PLAN TRADING GOLD WEEK : 25.09 - 29.09.2023The day the interest rate information was announced, it increased to the 1946 - 1948 Sellzone, but there was not enough liquidity to overcome it. Immediately after that, it was returned by a very strong SELL amount
There are no signs of a reversal to a downtrend.
Still following the downtrend from the peak of 2067. Even though there was a break (fake break at FOMC time).
Prioritize SELL - follow the trend in 2 regions: 1929.5 and 1936.5
(1929 is already Filled, so the possibility will be quite risky, while 1936.5 is a fairly fresh liquidity zone)
If BUY - you can place a risky bet on: 1911.2
Xauusdsignals
GoldViewFX - Gold MARKET UPDATEHey Everyone,
Our chart idea has played out to perfection. We completed all our Bullish targets followed with the move down into the retracement range.
We then stated the levels are re- activated, as price is back in the range and expected a bounce from the retracement range into the next Goldturn, which was highlighted by an arrow on the chart.
- This also played out today with the bounce from the retracement range into 1925 completing the bullish move we called yesterday.
BULLISH TARGETS
1925 - DONE
EMA5 CROSS AND LOCK ABOVE 1925 WILL OPEN THE FOLLOWING BULLISH TARGET
1934 - DONE
1943 - DONE
BEARISH TARGETS
1917 - DONE
EMA5 CROSS AND LOCK BELOW 1917 WILL OPEN THE SWING RANGE
SWING RANGE
1901 - 1890
We will now come back Sunday with our multi timeframe analysis, trading plan and a route map for the coming week for gold.
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Have a great weekend all!!
GoldViewFX
XAUUSD TOP AUTHOR
XAUUSD: Gold analysis and layout
Gold rose last week, and then began to slowly shake down, the lowest fell to around 1900, but still not broken 1900, Thursday bottomed out, Friday rose strongly, the highest to close near 1930, the weekly line closed a lower line longer than the upper line of the positive line. At present, it is temporarily in the range waiting for a breakthrough in the choice of direction, and the daily line is parallel to the end of the line, and the wide fluctuation between the upper and lower rails is temporarily seen in the short term
Four-hour chart a wave of recovery to recover lost ground, re-broke the downward step, approaching the fall, and there is no obvious unilateral direction in the short term, longer is in the sawing shock, the interval at the beginning of the week, the time point after the European trading, the day to pay attention to the small resistance 1930 breakthrough, followed by 1945/1953 pressure, Focus on 1916/1900 support below
Specific layout:
(1) See 1945/1953 can be short respectively, the target to see 1930-1922
(2) See below 1916 to do more, lose 7 points, the target to see 1926-1930 on the break
(3) Focus on the broken position in 1930
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XAUUSD Golden Cross and the 1H MA50 are supporting this uptrend.Last time we looked at Gold (XAUUSD), it gave us two sell opportunities both of which hit their targets (see chart below):
The price has been rising since, supported by the 1H MA50 (blue trend-line) and on top of that, the 1H Golden Cross has been formed. Last time we saw that pattern was on August 23. On that fractal, once the 1H MA50 broke, the price pulled-back to the 0.5 Fibonacci retracement level and then resumed the uptrend.
As a result, we are bullish already since the 1H MA50 is supporting. If it holds, we will simply add one more buy position when the pull-back hits the 0.5 Fib. In either case, the target is 1953 (Resistance 3).
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GoldViewFX - Gold Route Map for the weekHey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We have 1926 Goldturn resistance target open for a test. We will need to see 1926 break and lock to open the range above.
We also have the retracement zone at 1917 that may require a correctional re-test.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and the catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week last 18 months, you can see how effectively they can be used to trade with or against short terms swings and trends.
BULLISH TARGETS
1926
EMA5 CROSS AND LOCK ABOVE 1926 WILL OPEN THE FOLLOWING BULLISH TARGET
1932
1940
BEARISH TARGETS
1917
EMA5 CROSS AND LOCK BELOW 1917 WILL OPEN THE FOLLOWING BEARISH TARGETS
1910
1905
EMA5 CROSS AND LOCK BELOW 1905 WILL OPEN THE SWING RANGE
SWING RANGE
1897 - 1889
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
XAUUSD | GOLDSPOT | New perspective | follow-up detailsGold's recent performance faced an unexpected twist, challenging the notion that a Fed rate pause could be its ticket to a breakout. Instead, the precious metal found itself in the shadow of its formidable rival, the US dollar.
The preceding week had seen gold bask in the glory of the US non-farm payrolls report for August. Despite an employment gain of 187,000 jobs, surpassing the forecasted 170,000, the unemployment rate inched up from July's 3.5% to 3.8%. This unexpected rise fueled speculation that the upcoming Fed meeting on Sept. 20 might result in unchanged interest rates, briefly propelling gold higher.
However, as the week unfolded, a new narrative emerged. Speculation resurfaced, suggesting that the Fed might consider not just a pause but potentially more rate hikes before year-end to achieve its 2% annual inflation target. Inflation, as measured by the Consumer Price Index (CPI), rekindled in July, surging to 3.2%. These mounting concerns prompted the Dollar Index to soar to six-month highs.
