Gold 🪙Gold could climb to 2687 within or on ( 16th Sep 2024 )
Disclaimer:
It's a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
Goldtrend
Gold Consolidating for a Robust UptrendOn Weekly Basis:
GOLD took a support at 1640 (inverted head) on weekly charts (October, 2022) after it made a peak at 2035 (August, 2020) and correcting nearly 50%. It tried to pierce the daily top of 2070 twice after peaking in August,2020. It means it made a triple top which could mean a bear market for GOLD instead it made an inverted head at 1640 and shoulder pattern between 2010 to 2035. 50% retracement has been completed 1640, starting from 1190 and completing at 2035. The year 2024 is the fourth year of consolidation in GOLD. The resistance at 2035 has been broken and remaining in medium term consolidation pattern between 1980 to 2075. Currently 200 DMA is at 1966 with an uptrend.
Fresh new Wave may start in near future by the time 200 DMA move above 2000 level. One can be optimistic and it provides a good choice to buy at current level with a minimum bold target of 2950, which becomes a strong buy from long term point of view. It has come out of oversold position to neutral zone. RSI was oversold in October, 2023. Now it has broken out of the long-term channel of 4 years and continuously trading above the upper line of the channel at an all-time high with minor blip down.
Warning and Disclaimer:
Above prediction should not be taken as financial advise, it is a personal opinion.
Consult your financial advisor.
Investment is subject to market risks.
Past performance is not the guarantee for future performance.
It is for educational purpose only.
Update Gold Analysis 23rd May Overview
During the Tokyo trading session, gold experienced a dramatic fall, dropping from $2375 to $2355. This sharp decline suggests significant selling pressure and potential shifts in market sentiment. In response to this movement, traders should look for opportunities to enter the market at strategic sell zones, with each trade targeting 50 pips away to manage risk effectively.
Technical Analysis
Sharp Decline in Tokyo Session:
Support and Resistance Levels: The decline from $2375 to $2355 indicates a strong resistance level at $2375 and a new support level at $2355. This movement sets the stage for identifying potential sell zones.
Market Sentiment: Such a sharp drop often reflects a shift in market sentiment, possibly due to macroeconomic news, geopolitical developments, or changes in investor risk appetite.
Identifying Sell Zones:
Sell Zone Definition: In this context, a sell zone is an area on the chart where the price is likely to encounter resistance and reverse direction. Given the recent decline, potential sell zones can be identified near previous support levels that may now act as resistance.
Strategic Entry Points: Based on the current price action, look for sell opportunities around $2365 to $2370, close to the previous support level at $2375. If the price retraces to these levels, it could provide an optimal entry point for short positions.
20 MAY 2024 GOLD ANALYSISTechnical Analysis
Support and Resistance Levels:
Support Level at $2400: This level has proven to be a strong support as prices have rebounded after reaching this level. It indicates that there is significant buying interest at this price point.
Resistance Levels: As gold moves up, the next resistance levels to watch would be around $2450 and $2500. These are psychological levels and previous highs where selling pressure might appear.
Trend Analysis:
Short-Term Trend: The short-term trend shows a bounce from the support level, indicating potential for a bullish phase.
Medium to Long-Term Trend: If gold maintains its momentum above $2420 and breaks through the resistance at $2450, it could signal the beginning of a longer-term uptrend.
GOLD | STRONG PULLBACK WE CAN EXPECT HERE
#GOLD Setup: We will take a BUY position @ 2355 and collect profit at 2360, 2365 & 2370
Many confluence confirmed: Uptrend.
Risk:- 0.50-1%
Tips: Keep trailing your SL after 80+ Pips to lock your profit.
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Special thanks to all those who DM me and commented on my analysis wanting to know more about the trade.
GOLDBEES | Investment OpportunityDisclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
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GOLD SHOWING A GOOD UPWARD MOMENTUM
It's showing a fall due to these reason
It's retracted the support after the breakout
2.its getting support from neckline plus support making it's more stronger due to double support
3. The trendline also giving a support
4. Overall meaning is it's getting support from three point mean it's a good situation for buying
A good move gonna show here
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
DOUBLE TOP VISIBLE IN XAUUSD - SHORT OPPORTUNITY IN GOLD ?Symbol - XAUUSD
Gold has given a huge up move in recent months after breaking out of 2070 - 2080 zone.
Gold went till 2430 on 12 April and witnessed sharp selling immediately from that level. After consolidating, It tested 2420 level today again and exhibited sharp selling from that level for the second time.
XAUUSD CMP - 2392
I'm planning to short it between 2392 - 2410 with SL above 2427.
Gold is following a support trendline. I will add more position on breaking this trendline.
