GOLD / XAUUSD UPDATE !!!!www.tradingview.com The gold market is currently in a holding pattern, with traders reluctant to make premature decisions due to upcoming significant news. A consolidation below the level of 2315 is observed. A false break of support has led the price to retest the 2310-2315 range, after which traders are pausing before the news release. All attention is focused on the forthcoming major events, namely the CPI and the Fed meeting. The key US CPI data will influence the Fed's stance on interest rates, which will, in turn, significantly affect the value of the US dollar and gold prices in the short term. The market anticipates neutral data (no change), which would likely maintain the same fundamental backdrop. However, the actual data is highly anticipated, especially after last Friday's unexpectedly high NFP. Any initial reaction to the US CPI data might be short-lived as gold traders will soon turn their attention to the FOMC & Fed meeting. Resistance levels are identified at 2315, 2325, and 2354, while support levels are found at 2305, 2291, and 2267. From both a technical and fundamental perspective, gold appears weak at the moment. Amidst high volatility, the price may attempt to breach 2325 and test the liquidity zone of 2335-2345, then transition to a decline phase if the fundamental backdrop is conducive. The risk of further decline remains substantial, but the upcoming news could either exacerbate this decline or disrupt the market structure. by Goldxking4
Gold buy (27pips)After the instant SL Hit we took on NFP Friday it’s time to collect some liquidity, expect a bull run on this trade as the market needs to balance the orders. This is only a trade idea. Use proper risk management and Happy trading OANDA:XAUUSD FOREXCOM:XAUUSD TVC:DXY Longby PLETHORAFOREXINSTITUTE4
XAUUSD - Correction (Long)Internal journal entry I am sharing with you all (Transparency) Based on my rules this is a counter-trend trade however we are at the bottom of a channel at a key level and failed to break the low. Instead price created a higher lower, which is a change of character A break and close above 2312 means I will target 2332Longby BetterBusinessBully4
Bull Trap!still think we have room to go higher,Resistance at the mentioned level and we'll test the short. Waiting for the price to revisit 2291.13 We want to see support here, based on the price resisting we'll take a action price will decrease today or tommorow this level must be retest first... Shortby Goldminer10Updated 5
Gold Daily Forecast for June 11, 2024SELL 2349.00 TP 2286.00 in forecast, Gold technical forecast.Shortby ninafxyoutube3
Gold in pulback for breaked trend Gold in pulback for breaked trend Highest price betwen 2322_2330 and can short it for 2250 and 2200Shortby erfan_hy2
GOLD ANALYSES UPDATE SMART MONEY WORKED OUT!! GOLD UPDATE I ENTERED BUY LOOK REASONS IN CHART!!!Longby matejblazevic420112
GOLD/XAUUSD MONTHLY Higher speculations this week ahead on FOMC/FED rate, Im expecting price could go higher again atleast 2500 level befor it rips below 2000 level. This idea base on MOnthly opening on MAY and this June month. Im expecting price to go lower after the New high. Im not saying this trade a buy this time. Im buying 2000 level again for longterm hold. If youre on scalping this is not for you. THis idea are for longterm trades or monthly or Quarterly . Im expecting the dollar might go back again. imagine those level 104$ not so much changing. Now I will be updating this idea once the price goes above and Goes lower or 2000 level again.. This might be the boring trades you got. This is not a financial advice. Follow for more MOnthly trades on $GOLD. ciao. Im here to give you context on higher view. Longby keno19892
XAUUSD SHORTPreviously we had our descending channel that broke out to the upside with a confirmation of the W pattern. After fighting the push up it turned into an ascending wedge and after that 4 hour candle open outside of the wedge trendline we dumped 87 points and also broke all of our previous supports from our descending channel. We've now formed a bear flag which I have mapped out. Rejection from previous W pattern neckline might bring price down or also a rejection from the green trendline that forms the bear flag. Looking for entry at the break of the red trendline forming the bearflag but that would also be with a confirmation of a higher timeframe candle close below that line. This of course is just a prediction. HAPPY TRADING :)Shortby BULLIONARE3
Gold showing Bears incoming .Gold showing Bears incoming by breaking 2332.63 and close below . but keep an eye on news for sure . if not .. wait for a reversal .Shortby rekoo20Updated 2
edit last forecast this is last forecast but i want edit it i think before fall price can go up again and then fall maybe retest resistance level Shortby nsh12Updated 13
Hold 2305 Area ....Target 2350Dear Traders, if price hold 2305-2310 Area , i expect price will start upward movement to 2350 otherwise fall to 2270 , Keep Eye 2305-2310 !!!! Regards, Alireza!Longby alirezakUpdated 4
