XAUUSD Gold Trading Strategy August 8, 2025XAUUSD Gold Trading Strategy August 8, 2025:
Gold prices have approached the 340x area and have fallen sharply to the 338x support area at the beginning of today's trading session.
Basic news: President Trump announced to double tariffs on Indian goods to 50% in response to continued oil imports from Russia. Reports show that Trump may meet with Russian President Vladimir Putin as early as next week.
Technical analysis: Gold prices are currently in an uptrend channel, but the trading range is showing signs of narrowing. The possibility that the price will correct at this 340x area is very high; if the gold price creates a double peak pattern in the H1 frame, the price range of 3375 - 3380 will confirm the pattern and create a strong downward force for the gold price. If gold forms a double top pattern here, this correction could take gold to the 3350 or even 3330 area.
Important price zones today: 3375 - 3380, 3405 - 3410 and 3420 - 3425.
Today's trading trend: SELL.
Recommended orders:
Plan 1: SELL XAUUSD zone 3407 - 3409
SL 3412
TP 3404 - 3394 - 3374 - 3354.
Plan 2: SELL XAUUSD zone 3423 - 3425
SL 3428
TP 3420 - 3410 - 3390 - 3370.
Plan 3: BUY XAUUSD zone 3375 - 3377
SL 3372
TP 3380 - 3390 - 3400.
Wish you a safe, successful and profitable trading weekend.🌟🌟🌟🌟🌟
GOLD.F trade ideas
Elliott Wave Analysis – XAUUSD August 8, 2025📊
🔍 Momentum
• D1 Timeframe: Daily momentum is currently turning down, limiting the potential for a long-term rally in the current bullish wave. This also suggests that the top may already have formed around the 3,409 level.
• H4 Timeframe: Momentum is still declining and needs about one more H4 candle to reverse upward. For now, the downward move is likely to continue, so caution is advised.
• H1 Timeframe: Showing early signs of a short-term bearish reversal. This decline is important and will be analyzed further after the wave structure review.
🌀 Wave Structure
The current price action suggests a potential Ending Diagonal formation. Once completed, this pattern is typically followed by a sharp and sudden drop.
So far, no sharp decline has occurred, meaning the ending diagonal may not be finished yet. The ideal completion zones for Wave 5 are around 3412 or 3419.
Ending diagonals tend to develop in a complex manner, so a safer approach is to enter trades after price breaks below the lower boundary of the diagonal.
👉 Additional Scenario: If H1 momentum reverses downward and price breaks below 3381, it is likely to drop toward 3371. This area could be considered for a Buy setup.
Conversely, if price does not break below 3381 and instead rises toward 3412, it may indicate that Wave 5 is completing at that level.
📈 Trading Plan
• SELL Zone 1: 3412 – 3414
o SL: 3417
o TP1: 3393
o TP2: 3372
• SELL Zone 2: 3419 – 3421
o SL: 3429
o TP1: 3395
o TP2: 3372
Gold Analysis and Trading Strategy | August 8✅ Fundamental Analysis
🔹 Weak U.S. Labor Data: The latest data shows initial jobless claims rising to 226,000, with continuing claims reaching 1.974 million, indicating clear signs of labor market weakness.
🔹 Rising Rate Cut Expectations: The market is now pricing in over a 91% probability that the Federal Reserve will cut interest rates in September. The U.S. Dollar Index has come under pressure, falling toward the 98.36 level, which is providing support for gold prices.
✅ Technical Analysis
🔸 The gold market has seen intense competition between bulls and bears recently. While prices have made several short-term breakouts, the broader trend remains a wide consolidation between the 3400–3370 range. The monthly chart has shown four consecutive months of intraday highs followed by pullbacks, with continuous upper wicks, reflecting significant selling pressure at higher levels. From a pattern perspective, the outlook leans toward a medium-term rally followed by a pullback. The key uncertainty is whether gold will turn lower immediately after piercing the 3400 level, or push to new all-time highs before entering a correction.
