could this mean anything rejection and measured moves down could this mean anything a measured downward moves after the rejection below the treandlin on the monthly chart on Goldby frank_awusa110
Gold soon regained its rising position (week 24 gold analysis)💥Gold reacted strongly at 2360 and could not overcome the old resistance level to break back to 2400. Gold has formed a double top pattern on the 4th hour frame. 💥After returning below 233x, important support levels 2317-2310 -2305 will be believed by investors to push gold prices back up. 💥The price is retracing relatively far from MA 34 and MA 89, so the downtrend can maintain for the first few days of the week before gold bounces back strongly at the end of next week. 💥When the gold price drops, we will BUY at the support points listed above. new stop loss of 50 pips for each signal. possible profit level according to RR11 ratio. When the price reaches the 2310 or 2301 area, we can consider making long-term BUY signals. 💥If you check back at the levels we have shared weekly over time, you can see how effectively they are used to trade with or against short/medium term fluctuations and trends . Resistance 2360-2400 Support 2317-2310-2305by TVS-Trader7
Gold & ETH - Who Follows Whom?Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. I always keep an eye on Gold to gauge the overall market sentiment. 📚 I found the latest correlation between Gold and ETH interesting ! You know what? I will keep this post short, as the picture is self-explanatory ! The question is... Who follows whom? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richby TheSignalyst5
Trust me, this analysis will help you!XAUUSD CHART UPDATE (GOLD): I expected gold to form an "M" PATTERN which it has continue to form. i currently expect price to drop to the completion of the leg or the final leg of the "M" pattern, after which i will also be expecting price to move up to the neckline @ 2,288 before the bullish continuation to 2,443.97 which is our all time high.🔥by Best-economistUpdated 8
XAUUSD week 1 June 2024 US economy going down? 1. US Q1 GDP was revised down due to weak consumer spending. 3. Israel will not end the conflict to reach an agreement to release all hostages. 4. OPEC+ is working on a complex production cut agreement for the period 2024-2025. 5. US April pending home sales suffered the largest decline in three years. With important information last week we see - The US economy is under strong pressure from the Fed's tightening monetary policy. - Besides, OPEC cutting oil production will push oil prices up and when oil prices increase, gold also increases. - The continued escalation of the Israeli conflict will push gold prices higher. Looking at H4 we see - After news of PCE, gold price increased sharply then decreased, completely negating the previous increase and breaking 2323 stone. - The 2323 price range was broken, invalidating our previous wave counting process with the expectation that the correction had ended. So with the 2323 price range being broken, the correction process is still continuing. - So it is possible that the price will continue to complete the target of wave 5 at the price range 2317 and 2311. - We have the 2465 zone which confirms wave 5 has completed when the price surpasses this zone - Next week we will wait for the price reaction in these areas to conduct buying transactions. Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.Longby DEEKOP5
GOLD continuing downtrendOANDA:XAUUSD reached a peak of $2,450 in May but has since fallen over 4%. This shift indicates a change in investor sentiment, with bullish investors likely seeking other opportunities. The weakness in gold may persist due to factors like inflation and the US central bank's restrictive stance. Traders watching short positions should pay attention to the $2,335 support zone. This area combines important technical indicators, such as a key trendline and the 38.2% Fibonacci retracement of the March-May rally. If the price decisively falls below $2,335 with above-average trading volume, it would be a strong selling signal. If the price drops below $2,335, the next important level to watch is the 50-day simple moving average at $2,325. Breaking this support could lead to a further decline, with potential downside targets around $2,265, which is a critical Fibonacci level near this month's lowest point. If bulls regain control and prices rise, resistance at $2,365 and $2,377 may pose a challenge. However, surpassing this level could change bearish sentiment and potentially lead to a rally towards $2,420. Further strength could even bring the all-time high back into play.by Xayah_tradingUpdated 11