Now, the burning question is: What lies ahead for the Gold market in the coming week? Join us as we unravel the intricacies and potential scenarios in this ever-evolving landscape.
XAUUSD Technical Analysis:
In this video, we delve into XAUUSD from a price action-based technical analysis standpoint. By analyzing historical price moves, market behaviors, and buyer-seller dynamics, we extract insightful cues.
The $1,915 zone will take center stage for this week. Its historical significance makes it a crucial point. If the bullish momentum is sustained then the breakout of the uptrend continuation pattern - falling wedge identified on the daily timeframe could incite a strong uptrend continuation. However, if the price breaks below both the ascending trendline and the $1,915 zone then some selling opportunities could take center stage to trigger a USD-favored sell-off.
Stay tuned for more thrilling updates on the Gold market! Remember, trading involves risks, and I always recommend exercising caution and seeking advice from financial professionals. Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼
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: The rise continues, and 1920 continues to follow the trend
Gold has turned around and started a band rebound, and the target of this band rebound is the 1930 position. The current market is moving steadily towards the goal step by step! The U.S. market fell back and relied on the support of 1914 to continue to go long!
Gold's current decline has ended and a band rebound has begun! It can be seen at the 4-hour level that after gold fell to 1900, the macd diverged, and then the market started to rise and broke through the 1915 position, which was directly suppressed, indicating that the breakthrough was effective!
After the breakthrough, the rally started. In the short term, the current rebound has touched the pressure of the 4-hour upper Bollinger Band. The possibility of a direct breakthrough is small. It needs to fall back and gain momentum again before breaking through. Then the previous pressure of 1915 has become the current Effective support, the US market will rely on this support to go long and bullish! The next target is the 1930 position!
XAUUSD: Extra downside in store – UOBGold prices added to the weekly retracement on Wednesday. The downtick was on the back of a small build in open interest, which hints at the probability that extra losses could be in store for the commodity in the very near term. Against that, the $1900 mark per troy ounce emerges as a key contention area for the time being.
Gold under a cluster of resistancesIn yesterday's post, I said that my bias for Gold is still bullish, however, confirmation is needed to consider a higher low in place.
Yesterday, after a double touch of 1930 short-term resistance, XauUsd consolidated and stayed in the middle of the newly formed range.
As we can see the the posted chart, we are still under resistance and, in fact, the price is under a very important level between 1930 and 1935, given by the falling trend line and 2 important horizontal levels.
A break above this level could trigger a lot of stop losses and we could have acceleration to 1980 in such an instance.
On the other hand, a break under the recent low could lead to further losses toward the 1870 low with interim support at the 1900 zone.
XAUUSD Sell opportunity within the Channel Up.Gold (XAUUSD) is trading within a Channel Up pattern but following the downtrend since the September 01 High, it may be nothing more but a Bull Flat pattern.
Whatever the long-term case, the short-term trade is a sell as the price appears to be getting rejecting at the top of the pattern, while the 1D MA200 (orange trend-line) looms above. Our target is the bottom (Higher Lows trend-line) at 1918.
We will make short-term trades only and buy every candle closing above the 1D MA200, targeting the upper Resistance levels. Similarly we will sell if a 4H candle closes below Support 1 and target 1903.50 (Support 2).
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Gold trend analysis
The bardo-yin line of gold closed down yesterday, and did not form a further rebound in the form of a relay, but instead fell back. The strength of the US dollar pushed up the price of gold, and the price fell back to 1915. The market gradually approached the support of the daily mid-term line. Gold trading strategy still focuses on high altitude
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Gold has dropped to my buy zone. Now what?In yesterday's comment, I wrote that although XauUsd could drop to the 1930 zone, I will remain bullish and buy the dip, and I did.
At the time of writing my trade is floating with 30 to 50 pips loss and, although I would have wanted a straight-up arrow after my buying, I'm still bullish.
As we can see from the chart, after Gold dropped under 1900, a 700 pips leg up followed and after touching the falling trend line resistance started in May, began to drop again.
So far, the drop from the recent top could be only a correction, and, with the price trading exactly in a confluence of supports given by the 50% Fibo and the horizontal level a reversal is probable
With this in mind, I will hold my trade for now and expect reversal from this point with a clear confirmation of reversal to the upside above 1940. In this case, a new leg up is very probable and I will aim for 1980 resistance.
On the other hand, a drop under this level would put a pause on my bullish scenario.
Happy trading!
Mihai Iacob
XAUUSD Quick buy opportunity but upside long-term limited.Gold (XAUUSD) may have formed a Golden Cross on the 4H time-frame but the bullish effect can only be short-term as the Falling Wedge pattern limits the upside below its Lower Highs trend-line. Regardless of that, ahead of an emerging 4H MACD Bullish Cross, we are using this opportunity for a quick buy that targets 1947.50. A closing below the 0.5 Fibonacci retracement level, invalidates that opportunity and opens the way to a deeper decline such as on August 02.
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GOLD (XAUUSD): One More Bearish Clue 🥇
Update for Gold.
After the price reached a solid contracting supply zone on a daily,
the price formed a head and shoulders pattern on a 4h time frame
and broke its neckline and a support line of a rising parallel channel then.
It increases the probabilities that bears will keep dominating.
Goals: 1926 / 1917
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