Get started

Goldsignal

Gold Forming a Double Top Pattern?Last week, Gold( OANDA:XAUUSD ) exhibited sharp movements, both upward and downward, making trading quite challenging. The key question is whether gold will continue its bullish trend. Currently, gold is positioned near a resistance zone($4,231 – $4,215) and is moving close to significant support lines. Last week, gold created a bull trap above the resistance zone($4,231 – $4,215). From an Elliott Wave perspective, it appears that gold has completed wave 5 with an expanding ending diagonal and is now undergoing a pullback towards the lower line of this pattern. Looking at the classic technical analysis on the 4-hour chart, there’s a potential double top formation, and the momentum from the second top is quite strong, suggesting that gold may break through the support lines and confirm the double top pattern. On the other hand, factors like the DXY Index ( TVC:DXY ) and the US 10-Year Government Bond Yield ( TVC:US10 ), which are currently bullish, could exert downward pressure on gold. Considering all these points, I expect that gold will break through the support lines and potentially move down to $4,167. Note: If gold breaks through the support zone($4,185 – $4,133), we can expect further declines. First Target: $4,167 Second Target: $4,127 Stop Loss(SL): $4,247(Worst) Points may shift as the market evolves ------------------------------------------------ We should also keep in mind that several important US economic indicators will be released this week, which could significantly impact market direction. So be extra cautious with your positions, especially during data releases: JOLTS Job Openings➡️09 December Federal Funds Rate➡️10 December FOMC Statement➡️10 December FOMC Press Conference➡️10 December Unemployment Claims➡️11 December ------------------------------------------------ 💡 Please respect each other's opinions and express agreement or disagreement politely. 📌 Gold Analyze (XAUUSD), 4-hour time frame. 🛑 Always set a Stop Loss(SL) for every position you open. ✅ This is just my idea; I’d love to see your thoughts too! 🔥 If you find it helpful, please BOOST this post and share it with your friends.
OANDA:XAUUSDShort
by pejman_zwin
1
What will happen to gold next week?Gold Price Analysis: Gold closed perfectly on Friday. Friday's recommendation was to short gold, which reached a high of around 4259 before falling back to close near 4198, breaking below 4200 again. After breaking out of the triangle consolidation pattern on the hourly chart, gold also broke yesterday's high. The evening's decline makes a pullback next week more anticipated. Next week, we will continue to monitor the support level around 4175-4160, and the resistance level around 4220-4230 (the high of the evening's rebound). The wide-range fluctuation continues, with 4200 acting as a short-term watershed. Trading requires patience; whether buying on dips or selling on rallies, wait for the midpoint and upper trendline. Furthermore, no medium-term opportunities were filled this week; only short-term trades were executed. Gold has entered a small triangle consolidation pattern. This triangle is worth watching, as there are two possibilities: either it forms a pennant consolidation pattern, or it maintains a range-bound or wide-range consolidation. Is a sharp decline possible? Yes, we need to pay attention to the upward trendline and lower our expectations. Gold Technical Analysis: Currently, $4200 is the focal point. The key support level going forward is the $4175-$4160 area, which we've emphasized. A break below this level would trigger a strong downward move. Before that, as we've stressed, there will be repeated rallies. Regarding resistance, the first area is clearly $4220-$4230, which is a short-term minor trendline resistance. The key area to watch is $4255-$4265. In other words, if the price rallies but doesn't break through this level, the downside is expected to continue. In summary, our trading strategy for Monday is to primarily sell on rallies and secondarily buy on dips. The key resistance level to watch in the short term is around $4220-$4230, and the key support level is around $4175-$4160. Please stay tuned.
