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XAUUSD - The downtrend is not over yet!Today, the world gold price recorded a slight decrease. This precious metal reached about 2,737 USD/ounce and has not fluctuated much since the beginning of the week. Regarding the influencing factors: - Gold prices increased slightly due to the demand for safe haven capital, when the whole market is anxiously waiting for the results of the US presidential election. - However, the gold price increase has slowed down somewhat when US stocks increased very strongly. The Dow Jones index increased by 427 points, Nasdaq increased by 259 points and S&P 500 increased by 70 points. Many people have invested in stocks, causing the cash flow into the gold market to slow down. Gold prices no longer have the momentum to accelerate. Regarding the new outlook for XAUUSD: As we can see on the 1-hour chart of XAUUSD, we can see that the current price tends to move sideways around 2,730 - 2,757 USD. Meanwhile, the breakout from the previous bullish trendline is forming strong resistance nearby, suggesting that this could be a key resistance zone for any upside move. If the price breaks below the $2,730 support zone, further downside is likely near $2,700.
OANDA:XAUUSDShort
by AmbaniFX
Gold price today: Continuing momentum!Ben hello everyone. Today, gold price is tending to decrease, after not passing the resistance vertices of 2790-2750, the price has begun to decrease and currently trading at $ 2728. This decline takes place before important events such as the US presidential election and the interest rate of the US Federal Reserve (Fed). As seen on the 2 -hour chart, it can be seen that gold price is still reacting around EMA 34 and the discount has not been broken, showing that the downtrend has not ended. Due to these factors, according to Ben's personal opinion, it is expected that gold price will continue to decrease in the near future, which is likely to reach about $ 2708 lower than $ 2709.
OANDA:XAUUSDShort
by Bentradegold
2
Few things can happen for GoldGood drop because of tight election night so here is the way gold can do; It need to break Resistance 2,663 | 2,685 & 2,700. If it breaks those 3 resistance the but will remain strong and will hit back to 2,725 thru 2,765 zone. If you are in the buy now please be very careful and cautious cuz the resistance are very tight. 2,650 is a pretty strong support along with 2,640 & 2,625.. the buyers should be just fine. Please be cautious and dont put SL too far; place at least %12-14.5 percent away from your entry so you wont lose much. SL : 2,660.70 or 2,659.75 I known its close but it can spike pretty quickly before you know it. So please use proper risk management Lets make this money
OANDA:XAUUSD
by JoyBoyVegae
E-mini S&P 500 Futures The price is trending upwards, as shown by the recent higher highs and higher lows following a bounce from a previous downtrend. The price is currently above the 50-day moving average, which is a bullish signal. The Bollinger Bands indicate periods of high and low volatility. The price has recently tested the upper band, indicating a potentially overbought condition or strong bullish momentum. This could lead to either a pullback or consolidation. The volume bars indicate an increase in trading volume, especially recently. Rising volume with rising price confirms the uptrend and suggests strong interest in the current direction. Resistance is near the recent highs, close to 6,000. If the price breaks above this level, it may signal a continuation of the bullish trend. Support is around 5,800, close to the lower Bollinger Band. This level could act as a floor if there's a pullback. Overall, the trend appears to be bullish, but caution is warranted as a reversion could occur if overbought conditions persist. The uptrend is likely to continue if the price holds above the moving average and moves higher on increased volume. Traders should watch for potential pullbacks towards the 5,800 level and keep an eye on volume and the interaction with the Bollinger Bands for signs of either continuation or reversal.
CME_MINI:ESZ2024Long
by Sahrin
XAUUSD Trading Idea 07/11/2024Overall Trend: The chart shows an extended uptrend from the left side, followed by a significant downtrend. There are potential signs of trend exhaustion near the recent lows, but no clear reversal yet. Sentiment: 0 (Neutral) Patterns: Head and Shoulders Top (bearish reversal pattern), Descending Channel (bearish continuation pattern) Strategy: A bearish strategy seems appropriate given the recent downtrend and bearish patterns. Potential short entries could be considered on a break below the recent swing lows or on any failed rally attempts into resistance levels. Alternatively, a bullish countertrend strategy might be viable if the market shows clear signs of a trend reversal and breaks above the descending channel resistance. Sentiment Analysis: The recent sharp sell-off and bearish chart patterns suggest a shift in sentiment towards a more bearish stance, although the market remains indecisive near the current levels. Market Structure: The Head and Shoulders Top pattern identified a major swing high, followed by a series of lower swing highs and lows, indicating a strong bearish impulsive move. The recent sell-off encountered support near the 2663 level, forming a potential swing low. A break below this level could expose further downside targets. Order Flow: The sharp sell-off suggests significant selling pressure overwhelming buyers. However, the recent price action around 2663 shows some buying interest emerging, potentially indicating a struggle for control between buyers and sellers. Potential Entries: Short: 2640, 2620 (break of support) Long: 2695, 2720 (break of resistance) Stop Loss: Short - Above 2720, Long - Below 2640 Take Profit: Short - 2600, 2580, Long - 2740, 2780 Signal Strength: 65 (Moderately Strong) Next Analysis: Monitoring order flow and volume at key support/resistance levels to gauge potential trend continuation or reversal. Additionally, analyzing higher timeframe charts for broader market context and alignment.
