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Goldidea

What 1 hr chart says ?Fundamental Descriptions: Gold was up on Friday, as worrying U.S. GDP data drove some investors towards the safe-haven asset. However, the yellow metal is set for its biggest monthly drop since September 2021 as the U.S. Federal Reserve widely expected to aggressively hike interest rates. Month-end flows combined with profit-taking have triggered a sharp correction in the US dollar against its major rivals, aiding Gold Price to recover sizeable ground above the $1,900 mark. The dollar, which normally moves inversely to gold, was down on Friday but steadied off the 20-year high it reached against rival currencies during the previous session. Technical View: As of writing, gold is trading below 1920, which is our previous S2, now acting as a resistance. Any further upside may lead it to the level of 1925. Alternate Scenario: Break below 1907, may confirm bearish sentiment in gold during the session.
FOREXCOM:XAUUSD
by RASteven
What 1 hr chart says ?Fundamental description: Gold Price is attempting a recovery from two-month lows of $1,872, heading back towards the $1,900 threshold. Investors resort to profit-taking in their US dollar long positions following the latest upsurge while progressing towards critical America’s Q1 preliminary GDP release. The world’s largest economy is likely to see a dramatic slowdown in growth in the beginning of this year. If the US GDP prints a negative reading, the dollar rally could regain momentum, as recession fears could likely creep in and trigger a flight to safety across the board. Technical view: As of writing, gold is trading near our S2. In 1 hr time frame it is trading near upper line of Bollinger bands. Reversal from that level may be seen during the session. Alternate scenario: Bull may come forward to rescue gold in near term. But it will be interesting to see how strong they are in near term.
FOREXCOM:XAUUSD
by RASteven
What one hour chart says ?Fundamental Description: Fundamental remains almost same for the gold during past 20 hours. As we can observe from the movement of gold that it is trading in the range of $1896-$1907. ECB president Lagarde speech is due for today. Meanwhile, Russia halted gas supplies to Poland and Bulgaria until payment are made in Rubles. Headlines from Russia provided some support to gold as investors sought safe havens, but the war in Ukraine has not been as much of a bullish momentum. Short term technical view: On Tuesday, we have seen that the gold was not able to hold it upside bias. Yesterday gold was unable to breach 1915 level. I expect it to trade with bearish momentum in near term. Gold is still trading near S2. From a technical perspective, the metal's inability to capitalize on the move and acceptance below the $1,900 mark support bearish traders. Sustained weakness below the $1,890 horizontal support will reaffirm the negative bias and pave the way for additional losses. Alternate Scenario: Bull may come to rescue gold in near term. If it holds above $1911 level.
FOREXCOM:XAUUSD
by RASteven
More upside for the gold is on the card.Fundamental Description: We have seen bearish reversal for the gold (XAU/USD) during past few trading sessions. Gold is now vulnerable to rising Covid-19 cases in China and hawkish stance from federal reserve. As of writing, it is trading slightly above 1900 marks. It is still to be seen how it performs during the last few sessions of the month. The war in Ukraine resulted by the Russian invasion on Feb. 24 continues. While it warned that the risks of a nuclear war should not be underestimated, Russia said that it wanted to reduce those risks. Short term technical view: We have seen reversal from the intraday low of 1895.78. It may retest its previously support turned resistance level of 1915 during the session. As per technical, RSI is around mid level of 50 . During past few session, we have seen bearish pressure from the mid level of RSI. As U.S. CB Consumer confidence data is due for today, we may see spikes in prices for the gold. Any upside movement can lead to the level of 1915. My recommendations for the gold is to buy from the current level for the TP of S1 with the stop loss of S2. Those with bearish look can wait for the market reaction after the release of the U.S. data, with the target of S2 and stop loss above S1. Alternate scenario: If we are unable to get closing above 1915, then bear may come forward to take prices below 1900 level.
