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Potential gold trades from supportDear friends, Gold prices continue to recover amid escalating tensions in the Middle East, reaching a two-month high of $1,962.62 per troy ounce. XAU/USD maintains its upward momentum, trading around $1,949 in the US session as the US dollar attracts attention following the stock market plunge. In the short term, the 4-hour chart indicates a potential downward correction, although it also shows that the upward trend is still dominant for XAU/USD. Support levels: $1,938.20, $1,926.50, $1,912.35 Resistance levels: $1,962.60, $1,978.90, $1,987.40
OANDA:XAUUSDLong
by Samson-FX
Price Action Beyond Article.As someone who trades options and is part of the trading community, I've learned that being successful involves two main things related to price action. The first part, which makes up about 20% of it, is all about understanding patterns, market trends, and support and resistance levels. This is like recognizing the different shapes and structures that prices make on charts. The second part, which is the bigger 80%, is about real-life experience in the market, your mindset when trading, and how you manage your money and risk. It's not just about knowing the patterns; it's also about how you handle your emotions, make decisions in the heat of the moment, and protect your money. So, to be a successful option trader, it's not just about knowing the patterns and trends; it's also about how you handle yourself and your money in the live market. Both parts are essential for success. #Follow One strategy, You don't need to change your strategy often, back test and give time to your strategy. #Cut your losses #Cut your losses #Cut your losses #Cut your losses #Cut your losses Just Say Thanks If you like.
NSE:BANKNIFTY
by Anand_7
Old vertex test thanks to the increase in channelDear friends, Gold continues to rise as predicted, thanks to the favored safe haven during times of volatility. In a recent development, Federal Reserve Chairman Jerome Powell hinted at the possibility of raising interest rates. However, the market does not see this as a tightening statement. It seems that there are too many external risks impacting the economy. This will support the price of gold. In the near future, "Any data showing a decline in the US economy will further support the price of gold. A recession will force the Fed to lower rates, pushing gold up to $2,100." The strong positive trend in the 1D direction indicates that gold will continue to rise significantly, with my target at $2,017 and then the highest peak at $2,065.
OANDA:XAUUSD
by Samson-FX
Powell believes that current interest rates are not too high.Powell believes that current interest rates are not too high. "Are the policies too tight? I think not." However, he admitted "rising interest rates make it difficult for everyone". The Fed also emphasized that their targets have recently performed well. Inflation in September is currently 3.7%, down sharply from more than 9% in the middle of last year. "Recent figures show progress on both of our goals: maximizing employment and stabilizing prices. The economy is still handling quite well," he said. However, the comments came on the same day as a report showing the number of people filing for unemployment benefits last week was the lowest since the beginning of the year. This shows that the labor market is tightening, which could put upward pressure on inflation. In recent days, many Fed officials said the agency may temporarily stop raising interest rates. Even the most pro-tightening members think the Fed will wait for more impact from previous interest rate hikes on the economy. The market now also expects the Fed to stop raising interest rates, at least for now. The question now is when will they start reducing interest rates. "When the environment remains risky and uncertain, we will be more cautious. The Fed will make decisions based on upcoming data, as well as prospects and risks," Powell said.
OANDA:XAUUSDLong
by NicoTradingMaster
2
Gold buyers approach $1,990 resistance amid overbought RSIGold Price rises to the highest level in three months on early Friday, rising for the fourth consecutive day, amid a softer US Dollar and mixed sentiment. That said, the Greenback dropped heavily on Thursday after Fed Chair Jerome Powell signaled no rate change in the short term. It’s worth noting that the XAUUSD’s successful break of the 200-day SMA and previous resistance line stretched from May added strength to the bullion’s run-up earlier in the week. With this, the precious metal is all set to poke a three-month-old horizontal resistance region surrounding $1,990. However, the quote’s upside past $1,990 appears difficult as the RSI (14) line hovers within the overbought region, suggesting a pullback in the prices. Even if the bulls manage to cross the $1,990 hurdle, the $2,000 psychological magnet will act as an additional upside filter before giving control to the Gold buyers. Alternatively, the 200-day SMA and the multi-month-old resistance-turned-support line, respectively near $1,930 and $1,905, appear as short-term key supports to watch for Gold sellers during the price reversal. Following that, the $1,900 round figure and August month’s low of around $1,885 will act as the final defense of the XAUUSD buyers ahead of directing the commodity prices to the 61.8% Fibonacci retracement of November 2022 to May 2023 upside, close to $1,842. In a case where the bears keep the reins past $1,842, the monthly low of near $1,810 and the $1,800 threshold will be on their radar. To sum up, Gold price is likely to remain sturdy unless it breaks $1,905. However, the metal’s pullback appears overdue.
