Xauusd Trading setup for 13-11-24 #Goldsetup #thezenmasterforexPlay between 2612 and 2598,
Sell 1 -2612
Sell 2 - 2617
Buy 1- 2598
Buy 2 - 2590
Before NY, News today
Use SL
Cheers!!
CFDGOLD trade ideas
Pressure From The Dollar – Can XAUUSD Hold Support?XAUUSD is experiencing a sharp decline, reaching new lows around the 2600 level, pressured by the strong rebound of the USD. The U.S. Dollar Index has surged to a four-month high, making gold more expensive for investors holding other currencies.
In terms of trend, any attempt to push gold prices up may be limited, as the dollar is benefiting from market conditions while expectations for a Fed rate cut are fading. This adds further pressure on gold, making it difficult to sustain upward momentum.
This week, investors will closely watch the October CPI data, PPI, weekly jobless claims, retail sales, and key speeches from Fed officials, including Chair Jerome Powell, to gain more insight into the Fed's future rate path.
On the technical side, gold is currently trying to break the major support level at 2555. However, a short-term pullback to test resistance levels is possible before the decline resumes. Overall, both technical and fundamental factors are favoring the sellers.
Share your views and questions! Let’s discuss the current intriguing moves in the gold market!
Long gold at the current levelGold has been in an uptrend on the daily timeframe however, due to the sharp rally in the dollar index over the last two weeks we have seen some pull back in the yellow metal. On the two hour timeframe gold is right now at a good support level and is also having the momentum oscillators oversold . There is a good chance that we see the assumption of the uptrend from this level
XAUUSD | GOLD | 13th Nov | Bullish Reversal#Gold Setup: We will take a Long Position @2606 and collect profit at 2609, 2612, 2622 and risking 1-2%
Tips: Keep Trailing your SL after the first TP to lock your profit.
Multiple Confluence Confirmed: UpTrend
XAU USD ANALYSIS Hello and Good Morning Traders,
Gold is now in the no trading zone gold doesn't break the lower low and start rising from 2595/2592. If gold breaks 2627 and close above it then we will start taking buy side position.
Let's see what happens next.
I'll share update with you guys. 🙏
Gold : Still week but looking for a pullbackGold price tested 2600 in yesterday trading session and still looking weak. For Intra day price is forming tringle formation on H1 and breakout from this formation in either side can give us good move on that side , personally I think a pullback is due at this point and we can expect a test around 2635-40 area for Intra day.
If gold going to follow this view then at 35-40 we will wait for confirmation of sell or higher levels .
Gold Trading Strategy for 13th November 2024Gold Trading Strategy: Buy Above 2,605 / Sell Below 2,589
Current Price: 2,599.00 USD
Key Levels:
Buy Signal: If the price closes above 2,605 on the one-hour candle, it indicates a potential upward trend, suggesting a good time to consider buying.
Sell Signal: If the price closes below 2,589 on the one-hour candle, it suggests a potential downward trend, indicating it might be a good time to consider selling.
Market Analysis:
The current price is hovering around 2,599.00 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 2,590 to 2,605 levels, which could act as support or resistance.
Recommendations:
Buy: If the price sustains above 2,605 on the one-hour candle close, consider entering long positions. Book profit at regular intervals or use a trailing stop loss to protect your profit, with targets at 2,625 and 2,640.
Sell: If the price breaks below 2,589 on the one-hour candle close, consider short positions. Book profit at regular intervals or use a trailing stop loss to protect your profit, with targets at 2,575 and 2,560.
Disclaimer: This is only for educational purposes. You may do your own analysis before taking any trading decisions.
Gold View, XAU/USD 13th NOVGold - Gold has a changed it's structure now .
It's will should a pullback to it's Supply zone marked on this image.
Expecting it to continue it's down move now from the POI.
This Is My Personal Analysis, It's not a Tip.
XAU USD ANALYSIS Hello Traders,
For now gold are not able to close above 2625-2630 level. Still I am bearish in gold.
I am Done for the Day Traders.