🔸 We have repeatedly emphasized the potential for gold to test the 3400 level, with particular attention on the 3405–3410 resistance zone. As of yesterday’s close, the daily chart still failed to hold above 3400, suggesting bullish momentum remains unstable. In the Asian session today, gold opened higher around 3403, showing sharp intraday volatility—first rallying to 3406, then falling to 3396, rebounding to 3409, and then quickly dropping to 3382. This price action highlights the fierce tug-of-war between buyers and sellers. The main driver behind these swings remains tariff-related news impacting market sentiment.
🔴 Resistance Levels: 3405–3410 / 3432–3439
🟢 Support Levels: 3375–3370 / 3345–3350
✅ Trading Strategy Reference:
🔻 Short Position Strategy:
🔰Consider entering short positions in batches if gold rebounds to the 3402–3408 area. Target: 3370-3360;If support breaks, the move may extend to 3350.
🔺 Long Position Strategy:
🔰Consider entering long positions in batches if gold pulls back to the 3345-3350 area. Target: 3365-3375;If resistance breaks, the move may extend to 3385.
🔥Trading Reminder: Trading strategies are time-sensitive, and market conditions can change rapidly. Please adjust your trading plan based on real-time market conditions. If you have any questions or need one-on-one guidance, feel free to contact me🤝
Smart Money Concepts 1. Introduction to Smart Money Concepts
The financial markets aren’t just a free-for-all where everyone has the same chance of winning. If you’ve ever felt like the market moves against you right after you enter a trade, it’s probably not your imagination. This is where Smart Money Concepts come in — the idea that large, professional market participants (banks, hedge funds, institutions) have both the resources and the incentive to move the market in a way that benefits them… and often at the expense of retail traders.
The goal of SMC trading is to stop following the herd and start trading in alignment with the “smart money” — the institutional order flow that truly drives price movement.
2. Who is the Smart Money?
Smart money refers to the participants with:
Large capital (able to move the market)
Market-making power (often acting as liquidity providers)
Insider knowledge (economic data in advance, order book depth)
Advanced tools (algorithms, AI, high-frequency trading systems)
Examples:
Central banks
Commercial banks
Hedge funds
Institutional asset managers
Proprietary trading firms
Market makers
Their advantages:
Access to better information (they see real liquidity and order flow)
Ability to manipulate price to hunt liquidity
Risk management expertise
Patience — they don’t rush into trades, they wait for key liquidity zones.
3. The Core Philosophy of SMC
SMC focuses less on retail-style indicators (like MACD, RSI) and more on:
Market structure
Liquidity
Order blocks
Fair Value Gaps
Breaker blocks
Institutional order flow
Stop hunts (liquidity grabs)
The key principle is:
Price moves from liquidity to liquidity, driven by institutions filling their large orders.
This means:
Market doesn’t move randomly.
Smart money often manipulates price to take out retail stops before moving in the intended direction.
Your job is to identify their footprints.
4. Understanding Market Structure in SMC
Market structure is the skeleton of price movement. In SMC, we read structure to know where we are in the trend and what smart money is doing.
4.1. Types of Structure
Bullish Market Structure
Higher Highs (HH) and Higher Lows (HL)
Smart money accumulates before pushing higher.
Bearish Market Structure
Lower Lows (LL) and Lower Highs (LH)
Smart money distributes before dropping price.
Consolidation
Sideways movement — often accumulation or distribution phases.
4.2. Market Structure Shifts (MSS)
When the trend changes:
In bullish trend: price breaks below the last HL → bearish MSS.
In bearish trend: price breaks above the last LH → bullish MSS.
MSS is often the first sign of a reversal.
5. Liquidity in SMC
Liquidity = resting orders in the market.
Institutions need liquidity to execute large trades without causing excessive slippage.
