Get started

Metals

Asian Session Trading Strategy August 20, 2024Resistance Levels: 2509 - 2519 - 2533 Support Levels: 2495 - 2488 - 2475 - 2470 You Can Refer To My Trading Recommendation Below To Help You Make Profit In The Asian Session Recommended for daily trading around the price range: CANH SELL XAUUSD AROUND 2509-2511 Stoploss: 2514 Take Profit 1: 2505 Take Profit 2: 2502 Take Profit 3: 2497 CANH BUY XAUUSD AROUND 2493 -2495 Stoploss: 2489 Take Profit 1: 2499 Take Profit 2: 2503 Take Profit 3: 2507 Note: Always set TP and SL during the transaction to achieve the highest performance
OANDA:XAUUSDLong
by DuyVinh_Trading
EURJPY LONG - 15MFOREXCOM:EURJPY Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Long
by Phinics
XAUUSD 19/8/2024 price has created ATH? Last weekend we had a strong increase on Friday that broke the old peak to create a new ATH. This increase has caused the RSI indicator to enter the overbought zone. In my experience, when the price moves quickly and sharply while looking at the RSI entering the oversold zone, this is a sign of wave 3. - Currently we see the price falling to the 2500 zone, so we expect an ABC downtrend structure of wave 4. - I measured the wave 4 target at the 2485 - 2483 zone, after reaching the wave 4 target, we expect a wave 5 increase to complete the 5-wave uptrend structure. - I measured the wave 5 target at 2517 - 2520 and 2531- 2534 zones, these are the 2 target zones I expect to SELL down. Trading Plan BUY ZONE: 2467 - 2463 SL: 2457 TP1: 2493 TP2: 2500 TP3: 2517 BUY ZONE: 2485 - 2482 SL: 2475 TP1: 2500 TP2: 2509 TP3: 2517 SELL ZONE: 2517 2520 SL: 2527 TP1: 2506 TP2: 2500 TP3: 2484 SELL ZONE: 2531 - 2534 SL: 2541 TP1: 2519 TP2: 2500 TP3: 2484
OANDA:XAUUSDShort
by DEEKOP
XAUUSD 16/8/2024 Has the Uptrend Started?XAUUSD 16/8/2024 Has the Uptrend Started? Yesterday after the PPI news, we saw a strong shakeout and the price came close to the 2nd BUY target zone that I had given and then bounced strongly. But I did not expect such a strong downtrend, so the price zone of 2445 - 2442 did not set a BUY order. Today I expect a correction wave to the 2447 - 2444 zone to complete wave 2 in red and then continue the uptrend according to wave 3. During the price increase according to wave 3, we pay attention to large supply zones such as the 2476 zone, the 2484 zone and the 2500 zone, these are the zones I choose as targets to SELL down Trading plan BUY ZONE: 2447 - 2444 SL: 2437 TP1: 2458 TP2: 2468 TP3: 2476 SELL ZONE: 2484 - 2487 SL: 2494 TP1: 2476 TP2: 2468 TP3: 2458 SELL ZONE: 2497 - 2500 SL: 2507 TP1: 2484 TP2: 2476 TP3: 2468
OANDA:XAUUSDLong
by DEEKOP
Gold buyers stay optimistic around mid-$2,400s within triangleGold has ended a two-day drop by bouncing off its 9-day Exponential Moving Average (EMA) within a symmetrical triangle pattern that's been forming for seven weeks. This bounce supports the idea that the Fed might cut rates, together with the positive MACD signals and the trend-favorable RSI line. The key levels to watch are the triangle's range of $2,475 to $2,393 and the 50-day EMA support at $2,391. If gold moves past $2,475, it could test an upward resistance line from early April, reaching around $2,498. After that, $2,500 will be an additional hurdle for the metal before potentially rising to $2,522 and $2,562, which are based on 50% and 61.8% Fibonacci Extensions of gold's moves from March to July. If gold falls below $2,391, it might drop to the late July low of about $2,353 and then to $2,350. There's also a strong support region between $2,293 and $2,285 from late April to June, which if broken, could push gold towards $2,200. Overall, gold is performing well due to positive technical indicators and concerns about possible US Fed rate cuts, supported by recent US inflation data.
