GOLD 14-11-2024 BREAK DOWNGold in bearish trend so we trade plan only counter trade we will buy after closing candle 15 min above resistance and target is 40 to 60 pipes only.
XAUUSDK trade ideas
XAUUSDHello traders, we now have two XAUUSD EW setups in play for next week.
1) Bullish Setup : Where the ABC wave is complete and 1-2 for an up move is in progress
2) Bearish Setup: Wave 1-2 & 3-4 has completed and 5 wave is in progress.
If we see any bounce from the 2668 levels we can then assume the bullish structure is valid and if selling pressure is more then the bearish EW count will be applicable.
Trade with confirmations and Trade Safe!
Let me know what you think?
GOLD: Retracement in ProgressGold already completed her wave (III) and is now moving toward wave (IV).
As we may see, the wave (II) is a simple correction wave, we may expect the wave (IV) will be a complex retracement, which is WXY, perhaps 5-3-5 waves, but it's too early to say that. Anyway, that is just my 2-cent opinion.
XAUUSD - 14 Nov Swing / Day TradeKey Event : PPI Mom
I dont think this event will move the market much.
Gold is on the downtrend. Market pressure with the US dollar moving higher, gold is a non yield instrument, will be facing downward pressure.
Review of yesterday.
Day Trade, hit TP (1.4 RR)
Today outlook
DZ at 2558 - 2550, will be key if this break, we are looking at 2500.
Supply Zone : 2665.18 (4H) / 2619.34 (1H) / 2594 (1H)
Demand Zone : 2558.8 (Daily)
Support & Resistance zone :
1. 2652
2. 2589
3. 2487
Forecast (Swing Setup)
Asia sell down session.
London session -> NY Session
Scenario 1:
Retract to SZ (1H) 2594 , and go back down to DZ.
Potential (1:4.41 RR)
Scenario 2 (this is from yesterday):
if it breaks the trend line it will go up to the Supply Zone of 4H
Potential (1:9 RR)
Scenario 3:
Breaks Trend Line it will go up to 2618 to retest, I am still bearish. Will go back down to 2514.
Potential (1: 11 RR)
Day Setup
Entry : Fib 0.618 - 2594.28
SL : 2618.5
TP: 2554.77
1:2.39 (RR)
NEW IDEA FOR GOLD By examining the trend in the four-hour time frame, gold can increase to the resistance of $2,676, provided that it maintains the important support interval in the range of 2,579-2,601.
Gold 1H Intra-Day Chart 07.11.2024Currently witnessing a pullback on Gold to the upside.
If we see price push a little higher towards $2,689 - $2,711, followed by a slow down in bullish momentum then I'll look to enter another sell position on Gold📉
Gold resistance support point market analysis.Gold continued to close with a weak short position, and the daily line fell sharply. Today, gold rebounded and continued to short. There is still room and demand for further decline. The price fell to the trend line of 2556. Pay attention to the top and bottom conversion position of 2530 below.
Gold's 1-hour moving average continued to cross and diverge downward. The decline of gold has not ended. The last low of gold near 2590 has now turned into resistance. Gold rebounded to below 2590 and continued to go short at highs; near 2580, you can enter the market to short.
First support: 2555, second support: 2542, third support: 2530
First resistance: 2570, second resistance: 2580, third resistance: 2591
Trading strategy:
BUY: 2551-2553
SELL: 2580-2582
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
GOLD WILL GO DOWN AGAIN hello guys welcome to the new week lets srart analysis . the price perfectly moved according my last analysis with more than +500 pips profit.
gold broke uptrend and fixed below that and moved in a descending channel .
now price is below ma200 and is moving in a range area
Support and Resistance Levels: The current price is close to the resistance level of 2707.56, which is a key level. If it can break above and hold, there’s a higher chance of an upward movement. But if it fails to break this resistance, the price might head back down toward the support level at 2668.58
07 Nov - Retest and sellI believe price will retest the 2700 level and drop back down to 2638 and 2615
Bullish for Gold Gold have chances to bounce back from this level.2600 is very strong level for support so im looking buy from here My trades are open from 2600 area my tp1 is 2630 and tp2 is 2660.
