Gold Trend Monday analysis Gold touch the price around 2477 after USA NON FARM PAYROLL figures disapoint the insitution invester and i think unemployment rate ticked up from 4.1 to 4.3.
Bullion rallied sharply capitalizing on the fall of the USA 10 year treasuary bond yield which taked up 15 basis point to 3.815%
i thinked that you make the shot position on the price around 2455 and make SL 2477 and target TP 1 2445.00 TP 2 2435.00 TP 3 2400.00
Use small lot on the chart take small risk on your equity.
Xauusdanalysis
XAUUSD 5/8/2024 correction is over?
Looking at H1 we see the ABC correction wave structure.
Looking at the ABC correction model, we see that we are likely to have an unusual correction model, when wave C does not exceed wave A.
- So now we need to observe to confirm whether the correction wave has ended
- The confirmation condition is that if this downtrend closes above the 2413 zone, then we have the price entering the uptrend wave and then the target price zone is the 2500 zone.
Currently we have a trading plan
SELL ZONE 2456 - 2459
SL 2466
TP1: 2447
TP2: 2442
TP3: 2433
BUY ZONE: 2426 - 2423
SL: 2416
TP1: 2433
TP2: 2442
TP3: 2455
XAUUSD 1/8/2024 after FOMC news?
Looking at H1, we see that after this morning's FOMC news, we see that XAU has increased to the 2458 zone
- As I analyzed in the previous plan, when the price breaks through the 2402 zone and then tests again and does not fall below this zone, the price will continue the 5-wave trend instead of the 3-wave ABC.
- Regarding the trend, after the price follows the 5-wave model, the next wave target is the 2500 price zone as analyzed before.
- Looking at the present, we see that wave 3 in the blue 5-wave structure is completing, and the price has now started blue wave 4
- Measuring the wave 4 target, we have the price zone of 2433. This will be the price zone we are waiting for as a BUY target
- The target of wave 5 will be specifically determined by me after wave 4 is formed. With the current data, I am expecting wave 5 to end at the price zone of 2500
Trading plan
BUYZONE: 2433 - 2430
SL: 2423
TP1: 2422
TP2: 2450
TP3: 2465
SELL ZONE: 2467 - 2470
SL: 2477
TP1: 2450
TP2: 2422
TP3: 2433
Will GOLD take Support & Return to Bullish Trend ?Symbol - XAUUSD
Gold is entering the correction phase after a breakout failure scenario of ascending channel resistance and the previous ATH. The fundamental background is changed by Thursday's news that supported the dollar index.
Overall, the structure & environment on is still bullish. If the price finds a strong support in the near future, for example 2390-2400, this area may get the status of an intermediate bottom, thus forming a new trading range.
There is no news today, thus the fundamental background remains the same. Trading has been complicated lately by the presidential race in the USA. The statements of Powell, politically dependent Fed, Trump can be perceived by traders quite strongly. But the medium-term outlook is determined by the fact that politicians are generally set to lower the dollar (DXY), which is generally favorable for gold, which may soon return to the bullish trend phase.
The price may continue the correction to trend support, but due to the pool of liquidity in the area where the price may land within the correction, gold may get a reaction in the form of a bounce to the nearest resistance, make a double bottom & may test channel resistance in future.
Today trend gold is bullishI think gold will move up side and USA data come negative and i think gold entry around 2392.00 TP 1 2408.00 TP 2 2402.00 TP 3 2408.00 Stop loss around 2387.00 market some volatile then news come so please make your sl is where then data will release. Time remaing around us data 2 hour 15 minutes left so please be care full today in news data .
XAUUSD 7/30/2024 How far will the price go?
After the 5-wave downtrend structure, we are witnessing an increase from 2354 to 2402
- So we will have 2 cases either the 5-wave downtrend structure has completed wave C then we have the current increase as a 5-wave structure, case 2 is the 5-wave downtrend structure above has just completed wave 1 in the 5-wave structure of wave C so the current increase is wave 2 and will have an ABC wave structure.
