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Gold's divergence from lows & a leap back to the high sky today? As I now know that Cryptocurrency has broken upwards & out of its tight ranges, well for now at least as it's a very volatile beast, Crypto, & the whole lot of it; my focus has swapped to Gold and Silver prices and I see that both have upside potential of their own, especially during Tuesday Asian trading when I was watching both at the bottom of their 15m triangle patterns and both ended with dignity taking a leap upwards in price. There are 15M Buy-order blocks that extend down to 2636.30 approximately, but I would not expect price to break-down that much more, given gold's general supremacy and standing in the world at present. The Gold price has pretty much been in a slightly corrective and smallish price-range for the past 4 weeks. I think another leg-up might commence soon.
EIGHTCAP:XAUUSDLong
by Easy_Explosive_Trading
Gold May Rise to 2685.00 - 2700.00 (READ DESCRIPTION)Gold May Rise to 2685.00 - 2700.00 Pivot Point: 2665.00 The pivot point of 2665.00 serves as a crucial level for determining market direction. It acts as the line between bullish and bearish sentiments. As long as gold remains above this pivot, the outlook is bullish. Our Preference: Long Positions: Gold is expected to rally, with an upside trend prevailing as long as the price is above 2665.00. Target Levels: Target 1: 2685.00 Target 2: 2700.00 This implies a potential upward movement of about 20 to 35 dollars from the pivot point. Alternative Scenario If gold prices fall below the pivot level of 2665.00: Bearish Outlook: The market may shift to a bearish sentiment, indicating a potential reversal in the upward trend. Target Levels: Target 1: 2656.00 (support level) Target 2: 2645.00 (further downside potential) This suggests that if the price breaks below 2665.00, it could decline further. Technical Indicators Relative Strength Index (RSI): The RSI is currently bullish, sitting above the neutral 50 level, indicating that the market is likely to continue its upward movement. A reading above 70 would indicate overbought conditions, suggesting caution. Moving Averages: 20-Day Moving Average: Indicates short-term trend direction and is currently above the pivot, supporting bullish sentiment. 50-Day Moving Average: A longer-term trend indicator, also above the pivot, reinforces the bullish outlook. Price Action: The current price is above the 20-day and 50-day moving averages, which typically indicates a bullish trend. A move below the pivot could signal a trend reversal or increased selling pressure. Volume Analysis: Increased trading volume on upward price movements can confirm the strength of the bullish trend. Conversely, declining volume on price drops could signal weakening selling pressure.
OANDA:XAUUSD
by CharivapaAlgo
Entry Types Simplified: The Essential Guide for New Traders!Key Structures and Formations: Ascending Channel: The price has been moving within this channel for a while. An ascending channel indicates an uptrend but also signals that the price is forming higher highs and higher lows, which can later break either direction. Bull Flag: A classic continuation pattern where after a strong bullish move (flagpole), the price consolidated before continuing upwards. This was a great entry point for traders watching for bullish momentum. Failed Flag: It appears there was a bull flag that failed to continue upwards and instead reversed direction. This type of failure is a strong indication for traders to reconsider their long positions or take partial profits. Often when a flag fails, it can lead to an aggressive move in the opposite direction. Zones: 4HR, 1HR, 15M LQZ (Liquidity Zones): These zones mark areas where liquidity is expected to be high, which means these are key levels to watch for price reactions. The 4HR LQZ around 2,622 and the 1HR LQZ around 2,639 are critical areas for price retracement or reversals, particularly in a trending market. Current Price Action: The price is currently hovering near the 15M LQZ (2,655.443), which could act as a short-term support/resistance level. Watching how the price reacts to this zone will provide insight into the next move. If the price continues to drop, the 1HR LQZ around 2,639 may provide support. If that fails, the next likely target is the 4HR LQZ near 2,622. Recommendations Based on Confluence: Check for Multi-Touch Confirmation: If the price interacts with the 4HR or 1HR LQZ zones multiple times and forms a base, this could serve as strong confirmation of a potential reversal or continuation​. Comprehensive Patterns: The failed flag within the larger ascending channel provides a great example of how smaller patterns (failed flag) can give clues about larger moves (channel break)​. Follow the Trinity Rule: As per the Trinity Rule, wait for multiple confirmations across different structures before entering a trade. The liquidity zones and patterns within patterns provide a good basis for this​.
