XAUUSD 15-MINUTES TIMEFRAMEKindly remember, Elliott Wave is highly subjective, i will post if there's a new update on my perspective. Trade safe, Everyone! Cheers.Shortby MarioSianipar_Updated 10
Gold Sell PotentialGold is in a price range . Today we have the news of American inflation PCE at 16:00. Due to the conflicting news of Federal Reserve, we cannot predict a specific number for this news. But gold sell seems more logical. After stabilizing the price in the 233.279, we can have a more logical sell position. Due to today's news, we may not realize the sell movement that we have from the market, and the movement that we predict will happen in the next few days or market future hours. Let's see what can happen.Shortby EisaSafariUpdated 2
Gold H4 chart Hello If you ask me, as a swing trader, that where is ok for getting in a position, I say nowhere for this and at this time, but there are 2 confirmations that should be met before you get in. I prefer to enter after that pullback of the second confirmation. Thanks Longby AMA_FXUpdated 4
GOLD (To 2369$) Fed's Inflation Measure Up 0.2% in AprilFed’s Preferred Inflation Measure Rises 0.2% in April, as Expected According to a closely watched measure released Friday by the Federal Reserve, inflation rose as expected in April, with markets anxious about when interest rates might begin to decline. The personal consumption expenditures (PCE) price index, excluding food and energy costs, increased by 0.2% for the period, matching the Dow Jones estimate. On an annual basis, core PCE rose by 2.8%, 0.1 percentage points higher than the estimate. Including the volatile food and energy categories, PCE inflation was 2.7% annually and 0.3% from the previous month. These figures were also in line with forecasts. Technical Analysis of Gold The price has stabilized in the bullish zone, particularly after the PCE result came in at 0.2%. The first bullish targets are 2364 and 2369. After reaching these levels, the price is expected to move between 2369 and 2354 until a breakout occurs. Volatility is expected to remain high until the market closes. Pivot Price: 2347 Resistance Levels: 2369, 2388, 2397 Support Levels: 2327, 2318, 2304 Today's anticipated trading range is between the support level at 2335 and the resistance level at 2397Longby SroshMayi3
Bulls see it as a sell signal Medium-Term Fundamental analysis: Middle East Crisis (Iran and Israel) They run away from every fight (battle, war .. :) , we know this means "Decreasing tensions in the Middle East" Technical analysis: Wave C = 123.6% of Wave A Bulls see it as a sell signal Conclusion: This market needs a correctionShortby BTC-XLMUpdated 555582
Gold Bullish BiasGold Bullish Ride SL and TP levels marked, ENtry at CMP fib level marked, trend continuationLongby Trad3withKamilUpdated 2
XAUUSD Gold short IdeaPersonally, I'm looking bearish for gold until breaks 2347.40 I'm checking short entry now from 2343. My SL will be above 2347.40. My reason to be bearish is 1) Actually i was expecting price to reach 2336.40, if price did reach that point I wouldn't look for a comeback to fulfill 2) Price made a lower low from 2339.71 but didn't make a higher high above 2347.74. That's why maybe bullish is weak. Please trade on your own risk and confirmation. My TP is 2338.40 Shortby Badi_GunnarsUpdated 1
Gold Falling ConfirmOANDA:XAUUSD Gold retreated to the $2,350 area after rising above $2,360 in the early American session. The benchmark 10-year US Treasury bond yield stays in positive territory after upbeat consumer sentiment data from the US and limits XAU/USD rebound.Shortby Senorita71Updated 43
USOIL - Short or Buy? Break down or retracement up?Technicals 1. We have been stuck in a range on a higher time frame for quite some time now. 2. On a higher time frame we failed to confirm a break-up from a trendline dating back to March 2022, which was the COVID-19 highs. A failed break-up of this mega trendline is normally a sign of big reversal or retracement. & we did just that ;-) question is, is this a reversal or just a retracement because I see also a trendline from DEC 2023 which we trade just under. IMO we have not fully confirmed that break down. 3. Visible in my chart we see that we are since then on a big down sloping channel which is still respected. Fundamentals 1. My bias is slightly bearish long term because I think the US economy & other major economies will be in a recession which will give downside pressure on the price of OIL 2. Conflict in the Middle East seems to have not a significant impact as of now on the price of USOIL. Will this change? Till I see major escalation happening I don't see that it will have greater impact than it already has. US also is less energy dependent so therefor geopolitical will impact less. 3. Bullish sign is that OPEC is still holding strong on OIL cuts and China is still strong. Summer season will also give some upside pressure because of demand. Trade 1. The first trade, which is a buy option, I will take if I see buyers really taking over to push price up 2. The second trade, which is a sell, I will take if we confirm a break and retest of the weekly low. Great trading all of you Greetingz, Simba Tradesby Simba_TradingUpdated 335