XAU/USD Profits taken!I have taken most of 80% profits at this level with the remainder trailing stop please do your own analysis when it comes to take profits and stop loss the markets can be unpredictable and we dont want to be to greedy! Shortby mitchpeaceforex2
Xauusd short setup Xauusd is now retesting the Trendline enter sell position @ 2320 with tp 2300 sl according to your riskShortby Ats9Updated 3
GOLD ( PPI ) (INTIAL JOBLESS CLAIMS )XAUUSD HELLO TRADERS Tendency the price is under bullish pressure at 2,304 $ Turning level : The turning 2,304 $ , so as long as the price above this level, there will be a bullish trend resistance level : the trading above the turning level 2,304 $ , the price will rise to 2,342 $ , price stabilize this level , there will be reach to 2,360 $ and 2,388 $ support level : The trading stabilizing below 2,304 $ , the price will reach the support level of 2,278 $ and 2,259 $ corrective level : price will attempt 2,304 $ , correct itself before rising * today , we have some news PPI and INTIAL JOBLESS CLAIMS , In my opinion negative for USD I WISH YOU A PROFITABLE DAY Longby ArinaKarayi5
Gold possible sellYesterday we took a swing trade for a sell and we're still holding, for this trade it will be taken on another account because of risk management, let's see how price goes today, always remember investing in the future requires one to think in probability, waited for liquidity to be created and cleared, now our entry limit have been activated by MadsTheGoldminer1
XAU/USD 13 June 2024 Intraday AnalysisH4 Analysis: Analysis/Bias remains the same as analysis dated 11 June 2024. -> Swing: Bullish. -> Internal: Bearish. Price has continued to trade to the downside Price has now printed a bullish CHoCH which indicates initiation of bullish pullback phase. Strong swing low is expected to hold, however, it would be worth noting the swing low must be taken as the weekly and daily TF's are both in pullback phase. Previous intraday expectation dated 10 June 2024 was for price to price to print bullish CHoCH, trade up to premium of internal 50% EQ before targeting weak internal low. Price has printed a bullish CHoCH which is indicative of bullish pullback phase initiation. Intraday expectation: Price to continue bullish, react at premium of 50% EQ or H4 POI before targeting weak internal low. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bullish. Price printed a bullish iBOS following yesterday's 12 June 2024) US CPI data release. Price has printed a bearish CHoCH indicating, but not confirming bearish pullback initiation following bullish iBOS. Price is reacting from discount of 50%. Intraday expectation: Price to target weak internal high. M15 Chart: by Khan_YIK2
GOLD & TREND REVERSALHow do you identify trend reversals on a support or resistance line? Do you... * Look for reversal canndles? * Double top/bottom? ( testing and retesting without breaking the line) * By marking a trend line? * Lower/Higher lows forming new Higher/lower lows? (Or vice-versa) Longby sya_nzimande1
XAUUSD / GOLD www.tradingview.com GOLD is challenging a robust resistance area at 2304, as well as a pullback level at 2314.7, establishing a new key resistance within the correction phase. Both technical and fundamental indicators for gold are negative; thus, a medium-term decline is anticipated. However, tomorrow's announcements, including CPI, FOMC, and the FED meeting, will likely address the overall inflation scenario and U.S. interest rates. Support levels: 2300, 2291, 2267 Resistance levels: 2304, 2314, 2325 Today, the market may fluctuate within the 2291 - 2325 range. The prospective direction will be clearer tomorrow (before the news), but intraday, a retest of resistance followed by a potential retreat to support levels is expected.by Goldxking7
Buy Gold @ 2304 - 2302Buy Gold @ 2304 - 2302 Tuesday 06/11/2024 01:42 AM EST 2298 StopLoss —> 2304.5 BreakEven+ TakeProfit 1: 2306 TakeProfit 2: 2308 TakeProfit 3: 2310 TakeProfit 4: 2312 TakeProfit 5: 2314 TakeProfit 10: 2324 TakeProfit 20: 2344 TakeProfit 30: 2364 Richard Eyo ~ The WizardLongby richardeyo90002
Heading into pullback resistance, could it reverse from here?The Gold (XAU/USD) is rising towards the pivot which acts as a pullback resistance and could reverse to the pullback support. Pivot: 2,319.97 1st Support: 2,286.09 1st Resistance: 2,351.54 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party. Shortby ICmarkets5
