XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, GOLD went up very fast by BREAKING the TREND LINE, due to which US10Y went down.
We have some very important NEWS coming to USD this week. Be sure to keep an eye on it. So we have to wait a bit until we get them. US CPI DATA is very popular among them.
Anyway, with LABOR DATA DOWN, GOLD is going up slightly due to US10Y DOWN. Either way we expect GOLD to go UP to 1725. After that, GOLD may go down to 1580 LEVEL. Be careful..
Xauusdsignals
XAUUSD Close to a major bullish break-out!Gold (XAUUSD) closed on Friday above the 1D MA50 (blue trend-line) for the first time since August 12 that was practically the time that the stock market made its previous High. At the same time, Gold broke and closed above both the former Channel Down and Triangle patterns that we discussed where bullish break-out signals on our past analyses.
Despite the positives, the price remains within the long-term Channel Down pattern in late April. It is however the first time that the 1D MA50 breaks twice within a month during this 2022 downtrend. Also while the price was making a Triple Bottom on the 1615 - 1617 Support Zone, the 1D RSI has been rising on Higher Lows since September 26, a technical sign of a potential bullish reversal.
As a result the chances of the price breaking above the long-term Channel Down and testing the 1D MA100 (green trend-line) which has been untouched since May 09, are the best ever. That would be the major bullish break-out towards the 1D MA200 (orange trend-line). A closing within the Channel Down though, can target the Support again for a new re-test confirmation.
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XAUUSD New Week Possible Move#XAUUSD ( Gold / U.S Dollar )
Time Frame - H1
- LEADING DIAGONAL , Breakout the Upper Trend Line #UTL we need Wait for the Retest
- DOUBLE BOTTOM
Time Frame - H4
- RECTANGULAR CORRECTION and Almost reached the Upper Trend Line #UTL " DEMAND ZONE "
- Completed " B " Corrective wave and making " C " wave
Time Frame - Daily
- Following the " BEARISH CHANNEL " and Reached the Upper Trend Line
- ELLIOT WAVES , Completed the " 12345 " wave and Making " B " corrective wave
- Buying Divergence
XAUUSD Approaching a critical Resistance. Trading plan ahead!Gold (XAUUSD) has been trading within a Channel Down (blue) inside a Triangle pattern (dashed lines). The distinct characteristic is that the price hasn't had a 4H candle closing above the 4H MA200 (orange trend-line) since October 07. Even the recent attempts that broke above it (Oct 26/27 and Nov 02) failed to close above it and dropped emphatically back below the 4H MA50 (blue trend-line).
As a result, a candle close above the 4H MA200 would be the first bullish signal while one above the 1D MA50 (red trend-line), which is exactly on the top (Lower Highs trend-line) of the Triangle, would confirm it. In that case, we will target the top (Lower Highs trend-line) of the long-term March 2022 Channel Down (green line). Further break-out should test the 1D MA100 (yellow trend-line). Notice how the RSI on the 1D time-frame is on Higher Lows all this time, potentially accumulating a build-up for a major bullish break-out.
However, new rejection on the 4H MA200, will maintain the short-term bearish trend within the Channel Down and target the bottom (dashed line) of the Triangle pattern.
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XAUUSD 1H SELL PROJECTIONReason For XAUUSD GOLD Sell
1. Stochastic Oversold in 1h Time and crosses over the 80 and make the assset to fall
2. RSI 14 below 50 and move in sell trend in 1H
3. Breake the Triangle Pattern
4. Retest the Day Low of 1630 technically
Possible Outcome;
GOLD SELL 1638.34
SL 1644.00
TP 1628.50
XAUUSD Inverse Head and Shoulders calls for a Buy.Gold (XAUUSD) dropped below its 4H MA50 (blue trend-line) after failing to close a candle above the 4H MA200 (orange trend-line) and remains within a Triangle pattern (dashed lines) since the September 28 Low.
The 1D RSI remains on Higher Lows since that day so it gives some edge to the upside, which can come if the current short-term pattern gets confirmed as an Inverse Head and Shoulders. Technically, this is a bullish pattern found on market bottoms and calls for a rebound. If it is validated by a break above the 4H MA50, we can pursue one short-term target on the 4H MA200, one medium-term on the 1D MA50 (red trend-line) and if that breaks then the top of the long-term (since March) Channel Down (green) around 1690.
On the other hand, the slightest break below the Triangle's Higher Lows trend-line (dashed line), calls for a long-term sell targeting the 1W MA300 (red trend-line, scroll lower on the chart, currently at 1548).
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XAUUSD | Perspective for the new week | Follow-up detailsThis is a follow-up to our previous analysis where we were able to close the week with over 3,000pips in profit (see daily commentaries in the link below for reference purposes). Going into the new week, it is obvious that the yellow metal gained some bullish traction towards the end of the week, rising more than 1% on Friday as the dollar weakened amid reports of a potential debate amongst the U.S. Federal Reserve officials about the pace of rate hikes. Will the latest development be a reason to stake on the Gold in the new week?
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
XAUUSD LongUnfortunately, last analysis hit our stop loss.
