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PPI - will Gold prices continue to adjust downward?⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold price (XAU/USD) fell on Wednesday due to strong US consumer inflation figures, which reduced expectations of a rate cut by the Federal Reserve. However, it recovered during the Asian session on Thursday amid a weaker tone in equity markets. The prolonged higher interest rates by the Fed and concerns over the Middle East crisis are causing investors to turn to Gold as a safe-haven asset. Additionally, profit-taking in the US Dollar and lower US Treasury bond yields are also supporting Gold. Traders are now focusing on the US PPI data and Fedspeak for potential trading opportunities. ⭐️ Personal comments NOVA: After yesterday's CPI data, suddenly all is well for the dollar. Today, another index assessing the level of US inflation PPI is predicted to continue to be positive for the dollar. Gold is under downward pressure ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2305 - $2303 SL $2297 TP1: $2312 TP2: $2320 TP3: $2330 🔥SELL GOLD zone: $2353 - $2355 SL $2360 Asian and European trading sessions TP1: $2345 TP2: $2338 TP3: $2330 ⭐️ 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 - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
5
Gold Correction Due - before this week market closePEPPERSTONE:XAUUSD Following the principles of #ElliotWaves, when waves 1 and 3 form without any extension, then wave 5 tends to make approximately the same magnitude in the same amount of duration. Wave 1 - Magnitude - ~ $76+ in ~ 2 D and 17 hrs Wave 5 - Magnitude also made ~ $76+ (Short of 60 cents) in ~ 2D 11 hrs as of this post. In this scenario, when there was no extension in the impulse waves, the correction would be till 0.618 to .50 Fib Retracement Level 2226 - 2200 Range.
PEPPERSTONE:XAUUSDShort
by MendiUser
3
Gold price approaches $2,300 price expectation⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) has surged to record highs of nearly $2,250 per troy ounce in the early Asian session on Monday. This increase is driven by several factors, including the anticipation of a shift in monetary policy by the Federal Reserve (Fed) in the second half of 2024, ongoing geopolitical tensions in the Middle East, and hopes for China's economic recovery. The possibility of central banks implementing looser monetary policies could further drive up the price of gold. Currently, financial markets have factored in a 68.5% chance of a quarter-point interest rate cut by the US Fed before June, according to the CME Fedwatch Tool. Fed Chairman Jerome Powell affirmed on Friday that the recent inflation data in the US aligns with their expectations, maintaining their stance on potential interest rate cuts this year. It is important to note that lower interest rates could make gold a more attractive investment since it doesn't generate interest. ⭐️ Personal comments NOVA: The FOMO from the market is huge, the new peak of Gold is gradually reaching $2300 according to experts. ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2236 - $2234 SL $2230 TP1: $2242 TP2: $2255 TP3: $2267 🔥SELL GOLD zone: $2265 - $2267 SL $2272 TP1: $2260 TP2: $2250 TP3: $2236 ⭐️ 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 - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
12
Tilray approaching a swing trade and/or shorting opportunityNASDAQ:TLRY is approaching a resistance range and is at the top of a W pattern. It's rsi is also overbought above the 70 level. Volume is also trending upwards and has reached the level where the previous volume high (and price trend reversal) was. The trading opportunity is around the 3 scenarios shown in the chart, with, due to the technical indicators mentioned above, scenario 2 and then 3 being the most likely. Trading approach would be to wait until after the quarterly earnings are released and see if: Scenario 1 The price breaks above the resitance range, apply a 3 day filter to ensure it's not a fakeout, and swing trade upwards to approx. $3. Scenario 2 A more likely scenario, the price starts to decline and enter then enter into a short with a take profit at $1.60. Exact entry point for the trade might be difficult to determine, especially as the previous moves in price have been so explosive that there may not be an optimum tim eto enter, thus shorting would be a higher risk trade. Scenario 3 Wait until the price reaches the support level since November 2023 (approx. $1.6) and enter a swing trade back up to the resistance range with an exit at approx. $2.5. To reduce risk, enter the swing with a combination of the RSI being at 30 and/or a 3 day filter to reduce the risk of the price breaking down from $1.6 to a new low. Scenario 3.5 Same as scenario 3 but with the support level being around the DMAs and price range where the price movement faced some resistance on it's way up during mid-March 2024. A more likely scenario, the price starts to decline and enter then enter into a short with a take profit at $1.60. Exact entry point for the trade might be difficult to determine, especially as the previous moves in price have been so explosive that there may not be an optimum time to enter, thus shorting would be a higher risk trade. NOTE: Those with a risk appetite large enough may use the technical indicators mentioned in the first paragraph as enough of a comfirmation to enter a risky short trade: Entry point: Now ($2.45) Stop Loss: $2.70 Take Profit: $1.60 Risk:Reward ratio: 1:3
