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Goldtradingstrategy

🔥Gold will have major correctionsFrom a technical analysis, gold has been seriously overbought, not only on the daily and hourly charts, but also on the weekly level. In the past month or so, gold's crazy rise has been mainly based on expectations of an interest rate cut by the Federal Reserve. The trend of gold hitting new highs has caused the entire financial market to be shrouded in the strength of gold. Although this extreme emotional trend looks very strong on the surface, in actual operation it is not easy to find suitable entry opportunities, making it difficult for traders to make decisions. The daily chart continues to rise, and technically it also needs to be adjusted. At present, after the continuous high fluctuations on the 4-hour chart, the K-line has begun to show signs of gradually falling below the short-term moving average. The strength and persistence of the price rebound after touching the previous support band are not too great. In terms of short-term trends, There are signs of gradually weakening. The 1-hour chart shows a certain degree of divergence, with the K-line gradually falling below the short-term moving average, indicating that gold will continue to adjust to a certain extent in the short-term trend. Gold rebounded to around 2360 today and then quickly fell back. The rebound highs were successively lowered, indicating that the bulls began to weaken. At the same time, the United States will release heavyweight CIP data today. If the data is negative for gold, it is expected to peak in the short term, and adjustments will be carried out next. On the whole, today's short-term operation of gold is mainly short-selling on rebounds, supplemented by long-selling on callbacks. The top short-term focus is on the 2360-2365 resistance range, and the bottom short-term focus is on the 2338-2342 support range.
OANDA:XAUUSD
by JackBlackwell
🔥Gold Analysis Strategy for April 9The current fluctuations in gold prices are mainly affected by market news, and the rise and fall depend on the intensity of the selling. whether it is the impact of risk aversion caused by war factors or the economic impact of whether the United States cuts interest rates, it is undoubtedly supporting gold. If it continues to rise, then as long as there is no major bad news in the market, gold will not have a major correction. Therefore, whether it is short-term or long-term, we will continue to be bullish on gold! Gold is currently rising directly to a new high. The support point of gold has gradually moved up from around 2330 yesterday to around 2345 now. The current daily trend of gold maintains a volatile and strong pattern, and the intraday price fluctuations are large. On the 4-hour chart, the price of gold is temporarily fluctuating at a high level within a narrow range, and the K-line continues to remain strong above the short-term moving average. On the 1-hour chart, after continuous shocks, the technical form is gradually repairing, and the K-line gradually stabilizes the short-term moving average, suggesting that the short-term trend is still possible to continue upward. The 30-minute chart shows that the double top has been broken through, and a support point has been formed near the previous strong top of 2345. As long as the price remains above 2345, it is an opportunity to go long on dips. Although there is momentum to continue rising in the short term, the higher the high, the greater the risk, so be sure to bring a stop loss, because there is no resistance reference above, so it is not sure where the high point will be. In summary, the short-term operation of gold today is mainly based on callback longs, supplemented by rebound shorts. The top short-term focus is on the 2370-2373 resistance range, and the bottom short-term focus is on the 2345-2347 support range.
OANDA:XAUUSD
by JackBlackwell
MCX GOLD - Profit Booking on Cards?MCX Gold has rallied one way from 62000 to 66000 in last 8 days without any major retracements. This sharp up move can not sustain without a good retracement. Dollar Index is also trading at a major support zone of 102.500 so there's very high chance that we might see a correction very soon. Here's a trading opportunity. GOLD CMP - 65950 I'm taking short position in Gold April Future at CMP 65935. Will add more position if 66100 comes. Holding with Stoploss 66300. I'm expecting minimum 1000 point correction in Gold very soon. Gold 65000 PE is currently trading at 345. I'm taking some position in it too. I'm expecting it to get double by next week. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
MCX:GOLD1!Short
by akshit_official
10
Plan Trading Gold 7 MarchYesterday's candle was a strong green one, with a range of 27 pips and a body of 20 pips. Notably, it broke through the previous peak at 2149, reaching 2152. The trading volume for three consecutive days was consistently higher than the average, indicating a strong upward trend for gold prices. Regarding news: Yesterday had three pieces of news— one negative for the currency and two positive ones. However, overall, the economy seems to be facing difficulties as the indicators are worse compared to previous months. Today's news includes Unemployment Claims at 8:30 AM (better if lower for the currency). The last release was negative for the currency, yet the price sharply increased by 18 pips. This news is crucial. Another news event is Fed Chair Powell's Testimony at 10:00 PM, tightening/ maintaining is good for the currency. The recent release was yesterday, causing a 4-point price fluctuation with general and vague statements. Key buy/sell zones to watch: Buy zone 01: 2133-2134 Buy zone 02: 2124-2125 Scalping orders: Around buy 2142, sell 2150. It's challenging to estimate the sell zone after the news due to risks. Perhaps around 2174.
OANDA:XAUUSD
by DucFI
Plan Trading Gold for February 27Yesterday, the candle closed with a long red body, indicating a significant price pullback from 25. The price range of approximately 12 points suggests market indecision, waiting for a reaction. Important news today: Durable Goods Orders m/m at 20:30 (better for the currency if higher). The most recent occurrence was on January 25th, with negative news causing the price to drop to 7 points and then increase by 14 points from the bottom. On December 22nd, positive news led to a drop of 5 points, followed by a rise of 12 points from the bottom. CB Consumer Confidence at 22:00 (better for the currency). On December 30th, positive news caused a price surge of 12 points before the release, and after the news, it dropped by 19 points, exhibiting a high volatility. On December 20th, negative news for the currency resulted in a 3-point increase in gold prices followed by a decrease of 7 points. Today is expected to be highly volatile (with potential fluctuations of 20-25 points throughout the day). Key buy/sell zones: Sell zone 01: 44 Sell zone 02: 47-49 Buy zone 01: 24-25 Buy zone 02: 16-18 Scalping orders (close orders before news): Sell at 40, sell at 36, buy at 26. Wishing everyone a fantastic day and big wins!
OANDA:XAUUSD
by DucFI
Gold / xauusd (Neowave Update)Degree full forms- L1 stand for Long term wave 1 and so on L1 stand for Medium term wave 1 and so on s1 stand for short term wave 1 and so on Hello Everyone Welcome to Trading Idea, This is Short Term Forecast Time Frame- 4hrs # Gold has completed first cycle and we are in ending of wave 2 # Stoploss level for this or SC3 cycle will be 2059, till than we will have bearish cycles I hope you are enjoying my forecast, if you love the content than kindly like and share it with your friends . Also keep following us for more neowave trading ideas. Thank You Medium Term Forecast Long Term Forecast-
FOREXCOM:XAUUSD
by Neowave-forecast