Plans GOLD for the first week of JuneThis week gold will revolve around 2 price zones 2360 - 2300 SELL zone 2360 - 2362 SL 50pips TP 100-200-300pips BUY zone 2305 - 2032 SL 50pips TP 100-200-300pipsShortby Winlouh7
GOLD Weekly Outlook Technical Analysis of Gold In our previous analysis, we identified a resistance level at $2,358 for gold. The price reached this level but subsequently dropped, continuing its bearish trend. Current Week Outlook This week, gold is expected to consolidate between $2,320 and $2,342 before breaking out in either direction. Bearish Scenario: If the price remains below $2,320, confirmed by a 4-hour candle close, it will likely continue its bearish trend toward $2,302. A break below $2,302 could initiate a further decline toward $2,273. Bullish Scenario: For a bullish trend to emerge, the price needs to stabilize above $2,357. This could propel it towards $2,378, and a break above this level would target $2,397. Key Levels: Pivot Price: $2,320 Resistance Levels: $2,342, $2,357, $2,378 Support Levels: $2,302, $2,286, $2,274 Anticipated Trading Range This week, the anticipated trading range is between the support level at $2,257 and the resistance level at $2,273. Impact of Upcoming Economic News The gold market is expected to be strongly influenced by key economic reports this week: Monday: ISM Manufacturing Index Tuesday: Job Openings and Labor Turnover Survey (JOLTs) Wednesday: ADP Employment Report Thursday: ECB Interest Rate Decision (June) Friday: Unemployment Rate (May) and Non-Farm Employment Report (May) These reports could cause significant volatility in the gold market, impacting the price movements throughout the week.by SroshMayi5
Maybe you could use this analysis and advice!Hello, guys Gold didn't close the month with red candle. There is still potential for rising. But it needs to touch the broken resistance around 2160. I will still expect falling wedge (triple top) formation on weekly for month of June, if next week close at green bar. Expect falling then rising for Gold next week. Do you thinkby Frederic-FUpdated 5
XAUUSDHello traders. If you find this analysis useful, please support me with your likes and comments. If you have another analysis at this pair, please share in comments, I will be glad to discuss with you. Happy trading!Shortby chachava_natalia4
HelenP. I Gold can break trend line and continue fall to $2290Hi folks today I'm prepared for you Gold analytics. A not long time ago price little declined and then made impulse up higher than the resistance level, which coincided with the resistance zone, but soon turned around and declined below this level, making a fake breakout. Then Gold reached the 2400 resistance level again, but at once rebounded and fell to the support zone, which coincided with the 2310 support level, and then rebounded and tried to grow. Price failed and in a short time declined lower the 2310 level, breaking it and later even reaching the trend line, after which rebounded up and broke the 2310 support level one more time. The Gold made a strong impulse up, an even higher resistance level to 2450 points, but soon turned around and started to decline. In a short time price fell to the trend line, thereby breaking the 2400 level again and now it continues to trades near this line. For my mind, XAUUSD will make a small move up and then rebound down to 2290 points, thereby breaking the trend line and also the support level. If you like my analytics you may support me with your like/comment ❤️Shortby FirstNameHelen116
Mastering Bullish & Bearish Crab Patterns - Entry, SL & TPs LevlHarmonic patterns are integral to technical analysis in financial markets, and the Crab pattern is one of the most distinct among them. Both bullish and bearish Crab patterns provide precise trading opportunities by indicating potential reversal points in the market. This article delves into the structure, identification, and trading strategies for both bearish and bullish Crab patterns. ____________________Bullish Crab Pattern_________________________ Structure and Identification: A Bullish Crab pattern is a reversal pattern that signals a potential bullish reversal at the end of a bearish trend. It consists of five points labeled X, A, B, C, and D, forming distinct Fibonacci retracement and