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Gold (XAUUSD): Is a Long-Term Cycle Ending Soon?We came across a long-term view of TVC:GOLD on the monthly chart, and it’s hard to ignore what it suggests. Since 1980, Gold has shown clear Elliott Wave structures, with Wave III respecting key Fibonacci extension levels. Now, we appear to be concluding Wave V, which could mark the end of a multi-decade cycle. While the RSI on the monthly timeframe is overbought, it’s not definitive on its own. However, when paired with the chart structure, it raises concerns. We expect a potential max price for Gold at $3,000, a significant psychological level. If this marks the end of Wave V, Gold could retrace to a range of $1,400-$1,700 as part of a major correction. An alternate scenario is that we’re still concluding Wave III, with more upside left. Either way, we anticipate a short-term push above the current trend channel, targeting $2,910-$3,000, before a correction for Wave (4). Alternatively, breaking the trend channel prematurely could trigger the start of this correction sooner than expected. Our short-term target is $2,420-$2,150 before resuming a push to $2,900-$3,000. Alerts are set, and we’ll provide updates or potential setups as this unfolds.
CAPITALCOM:GOLDShort
by freeguy_by_wmc
Investors, Heads Up! XAUUSD Breakout Alert!Calling all traders! XAUUSD is blazing, smashing records with finesse! Here’s the latest: XAUUSD Overview: Engaged in a gripping duel between 2682 and 2695. Is a breakout looming? Bearish Outlook: Be alert for potential declines if it dips below the range! Targets: 2676 and 2667. Bullish Outlook: Anticipate buying opportunities if it breaks above! Targets: 2700 and 2705. Join the Discussion: Share your perspectives as we journey through this golden terrain! Let’s reach new heights together!
TVC:GOLD
by luxgoldtrader
Capture Final Profits with Targeted Range TradingMarket Analysis: Today marks the final trading day of the week, and after capitalizing on the week’s significant volatility, we’re positioned for a more subdued session. With the U.S. presidential election concluded and the Fed’s rate hike now settled, external drivers for gold have largely subsided. As a result, gold is likely to trade within a defined range without any dramatic price swings. Forecast and Range Projection: Gold is expected to fluctuate within a range, with resistance at 2705 and support at 2690. As it approaches resistance, prices may dip, while support levels around 2690 could trigger a rebound. Accordingly, today's trading strategy is simple: focus on range-bound trades by selling at resistance and buying at support. Trading Strategy: Sell near 2705 Buy near 2690 Recommendations: For those ready to execute, this plan provides clear guidance for capturing profits within the range. For detailed strategies and ongoing insights, please contact me. VIP members will receive a complete weekly trading plan, tailored to maximize returns on today’s final moves.
OANDA:XAUUSD
by Falcon-Training-Camp
XAUUSD - BUY Panic over Looks Like NY is Buying they do on a Friday especially. With Elon on Trump's advisory panel America may have a chance that is good. Inflation is still the main thorn in the side of everyone especially investors I would Suggest. Interest rates ticking down step by step so interest rates-Bonds are not as attractive as they were so might as well Buy Gold, especially in inflationary times and has there been much talk about inflation over the last couple of years ??? Oh yer so there has. Trump will be spending hard out he loves spending so Inflation again = Nightmare. He was one of the the primary causes of all this inflation the world has seen since the so called Pandemic (lol) and giving out Excessive Stimulus Cheques to everyone and his dog, far more than anyone needed. So they will remember and also dive back into the Stock Market. All Trump ever wanted was for people to remember how much the stock market rallied while he was Presidento and bugger the consequences, not surprising for such a vain man, but it has worked in his favour with the majority of the people voting him back in. So all looks good for all assets I would say without a doubt he will find away to make everything go up regardless mark my words.
OANDA:XAUUSDLong
by NZ_Shareman
ES/SPX levels and targets Nov7thOn Wednesday, buyers triggered longs at 5902, sending us all the way to our 6013 target right to the tick yesterday. Now investors are taking a breather, holding around 6000 for the last 17 hours. I often mention how the day after trend legs are experienced traders’ least favorite days to trade. Longs are risky do to chasing. Shorts are risky due to being against the trend. And because of these two, the chance for chop is VERY high. Keep this in your head today…and after day after rallies. As of now: Continue holding runners if you have them from yesterday. Expect chop between 6009-5979, with 6000 acting as a mid-pivot point. Levels to watch are 6009-13, and 6035-38 if we push higher. If 5978 breaks, a dip is finally on the table.
