After the adjustment is completed, the recovery process begins.Market analysis for XAUUSD trading on November 18, 2024:
Last week's trading session saw a significant correction in gold prices. However, by the end of last week, selling pressure weakened and buying interest re-emerged. It is highly likely that gold prices will begin to recover this week.
Today's trading trend: BUY.
Key price levels to watch:
BUY zone: 2535 - 3540, 2551 - 2556, and 2525 - 2530.
SELL zone: 2595 - 2600 and 2615 - 2620.
Recommended orders:
Plan 1: BUY XAUUSD zone 2556 - 2558
SL 2653
TP 2561 - 2670 - 2580 - 2600.
Plan 2: BUY XAUUSD zone 2539 - 2541
SL 2536
TP 2544 - 2550 - 2560 - 2580 - 2600.
Plan 3: SELL XAUUSD zone 2595 - 2597
SL 2600
TP 2592 - 2580 - 2570 - 2560.
Xauusdlong
Gold trading and investment strategy XAUUSDGold Trading Strategy: Accumulate Buying Above 2,638 with Stop at 2,602
Current Price: 2,622.00 USD
Key Levels:
Buy Signal: If the price closes above 2,638 on the one-hour candle, it indicates a potential upward trend, suggesting a good time to consider accumulating buying.
Stop Loss: Place a stop loss at 2,602 to manage risk.
Long-Term View Negation: The long-term bullish view will be negated if the price closes below 2,600.
Market Analysis:
The current price is hovering around 2,622.00 USD, just below the buy signal level.
The market is showing signs of bullish momentum, but it's important to monitor the price closely, especially around the 2,600 to 2,650 levels, which could act as support or resistance.
Recommendations:
Accumulate Buying: If the price sustains above 2,638 on the one-hour candle close, consider entering long positions with targets at 2,950 and 3,000 USD per ounce by February.
Stop Loss: Place a stop loss at 2,602 to manage risk.
Long-Term View: Be aware that the long-term bullish view will be negated if the price closes below 2,600.
Intraday Trading:
Buy: For intraday trading, consider buying above 2,625.
Sell: For intraday trading, consider selling below 2,616.
Disclaimer: This is only for educational purposes. You may do your own analysis before taking any trading decisions.
#XAUUSDContinue to increase or maintain the adjustment momentum.Market analysis for XAUUSD trading on November 8, 2024:
The trading session on Thursday rebounded strongly after a previous drop of 100 points. However, the possibility of gold prices still adjusting downward remains as Mr. Donald Trump is elected and implements new policies. The USD may rise significantly, putting pressure on gold prices to decrease.
Today's trading trend: BUY scalp (hold SELL).
Key price levels to watch:
SELL zone: 2718 - 2725 and 2743 - 2748.
BUY zone: 2676 - 2681, 2664 - 2669, and 2632 - 2637.
Recommended orders:
Plan 1: SELL XAUUSD zone 2723 - 2725
SL 2728
TP 2720 - 2710 - 2700 - 2680 - 2640
Plan 2: SELL XAUUSD zone 2743 - 2745
SL 2748
TP 2740 - 2730 - 2700 - 2640.
Plan 3: BUY XAUUSD zone 2635 - 2637
SL 2632
TP 2640 - 2650 - 2660 - 2670.
XAUUSD 1H SELL PROJECTION 24.1024Reason for Bearish
1. Breaked Major Support 2720 yesterday and now retesting tthe breaked Zone
2. Rsi 14 below 50 and tends to be selling confirmation
3. Stochastic Overbiught in abobe 80 and 1h Bearish Movement
Over all Projection
XAUUSD SELL 2720-23
SL 2730
TP 1 2715
TP 2 2710
TP 3 2701
XAUUSD WEEKLY BUY PROJECTION 19.10.24Reason for Bullish
Gold hit a record high last month. Goldman Sachs analysts think it's not done rising.
1
The firm in a Monday note said it has a price target of $2,700 per ounce on the precious metal. That's actually a bit less bullish than before, since the bank is now targeting early next year instead of later in 2024 — but that's still an 8% premium over the $2,525 high on Aug. 27.
2
CNBC. “Gold / US Dollar Spot.”
Gold futures ticked higher Wednesday to around $2,524 an ounce.
#XAUUSD:Will Further Escalation In Middle East Support The BullsGold was retested on Friday after USD data came out in support of the USD. The DXY rose back strongly, leading many USD pairs to melt heavily. Furthermore, the gold price dropped to the 2633 region and then retested a few more times before ranging between 2633 and 2658. Now, since the last three daily candles closed with strong wick rejections, we believe the price is likely to continue going up, up until 2730.
Fundamentals and technical analysis support our view since the ongoing conflict in the Middle East is likely to worsen in the coming days. That will likely raise concerns among investors worldwide.
If you like the idea, please like and comment. Let's discuss the idea in the comment box.Gold was reassessed on Friday following the release of USD data that favored the USD. The DXY experienced a significant increase, causing several USD pairs to decline sharply. Furthermore, the gold price fell to the 2633 region and underwent multiple retests before fluctuating between 2633 and 2658. Given that the last three daily candles closed with notable wick rejections, we anticipate a continued upward trend in the price, potentially reaching 2730.
Our perspective is supported by both fundamental and technical analyses. The ongoing conflict in the Middle East is expected to escalate in the coming days, potentially generating increased investor apprehension worldwide.