extension levels: XA: The initial move from X to A. AB: Retracement from XA, typically 38.2% to 61.8% of XA. BC: Retracement from AB, typically 38.2% to 88.6% of AB. CD: Extension of XA, typically reaching 161.8% to 224% of XA, and is the longest leg. Entry, Stop Loss, and Take Profit Levels: Entry: Place a buy order at point D, where the CD leg completes the 161.8% to 224% Fibonacci extension of XA. Stop Loss: Set just below point D to safeguard against potential false breakouts. Take Profit: Use multiple levels: TP1: 38.2% retracement of the CD leg. TP2: 61.8% retracement of the CD leg. TP3: Point C level. _____________________Bearish Crab Pattern_________________________ Structure and Identification: A Bearish Crab pattern signals a potential bearish reversal at the end of a bullish trend. It mirrors the Bullish Crab pattern with the same Fibonacci retracement and extension levels but in reverse: XA: The initial move from X to A. AB: Retracement from XA, typically 38.2% to 61.8% of XA. BC: Retracement from AB, typically 38.2% to 88.6% of AB. CD: Extension of XA, typically reaching 161.8% to 224% of XA, and is the longest leg. Entry, Stop Loss, and Take Profit Levels: Entry: Place a sell order at point D, where the CD leg completes the 161.8% to 224% Fibonacci extension of XA. Stop Loss: Set just above point D to protect against potential false breakouts. Take Profit: Use multiple levels: TP1: 38.2% retracement of the CD leg. TP2: 61.8% retracement of the CD leg. TP3: Point C level. Conclusion: Crab harmonic patterns, whether bearish or bullish, provide traders with high-probability reversal signals by leveraging precise Fibonacci retracement and extension levels. Correctly identifying these patterns and setting appropriate entry, stop loss, and take profit levels are crucial for capitalizing on their potential. As with all trading strategies, it's essential to complement harmonic pattern analysis with other technical indicators and sound risk management practices to enhance the chances of success.Educationby trading_jupiter4
Gold: hopes the Fed will cutLast week the price of gold was moving within a relatively short range. The highest-lowest levels were $2.360 and $2.320. The US PCE data showed no difference from current market expectations, in which sense, the market continued to price currently known facts, and it came without too much change in levels from the previous period. Still, concerns over the next Fed`s move on the interest rate side remain the major topic for the majority of financial markets. In line with the short moves on the spot side, the RSI also moved within a relatively low range around level of 50. Still, as of the end of the week it slipped to the level of 46, indicating that the market is probably turning head toward the oversold market side. Moving average of 50 days still continues to strongly diverge from its MA 200 counterpart, not indicating a possibility for a cross anytime soon. Charts continue to be mixed for the second week in a row. Usually, when the market starts to move within such a short range (traders descriptively call it “boring market”) it means that it will soon break toward the one side. In the case of gold it might easily be toward the downside, however, not before some higher levels are tested first. As per current charts, the level of $2.360 might be easily tested for one more time, still, the downside stays open for the week ahead. The level of $2.280 is indicated on the charts, but still, it probably won’t be the level of gold for the week ahead. by XBTFX4
XAU decline back to 2100 dollars1.Okay May's candle just closed and it's a shooting star same as April's candle. This isn't typical especially on the monthly which means we could see further upside, after a correction. 2. Currently the market is in the third leg of the Elliot wave, and we might be going into the 4th corrective wave. Price action below the monthly chart is further proof of this. 3. A retest of $2100 and even $2000 is likely and then A 5th leg past current highs is inevitable. OANDA:XAUUSD Shortby Ratii3
