Get started

Goldtradeidea

Gold’s Power Play: Bubble or Break?After gold touched around 3659 during the day, it retreated to our primary target area as expected: 3640-3630 area. In this short transaction, we actually made a profit of 200pips, which is a relatively good trade. There is no doubt that gold is still in a unilateral upward trend and may continue to around 3670 in the short term, but at the current stage, I would rather wait and see on the sidelines than rush to chase the rise in gold, because I really don’t want to be hanging on a tree and swinging. What is unstoppable is that I will still try to short gold by touching the top in the high area along the current trend line. Judging from the recent fluctuations, since I don’t have the courage to chase the rise of gold, in order to participate in market transactions, I will try to short gold based on the principle of touching the high point of the trend line. It is not too difficult to earn a profit margin of 100-200 pips in short trading. According to the current trend line constructed, the current upward extension space is around 3670, while the intraday high is around 3660. Therefore, in short-term trading, we can still continue to try to short gold by using the short-term high point area of 3660-3670 as resistance. The primary short-term target is still the 3640-3630 area. Once gold falls below this area, the target area will be moved to the 3610-3600 area.
OANDA:XAUUSDShort
by PriceSniper_Steffen
Cyclic Patterns Point to 600-Pip Downside in GoldUnfortunately, gold failed to reach the expected 3620 target area during the pullback. It only touched around 3628 in the early morning hours before rebounding again. During this period, because I saw that gold could not fall below 3628, and even could not fall below 3630 at one point, I promptly closed all short positions near 3630. Although the two transactions suffered losses due to the slightly lower entry price, because we added short positions near 3636 and 3646, the overall profit was still $10K. Gold has now rebounded again and continued its upward trend to around 3657, continuing its upward trend. However, aside from opportunities to enter the long position in the 3630-3628 area, there are virtually no other good long entry opportunities. Judging from the current trend, gold still has the potential to continue to rise to around 3665, but since I missed the opportunity to enter the long position at 3630-3628, I will never choose to chase the rise of gold now. Although the current uptrend is strong, even if you short gold, there are always opportunities to exit safely and profit during the day. Therefore, I still plan to try to short gold in the 3655-3665 area. Of course, keep my tips from yesterday in mind when shorting. When you first try shorting gold today, try to use a small lot size. When adding positions, you can appropriately increase the number of trading lots to increase the average price and increase profit margins. From a shorting perspective, it is relatively safer! At present, I will pay close attention to the short-term support area of 3640-3630, followed by the area of 3610-3600. Don’t subjectively think that gold will not pull back to the 3610-3600 area, because in the previous band, after gold experienced three 200pips fluctuation retracements, the fourth retracement reached 660pips; and now gold has experienced three 200pips fluctuation retracements again. If it follows the cycle, gold may usher in another retracement of about 600pips, that is, reaching the 3610-3600 area.
OANDA:XAUUSDShort
by PriceSniper_Steffen
Breaking Free: How Bears Can Win Back in GoldAfter touching the trend line resistance area of 3640-3650, gold fell back as expected, showing a high "doji" in the hourly candle chart and signs of stagflation. It is expected to become a market turning point in the short term. The gold market may usher in a good correction in the short term due to this technical turning point. However, we need to note that as long as gold remains above 3580, the current situation is still a strong bullish pattern, so we must pay attention to the extent of the retracement. As gold continues to rise, the current short-term support is at 3620-3610, so I think it is necessary for gold to retrace its support in this area. Once gold is supported in this area, it may rebound again and retest the high area of 3640-3650. If gold falls below the short-term support area of 3620-3610, then gold will further retrace its steps to 3590-3580, which is the lifeline of bulls and the dividing line between bulls and bears. If gold falls below the 3590-3580 area during the backtest, the current gold bull advantage will no longer exist, and the bears will likely regain control of the situation. As most long funds take profits and the market experiences panic selling, gold will completely turn into a bearish trend and fall further. At present, I still hold short position in gold, and first aim at the short target area: 3620-3610 area. Once gold falls below this area, the target area will be postponed to 3600-3590 area. I am currently holding my short position and have already realized some profits. I very much hope that gold will fall back to the target area as expected!