Targets will be 2358 - 2338 - 2300 - 2260
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!
GOLD SELL❗❗❗ FOR MONDAY🔴Gold retracemeant is started for the last second impulsive move.
I mean for the past one month it gives two impulsive moves.
Go for short on Monday ,maybe Asian session will be wild.
Learn to trade by yourself.i am not a pro.
Bold move of gold is about to hold1. Price is out of regression,
Thats an outlier movement, which explained the intensity of the impulse, its a characteristic movement of 3rd wave
2. Internal wave structures & Primary wave analysis,
5 sub wave of 3 primary wave is am extension wave, price structure is quite stiff and resembles with Climax Top
3. Cup & Handle pattern target has achieved, have spotted 2 such a structures
4. Deviation from 200 ema
Considering these counts, price could come to 67600 Or 62500, this would be complex correction & expected to see flag formation.
GOLD SELL ❗❗❗Just sell for some days if you are a trader,
If you're a investor then hold for multiyears.
I am a trader so I am going to short .
Reason lots of people trying to buy the gold now .
This is not right time wait for some days.
Because already central bankers bought at low price,but you guys hear the news late
And you tend to buy ,they are going to offload now to you if you're a buyer.
My thoughts only, don't scold me if not happens.
Learn to trade by yourself,it will be helpful in a long term.
🔥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.
Gold buy on deeps!As per the chart, some corrections have been seen around 2352 (which I have posted already) on Gold. So it does. Now buy on deeps around 2310 for the target of 1:2 RR or 1:3 RR.
GLD / Gold my pause of llr reverse from this level GLD has completed the reverse Head and shoulder breakout target. Expecting to pause for few weeks or get a significant pull back.
MCX GOLD - ONE MORE SHORT ATTEMPT ?MCX GOLD is currently trading at 68900.
I shorted GOLD twice in last three weeks. One position was closed in 700 points profit and other went 1000 points in profit and then closed CTC.
I'm shorting MCX Gold Futures once again at CMP 68900. I will add more short position if 69600 comes & will hold with SL above 70100.
I think rally in gold is about to end and I'm expecting Gold to fall soon & change its trend from bullish to sideways - negative. M pattern is in making in 4 HTF.
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!
Going against the trend on Gold (position Trade)after the gap on 21st the buying potential looks faded and we can see a strong rejection
then we have 4h bearish fvg and then filtered with 15mn another bearish fvg
which is at the level of 66400 could be the selling or short limit with sl of 66800 and target of 65200 and second target at 64400
#2 GOLD Update - know where to buy and sellIf, price below 61450 will trigger the liquidity of trades who entered recently
because the price have not mitigated the order block below it 61200 and 61100
On the upper side, above 62700
63200 - 63400 - 63800 will be the sellers order block and fair value they will look to sell
the remaining levels will be choppy
trade level to level
GOLD SHORT 4H CONFRMSSorry for late update....
Past 4 week gold in uptrend in week
Weekly time frm 1st pull back zone is 2231-2301
right now market need some correction
if market cross and close 2196 4h correction will starts
4hrs deep buy zone is 2160-2150 once market comes this dip we can buy...
in between other one mid zone found in 1hr (2186-2182)
wait for the 4hrs 1st confirmation market still in buy trend...
once confrm take sell...
now side ways
alrdy we took sell in 2210.030
NOTE: EDUCATION PURPOSE ONLY
GOLD IN BUY4h confrms high with my 3years research but buy pattern found in 4h ... also day dosnt confrms high if this current swing comes down and cross 2145.03 before touches 2170 then the high will be confrm
right now in 4h current swing gives buy equals.. so 80% market will comes upside
buy @2156-2151
sl 2146
tp 2158
tp 2161
tp 2170
tp 2180
tp 2195
notes: only for education
GOLD IN BUY SUCCESSpervious analysis success is success...
DAY doesn't confirms the sell...
gold cross 2170 before
touching 2145.03....
wait for correction and take a call...
huge profit we made...
stay tunes i will update tmr...
XAUUSD SNIPPER DROP SELL PROJECTION 17.03.24Reason For Bearish/Sell
1. Bearish Shooting Star Formed
2. Bearish Spinning Top in Previous Day Candle
3. Bearish Engulfing Formed In last week
4. Obeyed Strong trend
Overall Possible Outcomes
XAUUSD/GOLD SELL @ 2160-2170
SL 2210
TP 2140
TP2 2080
TP3 2040
Gold Spot - A Pattern is spottedThe chart shows the price is traveling in a descending parallel channel formation. This time reaching towards the upper levels of the channel. If rejected from the levels of 2044-2052, may be in a downtrend for further sessions. Possible targets are indicated on the charts.
This illustration is my personal view only, for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
