Long IdeaPrice has broken back into value, seemingly rejecting the notion that sellers have taken control of the market, I am expecting price to move back to yesterday's main distribution and POC.
XAUUSD trade ideas
XAU ! 10/29 ! Continue the uptrend, wait new ATHXAU / USD trend forecast October 29, 2024
Gold price (XAU/USD) rises to the $2,757-2,758 range in the Asian session on Tuesday, approaching last week’s record high. Continued safe-haven demand due to Middle East tensions and US election uncertainties supports the metal, while falling US Treasury yields keep the USD under pressure, adding to gold's appeal.
The uptrend is still going on - optimistic sentiment in the market makes gold still a priority investment before the US presidential election
/// SELL XAU : zone 2769-2772
SL: 2777
TP: 50 - 200 - 300 pips (2742)
Safe and profitable trading
Gold is in Super Bullish Mode in 2024, Heading towards $3200 In my previous charts I have shown all the reasons, behind this Super Bullish mode.
And i also clearly shown the figures if any reversal will take place in future.
So, enjoy the ride and also keep your eyes on hedge point or SL ( 2768 ) for tp 2800, 2900 & 3200.
XAUUSD, 15-MINUTES TIMEFRAME CHART XAUUSD, 15-minute timeframe chart
XAUUSD touched the resistance level of 2,757.00
General outlook
XAUUSD has been under buying pressure within the last day. The pair moved up to the resistance level of 2,757.00.
Possible scenario
The best way to use this opportunity is to place a sell order at 2,755.30.
Set your stop loss at 2,760.30 below the previous low ($4.00 loss for 0.01 lot) and take profit at 2,740.30 ($15.00 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
Gold Prices Drop Sharply After Peaking – Will Recovery Return?Hello everyone,
Today, November 1, 2024, the global gold price has unexpectedly reversed sharply from an all-time high and is currently trading around 2,745 USD/ounce.
The main reason for this decline is the release of U.S. economic data indicating signs of stability and recovery. This diminishes the appeal of gold as a safe-haven asset, while U.S. government bond yields rise and the U.S. dollar continues to strengthen.
In the short term, gold prices may remain under pressure if U.S. economic data continues to improve, especially if employment and inflation reports show a positive outlook. However, other risk factors such as geopolitical conflicts or global financial instability could support gold prices. If signs emerge that the Federal Reserve (Fed) will slow the pace of monetary tightening, this could provide momentum for gold prices to rise again.
Grab Your XAUUSD Scalping Chance!Market Analysis Summary:
Buy Opportunity: Targeting the 2750 zone from the 2730-27 level.
Market Structure: Overall bullish trend, indicating potential upward movement.
Short-Term Caution: Formation of lower lows may lead to a sell-off down to 2690.
Upcoming Events: NFP report is on the horizon, which could introduce market volatility.
Key Points to Consider:
Monitor the 2730-27 zone for entry signals.
Watch for price action around 2690 for potential reversals.
Be prepared for fluctuations around the NFP release.
Stay informed and adjust your strategies accordingly!
Gold Sell GOLD HAS REACHED AN ALLTIME HIGH OF 2790.
Before this happened gold created a false head and shoulders pattern with a head at 2758 and a neckline at 2717. If gold breaks through 2717 expect a sell to 2700 and 2665 to complete the head and shoulders pattern. And if any downward movement continues as expected, I will give new targets.
Gold Trading- How to Avoid false breaks- 3 simple tipsIf you’ve been trading long enough, you know the rush of seeing a big bullish breakout. Those massive green candles make it tempting to jump in immediately, fearing you might miss the move. But if you’ve experienced a few of these moves reversing sharply, you also know the sting of buying at the top.
False breakouts—when price appears to break out but quickly reverses—can be frustrating. You can’t avoid them entirely, but using a few smart strategies can help reduce the risk of getting caught on the wrong side of a trade. Let’s dive into key strategies for breakout trading, including buying dips in an uptrend and selling rallies in a downtrend.
1. Don’t “Chase” the Markets
When the market suddenly surges higher with multiple big bullish candles, the temptation to enter is strong. This move can make it feel like you’ll miss out if you don’t buy immediately. But in most cases, strong moves like this mean the market is likely due for a pullback. In an uptrend, these fast, high candles can often reverse or slow down, leaving those who bought at the high with losses.
Pro Tip: If you spot three or more large bullish candles in a row, it’s usually too late to enter. Waiting for a pullback (which we’ll discuss soon) is often the safer approach.
