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Gold Intraday PlanGold prices extended gains in yesterday trading session for the fifth day out of the last six and reached an all-time high at 2,748, just below of the psychological 2,750 mark. Geopolitical tensions and expectations that the Federal Reserve would continue to lower borrowing costs are helping gold bulls right now. As per price action gold price Invalidated the Gravestone doji pattern that was formed in Monday trading session and sustaining the price over to major support area 2738-40 (As visible on Volume profile).Today price opened with small gap down which is indication that the current over extended bull run is somewhat exhausting and need a break/ pause ,so selling with calculated risk is seems to be favourable at current elevated levels and if price breakdown this support area on volume profile then we can expect a good correction towards 2700 or low.
OANDA:XAUUSDShort
by TheGoldenCircle
Silver is going to continue the rally Up as Historic Trend showsChart Understanding: -- XAUUSD is price of 1 ounce of Gold in USD. Also known as Spot gold price chart. -- XAGUSD is price of 1 ounce of Silver in USD. Also known as Spot Silver price chart Spot Gold to Spot Silver price ratio of last 20 years shows how silver will trend in the near future. -- When graph goes down, Silver rises. Analysis -- Last time when silver was at an all time high $34 USD/ounce, the ratio was at 46:1. -- The ratio fell below the lower band and thus silver prices fell as mean reversion came to effect. -- This time, when silver is at $34 USD/ounce, the ratio is at 79:1. -- If mean reversion will happen this time, then it means silver still has a lot of price hike to catch to attain that. -- If ratio of 66 is to be attained, keeping gold price constant, the silver price needs to increase to $41.5 USD/ounce, which is an increase of roughly 23% from current price. As such, silver seems to be a better bet in the current uncertain times to give good returns compared to gold. The historical valuation of both precious metals show that silver has long been lost in the valuation race and has lot to catch. "A historical analysis by the World Gold Council shows that despite gold’s current higher market value, silver’s intrinsic value is higher due to its relative rarity — five times less abundant than gold (World Gold Council, 2023). As historical and intrinsic value factors realign, silver’s price could adjust to reflect its true worth, potentially exceeding gold’s value in the (distant) future."
OANDA:XAUUSDLong
by fvs99
2
Gold : Due for correctionGold prices hit another record high during US session, yet it paused its advance amid elevated US Treasury bond yields and a strong US Dollar (But gold ignored the DXY move completely in last week). On daily close as per price action we can see a gravestone doji which can open door for correction. So for today the plan is to sell under last day high , we can sell near CPR area(2722-2727) or wait for pullback to daily R1(2735) for possible sell opportunities, On lower side as you can see that price is currently in over elevated region and price did not tested the weekly pivot(2694) , so first we can expect a test at weekly pivot for this correction and then we have to watch how price going to react there .
OANDA:XAUUSDShort
by TheGoldenCircle
Gold renews all-time high within bullish channel, $2,750 eyedGold prices soared to a record $2,710, marking four days of gains as investors flock to safety. Despite a stronger US dollar, gold has remained within a rising trend channel for the past three months. Caution Ahead While the bulls celebrate breaking through a three-week-old resistance level, the momentum indicators suggest a potential pullback. With the RSI nearing overbought territory, we might see a brief dip before another surge in prices. Key technical levels to watch Gold’s next challenges lie at the 50% and 61.8% Fibonacci Extension (FE) of the bullion’s September-October moves, respectively near $2,711 and $2,736, especially amid nearly overbought RSI conditions. In a case where the precious metal remains firmer past the $2,736 hurdle, the aforementioned bullish channel’s top line surrounding $2,750 will be a tough nut to crack for the buyers. A breakthrough there could spark a rally towards the psychological $3,000 mark, with potential resistance around $2,800 and $2,900. On the contrary, Gold’s price has solid support at the $2,700 level and the 38.2% Fibonacci Extension around $2,686. If it falls below these, watch for a key support zone near $2,665, where the late September resistance and the 10-day EMA converge. Should XAUUSD bears keep the reins past $2,665, the channel’s bottom line of near $2,630 will be the last defense of the buyers. Buyers are likely to stay in control despite a potential pullback While a short-term pullback in gold prices appears overdue, the overall bullish trend is expected to hold strong due to global economic and geopolitical uncertainties.
OANDA:XAUUSD
by MTradingGlobal
Gold again reached at All time High : What next?As expected and as shared on daily updates ,we have seen a good bullish rally on gold again and gold re-tested the ATH level and now facing resistance on Intraday but there is no big indication of good rejection at ATH level: CPR is very extreme today and gold price still showing strength. Today we have some high impact data in US session that can generate good volatility For today: For Buy: We will wait for breakout above 2685 and on breakout we can look for buy on Intraday towards 2700, For Sell; Price need to see a good decline first /close on H4 and bears at least need to push the price under 2660 (Daily S1 for today) and then only we can look for sell opportunities on Intraday.
