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XAUUSD Double bullish break-out. One last level to go.Gold (XAUUSD) offered us a great double trade following our previous analysis, as first it was rejected on the 4H MA50 (blue trend-line) back near the multi-year Support and the rebounded back to the Lower Highs trend-line of the August High: Now the price broke above both the 4H MA50 and the Lower Highs trend-line and as expected, is consolidating around the Pivot Zone. The last time it did so for that long was from July 22 to July 27. With the 4H MA50 holding as Support, the price then had a 2-week aggressive rally to the 1808 High, which is now our Resistance. We expect a similar consolidation before another strong rally. The 1D MA50 (red trend-line) is now the Resistance to beat which will break that consolidation. Notice also how the RSI on the 1D time-frame has been rising since the September 01 low on the Oversold Zone. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSDLong
by TradingShot
1
XAUUSD Rejected on the 4H MA50. Trading plan ahead.Gold (XAUUSD) closed its 3rd straight red week on Friday which erased all of the gains of the mid July - August gains. On our August 16 Gold post, we expected some relief but of course this selling is heavier than expected: Still, as long as the multi-year Support of 1680 holds, a new rebound to at least the 1800 Resistance Zone is possible. However, the price needs to break above the 4H MA50 (blue trend-line), which rejected the short-term rebound yesterday and preferably the Lower Highs trend-line since the August 10 High. Added pressure is given by the Pivot Zone, which is now acting as Resistance (previously a Support). A bullish factor is the fact that the 1D RSI hit its Oversold Zone. A break above the 4H MA50 can target the 4H MA200/ 1D MA50 (orange and red trend-line respectively) cluster and after a potential re-test of the 4H MA50/ Lower Highs trend-line as a Support this time, then target the 1800 Resistance on the medium-term. On the other hand, a break and weekly closing below the 1680 Support, can turn the trend Bearish long-term. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
XAUUSD - GOLD CURRENT SITUATION According to the analysis given to XAUUSS earlier, the TREND LINE is BREAKING and going down about 150 PIPS. We hope you get it. We have some very important NEWS coming to USD this week. So we have to wait a bit until we get them. The reason is that in this week, some very important DATA such as MANUFACTURING DATA, LABOR DATA etc. should be received. They can definitely have a very positive effect on GOLD. Anyway, with US10Y UP, GOLD is going down a bit now. Anyway, we expect GOLD to go down to 1671 LEVEL. Before that you can definitely move to 1760 LEVEL GOLD. Stay tuned.
OANDA:XAUUSD
by benny_marshall
XAUUSD on a Support. Trading plan ahead.Gold (XAUUSD) has been pulling-back on Lower Highs since the August 10 High. It is trading below all short-term MA periods, the 4H MA50 (blue trend-line), the 4H MA200 (orange trend-line) and the 1D MA50 (red trend-line). However having hit the 4H Oversold Zone and the (red) pivot, which is the high volatility range, it is likely to rebound. Best to engage with longs only if the 1D MA50 breaks, which had the last rejection on August 25. A break below the Pivot Zone should test the 1680 level (multi-year Support). Only a break above the 1D MA200 (green trend-line) should be capable of restoring the long-term bullish trend. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
4
XAUUSD Successful rejection as expectedIt was only last week where we first called for some relief following Gold's (XAUUSD) 4 straight green weeks rally: The rejection has been successful and the price is now approaching the Pivot Zone (red) made of a similar fractal back in August - September 2021. The 4H MA50 (red trend-line) has crossed again below the 1D MA50 (blue trend-line) for the first time since April 27. The same happened on September 16 2021 (red flag). This short-term pull-back shouldn't alter the medium-term bullish trend, as shown by both the 1D RSI, which remains on Higher Highs and the 1D MACD (histogram on Higher Highs and Higher Lows, but on Bearish Cross). Perhaps it would be best to wait for a break above the 1D MA50 again for a safer buy. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
XAUUSD on 4 straight green weeks. Some relief next?Gold (XAUUSD) has completed four (4) bullish 1W (weekly) candles in a row since the mid July bottom. This is its longest green weekly streak since December 2021. Having broken last week above the Lower Highs trend-line from the March 08 Top, Gold quickly re-tested its 1D MA50 (green trend-line) as a Support. The overall long-term outlook hasn't changed since our July 08 idea: The next Resistance to overcome is the 1D MA200 (yellow trend-line) - 1W MA50 (blue trend-line) cluster, which happens to be just above the 0.382 Fibonacci retracement level. We may not get a real move for months, as Gold has previously traded sideways within the 1750 Pivot line and that Resistance cluster, from late June 2021 to early February 2022 and the Ukraine - Russia war that helped it to fundamentally break upwards. So it is our opinion that unless XAUUSD closes above the 0.5 Fib level, a lot of low risk sideways opportunities exist within roughly 1750 - 1830. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
XAUUSD Make or break time for the bullish case after a long timeGold (XAUUSD) continues to trade within the Channel Up we discussed last time, having hit on Thursday the 1D MA50 (blue trend-line) for the first time since April 22: It has only been a month since we laid out the symmetrical levels on the long-term and how 1680 would be targeted but remained the long-term Support. The rebound since July 21 has been strong and having broken above the 1D MA50, Gold is making a case for finally reversing the long-term bearish trend: As you see on today's chart, the final hurdle is the Lower Highs trend-line that started from the March 08 Top. Both the 1D RSI and the MACD show that the we've broken above momentum Resistances and the buying pressure is pilling up. A favorable R/R strategy would be to sell with an SL on the March Lower Highs if the 4H MA50 (red trend-line) breaks, and target the 1725 level, which is top of the Pivot Zone. If the price breaks above the March Lower Highs, we'll have the final confirmation for the shift to a bullish trend long-term, with a first target on the 1D MA200 (orange trend-line) and second the 0.5 Fibonacci retracement level at 1875. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
XAUUSD | Perspective for the new week | Follow-up detailsIs this a Gold bubble on the back of the US recession hint? Following a consolidation phase around the $1,710 zone at the beginning of last week's trading session; Gold gathered bullish momentum and climbed to its highest level since the beginning of the month. In this video, I explained how intend to take advantage of any trading opportunity that comes up during the next week. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
OANDA:XAUUSDLong
by darcsherry
XAUUSD turned to a Channel UpGold (XAUUSD) broke above its 4H MA200 (orange trend-line0 today for the first time since June 23. It has done so by forming a Channel Up pattern since the rebound on the 1680 Support. That was a projection we clearly outlined on our long-term analysis at the start of July: Right now the next Resistance that buyers are targeting is the 1D MA50 (red trend-line), which has been intact since April 22. Most likely this will coincide with a test of the March 08 Lower Highs trend-line, where a break above will be a major bullish break-out and should start filling the higher Fibonacci retracement levels. If you haven't bought already and are looking for a confirmation signal, do so after the 1D RSI breaks above the June 10 Resistance. On the other hand, any rejection on the 1D MA50 or the March 08 Lower Highs trend-line, will be a sell signal (short-term) towards the 4H MA50 (blue trend-line). -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
1