OANDA:XAUUSDShort
by PriceSniper_Steffen
Turning the Tables: Bears’ Guide to Profit in GoldDriven by the dual influence of interest rate cut expectations and the job market, gold prices continue to rise and reach new highs. This is entirely a game played by big money at this stage. Buying sentiment in the gold market is currently so high that most of the time, there's no opportunity to even enter a long position. Therefore, after considering the possible phenomenon of "buying expectations and selling facts", while controlling risks, I carefully tried to short gold. Although I suffered losses frequently, I also made a good profit overall because I successfully captured the volatility. Currently, gold continues to rise and has reached a high of around 3637. In fact, according to its wave pattern, gold may experience a pullback at any time. This is why I insist on shorting gold today. The 1st wave: Gold rose from around 3405 to around 3508, a 3.1% increase with a fluctuation of $105. The 2nd wave: Gold rose from around 3470 to around 3578, a 3.16% increase with a fluctuation of $108. The current wave: Gold rose from around 3512 to its target of around 3637, a 3.5% increase with a fluctuation of $124. According to the trend of price fluctuations, gold has reached and, to a certain extent, exceeded the previous two waves, so a pullback is possible at any time. Furthermore, given that intraday fluctuations have been between $30 and $50 in recent days, and the intraday fluctuation of gold from around 3580 to around 3637 reached $57, a short-term pullback is highly likely. However, because the bullish momentum of gold is strong, I will continue to try to short gold before a clear peak signal appears, but I may appropriately lower my expectations for gold's pullback, that is, appropriately lower my expectations for profit margins. My current short position entry prices are: 3612, 3621 and 3636. Basically, I add positions every time the fluctuation is 100-150pips. I currently hope that gold can retreat to the area around 3610-3600.
OANDA:XAUUSDShort
by PriceSniper_Steffen
2
Critical Zone 3610–3620:Shorts Get Ready！After retreating to around 3579, gold rebounded again and has now reached a high of around 3614. Fortunately, the gold retracement gave us the opportunity to safely exit our previous short positions, and we accurately seized this pullback opportunity to close all our previous short positions at a break-even point. As I said, closing my short position does not mean that I am not optimistic about the gold pullback, but in the process of executing swing trading, we need to constantly adjust to make our short entry price more favorable to us. Therefore, closing the short position entered at a relatively low price previously gives us the flexibility to enter the short position again at a higher price. Gold was quickly pulled up to around 3614 in the short term. There was almost no headwind in the short term. Driven by the dual expectations of interest rate cuts and risk aversion demand, the bullish momentum was strong. However, in the short term, we are currently facing the 3610-3620 trend line resistance area, so I still do not advocate continuing to chase more gold; on the contrary, no matter what, I will continue to try to execute swing trading to short gold in the 3610-3615 area. Although the bulls have risen strongly, it does not actually provide a good position to enter the market to go long on gold. Since we cannot participate in long transactions, we can only try to short gold in waves during constant adjustments. On the premise of controlling trading risks, as long as we are not afraid of short-term floating losses, once gold begins to collapse, we will be the first traders to reap the benefits of the short position. Therefore, when gold is facing the trend line resistance area of 3610-3620, I first considered and executed a short trade at 3610-3615 as planned, hoping that the gold market will have a good retracement as some unsteady funds show signs of profit-taking!
OANDA:XAUUSDShort
by PriceSniper_Steffen
Extended Pullback Ahead: A Golden Opportunity for ShortsDue to the stimulation of the NFP market, gold continued to refresh its historical highs, continued to break through the recent high of 3578, and touched the 3600 mark as expected. According to the current market structure, the bullish momentum of gold is strong, and there is no obvious peaking signal in the short term. As the center of gravity of gold continues to rise, the current short-term support will move up to the 3570-3550 area, and the short-term strong support is near the 3530 area. However, in this extreme market, we shouldn't blindly chase gold at high levels to avoid being buried in a crash. Two key details emerge from this: 1. Gold experienced a significant pullback near 3578, retreating to around 3511. 2. Gold failed to hold above 3600 before Friday's market close, falling back to around 3586, indicating some profit-taking. Furthermore, the current surge in the gold market is driven by news and, to some extent, has deviated from technical indicators. Market sentiment is extremely euphoric, making it vulnerable to a sudden collapse during this period. Furthermore, after this period of digestion, expectations of a rate cut have largely faded, potentially leading to a potential exit by large investors and panic selling. Therefore, I do not think that chasing gold at high levels is a rational and correct strategy. Gold may still retrace to the 3570-3550 area in the future, or even continue to retrace to the area around 3530. Of course, this is another opportunity to make short profits in the short term. I currently hold a short position with the average price around 3582. If you also hold a short position like me, I think we can seize the profit opportunity of the gold pullback next!