OANDA:XAUUSD
by MTradingGlobal
XAUUSD 15/8/2024 Has the uptrend started? Yesterday's CPI news showed a sharp increase in price when it was announced and then a sharp decrease. This is a move to shake off the sellers so that the price can complete wave C. - The sharp decrease in wave C is still, in my opinion, the final shakeout before the price starts to increase to complete wave 5 I predict that this week the price will likely create a new ATH followed by a further correction. - The wave 4 target I set yesterday has been completed at the price range of 2442 to 2445. With a Buy order at this price range, we have a profit of 100 pips. You can close a part of it and raise the SL to Entry. I have a backup target at 2430 - 2427 we will look at this target if price breaks out 2439 - I see a big supply zone at 2468 - 2471 so I will set a Sell scalp target at this zone - Our main Sell target is the end of wave 5 now I am targeting the first wave 5 target which is 2500. Trading Plan BUY ZONE: 2430 -2427 SL: 2420 TP1: 2439 TP2: 2458 TP3: 2476 SELL ZONE: 2468 - 2471 SL: 2478 TP1: 2458 TP2: 2452 TP3: 2444 SELL ZONE: 2497 - 2500 SL: 2597 TP1: 2484 TP2: 2476 TP3: 2458
OANDA:XAUUSDLong
by DEEKOP
XAUUSD 13/8/2024 Has the Downtrend Started? Yesterday was an unusual bullish day, although we had profit with sell orders, the price increased to the 2476 area, which gave us an extended yellow wave 5, which also means that the black wave 3 has been completed - Currently the price is in the 4th wave correction, we expect a yellow ABC correction and this is an opportunity for us to trade in the direction of wave 5. - Trading plan BUY ZONE: 2442 - 2439 SL: 2432 TP1: 2450 TP2: 2458 TP3: 2469 BUYZONE: 2435 - 2432 SL: 2425 TP1: 2440 TP2: 2450 TP3: 2458 SELL ZONE: 2470 - 2473 SL: 2480 TP1: 2458 TP2: 2450 TP3: 2442 SELL ZONE: 2492 - 2495 SL: 2502 TP1: 2476 TP2: 2469 TP3: 2458
OANDA:XAUUSDLong
by DEEKOP
Gold buyers take a breather above 100-SMA, focus on $2,450Gold's recent strong performance suggests a positive sentiment among buyers, especially with its breakout above the 100-SMA and supportive RSI and MACD indicators. This technical strength points to a potential push towards the $2,450 resistance level, with further challenges anticipated at around $2,470 from a mid-July trend line, and additional resistance at $2,495 and $2,500. On the downside, sellers will need a break below the 100-SMA, currently around $2,411, to gain momentum. Such a move could test the $2,400 mark, with further support levels at $2,383 and $2,350. In summary, while Gold is currently on the buyers' radar, the upcoming resistance levels may cap the upside potential.