OANDA:XAUUSDEducation
by Adlercon333
GOLD H1 Analysis | ShortHello, everyone! I’m excited to share my analysis for today on XAU/USD. As we dive into the market, I see a potential opportunity to go short, and I want to walk you through my thought process. It’s crucial to approach trading with a clear strategy, so let’s break this down together! Market Overview Gold has always been a safe haven asset, and its movements can be influenced by various factors, including economic data releases, geopolitical events, and changes in interest rates. As we analyze the current market conditions, I believe that there’s a compelling case for a short position. Technical Analysis Upon reviewing the latest charts, we’ve identified several key resistance levels that indicate a strong potential for downward movement. Look at the price action over the last few days—there’s been a noticeable rejection at the higher levels, suggesting that sellers are stepping in. Resistance Level: We've observed a solid resistance at , which has held firm against bullish attempts. Support Levels: Watch for potential support around . This can help us manage our risk effectively. Risk Management As we consider entering a short position, risk management is paramount. Remember, no trade is worth compromising your account. Here are some guidelines: Position Sizing: Determine your risk per trade based on your total account balance. A common approach is to risk no more than 1-2% on any single trade. Stop Loss: Set a stop loss just above the resistance level to limit potential losses. Risk-Reward Ratio (RRR): Aim for a minimum RRR of 1:2 or 1:3. This means for every dollar you risk, you should target at least two or three dollars in profit. Conclusion In conclusion, while the technical indicators suggest a good opportunity to short XAU/USD, it’s essential to proceed with caution. Always adhere to your trading plan, utilize proper risk management techniques, and maintain discipline. Let’s work together, share insights, and keep each other accountable as we navigate this market. If you have any questions or additional thoughts on this analysis, feel free to share! Happy trading, everyone! 💰📉
CAPITALCOM:GOLDShort
by HouseofProfit
How to Adapt Your Trading Plan to Any Market ConditionDaily Trendline Break and Market Structure The break of the daily trendline suggests potential bearish momentum. However, as the break appears corrective, we must be cautious about interpreting it as a reversal too early. As described in the Trinity Rule, it’s crucial to evaluate whether price is moving impulsively or correctively before deciding​​. The market could be forming an arcing structure, which traps traders on the wrong side before reversing, as mentioned in Pattern Separation​. This aligns with the idea that the market may retest the trendline or break structure in the opposite direction after a fake-out. Lower Timeframe Ascending Channel There is an ascending channel on the lower timeframes, which typically signals continuation of the bullish trend unless there’s a strong breakout to the downside​. This is where the Multi-Touch Confirmation comes in; if we get a third touch on this channel without a break, it could present a strong reversal signal​. However, if the price decisively breaks the ascending channel with strong momentum, the next step would be to look for a flag or corrective structure for an entry into the bearish continuation, as highlighted in Running Channels​. High-Probability Trade Setup Impulse and Correction: As per Entry Types​, a high-probability trade should be executed after the first impulse following a correction. If the price breaks out of the ascending channel, wait for a correction (such as a flag) before entering a short position. You may look for a third touch confirmation to enhance the probability of success​. Risk Management: Don’t rush the entry based solely on the trendline break. Ensure the structure evolves, showing a confirmed breakout, especially on higher timeframes​​. Manage your stop loss based on market structure rather than arbitrary levels. For instance, if the market presents an impulsive move after breaking the channel, your stop could be above the last lower high​. Market Structure and Valid Trades Evolve Structure: Continuously update your structure by considering the most recent touches. This avoids getting caught in outdated setups​. Where Are We in Structure?: Evaluate whether the price is impulsively breaking key levels or showing corrective behavior. If momentum is lacking after the trendline break, the bearish setup may not play out​​. Trade Scenarios Bearish Scenario (Short Setup): Price Breaks the Ascending Channel: If the price breaks with momentum, look for a retest or flag formation to enter short​. Manage Your Position: As the Rule of Three suggests, avoid perfectionism. If the market forms a strong flag or corrective structure, trust the process and adjust your stop as the trade moves in your favor​. Bullish Scenario (Long Setup) : Price Fails to Break the Channel: If the market respects the ascending channel, this could indicate a continuation of the bullish trend. You could enter long after the third touch confirmation or a clear rejection of lower levels​​. Multi-Touch Confirmation: This will be a key factor if the market holds within the channel​. Key Considerations Impulse and Confirmation: Be patient for the first impulse and correction before committing to a trade​​. Stay Neutral: Use running channels and the overall structure to keep a neutral mindset until the market gives a clear signal​. Avoid Perfectionism: Don’t hesitate or wait for the “perfect” setup if multiple confluences align. Stick to your pre-trade checklist to avoid overanalyzing​​.
