XAUUSD - Gold rebounded due to the Fund, is it possible to sell?On the night of November 20, today's spot gold price on the world market stood around 1,973 USD/ounce. Gold delivered in December on the Comex New York floor was at 1982 USD/ounce.
The world gold price on the night of November 20 was about 8.2% higher (149 USD/ounce) compared to the beginning of 2023.
World gold tends to continue last week's increase after inflation in the US cooled down. It is likely that the US Federal Reserve (Fed) will soon reverse monetary policy and reduce interest rates.
This week, the Fed will release the minutes of its monetary policy meeting. Market signals show that the Fed will almost certainly keep interest rates unchanged at its December policy meeting and will likely maintain it at 5.25% - 5.5% until June next year.
The USD on the world market decreased quite quickly. The DXY index - measuring the fluctuations of the greenback against a basket of 6 major currencies, dropped sharply from 104.1 points at the end of last week to 103.6 points at the beginning of the trading session on November 20 on the US market.
Xauusdsignals
XAUUSD Double Top Sell SignalGold (XAUUSD) is failing to break early into today's E.U. session above Friday's High, and that is so far a Double Top. If it holds, it will be a technical rejection sell signal and based on the similarities with the September 01 peak fractal (+3.65% rise, identical 4H RSI patterns), it can complete a drop even a little under the 0.236 Fibonacci retracement level.
With the 1D MA50 (red trend-line) involved this time as the long-term Support and the 4H MA50 (blue) and 4H MA200 (orange) each offering its part as Supports the past 10 days, we will put our target a little higher at 1950.
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XAUUSD: Next week's highlights
This week, gold returns close to 40k, gold once rose to 1993 in the case of CPI data, then fell back to 1980 near, next week focus on the 1980 support to break the situation!
Currently there are orders do not know how to operate friends, you can pay attention to me, I will answer for you!
XAUUSD: Trend analysis and operation strategy
Jobless claims helped gold rally again yesterday as data showing a softening labor market, combined with recent inflation data, reinforced the view that the Fed is unlikely to raise interest rates further. These negative US economic data exacerbated the decline in US Treasuries, which in turn caused the price of gold to soar. The daily level, the Bollinger band continued to close flat, the surge in international gold prices broke through the resistance of the first line of the medium rail, and successfully stood firm above the medium rail, the morning opening price continued to rise, there is a trend of further higher in the short term, and this wave of rebound prices once again hit $2000 is not a problem. 4 hours, the Bollinger belt opening up, the price of gold to maintain the upward trend of shock, the whole direction is still mainly, the recent trend of gold is relatively strong, the pullback is expected to be not too much, short-term attention to yesterday's rise after the pullback near the low point of support, that is, the 1980 line of support, waiting for the price pullback to do more.
Spot gold operation recommendations:
Strategy 1: Callback 1976-1980 near multiple single entry, stop loss of $6, the target 1992-1995 line;
Strategy 2: Rebound 1995-1992 near the short single entry, stop loss of $6, the target of 1980-1975 line.
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XAUUSD: SellInitial jobless claims are about to be announced. From a technical perspective, the trend of gold today is biased towards the short side, but there is uncertainty in the data.
If it is negative for gold, then it will follow the trend and have a sharp decline, and it is expected to fall below 1950.
If the data is bullish for gold, there is a high probability that it will fall back after rising, so today we focus on short trading.
If you don’t want to take risks, you can wait until the data is released before trading. Those who like risk-taking can trade short positions in advance to control risks.
Good day and good luck!
GOLD - Gold trading strategy on November 16World gold prices increased today (November 16), but conflicting US inflation data is increasing volatility and risk for precious metal investors.
Traders' and investors' attitudes were more optimistic midweek following reports that the US consumer price index for October increased 3.2% year-on-year. CPI is forecast to increase 3.3% year-on-year, compared to a 3.7% increase in the September report. October PPI fell 0.5% from September compared to expectations of a 0.0% increase. 1% during this period. CPI and PPI data met the expectations of those who wanted to see the Federal Reserve pause its interest rate tightening cycle. Now, many Fed market observers believe that the US central bank will continue to pause interest rate increases in the coming months.
US stock indexes were higher and at multi-week highs in midday trading, following sharp gains posted on Tuesday.