XAUUSD: Buyers Dominate!Dear traders!
Today, gold prices have made an impressive recovery, rising more than $48.4 to $2,708.8/ounce, marking a strong move with an increase of more than 1%. This recovery is reinforced by the weakness of the US dollar, along with the news that the Federal Reserve is expected to cut interest rates by 0.25% this Thursday. Although future interest rate cuts may face challenges if former President Trump returns, this trend opens up many positive opportunities for gold in the short term.
As seen from the 1-hour chart, the uptrend is forming and is being consolidated after the correction. In addition, the current gold price is reacting at the support zone of the two EMAs (34 and 89), creating a notable area. Therefore, Victor personally appreciates that based on the current momentum, if the price breaks the short-term resistance level near $2,710, the possibility of gold prices continuing to increase to higher levels in the coming time is high.
At the time of writing, the realization phase is forming, Victor is waiting for confirmation with the aim of strengthening further.
XAU ! 11/14 ! still a strong decreaseXAU / USD trend forecast November 14, 2024
The US Dollar gained strongly as markets had largely anticipated a 25-basis-point hike by the Federal Reserve at its December meeting. CME FedWatch Tool data shows the odds have increased from 58% to 82%. The DXY index, which measures the Dollar’s strength against major currencies, reached a year-to-date high of 106.52, just above the previous high of 106.51 from April 16, and is currently around 106.49, up 0.50%.
yesterday's sharp drop - continues to make investors believe prices will fall further: 2500
/// SELL XAU : zone 2574-2577
SL: 2580
TP: 50 - 100 - 150pips (2561)
/// SELL XAU : zone 2590-2593
SL: 2598
TP: 50 - 200 - 300pips (2563)
Safe and profitable trading
XAUUSDGold is in a strong downtrend. after a correction for the pas few trading days, a consolidation, breach and going back to the zone, I am guessing the trend is going to keep continuing from the blue zone.
THIS WEEK GOLD (XAUUSD) TRADE POSITIONPAIR : GOLD
✔ Classic BULLISH formation
GOLD is holding continuous UP Trend. Gold COMPLETED the CURRECTION MOVEMENT fb ABCd or 1 2 3 web. IMPULES MOVE ARE RUN.... We observe our setup zone If retraces first & BULL RUN then the market can go fly to 2696, 2715 & 2760 from 2658 . So I can take BUY entry our suitable Demand ZONE when the market bull run . If your analysis matches it take a trade otherwise skip the trade.
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Strong buying area 2609Gold will be bullish after crossing level of 2609
Use SL as per your strategy
Note: This is not a buy/sell call.
Target Long ....for nowA head and shoulders formation on 4h+ and daily chart unfolds. Strategy to go long up to 2680 and then down back to 2510
Gold 1 hour chart key levels with both buy and sell entriesGold 1 hour chart key levels with both buy and sell entries
For a buy look to enter at
2691 expecting
2696 to 2704
2710 which will be high resistance but if broke then
2720
2732
2740
2750
2765
2785
2800
2804
2820
On the downside ill look for a sell at
2678 expecting
2674
2664 to 2662 which will be resistance
2650
2640 high resistance
2628
2618 high resistance
2602
2580
2550
2540
As always trade safe use proper risk management
Check put my other trade ideas including a Gold swing and GBPUSD sell opportunity
XAUUSD - 13 Nov 2024 - Swing / Day TradeKey Event : US CPI
Red Folder news.
If its break down from 2588.96, we may see 2500 today.
If not it will be within the range of 2700 to 2588.
Supply Zone : 2665.18 (4H) / 2619.34 (1H)
Demand Zone : 2558.8 (Daily)
Support & Resistance zone :
1. 2703
2. 2652
3. 2589
Forecast (Swing Setup)
Asia will be a quiet session.
