structure.
I will monitor a price action on Monday and look for a confirmation to catch a pullback trade.
Let's see how it unfolds!
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Gold- Rise above 2060 zoneAfter a particularly frustrating week marked by the OANDA:XAUUSD price fluctuating within a tight range of around 100 pips, the price finally broke above the 2040 resistance level. At this juncture, bulls have taken control and are likely to maintain dominance as long as the price remains above yesterday's low.
The initial target for this upward movement is the 2060 zone, with a subsequent target at 2080.
Gold short at the fibs level with the descending trendline.?As per the previously shared idea gold exactly hit 2050 , Is it right time to short.?
As per the Fibs and descending trendline gold looks like on the resistance now but any news can spark it to 2065 too.
Resistance level : 2050 ,2057, 2065 ,2088
Support level : 2041 , 2033 ,2026, 2015
Disclaimer : Plan your trade accordingly before risking your account .
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GOLD (XAUUSD): Technical Outlook & Important Things to Watch 🥇
Gold remains very weak for 2 weeks.
Analysing a daily time frame, we can see that the market is consolidating and trading
within a very narrow range.
The last 4 daily candles are even trading within the range of a strong bullish candle.
That is a perfect example of inside bar formation.
Depending on the reaction of the price to the boundaries of that range,
I see 2 potential scenarios.
If the price breaks and closes below a 2015 level - the support of the range,
for us, it will be a strong bearish confirmation.
A bearish continuation will be expected at least to 1992 level then.
Alternatively, bullish breakout of 2044 will be a strong bullish signal,
that will push the prices at least to 2054.
Following my previous analysis, I remain bearish biased on Gold and bearish scenario
is more highly probable, but let's see.
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XAUUSD One more bearish leg left to 1930.Gold (XAUUSD) maintains its Channel Down status since last December and so far has established the 1W MA50 (blue trend-line) as the current Support having been nearly tested 2 weeks ago. The current analysis is on the 1W time-frame, which offers a highly reliable long-term outlook.
As you can see Gold has been on a highly symmetrical 4-year Channel Up pattern (since December 2019) with the recent top (week of December 04 2023) being the latest Higher High. Even though the natural technical target on such pattern is the bottom of the Channel (0.236 Fibonacci retracement level), it is more likely for the downtrend to stop on the 1D MA200 (orange trend-line), which is headed straight for the 0.786 horizontal Fib, which has also been a standard target within this pattern.
For us, since there is a Higher Lows trend-line coming straight from the October 31 2022 bottom involved, we will initially target that on the medium-term, on a 193 target and then see if we can short again upon a rebound if the downtrend remains intact.
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GOLD (XAUUSD): Support & Resistance Levels For Next Week 🥇
Here is my latest structure analysis for Gold.
Horizontal Structures:
Resistance 1: 2054 - 2065 area
Resistance 2: 2077 - 2088 area
Resistance 3: 2142 - 2148 area
Support 1: 1984 - 1992 area
Support 2: 1965 - 1977 area
Support 3: 1932 - 1938 area
Vertical Structures:
Vertical Resistance 1: Rising trend line
Consider these structures for pullback/breakout trading next week.
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XAU/USD | GOLDSPOT | New perspective | follow-up detailsAt the close of last week's trading, Gold has shown resilience by surpassing the $2,000 mark. Recent US economic indicators hint at persistent inflation, despite signals of potential policy adjustments from the Federal Reserve. Notably, Producer Price Index (PPI) data exceeded expectations, underscoring the Fed's ongoing efforts to manage inflation. Additionally, a positive shift in Consumer Sentiment reflects American optimism towards economic conditions. Considering these factors, Gold's trajectory remains intertwined with US economic prospects. Potential upticks in inflation could drive up US Treasury bond yields, leading to anticipated XAU/USD downside movements. Conversely, if inflation aligns with the Fed's targets, the possibility of rate cuts may weaken the US Dollar, potentially supporting XAU/USD upside potentials. This video delves into dissecting the current market landscape to help navigate strategic positioning for upcoming market movements.
XAUUSD Technical Overview:
In this video, we conducted a comprehensive analysis of the XAUUSD chart, utilizing both technical and fundamental perspectives. Our examination included an in-depth study of key levels, historical price movements, market behaviors, and the interplay between buyers and sellers, aiming to unveil potential trading opportunities.
Our focal point for the week is the $1,985 zone, endowed with historical significance, rendering it a pivotal level. The sustainability of bullish momentum above this zone could pave the way for continued buying pressure, potentially propelling prices to new highs. Conversely, a breach below the $1,985 level, coupled with persistent selling pressure, might signal a resurgence of bearish sentiment.
Immerse yourself in the latest dynamics of the Gold market! Stay well-informed to make strategic investment decisions.
#GoldMarket #SafeHavenAssets 📺🔔💼
Disclaimer Notice:
Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy.
It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances.
Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it.
Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
Gold Is Ready to Fall Again!!!🏃♂️Gold is moving in the 🔴 Resistance zone($2,035_$2,027) 🔴 and reacted well to the Resistance line .
💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks .
🔔I expect Gold to fall to at least the 🟢 Support zone($2,010_$2,002) 🟢 after the Uptrend line break.
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.
XAUUSD Channel Down is about to top.Gold has been trading within a Channel Down pattern since the December 28 2023 High. The price is at the moment around the 4H MA200 (orange trend-line) and close to completing a +2.84% rise, which is the usual Bullish Leg % within this pattern and currently falls just below the 2045 Resistance.
The 4H RSI is already on the same Bearish Divergence that priced the Highs of February 01 2024 and December 28 2023. As a result, we are turning bearish again on the short-term, targeting the top of the long-term Support Zone at 1985.
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Gold 100% Sure Move Read the caption Personal suggestions for you
Gold price trend to continue fly during session
It is expected that price will continue in the
Buy trend and can approach the price range of 2028
Note
Always wish you to mange your capital safe
Take small lots which suits your capital
The winner is the one who sticks with the market
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Gold will return to the 205x mark in the shortest possible timeGold is having wave data up to 2054 so SELL, you should only SCALPING and prioritize BUY, this week will reach 205x.
The news will legalize the price line. If there are any changes, I will update further.
Short-term analysis by day:
Last night I saw Gold falling to the 2013 level.
Currently, I see that Gold is still slightly recovering in the area reacting to Ma. Around price 2017>2018
Today, Short Wave can still be a Surf Buy, but at Ma89 H4 and Ma34 in D1 still indicate Sell. I still mainly watch the big frames to determine the trend as well as the trend to trade.
Sell Gold around the region 2022>2026
SL 2028
City 2016>2008
Shortwave can still Buy
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"Gold is always risky"
=> Gold prices often reflect uncertainty and risk in financial markets. If there are any major fluctuations in international economic information or political situations, gold prices may increase due to increased demand for safe assets. Conversely, if positive news supports risks, gold prices may decline.
XauUsd- Price prediction- 20 FebruaryIn my comment from yesterday, I emphasized the significance of the 2010-2015 zone as a crucial support level. As long as this level remains intact, the bulls maintain control of the market sentiment and price direction.
Despite experiencing a trading session characterized by low liquidity due to a bank holiday, the price exhibited a perfect reversal from this critical support zone. At the time of writing, it is actively testing the very recent high.
Should the price break through this resistance level, it could pave the way for further gains, potentially propelling it towards the already established classical zone at 2040. This breakout scenario suggests a potential uptrend continuation, with bullish momentum likely to strengthen in the near term.