OANDA:XAUUSDShort
by PriceSniper_Steffen
Weekly Outlook: Strong Bullish Momentum Meets Key US Data XAUUSD – Weekly Outlook: Strong Bullish Momentum Meets Key US Data | MMFLOW TRADING Market View: Gold (XAUUSD) ended the week with explosive momentum after Nonfarm Payrolls pushed price to a new ATH near $3600/oz. On the daily chart, the bullish candle closed with only ~30% wick, showing no signs of profit-taking. The weekly chart also printed a powerful bullish candle, confirming BUY dominance. This suggests that gold could see further upside in the coming week – and potentially throughout this month. Macro & Fundamental Drivers (Week Ahead): Key US data will drive volatility in XAUUSD: Wed, Sep 10: Core PPI & PPI m/m → hotter-than-expected prints could support USD short term, weighing on gold. Thu, Sep 11: CPI (Core, m/m, y/y) + Jobless Claims → the most critical release. Softer CPI + higher jobless claims would fuel gold’s rally, while hotter CPI keeps Fed hawkish. Fri, Sep 12: UoM Consumer Sentiment & Inflation Expectations → inflation outlook could shape Fed expectations further. Overall, fundamentals may create volatility, but the medium-term bias stays bullish. Technical Outlook (H1 Chart): Price is consolidating sideways after the Nonfarm breakout. Key levels to watch next week: Support: 3574 – 3551 – 3530 – 3516 Resistance: 3600 – 3621 – 3633 – 3649 – 3669 – 3678 Trading Plan: BUY bias (preferred): Long on pullbacks around 3574–3550 SL: below 3530 TP: 3600 → 3621 → 3633 → 3649 → 3669 → 3678 SELL scalp (alternative): Only if 3530 breaks with strong CPI upside surprise → target 3516/3527 Summary: ✅ Gold remains in a strong uptrend on both Daily and Weekly charts, with macro factors favouring further upside if inflation continues to ease. 👉 Watch 3592 (bullish trigger) and 3575 (bearish trigger) – these are the decision points for the next major move. Follow MMFLOW TRADING for daily updates and trade setups.
OANDA:XAUUSDLong
by MMFlowTrading
2
Gold Rockets Toward 3600 on NFP—How Can Shorts Escape？After the NFP market unexpectedly broke out, gold is currently testing the 3600 mark, and the bullish momentum is strong. However, when gold is facing the pressure of the 3600 psychological level, it is showing signs of stagflation at a high level. So I still think that before gold completely stands above the 3600 mark, it is still necessary for gold to retreat first. Because the gold market rose sharply under the influence of the NFP market, many investors were unable to intervene in the market in time, and even some investors who had already bought gold at high prices were not determined. Therefore, once gold experiences stagflation at a high level, some unsteady chips may first consider taking profits, thereby triggering panic selling; on the other hand, the gold market has risen sharply, and off-market wait-and-see funds dare not enter the market easily. Due to the lack of liquidity, gold may lead to weak continuity, so there is also a need for a pullback to increase liquidity! I still hold a short position in gold, with an average entry price of around 3582. Although there is a certain floating loss at present, the risk is still controllable and within expectations, so there is no need to be too nervous for the time being. I still expect gold to retreat to the 3570-3560 area before the market closes today.