XAGUSD : a cup and handle on the logarithmic monthly chart. The logarithmic chart of XAGUSD with three-month candles highlights a classic "Cup and Handle" formation, which is typically a bullish continuation pattern, indicating a strong likelihood of long-term price appreciation. The cup formation is evident with a rounded base that began in the 1980s, peaking in 2011 near $50. The subsequent correction has formed the rounded part of the cup leading up to the present. The market currently appears to be forming the handle, characterized by a lateral consolidation or slight downward movement before a potential bullish breakout. Support and Resistance Levels - Key Support: Immediate support levels are around $26.75,28$ and $30.47. - Key Resistance: Major resistance levels to watch are around $34, $35.43, $40.28, $44.29 and $47.60. Price Projections Based on the "Cup and Handle" pattern and technical analysis: - Short-Term Projection (1-2 years): After breaking out from the handle, silver could test resistance levels around $40-$45. - Medium-Term Projection (2-5 years): Continued bullish momentum could drive prices towards $60-$70. - Long-Term Projection (5-10 years): Given the historical pattern and fundamental support, silver could potentially reach $150-$300 per ounce, aligning with the upper trajectory shown on the chart. Fundamental Analysis Global Economic Conditions: - Economic Growth and Recession Risks: Silver demand as a safe-haven asset increases during economic instability or recession. Current projections indicate growth for Central Europe, but Western Europe, especially Germany, faces industrial production declines and persistent economic challenges. The global economic outlook remains uncertain, with sub-trend growth in many advanced economies due to restrictive monetary policies aimed at controlling inflation. - Inflation and Monetary Policy: High inflation is a critical factor affecting silver prices. Central banks, including the U.S. Federal Reserve, maintain restrictive monetary policies to combat inflation, influencing commodity prices like silver. As inflation moderates, potential interest rate cuts could positively impact silver prices. Geopolitical Factors: - Geopolitical Tensions: Silver prices respond to geopolitical events, increasing market uncertainty and demand for safe-haven assets. In 2024, potential conflicts and heightened tensions between major economies such as the U.S. and China, and ongoing conflicts in Europe and the Middle East are significant factors. - Trade Wars and Tariffs: Trade tensions and tariffs disrupt global economic stability, influencing silver prices. Significant developments in U.S.-China trade relations or other major economic policies can shift investor sentiment towards commodities like silver. Growing Demand for Silver - Industrial Demand: - Photovoltaic Cells: Silver is a key component in photovoltaic (PV) cells used in solar panels. The demand for silver in this sector has been growing significantly. In 2021, the solar industry consumed approximately 105 million ounces of silver. With the increasing focus on renewable energy, this demand is projected to grow by 8% annually, potentially reaching 140 million ounces by 2030. - Electronics and Automotive Industries: Silver is extensively used in electronics due to its superior conductivity. The automotive industry, particularly with the rise of electric vehicles (EVs), has also increased its silver consumption. The EV market alone is expected to consume around 55 million ounces of silver annually by 2030, up from approximately 45 million ounces in 2020. - Medical Applications: Silver’s antibacterial properties make it valuable in medical applications. The medical sector's demand for silver is projected to grow by 6% annually, driven by increased use in medical devices and coatings. Energy Markets - Correlation with Oil Prices: The correlation between the U.S. dollar and oil prices is notable. As the U.S. becomes a net energy exporter, shifts in oil prices due to geopolitical and policy changes impact broader commodity markets, including silver. Higher energy prices can increase production costs for silver mining, potentially reducing supply and driving prices up. Conclusion The formation of a "Cup and Handle" on the XAGUSD chart indicates significant long-term bullish potential. Supported by robust fundamental factors such as economic uncertainty, persistent inflation, geopolitical tensions, and growing industrial demand, silver could see substantial price appreciation in the coming years. For detailed analysis and regular updates, continue following my posts on TradingView.Longby Neutrinogold4
