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XAUUSD trade ideas

Gold (XAU/USD) Consolidating Within Symmetrical TriangleChart Analysis: Gold is trading within a symmetrical triangle pattern, reflecting a phase of consolidation as price tightens between converging trendlines. The current price of $2,611.97 is near the middle of the range, with both upward and downward breakouts possible. 1️⃣ Symmetrical Triangle: Price action is consolidating within the converging trendlines. A breakout above the upper boundary ($2,650) or below the lower boundary ($2,570) would provide the next directional clue. 2️⃣ Moving Averages: 50-day SMA (blue): Positioned at $2,667.53, acting as a dynamic resistance just above the triangle. 200-day SMA (red): Positioned at $2,477.51, providing long-term support well below current price levels. 3️⃣ Momentum Indicators: RSI: At 44.34, trending slightly bearish but still neutral, indicating room for further movement in either direction. MACD: Negative but flattening, signaling waning bearish momentum during consolidation. What to Watch: A breakout above the upper boundary of the triangle and the 50-day SMA could signal a bullish continuation, targeting prior highs near $2,750. A breakdown below the lower boundary may lead to further declines toward the 200-day SMA near $2,477. Gold is at a pivotal point, consolidating within a symmetrical triangle. A breakout in either direction will likely determine the next major move. -MW
FOREXCOM:XAUUSD
by FOREXcom
XAUUSD GOLD Swing TradeHello, Trend-Based Analysis. Buy the Dips, Sell The Rallies, Also Following the Trend. Let's see where the Price Action takes us, Riding the wave. Potential trade setups based on trend momentum. Technical analysis based on trend identification and momentum, Looking for high-probability setups within the prevailing trend. Analyzing the current market trend and potential future price movement. Focusing on risk management and reward-to-risk ratios. Details is Mentioned in Chart, Read carefully.. .
OANDA:XAUUSDLong
by OptionCallPro
XAUUSD ShortGold Bias is Sell. We plan 2 entries if 1 SL hit then we enter 2nd trade. Remember 1 thing Both entries trigger before downside liqudity sweeps that mark in the chart. Gold Price Overview: Consolidation Amid Bearish Bias Sentiment: Bearish - Key Factors: - USD Strength: Fed’s hawkish projections and higher US Treasury bond yields keep the Dollar supported. - Thin Trading Conditions: Holiday season liquidity could lead to exaggerated moves but favor the safe-haven USD. - Bearish Technical Setup: Gold remains below key moving averages, with the RSI signaling selling pressure.
OANDA:XAUUSDShort
by maliabid
XAUUSD at Key Pivot Points: Upside or Downside?Hello, OANDA:XAUUSD has respected the 1D pivot point (PP), finding support at this level. The next key level to watch is the 1M PP. If it holds as support, we could see further upside; however, if it acts as resistance once again, a downside move may follow. Optimism for an upward trend remains, but the reaction at this pivot point will ultimately determine the direction of price action. No Nonsense. Just Really Good Market Insights. Leave a Boost TradeWithTheTrend3344
OANDA:XAUUSD
by TradeWithTheTrend3344
XAUUSDUpdate: Friday, December 20, 2024 There is a downtrend line in the form of resistance!!! We are monitoring the expected movement of the current price. The price may encounter resistance and continue the downward movement. If the downward sloping line is broken, and passes through the support level, the rise may be confirmed and the rise has begun. There are suggestions for two Fibonacci corrections indicating the formation of the beginning of the rise!!! In this case, the Fibonacci technique works when the price stabilizes above the 0.74 area for two Fibonacci corrections, indicating a local upward movement or a rising coordination. Conclusion: As long as the price is below the sloping line, or continues in the downward direction, the downward trend is preferred if it does not reverse to the upside. The next possible trading area is 2540, this price is considered a support area and the price may head towards it.
VANTAGE:XAUUSD
by chihaaymen
GOLDSTATEMENT CHANGES There were only two notable changes to the statement compared to the prior one as flagged in the statement comparison at the back of this publication. Key is that language around forward guidance shifted. They now say: “In considering the extent and timing of additional adjustments to the target range for the federal funds rate….” Instead of: “In considering additional adjustments to the target range for the federal funds rate….” This is material in that it injects fresh uncertainty into how much further the Committee thinks they will be cutting, and how over time. The second change was the introduction of a dissenting voice. Cleveland’s Hammack preferred to hold at this meeting. A MORE HAWKISH DOT PLOT First, picking up on the last point is the observation that there were actually four dots that preferred a hold today, yet only one voting dissenter. That probably says that the other three Committee members are regional Presidents who aren’t in this year’s voting line-up but some of them may be when that changes in January. In teeing up the subsequent points, charts 1 and 2 show the new dot plot of Committee rate projection and compared to our forecasts for the policy rate.... FUNDAMENTAL FROM SCOTIA BANK FOR ADDITIONAL EDUCATION.
FOREXCOM:XAUUSD
by Shavyfxhub
Gold Short Trade 11/12/2024### Technical Analysis for Gold Futures *Current Pattern:* - *Rising Wedge Formation*: The recent price action suggests that Gold Futures are forming a rising wedge pattern. This bearish pattern indicates that momentum is weakening despite rising prices and may precede a price decline. Traders should look for confirmation of a breakout below the lower trendline to validate this pattern. *Key Resistance Levels*: - *Double Top Formation*: A double top has emerged in the price structure, further reinforcing the bearish outlook. The market has struggled to break above the previous highs, indicating potential exhaustion among buyers. *Target Levels for Price Decline*: - *$2693*: Watch for this level as a potential pivot point. If we break below, it could trigger further selling pressure. - *$2687*: This could serve as the next support; a breakdown here might push prices lower. - *$2676*: Another critical support level, further affirming bearish sentiment if breached. - *$2667*: A substantial support area where buyers may step in; however, sustaining a break below this level could indicate a more significant downward trend. *Volume Analysis*: - Pay close attention to trading volume as prices approach these key levels. A decrease in volume during upward movements could indicate weakening bullish sentiment, while increased volume on downward moves might confirm the bearish trend. *Risk Management*: - It's crucial to implement proper risk management strategies. Consider setting stop-loss orders above key resistance levels to protect against unexpected price reversals, and define your risk-reward ratio clearly before entering any trades. ### Summary: Overall, the technical indicators suggest a bearish outlook for Gold Futures with a rising wedge and double top formation. Key monitoring levels are $2693, $2687, $2676, and $2667 for potential sell opportunities. Maintain awareness of trading volume and employ risk management strategies to navigate this market safely. Safe trading, everyone! 📉💼
EIGHTCAP:XAUUSDShort
by SRFXGlobal
GOLD H1 SHOWS BULLS / BEARS ?GOLD: Sideways Trend Persists Ahead of Fed Decision Gold price is currently trading in a sideways trend, struggling to find direction ahead of the Federal Reserve's policy announcement. The precious metal is caught between the 21-day Simple Moving Average (SMA) support at $2,655 and the 50-day SMA resistance at $2,671. Traders are adjusting their USD positions ahead of the Fed's decision, with mixed US PMI data and geopolitical tensions supporting gold prices. Markets have fully priced in a 25 basis point interest rate cut by the Fed. Technical indicators suggest a lack of clear directional bias, with the 14-day Relative Strength Index (RSI) trading flat at around the 50 level. Targets: Buy target : $2,700, $2,726 Sell target : $2,613, $2,600 Best Wishes Tom 😎
OANDA:XAUUSD
by Tom_Trades_670
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