5.1. Where Liquidity Exists:
Above swing highs (buy stops)
Below swing lows (sell stops)
Round numbers (psychological levels)
Previous day/week highs & lows
Session highs/lows (London, New York)
Imbalance zones
5.2. Liquidity Hunts (Stop Hunts)
Before moving price in their intended direction, smart money will:
Push price above a recent high → triggering buy stops → fill their sell orders.
Push price below a recent low → triggering sell stops → fill their buy orders.
This shakeout removes retail traders and positions institutions in the opposite direction.
6. Order Blocks
An order block is the last bullish or bearish candle before a strong move.
Why they matter:
They represent areas where institutions placed large positions.
Price often returns to these zones to mitigate orders.
Types of Order Blocks:
Bullish Order Block
Last bearish candle before price rises aggressively.
Acts as demand zone.
Bearish Order Block
Last bullish candle before price drops aggressively.
Acts as supply zone.
Rules:
Price should break market structure after forming the order block.
Volume/impulse should confirm institutional involvement.
7. Fair Value Gaps (FVG)
Also called imbalances — when price moves too quickly, leaving inefficiency in the market.
7.1. How to Spot:
On a 3-candle pattern, if candle 1’s high is below candle 3’s low (in a bullish move), a gap exists in the middle.
7.2. Why Important:
Institutions tend to return to fill these gaps before continuing the move.
FVG acts as a magnet for price.
8. Accumulation & Distribution
This is where smart money quietly builds or unloads positions.
8.1. Accumulation
Occurs in ranges after downtrends.
Characterized by liquidity grabs below support.
Goal: institutions buy without alerting retail traders.
8.2. Distribution
Occurs in ranges after uptrends.
Characterized by liquidity grabs above resistance.
Goal: institutions sell to retail buyers before dropping price.
9. The SMC Trading Process
Let’s break down a step-by-step approach:
Identify Bias
Use higher timeframe market structure to determine bullish/bearish bias.
Mark Liquidity Zones
Previous highs/lows, order blocks, FVGs.
Wait for Liquidity Grab
Smart money often sweeps liquidity before the real move.
Look for Market Structure Shift
A break of structure confirms the reversal or continuation.
Find Entry at Key Level
Often inside order block or FVG after MSS.
Set Stop Loss
Below/above liquidity sweep.
Target Opposite Liquidity Pool
Price moves from one liquidity area to another.
10. Example Trade
Scenario:
EURUSD is in bullish higher timeframe trend.
On 1H chart: price sweeps previous day’s low (grabbing sell-side liquidity).
MSS occurs → break above minor high.
Price returns to bullish order block.
Entry placed, SL below OB, TP at previous high (buy-side liquidity).
XAU/USDThis XAU/USD trade setup is a buy trade, reflecting a bullish outlook on gold prices. The entry price is 3388, with a stop-loss at 3380 and a target exit price at 3454. The trade aims to capture a 13-point gain while limiting the risk to 6 points, offering a solid risk-to-reward ratio of over 1:2.
Buying at 3388 suggests that the trader expects gold to rise, potentially driven by a weaker US dollar, lower bond yields, or increased global economic uncertainty, which boosts demand for gold as a safe-haven asset. The exit price at 3406 is likely set just below a resistance level where the trader anticipates price action may slow or reverse.
The stop-loss at 3380 is placed closely below the entry to protect against sudden downside moves. Given the tight stop, the trade requires good timing—ideally after bullish confirmation or during strong upward momentum.
This setup is ideal for short-term intraday trading, combining limited risk with decent reward potential. Sticking to the plan with disciplined execution and proper risk management increases the chances of a successful outcome in this XAU/USD trade.
XAUUSD – Gold stays hot, bullish trend still intactGold continues to be in the spotlight as a combination of macroeconomic factors and technical structure supports further upside momentum.
Market Overview:
- Analysts have revised gold price forecasts upward to the $3,500–$3,600/oz range, driven by a weaker USD and concerns over slowing US growth.
- Labour market data from the US is showing weakness, with rising jobless claims – increasing expectations that the Fed may cut rates in September.
- Geopolitical tensions and global trade uncertainties are boosting gold's appeal as a safe haven asset.