OANDA:XAUUSDEducation
by Adlercon333
XAUUSD Flag Breakout Mastery – 100 Pips in Just Hours!You executed a fantastic trade on XAUUSD, capturing a solid 100 pips in 3.5 hours. However, there were additional techniques you could have employed to potentially capture more of the overall move: Higher Time Frame Confluence: Ensuring the overall trend aligns with the smaller time frame breakout can give you confidence to hold for bigger moves. Trailing Stop Strategy: This could have helped you lock in profits while giving the trade room to continue further. Recognizing Momentum: The impulsive nature of the move post-breakout was an indication to hold the trade longer. Momentum trading often provides an opportunity for a bigger run. Extended Targets: using Fibonacci extensions could have encouraged you to hold for additional profit. Complete Trade Walkthrough 1. Entry Analysis: Pattern Recognition & Confluence: Descending Flag (Bullish): You identified and entered at the top of a descending flag, which is a continuation pattern in a bullish market. The breakout from this flag confirmed the upward momentum, making this a high-probability trade. Confluence Factors: Breakout Confirmation: Price broke through the descending resistance line, signaling a continuation of the bullish trend. Support Zone: The prior lows acted as strong support, providing additional confidence that the price would move higher after the breakout. This was an excellent, well-timed entry based on price structure. You entered right as the market broke out of the flag, aligning with a momentum-based strategy. 2. Price Action (PA) Analysis: Impulse and Correction Structure: Impulse Move: After the breakout, price made an impulsive leg upwards, which you capitalized on. This impulsive move is common following a flag pattern breakout, and the price shot up quickly, reflecting a strong buying pressure. Correction: You entered just before the impulsive leg, after a period of corrective consolidation, which validated your timing. Once price pushed up, there was a brief consolidation before continuing the uptrend. Momentum Continuation: Price made higher highs after your exit, indicating that momentum was still intact. The price action displayed clear continuation signals following the breakout, suggesting that the market was still trending upwards. 3. Trade Management: Time in the Trade: You were in this trade for 3.5 hours, which aligns with the short-term nature of this flag breakout. However, the trade ran further, reaching up to 350 pips. Profit Targeting: Initial Take Profit (100 pips): You wisely took 100 pips as price approached a prior high. However, the fact that price continued upwards suggests that you might have captured more pips using alternative techniques. Exit Consideration: 100 Pips Exit: While exiting at a previous high is logical, the lack of signs of reversal (e.g., no strong bearish candles or rejection at key resistance levels) indicated there was still room for the move to extend. The price continuing upward shows that the bullish momentum was strong, and you could have held on for a larger move. Stop-Loss Placement: You didn’t mention your stop-loss, but if you placed it below the structure of the flag (and adjusted it accordingly), this would have allowed you to reduce risk and hold for a longer run. 4. Potential Improvements: Higher Time Frame Analysis (HTF Confluence): HTF Context: Had you zoomed out to a higher time frame (1H or 4H), you may have seen that the breakout was part of a larger bullish trend, indicating there was potential for the move to continue beyond the 100-pip target. Price Momentum: The momentum post-breakout on smaller time frames was strong. Checking the HTF would have given more confidence that this wasn’t just a short-term spike, but rather part of a more significant trend​​. Trailing Stop Strategy: Trailing Stops: Once your trade was 100 pips in profit, instead of closing the position entirely, you could have moved your stop-loss up to lock in some profits. This way, you could ride the larger move while managing risk. Example: After 100 pips, trail your stop just below the previous consolidation or a key structure (e.g., 50 pips back), allowing the trade to breathe and move further in your favor​​. Extended Profit Targeting: Fibonacci Extensions: By using Fibonacci extensions, you could have projected extended profit targets beyond the initial 100 pips. Typically, a flag breakout can lead to an impulse equal to the size of the flagpole, offering more opportunities to scale out of the trade gradually.
OANDA:XAUUSD
by Adlercon333
Triple Your Trade Accuracy with This Simple Trick Like a PROGood Morning Tradingview, Apologies for the delay in my recent posts over the past two days. Unfortunately, this was due to an oversight on my part. I missed a key detail in the trading platform's rules and mistakenly included my watermark on the charts. As a result, several of my posts were removed, and I was temporarily unable to post for 24 hours. I completely understand and respect the platform's guidelines, but I wanted to keep you informed and ensure you're not left wondering about my absence. Here’s a breakdown of potential entry points and trade management based on the chart I've shared, aligned with multi-touch confirmation and The Trinity Rule. We'll focus on how to approach both the bullish and bearish scenarios with structured decision-making: 1. Bullish Scenario (Green Path): The price currently appears to be testing a weekly trendline (third touch), which often signals a potential bullish continuation after the third touch confirms a reversal or trend continuation. Here's how to structure the trade: Entry Point: Wait for a Breakout: If the price breaks and closes above the upper consolidation zone, look for a confirmed breakout with momentum. Avoid entering