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Why Gold Could See a 15% Correction Before the Next RallyGold, sitting at around $2,700, boasts an impressive 32.1% YTD performance. However, we're anticipating a significant 10-15% correction from current levels. This past week's market dynamics are telling: the Russell 2000 surged 8.57%, $500B flowed into crypto markets signaling renewed risk appetite, while gold recorded its steepest weekly drop (-1.98%) since May 2024. While these factors shape our near-term bearish outlook, persistent economic risks reinforce our long-term bullish stance on gold for the next couple of years.
COMEX:GC1!Short
by Flow-Trade
Gold Expected to Rise, Target at 2733A great weekend has come to an end, and last week brought us substantial profits. This week, let’s aim for another strong start! Gold trading opens in just half an hour. On Friday, the price of gold showed limited movement, slightly different from our expectations, but this is not a concern—the rally is still on track! As of Friday’s close, gold prices hovered around the MA5 level without fully breaking through, suggesting some resistance. However, a broader time frame shows that the overall rebound isn’t over yet. Friday’s movement was merely an initial attempt to test the MA30 resistance, with the major resistance level expected at the MA60. With this in mind, my strategy this week is to buy gold below 2680. The first target range is 2685-2696, the second target 2706-2712, and the final target 2721-2733. Here’s to another profitable week ahead!
FOREXCOM:XAUUSDLong
by MichaeliaDefoe
Gold - Time To Close Out Partial Profits!Gold ( TVC:GOLD ) is now back to the upper channel resistance: Click chart above to see the detailed analysis👆🏻 After breaking above the plsychological $2.000 level, Gold created such an incredible rally, massively outperforming stocks and even cryptocurrencies over the past couple of months. Therefore, it is quite likely that big institutions will take some profits at the current levels. Levels to watch: $2.700, $2.000 Keep your long term vision, Philip (BasicTrading)
TVC:GOLDShort
by basictradingtv
22
Gold sideway below 2700 - in DOWN trendSCALPING XAU / USD ⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Traders took profits on recent Trump trades, leading to a pullback in the US Dollar from a four-month high and giving a boost to Gold prices on Thursday. The USD continued to ease after the Federal Reserve cut its benchmark interest rate by 25 basis points, bringing it to a target range of 4.50%-4.75%. ⭐️Personal comments NOVA: sideway in a bearish correction - waiting for the 2700 resistance zone to scalp SELL ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2700 - $2702 SL $2705 TP1: $2694 TP2: $2688 TP3: $2680 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account
OANDA:XAUUSDShort
by Nova-Scalper
3
Gold's Game: Bouncing Back from Key LevelsLet’s talk about Gold for a sec. I mentioned before that this level would be attractive for Gold because there’s liquidity and a local minimum that traders all over the world are eyeing and will be trading around. And that’s pretty much what happened. But then Gold dipped lower and 'knocked' on another level of accumulated liquidity—what some folks call the 'triangle,' or whatever works for you. It knocked and then bounced back up, leaving those bears who got stuck in short positions in a bit of a tough spot. So, bottom line, the sentiment is bullish for now, but it’s more like a 'borderline' bullish vibe, to be honest..
FOREXCOM:XAUUSD
by ClashChartsTeam
Gold : A Perfect Buy Opportunity Amid Expected Pullback!Yesterday, gold prices surged above 2700, rising $60 from open to close. Following such a significant increase, some pullback is likely in today’s session. However, this does not signal the end of the uptrend but rather a natural price correction. After the pullback, gold is expected to resume its upward momentum, with potential to break above 2730. Based on this analysis, today’s strategy is to continue buying gold. The ideal buying range is between 2688-2674, with a target set between 2725-2732. This pullback presents an excellent entry point for bullish positions, creating the potential for further profits!
FOREXCOM:XAUUSDLong
by MichaeliaDefoe
1
Gold price drops - stabilizes by the end of 2024XAU / USD trend forecast November 7, 2024 Gold dropped to a three-week low below $2,700 per ounce on Wednesday following the 2024 US Presidential election, with former President Donald Trump’s win strengthening the US Dollar and Treasury yields. XAU/USD saw a decline of over 2.5%, trading around $2,667 at the latest. Market uncertainty has eased, as Trump’s victory was more decisive than anticipated. Additionally, the Republican party secured majorities in both the Senate and the House of Representatives, completing a “red sweep.” Gold price dropped sharply to 2644, strong downtrend. Still in the upcoming downtrend, ending the price increase cycle of previous months. /// SELL XAU : zone 2682-2685 SL: 2690 TP: 50 - 150 - 300 pips (2655) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
4
Gold Rebounds to $2700! Post-Trump Rally Shows Signs of PullbackFollowing Trump’s election-driven downturn, gold prices have fully rebounded, climbing back to the $2700 mark. However, after this sharp rise, signs of a potential pullback are becoming apparent. I believe gold is nearing a short-term peak, making this an opportune moment to start selling and capture possible downside moves to lock in profits during the adjustment. Keep an eye on the market and stay flexible to manage the upcoming volatility.
