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Xauusd(w)

Gold (XAUUSD) Trading at Lower End of the Hourly ChannelGold (XAUUSD) Trading at Lower End of the Hourly Channel: A Potential Rebound Gold (XAUUSD) is currently trading at the lower end of its hourly channel, around the 2312 level. This price point is significant as it aligns with a key demand zone identified on higher time frames. If the channel boundaries are respected, we could anticipate a recovery towards the upper end of the channel. Key Points to Consider: Support at Current Level: The 2312 level has historically acted as a strong support, coinciding with a demand zone on higher time frames. This increases the probability of a bounce from this region. Channel Dynamics: The hourly channel has been well-defined, with price consistently respecting its boundaries. Given this pattern, a move towards the upper end of the channel seems likely if the lower boundary holds. Trade Opportunity: This setup presents a potential long trade opportunity. Entering a position at the current level with a target near the channel's upper boundary could offer a favorable risk-to-reward ratio. Trade Setup: Entry: 2312 (current price level) Target: Upper end of the channel (to be determined based on the channel's slope) Stop Loss: Below the demand zone (specific level to be determined based on risk tolerance) Conclusion: Keep an eye on the price action around the 2312 level. If support holds, we could see a strong upward move towards the channel's upper boundary, presenting a lucrative trading opportunity. Always manage risk appropriately and adjust stop loss and take profit levels as the trade progresses. Happy trading! 🚀
FOREXCOM:XAUUSDLong
by ThirstyBull
XAUUSD June 7, 2024 before important Non Farm news Today we will have information about the Non Farm index published. From Non Farm ADP data US ADP employment rose 152,000 in May, less than the gain in April. It was below market expectations and hit a three-month low. Additionally, April data has been revised downward. Employment in the goods-producing sector increased by just 3,000, down significantly from 47,000 the previous month. The services sector increased by 149,000 jobs, of which 55,000 came from trade, logistics and utilities, but the number of jobs in the information industry continued to decrease by 7,000. We realize that the US labor market is weakening, because ADP is the index used to predict official Nonfarm, so today's index will be very important for the upcoming gold trend. Many indicators published during this time signaled that the US economy was weakening due to the impact of the FED's tightening monetary policy to reduce inflation. This will be one of the important conditions for the Fed to loosen monetary policy in the coming time. Looking at H1 we see that a small wave 1 2 3 4 5 is about to complete. Wave 3 target has been completed and currently the price is completing waves 4 and 5. - We measure the target of wave 5 at the price range of 2390 and 2413 - After the price completes wave 5, the next wave will be the abc correction - We will monitor Take Profit with purchased transactions at the price range we have previously given such as area 2317 and area 2354. - Short-term sell orders can be initiated at this target price range of 2390 or 2413. Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.
OANDA:XAUUSDLong
by DEEKOP
Gold price waiting for news tonight will increase sharply!Gold held at $2,370 per ounce on Friday, hovering at two-week highs, as investors await the US non-farm payrolls data due later in the day to assess the country’s economy’s health and seek cues on the Federal Reserve’s potential rate-cut timeline. The bullion is also set for its first weekly gain in three, as recent slew of labor market data bolstered expectations that the Fed might at least slash rates twice this year. 🔴SELL GOLD: 2399 - 2401, SL: 2405 🟢BUY GOLD: 2352 - 2350, SL: 2346 🔝Technical analysis: Yesterday, gold returned to test support + Trend H4 as expected and continued to increase strongly to the Sell area 2378-2380, in response falling another 10 prices. Currently, the price range of 2380-2355 seems to be kept until Nonfarm tonight ⛔️Breakout: 📈 Breakout on: 2380 - 2400 - 2414 📉 Breakout below: 2350 🔼Support: 2351 - 2345 - 2340 - 2330 🔽Resistance: 2390 - 2400 - 2405 - 2414 GOOD LUCK EVERYONE👍
OANDA:XAUUSDShort
by Scalper_Ananda
“Golden Cross” directs Gold buyers toward $2,400 as US NFP loomsGold braces for the first weekly gain in three even as it seesaws at the highest level in a fortnight early Friday. That said, the precious metal’s latest inaction could be linked to the cautious mood ahead of the US monthly employment data including the headline Nonfarm Payrolls (NFP). Even so, the quote’s capacity to reverse from a month-old rising support line, backed by the bullish MACD signals and upbeat RSI (14) line, keeps the buyers hopeful. Apart from that, the 50-SMA also crosses the 200-SMA from below and portrays a bullish moving average crossover known as the “Golden Cross”, which in turn also suggests the XAUUSD’s upside. With this, the bullion is almost certain to hit an 11-week-old previous support line, now immediate resistance near the $2,400 threshold. However, a horizontal area comprising tops marked since early April, around $2,431-33, quickly followed by the all-time high of $2,450 flashed in May, will challenge the bulls afterward. On the contrary, a strong US jobs report and a firmer US Dollar could drag the Gold price back toward the aforementioned SMAs, close to $2,346-45 by the press time. Following that, a one-month-old ascending support line near $2,320 and the $2,300 round figure will lure the XAUUSD bears. It’s worth noting that May’s low of nearly $2,277 acts as the final defense of the buyers, a break of which will give control to the bullion sellers targeting late March swing high surrounding $2,222. Overall, the Gold price is likely to extend the previous run-up but the upside room is limited.