prematurely, as false breakouts can occur. Confirm with Retest (Higher Probability Entry): After the breakout, wait for a potential retest of the consolidation zone or the top of the ascending wedge. A retest that holds (with rejection wicks or bullish engulfing patterns) adds confirmation for a long position. Reduced Risk Entry: You can enter with a smaller position on the breakout and add to the position on the retest, increasing exposure as the price confirms your bias​​. Stop-Loss Placement: Place the stop-loss just below the consolidation zone or below the retested area. This level serves as your risk threshold, accounting for potential fakeouts. If you are entering after the third touch of the trendline, the stop-loss can be placed below this key level to minimize risk​. Take-Profit Targets: First Target: Aim for the next key resistance zone at around 2,576 based on historical price action. Second Target: If momentum is strong, hold a portion of the trade for a larger move toward 2,592 (upper resistance). Trail the stop as price continues to move upward​. 2. Bearish Scenario (Yellow Path): If the price fails to break above the current consolidation and rejects the trendline, it indicates a potential bearish reversal. The descending path might target the 1-hour liquidity zone around 2,541, where you can expect the price to react. Entry Point: Breakout of Consolidation: If the price breaks below the consolidation, this signals a bearish continuation. Enter on a confirmed breakout, with a strong bearish candle close below support. Aggressive Entry: You may consider entering on the third rejection at the top of the consolidation, especially if there's a clear bearish reversal pattern (e.g., shooting star or bearish engulfing)​​. Reduced Risk Entry: Wait for the price to break below the consolidation and enter on a retest of the broken support, confirming the bearish momentum. This provides a lower-risk entry with better confirmation​. Stop-Loss Placement: Above the consolidation or the most recent swing high where rejection occurred, giving enough room for market fluctuations. Ensure that the stop isn’t too tight, as you could get caught in price noise​. Take-Profit Targets: First Target: The 15-minute liquidity zone around 2,560 is a reasonable first target, where you may partially close your position. Final Target: The key 1-hour liquidity zone at 2,541 is the more substantial target for a full bearish continuation. Be mindful of how price reacts near this zone; you may want to take profits before a reversal happens​​. Management Tips: Scaling In and Out: Whether bullish or bearish, consider splitting your position into smaller entries. This allows you to enter part of the trade with confirmation and add more as price action continues in your favor. Use of Flags for Re-entries: After the initial breakout in either direction, look for flags or continuation patterns to re-enter the trade or add to an existing position. For example, after a bullish breakout, wait for a flag and enter on the next wave up​​. Regular Monitoring and Adjustments: As the price moves in your favor, trail your stop-loss to lock in profits. This is especially important during strong momentum moves to avoid giving back profits to the market. Psychological Considerations: Avoid FOMO: Don’t rush into trades if you're unsure about the breakout or failure of a level. Let the price action confirm your bias. Avoid Overtrading: Stick to your Rule of Three guidelines. Ensure at least three confirming factors align with your analysis before entering​.
OANDA:XAUUSDEducation
by Adlercon333
Catch Big Market Moves: How to Trade Liquidity Zones Like a Pro The charts provided showcase potential scenarios based on different liquidity zones (LQZ) on multiple timeframes, such as 15M, 1H, and 4H. Let's break down the key insights from the images: Key Levels: Weekly Flag Trendline: This yellow trendline represents the long-term trend and acts as a major resistance or support. It’s crucial to monitor price action around this level for significant moves. 4HR LQZ (Liquidity Zone) at 2,532.077: This level signifies an important area of liquidity on the 4-hour chart. It’s a potential reversal point or continuation area depending on how the price interacts with it. 1HR LQZ and 15M LQZ: These shorter timeframe liquidity zones are at 2,482.129 and 2,470.544 respectively. They act as interim targets or bounce zones based on the smaller trend movements. Price Action Context: Wedge Formation: The rising wedge pattern visible in all the charts, combined with slowing momentum near the top, suggests possible bearish pressure. Wedges often lead to sharp breakouts, so a breakout to the downside would align with the wedge structure. Multi-Touch Confirmation: The multiple touches on trendlines, both support and resistance, increase the probability of significant movements. This concept is supported by multi-touch confirmation techniques​. Scenario Planning: Upside Potential: A breakout above the 4HR LQZ suggests further bullish momentum, likely toward higher liquidity zones. This can result in a continuation to the upside, as shown with the green line projection on some charts. Downside Risks: A breakdown below the wedge support and failing to hold the 15M or 1HR LQZ may lead to a bearish move toward the lower liquidity targets. The yellow line projections suggest a pullback to 2,485.055 and potentially lower. The Trinity Rule Approach: Confluence Setup: If price interacts with three major zones (like the 4HR LQZ, wedge support, and Weekly Flag Trendline), we can assess whether these align with other signals. This rule adds extra confirmation for higher-probability setups, as discussed in your document​​. Overall, price action shows a decision point around the wedge and liquidity zones, with strong reactions expected in either direction.
