GBPUSD | 1D | my view Please be careful with this pattern most of the time it gives false breakouts and sudden fall, sometimes it takes a retest and creates a bullish setup, if we see a rejection from the resistance level we can look for shorting opportunities, if we see a successful breakout retest and bullish confirmation candles then we can go for the long position. (only enter if we get a confirmation candle, do not enter in a trade early or without analysing the chart)
Xauusd(w)
EUR/USD Wave Analysis:LONG
📈🌍 Uncover the intricacies of EUR/USD price action through an insightful wave analysis. We dissect the evolving wave patterns to reveal the potential opportunities that lie ahead. Join us as we delve into the afterwaves of 12345 and prepare for the upcoming correction wave, setting the stage for a profitable journey through Wave ABC!
🔍 Key Points:
Deconstructing Wave Sequence: Embark on a journey through the recent EUR/USD price movements, meticulously breaking down the quintessential five-wave pattern (12345). Gain a comprehensive understanding of each wave's characteristics and its contribution to the overall market trend.
Approaching the Correction Wave: Unveil the significance of corrective waves within the realm of forex trading. We examine the various scenarios and projections for the impending Wave ABC, shedding light on potential price levels, patterns, and timing.
Profitable Potential: Learn to harness the power of correction waves for profitable trading. We lay out strategies that empower traders to identify optimal entry and exit points, enabling them to capitalize on the market's risk-reward dynamics.
Capturing Wave BC: Dive into the heart of Wave BC, the second phase of the corrective pattern. Understand the external factors influencing its formation and acquire the insights needed to align your trading strategy for potential gains.
Risk Management Mastery: Master the art of risk management during correction waves. Explore effective techniques to safeguard your trading capital while maximizing profit potential, ensuring a balanced approach to your trading endeavors.
Leveraging Technical Indicators: Discover an arsenal of technical indicators and tools that bolster your EUR/USD analysis. Utilize these tools to validate your insights and fine-tune trading decisions during this pivotal phase.
Real-life Case Studies: Immerse yourself in historical instances of correction waves within the EUR/USD pair. Draw parallels between past patterns and outcomes to enhance your decision-making prowess.
📊💰 As EUR/USD takes center stage, equip yourself with the knowledge and strategies required to navigate these exciting waves of opportunity. Embark on a journey of profit potential during the correction wave – Wave ABC has the potential to unlock lucrative trades. Stay informed, trade with confidence, and make well-informed decisions with our comprehensive analysis!
(Note: Trading carries inherent risks, and historical performance does not guarantee future results. This analysis is for educational purposes and should not replace professional financial advice. Always conduct thorough research and consider seeking guidance from financial experts before executing trading decisions.)
XAUUSD_Bull lost the initiative for the time beingGold price today on August 17 on the market continued to plummet to 1893.03 USD/ounce and lost the support level of 1,900 USD/ounce.
Gold weakened because the dollar in the international market soared in the past few days in the context of the US Federal Reserve (Fed) maintaining tight monetary policy. Meanwhile, many Asian countries accelerate monetary easing to revive their economies, pushing down gold prices.
The USD is also increasing in the short term. Gold prices may remain under downward pressure for the rest of the summer. However, the short-term drop in gold is seen as an entry opportunity. Gold is likely to increase rapidly in the spring and next year. Gold's long-term uptrend is appreciated.
Trading plan:
BUY XAUUSD around price: 1885 - 1883
Stoploss : 1879
Take Profit : 1890
Take Profit : 1900
Take Profit : 1905
Plan Buy waits for the news todayThe dollar strengthened after some disappointing Chinese economic indicators stoked concerns about global growth, boosting demand for the safe-haven greenback.
Recently, the dollar rose on concern that prolonged inflation will cause the Federal Reserve to keep interest rates higher for longer than previously expected by traders.
The USD is also increasing in the short term. Gold prices may remain under downward pressure for the rest of the summer. However, the short-term drop in gold is seen as an entry opportunity. Gold is likely to increase rapidly in the spring and next year. Gold's long-term uptrend is appreciated.
BUY XAUUSD around price: 1885 - 1887
Stoploss : 1880
Take Profit : 1890
Take Profit : 1900
Take Profit : 1905
Gold stays bearish despite corrective bouncesGold braces for the fourth weekly losses even as a one-month-old falling support line defends intraday buyers. That said, the recovery appears elusive unless crossing the 200-SMA level of around $1,940. Even so, multiple tops marked since late May, surrounding $1,985, constitute a strong resistance for the bulls to cross before taking control. Following that, a run-up toward crossing the $2,000 round figure will be a cakewalk for the XAUUSD buyers while $2,050 and May’s peak of around $2,066 could gain the market’s attention afterward.
