Check the trend It is expected that the price will change the trend in the current resistance range and we will witness the beginning of the downward trend. If the price crosses the 100% level, it will be possible to continue the upward trend up to the resistance range by STPFOREX1
XAUUSD - Bearish We are currently in the 5th wave down on XAUUSD. According to Elliott Wave Theory, the minimum extension for wave 5 is expected to be at least equal to the length of wave 3.Shortby fxprecisiontradingUpdated 1
Gold Next Target is Wedge Pattern Top $250Falling Wedge Pattern Formed and the Target is Wedge Top, price around $250. And Expect Breakout the Wedge Pattern. I want to help people to Make Profit all over the "World".Longby SasikumarManiUpdated 3
Trading Plan for Gold (Next Week) Buy Correction upCurrent Market Context: Friday's Decline: Gold price declined by 3%, taking equal lows at 2312. H4 Chart Observations: Imbalance: Seen at 2348, above price equilibrium. Supply Zone: Noted at 2369.685. Technical Analysis: Correction Completion: The correction completed below 2312, suggesting a potential reversal or upward impulse. Extended Stop Hunt: We had a significant stop hunt to the upside, forming an expanding flat correction pattern. Trading Strategy: Long Position: Entry: 2288.00 ✅ Stop Loss: 2280.00 ❌ Target: 2348.00 🎯 Rationale: Based on the completion of the correction below 2312 and potential reversal signals, we entered a long position at 2288.00. The stop loss is set just below at 2280.00 to manage risk. Short Position: Entry Region: Around 2348.00 📌 Rationale: If price reaches the imbalance level at 2348, we will look for short opportunities considering it aligns with our technical analysis. Contingency Plan: Early Week Downtrend: Should the price continue to fall early next week, we will re-evaluate and update the chart with lower time frame structures to identify bullish trend support. Summary: Long Position: Already triggered at 2288.00, aiming for 2348.00. Potential Short Setup: Around 2348.00, subject to confirmation. Monitor Price Action: Early week movements to adjust strategy accordingly. Happy Trading! 📊🚀 Longby Mike_SnDUpdated 115
GoldRSI indicates Bearish Divergence. Which means that at any time the market trend can change to LL and LH. Shortby SohailChaudharyUpdated 4
XAUUSD. The seller is aiming for 2326 and belowOn the daily time frame, a sideways movement has been forming since April 9th. The buyer’s vector 4-5 reached a new high. The key candle of vector 4-5 was on May 20th and is located at the top (highest volume, "tKC" on the chart). The seller absorbed this candle, and now the seller’s vector 5-6 is developing. The first target is 2326.515. On the hourly time frame, there is a short trend. The last seller’s impulse started from 2374.01. The price corrected to the 50% level of the last impulse (2364.498), and we see a strong seller’s continuation. It makes sense to look for sell opportunities above 2390 if the price returns there or from the defense of the trend by the seller. by AlexeyWolfUpdated 4
Lingrid | GOLD correction followed by TREND CONTINUATIONThe price perfectly fulfilled my last idea. It bounced off the entry zone. OANDA:XAUUSD is heading towards the support levels after forming a clear double top pattern. The price has already tested the 50% level of the previous Friday's range, indicating a potential reversal. On the daily chart, we see a long-tailed candle that suggests a liquidity grab above the key level of 2330, but the price failed to close above this resistance. Moreover, the market has broken out of the ascending channel, which is pullback against bearish move. I expect it to continue moving downwards. My goal is the support level of around 2290. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻 Shortby LingridUpdated 151550
Bullish gold update After last Fridays 1000pip drop created by cpi and China we can see gold has broken out of weekly support and retested. Friday we saw the break of resistance going back into the old daily consolidation zone. What dose this mean for next week? Firstly Monday candle is very important. Gold has broken 2324 and remained above. We need to see a push up wards and a retest of this zone before any continuation to the upside. Breaking back under this zone means we are bearish back to 2300 to 2286 levels. Expect to consolidate back in this daily zone. Gold has many confluence and resistance from 2340. This should push us back down to test daily support before a push to break the 2360 zone. Interday trades will be taking set ups here to target 2400. Bulls will want to keep above 2330. Levels and things to watch next week. There is a downtrend in side the weekly consolidation matching levels of resistance and in line with 4 candle meet and daily engulfing. So expect a push down from there which is 2340 to 2357 area. back to 2330 to 2326. Weekly showing a head and shoulders pattern forming also. Some thing to keep an eye on. Clean rejections of 2392 would suggest the final shoulder to complete the pattern for the bigger retracement. Also notice this is perfectly inline with the daily fvg and around 50% of the fvg there's a 4hr candle meet at same level of 2392. Big confluence for a sell off. Fundermentals Gold moving higher on French policies risk factors. China buying the dip after last Friday gold mining get harder to source. And still tentions and war. These are indicators for more bullish activity. Longby samstoobad2