CME_MINI:ES1!
by ESMorg
ES price action review Overnight session 10-8-24Going over the price action overnight ES and looking for clues as to what the market is telling us. setting up 3 possible game plans for the market but we will not dictate what the market does but rather listen to what the market is telling us. only A+ setups today. no setup no trade end of story. we're not losing $$$ on a Friday. we will add a weekend Focus list review and a new crypto review as we need exposure to all these asset classes regularly.
CME_MINI:MES1!
by BobbyS813
GOLD SMART MONEY PLAY Smart Money Play for Gold The primary trend shows bullish signs overall (above the daily Ichimoku cloud), but recent bearish momentum and trend breaks suggest caution. Here’s how to approach it: 1. Confirm Support Around Key Levels • Price recently bounced off the 2670 level, which aligns with the 50 SMA on the daily and acted as a previous turning point. This makes 2670 a critical support level. • Daily volume analysis with ADL positive and CMF above zero suggests underlying buying pressure hasn’t completely faded, indicating that buyers may defend this level in the short term. 2. Monitor RSI and MFI for Bullish Signals • The daily RSI is below 50 at 48, which raises caution. If it remains close to 50 or reclaims this level, it may signal that bullish momentum is recovering and provide a potential long entry. • The daily MFI, sitting at 50, also needs to stay at or above this level to confirm continued buying interest. A dip below 50 would suggest a more significant downside risk, indicating that sellers may be gaining control. 3. 4-Hour and Lower Timeframe Confirmation • On the 4-hour chart, price is retesting the 200 SMA from below after the recent rally from 2670 to 2708. A sustained move above the 200 SMA would be a strong signal of a short-term recovery. • The 2-hour MACD remains light green, indicating that bullish momentum is fading. Watch for it to turn dark red as a potential early indicator of another leg down, or to stabilize and re-strengthen if price remains above the 200 SMA. 4. Ichimoku and Bollinger Bands for Trend Context • Daily Ichimoku cloud analysis shows price has dipped below the conversion and base lines, though it remains above the cloud, suggesting a short-term bearish correction within a longer-term bullish structure. • Price currently resides in the lower part of the daily Bollinger Bands. If it holds here or moves towards the middle band (20 SMA) without breaching further support levels, it could indicate consolidation before resuming the upward trend. Trade Ideas 1. Long Continuation (Buy-the-Dip): • Entry: Enter near 2670 if price shows bullish signs (e.g., 4-hour MACD turns dark green again or 4-hour RSI moves higher). • Stop-Loss: Place a stop below the daily 50 SMA and recent low (around 2660) to allow for volatility while managing downside risk. • Target: Look for a rally towards the 20 SMA and middle Bollinger Band on the daily (around 2720–2730), and potentially the daily Ichimoku conversion line if momentum returns strongly. 2. Short-Term Short (if daily RSI remains below 50 and MFI dips under 50): • Entry: If price breaks below 2670, consider a short position targeting the lower Bollinger Band or Ichimoku cloud support as an initial target. • Stop-Loss: Set stops just above the 200 SMA on the 4-hour chart to avoid excessive risk if the trend turns. • Target: Initial target around 2650 or Ichimoku cloud support level on the daily as a lower support. Summary of Smart Money Play 1. Trend Bias: Mixed – watch for continuation signals around support for long positions, but don’t ignore bearish continuation if support breaks. 2. Setup: Wait for confirmation around 2670, with a preference for long if support holds. 3. Entry Trigger: Use 4-hour MACD, RSI, and price action around the 200 SMA for confirmation. 4. Risk Management: Stops below support for long positions or tight stops above resistance for shorts, with targets around Bollinger bands and Ichimoku levels.
OANDA:XAUUSDLong
by Shivsaransh1
XAU/USD ! 11/8 ! downtrend line / scalping XAU / USD trend forecast November 8, 2024! SCALPING Gold price (XAU/USD) stays below $2,700 as the European session approaches on Friday, weighed down by a slightly stronger US Dollar (USD) amid optimism that Trump’s policies may boost economic growth and inflation. Additionally, a generally positive risk sentiment is reducing demand for the safe-haven metal, pausing its recent recovery from the 50-day Simple Moving Average (SMA) support, after hitting a three-week low on Thursday. Still following the downtrend - waiting for trendline and retest 2689, scalping down today /// SELL XAU : zone 2689-2692 scalping SL: 2695 TP: 40 - 80 - 150 pips (2677) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
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