PEPPERSTONE:XAUUSD
by Sai2k
Intraday Trading Setup: Key Support and Sniper Shot Targets Support Level: The support is currently set at 2659. This level is critical because if the price holds above it, there is potential for upward movement. It's a key point for price stabilization. If the price drops below this level, we need to be cautious and reassess, but the market can still reverse and go higher after testing this zone. First Target (2662 - Sniper Shot): The first target I’ve set for today is 2662, which I am calling a sniper shot. This is a very precise level where I expect a possible breakout or a strong reaction. If the price reaches here and holds, it could signify a continuation of the upward momentum. Second Target (2668 - Sniper Shot): If 2662 is cleared, the next potential target is 2668, another sniper shot level. This is the next critical resistance zone where price action could struggle before breaking through or pulling back. If the market breaks this level, it strengthens the bullish outlook. Third Target (2672 - Sniper Shot): The final target for today is 2672, which is my third sniper shot level. This represents a strong resistance point where profit-taking or a significant reversal could happen. If we reach 2672 with strong momentum, the market might continue even higher, but it could also face resistance and retrace. If Support Breaks (2659): Even if the support at 2659 is broken and the price dips below, there’s still the potential for an upward movement afterward. The market can often retest lower levels before reversing back up. So, even if there's a temporary break of support, watch for signs of price reversal or consolidation, as the bulls may regain control. In Summary: Support Level: 2659 (Critical Zone) First Target: 2662 (Sniper Shot) Second Target: 2668 (Sniper Shot) Third Target: 2672 (Sniper Shot) Even if the price breaks support at 2659, there is still potential for a reversal and a move higher. Always monitor the price action closely to make adjustments as needed.
OANDA:XAUUSD
by BinSalmanFundsReal
Trade 2: XAU/USD - Short - 8.2 RR RatioLonger Time Frame Analysis - 1hr 1. Clear bearish sentiment Shorter Time Frame Anlaysis - 15min 1. AMD price action 2. Bearish Triangle 3. Engulfing bearish candle between 0.5 and 0.382 Shorter Time Frame Analysis - 5min 1. Shorter EMA cross under Longer EMA at the bearish triangle breakout Entry: 1. BOS 2. Shorter EMA cross under Longer EMA 3. The candle next to breakout bearish candle closed below the price of breakout candle Targets: Using Trend Based Fib Extension T1: 2649.23 T2: 2636.50 T3: 2620.40 SL: Above EMA cross under of 5 min time frame *Please share your views and thoughts about the setup*
FOREXCOM:XAUUSDShort
by MyWayofLookingThings
Bullish, but there will be selling to test all support wicks - - Price Target: Expecting price to reach the 1.272 Fibonacci level near 21,052.50, then retrace to find support. - Entry Point : Looking to enter long at 19,979. - Invalidation : Long bias is invalid if price falls below 19,818, especially around the 4-hour candle close. - Note on Wicks : Pre- and after-hour wicks often don’t hold up; they’re likely to get rejected. First target will be 20,788.50 and final target would be 21,388.25
CME_MINI:NQ1!Long
by DRlPPy
GOLD UPDATES MOMENTUM AHEADHello fellow traders, were back on. after the ascending channel, price corrects and clear the high. RUn liquidity for 30$ moves upside, then price has momentum on going back to its trendline. Im expecting a price to clear the previous corrections. First might get the OB then manipulate below. The higher targets would be the previous high! THis is not a financial advice. Follow for more. chart invalid if the friday highs break next week. For more detailed charts keep following.
TVC:GOLDLong
by D1GITALTRADES
Gold Intraday Trading Plan 11/7/2024Gold has fallen sharply because of election result. This is highly matched to my prediction in weekly TF. And in daily, it has broken the channel, which indicating heavy sells ahead. Now the path is tricky. Although bearish trend is obvious, Intraday trading is difficult. Due to large red candle, we may see correction taking place. Patience is the key. I would expect price touch 2640 in Asian session and bounce back to 2670. Afterwards, a new leg down takes place. Let's see what market will give us.
