XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, the DOWNSIDE WAVE, GOLD went down very fast. Due to the POSITIVE SENTIMENT against the dollar, US10Y rose due to this. Then Ibem became a GOLD SELL. Some FED COMMENTS and NFP DATA were very helpful.
But last day all those LABOR DATA and INFLATION DATA INDICATORS were POSITIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF. CPI DATA was quite POSITIVE this week.
Anyway we expect GOLD to go DOWN to 1855 LEVEL. Before that, GOLD can go up to 2033 LEVEL with the FOMC UPDATE. Be careful..
Xauusdsignals
XAUUSD One step away from a major sell-offGold (XAUUSD) is testing the bottom (Higher Lows trend-line) of the Channel Up that started a month ago (March 20). The previous two times it hit this line, the price rebounded and a new Higher High was made.
This time however the price has already been rejected twice on the 4H MA50, which keeps the short-term bearish (until it closes a 4H candle above it). With the 4H RSI oversold below 30.000 for the first time since March 07, we expect at least a short-term rebound towards the 4H MA50 and target 1995. If the candle closes above the 4H MA50, we will extend our buying strategy towards the top of the Channel Up, targeting 2060. If however we see a candle closing below the Channel Up, we will go short, targeting 1940 initially and upon a new 4H MA50 rejection, 1900 on the 0.618 Fibonacci.
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XAUUSD Short-term pull-backs mean nothingThis is Gold (XAUUSD) on the 1M (monthly) chart where the long-term direction is best seen. Apart from the fast that it has been rebounding on the 1M MA50 (blue trend-line) since October, we can see that it has been trading within a Pitchfork, treating each trend-line as Resistance/ Support. At the same time, it gathers buyers every time the 1M RSI hits its Higher Lows trend-line and starts strong rallies when the MACD makes a Bullish Cross. The last such cross was completed on March.
This indicates that every short/ medium-term pull-back on Gold doesn't affect a strongly bullish long-term trend in a market that based on the Pitchfork has incredible upside potential.
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XAUUSD - 4H continue to rise in the channelLet's predict the Gold price for the next week.
After a bullish spike from 1800, we have had an up-trending channel that can continue to rise at least to the all-time high zone
This fall is just a bearish leg in the channel and doesn't change our expectation of rising.
XAUUSD Sell this pull-back, buy on the low.Gold (XAUUSD) broke bellow the Inner Higher Lows trend-line (dashed) and is headed for the 4H MA50 (blue trend-line) again. The long-term pattern is a Channel Up but we see also a Diverging Channel Up that that formed the April 13 High. Sell this pull-back and buy when the 4H RSI hits the bottom of its Rectangle which has provided the previous 3 buy opportunities. This is likely to take place on the 4H MA100 (green trend-line). Our medium-term target on that projected bounce is 2055.
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XAUUSD Asian session and pre london outlook Good evening Gold Gang! i hope you are well and survived the cpi news earlier!! Buy stops Sell stops yayayya
So the news sent us 250 pips north to boop my key level perfectly. Then dropped back down to the lower key level before ranging. None of which provided me with an entry point. Cest la vie
So apart from the asian buys, there hasn't been anything to take today that fit my plan. This is where patience comes into play.
Onto tonights asian and pre london, With price ranging now up until the close, i have my buy zone up at the 2022 key level, candle closure required. This should then move up 100 pips to the next zone of 2031.
The sells (that id prefer) are down at 2003. Wait for candle close. Why am i so bearish you say .. well gang .. there isnt any data at all time highs so trading will be super difficult. So we want prices lower, where past data gives us the edge.
Some nice juicy red folders tomorrow so lets hope for some downside. If not, its fine. We are ready for whatever.
Have a good night guys use correct risk management
tommyXAU
4/13 Gold trading signals: Go long
The 30M moving average support of gold is located near 2015, the 60M moving average support is located near 2008, the 1D moving average pattern is arranged in a long head, and MA5 and MA10 are located near 2010-2004.From a morphological point of view, today's high probability is to break through the previous high near 2031, and trading should be mainly long.
When the price comes to the vicinity of 2032-2038, you can make a retracement market after a big rise. The support looks at the vicinity of 2028-2023. If it is pierced, it will be near 2020-2018.In terms of trading, I am conservative, so take profit is generally not set at the top.
The above is the trading strategy of gold today, and the others will be updated later.
XAUUSD 2k Failure / asian outlookWhat is up gold gang! hope you are all well and rested after the long weekend
XAUUSD today we caught the sells in NY as forecast last night .. absolutely beautiful. Well done to anyone taking that on my analysis.
