GOLD ( STABILIZING ABOVE FVG) ( 4H )HELLO TRADERS
TENDENCY : generally the price stabilizing above turning level , indicates is under bullish pressure
TURNING LEVEL : the price between 2,395 $ and 2,383 $ and called a FVG , as long as the price trading above this level reach a resistance level , breaking this level trying to touch a support level .
PRICE MOVEMENT : the price in previously can be breakout resistance level at 2,365$ , after stabilizing this level rising to 2,392$ , trying to retest at 2,350$ , after again rising to 2,424$ , know currently price at 2,412$ , my goal resistance level at 2,425 $ .
PRICE ACTION :
LONG CONDITION : have two cases to rising for reach a resistance level , first case the price toward directly reach a resistance level at 2,425$ , second case price corrective a turning level inside FVG between 2,395$ and 2,383$ before rising .
SHORT CONDITION : if the price breaking FVG at 2,383$ by open 4h candle below this level reach a support level at 2,364$ , then stabilizing below this level reach a 2,337$ .
TARGET LEVEL :
LONG CONDITION / RESISTANCE LEVEL :2,425$ , 2,440$
SHORT CONDITION / SUPPORT LEVEL : 2,365$ , 2,337$
Xauusdtrend
XAUUSD - GOLD - Scalping Mode! 11th JulyLet'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!
GOLD ( FED CHAIR POWELL ) ( 4H )XAUUSD
HELLO TRADERS
Tendency active bullish after the price breakout the resistance trendline .
TURNING LEVEL : a blue line between resistance and support level around 2,348$, indicates if the price stabilizing above this level reach resistance level , if the breaking turning level reach a support level .
RESISTANCE LEVEL : there is a green line around 2,378$ , indicates selling have already increase this level , so if the price stable turning level reach this level .
SUPPORT LEVEL : there is a red line below turning level around 2,337$ , indicates buying have already increase this level , so if the price breaking turning level reach this level .
PRICE MOVEMENT : maybe first the price will trying to dropping turning level around 2,348$ , after rising to the resistance level around 2,378$ , then stable above this level reach 2,391$ ,
if the price breaking turning level reach a support level at 2,337$ , then stable by open 4h candle below this level reach a 2,320$ , know the price in the supply returned to the demand zone may be reach a turning level before long .
TARGET LEVEL :
RESISTANCE LEVEL : 2,378$ , 2,391$
SUPPORT LEVEL : 2,337$ , 2,320$
Gold Shorts from 2,410 back downScenario A:
Gold is looking promising for upcoming sells within the 2-day supply zone. As price has been bullish, I expect it to slow down and weaken when approaching this supply. Once price mitigates, I anticipate a Wyckoff distribution to form, providing a precise entry for a valid sell.
Scenario B:
If price retraces before reaching the supply and enters a demand zone, I will look to buy back up towards the supply, following the current bullish trend. Key zones include the 16-hour demand zone or the daily demand zone, where I will be looking to enter buys.
Confluences for Gold Shorts:
- Price has been bullish and requires a retracement.
- Entering a 2-day supply zone that has caused a CHOCH to the downside.
- Lots of liquidity to the downside that needs to be taken.
- If price wants to continue going up, it must retest a demand zone I have marked.
P.S. Scenario C:
If price breaks past the 2-day supply and continues rallying, it will likely carry on its long-term bullish trend, potentially breaking new all-time highs.
XAUUSD ( UPWARD ) ( 4H )XAUUSD
HELLO TRADESRS
Tendency the price will trying to touch turning level before long , indicates a price is under bullish pressure .
TURNING LEVEL : a gold rectangular between resistance and support level , a round 2,317$ , which indicates two cases , the first cases until the price breaking this level reach a support level , the second case the price trade above this level reach resistance level .
RESISTANCE LEVEL : a green rectangular , an area above the turning level around 2,345 $ , indicates selling have already increase at this level .
SUPPORT LEVEL : a red rectangular , an area below turning level around 2,300 $ , indicates buying have already increase at this level .
PRICE MOVEMENT : the price is under bullish pressure until trade above turning level at 2,317 $ , it will attempt to reach resistance level at 2,330 $ , then trade above this level reach next target at 2,345 $ , if the breaking turning level reach to support level 2,300 $, then stable below this level reach next target 2,278 $ .