OANDA:XAUUSDEducation
by Adlercon333
3
Why Most Traders Fail—and How You Can Succeed!The charts you provided showcase potential scenarios based on different liquidity zones (LQZ) on multiple timeframes, such as 15M, 1H, and 4H. Let's break down the key insights from the images: Key Levels: Weekly Flag Trendline: This yellow trendline represents the long-term trend and acts as a major resistance or support. It’s crucial to monitor price action around this level for significant moves. 4HR LQZ (Liquidity Zone) at 2,532.077: This level signifies an important area of liquidity on the 4-hour chart. It’s a potential reversal point or continuation area depending on how the price interacts with it. 1HR LQZ and 15M LQZ: These shorter timeframe liquidity zones are at 2,482.129 and 2,470.544 respectively. They act as interim targets or bounce zones based on the smaller trend movements. Price Action Context: Wedge Formation: The rising wedge pattern visible in all the charts, combined with slowing momentum near the top, suggests possible bearish pressure. Wedges often lead to sharp breakouts, so a breakout to the downside would align with the wedge structure. Multi-Touch Confirmation: The multiple touches on trendlines, both support and resistance, increase the probability of significant movements. This concept is supported by multi-touch confirmation techniques​. Scenario Planning: Upside Potential: A breakout above the 4HR LQZ suggests further bullish momentum, likely toward higher liquidity zones. This can result in a continuation to the upside, as shown with the green line projection on some charts. Downside Risks: A breakdown below the wedge support and failing to hold the 15M or 1HR LQZ may lead to a bearish move toward the lower liquidity targets. The yellow line projections suggest a pullback to 2,485.055 and potentially lower. The Trinity Rule Approach: Confluence Setup: If price interacts with three major zones (like the 4HR LQZ, wedge support, and Weekly Flag Trendline), we can assess whether these align with other signals. This rule adds extra confirmation for higher-probability setups, as discussed in your document​​. Overall, price action shows a decision point around the wedge and liquidity zones, with strong reactions expected in either direction.
OANDA:XAUUSDEducation
by Adlercon333
Why WAITING on XAU Will pay BIG TIME The charts cover different timeframes of the XAU/USD (Gold/US Dollar) pair, and they reveal several key technical structures and patterns that are useful for trading analysis. 1. Flag Pattern and Breakout (5-Minute and 15-Minute Charts) - On the 5-minute and 15-minute charts, there is a visible **flag pattern** following a strong upward move (bullish flag). This pattern typically indicates a continuation of the prevailing trend after a consolidation phase. - The flag's lower trendline (support) and upper trendline (resistance) are marked in yellow. The price consolidated between these lines, and the breakout occurred upwards, confirming the bullish continuation. This breakout could be a potential entry point for a long position, with the stop loss below the flag's lower trendline and a target based on the flagpole's length (the initial strong upward move preceding the flag). 2. Descending Channel and Potential Reversal (1-Hour and 4-Hour Charts) - The 1-hour and 4-hour charts display a **descending channel** (marked with yellow trendlines). The price recently touched the lower trendline and bounced back, showing signs of a potential reversal. - If the price continues to break above the upper trendline of the descending channel, it could signal a bullish reversal, providing a possible entry for a long trade. The risk management strategy should include placing a stop loss below the recent low (or the channel's lower trendline) and targeting previous resistance levels or the channel's upper boundary. 3. Broadening Wedge Formation (4-Hour Chart) - The broader view on the 4-hour chart shows a **broadening wedge pattern**, where the price has been making higher highs and lower lows. This pattern is generally considered a sign of increasing volatility and potential trend reversal. - If the price breaks above the broadening wedge's upper trendline, this could further confirm a bullish reversal. Conversely, a break below the lower trendline would suggest further downside potential. 4. Support and Resistance Zones (Highlighted on All Charts) - Several horizontal lines mark significant **support and resistance levels** around $2,507 and $2,532.144, respectively. These levels could serve as potential entry or exit points based on how the price reacts when approaching them. - Observing how the price interacts with these levels can provide clues for future price action. For example, a sustained move above $2,507 could confirm a bullish sentiment, whereas a rejection or false breakout might suggest the continuation of the bearish trend. Trading Strategy Recommendations: 1. Flag Pattern (Short-Term Bullish) If looking for short-term trades, consider entering a long position on a confirmed breakout of the flag pattern, with a stop loss below the flag's lower trendline. Target a move equal to the height of the flagpole added to the breakout point. 2. Descending Channel (Potential Reversal):If trading based on the descending channel, a break above the upper trendline could signal a reversal and a potential buying opportunity. In contrast, if the price rejects the upper trendline, consider shorting with a stop above the recent highs and target the lower boundary. 3. Broadening Wedge (Cautious Approach): For traders cautious about volatility, wait for a confirmed breakout from the broadening wedge to determine the trend direction. Enter long if it breaks upwards and short if it breaks downwards, setting stop losses just beyond the breakout points. 4. Support and Resistance Levels (Decision Zones): Use the marked support and resistance zones as decision points. Enter trades based on confirmation signals near these levels, and manage risk by adjusting stop-loss orders accordingly. By combining these observations with confluence factors such as higher time frame trends, candlestick patterns, and multi-touch confirmations, you can refine your entry and exit points and enhance your trading strategy.