OK as for tomorrows asian london and NY .. lets get in to it
Price has failed AGAIN to stay above the 2000 level. This says to me that its too strong a psych level and in order for price to stay above, there needs to be another big news event that would effect the dollar negatively. Until then, i believe we will see more pull backs.
I have my sell level marked below todays low. The only problem with this is the area marked out in the white box .. there will be some kind of reaction there .. so either wait for price to clear it .. or take profits there as its likely to bounce.
Buys are back above the 2000 level .. reason for this is we are heavily bearish at the moment and would need to see some heavy news in order to change that.
As usual the target prices are on there .. dont be a greedy guts and take profits along the way .. don't be that instagram guy saying you just caught a 1:19999 once in your whole life .. its always better to compound small wins and keep the win rate high.
Have a good session guys i will catch you for updates in the london session
tommyXAU
XAUUSD 10/4/23 outlook Good morning gold gang! i thought id update you after the weekend off.
Asian sells played out beautifully with a 100 plus pip move to the downside. Splendid!!
For todays london and newyork sessions id have marked my areas of interest .. dxy still making its way up to a key level .. so we may see another short move on gold so i have marked the sells underneath the 4hr flip.
My buy level i have moved down to 2002 as if dxy reacts from the key level .. price should create some more upside for us .. but in true tommy fashion .. we're ready for whatever.
Its not good to marry a bias in gold as it can change so quickly .. thats why im a scalper and im damn good at it!
Ill update you throughout the day .. stay frosty!!
tommyXAU
XAUUSD This Channel Up is everythingGold (XAUUSD) is pulling back as we suggested with our last week's analysis based on the US10Y:
The pattern that emerged is a Channel Up since the March 20 High and the price is right now on the 4H MA50 (blue trend-line). As long as it holds the Higher Lows trend-line (bottom) of the Channel Up, it is a buy signal, targeting 2050 (a Higher High).
If it closes below the Channel Up, then longer term parameters will come in effect, first and foremost being the Fibonacci retracement levels from the March 08 Bottom. The 0.5 - 0.618 Fibonacci range happens to contain the Symmetrical Support Zone that come all the way from mid January. In that case, we will resume shorting Gold and target the top of the Zone at 1910. Notice how the 4H RSI has been inside a Channel Down while the price is on a Channel Up, indicating a Bearish Divergence.
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XAUUSD I hit stop loss & Asian outlookGood evening Gold Gang! hope you are well.
Another good day on the XAUUSD chart with good selling opportunities. One small 20 pip sell in London session and a much larger 100 pip sell in NY. Sadly, the NY trade i was stopped out by a couple pips before it rocketed down .. big sad! .. but we get over it. Analysis was on point and allot of you guys took the sells and profited .. so well done!!
Onto tonights asian and pre London analysis .. ok so we have bearish structure forming nicely with moves to the downside towards 2002 level at market close. I would like to see a strong candle closure under that level to target the 1993 level marked on the chart. BE AWARE! that the 1998 price level is very strong .. so if you are in the sells .. be aware of that level and watch for reversals. If you prefer, you can wait for price to close below 1998 for extra confirmation.
Buys are marked up above the messy range marked .. there is a very strong 4hr zone in there which i would like to see cleared before the buys can happen.
NFP news tomorrow! so i would expect consolidation and god knows what to happen to price once the news is out .. so stay frosty!! quick scalps in and out do not hold at the news.
no buy stops and sell stops either .. the brokers always win there with slippage.
Have a good evening gold gang .. take care and ill catch you in the morning
tommyXAU
XAUUSD BUY PROJECTION AFTER CONSOLIDATION 02.04.23Reason Behind Bullish
Technicals
1. Bullish Engulfing Candle Stick Pattern Confirm Further upward Movement
2. Triangle Ascending Pattern tends to breakout @ 2000
3. Levels S1 1950 S2 1920 R1 2000 R2 2074
Fundamendal
Dxy While retest 104 the XAUUSD reach 1945
After rejection of 104 further Move towards 101 which helps to reach Target
Overall Possible Outcomes
XAUUSD BUY@ 1945-1950
SL 1920
TP 2074
Break Zone - 2000
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, the DOWNSIDE WAVE, GOLD went down very fast. Due to the POSITIVE SENTIMENT against the dollar, US10Y rose due to this. Then Ibem became a GOLD SELL. Some FED COMMENTS and NFP DATA were very helpful.