OANDA:XAUUSDShort
by Daniel_PrimeFX
15
Gold prices fell as expectedfollowing a continuous bearish trendAnalysis of the gold market trend: Gold has no fluctuations today. Gold has failed to rebound in the US market and is still under pressure at 4220. Gold fell as expected. The gold relay continued to win on Friday, and gold won 3 consecutive victories. The market is currently waiting for an interest rate cut. Before the interest rate cut, we will continue to focus on high altitudes. We have also made it clear that we are shorting near 4220, and the highest is near the 4219 line, which is basically consistent with our expectations. Let’s first look at the line near 4170-4160! Gold Technical Analysis: Looking at the 1-hour chart, gold is still in a generally downward trend with weak rebounds. If the rebound in the US session continues to face pressure in the 4200-4220 area, shorting at higher levels is possible. With the Fed's interest rate decision approaching, gold is likely to remain range-bound. The hourly chart shows a sideways movement today, with signs of a breakout. A large bearish candlestick completely engulfed two bullish candlesticks, a bearish engulfing pattern. This is a time-for-space consolidation, and the short-term support around 4180 is unlikely to hold. Continue to watch for support around 4160-4150. In summary, today's trading strategy for gold is to primarily sell on rallies and secondarily buy on dips. The key resistance level to watch in the short term is around 4200-4220, and the key support level is around 4160-4150. Please follow the trend closely.
OANDA:XAUUSDShort
by Daniel_PrimeFX
Gold prices fell as expected, a bearish outlook.Gold Price Trend Analysis: Gold traded in a range on the previous day, closing with a bearish candlestick with upper and lower shadows. Overall, gold continues to fluctuate without a clear directional trend. The market is awaiting the Fed's interest rate decision, and it seems we need to wait for the data to determine the direction. Yesterday's rebound encountered resistance near 4220 and fell as expected. Gold is currently maintaining a slightly weaker, range-bound trend on the daily chart. Short-term moving averages are starting to turn downwards, and the price center is gradually shifting lower, suggesting further downside potential. Short-term support is expected around 4165-4150. Gold Technical Analysis: On the 4-hour chart, the price broke below the short-term support zone, and the candlestick pattern is gradually coming under pressure from the short-term moving averages, maintaining a slightly weak and volatile trend. In the short term, attention should be paid to a second downward move after a slight rebound. The 4-hour chart shows divergence, with the price falling back after failing to break through the 4220 level yesterday. Recently, it has been maintaining a range of 4170-4220, but the highs of this week's rebounds have been gradually decreasing, indicating that the bulls' upward momentum is weak, unlike the previous surge. Currently, it is still maintaining a volatile trend. On the hourly chart, after continuous fluctuations, the technical pattern shows signs of gradual repair. Short-term moving averages are starting to turn upwards, suggesting potential for a short-term rebound. Pay attention to the short-term rebound and repair. Currently, the support level for gold remains at 4165-4150, while the short-term resistance level is around 4210-4220. If it continues to be pressured in the 4210-4220 area, shorting on rallies is still an option. If support is found at 4165-4150, a short-term rebound is possible. In summary, today's trading strategy for gold is to primarily sell on rallies and secondarily buy on dips. The key short-term resistance level to watch is around 4210-4220, and the key short-term support level is around 4165-4150. Please follow the trend closely.
OANDA:XAUUSDShort
by Daniel_PrimeFX
DeGRAM | GOLD will continue to correct📊 Technical Analysis ● XAU/USD is repeatedly rejecting the 4,220–4,240 resistance cluster, forming lower highs near the main resistance line. A breakdown from the rising support line signals weakening bullish momentum. ● The projection shows a clean move toward 4,145 once price loses the green support zone, aligning with the medium-term descending structure. 💡 Fundamental Analysis ● FXStreet notes gold pressure as U.S. labour strength delays rate-cut expectations, supporting bearish continuation. ✨ Summary ● Short bias: resistance holds; targets 4,180 → 4,145. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!
FX:XAUUSDShort
by DeGRAM
1
DeGRAM | GOLD will break the $4215 level📊 Technical Analysis ● Gold continues to respect the ascending channel, repeatedly rebounding from the lower boundary near 4195, confirming active demand at trend support. ● The recent pullback shows deceleration, and structure suggests a rotation back toward 4239 resistance, with potential extension toward 4256 if momentum strengthens. 💡 Fundamental Analysis ● FXStreet reports softer U.S. yields ahead of key inflation data, supporting short-term bullion recovery. ✨ Summary ● Long bias: targeting 4239 → 4256 while price holds above 4195 trend support. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!