- Strong investor interest: Trading volumes in gold futures have risen significantly, indicating heavy participation from big money.
Technical Analysis:
- Price is clearly moving within an ascending channel, reflecting a stable medium-term uptrend.
- Gold is currently testing the short-term resistance around $3,408 , with potential for a minor correction toward support near $3,350 , which aligns with the lower boundary of the channel.
- As long as price remains inside the ascending channel, the bullish bias remains valid.
Trading Strategy
Look for long entries near the $3,350 support zone on a pullback.
Short-term target: $3,408 – Mid-term target: $3,500+
Stop-loss: Below $3,320
In summary , gold is receiving strong support from both fundamentals and technicals. Buying the dips remains the preferred strategy in the current setup.
XAU/USDThis XAU/USD trade setup is a buy trade, reflecting a bullish outlook on gold prices. The entry price is 3393, with a stop-loss at 3387 and a target exit price at 3406. The trade aims to capture a 13-point gain while limiting the risk to 6 points, offering a solid risk-to-reward ratio of over 1:2.
Buying at 3393 suggests that the trader expects gold to rise, potentially driven by a weaker US dollar, lower bond yields, or increased global economic uncertainty, which boosts demand for gold as a safe-haven asset. The exit price at 3406 is likely set just below a resistance level where the trader anticipates price action may slow or reverse.
The stop-loss at 3387 is placed closely below the entry to protect against sudden downside moves. Given the tight stop, the trade requires good timing—ideally after bullish confirmation or during strong upward momentum.
This setup is ideal for short-term intraday trading, combining limited risk with decent reward potential. Sticking to the plan with disciplined execution and proper risk management increases the chances of a successful outcome in this XAU/USD trade.
Gold Trading Strategy for 08th August 2025📊 Gold (XAU/USD) Trading Plan – 1-Hour Timeframe
Instrument: Spot Gold (XAU/USD)
Analysis Basis: 1-hour candlestick chart
Method: Breakout trading strategy based on candle close above/below key levels
🟢 Buy Setup – Bullish Breakout Strategy
Conditions to Enter:
Wait for a full 1-hour candle to close above $3,410.
The candle body should be clearly above the level (not just a wick), confirming strong buying pressure.
Entry should be placed above the high of that breakout candle to avoid false signals.
Entry Price: Above breakout candle high if it closes above $3,410
Profit Targets:
Target 1: $3,419 (Initial resistance level, short-term scalp target)
Target 2: $3,429 (Intermediate resistance zone)
Target 3: $3,439 (Major resistance level for the session)
Stop Loss Placement:
Conservative traders: Place stop loss just below $3,410 breakout level.
Aggressive traders: Place stop loss below the breakout candle’s low.
Trade Management Tips:
Move stop loss to breakeven once Target 1 is hit.
Scale out partial positions at each target to lock in profits.
🔴 Sell Setup – Bearish Breakdown Strategy
Conditions to Enter:
Wait for a full 1-hour candle to close below $3,365.
Ensure the candle body is clearly under the level, indicating strong selling momentum.
Entry should be placed below the low of that breakdown candle to confirm continuation.
Entry Price: Below breakdown candle low if it closes below $3,365
Profit Targets:
Target 1: $3,352 (First support level)
Target 2: $3,341 (Intermediate support zone)
Target 3: $3,329 (Major support level for the session)
Stop Loss Placement:
Conservative traders: Place stop loss just above $3,365 breakdown level.
Aggressive traders: Place stop loss above the breakdown candle’s high.
Trade Management Tips:
Move stop loss to breakeven once Target 1 is hit.
Scale out partial positions as targets are achieved to protect gains.
⚠️ Risk Management Notes
Never risk more than 1–2% of your total capital on a single trade.
Avoid trading during major economic news events unless you are specifically trading the news.
Monitor spreads, as gold spreads can widen significantly during volatility.
Use trailing stops if price moves strongly in your favor to maximize profits.