TARGET LEVEL :
RESISTANCE LEVEL : 2,330 $ , 2,345 $
SUPPORT LEVEL : 2,300 $ , 2,278 $
GOLD ( UNDER BULLISH PRESSURE ) ( 4H )XAUUSD
HELLO TRADERS
Tendency the price attempt to closer a resistance trendline , indicating the price is under bullish pressure , if the breaking this trendline the price stabilizing a bullish zone
RESISTANCE TRENDLINE : a gold line , indicating the price breakout this trend active bullish zone , but stabilizing below this the price attempt to reach a turning level then a support trendline
TURNING LEVEL : a blue line a round 2,326$ , which indicates two cases , the first cases until the price trade above 2,326$ reach a resistance level , the second case the price breaking 2,326$,the price reach support level
RESISTANCE LEVEL : a green line , an area above the turning level , the gold price area for the resistance level 2,345$ , selling have already increase at this level
SUPPORT LEVEL : a red line , an area below turning level , the gold price for the support level 2.302$ , buying have already increase at this level
price movement : the price is under bullish pressure until trade above turning level at 2,326$ , it will attempt to reach resistance level at 2,345$ and 2,360$, if the breaking this level the price trying to reach a support level at 2,302$ and 2,288$
TARGET LEVEL :
ENTRY POINT : 2,326$
RESISTANCE LEVEL : 2,345$ , 2,360$
SUPPORT LEVEL : 2,302$ , 2,288$
Go long gold directly
From the hourly chart, short-term bulls are strong, and the green column of the MACD indicator begins to increase, initially forming a golden cross pattern;
So you can go long directly, and the target is 2340 first. Later data will most likely further boost the gold price, and gold may continue to rise.
If you agree with my trading ideas, welcome to follow, join the channel to get free accurate strategies directly
Today's trading trends, selling strategiesThe employment and economic data released by the US last week showed both positive and negative trends. However, the fairly positive job market has caused the market to predict that the US Federal Reserve (Fed) will not cut interest rates before November this year, instead of September as previously forecast.
Experts say that world gold prices in the next few days will adjust within a narrow range to wait for information from the Fed meeting taking place on June 11-12. Surely the Fed will keep interest rates unchanged this meeting. However, the market will look for information about the health of the US economy and the direction of inflation.
Some financial institutions believe that the Fed cutting interest rates may consider the deflation situation of the world's No. 1 economy, when it twice reported the country's gross domestic product growth in the first quarter. a sharp decrease compared to the fourth quarter of 2023.
Experts recommend that investors should patiently wait for information from the Fed meeting. Because gold prices will be strongly affected when the Fed releases positive information from the US economy.
Gold fell deeply at the end of the week, the downtrend continuedWorld gold prices tend to recover with spot gold increasing by 2.3 USD compared to last week's closing level to 2,294.9 USD/ounce.
The gold market this week is forecast to have many fluctuations and the direction of this precious metal depends heavily on the consumer price index (CPI) report and the interest rate decision of the US Federal Reserve (Fed). ) and a speech from the head of the world's most powerful central bank.
Last week, the market witnessed a strong sell-off when receiving two unfavorable information. Gold lost up to 80 USD during the day, recording the strongest intraday decline in 4 years. Specifically, the price reversed when the latest report showed that the People's Bank of China did not add gold last month, cutting off this central bank's 18-month gold buying streak. The report raises concerns that gold demand will slow down in the near future.
While the market is gradually stabilizing, expectations that the Fed will raise interest rates in September are gradually fading after the US Department of Labor's employment report dealt another strong blow to the market.
The Fed started the fight against inflation from March 2022 with interest rate increases. In this way, the US Central Bank wants to slow down economic growth and reduce inflationary pressure, with the goal of bringing inflation down to 2%. Recent inflation reports show that inflation is currently at 2.7%.
Today's trading strategy, increasing trendAbout 6 o'clock on June 7, today's gold price of the world traded at 2,376 USD/ounce, an increase of 21 USD from the same price as the previous day was 2,355 USD/ounce.
World gold price fluctuated in the context of the European Central Bank (ECB) for the first time since 2019, down 0.25 points of interest rate.
This move makes the market raise expectations that the United States will continue the ECB to loosen monetary policy, in the direction of reducing interest rates in the near future. At that time, the dollar will drop compared to many other foreign currencies. World gold price can increase further in the future.
So at this time, investors increased their purchasing power. Today's gold price increases tens of dollars/ounce is understandable.
Gold constantly increases when the trend is brokenThe world gold price continued to increase with spot gold increased by 20.4 USD to 2,376 USD/ounce. Future gold traded at 2,395.1 USD/ounce, up 19.6 USD compared to the dawn.
The price of gold continues to increase and reach the highest level in 2 weeks when the US bond yield falls after the latest labor report. The published data shows that the "cooling down" of the US labor market has strengthened the possibility that the US Federal Reserve (Fed) will cut interest rates in September. Currently, investors are still hot. Waiting for non -agricultural payroll data of the US to be more sure about this expectation.
The number of important non -agricultural jobs is forecast to increase by 178,000 compared to the April report with an increase of 175,000 jobs. Reporting the private sector in May of ADP published in the middle of this week has shown that the US labor market is gradually cooling down.
According to the market analyst Carlo Alberto de Casa of Kinesis Money, precious metals are supported by the expectation of the recession of the world's leading economy and the peaceful US Bank in the next few months. .
Strong increase again, today's trading trendGold prices fluctuated today amid weaker-than-expected US employment data. Since then, the market has speculated that the country's economic growth will slow down. Investors strengthen expectations that the US Federal Reserve (FED) will cut interest rates by the end of 2024.
