XAUUSD: SellInitial jobless claims are about to be announced. From a technical perspective, the trend of gold today is biased towards the short side, but there is uncertainty in the data.
If it is negative for gold, then it will follow the trend and have a sharp decline, and it is expected to fall below 1950.
If the data is bullish for gold, there is a high probability that it will fall back after rising, so today we focus on short trading.
If you don’t want to take risks, you can wait until the data is released before trading. Those who like risk-taking can trade short positions in advance to control risks.
Good day and good luck!
Xauusdsignals
GOLD - Gold trading strategy on November 16World gold prices increased today (November 16), but conflicting US inflation data is increasing volatility and risk for precious metal investors.
Traders' and investors' attitudes were more optimistic midweek following reports that the US consumer price index for October increased 3.2% year-on-year. CPI is forecast to increase 3.3% year-on-year, compared to a 3.7% increase in the September report. October PPI fell 0.5% from September compared to expectations of a 0.0% increase. 1% during this period. CPI and PPI data met the expectations of those who wanted to see the Federal Reserve pause its interest rate tightening cycle. Now, many Fed market observers believe that the US central bank will continue to pause interest rate increases in the coming months.
US stock indexes were higher and at multi-week highs in midday trading, following sharp gains posted on Tuesday.
XAUUSD:It has the potential to form a double top
The 1957 support level is confirmed, and the rebound tests the resistance near 1965. If it cannot break through, it will form a double top pattern. If it breaks through and performs a backtest to confirm that the 1965 support is valid, it will rise again and break through 1980.
XAUUSD:Sell 1981-1986, Buy 1969-1963
Hello everyone, welcome to Allen's strategy column.
Yesterday I shared with you today's trading plan, focusing on the resistance from 1974 to 1989, and also talked about the trading direction. I am more inclined to rise. The market is in line with expectations. The support was tested during the Asian and European trading periods, with the lowest at 1961.It has not fallen below 1957, which is very good.
Now it is above 1970, which is very close to the resistance of 1974. If it can be maintained above 1969 before the start of the US market, then there is a very good chance of testing around 1979-1981 when the US market opens. .
Trading signals: Sell 1981-1986, Buy 1969-1963.
If you encounter a problem that cannot be solved, you can tell me and I will try my best to help you.
Good luck to everyone!
gold trading strategy
Today it started to rise after backtesting the support of 1961. Now it faces the resistance of 1974 and is trying to break through. From a morphological point of view, the probability of breakthrough is greater, so the transaction should be to fall back and go long ( 1971, 1969, 1966 ), with the target set at 1979, 1984, 1987.
XAUUSD Retracement almost completed. Sell opportunity.Gold (XAUUSD) took advantage of the lower than expected U.S. CPI and rose aggressively back above both the Channel Down and the 4H MA50 (blue trend-line) but not before hitting our Lower Low target within the Channel Down (see chart below):
Even though this rise is more based on fundamentals than technicals, the price is approaching the 0.618 Fibonacci retracement level where the previous Channel Down break-out formed a top and reversed (September 01 2023). If fundamentals continue to influence the market more, then we might see Gold rise a little more, until the 4H RSI gets close to 80.00, but the upside is limited. You can start selling with a first short-term target the 0.236 Fib ay 1947.50.
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Gold looks ripe for a pullbackGold prices rallied nearly 11% over a 3-week period into the cycle highs. Yet the characteristics of its clean, strong bullish move have been replaced with choppy price action since it failed to hold above $2000.
A shooting star formed on Friday following its false break of $2000 to form a lower high on the daily chart. And this was followed by a bearish engulfing day on Monday to show momentum is trying to turn lower.
Given the strength of the initial move, I suspect gold needs to pull back. The highs around $1950 make a ideal initial target for countertrend trade, whilst prices remain beneath Friday's 'shooting star' high.
We can reassess its potential for a swing low if prices pullback and respect support.
GOLD (XAUUSD): Intraday Outlook & Trading Plan 🥇
Update for Gold.
Earlier, we spotted a confirmed violation of a key horizontal support.
Retesting the broken structure, the price formed a narrow horizontal range on a 4H time frame.
Its support breakout - 4h candle close below 1931 - will give you a strong intraday confirmation.
A bearish continuation will be anticipated to 1923 / 1916 levels then.