📌 Example Trade Scenarios
Bullish Scenario:
1-hour candle closes at $3,412 with a high of $3,414 and a low of $3,407.
Place buy stop at $3,415, stop loss at $3,406, first target $3,419.
Bearish Scenario:
1-hour candle closes at $3,363 with a high of $3,368 and a low of $3,360.
Place sell stop at $3,359, stop loss at $3,369, first target $3,352.
⚠️ Disclaimer
This trading plan is for educational purposes only. It is not financial advice or a recommendation to buy or sell any asset. Trading gold (XAU/USD) or any leveraged financial instrument carries a high level of risk and may not be suitable for all investors.
Prices can be volatile, and past performance does not guarantee future results. Always conduct your own analysis, and if necessary, seek advice from a licensed financial professional. Only trade with funds you can afford to lose.
XAUUSD : Is the Dream Run Finally coming to a halt(Temporarily!)Here is the 4H time frame of Gold in USD (XAUUSD). The red trendline marks an important RBS(Resistance Becomes Support) where gold recently took support at 3293.5 on 9th June.
Now, if on a closing basis (4H) it manages to give a decisive close below the green trendline marked in the chart, we are looking at a steady medium term decline towards the levels marked from T1 to T4.
The biggest trigger for this move to begin and sustain would be easing of global uncertain sentiments like war and tariffs showing some signs of cooling off.
If we are lucky we and get to T4, we are looking at roughly a 16% decline from current market prices which would be a GREAT entry point for some long term positional longs in this yellow beast!
Trade Type: Gold Sell (Short Position)📌 Entry: Sell Below 3380
🛑 Stop Loss: 3440
🎯 Targets:
• 3200
• 3000
• 2800
• 2600
📈 Risk-Reward: Up to 13:1
📍 Positional Setup
🚨 Trail SL after each target hit
📆 Suitable for Swing/Positional Traders
🧠 Always use proper risk management. Trade at your own discretion.
#Gold #XAUINR #GoldShort #SwingTrade #PositionalTrade #CommodityTrading #TradingSetup #RiskReward #PriceAction #ShortSetup #SellGold #MCXGold #TechnicalAnalysis
XAU/USDThis XAU/USD trade setup is a sell trade, reflecting a bearish view on gold. The entry price is 3374, with a stop-loss at 3379 and an exit price at 3363. The trade aims for an 11-point profit while risking 5 points, offering a favorable risk-to-reward ratio of more than 1:2.
Selling at 3374 indicates the trader expects gold prices to fall, likely due to a strong US dollar, rising interest rates, or reduced safe-haven demand. The exit target of 3363 is set at a possible support level, where the trader anticipates a price bounce or temporary reversal.
The stop-loss at 3379 is placed tightly above the entry to minimize losses if the market moves upward unexpectedly. Because the stop-loss is close, the trade requires precise execution, ideally during periods of strong downward momentum or after a confirmed price rejection from resistance.
This setup is structured for short-term trading with controlled risk and a clear profit target. Maintaining discipline and following the plan without emotional adjustments is key to long-term trading success in XAU/USD.
Retail vs Institutional Trading Introduction
The stock market serves as a vast arena where two primary participants operate — retail traders and institutional traders. Both these groups play crucial roles in the financial ecosystem but differ drastically in terms of capital, strategies, access to information, and influence on the market.
Understanding the dynamics between retail and institutional trading is vital for any market participant — whether you're an investor, trader, analyst, or policymaker. This in-depth analysis unpacks the core differences, strategies, advantages, disadvantages, and market impact of both retail and institutional traders.
1. Definition and Key Characteristics
Retail Traders
Retail traders are individual investors who trade in their personal capacity, usually through online brokerage accounts. They use their own capital and typically trade in smaller volumes.
