XAUUSD on July 18, 2024 continues to wait for the target zone?
Continue with the previous day's plan
- Looking at H1, we have black wave 5 which is an expanding wave.
- In the black wave 5, there is a yellow 5-wave structure and now we have a yellow 4 wave that may have completed.
- From the measured targets for the end of wave 5 of the plans in recent days, we will have the first target at the round number area of 2500
- Currently we wait for the price to reach the target area of 2500 to find conditions to SELL
Xauusdanalysis
GOLD SETUP TRADE WIH 1:5 RISK REWARDGOLD SETUP TRADE WIH 1:5 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 15M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
GOLD SETUP TRADE WIH 1:5 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 30 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
4. a range breaking on 30m chat
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
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XAUUSD DAILY BUY PROJECTION The allure of non-yielding bullion tends to increase when interest rates are lowered because the opportunity cost of holding gold decreases. Investor sentiment has played a significant role in the recent spike in gold prices. The current market positioning reflects a strong bullish outlook on gold.
XAUUSD July 17, 2024 Will the rising wave continue?XAUUSD July 17, 2024 Will the rising wave continue?
The information we received is that Mr. Trump's brother is officially named as the Republican candidate. The fact that Mr. Trump is a bright candidate for the United States is creating conditions for XAU to increase in price because of its policies. In the past, he advocated for reducing interest rates to focus on economic growth.
The information released from the Fed in recent days shows dovishness with announcements that curbing inflation is very effective as well as statements from Fed Chairman Powell also making dovish comments. . This also makes the expectation that interest rate cuts will happen sooner.
Looking at H1, we see that yesterday there was a strong increase, which shows that we are having wave 5 extension.
We are measuring wave 5 and currently have two important target price areas to observe: the 2481.6 area and the 2500 round resistance area.
- At this time we should limit buying because the price is at the peak of the price force. Looking at the RSI, we see that the price momentum is weakening, while the price is still increasing, this signals that the current uptrend has ended. weakening force increased insignificantly
- We have target price zones to find selling points at 2481.6 and 2500.
- We expect the price to have a slight correction and then create a new peak near the 2500 area and the RSI peak will then diverge, which will be a nice sell trade setup. We continue to observe the price in this area to find a Sell down point.
- In the immediate future, we have a target area for the downward correction wave at the price range of 2438.6. When there is more data about the dark price, this target area will be updated
XAUUSD trading plan for week 1, July 2024
Looking at D1, we see that the adjustment process has reached the end of the period
- Unlike impulse waves, corrective waves take a long time and often have complex patterns that are difficult to predict.
- Looking at the current model, I am leaning towards the complex triangle correction model with ABCDE structure in Elliot
- The beauty of Elliot is that there are price levels that confirm whether we are moving in the right direction.
- We have 2 prices that confirm our wave counting
+ If the price level 2284.37 is broken below then our current assumption is no longer correct then our previous assumption that the ABC correction model I mentioned last week will apply
+ If the price level of 2365.7 is broken, the triangle correction model we are predicting will be confirmed.
- So our plan is to wait for the price to break out of the 2365.7 price range and test again to enter a Buy order.
- If the Breakout price drops below 2284.37, then we wait to test again and enter a Sell order. If that happens, I will update.
How will XAUUSD fluctuate after Trump's case?
The failed assassination of presidential candidate Trump increasingly increased his odds of winning the election as well as helping the Republican party hold a large number of seats in the parliament. If the Republican Party prevails in the election, This will promote a reduction in USD interest rates. This is also the reason why XAU has increased in recent days.
Looking at H1:
- The purple 5-wave structure has been completed. This could be the wave 1 structure in a larger wave. and so next will be the corrective wave structure
- Like I said before, corrective waves often take a long time and move complicatedly, we need a lot of follow-up data to shape the corrective structure.
- But for simplicity we can expect a simple ABC structure to observe
- Then we temporarily have the target area for corrective wave C at 2 price areas: 2367.7 and 2349.3.
- The current plan is that we can sell at the price range of 2429 to the price range of 2440 and set the SL at the top of 2440.
XAUUSD July 9, 2024 potential buying point?
Looking at h1 yesterday, we continued to successfully predict the direction of price movement
- Currently, the price is approaching the target area of wave C. As I said yesterday, we need data from waves A and B to be completed to determine the target of wave C.
- Currently, I measure the target of wave C located at 2 price areas 2355 and 2346 price areas. These 2 price items form a narrow area where we can enter a Buy order at this price area.
- If the price breaks through 2339, our current wave counting process is no longer correct, then I will update you again.