If you find this analysis valuable, please indicate your approval by liking and commenting. We encourage a constructive discussion of this concept in the comment section.
Update XAU : 03.10.2024After corrected Plan BUY XAU 2626 ( Last week )
An Overview of the Gold Plan on the H1 Chart
✍️ After gold reached the 2626 level, it experienced a strong recovery. Based on the current chart, gold has officially reversed the short-term correction and is continuing its upward trend.
✍️ From my perspective, yesterday, the second corrective wave was completed, and gold is now in the process of building the third impulsive wave.
✍️ To properly complete the third wave in this phase, gold will likely try to form a full Wyckoff re-accumulation range, meaning it might consolidate (sideways) for the rest of today to prepare for tomorrow’s NFP (Non-Farm Payrolls) report. Of course, there may be shakeouts when the news is released, so caution is advised.
✍️ Regarding volume, we observe that when the price rises, there's volume alignment, whereas during price declines, volume steadily decreases. There are only occasional spikes in volume, but they don't significantly impact the market's upward momentum.
👉 As for the detailed NFP trading plan, I'll update that tomorrow. For today's plan, I'm focusing on the BUY trend at 2649.5.
XAUUSD ENTRY TARGET SL Mention in the chart.
ALWAYS TAKE TRADE WITH CONFIRMATION
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
XAUUSD 1H BUY PROJECTION 01.10.24Reason for gold bullish
However, geopolitical tensions, inflation concerns, and market uncertainty are among the major triggers that have helped yellow metal maintain an uptrend in 2024. They said that gold prices are expected to remain bullish and touch $2,640 and $2,660 per troy ounce soon.
XAUUSD SHOWING A GOOD BULLISH MOVE WITH 1:10 RISK REWARD XAUUSD SHOWING A GOOD BULLISH MOVE WITH 1:10 RISK REWARD
DUE TO THESE REASON
A. its following a rectangle pattern that stocked the market
which preventing the market to move any one direction now it trying to break the strong resistant lable
B. after the break of this rectangle it will boost the market potential for break
C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region
all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward
please dont use more than one percentage of your capitalfollow risk reward and tradeing rules
that will help you to to become a bettertrader
thank you
Plan GOLD Short Term "I’m updating the gold plan.
I expect a short-term distribution phase, adjusted as in the chart. Currently, we are just at the UT phase (Phase B). We need to wait for gold to form a full range, which might complete by this Friday or the first half of next week.
In the smaller range (red zone), I’m also expecting a distribution phase to form (currently in Phase B, just beginning).
There might be UTAD moves (whether they happen or not). If not, we can get a SELL point around 81, 82. But if UTAD forms, it will likely hover around 92, 94.
For today’s trading, just trade within the red range (buy at the lower boundary, sell at the upper boundary).
The long-term trend is still up, I’m only expecting a short-term correction, not aiming for a SWING trade.
The desired zones to watch for opportunities: 2624 - 2560."
GOLD SHOWING A GOOD UP MOVE WITH 1:10 RISK REWARD GOLD SHOWING A GOOD UP MOVE WITH 1:10 RISK REWARD
DUE TO THESE REASON
A. its following a rectangle pattern that stocked the market
which preventing the market to move any one direction now it trying to break the strong resistant lable
B. after the break of this rectangle it will boost the market potential for break
C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region
all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward
please dont use more than one percentage of your capitalfollow risk reward and tradeing rules
that will help you to to become a bettertrader
thank you
GOLD SHOWING A GOOD UP MOVE WITH 1:5 RISK REWARD GOLD SHOWING A GOOD UP MOVE WITH 1:5 RISK REWARD
DUE TO THESE REASON
A. its following a rectangle pattern that stocked the market
which preventing the market to move any one direction now it trying to break the strong resistant lable
B. after the break of this rectangle it will boost the market potential for break
C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region
all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward
please dont use more than one percentage of your capitalfollow risk reward and tradeing rules
that will help you to to become a bettertrader
thank you
Plan trading XAU 23.09.20214➡️ Technical Analysis:
Over a long period of time, Gold has formed a reaccumulation structure, and based on cyclical timing, Gold has broken upwards, creating a SOS (Sign of Strength). I've discussed the cyclical nature of Gold in live sessions multiple times.
On the H4 chart, we can see that it has created a SOS, and currently, we have a Backup/LPS zone around 2523 - 2530 that hasn't been retested yet. It might not happen in the coming week, but Gold will soon return to retest this level.
On a smaller timeframe, like M15, Gold is also forming a reaccumulation range.
There is synchronization across timeframes, so I prioritize a BUY strategy with a full target for this week at 2644.
A key area to focus on is the Swap Point, which I’ve noted at 2600.
Pay attention as the price moves higher and breaks the ATH (All-Time High); there will be increasing selling pressure. If there are sharp drops with large volumes, avoid jumping in immediately. Wait for stable signals before entering trades!
Update PLAN XAU After FOMCAs I have updated everyone on the Gold Plan through previous trading plans (check in the trading idea section). Currently, gold has reached the 2544 - 2548 zone and is showing a reaction, but I feel it is not very strong.
The FED's 0.5% interest rate cut could have a short-term impact.
At the moment, gold is forming a short-term distribution range, and for now, I will look for sell entries toward the BUY Swing zone - as shown in the chart!