FOREXCOM:XAUUSDShort
by MichaeliaDefoe
11.7 Analysis of Gold Short-term OperationYesterday, the gold market fluctuated greatly due to the influence of the US election. After opening at 2742.6 in the morning, the market first pulled up, and the daily line reached the highest pressure near 2750. After that, the market was affected by the US election result that Trump was re-elected and began to fall. After breaking the previous day's low of 2724, the market accelerated its decline. The daily line gave a minimum of 2650.7 and then the market consolidated. The daily line finally closed at 2658.8 and the market closed with a super large Yin line with equal upper and lower shadows. After this pattern ended, the daily head and shoulders top pattern was formed. In addition, the fundamentals expected that the market would fall back after stepping back. In terms of points, the long stops of 1996 and 2028 below were followed at 2600. The US market first rose to 2660 and gave a long stop loss of 2650. The upper target is 2675 and the breakthrough is 80-----90
FXOPEN:XAUUSDLong
by David_strategy
1
Gold Drops $100! Is Now the Perfect Time for a Pre-Rebound Buy?With Trump’s presidency and his economic focus, gold prices have taken a sharp plunge, dropping nearly $100. While I anticipated a decline, this significant drop exceeded my expectations. Fortunately, we managed to close out our long positions above 2700 and also capitalized on a successful sell-off during the New York session. Gold has now fallen below 2660 and remains pressured under the MA5 on the 30M chart. However, I believe a strong rebound is imminent. I estimate that gold could reach a solid bottom around 2646, with a possible low near 2631. On the 1D chart, the MA60 sits at approximately 2618, though I believe it’s unlikely to drop that far today. Today’s plan is to buy on the dip, with an eye on a potential rise to around 2780, after which I’ll shift strategy to selling. By seizing this potential rebound, we stand to capture considerable gains!
FOREXCOM:XAUUSDLong
by MichaeliaDefoe
11.7 Analysis of Short-term Gold OperationsOn Wednesday (November 5), gold prices fell below $2,700 as the dollar rose after Republican Donald Trump was elected as the US president after his amazing political comeback. Now it is trading sideways at $2,666. Technical analysis: Gold has key positions of support and resistance in the short term. At this stage, the $2,680-2,675 area constitutes an important support level for gold. If the gold price falls below this level, it may accelerate downward to test the support area below $2,650, which is the lower edge of the short-term rising channel since July. If it falls further, the next support range of market attention will be concentrated around $2,665, and further explore the $2,640 line. At the same time, if the gold price rebounds, the $2,748-2,750 area may constitute the first resistance level, and the key resistance above is in the $2,780-2,785 range. If it can stand firm in this range, it may be expected to return to the $2,800 mark. It is worth noting that the $2,800 mark, as the pivot point of the long-term upward trend, will be of great significance to the bulls. If it can be steadily broken through, it may restart the upward trend. BUY:2660 First target 2680 Second target 2700 Third target 2720
FXOPEN:XAUUSDLong
by David_strategy
3
Analyzing the Factors Behind the Recent Gold Price Decline A Post-Election Dip Gold prices experienced a significant decline following the recent US election. The precious metal, often seen as a safe-haven asset, retreated as the US dollar strengthened and Treasury yields surged. This confluence of factors put pressure on gold, which tends to perform poorly in a rising interest rate environment. Why Did Gold Fall? 1. Stronger US Dollar: A stronger US dollar typically weighs on gold prices. When the dollar appreciates, it becomes more expensive for foreign buyers to purchase gold, reducing demand for the precious metal. 2. Rising Treasury Yields: Higher Treasury yields reduce the appeal of non-yielding assets like gold. As bond yields rise, investors may shift their focus from gold to fixed-income securities. 3. Reduced Safe-Haven Demand: The election results, while not entirely unexpected, may have reduced some of the safe-haven demand for gold. Investors may have perceived less geopolitical risk and economic uncertainty, leading them to seek out riskier assets. Is More Downside Ahead for Gold? While the recent decline in gold prices has been significant, it's important to consider the factors that could influence its future trajectory: 1. Economic Uncertainty: Despite the post-election rally, global economic uncertainty remains elevated. Factors such as geopolitical tensions, trade disputes, and potential economic slowdowns could continue to support gold's safe-haven appeal. 