OANDA:XAUUSD
by MTradingGlobal
XAUUSD 6/8/2024 Is this rally over? This past week we have seen a lot of volatile news that has affected the direction of gold prices With the unstable geopolitical situation causing large fluctuations in gold prices - Looking at H1 we see a completed ABC corrective wave structure. Following an ABC corrective structure we expect a 5 wave bullish structure. Obviously not excluding the possibility of a complex correction wave then I will update if it happens - Currently we expect a bearish correction to confirm wave 1 and wave 2 completed and wave 1 and 2 confirmed when price closes above 2365.6 - This current correction we expect a yellow abc wave pattern and target at 2385 price zone or 2377anh price zone Trading plan BUY ZONE: 2385 - 2382 SL 2363 TP1: 2393 TP2: 2404 TP3: 2418 SELL ZONE: 2421 - 2424 SL: 2447 TP1: 2408 TP2: 2396 TP3: 2385
OANDA:XAUUSDShort
by DEEKOP
Gold buyers keep eyes on US NFP, inverse Head and ShouldersEarly Friday, Gold price reverses the previous day’s pullback from a two-week high as traders await the US monthly employment data for July. That said, the recent bias supporting the US Federal Reserve’s (Fed) frequent rate cuts in 2024 allowed the precious metal to remain firmer within an inverse Head and Shoulders (H&S) bullish chart formation. Apart from that, the bullion’s successful recovery from the 50-SMA, bullish MACD signals and upbeat RSI conditions also underpin the upside bias about the spot Gold price known as the XAUUSD. With this, the Gold price appears well-set to rise within the aforementioned bullish chart formation. The same highlights a five-week-old support-turned-resistance line surrounding $2,480 as an immediate upside hurdle. Following that, the neckline of the head and shoulders pattern, close to $2,494 by the press time, quickly followed by the $2,500 threshold, will be crucial to watch. In a case where the quote manages to stay firmer past $2,500, it becomes capable of aiming for the theoretical target of the inverse H&S formation, namely the $2,700 psychological magnet. On the contrary, Gold buyers remain hopeful unless the quote breaks an upward-sloping support line from mid-February, near $2,381. Also restricting the bullion’s short-term downside is the 50-SMA support of around $2,365. In a case where the precious metal stays weaker past $2,365, it defies the bullish chart formation and becomes vulnerable to drop further toward the lows marked in June around $2,280. That said, the $2,300 and May’s bottom of $2,277 will act as additional supports to watch during the XAUUSD’s further downside. To sum up, the Gold price remains in the bullish trend and signals further advances ahead of the key US employment data comprising the widely known Nonfarm Payrolls (NFP). Hence, the scheduled data’s capacity to harm the XAUUSD buyers appears limited even with the upbeat outcome.
OANDA:XAUUSD
by MTradingGlobal
XAUUSD 1/8/2024 after FOMC news? Looking at H1, we see that after this morning's FOMC news, we see that XAU has increased to the 2458 zone - As I analyzed in the previous plan, when the price breaks through the 2402 zone and then tests again and does not fall below this zone, the price will continue the 5-wave trend instead of the 3-wave ABC. - Regarding the trend, after the price follows the 5-wave model, the next wave target is the 2500 price zone as analyzed before. - Looking at the present, we see that wave 3 in the blue 5-wave structure is completing, and the price has now started blue wave 4 - Measuring the wave 4 target, we have the price zone of 2433. This will be the price zone we are waiting for as a BUY target - The target of wave 5 will be specifically determined by me after wave 4 is formed. With the current data, I am expecting wave 5 to end at the price zone of 2500 Trading plan BUYZONE: 2433 - 2430 SL: 2423 TP1: 2422 TP2: 2450 TP3: 2465 SELL ZONE: 2467 - 2470 SL: 2477 TP1: 2450 TP2: 2422 TP3: 2433
OANDA:XAUUSDLong
by DEEKOP