London session -> NY Session
Scenario 1:
Retract to SZ (1H), and go back down to DZ.
Potential (1:7 RR)
Scenario 2:
if it breaks the trend line it will go up to the Supply Zone of 4H
Potential (1:9 RR)
Day Setup
Entry : Fib 0.618 - 2612.26
SL : 2626.72
TP: 2590.5
1:1.4 (RR)
XAUUSD Daily Analysis: Key Levels to Watch for Potential ReboundThe analysis for the XAUUSD chart on the 1D (daily) timeframe shows that the price of gold is currently moving within a stable upward channel, marked by parallel blue lines forming the channel’s support and resistance. The price action indicates a strong bullish trend throughout 2024, with significant upward pressure.
Currently, the price has retraced from the recent highs, approaching the monthly pivot area (Coptah Monthly P) around 2,703.178 USD. If this support holds, there is potential for a rebound toward the next resistance levels, which are Coptah Monthly R1 at 2,801.968 USD and Coptah Monthly R2 at 2,888.958 USD.
However, if the price breaks below the pivot area, the next major support is at Coptah Monthly S1 at 2,616.186 USD. A further decline could push the price down to 2,576.725 USD, which is a critical zone to watch for either a potential reversal or a continuation of the bearish trend.
This analysis highlights the importance of monitoring the price reaction at these key levels to determine the next possible direction, either as buying opportunities at support or confirming a bearish outlook if the major support levels are breached.
GOLD - Potential Downside Revealed
Gold has recently completed 5th wave and now nearing completion of correction wave A. Due to Trump coming in power, FED with restrictive rate cuts and end of year profit taking, we may see Dollar continuing Bull run to higher levels. Also, it is noted that we may see a Ceasefire in Lebanon and Gaza which could also impact Gold’s Bull run.
Therefore, we can expect further retracements from Wave B to C. This can also turn into a deeper correction to lower levels highlighted. Therefore, please reduce position size as it moves to higher risk levels.
The "Risk !" label indicates zones where price retracement is possible. The higher the risk level (e.g., Risk !!!), the greater the likelihood of a potential retracement.
For entries, please wait for at least two candle rejections at the specified level and apply appropriate risk management.
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Disclaimer: This content is for educational purposes only and should not be considered financial advice.
Can the bulls hold this level?Gold has been selling off for 12 days straight and has now retested September high, which is a critical support level. At this level it looks like the bears may be losing momentum and we may see a relief rally back to 2640 levels as the RSI just confirmed a bullish divergence on the 4H timeframe. Failure to hold this level could lead to further selloff to stronger support levels at around 2530 and 2475
Gold remains around $2,675-$2,670 due to a stronger USD.Gold (XAU/USD) stays around $2,672-$2,670 as trading opens in Europe on Monday, continuing its recent downtrend from the October 31 record high. The USD remains slightly below last week's 4-month peak, driven by optimism over Trump’s economic policies, which are pressuring gold for the second consecutive day.
Investors expect Trump’s policies to boost growth and inflation while limiting strong Fed easing, keeping US Treasury yields high and pushing funds away from non-yielding gold. However, a mild risk sentiment may support gold as traders await US inflation data and Fed Chair Powell’s speech later this week.
Personal opinion:
A sell-off below last week's low around $2,643 could trigger further downside, potentially pushing gold towards the October range low at $2,605-$2,602. However, a rebound above $2,700 faces strong resistance near $2,718 and the $2,740-$2,745 zone. A break above these levels could signal the end of the correction and push gold towards $2,750 and the $2,758-$2,790 range, or even the record high from October 31.
Pay attention to the price range:
Buy Zone: 2656 - 2654
SL: 2649
Buy Zone: 2666 - 2664
SL: 2659
Sell Zone: 2687 - 2689
SL: 2694