OANDA:XAUUSDEducation
by Adlercon333
7
Unlock Winning Strategies: Spot High-Probability Trades!Chart Analysis: XAU/USD (Gold Spot vs. USD) Based on the two charts you have provided, here is a detailed technical analysis of XAU/USD using price action and chart pattern observations: 1. Weekly Flag Trendline (Higher Time Frame Context) The upper and lower yellow trendlines represent a possible flag pattern on the weekly chart. This suggests a consolidation phase after a strong impulsive move. A flag pattern typically signals a continuation of the previous trend, which, if the context is bullish, indicates that after consolidation, there may be a continuation to the upside. On both charts, we can observe that price action is contained within this broader structure, indicating that price is in a correction phase rather than an impulsive phase. 2. Key Horizontal Levels 2,532.144 and 2,506.245: These levels act as strong resistance zones. The price has struggled to break above these levels multiple times, indicating significant selling pressure or profit-taking at these points. 2,471.313: This is a key support level. The price has reacted to this level before and, most recently, has bounced back after testing this support zone. This suggests that buyers are willing to step in at this level, providing a floor for the price. 3. Descending Channel and Price Action Patterns Descending Triangle/Channel Pattern: On the 15-minute chart, the price seems to be forming a descending triangle pattern (lower highs and a flat support at 2,471.313). This pattern is typically bearish, suggesting a potential breakdown if the support does not hold. Potential Reversal Patterns: After testing the lower trendline of the weekly flag pattern and finding support at the 2,471.313 level, there was a notable bullish reaction. This can imply a short-term reversal, especially if confirmed by a break above the minor resistance level of 2,494.370. 4. Consolidation Zone and Lower Time Frame Patterns The 15-minute chart shows a clear consolidation pattern after the sharp decline, with price action currently moving sideways between 2,494 and 2,506. A break above this consolidation range could signal a short-term bullish continuation towards the upper resistance levels, while a break below would imply a continuation of the bearish trend observed previously. 5. Breakout and Pullback Zones The yellow dotted lines on the 15-minute chart indicate key areas where the price broke out from consolidation phases. These areas are crucial for identifying potential entry points in a trending market. If the price retests these zones and finds resistance or support, they could act as triggers for either continuation or reversal trades. Trading Strategy Considerations Bullish Bias: Traders with a bullish bias might consider waiting for a breakout above the 2,506.245 resistance, looking for a confirmation with a pullback to this level as support. The target could be the upper boundary of the flag around 2,532.144 or higher, depending on momentum and broader market conditions. Bearish Bias: A trader with a bearish outlook might wait for the price to break below the 2,471.313 support level, looking for short positions targeting lower levels aligned with the descending channel's trajectory. Range Trading: Given the current consolidation between 2,494.370 and 2,506.245, range traders could look for entries at the edges of this range with tight stops and defined profit targets within the range. Conclusion Given the price action analysis and current chart patterns, the XAU/USD market appears to be in a consolidation phase within a broader flag pattern. This suggests that while the immediate outlook may be neutral to bearish, there is potential for a bullish breakout if key resistance levels are breached. Traders should watch for confirmed breakouts or breakdowns from these levels to guide their trading decisions, keeping in mind the broader market trend and any fundamental drivers influencing gold prices.
OANDA:XAUUSDEducation
by Adlercon333
Chart Patterns Within Patterns: A Guide to Nested Setups Daily Chart Analysis: Pattern Overview: The daily chart shows an Ascending Channel formation, which generally indicates a bullish trend but can also signal a potential reversal if the upper trendline acts as strong resistance. Within the ascending channel, there are continuation patterns such as smaller bull flags, which suggest bullish momentum continuation. Key Resistance and Liquidity Zone (LQZ): The upper trendline of the ascending channel aligns closely with the recent highs around the $2,530 - $2,540 region, creating a significant resistance area. The 1-Hour Liquidity Zone (LQZ) at $2,486.793 is marked below the current price, indicating potential areas where price might retest before any significant upward or downward move. Potential Reversal Signal: The upper boundary of the ascending channel has recently been tested multiple times, and each time, there has been a slight pullback, indicating selling pressure. This could be a precursor to a possible reversal if this level is not broken with conviction. 4-Hour Chart Analysis: Nesting Patterns: The 4-hour chart also reveals several nested patterns within the broader ascending channel, including smaller bull flags and a potential double-top pattern forming at the resistance zone. The price action is consolidating below the resistance line at $2,530.750, creating a possible Double Top scenario, which could indicate a bearish reversal if confirmed by a breakdown below the neckline support. Impulse and Correction Phases: The recent impulsive moves upwards have been followed by corrective pullbacks, which have been forming higher lows, reinforcing the bullish bias in the medium term. However, the proximity to the resistance and the potential double-top formation might signal caution for long positions. 1-Hour and 15-Minute Chart Analysis: Short-Term Structure: The 1-hour chart shows a more detailed view of the recent consolidation phase near the key resistance level. There are signs of weakening momentum as prices approach the upper trendline. The 15-minute chart further shows a tightening range and potential bear flag or a descending channel, which could indicate a short-term bearish continuation if the lower trendline of this smaller pattern breaks. Critical Levels: The support level around $2,486.793 (1HR LQZ) is critical for intraday trading. A break below this could lead to a sharper correction towards the lower boundary of the ascending channel on the daily chart. For bullish continuation, a clear break above the $2,530 - $2,540 resistance with strong volume would be needed to confirm further upside potential. Trading Strategy and Recommendations: Bullish Scenario: Look for a strong breakout above the $2,530 - $2,540 resistance on the daily chart, accompanied by increased volume and a break above the smaller continuation patterns (flags) on the lower timeframes. Enter on a reduced risk entry after a pullback to the breakout level, with stops placed below the recent consolidation range or the 1-Hour LQZ. Bearish Scenario: Watch for a confirmed Double Top breakdown on the 4-hour chart, with a clear break below the neckline support around $2,486.793. Consider short positions on the break of the neckline or after a retest of the breakdown level, with stops placed above the recent highs or the upper boundary of the descending channel on the 15-minute chart. Risk Management: Given the proximity to a key resistance level and the potential for a reversal, it is crucial to manage risk carefully. Use tight stops and consider reducing position size until a clear directional move is confirmed.