OANDA:XAUUSD
by MTradingGlobal
7th JUNE GOLD ANALYSISTo analyze the potential movement in gold prices based on the anticipation of nonfarm payroll news, and with specific target prices and stop-loss settings as you've described, we'll look into several factors: Nonfarm Payroll (NFP) News Impact: The nonfarm payroll report is a key economic indicator that represents the total number of paid U.S. workers excluding farm employees, government employees, private household employees, and employees of nonprofit organizations. Significant deviations from expectations in this report can cause substantial volatility in the financial markets, including gold. Gold's Response to Economic Indicators: Typically, gold is considered a safe-haven asset. In times of economic uncertainty or when the data is worse than expected, investors might flock to gold, driving up its price. Conversely, if the economic outlook is strong, gold prices can decrease as investors turn to riskier assets. Technical Analysis: You mentioned specific price targets for gold: Entry Zone: 2394-2398 Stop-Loss (SL): 5 prices above the entry Risk-Reward Ratio: You've set a risk-reward ratio of 1:3. This means for every unit of risk taken, the potential return is three times that risk.
OANDA:XAUUSDShort
by TradingGuruTop
2
Gold is bullish above 2360 2362 till 2385 2395Good Morning Traders, Till the time gold is moving above 2360 and 2362 we can se more above levels 2380 2385 and 2390 2395. If Gold will break 2360 and sustain below then only we can see 3450 2345 and 2340 Reson for gold bullishness is Israel’s war on Gaza updates:At least 40 people died in the strike on the United Nations-run school in Nuseirat, medical workers at the nearby Al-Aqsa Martyrs Hospital said. Our preference is sell from high and buy from dip Plan accordingly, Happy Trading 😊
FXOPEN:XAUUSDLong
by vikasvasusharma
XAUUSD on June 6, 2024, the uptrend officially begins? Yesterday Israel attacked Hamas, causing gold prices to increase sharply last night despite the ISM PMI index being greater than 50. Looking at H1, the news of Israel attacking Hamas has caused the price of Gold to rise through tradingrank for more than a week now. - Price surpasses 2464 and confirms wave 5 has ended at our target area of ​​2317. - From the chart we see that wave 5 is an Ending Diagonal Triangle (ED) wave. This wave usually appears at the end of the trend. When this wave ends, a new trend will open - So we hope the next price target is 2397 - Looking at the H4 momentum indicator, we see that this indicator is in the overbought zone and is about to reverse. Looking at the H1 momentum indicator, we see that this indicator is entering the overbought zone. So in the immediate future, we expect a correction to confirm wave 1 and wave 2. - We have 2 temporary target areas measured on the H1 chart measured from existing data. We continue to observe to wait for this confirmation adjustment to complete. In our plan, we pay attention to the 2397 zone. If the price reaches this zone, there may be a big correction that we can take advantage of to sell down. Adjustment areas 2464 and 2354 may be the price will retest these areas and we can proceed to buy up. Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD June 5, 2024 Yesterday's decline has endedWith the PMI being lower than expected at only 48.7 compared to 49.2 in the previous period, if this index is lower than 50, it signals that the expansion of industrial production scale is shrinking. With this index being lower than 50 for two consecutive periods, especially this period being lower than the previous period, it is a sign that the US economy is showing signs of stagnation. The main impact is that interest rates remain high for a long time, making it difficult for people and businesses to access capital. This continues to be a sign for the Fed to decide to cut interest rates in the near future. Looking at H1 we see - After the increase on the 3rd, the price touched the target of wave 5, we expected that wave 5 would have ended and the price would begin to continue a new uptrend. At that time, we also said that to confirm that wave 5 has ended, the minimum condition is that the price must break the 2464 zone. - As of yesterday, the price had dropped back to the target wave 5 area that we measured before. This signals that wave 5 could be a diagonal triangle pattern according to the Elliot principle. - So from H1 in the diagonal triangle model, the price has now reached the end of wave 5 in this diagonal triangle. - We focus on the wave 5 target areas at 2317 and 2311 to buy. - Or safer, we wait for the price to break the upper level of the diagonal triangle and wait for confirmation to proceed with buying.