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XAUUSD Is the pull-back completed?Almost 10 days ago we made a bold (at the time) bearish call (see chart below) for a short-term pull-back on Gold (XAUUSD) towards the 1W MA50:
The yellow metal has so far responded positively to this call as it dropped below the 4H MA50 (blue trend-line) to 1945. The Channel Down pattern that emerged is using the 4H MA50 as its Resistance/ Lower Highs trend-line and until it breaks, we should be expecting a continuation. Oversold 4H RSI readings will always give technical bounces like yesterday's but as long as the 4H MA50 holds, it is more likely to see Gold test the 4H MA200 (orange trend-line) on the 0.382 Fibonacci retracement level at 1933. If the 4H MA50 does break and closes a candle above it, we will buy and target 1995.
Notice how the Channel Down pull-back is similar to the declines of July - August, May and April. The 4H MA50 served as the Resistance and in the case of April, it did test the 4H MA200.
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XAUUSDWillson came to visit bro 😁
Gold and silver have fallen over the past few weeks as the geopolitical advantage that built up in both metals following the Hamas terror attack on Israel early last month has begun to ease. This is because the situation in the Middle East, while still tragic, has not yet turned into a broader conflict involving other countries, such as Iran or Lebanon.
XAUUSD - Gold trading strategy, selling trend continuesWorld gold prices this morning continued to decline with spot gold down 19.3 USD to 1,949.4 USD/ounce. Gold futures last traded at 1,955.7 USD/ounce, down 17.8 USD compared to yesterday morning.
The gold market witnessed its third consecutive decline as investors looked for new signals about the US Central Bank's interest rate stance.
Daniel Ghali, commodity strategist at TD Securities, said that traders will start looking at economic data and potential actions from the US Central Bank and gold will react based on whatever data brings. According to this expert, it is difficult for gold to gain momentum if data does not show economic weakness.
Recently, in their speech, a series of US Federal Reserve (Fed) officials kept a balanced view on the central bank's next decision, but noted that they will focus more on more on economic data and the impact of higher long-term bond yields.
Gold is an asset that is very sensitive to rising US interest rates because they increase the opportunity cost of holding non-interest bearing assets like gold.
The secret to making 200K profitHello everyone, this is Antonio. Because the original TradingView account expired, I stopped updating articles for a while.But my trading did not stop.To be honest, I am not a financial writer, but a loyal trader, so I pay more attention to combining the market to develop my own trading plans and trading signals, and I am keen to participate in market trading.
Fortunately, in the past three months of trading, I have made a profit of more than$200K, which I think is a good number.Of course, I occasionally lose money during the trading process, but I have always been clear about my goals, strictly follow the trading plan, implement risk control management, loyal followers with a 95% winning rate, and strive to achieve the goal of a stable weekly profit of$20K.So one thing I often say is to walk with wealth and make a profit in the most correct way!
For the current gold market, gold has now stepped out of the 1990-1980 price range and has chosen to run downwards. It is currently trading near the 1965 position.Then according to the current trend structure, gold has not shown a low point, then gold will still seek support downwards, and gold is bound to touch the 1953 position, or even near the 1945 position.Then when we participate in gold trading, we only need to follow the trend and short gold at high levels.The top first pays attention to the resistance of the 1974-1976 area, and the bottom first observes the defense of the 1960 position.
In fact, as long as you grasp the rhythm, it is easy to profit from gold trading. If you don't know the exact rhythm of trading, you can execute it according to my trading ideas.I will post my trading ideas every day, and I will also post free trading signals on time.Many friends have very helpful feedback.If you want to learn the logic of market trading, or you want clear trading signals and get more profits, I can satisfy you, be sure to follow the bottom of the article to view the details!
Golden Monday Strategies and Signals
Gold, last Friday's non-agricultural benefit was good for gold, once again showing the momentum of an upward breakthrough, and it started to retreat after hitting the highest level near 2004. Unfortunately, this upward wave did not have too much continuity, but the speed of the retreat was also too high. Soon, as the saying goes, the long and short positions in the short term will once again fall into a certain degree of shock. There is not much controversy in the follow-up on Friday night, it is just a small shock, and for now , Friday’s counterattack is likely to be the last washout for the shorts. Judging from the support effect of the daily line, the upward strength of the bulls has weakened, the support effect is somewhat shaky, and the key pressure port above will also remain at the 2000 line , then this position will also be an important suppression point for gold next week, and the support below is also Friday’s upward starting point 85 line. At present, the overall trend is still bearish on the market, and next week gold will still be around below 2000 Go short.