OANDA:XAUUSDEducation
by Adlercon333
2
Technical Outlook on XAU/USD: Rising Wedge and Ascending Channel1. Daily Chart (D1) Pattern Observed: There is a noticeable ascending channel forming. The upper boundary is marked by a series of higher highs (HH), and the lower boundary is marked by higher lows (HL). Resistance Zone: The chart indicates a key resistance around the 2,540–2,560 level, highlighted by the upper trendline of the ascending channel. Support Levels: Key support zones are marked around 2,267 (Weekly LQZ) and 2,353 (4HR LQZ), which coincide with significant price action in the past, potentially serving as strong support areas in case of a pullback. Market Behavior: The market is currently testing the upper trendline resistance of the ascending channel. A rejection from this level could indicate a potential reversal or a pullback to the lower boundary of the channel. 2. 4-Hour Chart (H4) Pattern Observed: The 4-hour chart also shows a more defined rising wedge pattern, which is typically a bearish reversal pattern when it forms in an uptrend. The price is trading near the upper resistance line of this wedge. Liquidity Zone: An important liquidity grab/rejection area is marked around 2,476, which aligns with previous price consolidations and rejections. This area could serve as a strong inflection point where price could either rebound or break below, leading to a deeper correction. Highs and Lows: A series of higher highs (HH) are visible, but the formation of a recent lower high (LH) could signal the start of a potential reversal if the price fails to create a new higher high above the previous peaks. 3. 1-Hour Chart (H1) Pattern Observed: The 1-hour chart presents a more detailed look into the price action within the wedge. The price action is currently within a tightening range, reflecting indecision and possible consolidation before a breakout. Support and Resistance: Near-term support is identified at the liquidity zone around 2,476, and the resistance aligns with the upper boundary of the wedge pattern. Potential Setup: A bearish divergence could be developing, given the price action nearing resistance while momentum indicators (not shown here) might start to flatten or decline. 4. Multi-Time Frame Analysis Higher Time Frame Influence: The weekly flag pattern identified on the daily chart is influencing the overall bullish bias. However, the rising wedge pattern on both the daily and 4-hour charts suggests caution as a potential bearish reversal could occur. Key Decision Zones: If the price breaks above the upper boundary of the wedge, it would likely aim for the next resistance levels around 2,560 and possibly beyond, towards 2,600+. Conversely, a breakdown below the wedge's lower boundary could accelerate selling towards the 2,353 and 2,267 levels, where major liquidity zones reside. 5. Trading Strategy Insights For Long Positions: Consider entries upon a confirmed breakout above the upper boundary of the ascending channel/wedge, targeting the next significant resistance levels. Utilize tight stop losses to minimize risk in case of a false breakout. For Short Positions: Look for bearish confirmation such as rejection from the upper boundary or a breakdown below the support trendline. Potential targets would be the 4HR LQZ and the Weekly LQZ, with stops above recent highs to protect against unexpected volatility. Conclusion: The current price action suggests a critical juncture where the Gold Spot (XAU/USD) is at a significant resistance area. Traders should watch for a breakout or breakdown from the wedge pattern on the 4-hour and daily charts to determine the next directional move. Keep an eye on volume and momentum indicators for confirmation, as well as news events that could influence gold prices.