OANDA:XAUUSDLong
by DeGRAM
1
DeGRAM | GOLD kept a local ascending structure📊 Technical Analysis ● Gold broke above the descending resistance line and is now consolidating inside the rising channel, signaling renewed bullish momentum. ● The retest of 4206 as support aligns with higher-lows structure, increasing the probability of continuation toward 4239–4256. 💡 Fundamental Analysis ● Softening Treasury yields and renewed Fed-cut expectations keep short-term demand for gold elevated. ✨ Summary ● Bias: Long; key support 4206, targets 4239 → 4256. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!
FX:XAUUSDLong
by DeGRAM
1
WILL GOLD STILL GO SIDEWAYS TODAY? WHAT DO YOU THINK?1. Overview Yesterday's candle formed a Doji → the market is hesitant, not showing a clear main trend. Today, if the candle closes below the support zone → prioritize SELL, If the candle closes above the resistance zone → prioritize BUY. 2. Expected Trend The market is likely to move sideways within the range: 4170 ⇄ 4220 Strategy: Trade according to the zone – follow the breakout of any boundary. 3. BUY ZONES 4180-4175 4155-4160 🔸 SL: 100 pips 🔸 TP: 100 pips 4. SELL ZONES 4217-4220 4230 -4234 4240-4244 4260-4265 🔸 Wait for a clear price reaction in the zone before entering a trade. 5. Important Notes Plan applies before the 22:00 news. Break any zone, then follow that zone. Do not try to catch tops and bottoms.
TVC:GOLD
by Chum_trades
Gold is bullish – another perfect day!Gold Technical Analysis: Looking at the current trend, gold rebounded after testing the lows again today. We are treating it as a range-bound market. We recommended buying around 4185-4170, which was reached multiple times. Gold has now surged as expected, with the next resistance level around 4230-4240 USD. Gold has recently experienced a slight dip, but this doesn't affect the bullish trend; in fact, it could be the start of a bullish rally. Gold prices only rebound after a dip; they won't bounce back from where they are. Therefore, this dip presents an opportunity for the bulls to exert their strength. On the daily chart, the price is still holding above the moving average. Although it closed with a bearish candlestick, the lower shadow indicates a clear nightmare for the bears. It has consistently held above the support line. The previous low was around 4164, followed by a rise to around 4241, and today's pullback to around 4175. Clearly, the lows are continuously rising, and the slope remains upward. We continue to watch the 4230-4240 area!
OANDA:XAUUSDLong
by Daniel_PrimeFX
2
How to properly seize gold trading opportunities?Gold Technical Analysis: Gold rebounded yesterday, finding support near the 5-day moving average, but as expected, it encountered resistance around 4230 and retreated to around 4195. Weaker-than-expected ADP non-farm payroll data caused another rebound to around 4241, but the price subsequently retreated again to around 4195. The daily chart ultimately closed with a bearish doji candlestick with an upper shadow. Reviewing yesterday's price action, although there was a rebound, it failed to break Tuesday's high, indicating market apprehension about Tuesday's bearish candlestick. The positive ADP data only pushed the high to around 4241, suggesting a weakening of bullish momentum. A short-term technical correction is possible. Based on the daily chart structure, the key support level to watch today is the 10-day moving average around 4180-4170, while the resistance level to watch is around 4230-4240. Returning to the hourly chart, gold is currently trending upwards within a range. During the US session, consider a buy-on-dips strategy around the 4180-4170 area. If the previous high of 4230-4240 resistance fails to hold, then consider shorting. Plan your trade, trade your plan. There are no gods in this world; it's just about seeing one step ahead. When you've considered everything that might happen, victory is assured. In summary, today's gold trading strategy is to primarily buy on dips and secondarily sell on rallies. The key resistance level to watch in the short term is around 4230-4240, and the key support level is around 4180-4165. Please keep up with the pace.