OANDA:XAUUSDShort
by PriceSniper_Steffen
Brace Yourself: NFP May Send Markets Crashing AgainYesterday, gold rebounded after retreating to the 3537-3535 area, reaching a high of around 3561. Although gold has rebounded again, I believe its potential is limited. Because after gold retreated deeply from around 3578 to around 3511, its structure has been gradually changing, and the rebound was not strong. Judging from the current trend, 3578 is expected to form a temporary high point, and the withdrawal of large funds will easily stimulate gold selling sentiment in the short term, especially for those who are afraid of heights and are not firm. There is an NFP market today. If gold cannot break through 3565 before NFP, then gold is likely to fall again and fall below the area around 3535. Therefore, in terms of short-term trading, I will still insist on shorting gold on rallies. As long as gold does not exceed the area around 3565 during the rebound, 3578 may be successfully confirmed as the interim high point, and gold may usher in a good pullback again. We are looking forward to the reappearance of the deep pullback market during yesterday’s Asian session, which will bring us huge profits again.
OANDA:XAUUSDShort
by PriceSniper_Steffen
Gold’s Next Move: DOWN!!!Although gold continues its strong upward trend, it still provides opportunities for pullbacks during the day. For example, it hit a low of 3470-3467 yesterday. Currently, the highest price of gold has reached around 3550. Gold continues to set new historical highs. There is no price behavior and technical resistance above it as a reference. But obviously, as long as gold remains above 3540, I will not choose to aggressively chase gold at high levels. On the contrary, while gold is rising, I will still try to short gold at the top while setting protection. In terms of price behavior, gold started to rise from around 3322 and has reached around 3550 so far, with an increase of up to $228. Although there has been no decent retracement during this period, this strong momentum is indeed easy to form a combined force. However, once the market returns to rationality, the decline will definitely not be small. So at the current stage, I do not advocate going long on gold. On the contrary, I will actively look for opportunities to short gold! In the short term, we first need to observe gold's performance in the 3540-3530 area. If gold cannot fall below this area during the retracement, it may have the potential to continue to rise. If gold falls below the 3540-3530 area, the first retracement target will be the 3525-3515 area. If this area is broken, it is likely to continue to 3500-3490.
OANDA:XAUUSDShort
by Trading-Diary_Steffen
Gold Freefall AheadIntraday Trading Adjustments: 1. Closed a short position near 3470 (entry price: 3480), one of the lowest entry prices for a planned swing trade, locking in a profit of nearly 100 pips. 2. Closed a short intraday long position near 3491 (entry price: 3478), locking in a profit of 130 pips. 3. Immediately after closing the long position, added another short position near 3491, still planning a swing trade. Current Position (Swing Trading Plan): I continue to hold short positions with entry prices near 3493, 3505, and 3491. For swing trading, the first target area to consider for a pullback is 3460-3450, followed by 3435-3425. Market Analysis: While gold has not yet seen a significant decline, it has shown initial signs of topping out. A double-top formation with 3508 as the apex and 3495 as the secondary apex may form a significant resistance level in the short term, prompting a further pullback in gold. According to the current structure, as long as gold remains below 3595, it will help to successfully establish a double top structure; in addition, DXY has a need to continue to rebound in the short term, which is not conducive to the continued rebound of gold to a certain extent, and has a certain suppressive effect on gold. Therefore, at this stage, I will continue with the swing trading plan and hold the above short positions. The primary target of the retracement is considered to be the 3460-3450 area. If gold falls below this area during the retracement, it may even continue to the 3435-3425 area.
OANDA:XAUUSDShort
by Trading-Diary_Steffen
Start shorting gold in a swing trade, target: 3435-3415Gold has just broken through the 3500 level and continued to near 3509. Bullish momentum is strong. Currently, gold has significantly deviated from technical indicators and is driven entirely by market sentiment. However, from a trading perspective, it's difficult to easily find a suitable entry point to participate in a long gold trade. However, since yesterday's 3480 level, I've been increasing my short positions in gold and planning swing trading. Although there has not been a decent pullback yet, there are still reasons to support my shorting of gold! 1. While prices above 3500 have broken through historical highs, this is still uncharted territory, and bulls may be more cautious and hesitant. 2. Market expectations for a rate cut are currently growing, but after the Fed implements the cut, gold could experience a significant pullback, creating a "buy the expectation, sell the reality" phenomenon. 3. Although sentiment is currently driving the market, and technical indicators are completely distorted, there's still room for a technical pullback once market sentiment returns to rationality. 4. Based on current signs, gold may be accelerating towards its peak. These are the reasons why I'm continuing to increase my short positions in gold. As a swing trade, while the holding period may be extended, my target for the short position remains firmly in the 3435-3415 range. If gold breaks below this range, the trend could extend to 3400-3390. Of course, during swing trades, the longer holding period doesn't prevent us from executing short-term, daytime long trades. For short-term, daytime long trades, the current support area worth watching is 3485-3475. We can wait for gold to retrace to this area and then participate in gold long trades.