- We will have an important price to confirm that is the price of 2402, both cases need the price to break out through 2402. After the price breaks out through 2402 and the price returns below 2402, then we will lean towards the current situation being just a correction wave 2 in the 5-wave structure of the purple wave C. If the price breaks out through 2418, we will lean towards the possibility that this is a 5-wave increase structure and the possibility that the price will break through the peak of 2433.
So at the 2418 area, this is the current area containing a large amount of supply, which will be a strong resistance level for the price, so when the price touches this area, there will be a reaction, and we will choose this area as the SELL target
Trading plan
SELL ZONE: 2415 -2418
SL: 2425
TP1: 2402
TP2: 2390 TP3: 2374 BUY ZONE: 2357 - 2354 SL: 2347 TP1: 2365 TP2: 2374 TP3: 2382
XAUUSD 1H Sell Projection Customs duty cuts: The Indian government announced cuts to customs duty on gold in the Union Budget 2024, reducing it from 15% to 6%.
Concerns over demand in China: Demand for gold in China may also have contributed to the price drop.
Better-than-expected US data: Better-than-expected US Q2 GDP and jobless claims data may have also put downward pressure on gold prices.
XAUUSD 7/29/2024 Is the uptrend over?
Looking at H1, we can see that the corrective uptrend may have ended.
- The price will continue to move in a downtrend to complete the purple wave C as shown on the chart.
During the move to the target price zone of wave C, we see that at the 2374 treble line, this is the previous breakout price zone and has not been retested, so there is still a very strong demand force in this price zone.
- We expect the price to bounce back to the 2374 zone, so we will place a BUY order in this zone.
Trading plan
BUY ZONE: 2376 - 2373
SL: 2366
TP1: 2382
TP2: 2400
TP3: 2410
SELL ZONE: 2314 - 2417
SL: 2424
TP1: 2401
TP: 2382
TP3: 2365
XAUUSD 7/26/2024 Is there a pullback?
Looking at H1, we see that the price breaking the 2382.5 zone has confirmed that the price is in the purple wave C
- From the peak of 2433 to the bottom of 2353, we see a small 5-wave structure has been completed and now we see that the bullish recovery wave is continuing, we expect a corrective wave
- The target of the rebound wave I measured at the price zone of 2402 and the price zone of 2411
- So this increase we expect is a rebound wave before the bearish wave continues to the target zone of the purple wave C
- The target of the purple wave C we measured at the zone of 2334 and the zone of 2307
Trading plan
BUY ZONE: 2366 - 2363
SL: 2356
TP1: 2382
TP2: 2394
TP3: 2402
SELL ZONE: 2310 - 2312
SL: 2320 TP1: 2400 TP2: 2390 TP3: 2382
XAUUSD : 07/25/24 first short and than long99% SUCCESSFUL TRADE.
FIRST TRADE:
SELL XAUUSD - profit upto $8USD
SECOND TRADE:
BUY at the bottom where you booked the profit and hold the position for the entire bullish price action.
Do your own analysis before taking a trade.
NOTE:
PRICES HAVE BEEN MARKED FOR YOUR REFERENCE. THIS IS WHAT I ANALYSE. PLEASE DO YOUR OWN ANALYSIS BEFORE TAKING A TRADE.
XAUUSD 4H Sell Limit Projection 25.07.24The direct impact of Finance Minister Nirmala Sitharaman's surprise cut of customs duty on gold, silver and other precious gems and jewellery has been on the streets. Prices have crashed by around Rs 4,000 in the few hours since the budget proposal was made in parliament.2 days ago
XAUUSD July 24, 2024 Where will the rally go?
As in the previous day's forecast, after the 5-wave trend is the ABC correction wave
- Looking at H1 we can label wave a and wave b as shown on the chart. Currently, we expect wave C to complete so we can enter orders
- Wave C target we measure 2 targets: price range 2420 and price range 2433.
- After completing the next abc correction, it will be a 5-wave pattern following the previous downtrend
Trading plan
SELL ZONE: 2431 - 2435
SL: 2440
TP1: 2411
TP2: 2394
TP3: 2382
BUY ZONE: 2476 - 2471
SL: 2466
TP1: 2382
TP2: 2394
XAUUSD 1H W Pattern Formation 24.07.24The W pattern is made up of several key components. The first bottom usually forms after a prolonged price decline, indicating the lowest point of the current downtrend. The price then rises, forming the middle peak, before declining again to form the second bottom.