OANDA:XAUUSDLong
by Daniel_PrimeFX
Recent Gold Market Dynamics, Analysis, and Strategies!Gold rebounded yesterday, finding support around the 5-day moving average, but as expected, it encountered resistance near 4230 and retreated to around 4195. Influenced by the anticipated ADP non-farm payroll data, the price rebounded again to around 4241, but subsequently retreated back to around 4195. The daily chart ultimately closed with a bearish doji candlestick with an upper shadow. Reviewing yesterday's price action, although there was a rebound, it failed to break Tuesday's high, indicating market apprehension about Tuesday's bearish candlestick. Even the positive ADP data only pushed the high to around 4241, suggesting a weakening of bullish momentum. A technical correction is possible in the short term. Based on the daily chart structure, the key support level to watch today is the 10-day moving average around 4170, while the resistance level to watch remains around 4230-4240. Based on the hourly chart, gold may trade sideways today. There is short-term trendline resistance above, which coincides with the upper limit of the range around 4230-4240. Therefore, the 4230-4240 area can be considered a key resistance level today. On the downside, pay attention to the short-term support area around 4180-4170. If the intraday structure shifts downward, there is still a possibility of going back to around 4150. In terms of trading strategy, gold is expected to remain range-bound today, maintaining a strategy of buying low and selling high within the 4240-4170 range. Avoid overly extended directional expectations; first observe the range, then look for a breakout. Watch for resistance around 4230-4240; a rebound failing to break this level would be a good entry point for short-term short positions. On the downside, watch for support around 4180-4170; a pullback and stabilization would present an opportunity to buy on dips.
OANDA:XAUUSDShort
by Daniel_PrimeFX
Perfectly captured the intraday gold price trend!Gold Technical Analysis: Gold's volatility today was smaller than expected. It opened near 4200, rebounded, weakened and pulled back after approaching 4230, then rebounded again near 4194. The overall range was less than $50. Recent gold price movements have been volatile, mainly due to the approaching Fed rate cut, market volatility from economic data and official speeches, leading to poor continuity in gold's price action. However, any significant pullbacks have been followed by rapid rebounds. Furthermore, the rising expectation of a rate cut continues to provide support for gold. Therefore, we have been sharing a buy-on-dips strategy recently, and today's opportunities for both long and short positions were accurately captured. Those who are currently out of the market can continue to enter long positions on pullbacks. On the hourly chart, gold's current trend is one of upward oscillation. During the US session, consider a buy-on-dips strategy around 4200-4180. If the previous high of 4250-4260 resistance fails to hold, then consider shorting. Plan your trade, trade your plan. There are no gods in this world; it's just a matter of seeing one step ahead. In summary, today's gold trading strategy is to primarily buy on dips and secondarily sell on rallies. The key resistance level to watch in the short term is around 4250-4260, and the key support level is around 4200-4180. Please keep up with the pace.
OANDA:XAUUSDLong
by Daniel_PrimeFX
Gold Breakout Confirmed — New Cycle Targets Ahead(ATH Possible)Today, I analyze Gold( OANDA:XAUUSD ) on the 4-hour timeframe, building on the previous idea shared. The scenario remains unchanged. In this analysis, I take a cyclical approach to gold on the 4-hour chart. It appears that gold is completing three similar cycles. For the third cycle to be completed, gold needs to increase. Another point is that gold previously formed a bull trap when it tested the Resistance zone/Support zone($4,186– $4,133), but now it has successfully confirmed a breakout above that zone. This suggests that the bull trap is no longer a concern, and gold is likely resuming its uptrend. Additionally, gold could form a bullish channel, but we currently have only one confirmed top and are waiting for a second top to validate the channel. Moreover, today we’ll see the release of two important U.S. economic indicators, which can significantly impact gold’s movement, especially if the actual figures deviate significantly from expectations: ADP Non-Farm Employment Change ISM Services PMI Considering all of the above, we can set an initial target of around $4,267 for gold. If the cycle completes fully, gold might even reach a Potential Reversal Zone(PRZ) and possibly set a new All-Time High(ATH). Finally, geopolitical tensions, like those between the U.S. and Venezuela, often lead to higher gold prices since gold is considered a safe haven. First Target: $4,267 Second Target: Potential Reversal Zone(PRZ) Stop Loss(SL): $4,147 💡 Please respect each other's opinions and express agreement or disagreement politely. 📌 Gold Analyze (XAUUSD), 4-hour time frame. 🛑 Always set a Stop Loss(SL) for every position you open. ✅ This is just my idea; I’d love to see your thoughts too! 🔥 If you find it helpful, please BOOST this post and share it with your friends.
