Xauusdanalysis
Xauusd Analysis Gold is technically bullish due to use only its fell down...
Analysis 1
M pattern in 4H and 75% Traget only done...so that (a)2019-2022(if here retracement 1980 is the trg)or (b)2030-2034.5(if here is the retracement huge fall will be happen)...bcz below 1960 has major support...
(a)Sell stop @2009 USE SMALL LOT
Trg 2000/1990/1980
Buy stop 2023 (no sl) Double the lot
(b..AFTER RETRACEMENT)sell stop 2028 USE SMALL LOT
Trg 2023.5/2019.5/2015.5/2005.5/2000/1995/1981/1976.6/1970.5/1965
Below 1960 means gold will be huge fall
Buy stop 2044 (no sl) double the lot
Analysis 2
In 4H even though M pattern there is a HL(Higher Low) formation at 1999.7... also 15M seem a Dragon fly doji so bounce back to bullish if it’s break and sustain 2019-2022 rally continues to next supply zone 2031-2036 once touch there close some layer set in Sl to entry(BE)
Buy @ 2015 to 2017 USE SMALL LOT
Trg 2019/2022/2030/2034/2038/2043/2046/2051/2055/2060/2070/2080
Sell stop 2010to2009(use idea 1...a)Double the lot
Has Gold (XAUUUSD) Topped out? Gold Price May FallOn Friday, 5 May 2023, Gold price got rejected from the All-time high levels of 2050-2070.
The drop resulted in formation of a DAILY BEARISH ENGULFING CANDLESTICK PATTERN as well as an EVENING STAR CANDLESTICK PATTERN at the ATH resistance levels, which shows sellers are active at this level.
Checking out previous price action, the GOLD Price is trading in a rising channel making HIGHER HIGHS & HIGHER LOWS which signifies the uptrend.
However, checking the RSI indicator which shows the momentum in the uptrend, RSI is making LOWER HIGHS. This results in BEARISH DIVERGENCE!
A Bearish Divergence is a sign of loss of strength in uptrend which means bulls are getting weak and may signal profit booking & trend reversal.
But this does not means to get Bearish on GOLD as of now. We need further confirmations for that.
If Daily candle closes below the rising channel as well as 1968, price may drop till 1940.
Area between 1915-1940 is the must hold level for BULLS. If price closes below 1915 we can then expect beginning of downtrend in GOLD
BUT, since price is still in uptrend and we must follow the trend untill it ends. If daily closes above 1970, price may continue to go high.
CONCLUSION
1. Price is still in uptrend.
2. If daily closes below 1968, price may drop till 1940
3. Area between 1915-1940 is a must hold levels for bullis. If price closes below 1915, a new downtrend may begin.
Let me know in the comments section if you want me to analyse any other financial instrument.
WARNING:-
ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
Gold Latest Analysis before Fed decision ,PMI and ISM (Short) ?Be cautious of trade today as it could be highly volatile environment due to different news today .
Gold is forming bullish penant , if broken could lead gold to 2028 -30 levels before a correction.
Happy trading , look for stop loss hunts due to great volume today.
XAUUSD: Next week!Greetings traders, I have valuable information to share with you ♥
Historically, January and August have been the most profitable months for gold, but in the past 25 years, March has consistently been the least profitable. The recent increase in gold prices can be attributed to a decrease in USD and yields after a significant shift in Fed rates. However, the future of gold prices will be largely influenced by the trajectory of US rates. If the Fed increases rates aggressively and discusses rates reaching 6%, gold prices will likely decrease even further. This could be further intensified by the typical decrease in gold prices during the seasonally weak month of March.
March is seasonally weak for Gold
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