OANDA:XAUUSDShort
by Trading-Diary_Steffen
Gold near 3500, Who Wins—Bulls or Bears?Today, after gold touched around 3437 during the retracement, it was pushed up to around 3490 again by market sentiment. The bullish momentum was extremely strong and it is currently in a strong bullish trend. According to the current gold trend, there may be room for continuation above. However, in the transaction, I have made it clear that I will no longer aggressively chase the rise of gold! First, gold has risen sharply under the influence of fundamentals, and it is difficult to follow up in time on the technical level, resulting in a technical pullback demand for gold; in addition, gold has shown obvious signs of acceleration during the rise, and the market often easily has turning points after acceleration, and although gold is in an obvious bullish trend, it is still under considerable pressure before breaking through the previous high of 3500. These are the reasons why I am unwilling to continue chasing the rise in gold. The most important point is that since the market expectations of interest rate cuts have increased, a large amount of buying has appeared to push up gold prices before the Federal Reserve announced the interest rate cut. It is very likely that the phenomenon of "buying expectations and selling facts" will occur. Therefore, in the current transaction, I do not advocate continuing to chase gold at high levels. On the contrary, in the 3475-3495 area, I will consider creating as many short positions as possible as a swing trade, and be ready to welcome gold to retreat to the 3435-3415 area at any time. Of course, because swing trading requires a certain period of time, we can still participate in intraday short-term trading during the execution of swing trading, follow the mainstream trend and try to go long on gold with the support area. The support area we must first pay attention to is in the 3460-3450 area. If gold first touches this area during the retracement process, we can consider going long on gold in intraday short-term trading. CAPITALCOM:GOLD FX:XAUUSD TVC:GOLD FOREXCOM:XAUUSD OANDA:XAUUSD
OANDA:XAUUSDShort
by Trading-Diary_Steffen
Bears’ Last Chance Before the Golden Bull AwakensToday, gold has held 3373 many times during the retracement process, proving that the current market is still dominated by bulls. Currently, gold has touched above 3390 again, showing that buying power is still continuing. This is also the reason why we have been long on gold in the 3378-3374 area many times today, mainly based on the fact that gold is currently in an obvious bullish structure. But we need to note that although gold continues to rise, it is not strong. Most of the time it still fluctuates at a high level. It may be that the market is not highly unanimous in its agreement on the continuation of the strong bull market stimulated by the news, so the short-term volatility of gold will be exacerbated while it is rising. In addition, gold is becoming more cautious as it approaches 3400. In comparison, there is still a certain amount of suppression in the area around 3400, so we must take into account that gold may still retreat after being under pressure in the short term, so I think it is necessary for us to try to short gold again in the 3395-3405 area; once gold retreats as expected, the first test will be the short-term support in the 3385-3375 area. If the support in the 3385-3375 area is effective during the test, then gold may be able to break through the 3400 mark in one fell swoop, or even continue to the 3410-3420 area. So, in short-term trading. At present, we can consider shorting gold appropriately in the 3395-3405 area. If gold retreats as expected, we will first observe the performance of gold in the 3385-3375 area. If it cannot effectively fall below this area, we can adjust the trading strategy and re-enter the long trade!