The price touched the upper trendline, formed a bull trap and I was stopped out. The price continued with the bearish momentum, filling in the imbalance formed by this commodity around 28th September.
Currently, the price has been forming a bearish flag/ channel (lower time frames) of which I anticipate that the price might be building a bullish momentum. If the price breaks out of the highlighted zone (around 1640) and retests it, I will have my entry @ 1645. If not, then I will wait for the price to form a suitable bearish entry.
My target will be @ 1645, Tp1 @ 1660, Tp2 @ 1675 and Tp3 @ 1690. The Sl is @ 1630.
My R: R is 1: 4.
Remember, risk only 1-2 % of your account.
Signal Gold, XAUUSD 27/10/2022You are and have been following my strategy since the beginning of the week buy in position 1643 and area 1633, we continue to hold long position. Waiting to take profit at position 1693 and 1711. We will move Stop Loss to 1648 area to preserve profit.
My strategy today is to buy at 1663 zone with small volume waiting to take profit in 1681 and 1693 area. Stop loss 1653.
Signal Gold, XAUUSD 25/10/2022Gold met the 1643 support zone where there was a strong reaction of buyers. Currently, Gold price is at 1653 H1 chart showing growth signal. At the end of the 4-hour tree, the gold price closed above 1654, confirming that the gold price continued to grow to the 1673 resistance area today.
Conclusion to buy when H4 closes above 1654
Buy 1651-1653
TP:1671
XAUUSD Bullish Flag repeating prior fractal. $1690 next?Gold (XAUUSD) largely confirmed our sell signal below the 4H MA50 (blue trend-line) on our last week analysis:
1620 was hit and the price bottomed on Lower Lows while the 4H RSI was on Higher Lows, with this Bullish Divergence signaling the most optimal buy entry. As you see, the same Bullish Divergence was formed on September 28, with Gold rebounding instantly back to the 4H MA50, which is exactly what took place last Friday. The price is now waving a Bull Flag below the 4H MA50 again and if the pattern continues to repeat, we can expect a new rally wave targeting the 1D MA50 (which is currently at 1695) and the dashed Lower Highs trend-line from the October 04 High. The top of the long-term Channel Up (green) gives an upside limit at 1710.
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XAUUSDXauusd currently trading 1670, the current resistance is 1670 if price continue to trade below this resistance and on this supply zone i will be going short once price pull up to 1663 to 1669 .
but once the 1670 resistance breaks I will be looking forward for price to pull up further upward to 1680 before drooping back down to retest the broken resistance
on the daily time frame you can see the descending channel and 1680 is a major price point of interest, so expect the drop back down
XAUUSD | Perspective for the new week | Follow-up detailsAll attempts to upload a video on the XAUUSD failed as it keeps prompting network issues. So for the XAUUSD video kindly visit my youtub channel for details. Please note that I will be dropping updates on this analysis in the comment section of this broadcast in the new week. Cheers!
This is a follow-up video to my previous analysis where we closed the week with a profit of over 5,000 pips ( see daily commentaries in the link below for reference purposes). Gold has witnessed its worst-performing week in recent times as US Yield hit a 14-year high to close around the $1,640 zone. As we head into the new week, we are not sure if a trend continuation to the downside will be happening since there are no high-priority events that will be serving as a catalyst for price movement this week.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
XAUUSDXAUUSD has been ranging very close to 1640 support level, and if u look closely o the 1hr time frame you can see the chart forming a reversal partner which clearly showing a potential move to the upside.
I will be waiting for price to touch 1645 or very close to that before going long... expect price to hit 1680 .
another important price point to look out for is 1661, this will be the defining factor from which ever reaction we get at this price level determine if the up trend will hold or not
from 1680 will determine if price will continue to drop or not
XAUUSDQuick update on the current price on XAUUSD. after the drop earlier am expecting price to retrace abit towards the upside beforer dropping down further... expecting price to pull up to 1659 at this price point is best for a high probability sell set up.
once the current support @ 1640 breaks, I will be looking to add more sell positions as marked in my chart.
XAUUSD Bullish Divergence on RSI. Be ready to trade break-outs.Gold (XAUUSD) has been trading within a Channel Down since October 10 when it broke below its 4H MA50 (blue trend-line) and today it got rejected on its top (Lower Highs trend-line) and the 4H MA100 (green trend-line).
Even though this is a technical sell entry, we should be mindful of the 4H RSI which has been on a Channel Up since also Oct 10, meaning that there is a Bullish Divergence. Potentially this may signify a loss in strength for the downtrend and may see a bullish break-out soon.
The strategy is simple: continue selling below the 4H MA50 but buy if the price closes above it. Targets 1,620 and the 1D MA50 (red trend-line) respectively.
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XAUUSD | Perspective for the new week | Follow-up detailsIn anticipation of the NFP result on Friday, Gold plunged to about 50% retracement of the bullish momentum that started the week but still posted a second straight weekly gain as price action evolved into a reversal pattern just around the bearish trend line identified on the daily time frame. The current structure screams a possible downtrend continuation but I am very much open to the possibility of a bullish continuation after considering the last week's activities.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) is high-risk and unsuitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, and risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.