CAPITALCOM:GOLDShort
by SteadyFund
2024-11-06 - priceactiontds - daily update - sp500Good Evening and I hope you are well. tl;dr sp500 e-mini futures - Same here, 2 daily bars engulfing 2 months price action and market tested the upper bull wedge line for a new ath. We are close enough to 6000 that we can expect it to get hit, everything else would be a huge surprise to me. Can you short 6000? Not blindly, market mostly needs a double top or more at these levels before it gives up on it. If bears get below the 1h 20ema, I start thinking about not being bullish anymore, until then it’s peak euphoria. comment: Huge day for the bulls, right to or through the upper bull wedge line, depending on how you want to draw it. 6000 is the target and bulls will not stop until we have printed it. Bears can’t seriously expect this to stop before so that is why most of today's price action was bears giving up. We need some time around 6000 to find out how many bulls want to buy that price or if we see an immediate profit taking and reversal down. For now the bull wedge is still alive and the best pattern we have. 6000 would be a bit of an overshoot and those can reverse very fast and they like to test down to the other extreme, which would be 5800ish. current market cycle: bull wedge key levels: 5730 - 6000 bull case: Bulls want 6000. Don’t make this more complicated. Market has not touched the 1h 20ema since yesterday’s US open. As long as it is not broken, only look for longs until we hit 6000. Invalidation is below 5730. bear case : Bears don’t have much. Complete giveup from since yesterday and they will try again at 6000. If they somehow manage to print a decent 1h bear bar below the 20ema tomorrow, their case would get better. For now they don’t have one. Invalidation is above 6050. short term: Max bullish for 6000 as long as 1h 20ema holds. medium-long term - Update from 2024-10-13 : Very rough guess for the remaining trading weeks in 2024. Spike up, decent correction (~10%), nasty (blow off top) year end rally if earnings hold in Q4. Don’t trade based on that guess. current swing trade: Nope trade of the day: Buy anwhere.
CME_MINI:MES1!Long
by priceactiontds
2024-11-06 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr dax futures - 1 daily bar to almost engulf 2 months of price action. The rejection above 19600 was strong enough to expect that the highs are in but I am not convinced. I highly doubt dax will be flat or lower while wallstreet is doing an early Santa rally on coke. I am much more bullish and expect 19000 to hold. Decent 1h bear bar that closes below 19000 can convince me to turn bear. comment: Tough to ponder what to make of big up on US markets while dax sold off hard to get below 19100 again. I do think 19000 is huge support and bulls are favored but 6 consecutive daily bar closes below the ema is pretty bearish. Will continue to look for longs around 19100 until 19000 is clearly broken and we go down. current market cycle: trading range key levels: 18900 - 19700 bull case: Bulls got above 19600 which was an amazingly fast up move but the sell off was even better. Bulls have still no reason not to buy this around 19100. It has been profitable for a month now and given price action on the other markets, I am having a very hard time to be bearish. Bulls need to get above 19300 for more bears to cover and then they can try to go 19500 or higher again. Most outrageous target of 20000 is still on the table. Invalidation is below 19000. bear case : Bears see the perfect head & shoulders pattern on the daily chart. Also the huge rejection above 19600 and the 6 consecutive closes below the daily ema. Bears have all the arguments on their side to try and break below 19000. Is the current market environment good for them? I don’t know. It’s not that often that major western indices converge that much but let’s see tomorrow. Measured move down brings us to 18300. Make no mistake, I absolutely, 100% expect that price to be hit again this year. This rally is nothing but coke fueled euphoria based on hopes and dreams the next US government will wave a magic wand and fulfill wallstreet’s dreams. Invalidation is above 19700. short term: Bullish as long as 19000 holds. I think we can print 20000 before this corrects big time. Below 19000 I am wrong. medium-long term - Update from 2024-10-19 : 20000 is the goal for 2024, if bulls do not get it until year end, it will probably not happen for the next 5-10 years. This market is beyond overvalued and will drop 30-50% in the next 5 years. I have no doubts about that. That fact should not be relevant to your trading at all. current swing trade: If 19000 holds tomorrow, will do a swing long and hope for a homerun to 20000. trade of the day: Wild swings in both directions. Globex was obviously as bullish as it gets but changing to full bear mode on EU open and hold to 19100 was tough.
EUREX:FDXSZ2024Long
by priceactiontds