Oil Down TrendMy first analysis on US Oil. We are in a clear downtrend on the monthly time frame and price continues to make lower lows on the lower tome frames (4HR - 1 W). Short term pullbacks offer selling opportunities. Keep in mind that over the following week we have the following news data: June 3 - June 7: Final Manufacturing PMI ISM Manufacturing PMI JOLTS Job Openings ADP Non-Farm Employment Change ISM Services PMI Unemployment Claims Average Hourly Earnings m/m Non-Farm Employment Change Unemployment Rate Shortby TheForexMessiah4
GOLD Continuation Pattern 1D we seeing gold creating a potential double top formation , now on this timeframe GOLD is now creating a continuation pattern as the market is currently ranging looking for another 4% dropShortby khzacapital2
Upcoming Week - Gold ShortsOver the following week Gold will face a lot of volatility from the following news events: Final Manufacturing PMI ISM Manufacturing PMI JOLTS Job Openings ADP Non-Farm Employment Change ISM Services PMI Unemployment Claims Average Hourly Earnings m/m Non-Farm Employment Change Unemployment Rate DXY has held its ground over the past few weeks despite negative news. International Political Impact: Joe Biden reveals multi step plan to end the Isreal Gaza conflict. (Expect Gold to drop if approved by both parties) - Source: SKY News, BBC News, Financial Times. A challenging week up head guys, good luck!Shortby TheForexMessiah4
When will gold raise again Here's the possible scenarios i see. The bearish continuation: if price gonna keep smashing down hard we might see a retest of the 1 hr FVG above when a drop more down to the round number 2300.00. but if we see bulls snicking in and bears respecting the support level 2321,47 the bulls might take out the liquidity at 2360.08 when drop down to 2300.00 Bullish reversal: i do believe that a lot of traders have a buy limit set on 2300.00 and what do you guys think we see below that ? a lot af stop losses and a bunch of people becoming liquidity before we see the next move up 🚀Shortby Mortenphysique4
Gold H4 Chart Analysis update 📉 Recent Price Action: Last week, we saw the previous week's low being swept, taking sell-side liquidity. For those unfamiliar, sell-side liquidity refers to the stop-loss orders and sell orders accumulated below a previous low. When these are triggered, it provides the liquidity necessary for larger market participants to enter buy positions at lower prices. Given this sweep, we anticipate a pullback into the 2352-2364 region before continuing the downward movement. See chart for more information on technical Analysis doneShortby Mike_SnD3
XAU/USD Forecast GOLD FORECAST FROM 3 JUNE 2024 TO 7 JUNE 2024 XAU/USD changed into bearish as we see last time it dropped badly because buyers are taking their profits so we see a big drop of almost 1300 pips. Now at this point we can see a red folder week so we have to be careful for long term trade in this situation we should do scalping. Let's come to the point as you see market sweep low second time and failed to close candle below daily previous candle. Whenever market start sweeping one side it can reverse so first market go upside and out all sellers then go down in a single leg to kickout buyers. Market sweep the PDL PWL and also H1 H4 low it indicates that market want to go up. We can expect buy from 2324 to 2322 till 2338 40 and expect drop from 2339 45 if close H1 candle above 2346 then we can again see the upside move till 2370 74 so after this move our first sell from 2370 74 and second sell position will be 2378 82 we will target first monthly FVG 2373 70 this is the position if market start going upside from current price if drop from first point 2338 40 the we well sell from every retracement. Conclusion : We will sell on every retracement until Gold tap in monthly FVGShortby TheICTGuy3
Gold Trading Plan Weekly 6/1/2024Gold didn't close the month with red candle. There is still potential for rising. But it needs to touch the broken resistance around 2160. I will still expect falling wedge (triple top) formation on weekly for month of June, if next week close at green bar. Expect falling then rising for Gold next week. Longby SteadyFund3
CRUDE OIL (WTI): Your Trading Plan For Next Week WTI Crude Oil is trading in a bearish trend on a daily. For the entire month of May, the market is consolidating within a horizontal range. I believe that a bearish trend will continue after a violation of the support of the range. I am waiting for its breakout to sell the market. A daily candle close below 75.5 will confirm a violation. A bearish wave will be anticipated at least to 72.5 level then. ❤️Please, support my work with like, thank you!❤️ Shortby VasilyTrader1110