Key characteristics of retail traders:
Trade small positions (1–1000 shares)
Use online brokerages like Zerodha, Robinhood, or E*TRADE
Rely on public news, retail-focused tools, and charts
Often influenced by social media and sentiment
Usually part-time or hobbyist traders
Institutional Traders
Institutional traders trade on behalf of large organizations, such as:
Mutual funds
Hedge funds
Pension funds
Insurance companies
Sovereign wealth funds
Banks and proprietary trading firms
Key characteristics:
Trade large blocks (10,000+ shares)
Access to sophisticated tools, real-time data, and dark pools
Employ quantitative models and professional teams
Long-term investment strategies or high-frequency trading
Can move markets with a single trade
2. Access to Information & Tools
Retail Access
Retail traders are usually last in line when it comes to access:
Get news after it's public
Use delayed or less granular market data
Basic tools (e.g., TradingView, MetaTrader, ThinkOrSwim)
May rely on YouTube, Twitter, Reddit (e.g., r/WallStreetBets)
Institutional Access
Institutions enjoy early and exclusive access:
Bloomberg Terminal, Reuters Eikon, proprietary feeds
Real-time Level II and III market data
Insider connections (e.g., earnings calls, conferences)
AI-powered data analytics and algorithmic models
Conclusion: Institutional traders operate with a significant information edge.
3. Capital and Buying Power
Retail Traders
Typically operate with limited capital — from ₹10,000 to ₹10 lakhs (or more)
Use margin cautiously due to high risks and interest costs
Constrained by capital preservation and risk tolerance
Institutional Traders
Manage hundreds of crores to billions in assets
Use prime brokerages for margin, shorting, and leverage
Can influence market pricing and supply-demand dynamics
Conclusion: Institutions have a massive capital advantage, enabling economies of scale.
4. Market Impact
Retail Traders’ Impact
Minimal direct impact on prices individually
Collectively can drive momentum trades or short squeezes (e.g., GameStop, Adani stocks)
More reactionary than proactive
Institutional Traders’ Impact
Can shift entire sectors or indices with a single reallocation
Often deploy block trades, iceberg orders, and dark pools to mask intent
Central to price discovery and volume
Conclusion: Institutional flow is the dominant force in price action, while retail adds volatility and liquidity.
5. Trading Strategies
Retail Traders' Strategies
Retail traders typically rely on:
Technical Analysis: Candlesticks, RSI, MACD, chart patterns
Swing Trading / Intraday
News-based or Sentiment-based Trading
Options trading with small lots
Copy trading or Telegram tips (not recommended)
Behavioral tendencies:
Fear of missing out (FOMO)
Overtrading
Chasing breakouts or rumors
Institutional Strategies
Institutions use more structured approaches:
Fundamental Analysis: DCF, macro trends, earnings forecasts
Quantitative Trading: Algorithms, statistical arbitrage
Hedging & Risk Modeling
Portfolio Diversification & Rebalancing
High-Frequency Trading (HFT)
Behavioral tendencies:
Discipline over emotion
Regulatory compliance
Portfolio-level thinking, not trade-by-trade
Conclusion: Retail strategies are shorter-term and emotional, while institutional strategies are data-driven and systematic.
6. Cost of Trading
Retail Traders
Pay higher brokerage fees (especially in traditional full-service brokers)
Have wider bid-ask spreads
Face slippage during volatile moves
No access to negotiated commissions
Institutional Traders
Enjoy preferential fee structures
Access lower spreads via direct market access (DMA)
Use smart order routing to reduce costs
May participate in dark pools to hide trade intent
Conclusion: Institutions enjoy cheaper and more efficient execution.
7. Emotional vs Rational Decision-Making
Retail Traders
Highly influenced by emotions: greed, fear, hope
Overreact to headlines and rumors
Lack discipline and trade management
Often trade without stop-loss
Institutional Traders
Decision-making is systematic and risk-managed
Operate with clear mandates, risk teams, and drawdown controls
Use quantitative models to remove human error
Conclusion: Institutions are generally rational and rule-based, while retail is often impulsive.