OANDA:XAUUSD
by Adlercon333
Profitable Gold Price Action Strategy For Beginners To trade this Gold price action strategy, you need to learn just 2 simple things: support and resistance levels identification a couple of bullish and bearish price action patterns. In this article, I will share with you a complete guide for Gold trading with price action and reveal the best patterns for XAUUSD. Step 1 Your First task will be to execute complete structure analysis on a daily time frame. It means that you should identify all vertical and horizontal supports and resistances. From structure supports, we will look for buying opportunities. From structure resistances, we will look for selling the market. Above, you can see how a complete Gold support and resistance analysis should look. Step 2 Patiently wait for the test of one of these structures. In the example above, we see a test of Support. Step 3 Your next task will be to look for a price action pattern on an hourly time frame on one of these structures. You should look for a bullish pattern after a test of a structure support. You should look for a bearish pattern after a test of a structure resistance. Here is the list of classic bullish patterns that you should look for: falling wedge, bullish flag, double bottom, triple bottom, inverted head & shoulders pattern, cup & handle, ascending triangle. Once you identified a bullish pattern, simply wait for a signal - with horizontal patterns like a double bottom or cup & handle you should wait for a bullish breakout of its neckline - an hourly candle close above. With vertical patterns like a bullish flag or a falling wedge, you should look for a bullish breakout of its trend line - and hourly candle close above. Here is the list of classic bearish patterns that you should look for: rising wedge, bearish flag, double top, triple top, head & shoulders pattern, inverted cup & handle, descending triangle. Once you identified a bearish pattern, simply wait for a signal - with horizontal patterns like a double top or inverted cup & handle you should wait for a bearish breakout of its neckline - an hourly candle close below. With vertical patterns like a bearish flag or a rising wedge, you should look for a bearish breakout of its trend line - and hourly candle close below. Sometimes there will be the situation when you will encounter multiple patterns. The rule is that the more - the better. Above, we can see 2 bullish patterns on an hourly time frame, after a test of a key daily support on Gold: bullish flag pattern and cup & handle. The price broke the resistance line of the flag and a neckline of a cup & handle, giving us a strong bullish signal. Step 4 Open a trading position. Once you spotted a bearish pattern after a test of a key daily resistance, and a signal - a bearish breakout of a neckline or a trend line, sell Gold on a retest of a broken neckline/trend line. Stop loss will lie above the highs of the patterns. Take profit will be the closest 4H support. Once you spotted a bullish pattern after a test of a key daily support, and a signal - a bullish breakout of a neckline or a trend line, buy Gold on a retest of a broken neckline/trend line. Stop loss will lie below the lows of the pattern. Take profit will be the closest 4H resistance. In our example, a long position was opened on Gold on a retest of a broken neckline of a cup & handle formation. Stop loss lies below the lows, TP based on a 4H resistance. After some time, the price reached the target! This Gold price action strategy is simple and very profitable. Try this strategy by your own and good luck in trading Gold! ❤️Please, support my work with like, thank you!❤️
FOREXCOM:XAUUSDEducation
by VasilyTrader
1
XAU/USD Technical Analysis: Ascending Channel with Multi-TouchThese charts depict an evolving market structure for XAU/USD (Gold Spot) and highlight significant zones and patterns across multiple timeframes. 1. Key Patterns and Channels: Ascending Channel: A dominant ascending channel is visible on multiple timeframes. This is a classic continuation pattern, suggesting that as long as price remains within this channel, the prevailing trend (upward) is intact. The channel's lower boundary has been tested multiple times, reinforcing its validity as a support level. Weekly Flag: The “Weekly Flag” mentioned is a larger pattern that might suggest a continuation of a broader trend. Flags typically form after strong moves and consolidate before a potential continuation in the direction of the initial move. The flag is being “correctively broken,” which hints at a potential retest of the lower boundary or a reversal if the flag fails to hold. 2. Liquidity Zones (LQZ): 15M LQZ / Reversal Zone: This zone is near the current price and is a high-probability area for a reversal or significant price reaction. The price reacting to this level could determine the short-term direction. 1HR and 4HR LQZ: These zones are lower and represent potential targets or areas where the price might find support if it breaks down from the current structure. Daily and Weekly LQZ: These are even broader zones of interest. Their distance from the current price indicates that if the price moves toward these levels, a significant trend change or a large corrective phase could be unfolding. 3. Potential Scenarios: Bullish Continuation: If the price holds within the ascending channel and breaks above the “corrective break” in the weekly flag, this could lead to a continuation of the upward move, targeting new highs. Bearish Reversal: If the price breaks below the ascending channel and breaches the 15M LQZ, it might move towards the lower liquidity zones (1HR, 4HR), indicating a deeper correction or a trend reversal. Multi-Touch Confirmation and Advanced Pattern Recognition: Multi-Touch Confirmation : The chart shows multiple touches on the trendlines, especially on the ascending channel's lower boundary. These touches reinforce the trendline's validity and increase the likelihood of a significant move upon the next touch​. ADVANCED Pattern RECON: The "corrective break" within the weekly flag and the smaller internal channels within the larger ascending channel provide a "pattern within a pattern" scenario, which often precedes significant moves​. Conclusion: Monitor the 15M LQZ closely as it's a crucial area that could determine the short-term direction of the market. If price reacts strongly at this level, consider the implications for either a continuation (bullish scenario) or a breakdown (bearish scenario).
OANDA:XAUUSD
by Adlercon333
2