2. Inflationary Pressures: Persistent inflationary pressures could drive investors toward gold as a hedge against currency devaluation. Central banks may need to tighten monetary policy to combat inflation, which could indirectly benefit gold. 3. Central Bank Demand: Central banks around the world have been significant buyers of gold in recent years. Continued central bank demand could provide support for gold prices. Technical Analysis From a technical perspective, gold prices have broken below key support levels. A further decline could be on the cards, with potential targets at the next significant support levels. However, it's important to note that technical analysis is not foolproof, and market sentiment can change rapidly. Investor Strategies Given the current market conditions, investors may consider the following strategies: 1. Dollar-Cost Averaging (DCA): By investing a fixed amount of money in gold at regular intervals, investors can reduce the impact of market volatility. 2. Physical Gold: Owning physical gold can provide a tangible asset and hedge against inflation. 3. Gold ETFs: Gold ETFs offer a convenient way to invest in gold without the physical storage costs. 4. Diversification: Incorporating gold into a diversified investment portfolio can help reduce overall portfolio risk. In conclusion, while the recent decline in gold prices is concerning, it's essential to consider the long-term factors that could influence its future trajectory. Investors should carefully assess their risk tolerance and investment goals before making any investment decisions related to gold.
OANDA:XAUUSDShort
by bryandowningqln
Downtrend continues - GOLD slows down⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold (XAU/USD) faces heavy selling pressure heading into Wednesday’s European session, dropping to near $2,700, marking a nearly three-week low. With Republican nominee Donald Trump leading the US presidential race and likely to become the 47th president, the US Dollar is seeing a strong rally, spurring sell-offs in gold. Concerns over deficit spending and expectations for a less aggressive rate cut from the Federal Reserve are also driving US Treasury yields higher, diverting interest from the non-yielding gold. Additionally, a risk-on mood—shown by a strong rally in US equity futures—suggests a downward trend may continue for XAU/USD. ⭐️Personal comments NOVA: The election results pushed gold prices back to the support price range of 2700, a recovery in correction mode. Still maintaining the upcoming gold support zone: 2700 - 2680 ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2748 - $2750 SL $2755 TP1: $2740 TP2: $2725 TP3: $2715 note scalping support: 2713 🔥BUY GOLD zone: $2700 - $2702 SL $2695 TP1: $2708 TP2: $2715 TP3: $2730 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account
OANDA:XAUUSDShort
by Nova-Scalper
5
11.6 Gold price plunged sidewaysAfter the high-volume plunge on Thursday, the gold price has been trading sideways above 2720. The price will maintain less than 30 US dollars in the short term. Yesterday, the direct 2745 dry short price can be repeatedly shorted in the short term. 2730 has been broken as expected on Tuesday, and the price will fall below 2700. The US dollar index has begun to rise sharply, and the non-US has already reacted very clearly, and the gold price is following closely. The 2745 dry short price has fallen to 2731 in the morning. Repeatedly go up to 2749 and do short again! At present, 2750 is the second highest point of the gold price. Wait patiently for the large short volume! This sideways trading is to accumulate power for diving! Intraday strategy: SELL: 2745 2750 Target: 30------20 BUY: 2700 2705 Target: 35-----40
FXOPEN:XAUUSDShort
by David_strategy
1
Perfect Time to Buy Gold! Morning Star Signals Further UpsideGood morning, everyone! A new day, a new opportunity! Yesterday’s trading brought us solid profits, and today we aim for even more gains. In the current gold market, I believe buying is the optimal strategy. In the short term, gold is likely to rise before a potential pullback. What’s behind this view? Take a look at the 30-minute chart: gold has successfully broken through the MA60 resistance and has formed a “morning star” pattern—a strong bullish signal indicating increased upward momentum. If MA60 can hold as support, gold is expected to rise to around 2745, possibly even reaching 2750.