OANDA:XAUUSDLong
by pejman_zwin
16
Gold Breakout + Wave Structure = New Targets LoadingGold( OANDA:XAUUSD ) has successfully broken through the Resistance zone($4,205 – $4,133) at the start of this new week, and over the past ten trading days, it seems to have formed an ascending channel. From an Elliott Wave perspective, it looks like gold has completed wave 3 and is currently in the process of completing wave 4. I expect that after a pullback toward the Resistance zone($4,205 – $4,133)—aligning with the lower line of the ascending channel and the support lines—gold will resume its upward movement and once again target the Resistance zone($4,316 – $4,261). First Target: $4,266 Second Target: $4,294 Stop Loss(SL): $4,151 Note: Geopolitical tensions—especially the possibility of a direct confrontation between Venezuela and the U.S.—tend to push investors toward safe-haven assets, and gold historically reacts with strong upward momentum during such uncertainty. If this conflict escalates, increased risk aversion and volatility across global markets could support a bullish continuation in gold as capital shifts away from risk assets 💡 Please respect each other's opinions and express agreement or disagreement politely. 📌 Gold Analyze (XAUUSD), 1-hour time frame. 🛑 Always set a Stop Loss(SL) for every position you open. ✅ This is just my idea; I’d love to see your thoughts too! 🔥 If you find it helpful, please BOOST this post and share it with your friends.
OANDA:XAUUSDLong
by pejman_zwin
22
DeGRAM | GOLD is correcting from the resistance line📊 Technical Analysis ● XAU/USD rejected the upper resistance line three times, forming a clear bearish reaction near 4250. Price is losing momentum and sliding back toward the mid-range support after failing to sustain highs. ● Repeated consolidations along the rising support line show weakening bullish pressure, increasing the probability of a corrective drop toward 4150–4100. 💡 Fundamental Analysis ● Gold softens as U.S. yields rebound and Fed officials signal that policy easing is not imminent, limiting upside appetite. ✨ Summary ● Bearish bias below 4250. Targets: 4150 → 4100. Resistance: 4250. Support: 4150 / 4100. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!
OANDA:XAUUSDShort
by DeGRAM
2
We perfectly capitalized on multiple bottoming out and rebounds!Yesterday, the bulls tested the bottom and rebounded, reaching a low of around 4163 in the US session before rebounding to a high of around 4229, approaching yesterday's high of 4235. Although it is currently undergoing a slight pullback correction, the overall trend is relatively bullish, and there is a possibility of further upward breakout after a period of consolidation. The support level below is currently around the psychological level of 4200, which may be breached. However, given the current situation, the possibility of a continuous decline is relatively small. After all, in a continuous upward trend, yesterday's single bearish candle will serve as an important indicator of bullish correction. The key support level below remains around 4190-4180, which is crucial for the subsequent bullish or bearish trend. If the price continues to consolidate above 4200 during the European session, you could consider taking a small long position if conditions permit. The key resistance level remains around yesterday's high of 4235. If this level is broken, the price may continue to rise. However, for those seeking a more conservative approach, it is advisable to wait for a pullback before taking long positions. If the price pulls back to the 4200-4180 range during the day, consider taking long positions in batches.
