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Gold price rising? Only to plunge again! ICT Approach To XAUUSD.Hello Traders! We see a test of the 2080 resistance level once again. Weekly and daily ranges are marked on the chart. The market is in premium zone on the weekly and Lower High (LH) picture is maintained on the daily. Also, we're in a discount zone on the daily . Hence some retracement to equilibrium and the daily bearish order block (OB) is expected. The daily OB is also overlapping with a weekly bearish OB . That makes the 1940-1945 zone an extremely important resistance. Strong selling is expected from the said level. The quarter has just ended on 30th June 2023 and this quarter is expected to be bearish as well. Although the seasonal tendency of XAUUSD in July is bullish, the same may not be expected this time but could be a cause for deeper retracements. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
EIGHTCAP:XAUUSDShort
by UnknownUnicorn27677748
Gold sellers must break $1,895 to show dominance on NFP dayWith a clear U-turn from the 100-EMA, Gold price again hits the key support around $1,895 comprising the 200-EMA and an upward-sloping trend line from late November 2022. That said, bearish MACD signals and downbeat RSI join the market’s risk-off mood to offer extra incentives for the XAUUSD bears. With this, the Gold sellers are more likely to take out the $1,895 support, which in turn could direct the prices toward the early March swing high of around $1,858. However, the 50% Fibonacci retracement of November 2022 to May 2023 upside, near $1,845, will precede the yearly low marked in February around $1,805 and the $1,800 round figure to limit the metal’s further downside. On the contrary, a successful daily closing beyond the 100-EMA level of around $1,935 needs support from the downbeat US jobs report to recall the Gold buyers. In that case, February’s peak of around $1,960 and the previous monthly high surrounding $1,983 could check the XAUUSD bulls before allowing them to visit the $2,000 psychological magnet. It’s worth noting that the bullion remains on the front foot once it closes beyond the $2,000 mark, which in turn helps it challenge the tops marked in April and the multi-year high registered in May, respectively near $2,050 and $2,070. Overall, the Gold price is all set to break the key support and recall the bears but the short positions should be taken with care ahead of the Nonfarm Payrolls (NFP).
OANDA:XAUUSD
by MTradingGlobal
GOLD MONTH TIME FRAMEAll time Low @20.540 All time High @2075.282 03Aug2020 in Black color. There's a pullback on 07March2022 in Red color. We can see here a Extrem POI on XAUUSD @438.184 - 410.486 is not mitigate yet but sooner or later price will come down to mitigate. I have marked five POI the last POI is @1226.477 - 1161.197 on 01Aug2018 01Sep1999 we saw a Bull Run {Bullmarket} till 01Sep2011 @1921.070 we thought that's a all time high @1921.070 because price started to drop. And price drop! till 01Dec2015 On 03Aug2020 Gold created new high @2075.282 and that's a all time HIGH again price come down to pushup to create new high but markets fuel tank get low and there we get a Rejection price failed to touch the all time high on 07March2022 Another Rejection on 07May2023 I THINK SOON WE CAN SEE A NEW HIGH ON GOLD. If.... price cross @1618.025 this level then we can see a mitigation @1226.477
OANDA:XAUUSDLong
by VIJETEJBHIMRAOTAMBARE
Copper looks Bullish possible Elliott wave countsHello Friends, Here we had shared possible Elliott wave counts on copper international chart. Good thing is wave counts are aligned with each others in multi time frames, Over all it looks good to go long as per wave structure, whole scenario is shared in this video post, so please go through out this video post to understand the Analysis of copper as per Elliott waves theory. 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.
COMEX:HG1!Long
by RK_Chaarts
2
Gold sellers are ready to break $1,900 but road to the south is Gold stays on the way to post the third consecutive weekly loss even as the one-month-old falling trend line prod XAUUSD sellers around $1,900 of late. Also challenging the quote’s further downside is the nearly oversold RSI (14) line. However, the bullion’s sustained trading beneath the fortnight-long falling trend line and the 200-SMA, respectively near $1,918 and $1,956, joins the bearish MACD signals to keep the sellers hopeful of witnessing further downside. In a case where the quote crosses these hurdles, the monthly top will join the late May’s swing high, around $1,983-85, to act as the last defense of the bears. Meanwhile, the Gold seller’s dominance past the $1,900 round figure will need validation from the 61.8% Fibonacci Expansion (FE) of its June 09-23 moves, near $1,898. Following that, the 78.6% and 100% FE, close to $1,887 and $1,873, should be quick to lure the XAUUSD bears. It’s worth observing that the precious metal’s weakness past $1,873 will have the early March high of $1,856 as an intermediate halt before dragging prices toward the yearly low marked in February around $,804. Overall, Gold price is likely to remain bearish but the south run is less likely to be smooth.
OANDA:XAUUSD
by MTradingGlobal
Gold Price gradually declines towards $1,900Gold Price breaks a month-old bearish channel towards the south and suggests further downside past the latest three-month low surrounding $1,920. However, the oversold RSI conditions keep offering intermediate bounces as the bullion drops towards the 61.8% Fibonacci Expansion (FE) of May 15 to June 16 moves, near $1,907. Following that, the $1,900 round figure may test the XAUUSD bears before highlighting the 78.6% FE level of around $1,890. In a case where the precious metal remains weak past $1,890, the June 2022 peak of near $1,880 and early March 2023 high close to $1,858 will act as the last stops for the bulls to leave the throne and give control to the bears. On the contrary, the bottom line of the stated bearish channel, close to $1,925 at the latest, can escalate the corrective bounce toward the $1,940 hurdle. However, a convergence of the 200-EMA and a three-week-old descending trend line, near $1,960, appears a tough nut to crack for the Gold buyers afterward. Even if they manage to cross the $1,960 resistance, the top line of the aforementioned falling trend channel, close to $1,970, will be the final battle before welcoming the bulls. Overall, the Gold price is likely to decline further but the downside appears slow and steady.
OANDA:XAUUSD
by MTradingGlobal