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#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.
OANDA:XAUUSDLong
by Setupsfx_
2
XAUUSD 1H BUY PROJECTION 03.10.24Reason for Bullish Several media outlets reported that Israel delivered a harsh response to the recent Iranian attack by bombing central Beirut in the early hours of Thursday. Lebanese security officials said that three missiles also struck the southern suburb of Dahiyeh, the place of Hezbollah leader Hassan Nasrallah's killing. Lebanese health officials also reported that multiple people were injured following Israel’s strike in Beirut. Iranian forces on Tuesday used hypersonic Fattah missiles for the first time and 90% of its missiles successfully hit their targets in Israel. Tehran said this attack was in response to Israeli killings of militant leaders and aggression in Lebanon against the Iran-backed armed movement Hezbollah and in Gaza. Despite the increasing risks of the Israel-Iran conflict turning into a wider regional war in the Middle East, Gold price is struggling to capitalize on the risk-off flows, as diminishing odds of a 50 basis points (bps) interest rate cut by the Fed in November keep the sentiment around the US Dollar underpinned at the expense of the non-interest-bearing Gold price.
FOREXCOM:XAUUSDLong
by kripsonfx97
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.
FX:XAUUSDLong
by Finn_Rm3x
XAUUSD SHOWING A GOOD DOWN MOVE WITH 1:10 RISK REWARDXAUUSD SHOWING A GOOD DOWN MOVE WITH 1:10 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the marketwhich 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 breakC. 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
FX:XAUUSDShort
by tradergyan01
XAUUSD 1H SELL PROJECTION 01.10.24Reason for sell Central banks hold paper currencies and gold in reserve. As central banks diversify their monetary reserves (away from the paper currencies they accumulate and into gold) the price of gold typically rises. Many of the world’s nations have reserves that are composed primarily of gold. Bloomberg reported that global central banks have been buying the most gold since the United States abandoned the gold standard in 1971, with 2019 figures dipping just modestly from 2018’s 50-year record. 4 After a downtick in central bank gold purchases in 2020, the pace picked up again in 2021 and surpassed the 50-year record again in 2022. 2023 also saw a significant growth in central bank gold reserves. 5 6 7 The top gold buyer in 2022 was the central bank of Türkiye, followed by Uzbekistan, India, and Qatar. The top gold buyers in 2023 were China, Singapore, and the Czech Republic. 7 8 9 Silver Bullion. "Top 5 Countries That Were Net Buyers of Gold in 2023."
FXOPEN:XAUUSDShort
by kripsonfx97
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."
FX:XAUUSDShort
by Finn_Rm3x
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
FX:XAUUSDLong
by tradergyan01
1
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
ICMARKETS:XAUUSDLong
by tradergyan01
11
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!
OANDA:XAUUSDLong
by Finn_Rm3x
Plan XAU 20.09.2024✔️ I think gold will move within a wide sideways range today. If you're looking to SELL, aim for the top at 2597 - 2598. ✔️ The lower points will be BUY zones. For these points, manage your capital carefully and gradually with every 1/2R, guys. ✔️ Gold's movement yesterday was quite surprising. Those who SOLD at the FOMC peak likely got stopped out, and the same for those who BOUGHT. This range is quite wide and difficult to trade, so make sure to trade with consistent and stable volume. Don’t double your position size out of frustration from a single stop-loss and let it affect your mindset! ✔️ It's Friday today, wishing you successful trading!
OANDA:XAUUSD
by Finn_Rm3x
GOLD SHOWING A GOOD UP MOVE WITH 1:10 RISK REWARDGOLD 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
ICMARKETS:XAUUSDLong
by tradergyan01
6
"Update on the upcoming before the Fed - interest rate cutsMany people have asked me about my view on how the Fed's interest rate cuts will impact the market. I have a few thoughts on this, but please note that these are just my personal opinions and should not be considered as trading recommendations! In the chart, I’m displaying two lines: - Red: Federal Funds Rate - Blue: Unemployment Rate If you look back at history, each time the Fed cuts rates, it typically coincides with economic troubles, although the signs may not be immediately apparent in the early stages. Initially, Powell’s objective was to combat inflation and achieve a soft landing, but in his most recent speeches, the focus has shifted to stabilizing the economy. This indicates a change in the Fed's assessment of the economic situation, which concerns me as it suggests that we could be heading towards a recession. History supports this perspective, as the unemployment rate is one of the clearest indicators of recession. Other accompanying metrics, such as GDP, also matter, but during this period, the CPI holds less value for assessing the economic landscape. In my opinion, it’s just a matter of when the recession will occur. We’ll need to wait for a few key indicators over the next two to three months. This article is meant for everyone to evaluate the current economic situation. The next article will update on asset classes like Gold, BTC, and stocks, and how they might perform during a recession." Let me know if you need further assistance!
TVC:DXYShort
by Finn_Rm3x
XAUUSD 1H SELL PROJECTION 18.09.24old buyers regain control, as the 14-day Relative Strength Index (RSI) remains comfortably above the 50 level, having eased off from near the overbought territory. The optimism prevails so long as they defend the one-and-a-half-month-old symmetrical triangle target now support at $2,560. That said, the immediate resistance is seen at the record high of $2,590, above which the $2,600 level will be tested. Acceptance above that level will call for a test of the $2,650 psychological barrier. If the Fed disappoints the doves, Gold price could witness a fresh sell-off, which could challenge the August 20 high of $2,532. Additional declines will threaten the 21-day Simple Moving Average (SMA) at $2,522, below which the $2,500 mark will be on sellers’ radars.
OANDA:XAUUSDShort
by kripsonfx97
1
Gold for the week 16th sep to 20th sep 2024.Gold is technically long above 2530. Wait for a fall till 2560 and if it retraces and forms a green candle in 4hr time frame then buy above the high of the Candle Sell below the low of the day candle close below 2530 Movement is based on FED's interest rate decision. My view is that FED may cut 0.50 basis point since the American economy is on the edge of falling into a recession. Disclaimer. The above views are my own and for educational purpose. You may do you own analysis before taking a position.
OANDA:XAUUSD
by ramkkyy