NASDAQ:TLRYShort
by slip_stream
5
Gold moves in a wide range, sideways⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) is struggling to take advantage of the small gains made the previous day and is moving within a narrow range around the $2,170 mark during the Asian session on Tuesday. However, caution is advised before placing aggressive bearish bets on the precious metal and expecting a continuation of the recent significant decline from the record high near the $2,223 area reached last Thursday. Last week, the Federal Reserve (Fed) projected a less restrictive monetary policy in the future and indicated that it remains committed to reducing interest rates by 75 basis points this year. As a result, the US Dollar (USD) bulls are on the defensive, which benefits the non-yielding gold price. Additionally, escalating geopolitical tensions are supporting the safe-haven XAU/USD and should help limit any significant downward movement. ⭐️ Personal comments NOVA: The price range of $2150 - $2190 becomes the sideway range of Gold price, waiting to break the trend ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2150 - $2152 SL $2145 TP1: $2160 TP2: $2170 TP3: $2180 🔥SELL GOLD zone: $2188 - $2190 SL $2195 TP1: $2180 TP2: $2170 TP3: $2160 ⭐️ 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 - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
3
Gold price sideway is stable above $2150 - $2180⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) remains above the mid-$2,100s in the early hours of Asian trading on Monday. The increase in the value of the yellow metal is supported by the likelihood that the US Federal Reserve (Fed) may reduce interest rates later this year. Traders are anticipating the release of the US Gross Domestic Product (GDP) figures for the fourth quarter (Q4), which are expected to stay stable at 3.2%, in order to gain new momentum. Currently, the price of gold is trading around $2,168, with a gain of 0.15% for the day. Last week, after its March meeting, the Fed decided to keep its benchmark interest rate unchanged within the range of 5.25% to 5.50% for the fifth consecutive time. Fed Chairman Jerome Powell hinted that the central bank was planning three interest rate cuts in 2024, which increased investor demand for the precious metal and caused the price of gold to rise. According to the CME FedWatch Tool, investors have priced in a 72% chance that the Fed will begin cutting rates at the June meeting, up from 65% before the rate decision. ⭐️ Personal comments NOVA: After the terrorist incident in Russia, Gold price increased slightly and returned to above $2170. Stable sideway $2150 - $2180 continues to wait for new moves and information from the FED ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2150 - $2152 SL $2145 TP1: $2160 TP2: $2170 TP3: $2180 🔥SELL GOLD zone: $2183 - $2185 SL $2190 TP1: $2175 TP2: $2165 TP3: $2150 ⭐️ 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 - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
1
Gold price continues to adjust !! XAU decrease⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) is facing difficulties in taking advantage of the rebound it experienced from the support level of the 100-hour Simple Moving Average (SMA) around the $2,166-2,165 range. Instead, it is declining during the Asian session on Friday. Despite the Federal Reserve's (Fed) policy update on Wednesday, investors are shifting their focus away from it as the US Dollar (USD) has shown a strong comeback due to optimism surrounding the growth of the US economy. This, coupled with the higher yields of US Treasury bonds and the prevailing risk-on sentiment, are the main factors causing downward pressure on the safe-haven precious metal. ⭐️ Personal comments NOVA: Gold price after creating a new peak at $2222, decreased immediately then returned to the $2170 area. Currently, economic data is still supporting the dollar Information, FED keeping interest rates unchanged and world political tensions are still the driving force for Gold prices to increase in the near future. The DOWN correction is likely to continue today ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2147 - $2145 SL $2140 TP1: $2155 TP2: $2162 TP3: $2170 🔥SELL GOLD zone: $2193 - $2195 SL $2200 TP1: $2185 TP2: $2170 TP3: $2160 🔥SELL GOLD zone: $2188 - $2186 SL $2191 scalping TP1: $2184 TP2: $2180 TP3: $2170 ⭐️ 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 - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
11
EUR / JPY !! SELL NOW resistance zone ⭐️ Smart investment, Strong finance ⭐️ EUR/ JPY INFORMATION: The price touched the long-term resistance zone H4, overbought. There is no important economic news on EURJPY, setting up a SELL signal ⭐️ SET UP EUR/ JPY PRICE: 🔥SELL zone: 163.450 - 163.600 SL 164.000 TP1: 163.100 TP2: 162.800 TP3: 162.500 ⭐️ 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 - The winner is the one who sticks with the market the longest
Short
by Nova-Scalper
3