On the flip side, the aforementioned support line, around $1,887 by the press time, could keep poking the Gold sellers. However, a break of which could quickly drag the XAUUSD to the 61.8% Fibonacci Extension (FE) of the metal’s May-July moves, near $1,863. It’s worth noting that the bullion’s weakness past $1,863 will make it vulnerable to testing the yearly low of around $1,804, quickly followed by the $1,800 threshold.
Overall, Gold sellers keep the reins unless the prices remain below $1,985 but the downside room appears limited, which in turn suggests intermediate bounces in the price.
Gold Price Forecast: XAU/USD looks weakGold (XAU/USD) prices remained pressured at $1,901 in the early hours of the Asian session on Wednesday as it reversed a late-Tuesday correction from seven-week lows in cautious mood context.
That said, the risk aversion engendered by China coupled with upbeat US data and belligerent negotiations by the Federal Reserve, as well as fears of seeing a downgrade credit ratings of major US companies, weighed on sentiment and XAU/USD the previous day.
That said, bullion initially rebounded early Tuesday amid market consolidation ahead of today's Federal Open Market Committee (FOMC) Monetary Policy Meeting Minutes.
Trading plan: BUY GOL D 1893-1895, SL: 1885, TP: 1905,1910
Remember to install SL to ensure the safety of your account, if you agree with my strategy leave a comment below
GOLD - Accumulate around 1910 USDWith news Core retail sales better than expected.The USD immediately benefited and pushed gold down
However, when GOLD touched the H4 trend, it bounced back, causing gold to continue to enter the trajectory of the parallel trend.Gold has now bounced and created a short-term buying trend
The US Dollar Index (DXY), which measures the strength of the US Dollar (USD) against a basket of six major currencies, continues its fifth consecutive day of gains.
Trading plan:
BUY XAUUSD soup around the price: 1896 - 1894
Stoploss : 1890
Take Profit : 1905
Take Profit : 1910
Take Profit : 1920
There are signs of gold's recoveryTVC:GOLD Price cheers US Dollar decline, as well as mixed effect on market consolidation ahead of top US data/events to depict recovery correction rebound from 5-week low.
Going forward, US Retail Sales for July, expected to be 0.4% month-on-month versus 0.2% prior, will be important to keep an eye on the intermediate directions of TVC:GOLD Price.
US retail sales, FOMC Minutes looking for clear directions, risk catalysts also in the spotlight.
Trading plan:
SELL XAUUSD: 1919 - 1921
Stoploss : 1926
Take Profit : 1915
Take Profit : 1910
Take Profit : 1900
Note : TP, SL full to be safe and win the market !
GBPUSD BUY Trade Idea: BUY
📍 Entry: 🎯 Target: ⛔ Stop Loss: (MARKED IN CHART)
💡 RISK REWARD 1 : 4
💰 Risk 1% of your trading capital.
⚠️ Markets can be unpredictable; research before trading.Disclaimer: This trade idea is based on Elliott Wave analysis and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions.Informational onLY !!!!
XAUUSD: correction recovery of yellow metalThe price of gold continues to decline as the US dollar strengthens and concerns about China's largest XAU/USD customer persist. In doing so, the precious metal fails to justify its traditional safe haven status, as well as signaling an inability to rally concerns that the Federal Reserve will maintain stable interest rates in its September monetary policy meeting, supported by recent softer US data.
Gold price today: Under the pressure of USD, gold price continueThe world gold price today listed at 1,917 USD/ounce, down 10 USD/ounce compared to the early hours of the morning.
The world gold price continued to decline today as the dollar soared after China released many disappointing economic data.
Besides, the US economy is making strong recovery steps. The growth rate of 2.4% in the second quarter of 2023 exceeded expectations. Inflation has fallen to 3%. Consumer sentiment is improving.
Although USD rebounded on positive signals from the US economy, this currency in the medium and long term is in a downtrend. The Fed will soon reverse monetary policy, from tightening to easing, thereby putting pressure on the USD. A fall in the USD price will pull the gold price up.
Trading plan:
SELL XAUUSD price range: 1913 - 1915
Stoploss : 1920
Take Profit : 1910
Take Profit : 1905
Take Profit : 1900
Note : TP, SL full to be safe and win the market !