OANDA:XAUUSD
by TheGoldenCircle
Is VEDL Ready to Soar? Elliott Wave Analysis Suggests YesTechnical Analysis of VEDANTA LTD. (VEDL) Based on Elliott Waves This analysis is based on Elliott Wave theory and is for educational purposes only. It does not constitute financial advice. Elliott Wave Analysis: The provided chart of VEDANTA LTD. (VEDL) suggests a bullish trend based on Elliott Wave principles. The analysis identifies a potential impulse wave structure, which typically consists of five waves. Elliott Wave Analysis Update We're currently within Wave (3) in blue intermediate degree, with subdivisions marked as Red 1 to 5 Minor degree, Having completed Red 1 to 3, we're nearing the end of Red 4. Key Takeaways: 1. Post-Red 4 completion, we expect an upward move to complete Red 5, targeting 1.618 Fibonacci extension (measured from Blue Wave (1). 2. Wave 5 (Red) is the final leg of Wave (3) in Blue which is of intermediate degree. 3. Overall, the outlook remains bullish. Important Principle: As per Elliott Wave Theory, Wave 4 cannot overlap Wave 1. This means Red 4 cannot enter the territory of Red Wave 1. Nearest or current Invalidation Level: If the price enters 471 (Wave 1 high), our labelled view will be negated, and we'll need to reassess the chart. Expected Outcome: If the invalidation level holds, our view remains intact, targeting 537 or nearby. Actionable Insights: - Monitor Red 4 completion - Watch for Wave 5 unfolding - Keep 471 as the critical invalidation level Right Direction: The annotation "Right Direction ↑" suggests that the overall trend is expected to be upward. Invalidation Level: The level of 424 is identified as an invalidation level. A break below this level would negate the bullish outlook and suggest a potential reversal. Target: While a specific target is not provided in the chart, a potential target for wave 3 could be around the 1.618 extension level (537.55) based on the length of wave 1. However, this is a rough estimate and subject to change based on market conditions. Overall Outlook: Based on the Elliott Wave analysis, VEDANTA LTD. (VEDL) appears to be in a bullish uptrend. The market is expected to continue rising, with a potential target around the 537.55 level. However, it's crucial to monitor the price action closely and be prepared to adjust the analysis if the market's behavior deviates from the expected pattern. Remember: Elliott Wave analysis is a complex tool that requires practice and experience. It's essential to approach it with caution and always consider the potential risks involved in trading. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:VEDLLong
by RK_Chaarts
7
Graphite India for 100%+ upsideDate: 21 Sep’24 Timeframe: Weekly chart Graphite India currently seems to be in Wave III of 3 which is heading towards 1400 levels (130% growth from current price) as seen in the chart. Even if it attains its previous all time high of August 2018, that’s almost double its current price. If one can handle the fluctuations that operators inject from time to time and hold tight, this one is a no brainer. This is not a trade recommendation. Please do your own analysis.
NSE:GRAPHITELong
by DhandhaPaani
All eyes on GoldAs discussed in yesterday's update gold is still looking good to more higher and gold is following that statement perfectly , as you can see on hourly chart after a small pullback in yesterday trading session gold price took support at weekly pivot (2640) and after that price moving in higher side, for today also the CPR relation is positive and gold price is taking support on CPR area and we can expect continuation in higher side , weekly R1 is at 2677 and at that level we can expect another small pullback and then price can continue in higher side towards 2685 or higher level, there is no sign of good reversal so we have to wait for higher levels for any selling opportunities , the only limiting factor that currently stopping the gold bulls is strong dollar Index chart, but I think DXY is also due for correction which can help gold bulls to make a good move in higher side : overall the scenario is still favourable for buying on Intraday .
OANDA:XAUUSDLong
by TheGoldenCircle
1
BTC & Gold Price Action Analysis | Key Levels and Trade SetupsIn today’s video, I dive into the latest price action analysis for Bitcoin (BTC) and Gold. We’ll be breaking down key support and resistance levels, identifying potential breakout zones, and discussing trade setups you can keep an eye on. Thank you for watching! If you found this analysis helpful, don’t forget to like the video and subscribe to the channel for more in-depth market analysis and swing trade ideas. Your support helps me continue bringing you high-quality content every week! Feel free to share your thoughts in the comments below and let me know which asset you’re keeping an eye on this week. Happy trading! #BTC #Gold #PriceAction #TradingAnalysis #Forex #SwingTrading
OANDA:XAUUSD
by Alzubair_fx
Gold : Still looking goodDespite the strong Dollar Index gold doing good and currently trading near to All time high and still looking good to go higher, on technical basis also, If we watch the daily CPR formation , CPR is ascending for today also + gold price trading above weekly pivot (2640),So technically the price is still favourable for bulls and we can expect continuation in higher side as per this formation, yesterdays decline/ correction was not convincing enough for bears and I think it is normal corrective structure after a bullish structure and this correction can add more fuel for incoming bullish structure at least towards 2685. In Lower side we have to watch weekly Pivot as major Level for continuation or reversal point .