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD June 4, 2024 has the uptrend begun? Yesterday after the PMI news was announced, we witnessed a price increase to the 2354 area. - The PMI index is used to measure the degree of expansion of industries. We see that this index is lower than the previous period, which continues to support the fact that the US economy currently continues to show signs of decline. - In recent weeks, economic indicators have signaled that the US economy is showing signs of decline, combined with inflation cooling down, this is a signal for the FED to cut interest rates in the near future. . Looking at H1 last night's increase continues to confirm for us that the wave 5 target has been achieved at the price range of 2317. - So now we may have a new trend forming. We have the 2464 price range used to confirm this trend when the price surpasses this price range. - Currently, we expect a correction to consolidate this newly formed trend when the price does not surpass the 2315 price range. That is, we measure the target of this correction at the 2335 and 2330 zones. Planning to buy more when the price reaches these areas, we wait for a reaction to find a reversal signal to execute the buy order Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.
OANDA:XAUUSDLong
by DEEKOP
1
4th June Gold AnalysisAs of now, the gold price stands at $2,351 per ounce. To capitalize on potential selling opportunities, we've delineated two key zones where we anticipate strong sell entries, guided by the Smart Money concept, which focuses on identifying areas where institutional money is likely to have a significant impact. First Sell Zone: 2356-2362 USD - This zone is identified as a potential area for initiating sell orders. The range closely aligns with minor resistance levels where institutional sellers are expected to enter the market. Traders should monitor price action closely in this band for signs of reversal patterns or rejection signals that indicate a good selling opportunity. Second Sell Zone: 2365-2370 USD - Slightly higher on the scale, this zone represents a more aggressive selling area. It is selected based on historical resistance and the likely presence of order blocks placed by institutional traders. Entering sell orders in this zone could yield higher returns, but it comes with a greater risk, necessitating stringent risk management strategies. By employing the Smart Money concept, we focus on zones where large market players are likely to create significant price movements. Traders are advised to wait for confirmatory signals within these zones before placing trades to ensure alignment with smart money actions and to maximize the potential for profitable outcomes.
OANDA:XAUUSDShort
by TradingGuruTop
XAUUSD June 3, 2024 Gold's target zone?We expect the price to reach the target zone of wave 5 to find conditions for executing buy orders in this zone. As Friday passes, the market eagerly awaits the personal consumption expenditure (PCE) price index to be announced later. It is expected to show moderate price pressure in April, which would support the case for a rate cut later this year. Anticipation of interest rate cuts is favorable for gold as a non-yielding asset. Looking at H1, we see that the price dropped sharply last weekend. Currently the price is in the 2330 area - Looking at RSI, we see the phenomenon of bottom divergence. This signals that the immediate selling force has weakened. Maybe the downward momentum will no longer be strong - Looking at the current price structure, we can see that the price is currently completing wave 5 - We have wave 5 targets which are 2 price zones: 2317.6 and 2311.5 - Looking at the momentum indicator, we see that the momentum is currently in the overbought zone and could reverse at any time. - We expect the price to reach the target zone of wave 5 to find conditions for executing buy orders in this zone. Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.