2. Trade with the Trend: Buy Dips in an Uptrend and Sell Rallies in a Downtrend
One of the most effective strategies for avoiding false breakouts is trading with the trend. Here’s the basic principle:
In an Uptrend: Buy dips. When the market is trending upward, buying during short-term pullbacks is often a better strategy than buying during strong rallies. This approach allows you to get in at a lower price, reducing the risk of buying at the high.
Example: Suppose the market is moving steadily upward but experiences brief pullbacks to a support level. This is an ideal opportunity to buy, as it aligns with the trend's direction without chasing after a breakout that could reverse.
In a Downtrend: Sell rallies. During a downtrend, the market will often move lower, but with periodic upswings. These rallies are temporary and typically followed by further downward moves. Selling during these rallies can help you align with the downtrend while avoiding the risk of a sudden reversal.
This buy-dip, sell-rally strategy aligns your trades with the overall market direction, minimizing the chances of getting caught in short-lived breakouts.
3. Look for a Buildup Before Entering a Breakout Trade
One key strategy to avoid false breakouts is waiting for a buildup near a key resistance or support level. A buildup is a tight consolidation (or a “squeeze”) pattern that suggests the market is coiling up energy to make a sustained move in one direction. Here’s how it helps:
Buildup at Resistance: If an uptrend is approaching a resistance level, a buildup (narrow price range) near that level often indicates strong buying pressure. It suggests that sellers are struggling to push prices lower, increasing the likelihood of a successful breakout above resistance.
Stop Loss Placement: If the price breaks out from a buildup, you can use the low of the buildup as a stop-loss point. This gives you a more favorable risk-to-reward ratio because if the breakout is genuine, it’s unlikely to fall below the buildup low.
Pro Tip: Patience is key. Wait for the buildup pattern to appear near resistance in an uptrend or support in a downtrend before taking a breakout trade. This approach is particularly useful when combined with buying dips in an uptrend or selling rallies in a downtrend.
Very recent example (yesterday):
Summary:
Strategies for Breakout Trading and Trend Alignment
To avoid getting caught in false breakouts, follow these steps:
- Don’t chase big moves after three or more bullish or bearish candles.
- Align with the trend by buying dips in uptrends and selling rallies in downtrends.
- Use buildup patterns to time your entries, placing stop losses below the buildup for better risk management.
By focusing on trend alignment, buildup patterns, and avoiding the urge to chase, you’ll find yourself in stronger positions and with greater control over your risk in the market. These strategies can help you catch trend-following breakouts without falling prey to the frequent traps that catch traders off guard.
Gold (XAU/USD) Technical Analysis Update – 31 October 2024Gold has displayed impressive bullish momentum, recently reaching an all-time high of 2790.120 on October 30, 2024. This significant level was achieved just one day after breaking through previous highs at 2758.52 on October 29. With this aggressive upward trend, Gold continues to showcase strength in the face of global market uncertainty, signaling strong demand.
Analyzing the 1-hour timeframe, we observe that the price is trading within an ascending channel pattern. This setup indicates a steady upward trend, with the potential for price pullbacks that may create new higher lows along the way. This pattern suggests that Gold is likely to continue its upward movement after minor corrections, with the next key resistance level in sight at 2800.000.
Traders should monitor this level closely, as a break above 2800 could indicate further bullish extension. However, it's crucial to watch for any pullbacks that may test previous support levels within the channel, presenting potential buying opportunities.
Trade safely and stay wise! Always ensure your risk management strategies are in place. Gold’s high volatility can bring both significant gains and risks. Stay updated, stay prepared, and may your trades be profitable.
GOLD Price Analysis: Short-Term SELL with High RiskGOLD Price Analysis: Short-Term SELL with High Risk
On the 60-minute chart, gold faced strong resistance after testing 2790 for three consequitive times. This level also corresponds to an all-time high price zone.
Considering the geopolitical situation and the strong bullish trend this short-term bearish scenario comes with a high risk.
However, the market needs to correct periodically before gold can rise further.
The first support is near 2770, and the second, stronger support is around 2760.
This second area is a strong support zone from where gold may bounce up again.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
GOLD To The Moon Very Soon , Don`t Miss It To Make 500 Pips !We Have a daily broke for daily res , so i think the price will test this broken res and then go up at least 500 pips , it will be very risky entry but let`s see what will happen
This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
GOLD is a leader - Cautioushi,
I cannot tell you what is TVC:XAU is doing but i can give you some references. I enjoy trading high time frame levels and high time frame price action because it suits me. What I am seeing from this chart gold will put up a long term high for few month in my opinion.
if i want to buy TVC:XAU now i'll wait price to come close to $2500.
targets - $2795
targets - $3232
let's wait and see.