But last day all those LABOR DATA and INFLATION DATA INDICATORS were POSITIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF. CPI DATA was quite POSITIVE this week.
Anyway, we expect that GOLD will go UP to 2070 LEVEL. After that, GOLD may go down to the 1855 level with the FOMC UPDATE. Be careful..
XAUUSD Perfect analysis & Asia outlook Good evening gold gang! hope you are all well
ok last nights asian session was very low volume before a slight push in london where i took buys as forecast. I jumped out before but the trade did come up to hit the target. BOOP! ... the news sent price insane and we saw a spike down to the 2012 level trapping lots of short sellers before retracing heavily. No trades there as, what do i always say .. no closure, no exposure.
On to tonights asian and london outlook .. price is in a messy range right now most likely consolidating for news this week .. so be aware of that. I have buys above the daily high to move on to the 2041 level and the sells below the big wick of the 2012 to target the 2002 level. As always .. hourly or 30m candle closures are required to determine the direction.
The DXY is at a strong resistance of 101.98 and can reverse .. meaning gold to go up, but im expecting consolidation until the news.
Hope this was helpful and you have some understanding on the way i view the market .. please like and follow along for more xauusd updates
tommyXAU
XAUUSD Caught the buys & Asian OutlookGood evening Gold Gang! hope you've had a great trading day
once again, analysis was super accurate for the buys .. did i know it would rally so far? .. absolutely not. Thats why we take profits! if you missed out, there will always be another DO NOT FOMO
Ok tonights asian and pre london, lets have a look. Price is obviously over extended after todays move .. so there has to be a pull back to collect more orders. Price failed to close above the top level for 7 hours, so this shows exhaustion for price to pull back. If we get more upside, wait for 30m close min and ride them up to the next level. I prefer the sells at this point.
DXY also in a very strong reversal zone, so this could also be a sign for gold to come down a little.
If you got value from this and all my analysis, please leave a like and a comment. I always reply.
catch you tomorrow, happy trading
tommyXAU
GOLD May have peaked medium-term based on the US10Y.Gold (XAUUSD) reached (even broke marginally) the top of its long-term Channel Up. At the same time, the US10Y (black trend-line) is almost on a Double Bottom similar to February 02. That was a medium-term peak for Gold and a one month correction followed as low as the 1D MA100 (red trend-line). Gold's peak was made after its 4H RSI broke above its Lower Highs trend-line, which turned out to be a fake-out.
If the US10Y starts rebounding, Gold may form a similar peak and in that case we will turn bearish on the medium-term, targeting initially the 1D MA50 (blue trend-line) and the last Low at 1910.
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XAUUSD Huge buys wow! Asian outlook Good evening gold gang! hope you are well.
A great day today on our favourite pair .. my forecast was bang on in the asian sells and london/ny buys .. congrats anyone who got in with me.
Price is very bullish and the dxy pushing down so im expecting price to push up to the next key level IF the 4hr flips .. the flip is marked on the chart. It is a relatively small range to the next key level so use tight risk management. Safer buys above the 1993.
As for sells .. id like to see some bearish candles form within asian for then to change bias .. so sells area is marked out on the chart.
Lets hope for some nice volume again during the session .. thanks for all the new follows today! welcome to the gold gang!
tommyXAU
XAUUD Bullish pennant like last November?Gold (XAUUSD) is trading within a Bullish Pennant pattern since the March 20 top. Both the price action and the RSI on the 1D time-frame resembles the Bullish Pennant pattern of last November (both started forming after a +11% rise). That shortly after broke to the upside, as it technically does normally, and posted another +11% rise. Currently a break above it again, would seriously make the market consider another long-term rally.
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#XAUUSD-UPDATED CHAT 180+ PIPS Dear Traders, hope you are doing great, our last trade idea dropped 500+ pips price is forming reversal wave pattern indicating a strong bearish outlook ahead. The recent economic event indicates a large sell orders had have been entered from big firm like JPMorgan, which will also be a key data to look out for.
In our previous setup we had indicated a zone by marking selling pattern that it will drop from that point and price just did that.
So let's catch up:
-Keep noticing on price momentum and behaviour.
-Keep an extra eye on DXY .
-a PLUS EDGE would be to have AUD strength analysed
Previous key economic event:
-Following today's FED meeting; interest rates have been hiked by a quarter point signalling a low economic growth. The SVB crisis also influenced on FED decision. What we are looking with this setup is PRICE TO FALL as we have clear market sentiment backed by strong economic events.
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