OANDA:XAUUSDShort
by DEEKOP
31ST MAY GOLD ANALYSISTo analyze the gold price scenario where it corrects before rising to target levels of $2,357 to $2,362, where a selling strategy could be implemented with a stop-loss (SL) of 5 points below the entry price, we need to consider several factors that influence gold prices. This includes technical analysis and market sentiments. Technical Analysis Trend Analysis: If gold prices are trending upwards, the correction might be a retracement in a larger bullish trend. Tools like Fibonacci retracement levels can help identify potential support levels during corrections. Resistance Levels: The specified target prices ($2,357 to $2,362) must be analyzed within the context of historical resistance levels. If these prices have previously acted as resistance, they may do so again. Volume and Momentum: Volume during the rise should be observed; increasing volume can confirm the strength behind the upward movement. Momentum indicators like the Relative Strength Index (RSI) or the MACD can provide insights into whether the gold price is overbought or oversold during these phases. Moving Averages: Using moving averages (like the 50-day or 200-day) can help smooth out price data to identify the general direction of the market trend and potential reversal points. Market Sentiments Geopolitical Events: Events like economic sanctions, elections, or military conflicts can affect market sentiment and influence gold prices. Economic Data: Releases such as inflation reports, employment data, and GDP growth can impact investor behavior towards safe-haven assets like gold. Central Bank Actions: Decisions on interest rates or comments from central bank officials can lead to market movements. Strategy Implementation Entry Point: Determining the entry point during the correction phase is crucial. It should ideally be at a significant support level where the price is expected to rebound. Stop-Loss (SL): Placing the SL at a price 5 points below the entry level is a risk management technique to minimize potential losses should the market move against your position. Take Profit (TP): Setting the selling point at $2,357 to $2,362 based on prior resistance levels allows for profit realization before potential pullbacks. Risk Management Risk/Reward Ratio: Ensure that the potential reward justifies the risk being taken. A common approach is to aim for a risk/reward ratio of at least 1:2. Position Sizing: Calculate the appropriate position size based on how much of your total capital you are willing to risk on a single trade. Conclusion Implementing this strategy requires monitoring the market closely for signs that support the hypothesis of a correction followed by a rise. Always be prepared to adjust the strategy based on new market data and economic indicators.
OANDA:XAUUSDShort
by TradingGuruTop
3rd June Gold AnalysisTo create a focused analysis for a sell plan strategy on gold using the Smart Money Concept (SMC) indicator, especially considering the ongoing strong downtrend, we'll consider the current market dynamics, how the SMC indicator can guide decisions, and outline a specific strategic approach referred to as "2331-2336". Current Gold Market Dynamics The price of gold is influenced by a myriad of factors. Key among these are: US Dollar Strength: Typically, gold moves inversely to the U.S. dollar. A stronger dollar makes gold more expensive for holders of other currencies, reducing demand. Interest Rates: Rising interest rates can lead to lower gold prices as investors seek yield-bearing assets. Economic Confidence: Improved economic outlooks often draw investors away from gold, which is considered a safe haven during uncertainty. Technical Factors: Technical selling can be triggered when gold breaks key support levels, leading to further declines.