Should we wait for lower oil prices? In the analysis of the oil chart, the main trend line of the upward movement (blue line) has been broken, and the broken candle is marked with an arrow. It seems that we have to wait for lower prices for oil. Do you agree with my opinion?Shortby hamidreza_FX113
Gold is heading to 2260$ zone(3/31/2024)After reaching the 2450$ zone, xauusd OANDA:XAUUSD faced a huge sell pressure that led the gold price to fall into the 2326 zone sharply. We believe the price has more room to fall more until it reaches the 2250-2260$ zone. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)Shortby fortunamarkets2
#ES_F Day Trading Prep Week 5.28 - 5.31Last Week : Last week Market opened over VAH and spent all week building Supply over it, as discussed in Sunday Prep since we were at ATH with no over hang we needed to wait for Supply to build up for any meaningful back fill of previous areas and that 5341 - 5290 might be our Range where price will want to stay around and keep returning into for some time while it builds that Supply. On Thursday we ended up pushing inside the Edge but failed to find acceptance in it and the push back out gave us the flush of the inventory filling the buyers into the Value, even with how strong the move looked with break/hold under Key Support on Friday Globex failed to hold under it and we found our way back inside 5341 - 5290 Range where we were able to push back into the Means for the Range where we closed the week in VAH. This Week : Few things this week, we have Month End, Settlement changes from T2 to T1 which we don't know just yet how that will impact the trading and we had Holiday yesterday which pushed us over VAH and we are again building up Supply over it. For now we are inside T2 Range which was Thursday I believe the change goes in effect Today or this week, we are right around Previous Days Range and 5341 - 36 already showed us this morning that it's acting properly as good Resistance. So far going into this week Thursdays flush showed us that don't have stronger buyers up here just yet who want to keep paying over Value and keep pushing us into new range above and that even with strong flush we didn't have enough Supply to accept under 5295 - 90 to continue filling more buyers into VAL. This tells me again that market may want to stay in this 5341 - 5290 Intraday Range and balance around it, we have to be ready to spend quite a bit of time in these areas and trade around them until market will show us clear acceptance and intensions of moving Ranges and that can take some time because we are in a Key Spot on higher time frames we are at tops of Daily/Weekly Balances without finding acceptance above and without having the Supply just yet to move under the Middle of those balances which is around the 5290-80s area. Plan is to continue trading 5341 - 5290 Range level to level just like last week with moves out of its 5324.75 - 20.75 // 5310.50 - 06.50 Means and then returns back towards/inside them. Failures to accept over 5341 - 36 will likely find their way back to/under 24.75 - 20.75, pushes under 5310.50 - 06.50 could also be absorbed under and find their way back to/over 10.50 - 06.50 and inside the Means we could balance. We are in lower volume times so also have to give time for the moves to properly set up and be ready to correct back. Levels to watch : Current Range 5341 - 5290.25 5341 - 36 Key Resistance 5324.75 - 20.75 // 5310.50 - 06.50 Means for the Range 5295.50 - 90.25 Key Support If Accept over 5341 - 36 next Range 5386.50 - 5336 5356 - 52 // 5370.50 - 66.50 Means and Edge Top 5386.50 - 81.50 Key Resistance If Accept under 5295.50 - 90.25 lower Range 5295.50 - 5244.75 5279.25 - 75.25 // 5264.75 - 60.75 Means and VAL 5249.75 - 44.75 Key Supportby HollowMnUpdated 1
short to 2292Hi traders would like to share my forecast for XAUUSD Hope you have profitable tradeShortby AziztvtUpdated 8
XAUSD Consolidating or Correction? While Gold is stuck in a consolidation, my bias is basically Bullish unless other data comes in. But it is unclear how the GDP number come out hot, i do see a potential for us to retrace back to 2400 level and correct for the current move. The DXY is very bearish which is a good sign as the DXY usually correlates with Gold, i believe the dollar will look weak as the other countries are considering rate cuts. With uncertainty in the dollar i believe investor will bet against the dollar and Gold will be long. Longby mr_mat_sa1
XAUUSD - Bullish Reversal PatternAs the chart is indicating the double bottom reversal pattern and there is also a divergence.Longby mhamzasaeedm1
Gold 31/5/24 below 2065 can look for shortGold 31/5/24 below 2065 can look for short Rejection below 2065 can look for sellShortby GoldInsightsHub3
Gold 31/5/24 consolidatingGold 31/5/24 consolidating No break above 2364 continue to shortby GoldInsightsHubUpdated 2