8. Regulations and Restrictions
Retail Traders
Face basic regulations (e.g., KYC, margin limits)
No oversight in strategy or risk exposure
Limited access to instruments (e.g., no direct access to foreign derivatives or institutional debt)
Institutional Traders
Heavily regulated by bodies like SEBI, RBI, SEC, etc.
Must follow:
Disclosure norms
Risk-based capital adequacy
Audit and compliance checks
Subject to insider trading laws, fiduciary responsibilities
Conclusion: Retail is freer but riskier, institutional is compliant but structured.
9. Education and Skill Levels
Retail Traders
Largely self-taught
Learn via:
YouTube, Udemy, Twitter
Paid telegram groups, mentors
Often lack deep financial literacy
Institutional Traders
Often have backgrounds in:
Finance, Economics, Math, Computer Science
MBAs, CFAs, PhDs
Supported by quant teams, analysts, economists
Conclusion: Institutional traders have stronger academic and experiential grounding.
10. Time Horizon and Holding Period
Retail Traders
Mostly short-term focused: scalping, intraday, swing
Rarely think in portfolio terms
Less concerned with long-term CAGR
Institutional Traders
Long-term focused (mutual funds, pension funds)
Hedge funds may have medium-term or tactical outlook
Often look at multi-year trends, sector rotation, macro cycles
Conclusion: Retail thinks in days or weeks, institutions think in years.
Conclusion
The divide between retail and institutional traders is significant but narrowing. While institutions dominate in terms of capital, technology, and influence, retail traders now have unprecedented access to tools and knowledge.
For success in modern markets:
Retail traders must focus on discipline, risk, and learning
Institutional players must remain agile and avoid herd behavior
Both groups are vital to the health and vibrancy of the financial markets. Understanding the strengths and limitations of each helps investors better navigate today’s complex market landscape.
Elliott Wave Analysis – XAUUSD | August 7, 2025📊
________________________________________
🔍 Momentum Analysis:
• D1 Timeframe: Daily momentum is turning bearish, signaling that a medium-term downtrend may have already started and could last until mid-next week.
• H4 Timeframe: Momentum is rising, but the slope of the two momentum lines is relatively flat → indicating weak bullish strength. We should closely watch the overhead resistance zones.
• H1 Timeframe: Momentum has entered the overbought zone → a short-term reversal is likely, especially near the 3386 level.
________________________________________
🌀 Elliott Wave Structure:
• Based on the bearish momentum shift on the D1 chart, we expect the market is entering an ABC corrective pattern (in green).
• Currently:
o Wave A is completed.
o Wave B is in progress.
• Since Wave A appears to be a 3-wave structure, Wave B may unfold as a flat correction. In that case, potential target zones for Wave B are:
o 3385
o or 3395 → these are the key resistance levels to monitor.
• Within Wave B (green), we observe an internal 3-wave ABC structure (in red), where:
o Wave C (red) may reach:
3386
or extend toward 3395
→ In alignment with the D1 momentum signal, 3386 is considered a potential entry point for a short position.
________________________________________
📈 Trade Plan:
• SELL Zone: 3386 – 3389
• Stop Loss: 3397
• Take Profits:
o TP1: 3370
o TP2: 3353
o TP3: 3333
Gold Explodes: Will the Uptrend Continue?News Background:
Recent weak U.S. job data has fueled expectations that the Fed will cut interest rates in September, weakening the USD and bond yields, making gold more attractive. Additionally, trade tensions between the U.S. and India have increased uncertainty, driving capital flows into gold.
Technical Chart:
Resistance: 3,450 USD is a key resistance level. If broken, the price could continue to rise towards 3,500 USD.
Support: 3,360 USD is the nearest support level. A drop below this could lead to a pullback to 3,320 USD.
RSI: Currently at 64.11, close to overbought territory, but not yet too high, suggesting the uptrend could still continue.
Outlook:
Bullish scenario: If 3,450 USD is broken, the price could reach 3,500 USD.
Bearish scenario: If 3,360 USD cannot hold, a pullback to 3,320 USD is possible.