GOLD SETUP TRADE WIH 1:5 RISK REWARDGOLD SETUP TRADE WIH 1:5 RISK REWARD
A good selling setup detected on XAUUSD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
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
GOLD SETUP TRADE WIH 1:6 RISK REWARD
A good selling setup detected on BTCUSD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amoun4. 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 amountt
Stay connected
Stay happy
Bande mataram
GOLD SETUP TRADE WIH 1:10 RISK REWARDGOLD SETUP TRADE WIH 1:10 RISK REWARD
A good BUYING setup detected on XAUUSD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
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
GOLD SETUP TRADE WIH 1:10 RISK REWARD
A good buying setup detected on gold
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
Stay happy
GOLD SETUP TRADE WIH 1:5 RISK REWARDGOLD SETUP TRADE WIH 1:5 RISK REWARD
A good BUYING setup detected on XAUUSD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
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
GOLD SETUP TRADE WIH 1:5 RISK REWARD
A good buying setup detected on gold
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
Stay happy
Bande mataram
LONGTERM GOLD BUY SETUP TRADE WIH 1:10 RISK REWARDGOLD SETUP TRADE WIH 1:10 RISK REWARD
A good selling setup detected on XAUUSD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
GOLD SETUP TRADE WIH 1:10 RISK REWARD
A good selling setup detected on GOLD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
XAUUSD July 8, 2024 Will the rising wave continue?
Nonfarm news last weekend with lower employment data than the previous period caused gold to have a strong increase in price to 2392.2, this price increase may need to continue a correction of wave 4 before completing wave 5. final increase.
Looking at H1 we see
Black wave 5 has exceeded our measured target and approached the 2392 area.
- So the next 5 waves are a correction. The corrective wave is a complex wave that is difficult to specifically identify, but we still take the ABC corrective wave as the standard for price observation.
The specific target of this corrective wave needs to be observed at least as waves A and B complete to be accurate, but from the current data I measure the target of the corrective wave ending at the price range 2363 or 2355.
These are the two price zones I expect to continue buying. We will continue to observe price behavior during the correction wave to more accurately determine the target price zones of the correction wave.
GOLD SETUP TRADE WIH 1:6 RISK REWARDGOLD SETUP TRADE WIH 1:6 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 15M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
GOLD SETUP TRADE WIH 1:6 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 30 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
4. a range breaking on 30m chat
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
GOLD SETUP TRADE WIH 1:5 RISK REWARD it will be OSM moveGOLD SETUP TRADE WIH 1:5 RISK REWARD
A good selling setup detected on XAUUSD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
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
GOLD SETUP TRADE WIH 1:6 RISK REWARD
A good selling setup detected on BTCUSD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amoun4. 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 amountt
Stay connected
Stay happy
Bande mataram
XAUUSD July 5, 2024 waiting for a reasonable buy pointYesterday was Bank Holiday, so low market liquidity led to gold prices sideways in a narrow fluctuation range.
The price targets have not changed from the previous plan, the only difference is that the price has touched the demand zone that we have identified and turned up. This suggests that wave 4 may have completed and The price will continue to increase, completing wave 5
- Today there is news about Nonfarm, if the price continues to compress within this narrow range, then after the news it is possible that the price will complete the wave 5 target and then enter a correction. If the price reaches the target of wave 5 before the news is released, then after the news is released, the price will have a downward correction.
- The target price range that I want to buy is the price range 2339 to 2342. This is the expected price adjustment range after wave 5 completes.
GOLD SETUP TRADE WIH 1:6 RISK REWARDGOLD SETUP TRADE WIH 1:6 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 15M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
GOLD SETUP TRADE WIH 1:6 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 30 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
XAUUSD July 4, 2024 will the price still decrease?
We expected a shakeout to enter the line but the price did not create this spring and completed the Flat correction pattern with wave c equal to wave a. Then the price increased sharply to the 2365 area
- The completion of wave c means that wave 2 has also completed. Now the price enters wave 3
- The target of wave 3 is at least fibo 1.618% of purple wave 1, so we have the minimum expectation at the price range of 2395
- Looking at the smaller black trend, the price has gone through 4 waves 1234 and we wait for wave 5 to complete and then the price will have a correction before continuing to increase.
- My suggested buying zone is the price range 2342 - 2340, which is the expected target of the completed major correction.
3th JULY GOLD PREDICTIONTrading Strategy for Gold
Sell Entry Point:
Entry Range: 2336 - 2340
Stop Loss (SL):
Above: 2340 (suggested precise level: 2342 to give some buffer for volatility)
Take Profit (TP) Targets:
TP1: 2330
TP2: 2325
TP3: 2320
Execution Plan
Market Analysis:
Trend: Sideways movement between 2320 - 2340.
Catalyst: Awaiting nonfarm payroll news this week.
Entry Strategy:
Sell Orders: Place sell orders within the 2336 - 2340 range.
Volume Allocation: Consider splitting your position into smaller orders to average into the range.
Stop Loss Management:
SL Placement: Set your stop loss above the 2340 level. A precise level like 2342 ensures some buffer against minor price fluctuations.
Take Profit Strategy:
TP1: Set for 2330 to secure partial profit.
TP2: Set for 2325 for further profit taking if the price continues to move down.
TP3: Final TP at 2320 to maximize profit if the price reaches the lower end of the range.
Risk Management:
Ensure your position size respects your risk management rules.
Avoid over-leveraging to manage potential volatility around the nonfarm payroll announcement.
Monitoring:
Stay updated with news and market sentiment leading up to the nonfarm payroll release.
Be prepared to adjust your strategy if there are significant market movements or news developments.
Summary
Sell at 2336-2340
Stop Loss: 2342
Take Profits: 2330 (TP1), 2325 (TP2), 2320 (TP3)