OANDA:XAUUSDLong
by TheGoldenCircle
XAUUSD’s Final Wave Completion – What’s Next?XAUUSD has formed a corrective pattern on the hourly chart, offering a potential breakout setup. The correction has spanned over two weeks, during which the price has frequently crossed the EMAs (50/100/200 ) on the hourly timeframe. Meanwhile, the 20 EMA has consistently acted as solid support on the daily timeframe. The pair has completed its final wave 5 of wave (C) at 2604 and has since started to rise sharply. Currently, XAUUSD faces a strong resistance level at 2670 , which marks the high of wave (B). If the price breaks above 2670 , traders can target the following levels: 2685 - 2715 - 2735 +. If the breakout fails, the correction may continue, as 2670 is the key hurdle for the bulls to overcome. Further updates will follow soon.
OANDA:XAUUSD
by Trade-Technique
1
"Gold's Danger Zones: Are You Prepared for the Next Move?"Gold Trading Analysis: Key Levels for Your Strategy In this analysis, we focus on two critical levels for gold trading: 2665.624 and 2670.240. These levels are your danger zones, and you should only use them on the 15-minute timeframe. Here’s how to approach it: 1. Breakout and Retest: Whenever you see a breakout at these levels on the 15-minute chart, wait for a retest before entering. This increases your chances of a successful trade. 2. Set Your Targets: After entry, aim for the next level as your profit target and enjoy the gains! 3. Avoid Large Candle Breakouts: If there’s a breakout with a large candle on the 15-minute timeframe, exercise caution. Such breakouts can lead to bigger stop-losses, increasing the risk of getting stopped out. Your feedback is crucial! If you find my analysis helpful and are making profits by following these levels, please comment and let me know. Your support motivates me to provide more insights, so share how much profit you’ve made using these strategies!
OANDA:XAUUSD
by XTrap_000
TATA STEEL - When Waves are Messi don't try to be a GOAT. Tata Steel is in this Upward sloping Channel since June 2022 all the rise looks messy means all pullbacks have over lapped with previous rise so instead of forcing Elliott Wave we will try to study it with simple technical approach. We have drawn a trendline connecting lows which has held 4 times & which was also 50 Week Moving Average so buyers are happy to go long at 50 WMA & this trend line support. Supply comes from parallel channel of this trendline so looking at his chart risk reward looks attractive for buyers as of now. Weekly close below 147 will be sign of bulls losing control as of now longs looks good for short term to medium term view. I find people marking everything as impulsive or corrective but when you cannot spot a clear wave structure better to avoid the stock if its low volume or KISS (Keep It Simple Stupid) strategy works best.
NSE:TATASTEELLong
by churiwalvikram
Gold: Bulls seek $2,647 breakout and US data validationGold prices continue to recover after the US inflation data, despite staying within a two-week bearish trend. Early Friday, buyers look forward to the first readings of the University of Michigan Consumer Sentiment Index and Consumer Inflation Expectations for October, along with the September Producer Price Index (PPI). Bulls brace for fresh record high Whether it's the US Dollar's muted reaction to better-than-forecast Consumer Price Index (CPI), optimism around potential stimulus from China, or expectations of softer US data, gold prices aim for a fresh all-time high. Technically, the recent breakout above the 100-SMA, bullish MACD signals, and a positive RSI (14) reinforce the upward momentum. Technical levels to watch Among the key technical levels, $2,647 gains immediate attention as it comprises the top of the bearish channel, a break of which will defy the fortnight-long bearish chart pattern. Following that, the precious metal’s quick jump toward the all-time high surrounding $2,685 can’t be ruled out. Moreover, a clear breakout past $2,685 would signal strong momentum for gold buyers, potentially paving the way for a rise beyond the $2,700 mark. On the downside, the 100-SMA at $2,636 provides immediate support for gold prices, alongside an upward-sloping trend line from early August near the $2,600 mark. If XAUUSD falls below $2,600, the focus will shift to the bottom of the bearish channel and the 200-SMA, which are near $2,595 and $2,580, respectively. Notably, if prices break below $2,580, gold could enter a short-term bearish trend, potentially targeting the $2,540-$2,530 range. Upside looks promising With expectations of lower Fed rates and potential softness in upcoming US data, combined with bullish technical indicators, gold prices seem poised for upward movement. This bullish outlook could change only if the US statistics challenge the likelihood of two more rate cuts from the Federal Reserve, which would negatively impact the US Dollar—an outcome that appears unlikely.
OANDA:XAUUSD
by MTradingGlobal
Gold : Ready for another rallyAs discussed since the beginning of this week that every Dip is a buying opportunity on gold, gold seems to following that and yesterday trading session after CPI numbers gold printed a good positive day closing and now trading above weekly S1 , Weekly S1 was acting as resistance on Intra day. For today the daily CPR relation is positive and price opened with a little gap on CPR (Virgin CPR) this is indication that price is in good bullish momentum right now and if price hold above weekly S1 (2626) then bulls can target weekly pivot on Intra day (2650). .
OANDA:XAUUSDLong
by TheGoldenCircle
6