FOREXCOM:XAUUSD
by RASteven
1
Gold's Golden Rule Of 89% (Pack Your Bags For Big Ride)Gold's Golden Rule Of 89% Golden history of last 50 years have shown that Gold has give big move whenever there is a minimum 89% move from bottom. Chart is self explanatory. There are three successful incident of min 89% move and two unsuccessful incident of less than 89% move. Successful Incidents 1. 1970 - 1972 2. 1976 - 1978 3. 1999 - 2005 Unsuccessful Incidents 1. 1982 - 1983 2. 1985 - 1987 Fourth move in the making from 2015 - till date. So Gold is getting ready to fly again. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Editors' picks
FX_IDC:XAUUSDEducation
by MandeepSinghKohli
18
Short Gold Based on the current scenario we can clearly identify that Gold is approaching a major breakdown as it has its downtrend resistance at 1950, considering that we can acknowledge 1944 as a reversal point and soon in upcoming time we can expect this bearish trend to test all the levels up to 1890. The Best thing is to stay bearish with a stop loss 1950, and if it breaks the 1950 level and the next 1 hr candles survive over it we can consider it as a successful breakout and then be bullish again considering this as a minor pullback. So right now it would be best if we sell gold, trade at your own risk.
FXOPEN:XAUUSDShort
by Leokin3
Bearish Flag & Head & Shoulders Patterns on Gold What are these signals based on? Classical Technical Analysis Price Action Candlesticks Fibonacci RSI, Moving Average , Ichimoku , Bollinger Bands Head and Shoulders Pattern Bearish Flag Pattern Trading Setup: There is a Trading Signal to Sell in Gold XAUUSD. Traders can open their Sell Trades NOW ⬇️Sell Now or Sell on 1944.77 ⭕️SL: 1968.26 🔵TP1: 1877.45 🔵TP2: 1850.00 🔵TP3: 1800.20 previous signal If you liked our ideas, please support us with your likes 👍 and comments.
OANDA:XAUUSDShort
by pullbacksignal
Gold at 2600?From 1150 level back in August 2018, Gold rallied up to 2075 highs in August 2020. After that peak it corrected to 1860 in March 2021. 1860 became the short term bottom for the price as price found support there twice in March. Later in August and September price found support twice in the 1730 zone as marked on the chart. The bullish flag pattern would remain valid if the depth of the flag retracement holds above the 50% level, above 1600. It seems that price has closed above the down trending line on the weekly chart. _______________________________________________________________________________________________________________________________ Price action in the daily timeframe could again pullback in the flag area and consolidate further before moving ahead and breaking out. This is not a short term trading but an investment idea, the target projected from the mid of the flag would be close to 2600 and should be achieved within 2 years from the point of a successful breakout. One could accumulate slowly at current levels. _______________________________________________________________________________________________________________________________ Like and follow for more. :)
TVC:GOLDLong
by Tradeception_
Gold Trading Plan for 3-4 Feb 2022OANDA:XAUUSD has been trading in a very tight range over the past 2 day - which can be observed from the markings on my chart. The Day Highs and Day Lows of the past 2 days have actually been roughly the same. This makes the Previous Day High (PDH) and Previous Day Low (PDL) from today's perspective very good breakout levels - which I have marked on the chart. The zone between these two price levels is a strict "No Trade Zone"; this has been marked on the chart as well. If XAU/USD crosses/opens or stays above the PDH , we will be looking for long opportunities and if XAU/USD crosses/opens or stays below the PDL , we will be looking for short opportunities. Entry criteria: Bullish case: Breakout above PDH on 5 minute chart to be followed by retracement which in turn would be followed by a 5 minute candle close above the DAY HIGH. Since the market has already opened with a gap now I will only be looking for a retracement followed by Day High Breakout. Bearish case: Breakout below PDL on 5 minute chart to be followed by retracement which in turn would be followed by a 5 minute candle close below the DAY LOW. Stop Loss criteria: Ideally the stop loss should be palced just below (in bullish case) or just above (in bearish ) the nearest retracement on the spot chart; this is a just a guide though - in some cases you might actually have to deploy your own discretion. Take profit criteria: One may book 1/3rd quantity at 1:1 RR, 1/3rd based on 5 minute candle close above EMA 15 (in bearish case) and below EMA 15 (in bullish case) and 1/3rd based on dynamically adjusting stop loss based on typical trend trading strategies. Also after 1:1 RR has been acheived one may choose to adjust max SL to cost. Please note the given zones are valid only until the end of the day. For today, I am biased towards the upside. But like always - I trade the price and the system and not my expectations.
OANDA:XAUUSDLong
by abhineetramjiwal