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XAUUSD How to deal with fake outs (tutorial) Good morning gold gang! Im back with another educational piece this weekend getting ready for market open. In this weeks i want to look at the fakeout. The fakeout is a false breakout of the key level. When price moves and closes outside of the level, the next step is to enter the trade. Sometimes what happens is price will close then shoot back up into the range. This is a fakeout. The way i deal with them is i always make sure my entry is a pip or 2 after the wick of the previous candle .. normally what happens is the next candle will open before the wick and saving you from the entry. If this doesnt happen, then you take the loss like a man/woman/person and move on. What NOT to do is change bias and take buys (in this case) as you can get faked out this way too .. a change in bias would be above the next htf resistance or key level. Hope this was educational guys .. please like and follow along for more XAUUSD updates. I post daily and you dont want to miss them. tommyXAU
OANDA:XAUUSDEducation
by tommyXAU
2
Gold: These Two Levels Can Change The XAUUSD TrendAdvice For Day Traders: XAUUSD is not tradable between the range of 1766 to 1745 . They are trend changer levels. Gold's Simplified Trading Strategy: According to Elliott Wave theory, it was in a corrective wave. It has completed the ABC, and now gold can start marching for a new impulse phase. Therefore, we can expect the gold's target price 1782 - 1790+ . In simple language, you should wait for the breakout of 1766 or 1745 . Because of that's a crucial level for XAUUSD traders. If gold will breakdown the 1745 level, then the downtrend will begin. And that downtrend can drag it down up to 1730 - 1706 - 1686 . Please note, don’t forget to watch significant releases or events mentioned above in the chart that may affect the movement of gold, silver, and crude oil. Tuesday, Sep 21, 2021 18:00 Building Permits (Aug) - Medium Impact Wednesday, Sep 22, 2021 02:00 API Weekly Crude Oil Stock - Medium Impact 19:30 Existing Home Sales (Aug) - Medium Impact 20:00 Crude Oil Inventories - High Impact 23:30 FOMC & Fed Interest Rate Decision - High Impact Thursday, Sep 23, 2021 00:00 FOMC Press Conference - High Impact 18:00 Initial Jobless Claims - Medium Impact Friday, Oct 01, 2021 18:00 PS MoM - Medium Impact 19:15 Manufacturing PMI - Medium Impact 19:30 Michigan Consumer Sentiment - Medium Impact
OANDA:XAUUSD
by forextidings
15
What To Expect Next For Gold?If you followed my previous posts, you are certainly loving the profits that came forth. The gold did break through, and dare I say, it is now going to rebound back up for a retest. The chart above has nothing new added to it. The reason I am sharing this is to show you the trendline resistance that I had already drawn in my earlier charts. The trendline acted as a force to be reckoned with, and the lower highs were all but indicative of a collapse. This tied in nicely with the recent reports that came out. Now, we come to address the elephant in the room. "What on earth should we expect next?" So far, it seems like the buyers and sellers are in a bit of indecision about whether to move up or down. The next few hours will play a critical role. It is possible that we may see Gold rise back up to retest its lost ground. Refer to my earlier post Gold - The bigger picture where I have highlighted the overall scenario. For now, I would suggest refraining from trading Gold. If you have the power to hold your ground, I would suggest going long. Best of luck, and remember, trading is risky, but the rewards are well worth it.
FOREXCOM:XAUUSD
by sohrabkhanlive86
XAU/USD slips to 1,303.75Morning outlook - XAU/USD slips to 1,303.75 Yesterday the American Dollar continued to strengthen against the yellow metal and even managed to form a little descending triangle, whose lower support line matched with the upper boundary of a former long-term ascending channel. In the early Thursday morning the bullion lost another 0.33% and slipped below the 100-hour SMA. On the one hand, a forming downtrend suggests that the plunge can continue at least until the 200-hour SMA near 1,295.80. On the other hand, over the last three days appreciation of the buck was mainly driven by various fundamental events. In contrast, today there will be no significant data releases that could give the Dollar a necessary impulse for the further surge.
FX_IDC:XAUUSD
by UnknownUnicorn890690
XAUUSD : IT DID FALL DOWN! (UPDATE)Hey guys, This is more of an update to a previous analysis we had. We had a good short on gold before we went long on the rebound. It is now clear that gold broke to the downside and it's trying to go for our new zone highlighted in our blue rectangle. We could see a bounce off the last FIB or it could go straight down to our preferred zone. PA is always key. We need to see where this lands before entering the market with a trade. I'll keep you guys posted. For quicker updates, follow me on Telegram or Instagram Trade safe! This was an update to this chart :
FX:XAUUSD
by ScottMescudiForex
XAUUSD -Gold/Dollar: Possibilities AnalysisSince price has been following upward to retest resistance (down/green) trendline, it can attempt to test other resistance: the past high swing & resistance at that price as is (blue line). Test of these prices resisted may be needed to ever start a short condition, yet Daily TF:(Following image) shows attempt at resistance (MBL slightly upward (yellow line), but green/red moving down), so I assume price will rise higher most likely to later form a better sell opportunity as it now slightly consolidates to "subtrendline" or the uptrendline.
FX_IDC:XAUUSD
by YardleyRosette