XAUUSD:It has the potential to form a double top
The 1957 support level is confirmed, and the rebound tests the resistance near 1965. If it cannot break through, it will form a double top pattern. If it breaks through and performs a backtest to confirm that the 1965 support is valid, it will rise again and break through 1980.
XAUUSD:Sell 1981-1986, Buy 1969-1963
Hello everyone, welcome to Allen's strategy column.
Yesterday I shared with you today's trading plan, focusing on the resistance from 1974 to 1989, and also talked about the trading direction. I am more inclined to rise. The market is in line with expectations. The support was tested during the Asian and European trading periods, with the lowest at 1961.It has not fallen below 1957, which is very good.
Now it is above 1970, which is very close to the resistance of 1974. If it can be maintained above 1969 before the start of the US market, then there is a very good chance of testing around 1979-1981 when the US market opens. .
Trading signals: Sell 1981-1986, Buy 1969-1963.
If you encounter a problem that cannot be solved, you can tell me and I will try my best to help you.
Good luck to everyone!
gold trading strategy
Today it started to rise after backtesting the support of 1961. Now it faces the resistance of 1974 and is trying to break through. From a morphological point of view, the probability of breakthrough is greater, so the transaction should be to fall back and go long ( 1971, 1969, 1966 ), with the target set at 1979, 1984, 1987.
XAUUSD Retracement almost completed. Sell opportunity.Gold (XAUUSD) took advantage of the lower than expected U.S. CPI and rose aggressively back above both the Channel Down and the 4H MA50 (blue trend-line) but not before hitting our Lower Low target within the Channel Down (see chart below):
Even though this rise is more based on fundamentals than technicals, the price is approaching the 0.618 Fibonacci retracement level where the previous Channel Down break-out formed a top and reversed (September 01 2023). If fundamentals continue to influence the market more, then we might see Gold rise a little more, until the 4H RSI gets close to 80.00, but the upside is limited. You can start selling with a first short-term target the 0.236 Fib ay 1947.50.
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Gold looks ripe for a pullbackGold prices rallied nearly 11% over a 3-week period into the cycle highs. Yet the characteristics of its clean, strong bullish move have been replaced with choppy price action since it failed to hold above $2000.
A shooting star formed on Friday following its false break of $2000 to form a lower high on the daily chart. And this was followed by a bearish engulfing day on Monday to show momentum is trying to turn lower.
Given the strength of the initial move, I suspect gold needs to pull back. The highs around $1950 make a ideal initial target for countertrend trade, whilst prices remain beneath Friday's 'shooting star' high.
We can reassess its potential for a swing low if prices pullback and respect support.
GOLD (XAUUSD): Intraday Outlook & Trading Plan 🥇
Update for Gold.
Earlier, we spotted a confirmed violation of a key horizontal support.
Retesting the broken structure, the price formed a narrow horizontal range on a 4H time frame.
Its support breakout - 4h candle close below 1931 - will give you a strong intraday confirmation.
A bearish continuation will be anticipated to 1923 / 1916 levels then.
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XAUUSD Is the pull-back completed?Almost 10 days ago we made a bold (at the time) bearish call (see chart below) for a short-term pull-back on Gold (XAUUSD) towards the 1W MA50:
The yellow metal has so far responded positively to this call as it dropped below the 4H MA50 (blue trend-line) to 1945. The Channel Down pattern that emerged is using the 4H MA50 as its Resistance/ Lower Highs trend-line and until it breaks, we should be expecting a continuation. Oversold 4H RSI readings will always give technical bounces like yesterday's but as long as the 4H MA50 holds, it is more likely to see Gold test the 4H MA200 (orange trend-line) on the 0.382 Fibonacci retracement level at 1933. If the 4H MA50 does break and closes a candle above it, we will buy and target 1995.
Notice how the Channel Down pull-back is similar to the declines of July - August, May and April. The 4H MA50 served as the Resistance and in the case of April, it did test the 4H MA200.
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XAUUSDWillson came to visit bro 😁
Gold and silver have fallen over the past few weeks as the geopolitical advantage that built up in both metals following the Hamas terror attack on Israel early last month has begun to ease. This is because the situation in the Middle East, while still tragic, has not yet turned into a broader conflict involving other countries, such as Iran or Lebanon.