Closing my Selling order / #45 Profits rowAs discussed throughout my yesterday's session commentary: "I have closed my Selling order (#2,352.80 - #2,340.80) which delivered fine #12-point Profit, and on a pullback to #2,344.80, throughout the same session, I have re-Sold Gold on #2,344.80 and kept the Selling order with #2,300.80 benchmark Target which is currently running in excellent Profit. I am on #44 Profits and #9 Stop hits regarding October - May cycle." I have closed second Selling order (#2,344.80 - #2,330.80) on a fine #14-point run and coupled with yesterday's #12-point Profit, I have extended my total Profits row on #45 Profits and #9 Stop-loss hits regarding October - May cycle. I will use this chance to congratulate Traders who re-Sold Gold with me, well done! Technical analysis: Gold continues to Trade within healthy Daily chart’s Descending Channel, holding tightly the #2,327.80 - #2,332.80 pressure point as an Support zone (see how it held throughout today’s session on the exact spot, as well holding and untouched in #1-Month base). Assuming that the Selling pattern continues, then the current market sentiment represent an additional solid Selling opportunity towards the #2,300.80 extension (taken from mid-April Annual High’s), as recession sentiment is slowly fading so safe-haven assets such as Gold (which were in High-demand) should suffer as Investors are slowly losing interest which should add strong Buying pressure on Bond Yields and DX (my strongest correlations at the moment). There is however only one Resistance line left towards #2,372.80, which is currently Trading on #2,356.80 configuration (slim chances). I’ve been highlighting the #2,300.80 potential, and I assume with current market overview, Gold may test it within early next week's phase and sole reason why Gold isn't already Trading below it is mixed numbers on DX. After the Higher High’s Lower extension test it is pure speculation where market will be headed next, however my Technical estimates show (according to Weekly chart’s (#1W) historical resemblance / Bear cycle) that correction process on Gold is over and multi-Month Selling sequence will continue towards #2,200.80 benchmark first and #2,152.80 in extension (more Medium to Long-term). My position: As it is Friday's session and as I am more than satisfied with my Trading results, I will not assume more orders for the session and take early weekend break. Shortby goldenBear888
GOLD Rebounds as US Growth Slows: Detailed AnalysisGold experienced a notable rebound on Thursday after the second estimate of US first-quarter GDP growth revealed a downward revision to an annualized 1.3% from the initial estimate of 1.6%. This revision reflects weaker consumer spending, which has important implications for inflation and monetary policy. The slower GDP growth is attributed to a decline in consumer spending, a critical component of economic activity. This deceleration is expected to help contain inflationary pressures, thereby influencing the Federal Reserve's (Fed) policy trajectory. As a result of these developments, market participants now anticipate a more dovish stance from the Fed, potentially leading to lower interest rates in the near future. The impact of the revised GDP figures was immediately felt in the bond markets. The yield on the US 10-year Treasury note, which had reached a four-week peak of 4.63%, retreated to 4.55%. This decline in yields made the US Dollar less attractive, providing support for gold prices. From a technical perspective, our analysis aligns with previous forecasts that anticipated a bullish impulse for gold. The price action is currently finding significant liquidity from key demand areas, suggesting that the market is preparing for a further upward movement. Our initial target remains at $2,400, based on the technical signals and market conditions. The footprint analysis reinforces this outlook. It shows that gold prices are drawing liquidity from the demand zones established in the previous trading sessions. This accumulation of liquidity is a positive sign, indicating that buyers are stepping in at these levels, thus supporting a higher price trajectory. In summary, the combination of weaker-than-expected US GDP growth, reduced consumer spending, and declining Treasury yields has created a favorable environment for gold. The technical indicators also support a bullish outlook, with the price action confirming our expectations of a continued upward trend. Investors should monitor upcoming economic data and Fed communications for further insights into the potential direction of gold prices. Gold Futures H4 Footprint Gold Futures Daily Footprint ChartLongby FOREXN1229
BUY OPPORTUNITY IN GOLD Price currently trade at $2,344. A buy opportunity is envisaged from the Current market price. Target is $2364Longby Cartela1
Gold - UniverseMetta - Analysis#Gold - UniverseMetta - Analysis After the impulse, the price corrected by more than 50%, what can we see in the near future? If we consider a rebound from the level of 2324, we can consider buying from the level of 2355 further along the trend to the ATH update. In this case, sales must be refused. and consider a local movement to the level of 2390. To continue the downward movement, you can consider entering from these values, with a short stop on the idea, beyond the buy entry level with a target of 2280. Target 2390 - 2460by Trade-U-Metta3
VX Paths for PCEI'm bullish on VX for now, but I'm open to a failure. These are.the paths I'd expect. Longby AdvancedPlays1