Continue to short gold after the reboundGold's decline yesterday found support around the 2888 level before staging a rebound, and it has now recovered to the 2925 area. Although the bulls have begun their counterattack, their momentum appears significantly weaker compared to previous recoveries, indicating a growing lack of confidence among bullish participants.
Yesterday’s downward breakout from a period of sideways consolidation pushed gold through multiple key support levels and decisively breached the 2900 mark. This demonstrated strengthening bearish momentum, driven by profit-taking from earlier positions and an influx of panic-driven selling. Despite the current rebound, it’s likely just a technical correction following the sharp drop, providing more opportunities to short gold.
As gold’s price action shifts lower, the 2925-2935 zone now stands out as a prominent short-term resistance area. For short-term trades, we can use this zone as a key level to initiate fresh short positions. Gold is likely to retest the 2890 support area, and a decisive break below this level could open the path for further declines toward the 2870-2860 region.
Bros, profits are the ultimate goal in trading. Accumulating profits is what changes lives and destinies. Choosing wisely is far more important than just working hard. If you want to replicate trade signals and earn stable profits, or if you want to deeply learn the correct trading logic and techniques, you can consider joining the channel at the bottom of this article!
Xauusdtips
XAUUSD - GOLD - Scalping Mode! 27th JuneLet's see what the market has to offer.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
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
SOLOMON NUMBER of GOLD (XAUUSD)The Solomon Number of Gold is: 1768
Instructions:
A- Every increase in price is an opportunity to sell. The Target is Solomon Number 1768
B- Once the Solomon Number is touched the analysis is no longer valid to enter or take short again.
D- Apply proper risk management according to your balance.
1st short entry@ now
2nd short entry@ 1779
3rd short entry@ 1784
4th short entry@1790
5th short entry@ 1804
TP@ 1768
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
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.
Swing Sell on WEEKLY for GOLD (Head & Shoulders Neckline Break)Break of the neckline on the weekly chart confirms drop past the head and shoulders pattern for XAUUSD. 3 targets set for profit taking based on prior lows, with highest swing being the length of the pattern, confirmed by the lowest low of the target swing. As always, monitor price action and stay patient in case of pullbacks. Take note if price retraces back to test neckline.
XAU/USD Complete Price RangeXAU/USD Complete Price Range then will sideways or make some correction to contineu bearish trend
Watch and wait price action in vital price & area
Write trading planing and exit planing to backup your trade if your analysis going wrong
Always write exit planing first before you go in market calculate the risk according to which you are able to receive it
limit your losses and let gains run
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.
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 :