Short-term operation strategy:
sell1999-1997 sl2005.5, tp1988-1985
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XAUUSD Channel Up into Head and Shoulders? Which will prevail?Gold (XAUUSD) is heading into today's Nonfarm Payrolls (NFP) report trading on a Head and Shoulders (H&S) within a Channel Up pattern. Even though the volatility will be great coming into the report, we should trade this on a candle closing approach.
A 4H candle closing above the 1993.50 Symmetrical Resistance, will be a bullish signal, targeting 2020, which will be a typical +2.70% rise as the previous two bullish legs of the Channel Up.
A 4H candle closing below the 1970 neckline and more importantly the 4H MA100 (green trend-line), will be a bearish signal for us and we will target the 1D MA50 (red trend-line) at 1930.
Note that the 4H MACD just formed a Bullish Cross. However the previous one on October 27 failed to turn the trend bullish and instead formed the (so far) top of the Channel Up.
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XAUUSD High chances for a short-term pull-back.Gold (XAUUSD) is having an remarkable 3 week rally after a technically flawless hit-and-rebound on the 1W MA200 (orange trend-line) on the week of October 02. Obviously, this rally has been stretched by the geopolitical unrest in Middle East and isn't purely technical on its full range, but besides the small fundamental correction we should see once peace is restored, there are a few important conclusions we can make from similar technical situations in the recent past.
For the past +3 years (since the August 2020 High), Gold has seen another 6 similar rallies (+10.53% to +14.12%). Of those 6 only 2 formed a 1W MACD Bullish Cross, such as the rally we are currently at. Even the 3 rallies after the September 26 2022 bottom that were on an uptrend, delivered short-term corrections to at lest the 0.382 Fibonacci retracement level. This time the 0.382 Fibonacci level is marginally below 1940 and can be your target.
If the current rally is indeed the start of a new multi-month bullish sequence to new All Time Highs (ATH), then a hit-and-rebound at 1940 would be ideal technically, as it will test successfully the 1W MA50 (blue trend-line), which is the standard Support level during long-term uptrends.
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XAUUSD UPTRENT CONTINUE V BOTTOM 29.10Reason Behind XAUUSD Bullish Continue
1. Market Clearly Breaked Trendline @ 1925
2. Uptrend Continued since it breaked the Resis 1060 later 1980
3. Single Bullish Spinning Top candle confirms the further High
4. Three white Soldiers Confirms the asset make the correction and move the Swing High
5. Continue V Bottom Confirms the futher Pullback and retest @ 1980 and make Ath
Overall Possible Outcomes
XAUUSD BUY @ 1980-90
SL 1960
XAUUSD | GOLDSPOT | New perspective | follow-up detailsOn Thursday, Fed Chair Jerome Powell joined his teammates in endorsing a stable interest rate policy, providing further support for the XAUUSD. Amidst increasing geopolitical risks, with the conflict between Israel and Hamas spreading to more countries in the region, Gold extended its weekly rally and reached the $1,990 area for the first time in five months on Friday. This surge in Gold prices is driven by safe-haven flows as investors seek to reduce risk exposure, combined with a downward correction in US yields.
Additionally, Atlanta Fed President Raphael Bostic has indicated the possibility of a rate cut in 2024, suggesting a potential shift in monetary policy if economic conditions warrant it. Cleveland Fed President Loretta Mester has also expressed that the Federal Reserve may be at or near the peak of its rate hike cycle, emphasizing that the central bank will closely depend on incoming data for its decision-making process in the next monetary policy meeting.
As we look ahead, this week's economic calendar will feature key events such as US flash PMI data, the release of Q3 Gross Domestic Product (GDP) on its preliminary reading, Durable Goods Orders, unemployment claims, and the Fed's preferred gauge for inflation, the core PCE.
XAUUSD Technical Analysis:
In this video, we dissected the XAUUSD chart from a technical standpoint, analyzed the key levels, analyzed historical price moves, market behaviors, and buyer-seller dynamics, and uncovered potential trading opportunities.
The $1,985 zone will remain our center stage for this week. Its historical significance makes it a crucial point. If the bullish momentum is sustained then the breakout of the $1,985 will serve as a platform for new highs. However, if selling pressure persists below $1,985 just as it had done in the last 5 months $1,900 we could witness renewed selling pressure back into the demand zone at the $1,900 zone.
Stay tuned for more thrilling updates on the Gold market! Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼
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