Accordingly, US bond interest rates dropped to 4.2%, meaning the value of bonds decreased. Investors put capital into bonds to generate profits. As a result, very little money flows into precious metals. Gold price today has upward momentum.
The World Gold Council said that in April 2024, central banks around the world bought a net 33 tons of gold. This signals that many countries continue to increase their gold reserves to "save for a rainy day".
With the above information, speculators may think the gold market will heat up. From there, they increase their purchasing power. Today's gold price in the world increased by 28 USD, from 2,327 USD/ounce to 2,355 USD/ounce at 6:00 a.m. on June 6.
Gold trading strategy today, continuing the upward momentumWorld gold prices increased sharply with spot gold increasing by 29.3 USD to 2,355.6 USD/ounce. Gold futures last traded at $2,375.20 an ounce, up $27.80 from the bright spot.
World gold prices edged higher midweek, supported by a weakening USD and falling Treasury yields after the latest data showed the labor market cooling.
According to ADP's report, private companies created an additional 152,000 jobs in May, much lower than the number recorded last month and experts' forecasts. This is the lowest monthly number unchanged since the bad month.
RJO Futures senior market strategist Bob Haberkorn said the weak labor numbers act as a catalyst that could force the Federal Reserve to cut back before the end of the year. This has increased the appeal of gold. Lower performance reduces the opportunity cost of holding gold.
According to the CME FedWatch tool, traders saw a roughly 67% chance that the Fed will deliver monetary policy in September, up from less than 50% last week.
Analysts say that important upcoming US economic reports, including data on the health of the service sector and non-farm payrolls reports, are likely to influence the direction of printed gold prices. short.
Don’t be fooled by the rise in gold, boldly short gold!Today's gold prices are more and more obvious, but yesterday's retracement trend and today's repeated failure to pull up, the trend is still obviously weak, and the short trend of gold is relatively obvious. Although today's ADP data is bullish for gold, gold did not rise immediately after the data was released, but swept back and forth, so the power of gold bulls is not obvious.
Now the short-term rise of gold has obvious signs of inducing more buying. Moreover, gold is not resolute in the process of rebounding and rising, and it still faces resistance in the 2345-2350 area in the short term. So don't be confused by the rebound of gold. On the contrary, now is a good opportunity to short gold. In addition, before the arrival of NFP on Friday, it is difficult for gold to have a unilateral market. It is expected that gold will still maintain a volatile trend to accumulate strength for the NFP market on Friday.
So now we can still rely on the resistance of the 2345-2350 area to boldly short gold!I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
Gold is in a downtrend, entry sell todayGold prices in the international market increased sharply amid weak US economic data. Specifically, the purchasing managers index (PMI) in the manufacturing sector decreased from 49.2 points to 48.7 points. This has reinforced market expectations that the US Federal Reserve will cut interest rates by the end of 2024.
In response to the above information, financial investors sold off USD, causing the currency to fall to its lowest level in the past 3 weeks. USD Index dropped to 104 points. Gold price today has momentum to go up.
On the other hand, US bond yields fell to 4.4%, meaning the value of bonds went down. Accordingly, investors sell bonds and shift capital to precious metals. Today's world gold price increases by tens of USD/ounce is inevitable.
Sideway gold, selling strategy todayWorld gold prices increased with spot gold increasing by 21.5 USD to 2,350.5 USD/ounce. Gold futures last traded at 2.3716 USD/ounce, up 25.6 USD compared to yesterday morning.
Gold prices rose at the beginning of the week when the latest report showed that US manufacturing activity slowed for the second consecutive month. Specifically, the purchasing management index in the manufacturing sector decreased to 48.7% in May, compared to 49.2% recorded in April. This figure is weaker than the forecast of the world. expert. Disappointing economic data that raised the possibility that the US Federal Reserve (Fed) will cut interest rates this year pushed the dollar to a three-week low and benchmark US Treasury yields fell. dropped to its lowest level in 2 weeks.
According to High Ridge Futures Chief Investment and Alternative Trading Officer David Meger, the positive trend in gold comes from strong expectations that interest rates will be cut at some point later this year.
Accordingly, the latest economic data makes investors believe that interest rate cuts will soon be implemented. Late last week, data released showed US inflation stabilizing in April. This has increased bets on an interest rate cut in September. Traders are currently pricing in around 56%. The possibility of cutting interest rates in September, increased sharply compared to before the report.
Short gold, target around 2300
From the 4-hour chart, it can be clearly seen that a head and shoulders top pattern has been formed, which is a bearish pattern. The short-term rebound high is 2336.
The trading strategy is mainly short selling, sell @ 2327-2332, and you can add short positions at 2336, with a target of 2305-2300.
You can configure your positions according to the above strategy for trading.
If you agree with my point of view, remember to pay attention, and leave a message if you have any questions