Brilliant Basics - Part 4: Multi-Timeframe AnalysisWelcome to the fourth instalment of our Brilliant Basics series, where we help you achieve consistency and discipline in foundational concepts that create a platform for long-term success. Today, we’re diving into the world of Multi-Timeframe Analysis (MTFA) . We will explore how to use different timeframes effectively and consistently to gain a deeper understanding of market dynamics can improve your trading decisions. The Power of Multi-Timeframe Analysis Multi-Timeframe Analysis is the practice of examining the same market on multiple timeframes to get a more comprehensive view of its behaviour. This technique has no time lag and ultimately allows traders to refine their entry and exit points. Why Multi-Timeframe Analysis Matters: • Context and Clarity: By looking at multiple timeframes, traders can see the bigger picture and understand the broader market trend. This context is crucial for trade selection and management. • Precision: Lower timeframes provide detailed price action information, which helps in timing entries and exits more precisely. • Confirmation: Using multiple timeframes helps to confirm signals, reducing the risk of false breakouts or reversals. How to Perform Multi-Timeframe Analysis 1. Select Your Timeframes: Choose three different timeframes: a higher timeframe for context, an intermediate timeframe for your core analysis, and a lower timeframe for precise entries and exits. The timeframes you select will depend on your trading style. For example, you might use the following: • Higher Timeframe: Weekly chart for the long-term trend (top right) • Intermediate Timeframe: Daily chart for the medium-term trend (left) • Lower Timeframe: Hourly for short-term price action (bottom right) Past performance is not a reliable indicator of future results 2. Analyse the Higher Timeframe: Start with the higher timeframe to understand the bigger picture market structure. Is the market trending, range bound or in a random whipsaw structure? 3. Refine with the Intermediate Timeframe: The intermediate timeframe is your core analysis timeframe. It should provide key levels of support and resistance and more detail on the current trend and momentum in the market. Trend continuation traders can look for pullbacks, consolidations, and continuation patterns that align with the higher timeframe. While reversal traders can look for reversal patterns that align with key levels on the higher timeframe. 4. Pinpoint Entries and Exits on the Lower Timeframe: Finally, use the lower timeframe to time your trades with precision. Look for reversal patterns, breakouts, or pullbacks that align with the higher and intermediate timeframe analysis. Examples Example 1: FTSE 100 MTFA Weekly candle chart (top right): The FTSE is trending higher having broken through key resistance and prices are pulling back from trend highs. Daily candle chart (left): The FTSE’s pullback from trend highs has formed a descending retracement line. It has also formed a clear swing low. Hourly candle chart (bottom left): Whilst the hourly candle chart has a bearish bias, given the bullish context of the higher timeframes, swing traders could potentially look to buy bullish reversal patterns at swing support or wait for the market to break above the descending retracement line. Past performance is not a reliable indicator of future results Example 2: EUR/GBP MTFA Weekly candle chart (top right): EUR/GBP’s dominant structure on the weekly timeframe is rangebound. However, we can see that the market has just broken a level of support. Daily candle chart (left): The daily timeframe highlights the significance of the break below support – the market gapped lower and a descending trendline has formed. Hourly candle chart (bottom left): Momentum on the daily and hourly timeframes are aligned, and this momentum is not contradicted by the weekly candle chat. In this scenario, traders could look to sell into pullbacks on the hourly candle chart. Past performance is not a reliable indicator of future results Example 3: Gold MTFA Weekly candle chart (top right): Gold’s weekly candle chart displays a well-established uptrend. Daily candle chart (left): The daily timeframe shows that the market has entered a period of sideways consolidation – marking clear support and resistance. Hourly candle chart (bottom left): While the hourly timeframe shows negative momentum, the established uptrend on the weekly and daily timeframes provides the context to look for bullish reversal patterns at support. Past performance is not a reliable indicator of future results Practical Applications of Multi-Timeframe Analysis Aligning Momentum: MTFA helps you to understand the alignment of momentum across multiple timeframes. This alignment increases the probability of success. Conversely, mis-alignment of momentum could be a red flag which would help you to avoid taking a trade. Enhancing Risk Management: By understanding the broader market context, you can set more effective stop-loss levels and profit targets. This approach minimises the risk of being stopped out by market noise on the lower timeframes. Improving Trade Timing: MTFA allows you to enter and exit trades at optimal points. For example, entering a trade after a pullback on the daily chart that aligns with a breakout on the hourly chart can improve your risk-reward ratio. Summary Multi-Timeframe Analysis is a powerful technique that provides a comprehensive view of the market. By examining an asset across different timeframes, traders can gain deeper insights, confirm signals, and make more informed trading decisions. In our final instalment, Part 5, we will outline a Pre-Trade Checklist that can be applied to any trading strategy on any timeframe. Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.84% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. Educationby Capitalcom3