FOREXCOM:XAUUSDLong
by MichaeliaDefoe
11.5 Gold adjustment is still continuing!1: For gold price, 2730 is support in the short term! 2730 is just a rebound, not a reversal. The pressure is concentrated in the range of 2745-50. The sideways trading at the bottom is not a bottoming out, but a new adjustment is brewing. 2: The reason is that gold has fallen from the high of 2790 US dollars. After breaking through the support of 2770 US dollars, the high point position has continued to break down. Even if the non-agricultural data is positive in the middle, it did not drive gold to continue to rise. It just rebounded to above 2760 to complete the top and bottom conversion (previously 2760-70 was a strong support, and strong pressure was formed after breaking). 3: From the $60 plunge in gold last Friday to the non-agricultural data, which did not rise, it shows that the selling pressure from above is large, the buyer's power is weakened, and the gold price can no longer be sent to a higher position. Moreover, the rise from 2605 to 2790 is a full $185. The technical side also needs to be corrected, and the profit-taking urgently needs to close the position and leave the market, so it is not blindly optimistic to chase more! The 1-hour structure clearly indicates that the highs have been moving down from 2790/2760/2748, while the lows of 2770/2734/2725 have been lost. This is a typical adjustment market pattern. There is no need to guess where the bottom is. Just keep an eye on whether the last high point has been lost.
FXOPEN:XAUUSD
by David_strategy
1
Gold Trading Insights Ahead of the Election!Although gold didn’t fluctuate much today, our returns were quite impressive! These small range movements create excellent opportunities for agile buying and selling. As I mentioned yesterday, the New York market did indeed decline today, and the buy signal I provided at the open hit the TP of 2745 perfectly. I then began selling, ultimately closing the trade at 2733 with great results. Tomorrow is the election, and I believe the results will boost the dollar, which could lead to a drop in gold prices. I plan to continue selling during tomorrow's New York session. What do you think?
FOREXCOM:XAUUSDShort
by MichaeliaDefoe
Gold Consolidates Ahead of U.S. Election🟡 Gold Price Update: Currently at $2737.00 Gold has been moving sideways recently, showing a period of consolidation as market participants await further catalysts. This sideways movement reflects uncertainty and cautious positioning, likely influenced by the upcoming U.S. election. Historically, major events like elections can introduce volatility as investors seek safe-haven assets in times of uncertainty, and gold often responds with significant moves. 📊 Technical Outlook Support Zone: $2725.00 - $2730.00 Resistance Zone: $2745.00 - $2755.00 Range: The current range-bound movement between $2725 and $2755 indicates that buyers and sellers are in balance for now, awaiting clearer market direction. Key Indicators: Relative Strength Index (RSI): Currently near the 50 level, showing neutral momentum. A breakout above 60 could signal buying strength, while a drop below 40 may suggest a bearish momentum. Moving Averages: The 20-period SMA is close to the price action, underlining the ongoing consolidation. Watch for price action to decisively break above or below the SMA, potentially signaling a new trend. Volume: Volume has been decreasing, suggesting a lack of strong conviction from either buyers or sellers. Look for a volume increase on any breakout to confirm the direction. 🔮 Possible Scenarios with U.S. Election Implications With the election on the horizon, any surprising result or political uncertainty could cause a significant uptick in gold demand as investors seek safety. However, a clear result may bring stability, potentially putting downward pressure on gold. Trade Setup Idea: Bullish: Consider buying on a confirmed breakout above $2755, targeting $2780 or higher. Bearish: A break below $2725 could open doors for a drop to $2700. As always, keep your risk management tight and watch for news developments. The market will react sharply as new information comes in!
OANDA:XAUUSD
by forexorbit
XAU / USD ! 11/4! Downtrend - correction continuesXAU / USD trend forecast November 4, 2024 Gold price (XAU/USD) sees modest gains around $2,740 during early Asian trading on Monday, breaking a two-day losing streak. Safe-haven demand for gold may rise due to uncertainties surrounding the US presidential election and Middle East tensions. The upcoming US presidential election on Tuesday is a key focus this week. Analysts at JPMorgan suggest that any decline in gold prices, regardless of the election results, could be a buying opportunity. Gold price continues downtrend H1 - waiting for the US presidential election move and the decision to lower interest rates or not in November 2024 /// SELL XAU : zone 2747-2750 SL: 2755 TP: 50 - 120 - 200 pips (2730) /// BUY XAU : zone 2717-2714 SL: 2709 TP: 50 - 120 - 200 pips (2734) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
3