XAU is in a short-term DOWN trend⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold price (XAU/USD) hovers around $2,155 in early Asian trading on Monday. US inflation data suggests a potential delay in interest rate cuts by the Federal Reserve (Fed), causing a downtick in the yellow metal. However, positive developments in Chinese stimulus measures or strong demand from China could lift gold prices. The Fed may hold its interest rate at the March meeting, as they need more evidence of inflation easing before considering a rate cut. This could diminish the appeal of non-yielding metals and impact gold prices. ⭐️ Personal comments NOVA: Gold price broke through the $2,150 support zone in the opening session of the week. Shows that the corrective DOWN trend continues to prevail ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2135 - $2137 SL $2130 TP1: $2142 TP2: $2150 TP3: $2160 🔥SELL GOLD zone: $2163 - $2165 SL $2170 TP1: $2155 TP2: $2148 TP3: $2140 ⭐️ 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 - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
7
Friday of volatility! Gold adjusted DOWN⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) faced renewed selling pressure on Thursday and declined closer to the weekly low in response to the US Producer Price Index (PPI), which was higher than expected. This data indicated persistent inflation and dampened market expectations for early interest rate cuts by the Federal Reserve (Fed). As a result, US Treasury bond yields rose, boosting the US Dollar (USD) and prompting investors to move away from gold, which does not generate interest. However, the markets still believe there is a higher likelihood that the US central bank will begin cutting interest rates in June. This, combined with a risk-off sentiment, helped attract some buyers for gold before it reached the $2,150 level, leading to a slight positive bias during the Asian session on Friday. Nevertheless, the XAU/USD remains within a familiar range as traders await more clarity regarding the Fed's stance on rate cuts before making any significant moves. Consequently, all eyes are on the upcoming FOMC meeting next week. ⭐️ Personal comments NOVA: Positive data for the dollar this week, caused Gold to correct DOWN. In line with the technical chart, Gold prices continue to decline ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2137 - $2135 SL $2130 TP1: $2145 TP2: $2152 TP3: $2160 🔥SELL GOLD zone: $2170 - $2172 SL $2176 TP1: $2164 TP2: $2155 TP3: $2146 🔥SELL GOLD zone: $2188 - $2190 SL $2195 TP1: $2180 TP2: $2170 TP3: $2160 ⭐️ 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 - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
6
PPI - Continue to adjust DOWN XAU⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Traders may also be hesitant and inclined to wait on the sidelines prior to the commencement of the two-day FOMC monetary policy meeting, scheduled to begin next Tuesday. In the interim, the release of Thursday's US macroeconomic data, including the monthly Retail Sales, the Producer Price Index (PPI), and the customary Weekly Initial Jobless Claims, could potentially impact the dynamics of the USD price. These factors, along with US bond yields and overall market sentiment, may play a role in creating short-term trading prospects within the Gold price. ⭐️ Personal comments NOVA: Continuing to expect a correction from Gold, US economic data this week is assessed optimistically Need price range of $2100 for Gold to accumulate more buying power ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2146 - $2144 SL $2140 TP1: $2150 TP2: $2155 TP3: $2160 🔥BUY GOLD zone: $2136 - $2134 SL $2130 TP1: $2145 TP2: $2152 TP3: $2160 🔥SELL GOLD zone: $2198 - $2200 SL $2205 TP1: $2180 TP2: $2165 TP3: $2150 ⭐️ 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 - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
2
Gold price - CPI waits for a DOWN adjustment⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices remained relatively unchanged towards the end of the North American session as traders prepared for the release of February's US Consumer Price Index (CPI) data. It is expected that the headline figures will remain unchanged, while core data is anticipated to cool down. This could put pressure on the US Dollar and provide a boost to XAU/USD. Currently, the price of Gold is trading at $2,180.60, showing minimal movement. In the previous week, the price of Gold reached a record high of $2,195.15, just shy of breaking the $2,200 mark. This occurred after Jerome Powell, Chair of the US Federal Reserve (Fed), testified at the US Congress and acknowledged that inflation was decreasing. Powell mentioned that eventually, the Fed would begin to implement more accommodative policies, but stressed that the central bank's decisions are reliant on data. Despite expressing confidence that inflation is gradually decreasing, Powell emphasized that there is no urgency to lower borrowing costs. ⭐️ Personal comments NOVA: US CPI data assesses the current level of inflation. It's time for a DOWN adjustment to create liquidity for the market ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2135 - $2137 SL $2130 TP1: $2142 TP2: $2150 TP3: $2160 BREAK OUT price range: SELL: $2175 BUY: $2185 🔥SELL GOLD zone: $2198 - $2200 SL $2205 TP1: $2190 TP2: $2175 TP3: $2160 ⭐️ 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 - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
2