Gold: Dual Impact of NFP and Geopolitical RisksGood morning, everyone!
Yesterday’s intense market fluctuations made fortunes for some and losses for others overnight.
As time progresses, we see clearly on the 30-minute chart that MA60 has shifted downward from around 2770 to 2760, while the primary uptrend support has moved up from 2730 to approximately 2740. This suggests that, under MA60 resistance, gold might retrace to test support near 2740.
Meanwhile, the upcoming Non-Farm Payroll (NFP) and unemployment data will be key drivers for gold’s direction. And don’t overlook another major factor: a potential response from Iran, which could bolster gold’s safe-haven demand.
After reading this, do you feel more clear on your trading strategy? If not, feel free to read it again, or reach out to me—I’m here to help clarify and refine your approach!
Gold is in the bullish direction after correcting the supportHello Traders
In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET
today Gold analysis 👆
🟢This Chart includes_ (GOLD market update)
🟢What is The Next Opportunity on GOLD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
XAUUSD near 2800$ resistance wait for pump below 2500$As we a lot price now is receiving resistance of trendline sell pressure + 2800$ to 2850$ resistance zone and we are looking for heavy dump here like the red arrows on chart also remember that any more war news and ... can pump price suddenly and then start of correction and fall is expected.
DISCLAIMER: ((trade based on your own decision))
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Gold on interesting Technical fractalTechnical and Fundamental analysis: My mid-week Target been met earlier than I expected as the DX, (Stocks remained High) and Bond Yields dipped. The Volatility is still High however but Gold is giving me decent accuracy patterns but with mixed Technical signals and may look to set a new Support zone first (my estimate #2,772.80) before hitting #2,800.80 benchmark. The Long-term trend remains Bullish with Daily turned green on all of its MA periods, still on the middle stages of the new Bull run as it is just below the 0.618 Fibonacci level (hence the current pull-back). My Long-term Target remains #2,852.80 and #2,900.80 benchmark in continuation. I will treat every Bearish spike as an Buying opportunity. Notice how, as explained on previous posts, the DX broke its Daily chart's Support which was much needed for Gold in order to break first Lower then Higher. The decline on Bond Yields also helped. I believe that Gold's set to push Higher, potentially testing Higher High's Upper zone as interest Rates head Lower, central banks extend purchases, and uncertainty surrounding geopolitics and Bond Yields pullback. As these interest Rates came down, Gold has rallied in #2019, rising to the Highest level in six years, as Investors contemplate slowing economic growth, prospects for easier monetary policy in the U.S. and China and festering trade frictions (similar to current upswing). The upswing has been given added momentum as central banks, including authorities in Russia and China step up purchases. A revival in Stocks lead to spillover demand from Investors for the older haven, Gold. Interest rates are going so low, particularly now in Europe.
My position: I have closed my yesterday's session Buying order #2,772.80 and closed on #2,786.80 and re-Sold on #2,785.80 towards #2,774.80 which brought excellent #25-point Profit within the session. I will continue Buying #2,772.80 Low's for now and as my Profit is excellent, I will not assume more Selling orders / only if #2,770.80 break-out is delivered which is major re-Sell signal.
Gold possible buy We traded continuation trend, when liquidity was created and cleared, while FVG was filled, target was also reached, new opportunities await all of us
Gold Out LookPreviously from few weeks we were bullish over gold and still if we follow the major trend from monthly to weekly to Daily we are still bullish over the pair but from last week the pair has shown us a new ATH and done a retracment downwards now its has reached between 23.8 to 38.2 retracment level now as the price action is followed it will follow the bear trend from 4H to 1H to lower time frames and go towards price level of 2716 and then if bears will push it more down and price breaks the support level on 2716 it will be seen in 2698 level of support which is 50% of fibbonaci retracement level and then we can a see a upward rally
GEOPOLITICAL Factor
As we have seen earlier Iran and Israel Tension was on Peak and Investors tried to Invest in Safe heaven and the safe heaven performed well now the tension is weaken a little so that price is going down if some tension increases we will see a Rise in price
AMERICAN Elections
American elections are right on the edge and price 5th November is a crucial date and the coming week will be a busy week for safe heaven banks and big player so we will be watching price closely if we observe any bullish price action pattern we will be buying safe heaven otherwise we will enjoy the bearish move
fingers crossed next week will be very busy and crucial for the future of Bulls and bears
Gold continues to increase in price due to many support factorsGold prices increased while the US economy showed signs of slowing down faster than expected. US GDP growth in the third quarter only reached 2.8%, lower than the 3% recorded in the previous quarter.