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Final Bear Profit—Then Gold Turns BullishSupported by Trump's statement and geopolitical tensions, gold continued to rise to around 3394 and is currently fluctuating narrowly around 3390. Although the upward momentum of gold seems strong, the bulls are not resolute during the rise. Instead, they will launch an attack again after repeatedly testing the support. It is expected that the market is not highly unanimous in its agreement on the continuation of the strong bull market stimulated by the news, so the short-term volatility of gold will be exacerbated during the rise. As gold continues to rise, it is clearly under pressure in the 3400-3410 area in the short term. Moreover, the bullish sentiment of gold has obviously weakened before facing this area, so we must consider that gold may still retreat after being under pressure in the short term. Below, we should first note the short-term support area of 3385-3375. If gold fails to effectively break below this area during a pullback, it will likely retest 3400. Therefore, in short-term trading. At present, we can consider shorting gold appropriately in the 3390-3400 area. If gold retreats as expected, we will first observe the performance of gold in the 3385-3375 area. If it cannot effectively fall below this area, we can adjust the trading strategy and re-enter the long trade!
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Gold’s Next Move = Your Next ProfitOn Friday, gold prices soared due to Powell's dovish remarks, reaching a high of around 3379, and the candle chart showed signs of a V-shaped reversal. From a technical perspective, gold still has the potential to continue to rise, and as of now, gold has not effectively fallen below 3360. While effectively curbing the downward space, it also shows that a certain amount of buying momentum is still continuing. However, gold has not yet effectively broken through the 3380-3390 area, and the upper space has not been completely opened. If gold cannot break through this area, the bullish momentum may gradually weaken in the short term. In order to accumulate enough momentum to break through this area, gold may usher in a pullback in the short term. First, we should focus on the 3355-3345 area below. As long as gold remains above this area, the overall bullish pattern will remain. Therefore, this area is the entry area where we should try to go long on gold for the first time after gold pulls back. Therefore, we currently have two trading options: 1. When gold first hits the 3380-3390 area, consider shorting gold. 2. When gold first hits the 3355-3345 area, consider longing gold.
OANDA:XAUUSDLong
by Trading-Diary_Steffen
2
GOLD PLAN – Post-Jackson Hole: Correction or Breakout Ahead?Last week, Gold exploded higher after the Jackson Hole Symposium and dovish tones from the FED. The weaker USD fueled bullish momentum, and many investors are now eyeing new ATHs in the near future. But here’s the catch: after such a sharp rally, markets often need a healthy pullback before the next leg higher. 📊 Technical Outlook (H4) Gold is consolidating inside a tightening triangle structure, signaling that a major breakout is on the horizon. Friday’s strong bullish candle confirms buyers’ control, but history shows: before every strong breakout, Gold loves to create a deeper liquidity sweep to shake out weak hands. Key levels from FIBO and previous supply/demand zones will be crucial for decision-making this week. 📌 Key Levels to Watch Resistance: 3370 – 3383 – 3400 – 3425 Support: 3350 – 3340 – 3326 – 3315 🔥 Trade Plan BUY ZONE Entry: 3340 – 3338 SL: 3334 TP: 3345 – 3350 – 3355 – 3360 – 3370 – 3380 – 3390 – 3400+ SELL ZONE 🔴 Entry: 3400 – 3402 SL: 3407 TP: 3395 – 3390 – 3385 – 3380 – 3375 – 3370 ⚠️ MMF Insights Priority: Buy on corrections rather than chasing highs. Wait for confirmation at Key Levels before entering – don’t let emotions dictate your trades. Remember: Gold’s game is always psychology + patience – only disciplined traders will hold their edge. ✨ The market is gearing up for a big move – do you see a breakout coming this week? 🚀 👉 Drop your thoughts in the comments below!
OANDA:XAUUSDLong
by MMFlowTrading
10
Gold on Fire: Bulls Eye an Unrelenting Surge to 3365–3375Although gold has been weak recently, we have still achieved impressive results in gold long trading because it touched 3375 and 3358 twice during the rebound process. We have made a total profit of more than 900 pips in the long trading, which can be said to be a very successful transaction in the short term. At present, gold maintains an overall volatile market, but in the short term, gold has never effectively fallen below the 3330-3320 area. What is more obvious is that the dense trading area below is concentrated in the 3330-3310 area, so the buying support below is strong, which greatly limits the downward space of gold; in addition, gold touched around 3358 during today's rebound, and once broke through Friday's intraday high, which to a certain extent strengthened the market bullish sentiment. Therefore, when gold retreats again, there may be more buying funds willing to enter the market. In terms of fundamentals, the ceasefire and peace between Russia and Ukraine have not yet been settled, and the geopolitical situation remains tense; and the market's expectations for the Federal Reserve to cut interest rates are gradually strengthening. Against this background, gold still has the possibility of rising again. Therefore, in the short term, I still prefer to trade gold long. We can consider buying gold in the 3340-3330 area, first looking at the target 3365-3375 area, and even continuing the upward trend to around 3380.