OANDA:XAUUSDLong
by Daniel_PrimeFX
Gold rallies again after a V-shaped recovery.Gold has once again exhibited a typical bottoming-out rebound pattern. After dipping to a low of around 4181 during the day, it quickly stabilized and rebounded. Currently, gold has successfully regained its footing above 4200, and the bullish structure remains intact. We accurately placed long orders around 4182, and as expected, successfully took profits above 4200. Once again, we grasped the rhythm, and our trading strategy remains clear: if a pullback doesn't break through, we will continue to focus on buying on dips. This is not blindly chasing the rise, but rather based on the current international environment, which continues to favor gold prices, coupled with the constantly strengthening bullish technical structure. Following the trend is our core trading logic. From a 4-hour chart perspective, the key resistance level to watch is around 4250-60, a crucial resistance zone that the bulls must break through. On the downside, the key support level is around 4180-4170, a core support level in this current structure. As long as this level holds, the bullish momentum will remain unchanged, and the overall trend will continue its upward movement within a range. The more thorough the pullback, the clearer the opportunities. We will continue to patiently wait for key levels, execute our plan, avoid chasing rallies, and refrain from impulsive actions. If you've been experiencing chaotic trading lately, struggling to determine the direction, and frequently getting caught in market fluctuations, feel free to discuss it with me. Perhaps what you lack isn't luck, but a sound trading strategy. I will provide timely updates on specific entry points and strategies at the bottom; just stay tuned.
OANDA:XAUUSDLong
by Daniel_PrimeFX
The bulls are correcting before continuing their upward surge!Gold opened lower but rebounded, quickly stabilizing around 4192. Bulls launched a counterattack from the lows, reaching a high of around 4226 before entering a period of consolidation and pullback. The current movement is still within a normal adjustment structure, with some room for further retracement. In terms of trading, focus on the key support zone around 4200-4190, which was broken after the previous surge. As long as this zone holds, the strategy remains to buy on dips. The international macroeconomic environment continues to favor gold, and the technical structure also remains bullish. Therefore, buying on dips is crucial, rather than blindly chasing highs – this is the core of sound trading. Looking at the 4-hour chart, the resistance level to watch is around 4250-4260, a key resistance level. Support is seen around 4205-4190, a crucial support level for the bulls. Therefore, today's strategy remains to patiently wait for pullbacks at key levels. As long as the support holds, the potential for further bullish movement remains significant.
OANDA:XAUUSDLong
by Daniel_PrimeFX
DeGRAM | GOLD will break the $4250 level📊 Technical Analysis ● XAU/USD broke out of a long-term triangle and retested the confluence of trendline support and the 4,190 zone, confirming bullish continuation. ● Price is now moving inside an ascending channel, targeting the 4,300–4,380 resistance region as momentum strengthens after the breakout. 💡 Fundamental Analysis ● Falling U.S. yields and renewed safe-haven demand support further upside in gold as markets price in a softer Fed stance. ✨ Summary ● Bullish bias above 4,190. Targets: 4,300 → 4,377. Key support: 4,190. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!
FOREXCOM:XAUUSDLong
by DeGRAM
3
A perfect grasp of both bullish and bearish trends.Gold remains in an overall bullish trend, consistently hitting new recent highs. The bullish momentum remains strong, and pullbacks during the US session present buying opportunities. After testing the lows again in the US session, gold rebounded, maintaining its bullish strength. Continue to buy in the 4225-4215 range during the US session. The 1-hour moving averages are still in a bullish golden cross and diverging upwards, indicating further upward momentum. Gold rebounded strongly after testing the lows around 4215 in the morning, and again during the US session. The highs during pullbacks are progressively higher, suggesting continued buying opportunities during the US session. The principle is simple: follow the trend. Gold is currently in a bullish trend, and pullbacks present buying opportunities.