OANDA:XAUUSDShort
by TradingGuruTop
XAUUSD week 1 June 2024 US economy going down?1. US Q1 GDP was revised down due to weak consumer spending. 3. Israel will not end the conflict to reach an agreement to release all hostages. 4. OPEC+ is working on a complex production cut agreement for the period 2024-2025. 5. US April pending home sales suffered the largest decline in three years. With important information last week we see - The US economy is under strong pressure from the Fed's tightening monetary policy. - Besides, OPEC cutting oil production will push oil prices up and when oil prices increase, gold also increases. - The continued escalation of the Israeli conflict will push gold prices higher. Looking at H4 we see - After news of PCE, gold price increased sharply then decreased, completely negating the previous increase and breaking 2323 stone. - The 2323 price range was broken, invalidating our previous wave counting process with the expectation that the correction had ended. So with the 2323 price range being broken, the correction process is still continuing. - So it is possible that the price will continue to complete the target of wave 5 at the price range 2317 and 2311. - We have the 2465 zone which confirms wave 5 has completed when the price surpasses this zone - Next week we will wait for the price reaction in these areas to conduct buying transactions. Deekop's analysis is free from any personal bias intended to serve everyone. I can't always be right - no one can. But my analyzes reflect Deekop's meticulous assessment of the market situation in the medium and long term and nothing more to help people have the best trading plan.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD May 31, 2024 gold price reaches correction target?Our trading plan is to wait for the price to react in the price range 2337 to 2332 to look for buy signals. The news was announced yesterday Preliminary GDP news is 1.3%, lower than expected 1.6% Applications for unemployment benefits were 219k, higher than the previous period's 216k News that pending home sales are down 7.7% Yesterday's news indicators are showing that the US economy is facing difficulties due to the Fed's monetary policy control. Looking back a bit, we see that the CPI (Consumer Price Index) this period has decreased compared to the previous period. Tonight, the PCI (Personal Consumption Index) will be announced. If this index cools down, US inflation should have a good signal. This will contribute to helping the FED loosen its current monetary policy. The goal of tightening monetary policy is to ensure inflation reaches 2%, and when tightening monetary policy, raising interest rates will cause the economy to stagnate. Therefore, if US inflation has shown signs of cooling down while the economy is showing signs of stagnation, it is necessary for the Fed to consider policies to ensure a balance between economic goals and inflation goals. . Looking at the H1 chart, we see that the first target of wave 5 was achieved, then the price rebounded. - After the price bounces back, it is still early to say the correction has ended because the correction is confirmed to end when the price closes above 2450. But at least we will expect a price increase to the target. 2400 next week. - Currently we have price that has completed wave 1 as shown on the chart and is completing wave 2. We have a very good buying target which is the price range from 2337 to 2332. Our trading plan is to wait for the price to react in the price range 2337 to 2332 to look for buy signals.
OANDA:XAUUSDLong
by DEEKOP
XAU- Gold price today: Gold fallsGold dropped to around $2,330 per ounce on Thursday due to increasing US Treasury yields and demand for the greenback following hawkish remarks from Fed officials. Fed Atlanta President Bostic expressed uncertainty about reaching 2% inflation and highlighted significant price gains. Gold moves towards 2350, passing through the lowest bottom of wave 3, but the candlesticks in H4 are leading to a situation where wave 5 is not completed and opens a double bottom pattern. It is easy to break out when the price surpasses the 2361 area SELL GOLD: 2373 - 2375 , SL: 2379 BUY GOLD: 2317 - 2315, SL: 2311 (scalping) Breakout & retest: - Breaking and closing on: 2354 - 2361 - 2374 - Break and close below: 2335 - 2328 - 2315 Support: 2328 - 2316 - 2307 - 2300 - 2290 Resistance: 2350 - 2365 - 2378 - 2384 GOOD LUCK EVERYONE
OANDA:XAUUSDShort
by Scalper_Ananda
XAUUSD on May 30, 2024, the rally is about to beginWith the wave 5 targets projected on the chart, we have 2 target zones: zone 1 is 2322.7 and target zone 2 is 2311.5. Today will release news on unemployment claims, preliminary GDP, and pending home sales, with forecasts worse than last period, if tonight's actual index reflects correctly. This seems to signal that the US economy is being affected by monetary policy due to maintaining current high interest rates. Tomorrow is an important day to announce the PCI index (Index of price changes and consumer goods purchased by consumers excluding food and energy). If this index cools down, it could influence the Fed to loosen current monetary policy. Looking back over recent times, we see that the CPI inflation index has begun to show signs of decreasing, combined with economic pressure that may cause the Fed to decide to loosen its monetary policy, especially tomorrow if PCI index cooled down. Looking at H1, we see that the price has completed wave 4 and is continuing to complete wave 5. - We see that the current price has broken below the supply and demand balance zone as shown on the chart - With the wave 5 targets projected on the chart, we have 2 target zones: zone 1 is 2322.7 and target zone 2 is 2311.5. - We wait for the price to reach the 2322.7 or 2311.5 areas to find reversal signals to decide to buy.
OANDA:XAUUSDShort
by DEEKOP
NASDAQ - IDEA - SETUPFOREXCOM:NAS100 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!!!!
FOREXCOM:NAS100
by Phinics
NZDUSD SHORT 1H TIMEFRAMEFOREXCOM:NZDUSD 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!!!!
Short
by Phinics
US30 SetupFOREXCOM:US30 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!!!!
FOREXCOM:US30Long
by Phinics