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Last chance to go long on goldAlthough the initial jobless claims and PPI data were bearish for gold, it still failed to break below 3340-3330 area. After touching 3340, it rebounded to around 3356, demonstrating that a significant amount of buying capital was still entering the gold market during the pullback, limiting the downside while also providing strong support. Although gold has experienced several setbacks in its short-term upward trend, the bullish pattern has not completely failed. It remains within an ascending triangle structure in the short term. As long as this structure remains intact, gold could potentially rebound to the 3365-3375 area, or even to the 3380-3390 area, leveraging structural support. Currently, there is a fierce game between bulls and bears in the short term for gold, which brings considerable difficulties to our short-term trading, but why do I keep insisting on going long on gold? What I want to say is that when you are uncertain in the short term, you can zoom in on the chart period and observe. In fact, the trend is clear at a glance, but there are some twists and turns in the short term! Therefore, in the short term, I still advocate seeking to go long on gold with the 3345-3335 area as support, first looking at the target 3365-3375 area. If gold breaks through this area strongly during the rebound, the upward trend can continue to around 3380.
OANDA:XAUUSDLong
by Trading-Diary_Steffen
3340–3330: Bulls’ Last StandI still hold a long position in gold. Although gold has not continued its rebound and is relatively weak, it has tested around 3340-3330 many times but has never fallen below it. As long as gold remains above 3340-3330, gold bulls may sound the clarion call for a counterattack at any time. Gold has been falling frequently and seems to be shaky, but it has always held the area near 3340-3330. I think the frequent decline of gold is a false signal to trap the short sellers. Why do I think so? 1st, the area around 3340-3330 is the support level of the bullish structure and the last line of defense. It is unlikely that gold will effectively fall below this area in the short term. 2nd, this upward trend began around 3268 and reached a high around 3409.The area around 3340-3330 is exactly the 50% retracement area of this band, which has relatively strong support. So from a technical perspective, I think gold is currently accumulating energy, exchanging time for space. Gold bulls may explode at any time, thereby triggering a gold rally!
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Gold’s Pullback: Fueling the Next Surge Toward 3390-3400Today is the first trading day of this week. Gold has continued to fall since the opening, and has reached a low of around 3364 so far. Through the short-term trend, we can see that gold has insufficient willingness to continue to rise above 3400 and still faces considerable resistance. It needs more support and momentum to drive it forward before it can continue to rise. Currently, gold continues to retreat to around 3364. Has the trend of gold turned into a bearish trend? I think it's too early to draw such a conclusion! Although gold has fallen significantly, there is still strong buying support below. The 3360-3350 area has become a key support level. As long as gold does not fall below this area, the bullish structure has not been completely broken. Therefore, there is still sufficient energy for gold to continue its rebound. This decline in gold is intended to increase liquidity and accumulate more upward momentum, which will help gold stabilize at 3400 and move towards higher targets! Therefore, for short-term trading, I think we can still continue to try to go long on gold, but after all, the decline in gold has been so large. For short-term trading, we can appropriately lower the rebound expectations to the 3380-3390 area.