OANDA:XAUUSD
by MTradingGlobal
GOLD - Deep reduction, long analysisHello dear friends! Today, the price of gold has made a slight adjustment and is currently trading at $1911 since the time of writing, a decrease of $18.48 or -0.96% for the day. Last week, gold witnessed its best weekly increase since mid-March due to growing safe-haven demand amidst the ongoing Israel-Hamas military conflict. In the current politically unstable situation, investors are flocking to gold. Additionally, the US declaration of tightening sanctions on Russia's crude oil exports on Friday has caused oil prices to rise to $90 per barrel. I believe that oil prices will continue to rise, and the role of gold as a safe haven will help counter inflation, which is beneficial for gold. For these reasons, gold buyers will continue to drive the price of gold higher in the near future, with a slight test of previously broken resistance levels before the upward momentum resumes. The expected increase is around $1952 - $1960.
OANDA:XAUUSD
by Samson-FX
XAGUSD (Silver/US Dollar)XAGUSD Technical Analysis : As of 17th October 2023, silver (XAG) against the US Dollar (USD) is showing signs of a bullish trend. The Relative Strength Index (RSI) is 53.57, indicating neutral conditions, while the Moving Average Convergence Divergence (MACD) is showing a Selling crossover. The silver price has also formed an ascending triangle pattern, suggesting potential upward momentum. Key Resistance: 22.74 Key Support: 22.46 Traders should closely monitor price movements around these levels. A break above the resistance could signal further gains, while a drop below support may indicate a reversal. Consider your risk management strategy before entering any trade. On the Basis of TF are : Minute TF : "Moving Average" & Technical Indicator" are showing bullish movementum Hourly TF : "Moving Average" & Technical Indicator" are showing bullish movementum Daily TF : "Moving Average" is neutral but the "Technical Indicator" is showing bullish movementum Weekly TF : "Moving Average" & Technical Indicator" are showing bearish movementum
OANDA:XAGUSD
by tradewith_ritik
Weekend gold analysisHello dear friends! Currently, gold continues to show positive growth with prices reaching a high of $1886, the highest in two weeks. This upward trend is driven by increasing expectations of higher interest rates from the Federal Reserve. This data further strengthens the likelihood of the Fed tightening monetary policy. As a result, US Treasury bond yields surged overnight, leading to a significant recovery of the US Dollar (USD) due to short positions being covered. This USD recovery is seen as a crucial factor putting downward pressure on gold prices. However, the downtrend established from the peak of $2050 on the 1D chart has yet to be broken. With this downward momentum, gold may still continue to rise during this phase, with a potential increase to $1912 before the threat of a price decline is reassessed.
OANDA:XAUUSD
by Samson-FX
Tata Steel at Confluence Support ZoneTata steel gave a breakout from a promising channel pattern that has been in formation since over 2 years. Now the stock is taking support right at 50 DMA (Long tail candle), at .5 & .618 Fib levels and also at previous resistance zone which will now act as a support. Entries can be made in the same after a strong candle closes above 127 with strong volume. Short term Stop loss should be a a good candle close below 122 and long term SL is 117. Targets can be 150++. Trade can be held for a long term perspective too as Metal sector has given a breakout recently and is in a Stage 2 structure.
NSE:TATASTEELLong
by ST_SNOOPY
1
Gold price at the end of the session, the price decreases slightHello dear friends, Gold today has shown its first signs of decrease after a week of continuous price increases. Currently, this precious metal is trading at $1873. With higher-than-expected inflation data announced on Thursday (US time), it has taken away the gains that gold had previously enjoyed due to safe-haven buying pressure, forcing the Federal Reserve to keep interest rates at a prolonged limited level. Although gold has reached its highest level in 2 weeks and is very close to $1900 per ounce, it has not been able to maintain that increase. The higher CPI data from the US has limited the upward momentum of gold on Wednesday. This has put pressure on gold and it is likely to have a downward trend in the near future. My target is $1835.