The growth figure is lower than expected, making many people believe that the US Federal Reserve (Fed) will consider accelerating the pace of interest rate reduction to further support the economy. The USD is likely to weaken. The cash flow could also ease the decline in the US vote market.
Gold is a commodity that benefits when interest rates decrease. However, 2.8% is still considered a quite positive growth tool. The impact of this information on the USD is not much.
Currently, gold is considered to be able to continue to increase and set new peaks, possibly reaching 2,800 USD/ounce when the US election has many unpredictable things. Tensions in the Middle East are still quite high, while Japan has recently fallen into a political crisis after the country's ruling coalition lost the majority of seats in parliament.
NOVEMBER 2024 OUTLOOKTechnical Analysis
At a local high of $2,736, the gold markets demonstrates a robust upward trend with key technical indicators reflecting bullish momentum. Immediate resistance levels are anticipated near the psychological markers of $2,750 and $2,800. These round numbers often attract significant trading interest and can act as natural resistance levels as traders look to lock in profits. If we manage to surpass these levels, the next possible resistance zone may be around $2,850, where the market might encounter another wave of selling interest.
On the support side, the nearest level is around $2,700, which could serve as a safety net if the price experiences a short-term pullback. Should gold dip further, the $2,650 level may offer additional support, aligning with zones where buyers have historically shown interest. This current uptrend is further confirmed by the positioning of the 50-day and 200-day moving averages, both well below the current price. The 50-day MA, likely near $2,600, serves as a dynamic support level in the short term, while the 200-day MA around $2,500 supports the long-term bullish structure.
Indicators reinforce this trend, with the RSI likely approaching or exceeding 70, suggesting that the asset may be in overbought territory. This level indicates a strong bullish presence but also warns of potential profit-taking or consolidation in the near term. Meanwhile, the MACD remains positive, confirming strong upward momentum. However, declining histogram bars could hint at slowing momentum, signaling that the asset might enter a consolidation phase before deciding on its next direction.
Fundamental Analysis
The current elevated price level of gold reflects ongoing concerns around inflation, global economic stability, and demand for safe-haven assets. Inflation remains a driving force in the gold market, as investors often turn to gold as a hedge against rising prices, preserving purchasing power during inflationary periods. Should inflationary pressures persist, they are likely to sustain demand for gold, supporting its price at higher levels. Additionally, central bank policies play a crucial role in influencing gold prices. If the Federal Reserve or other major central banks signal a more dovish stance—such as a pause or reduction in interest rate hikes—gold could attract even more buyers, as lower rates tend to reduce the opportunity cost of holding non-yielding assets like gold.
Global market instability is another significant factor, with geopolitical tensions and slowing economic growth driving investors toward safer assets. With concerns over potential economic downturns, gold becomes more attractive as a reliable store of value. Currency dynamics, particularly the strength of the US dollar, also play a pivotal role. Gold prices and the dollar generally have an inverse relationship; thus, any weakness in the dollar can support gold’s upward trajectory. As the dollar faces potential depreciation amidst global uncertainties, this relationship could further bolster the gold markets.
Finally, seasonal trends also come into play. Historically, November can see increased volatility in gold as markets adjust positions ahead of the year-end. Demand for safe-haven assets often rises during this period, providing additional support for gold prices. This combination of inflation concerns, central bank policy shifts, economic uncertainties, and seasonal influences is likely to maintain high demand for gold through November, with room for additional gains if these factors persist.
Long Term Projections
Bullish Scenario: If XAU/USD maintains support above $2,700 and demand remains strong, a push toward $2,850 and possibly $2,900 could occur, particularly if global uncertainty rises or inflation expectations grow.
Bearish Scenario: If the price falls below $2,700, a pullback toward $2,650 or even $2,600 could ensue. Bearish momentum may pick up if the dollar strengthens unexpectedly or if economic stability improves.
Consolidation: Given the high RSI, consolidation between $2,700 and $2,750 may occur if traders take profits and wait for new catalysts before pushing prices higher.