Good Night 📉
XAU/USD ANALYSIS Hello Traders,
Gold just tapped 15 Minute order Flow after taking out the inducement and start falling. It indicates that there are no institutional buyers at this level. We are still in the downtrend. Waiting for fresh level Traders.
Gold - Bookish example for Morning/Evening StarA typical example of Morning Star and Evening Star in the same chart. Its a good time to consolidate Gold
Evening Star
Evening star patterns are associated with the top of a price uptrend, signifying that the uptrend is nearing its end
The first day consists of a large white candle signifying a continued rise in prices.
The second day consists of a smaller candle that shows a more modest increase in price.
The third day shows a large red candle that opens at a price below the previous day and then closes near the middle of the first day
Morning Star
The Morning Star pattern is a classic bullish reversal pattern in technical analysis. The pattern consists of three candlesticks: two large ones with different directions and a smaller candlestick between them.
XAU/USD ANALYSIS Hello Traders,
Gold Tapped into 1D Order Block at 2595-2590
Now price started rising from this level.
If any 1 HR Candle close above 2625-2630 then this will be the change of character for gold if gold can't sustain above it then we can see sharp downtrend in gold
Gold Falls to USD strengthening vows ! Also BTC a reason .Gold falls to major trendline on strong USD, asset reallocation, risk-on.
Key points:-
Gold falls to key support from a major trendline for the long-term uptrend at $2,600.
A strong US Dollar is reducing the price of Gold, whilst competition from Bitcoin and stocks is also bearish.
Expectations for the Federal Reserve slowing the pace of interest rate cuts and reduced safe-haven demand could also weigh on Gold’s price.
Technical Analysis:
XAU/USD falls to support at major trendline
Gold falls to support from a major trendline for its long-term uptrend situated at around the $2,600 mark. The precious metal has broken below the 50-day Simple Moving Average (SMA) at $2,648 and is now in a short-term downtrend. Given it is a principle of technical analysis that “the trend is your friend,” the odds favor a continuation lower.
Gold price falls as competition from Bitcoin and Stocks bites
Gold is also falling due to competition from alternative assets such as Bitcoin (BTC), which keeps pushing to new all-time highs in the $80,000s because of expectations of laxer crypto regulation under the Trump administration.
US stocks are rising as investors anticipate lower corporation tax and looser regulations boosting company profits.
XAUUSD is taking support from it BU-OB on hourly TFXAUUSD is taking support from its hourly TF buying order block(2594-2604) once it breaks its structure at the level of 2606.44 i'll enter into a long position keeping my stop loss below the order block at the level of 2590 and once it closes above 2635.57 it will change its character to bullish and i'm targeting the levels of 2675, 2749 and 2790
TRAPS IN DOWNTREND"In a downtrending market, price movement often creates imbalances at various levels. When approaching a major demand zone, price frequently traps immediate buyers and sellers, creating false signals. It then proceeds to fill these imbalances at minor levels, trapping sellers along the way, before reaching significant areas where true momentum is initiated. This is often followed by a rapid decline from these major areas.
Understanding higher time-frame candle closings is essential for interpreting these scenarios accurately. This is just one example, as sometimes price may react solely at minor imbalance zones, never reaching major areas, or there may be no imbalances at all. To effectively assess any market condition, observing the candle closings on a higher time frame is crucial.
Follow for more in-depth educational insights."
GOLD ANALYSIS 12TH NOV 2024📉 Gold Market Outlook 📉
In recent moves, gold broke major support zones, trapping buyers at key demand levels. Currently, we’re seeing another major low broken on the 4-hour time frame, suggesting a potential shift towards a downtrend.
Strategic Approach:
Wait for Buyer Traps: With significant upside imbalances, we anticipate gold to lure in buyers at demand zones before retracing to fill these imbalances. This would present an ideal setup for shorting opportunities.
Potential Longs: For those looking to capture short-term momentum, watch for liquidity sweeps that trap buyers. Once minor highs break, consider long entries but keep risk in check—since the overall market remains bearish, prioritize taking profits quickly.
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