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Golden opportunities are not hard to grasp.Gold Market Forecast for Next Week: Gold News Analysis: The US dollar strengthened on Friday, but it is poised for a weekly decline as weak economic data led traders to price in the possibility of more interest rate cuts this year. Investors also assessed US President Trump's Federal Reserve nominations. Gold prices experienced a roller-coaster week from August 4th to 8th, particularly during the past two trading days, when reports of gold bar tariffs sparked market panic. Despite the White House's eventual clarification of the reports, gold prices remained near the peak of uncertainty, hovering around $3,400. Gold prices tested the $3,400 mark several times this week, but despite increasing expectations of a Fed rate cut and Trump's nomination of dovish Fed officials, prices remained above that level. Until Friday's news of gold bar tariffs, gold prices surged above the $3,400 mark, reaching a high of $3,409, the highest level since July 24th. Following the panic caused by the gold bar tariffs, and despite the US clarification of the reports, analysts and retail investors remain bullish on gold prices for next week. Next week, gold prices will focus on the meeting between Trump and Putin, as well as speeches by several Federal Reserve officials on the economic outlook, and the release of the July unadjusted CPI annual rate. Gold Technical Analysis: Looking at the current gold price trend, after Friday's pullback and negative close, will gold prices continue to decline next week, or will they rebound and rise? I believe the former is unlikely. The possibility of a new low exists, but it is low. Several attempts at the 3380 support level have failed to break. First, looking at recent price trends, gold prices have continued to rise, with higher highs and lower lows, indicating that the 3268 support level is valid. After rebounding to 3409, it began to fall, closing near 3397, demonstrating the 3380 support level and the strength of bullish sentiment. This suggests that gold prices are currently range-bound at a high level. However, given that the support level remained intact and the price closed above it, the possibility of gold prices breaking below 3380 next week is ruled out. Gold prices failed to break below 3380 on Friday as expected, and the overall trend of rising, falling, and closing lower shows that bulls still have the upper hand. However, I think it is not advisable to conclude that bulls will control the market next week. Although bulls have repeatedly tested 3410 without success, the decline has not been strong. In other words, if the bulls were truly strong, there would be no decline the next day, and the opening of next week should continue to rise. However, the current gold price has not only slowed down its rise, but also shown signs of decline, which means that bears are still holding the 3410 resistance level. Based on the above, we recommend a low-to-long strategy for early next week, supplemented by high-to-short strategies. Regarding support, watch out for 3380. After yesterday's repeated dips, this will become a key defensive point for bulls at the beginning of next week. A test or break of this resistance level is expected. An unexpected break below would disrupt the bullish short-term trend, with a high probability of seeing 3368 or a continuation of the decline to the 3350 area. However, we prefer a move higher above 3380. Regarding resistance, watch out for the 3410 area. Although this area is at 0.382, the dividing line between 3268 and 3500, and also represents resistance from Friday's high, after adjustments and with bullish momentum, the probability of a breakout is increasing. Therefore, we recommend focusing on the 3343 area, which provides strong resistance from the previous high and also represents the dividing line at 0.236. Upon first approaching or touching this area, try to enter a medium-term short position. On the whole, the short-term operation strategy for gold next week is recommended to focus on shorting on rebounds and long on pullbacks. The short-term focus on the upper side is the 3410-3420 line of resistance, and the short-term focus on the lower side is the 3380-3370 line of support.
OANDA:XAUUSDLong
by Trade-Daniel
It’s that simple to catch the golden trend.On Friday, gold did not break through the highs or the bottoms, and maintained the range of 3400 to 3380, which was in line with our expectations. In the analysis layout on Friday, I made it clear that I would short at the pressure of 3400 during the day, and go long at the support near 3380 before and after the US market, with an overall gain of 580pips. The points were accurate and there was no error. It was proven by strength that in this market, as long as you don’t chase orders, it is relatively easy to make some profits. Don’t always think about betting on the breakout of the market. Wait for the breakout before doing anything. Just do well in the present. It's better to miss than to do it wrong. The key is how you choose. Stability comes first. Gold continued to close positively on the weekly chart this week, and after hitting the bottom at 3368 and rebounding, it rebounded with large volume. It is in the process of gradually touching the upper track of the range. Normally, there is still room above, and the range pressure is at 3450. Therefore, we will continue to maintain a bullish mindset next week. In the daily cycle, it fluctuated and washed out repeatedly on Friday, and finally closed with a negative cross star. In the short term, it will maintain operation in the small range of 3409-3380. In terms of operation, continue to go high and buy low before the range is broken, and follow the trend after the breakthrough; an upward breakthrough can be seen at 3425 and 3450, and a downward breakthrough can be seen at 3365 and 3345. For the specific operation rhythm, pay attention to the real-time notification at the bottom.
OANDA:XAUUSDLong
by Trade-Daniel