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J-XAU

Gold can fall to support level, break it and continue to declineHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price some days ago price started to trade inside the wedge, where it at once made an impulse up from the support line to the resistance line, after which turned around and fell to the support level. Then price some time traded near this level and then started to grow to the resistance line of the wedge pattern and when Gold reached this line, the price broke it, thereby exiting from the wedge pattern. Next, XAU quickly rose higher than the 2415 level, which coincided with the seller zone, but soon turned around and started to decline inside the downward channel. In the channel, the price declined to the support line, breaking the resistance level, after which rose to the resistance line of the channel. Then Gold almost fell to the 2285 support level, after which turned around and in a short time rose to the resistance line of the channel. At the moment, the price continues to trades near this line, so, I think that price can decline to the support level, after which Gold will break it and continue to decline. For this reason, I set my TP at 2240 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
4
XAUUSD - Sell PositionSomeone asked how I took this position. Let me explain the different reasons: 1. Two Bullish Legs: During the Asia session, XAUUSD formed two bullish legs. This suggested a pullback to the previous pivot level, even if it continues to rise in the London and NY sessions. 2. Bearish Flag Pattern: The trading range resembled a bearish flag, indicating a likely reaction and decline from this resistance zone. 3. Weakening Momentum: In the 5m chart, the three pushes up at the end of the second leg showed signs of weakening momentum, pointing to increased selling pressure. This signaled a high probability of a pullback. These observations combined led me to anticipate a decline, making this position a strategic move based on technical analysis.
FX:XAUUSD
by Sober_Trading
2
We remain wary of today’s gains on gold and silverSilver rose over 2% in Thursday’s Asian session, eventually prompting gold to try and catch up. Yet gold’s ‘rally’ was lacklustre in comparison, and with silver pausing near a resistance cluster, we’d prefer to fade fold below $2350 for a move lower. Silver has stalled around a high-volume node (HVN) and trend resistance. RSI (2) is overbought and prices have risen whilst volumes were lower. RSI (2) is also overbought for gold on this timeframe with lower volumes, and the monthly pivot point and weekly R1 pivot reside around 2350. Bears could fade into gold below $2350 and target the weekly pivot around $2320. They could also seek shorts on silver around current levels with $30 as an initial target. At which point, bulls could then seek evidence of a swing low around the monthly pivot point or $30 for long swing trade.
FX_IDC:XAUUSDShort
by CityIndex
GOLD heading for under 2300$(06/18/2024)bears in the gold market still have the upper hand and selling pressure on gold still dominates the market. we believe the current price market will reach under 2300$ (likely 2285$ and 2266$) before doing a proper correction. 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.)
OANDA:XAUUSDShort
by fortunamarkets
Potential bearish drop for gold?Price has rejected off a resistance level which is a pullback resistance and could fall to our take profit. Entry: 2,337.01 Why we like it: There is a pullback resistance. Stop loss: 2,353.31 Why we like it: There is an overlap resistance level which aligns with the 100% Fibonacci projection. Take profit: 2,308.44 Why we like it: There is a pull back support level which is slightly below the 61.8% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAUUSDShort
by VantageMarkets
1
XAUUSD 16/6/24This week on gold, we are looking at the same range we had last week on the 4-hour chart. We expect prices to either move even lower from the last confirmed low within the range or break this range and push into the area of unmitigated supply above. Our preferred move is for the price to drop slightly lower, then run higher into the area of supply, and subsequently sell off, following the higher timeframe bias we have for this pair. A key point to remember is that we might not get a pullback, and the price could actually shift bullish if the last major high is broken. If this is the case, we are looking for a bullish run of the daily highs. For now, we are bearish, and I expect this to sell off further for the time being. Follow price action and trade your rules.
OANDA:XAUUSD
by PipSurfingSociety
Gold can exit from triangle and then drop lower support levelHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price a not long time ago declined a little lower than the buyer zone, but soon turned around and made a strong impulse up, breaking the 2325 support level. Later price reached a resistance level, which coincided with the seller zone and broke it too, after which made little correction and then continued to grow to the resistance line. When the price reached the resistance line, it turned around and in a short time declined to the support level, breaking the 2385 level one more time. Next, the price some time traded near the support level and later broke the resistance line, after which rose to the resistance level and at once made a downward impulse, lower than the 2325 level, breaking it. Also, Gold started to trades inside the triangle, where it bounced from the support line and quickly reached the support level, broke it, and reached the resistance line of the triangle. To this day, the price continues to trades near the resistance line, so, that's why I think that Gold can exit from the triangle pattern and then make drop lower support level, breaking it. For this case, I set my TP at 2290 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
3
GOLD - last crash, then a new all time high! (buy here)GOLD is probably preparing for a last small crash to the main support of the expanding triangle in the major timeframe. This is a great opportunity to buy GOLD at the bottom of an expanding triangle because it is also in confluence with the 0.382 Fibonacci retracement. This Fibonacci level is very strong together with 0.618 because 0.618 + 0.382 = 1. You can buy gold here, or enter a long position on futures with leverage to increase your potential profit.  You probably know that I am very bullish on GOLD for the next few years and expect at least a double in price. After many years of sideways price action, GOLD finally broke out and made a significant new all time high. GOLD seems undervalued and should go higher.  It's always important to look at the Elliott Wave analysis, as it gives us a better understanding of the whole market structure. Where on the map are we currently? On the chart, you can see an impulse wave (12345) and after such move we can expect a corrective structure, such as ABC or WXY. Usually, you want to take a Fibonacci retracement of the previous impulse wave and look for 0.382 FIB or 0.618 FIB. I don't think GOLD will go all the way down to 2155, that would be pretty bearish after the previous breakout to a new all time high. Buying gold at current levels is definitely a good idea, but if you want better price and timing, I would take the 0.382 FIB. This will also increase your risk-to-reward ratio. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
OANDA:XAUUSDLong
by Xanrox
9
Falling towards pullback support, could it bounce from here?XAU/USD is falling towards a support level which is a pullback support and could potentially bounce from this level to our take profit. Entry: 2,292.30 Why we like it: There is a pullback support level. Stop loss: 2,271.43 Why we like it: There is a pullback support level that lines up with the 161.8% Fibonacci extension. Take profit: 2,334.80 Why we like it: There is a pullback resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAUUSDLong
by VantageMarkets
XAUUSD - 15m Sell ScalpOn the 15-minute chart, XAUUSD is breaking below crucial support trendlines, suggesting an increased bearish momentum. The weakening support, indicated by the failure to sustain above these trendlines, points to a potential decline towards lower support levels. Traders should be cautious as the breakdown may accelerate selling pressure, leading to further downward movement in the gold price. Monitoring the price action closely around current levels could provide insight into whether the bearish trend will continue or if a short-term consolidation might occur before any recovery attempts.
FX:XAUUSDShort
by Sober_Trading