OANDA:XAUUSDShort
by Samson-FX
silver fresh level and exisiting pos updatethose who went long from 66k-68k in silver gained almost 2000-2200 pts i think it will be wise to book profit and wait for new level the fresh buying level for silver will be 68400 let the price make a pullback after such good impluse movement follow the price on the basis of lower low and lower high look when it reaches 68400 zone wait for price to form higher high higher low as a signal for going long the current ornage and yellow levels are based on fib levels retracement look to buy near fva zone
MCX:SILVER1!Long
by Jimmy_Rebello
Update gold price at the beginning of the week!Hello dear traders! It's great to see you all again for this week's Gold chat. As predicted over the weekend, Gold has indeed opened strong today, maintaining its upward momentum. The sellers were unable to break through the $1800 support level, resulting in a robust price surge to reach $1850. The market will be eagerly awaiting the release of the US Producer Price Index (PPI) report for September on Wednesday and the Consumer Price Index (CPI) report on Thursday. These reports are expected to provide further insights into the Federal Reserve's next moves. Meanwhile, 43% of retail investors participating in online polls on Main Street expect an increase in gold prices this week, while 42% predict a decrease and 15% believe prices will remain stable in the short term.
OANDA:XAUUSD
by Samson-FX
Gold analysis today, expected 1900 USDHello dear friends! Samson is pleased to be here to chat and analyze today's market. Currently, Gold is maintaining its recovery level since it last dropped to $1810. On the 4-hour chart, we can observe that Gold is in an upward trend but consolidating around $1822. Gold has successfully reached the earlier forecast by Samson. Currently, Gold is trading around $1861. On the other hand, with the market receiving important news today, according to Samson's personal prediction, there is a possibility of a slight downward correction to $1840, followed by strong support to continue pushing the price towards a recovery level of $1900, which Samson highly values.
OANDA:XAUUSDLong
by Samson-FX
4
Gold increases, expected to increase 1900 USD?Gold continues to rise today as the market received positive news from the PPI. Currently, gold is trading at a high level since the beginning of the week and reaching a trading level of 1877 USD. Regarding prospects: The IGCS index indicates that about 83% of retail traders have a long position on gold. This suggests that prices may continue to decline in the near future. However, the betting ratio on the downside has increased compared to yesterday and last week, with ratios of 18.59% and 26.67% respectively. Considering this, recent changes in exposure levels indicate that prices may soon start to rise again.
OANDA:XAUUSDLong
by Samson-FX
1
Analysis of gold price goldGreetings everyone! XauUSD is still maintaining its stability above USD 1851 per ounce, experiencing a rise of 16 USD per ounce compared to the previous weekend. Throughout this week, the market will be eagerly anticipating the release of the US September Production Price Index (PPI) report on Wednesday and the Consumer Price Index (CPI) report on Thursday. These reports from Vong will provide valuable insights into the future actions of the US Federal Reserve (Fed). Consequently, buyers of gold will be striving to bolster the price of gold, which is currently being traded at US $1851 with an increase of US $1816. This upward trend is expected to persist until new information becomes available.
OANDA:XAUUSDLong
by Samson-FX
Gold prices explodedDear traders, greetings! Gold remains steadfast in its price trajectory, currently being traded at 1860 USD per ounce, which reflects a rise of 12 USD per ounce since the early morning. In light of the ongoing crisis, the value of the dollar has increased in comparison to several other robust currencies. Nevertheless, since the US and Canada markets are closed in observance of Columbus Day, this surge in USD value has not had an impact on the price of gold. Given this circumstance, potential buyers of gold are demonstrating a keen interest and are expected to drive the price up to 1920.
OANDA:XAUUSDLong
by Samson-FX
2
Gold pops up before the news?Hello dear friends! Gold showed little volatility today as the market moved sideways around the range of 1864 - 1854. It is currently trading at 1866 USD. It seems that the market is focusing on the upcoming PPI and USD news to be released today and tomorrow. This could be important news for gold at this time. For this reason, gold buyers are expected to push the price up to 1873 USD. Breaking this level could drive gold towards the peak of 1900 USD. If you found this article helpful, please leave a comment and follow for the latest updates.
OANDA:XAUUSDLong
by Samson-FX
Yellow- facing psychological levelDear beloved friends, Gold continues to rise as predicted and is currently trading at $1882. The main reason for this is the news from last night, which caused the USD to cool down and retreat to a defensive level. Let's delve into the technical analysis a bit: Gold is facing a challenge near the $1900 region (resistance level). It is highly likely that after reaching a good increase, Gold will be rejected at this psychological level, leading to a downward movement with support at $1842 and even $1815.
OANDA:XAUUSDShort
by Samson-FX
Short the SILVER(XAGUSD).Elliott wave analysis:- Impulse wave formation has been formed. 1,3,5 wave are impulse and the 5the wave was an Ending Diagonal. . if this wave has not broke above the 5th wave then we can go for short at CMP. stoploss@22.24201 if pattern failed then we have to wait and watch the wave formation. i am not a SEBI registered advisor. Before taking a trade do your own analysis or consult a financial advisor. I share chart for education purpose only. I share my trade setup.
OANDA:XAGUSD
by n0m0ret0ss
4