XAUUSD 7/30/2024 How far will the price go? After the 5-wave downtrend structure, we are witnessing an increase from 2354 to 2402 - So we will have 2 cases either the 5-wave downtrend structure has completed wave C then we have the current increase as a 5-wave structure, case 2 is the 5-wave downtrend structure above has just completed wave 1 in the 5-wave structure of wave C so the current increase is wave 2 and will have an ABC wave structure. - We will have an important price to confirm that is the price of 2402, both cases need the price to break out through 2402. After the price breaks out through 2402 and the price returns below 2402, then we will lean towards the current situation being just a correction wave 2 in the 5-wave structure of the purple wave C. If the price breaks out through 2418, we will lean towards the possibility that this is a 5-wave increase structure and the possibility that the price will break through the peak of 2433. So at the 2418 area, this is the current area containing a large amount of supply, which will be a strong resistance level for the price, so when the price touches this area, there will be a reaction, and we will choose this area as the SELL target Trading plan SELL ZONE: 2415 -2418 SL: 2425 TP1: 2402 TP2: 2390 TP3: 2374 BUY ZONE: 2357 - 2354 SL: 2347 TP1: 2365 TP2: 2374 TP3: 2382
OANDA:XAUUSDLong
by DEEKOP
XAUUSD 7/29/2024 Is the uptrend over? Looking at H1, we can see that the corrective uptrend may have ended. - The price will continue to move in a downtrend to complete the purple wave C as shown on the chart. During the move to the target price zone of wave C, we see that at the 2374 treble line, this is the previous breakout price zone and has not been retested, so there is still a very strong demand force in this price zone. - We expect the price to bounce back to the 2374 zone, so we will place a BUY order in this zone. Trading plan BUY ZONE: 2376 - 2373 SL: 2366 TP1: 2382 TP2: 2400 TP3: 2410 SELL ZONE: 2314 - 2417 SL: 2424 TP1: 2401 TP: 2382 TP3: 2365
OANDA:XAUUSDShort
by DEEKOP
XAUUSD 7/26/2024 Is there a pullback? Looking at H1, we see that the price breaking the 2382.5 zone has confirmed that the price is in the purple wave C - From the peak of 2433 to the bottom of 2353, we see a small 5-wave structure has been completed and now we see that the bullish recovery wave is continuing, we expect a corrective wave - The target of the rebound wave I measured at the price zone of 2402 and the price zone of 2411 - So this increase we expect is a rebound wave before the bearish wave continues to the target zone of the purple wave C - The target of the purple wave C we measured at the zone of 2334 and the zone of 2307 Trading plan BUY ZONE: 2366 - 2363 SL: 2356 TP1: 2382 TP2: 2394 TP3: 2402 SELL ZONE: 2310 - 2312 SL: 2320 TP1: 2400 TP2: 2390 TP3: 2382
OANDA:XAUUSDLong
by DEEKOP
Gold price rebounds from 50-SMA ahead of Fed inflationGold consolidates weekly loss while posting a corrective bounce from the lowest level in 13 days as traders await the US Core PCE Price Index for June, also known as the Fed’s favorite inflation gauge. In doing so, the precious metal takes a U-turn from the 50-SMA but stays on the way to posting a second consecutive weekly loss after refreshing the all-time high during mid-July. Despite the latest rebound in prices, the commodity’s sustained trading below a month-old rising support line, now resistance near $2,428, joins the bearish MACD signals and steady RSI (14) line to keep the sellers hopeful. However, a clear downside break of the 50-SMA level of $2,359 becomes necessary to recall the bullion sellers. Following that, the 100-SMA level of $2,324 and an upward-sloping support line from early May, near the $2,300 threshold, appear as some of the last defenses of the buyers. It’s worth observing that lows marked in May and June around $2,285 and $2,277 will act as additional downside filters for the metal traders to watch during its declines past $2,300. Meanwhile, the 21-SMA level of $2,388 and the $2,400 threshold guard the immediate upside of the Gold price ahead of the support-turned-resistance line surrounding $2,428. Following that, May’s high of $2,450 and the latest peak surrounding $2,484 could entertain the XAUUSD bulls. However, an upward-sloping trend line resistance from early April, near $2,490 as we write, quickly followed by the $2,500 round figure, appear tough nuts to crack for the bullion buyers. To sum up, Gold is likely to remain pressured within a trading range established since April. However, the trend line breakdown can join upbeat Fed inflation to please short-term sellers.
OANDA:XAUUSD
by MTradingGlobal