GOLD BUYING SETUP TRADE WIH 1:10 RISK REWARD GOLD BUYING SETUP TRADE WIH 1:10 RISK REWARD
A good BUYING setup detected on XAUUSD
it a very good setup
It's showing a BULL MOVE due to these reason
1. It's following THE 30 M trendline here
2. It's ready to break the support zone
3. VERY GOOD SETUP
Just grab out will your own risk MAXIMUM 1%
4. also in day chat its showing its trying to break the 1d big trendline
it will consolidate here but after breakout the upcoming move will be OSM
With a small amount
Stay connected
Stay happy
Bande mataram
XAUUSD July 23, 2024 Where will the rising wave go?
Looking at the H1 chart, we have a completed 5-wave bearish pattern
- The target of wave 5 has been achieved near the price range of 2382 that I predicted yesterday
- After completing the next wave 5, there will be 2 cases, the first case is that the price continues the 5-wave impulse wave pattern. The second case is the abc bullish correction pattern.
- Regardless of the pattern, we now expect a price increase at least according to the abc correction pattern
- The target of ending the correction wave will be specifically determined when the wave has completed at least 2 waves a and b. Based on current price data, I estimate the target of the correction wave is the price range 2433.
- If this rally gets past 2453 then we will be leaning towards a trend rally to 2500 then I will update everyone.
Trading plan
BUY: 2491 - 2488
SL 2483
TP1: 2420
TP2: 2433
SELL ZONE: 2433 - 2436
SL: 2431
TP1: 2411
TP2: 2494
2400 Make or Break?Gold is playing around 2400 and market is neither trending nor sideways.
By US Session if market breaks yesterday's low of 2384, we can look for 40-50 pips sell.
As market bounced from 2384 yesterday, so the support of 2378 is little unclear now.
if market surprises us with heavy sell, we can continue with the sell.
We can look for a sell around 2420
High risky scalpers can look for sell below 2394 and sell around 2411-12 for 20/30 pips
What factors are holding back the increase in gold prices?
Gold prices (XAU/USD) attracted buyers in early trading on Monday, ending a three-day decline from last week's record high. Dovish expectations from the Federal Reserve (Fed) and President Joe Biden's withdrawal from the presidential race have caused some investors to cancel bets on a Trump victory. This reduces the strength of the US dollar and supports gold prices.
In addition, concerns about slowing economic growth in China, geopolitical risks from the prolonged Russia-Ukraine war and conflict in the Middle East also contributed to raising gold prices. These factors continue to drive demand for gold as a safe-haven asset.
However, XAU/USD is yet to see a strong buying move as traders await US Personal Consumption Price Index (PCE) data on Friday. This data will provide clues about Fed policy, which will determine the near-term trajectory for gold prices.
Note price range:
Buy zone: 2392 - 2390
Stop loss: 2386
Take profit 1: 2400
Take profit 2: 2410
Buy zone: 2430- 2432
Stop loss: 2436
Take profit 1: 2420
Take profit 2: 2410
XAUUSD July 22, 2024 Is the decline over?
The information that President Biden withdrew from running due to his health further confirmed Trump's high chance of winning the election. This information immediately caused XAU to gap up on Monday morning
Looking at H1 we see a sharp sharp decline, this is the ongoing wave 3.
- At the price range of 2394, we have a strong rebound. From this rebound we expect that wave 3 has ended and this rebound is wave 4.
- The target of wave 4 I measured at the price range 2420 or price range 2428
- After completing wave 4, the price continues to decrease to complete the 5-wave pattern
- With the current price data, I can temporarily measure the expected target of wave 5, the last down wave of this downtrend, at the price range of 2382 or the price range of 2366.
- After the end of this price reduction, we expect a strong recovery and I will update the specifics of this recovery after the price completes this 5-wave decline.
- Our trading strategy is to observe price reactions at support and resistance zones to enter orders