XAUUSD - Gold trading strategy, selling trend continuesWorld gold prices this morning continued to decline with spot gold down 19.3 USD to 1,949.4 USD/ounce. Gold futures last traded at 1,955.7 USD/ounce, down 17.8 USD compared to yesterday morning.
The gold market witnessed its third consecutive decline as investors looked for new signals about the US Central Bank's interest rate stance.
Daniel Ghali, commodity strategist at TD Securities, said that traders will start looking at economic data and potential actions from the US Central Bank and gold will react based on whatever data brings. According to this expert, it is difficult for gold to gain momentum if data does not show economic weakness.
Recently, in their speech, a series of US Federal Reserve (Fed) officials kept a balanced view on the central bank's next decision, but noted that they will focus more on more on economic data and the impact of higher long-term bond yields.
Gold is an asset that is very sensitive to rising US interest rates because they increase the opportunity cost of holding non-interest bearing assets like gold.
The secret to making 200K profitHello everyone, this is Antonio. Because the original TradingView account expired, I stopped updating articles for a while.But my trading did not stop.To be honest, I am not a financial writer, but a loyal trader, so I pay more attention to combining the market to develop my own trading plans and trading signals, and I am keen to participate in market trading.
Fortunately, in the past three months of trading, I have made a profit of more than$200K, which I think is a good number.Of course, I occasionally lose money during the trading process, but I have always been clear about my goals, strictly follow the trading plan, implement risk control management, loyal followers with a 95% winning rate, and strive to achieve the goal of a stable weekly profit of$20K.So one thing I often say is to walk with wealth and make a profit in the most correct way!
For the current gold market, gold has now stepped out of the 1990-1980 price range and has chosen to run downwards. It is currently trading near the 1965 position.Then according to the current trend structure, gold has not shown a low point, then gold will still seek support downwards, and gold is bound to touch the 1953 position, or even near the 1945 position.Then when we participate in gold trading, we only need to follow the trend and short gold at high levels.The top first pays attention to the resistance of the 1974-1976 area, and the bottom first observes the defense of the 1960 position.
In fact, as long as you grasp the rhythm, it is easy to profit from gold trading. If you don't know the exact rhythm of trading, you can execute it according to my trading ideas.I will post my trading ideas every day, and I will also post free trading signals on time.Many friends have very helpful feedback.If you want to learn the logic of market trading, or you want clear trading signals and get more profits, I can satisfy you, be sure to follow the bottom of the article to view the details!
Golden Monday Strategies and Signals
Gold, last Friday's non-agricultural benefit was good for gold, once again showing the momentum of an upward breakthrough, and it started to retreat after hitting the highest level near 2004. Unfortunately, this upward wave did not have too much continuity, but the speed of the retreat was also too high. Soon, as the saying goes, the long and short positions in the short term will once again fall into a certain degree of shock. There is not much controversy in the follow-up on Friday night, it is just a small shock, and for now , Friday’s counterattack is likely to be the last washout for the shorts. Judging from the support effect of the daily line, the upward strength of the bulls has weakened, the support effect is somewhat shaky, and the key pressure port above will also remain at the 2000 line , then this position will also be an important suppression point for gold next week, and the support below is also Friday’s upward starting point 85 line. At present, the overall trend is still bearish on the market, and next week gold will still be around below 2000 Go short.
Short-term operation strategy:
sell1999-1997 sl2005.5, tp1988-1985
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XAUUSD Channel Up into Head and Shoulders? Which will prevail?Gold (XAUUSD) is heading into today's Nonfarm Payrolls (NFP) report trading on a Head and Shoulders (H&S) within a Channel Up pattern. Even though the volatility will be great coming into the report, we should trade this on a candle closing approach.
A 4H candle closing above the 1993.50 Symmetrical Resistance, will be a bullish signal, targeting 2020, which will be a typical +2.70% rise as the previous two bullish legs of the Channel Up.
A 4H candle closing below the 1970 neckline and more importantly the 4H MA100 (green trend-line), will be a bearish signal for us and we will target the 1D MA50 (red trend-line) at 1930.
Note that the 4H MACD just formed a Bullish Cross. However the previous one on October 27 failed to turn the trend bullish and instead formed the (so far) top of the Channel Up.
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