GOLD TRADING SCENARIO ON April 29, 2024:
Strategy 1. From now until 11:00 a.m. - 12:00 a.m. Gold returns to 2321, then Buy Gold immediately. TP hopes to reach 2330, which is further than 2343, but there is a condition that requires at 6:00 p.m. Gold closes above 2328, and vice versa. Gold closes below 2328, then exit Buy and move. Sell direction to 2296. Sell...
XAUUSD - LONG SHORT AND LONG
XAUUSD - LONG SHORT AND LONG, this my predictions according to wave theory, risk small and see how this going to play out, 3 wave in advance. risk small and always use stop lost.
V.Ragu
Main strategy is selling today.
If Gold breaks 2328-2333 support, looking for retracement for selling opportunities.
If Gold goes up to 2352-2364 zone, sell directly.
Patience is the key.
After the release of the US GDP figures for the first quarter of 2024, the gold market experienced a strong price surge, surpassing the $2,330 threshold, paving the way for recovery.
Currently, the price of gold is stable around $2,335, with short-term forecasts still optimistic towards buying pressure. Prospects are aimed at the psychological milestone of...
Looks like ya basic 1,2,3 pattern on the Daily
Target is a nice round $2,500
Gold may rise due to:
Inflation hedge: Investors often turn to gold to protect against inflation, as it retains its value during periods of currency devaluation.
Safe haven asset: Economic uncertainty and instability in the USD could drive investors to seek the safety of gold.
...
FX:XAUUSD is forming a sideways range and continues to test a strong resistance area. Bulls and bears continue to fight and still cannot share a strong area. Possible shake-up.
Gold is in the active phase of the correction, which started as early as last Friday and we were ready for it. The price is already down 5.7% from the high and most likely this is not...
Hello everyone
How gold will move for this week between 2290$ and 2373? We have a buy zone which starts at 2299$- 2290$ as well as the zone of 2362$-2373$ can bring gold down to a target of 2299$, however if gold close a 4H candle above 2373$$ it will go up to 2497$
Just keep in mind that this is my analysis and it's always important to be cautious when trading.
By checking the gold chart in the 1-hour time frame, we can see that yesterday the price corrected to about $2312 and then it came back with the demand and was able to grow up to the next supply range, i.e. $2332 to $2343, and then again It was accompanied by a heavy drop to $2305! As you can see, the price has entered the desired supply range for the fourth time...
🏃♂️ Gold is moving in the 🟢 Support zone($2,327-$2,302) 🟢 and managed to break the Uptrend line and the Support line yesterday.
🌊According to Elliott's wave theory , Gold seems to be completing wave 4.
🔔I expect wave 4 to finish near the Resistance lines and 🟡 Price Reversal Zone(PRZ) 🟡, and Gold will start to decline again and break the 🟢...
By checking the gold chart in the 1-hour time frame, we can see that after growing to $2331, the price went down and corrected to $2312! By stabilizing the price below the range of $2316, we can expect more fall from gold! The possible targets of this drop are $2309, $2303 and $2284 respectively! If the price drops to $2303, we will probably see a relative demand...
Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate....
Gold: Between Two Fires - Focus on US GDP data
In this analysis, I have explained the critical position of the gold price and the two possible scenarios it can create during the GDP data.
📺You may watch the video for further details📺
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
OANDA:XAUUSD
Gold price (XAU/USD) edges higher during the Asian session on Friday, albeit lacks follow-through buying and remains below the overnight swing high. As investors look past the weaker US GDP print, growing acceptance that the Federal Reserve (Fed) will delay cutting interest rates amid still sticky inflation helps revive the US Dollar (USD) demand....
Gold price lacks any firm intraday direction and is influenced by a combination of diverging forces. The weaker US GDP print and a rise in US inflation benefit the metal amid subdued USD demand. Hawkish Fed expectations cap the upside as traders await the release of the US PCE Price Index.
Generally speaking, Gold tends to benefit against the USD in a...
By checking the gold chart in the one-hour time frame, we can see that the price started to fall based on our analysis and hit all the targets of $2334, $2324, $2319 and $2303, and the total yield of this analysis so far is more than 1000 pips! I hope you have made the most of it!
The demand levels are $2296, $2283 and $2275 respectively! The supply levels are...
