I have marked on the chart how strong the bearish manipulation was negated and the price went back to retest it. Today I expect a very choppy price action as it is the last day of the month and I also expect a similar price action - a retest of the negation.
Pair : XAUUSD ( Gold / U.S Dollar ) Description : Symmetrical Triangle as an Corrective Pattern in Short Time Frame and Rejection from the Upper Trend Line RSI - Divergence Completed " ABCD " Corrective Waves Break of Structure and Retracement
Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 2039.81, which is an overlap resistance. Our take profit will be at 2022.42, a pullback support level. The stop loss will be placed at 2055, a multi-swing high resistance level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and...
If you look at the XAUUSD chart Monthly, Weekly, Daily and Hourly, all have setup for a move up. If you look at the chart over next 5-10 days I expect XAUUSD to be retesting the level at 2055 ish area. There is no resistance b/e 2038 and 2055, it should be a clear move up in 2-3 bars all moving up to the 2055 level.
Greetings, dear friends! Let's dive into today's gold price trends together! As anticipated, gold continues its subdued trading, still unable to break through the resistance level of $2035. However, it's holding steady, elegantly navigating within a price wedge pattern. We stand at a crossroads, awaiting pivotal market news that could swing the pendulum in one of...
Hello, dear friends! Today, gold has dipped nearly $5, trading around $2025 USD after failing to break the resistance at $2035 USD. The movement of gold prices is currently largely influenced by the Federal Reserve's (Fed) interest rate expectations. As such, the upcoming release of the core Personal Consumption Expenditures (PCE) Index - the Fed's preferred...
In the trading landscape of Tuesday in North America, gold witnessed a modest uptick, yet remained confined within a narrow range, reflecting a certain cautious sentiment in the market. The primary catalyst behind this growth was a slight decrease in the yield of U.S. Treasury bonds, casting a dim light on the U.S. Dollar. This is evidenced by the U.S. Dollar...
As we've moved through the first half of the trading day, gold has seen little change, hovering around $2028 USD and capped below the resistance level of $2035 USD, also showing signs of a double top pattern (indicating potential for a price decrease). Selling gold at this juncture seems to be a favored strategy, targeting profits at the support level of $2017...
Gold prices lost ground on Monday following a strong performance last Friday, pressured by rising U.S. Treasury yields - a situation that generally diminishes the appeal of the non-interest-bearing asset relative to fixed-income securities. In this context, XAU/USD finished the session around $2,030, slightly below a confluence resistance zone near $2,035. Many...
– Wednesday Daily candle closed Bullish within recent Daily Range as price continue to consolidate. I’ll be looking for potential Buys above 2038.100 targeting previous Weekly Support formed on 8th January 2024 around 2045.400 and 1h previous Support formed on 2nd February 2024 around 2052.500. I’ll be looking for potential Sells below 2030.300 targeting Daily...
Gold has reached the top of the 4H Channel Down pattern, while the 4H MA50 and the 4H MA200 just formed a Golden Cross. Despite that, and as long as the 1D technical outlook isn't bullish (RSI = 54.450, MACD = -0.200, ADX = 28.783) but more importantly the price is inside the Channel Down, the sentiment remains bearish. The 4H RSI is on the same kind of Bearish...
broke structure rejecting this resistance zone on higher time frames. supply area rejected. looking for a nice 300+ pip move great risk to reward setup
FOREXCOM:XAUUSD does not reach the resistance zone. Another strong seller appears on the market. The market pressure is formed and the price of XAU forms a set-up that predicts further decline to the range support. Today at 13:30 the US GDP will be published. Analysts expect GDP to decrease by 1.6%. But based on the general data there is a possibility that...
For 3 months DXY was in a decline from October 2023 to December 2023. Price went on to create the perfect leading diagonal, consisting of 5 waves. On the 28th of December, we were anticipating price to complete the diagonal and bounce off our diagonal support and reverse. Price went on to do exactly that! So, how do we use DXY to find setups? DXY can be...
Hey Everyone, Once again we saw price range between the two structures. The retracement range is holding well with another retest bounce from the retracement range into 2036. As part of our plans, we used the support areas to buy dips perfectly inline with the levels. As stated yesterday market is ranging and leaving gaps both ways with 2020, 2016 bearish gaps...
As March approaches, there have been major changes in the bond market recently. Bond traders no longer expect the Federal Reserve to cut interest rates by more than 75 basis points this year, which may be consistent with the results suggested by the Federal Reserve's December dot plot. Focus on the PCE data this Thursday, which will have an impact on the...
Pair : XAUUSD ( Gold / U.S Dollar ) Description : Bearish Channel as an Corrective Pattern in Long Time Frame Break of Structure and Completed the Retracement RSI - Divergence Completed " 1234 " Impulsive Waves Symmetrical Triangle in Short Time Frame and Rejection from Upper Trend Line