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
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
Gold Daily Forecast for June 11, 2024SELL 2349.00 TP 2286.00 in forecast, Gold technical forecast.Shortby ninafxyoutube3
DeGRAM | GOLD back in the channelGOLD is back in the channel again. After a decrease in volatility, the chart formed a long green candle, which immediately brought the price back to the channel boundaries. Now XAUUSD is trying to consolidate above the lower boundary. We expect a rebound in case of consolidation above the channel boundary. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!Longby DeGRAMUpdated 3314
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XAUUSD: Trend in 15 Min timeframeIf the level of 2327 break, you must know GOLD geos up till 2337 and 2343. Please pay special attention to the accurate trend, and colored levels. >>>>>>>>>>>>>>>>>>> The setup is very sensitive <<<<<<<<<<<<<<<<<<<<<<<< Be careful BEST MTby MT_TUpdated 11
Empire of dollar is crashing In the gold market, the most commonly extended wave is wave 5. IMHO this chart most accurately gives a path. Chart pattern on weekly. I really like using higher time frames. DXY ( U.S. Dollar Index) Longby BTC-XLMUpdated 131321
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
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 FORECAST: ENJOY W CAUTIONPotential XAUUSD movement. Use confirmation factor to ENTER TRADE.Longby Pfunzo_MNPUpdated 7
XAUUSD:12/6 Today’s Analysis and StrategyGold technical analysis Daily resistance 2340-70, support 2277 Four-hour resistance 2328-2340, support 2307-2277 Gold operation suggestions: Gold will continue to pay attention to the pressure near 2340 and 2370 during the day. As long as the market continues to run below this price, the overall structural trend will still be weak. Pay attention to the competition between long and short positions near 2277 during the day. Subjectively, we still expect gold to break this support again under the influence of fundamentals, bringing a new round of mid-line downward trend, but it is not easy to judge whether it can be established from a technical point of view. This requires attention to the impact of today's US CPI data and the Fed's interest rate decision. Today, the lower support continues to focus on 2305-2307. If it falls back during the day, we will continue to be bullish. The upper pressure will be around 2328. Today, we will rely on this range to maintain high selling and low buying. In the short term, the gold price is expected to continue to exchange time for space to maintain the rhythm of wide range of fluctuations between bulls and bears. Before further breaking through the 2270 mark, we will maintain the range fluctuation approach. SELL:2328 near SL:2331 SELL:2340 near SL:2345 BUY:2277 near SL:2274 Technical analysis only provides trading direction! Shortby ActuaryJUpdated 14
XAU/USD Bullish Channel Projection: Potential Short-term CorrectThis daily chart for Gold Spot (XAU/USD) illustrates a robust bullish trend within a defined upward parallel channel. Current price levels at $2,331.945 show a notable increase of +1.21%. Key support and resistance levels are marked at $2,392, $2,286, $2,186, and $2,050. The chart projects potential short-term corrections as indicated by the red and green arrows, with an initial drop followed by minor recovery and another dip. However, the overall long-term outlook remains bullish, with expectations for the price to rise significantly within the channel. Traders should watch for these support and resistance levels to identify potential entry and exit points.by FATHX2
Gold Friday-Buy TP 2380Gold opened 1st trade before market close trade 2 opened in asian session & 3rd trade in london-target is 2380...gold like previously creats dump which are -100$to50$ and then jumps back up.we are in a range 2300-2400 gold will not turn bearish before 2024 US elections and fed announce 1 rate cut this year even this cut was not needed as us economy is strong. If you have missed the buy entry leave a comment below to get a entry.Longby ProWolfTrader_89445