OANDA:XAUUSDLong
by Daniel_PrimeFX
Will gold prices fall after a surgeWhat will become ofthe marketGold Technical Analysis: Today, the gold market was paralyzed due to a data malfunction on the CME Group, leading to the closure of all gold trading. Due to the Thanksgiving holiday, trading was relatively quiet, and overall price fluctuations were not significant. However, the overall trend remains bullish. Looking at the intraday price action, fundamental uncertainties exacerbated market sentiment volatility, but the overall trading range remained within the expected range of 4220-4155. This indicates that with the US market closed today, market sentiment remains cautious, not blindly following sudden fundamental developments or completely deviating from technical expectations. However, this also reflects the current market's lack of direction and the risk of sudden price movements due to other factors. Gold is still trading within an upward channel on the hourly chart. A pullback to the lower channel support suggests a continued bullish trend. During the US session, gold is expected to fall back to 4160, presenting an opportunity to buy on dips. The hourly chart also shows gold at the upper edge of a range-bound pattern, potentially forming a support/resistance level. Support lies around 4160, the starting point of the morning's rise, which could become a key level for determining future direction. Key resistance is around 4220; a break above this level could lead to a challenge of the previous high near 4245. The recent upward movement after the open may be due to pent-up energy from the past two days of consolidation. Currently, the market trend leans towards an upward consolidation, so our trading strategy should focus on the bullish direction.In summary, the recommended trading strategy for gold is to primarily buy on dips and secondarily sell on rallies. The key resistance level to watch in the short term is 4240-4250, while the key support level is 4170-4160. Please stay tuned for further updates.
OANDA:XAUUSDLong
by Daniel_PrimeFX
6
What is the intention behind the surge in gold prices at theopenLast Friday, due to Thanksgiving, market liquidity was limited. It was expected that the market would close early and the price movement would be minimal. However, gold still broke strongly above 4200 before the close, reaching the 4220-4230 area before a strong finish. Nevertheless, the trading strategy for this week should not be to blindly chase the rally. The key focus now is on the short-term resistance zone of 4245-4260, which is the high point after gold rebounded from the strong support of 4000 on November 18th. It is also a key resistance level in this upward structure. From the 4-hour chart, this area shows very clear resistance. If the bulls cannot break through effectively in the short term, shorting at higher levels remains the preferred strategy. On the downside, the key support level to watch is the psychological level around 4200-4190. If it retraces and stabilizes without breaking through, it can be used as a reference area for short-term long positions. The overall strategy remains the same: if the resistance level holds, prioritize shorting at higher levels; if the support level holds, then look for pullbacks to go long. The trend is there, but timing is more important. Blindly chasing the rise is not a wise choice. Trading according to the structure and key points is the key to continuous stability. Continue to follow my rhythm this week. We make decisions with discipline, not let the market lead us.
OANDA:XAUUSDShort
by Daniel_PrimeFX
How high will gold go next week How much room is there to go up?Gold Technical Analysis: Gold has seen several highlights this week, breaking through the 4200 mark again, a figure that has caused considerable panic. Coupled with consecutive daily gains and high-level consolidation, this is the first sign of a strong upward move. The daily chart shows a reversal from a bearish to a bullish pattern, and if this pattern continues for two more days, forming a consecutive bullish formation, it will likely evolve into a second upward move. On Friday, gold experienced a relatively strong surge, falling to a low of around 4153 and rising to a high of around 4226. Currently, the bullish trend remains unchanged, and pullbacks present opportunities to enter long positions. The next key resistance level to watch is around 4245; if this level holds, a short position can be considered before going long. This week, the key resistance area for gold is around 4240-4250. If it can break through effectively, the price of gold is expected to further test the previous highs of 4300 and even 4380. On the downside, 4175-4160 has turned from resistance into the first strong support, and the more critical support is at the 4150 level, a trading zone between bulls and bears. From the 4-hour chart, the main support for the price is at 4200. As long as the market maintains its strong upward momentum, it will not retrace too deeply. Therefore, it is necessary to pay attention to the short-term bullish trend. On the hourly chart, the price rose from 4155, and after a retracement from 4170-4180, it rose to 4226. The bullish trend support is at 4155. As long as the price does not break 4155, it will continue to rise and move towards the 4240-4250 area. In summary, the recommended strategy for gold trading next Monday is to primarily buy on dips and secondarily sell on rallies. The key resistance level to watch in the short term is 4240-4250, while the key support level is 4180-4160. Please keep up with the pace of the market.
OANDA:XAUUSDLong
by Daniel_PrimeFX