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GOLD trade ideas

Gold Trend 04/11 - S-T peakedDriven mainly by the US election and economic figures last week, the gold price pulled back from the newly formed record high. With the US election approaching, the gold market opened strong early last week. A better-than-expected US consumer confidence on Tue. led to a breakthrough of the previous high at 2758 (1), triggering a new round of S-T buying until it reached 2790 and the US 3Q GDP and ADP employment on Wed. However, the upward momentum reversed on Thursday after the core PCE inflation data, setting off a round of short-selling and profit-taking pushing gold prices back below the 2750-2758 resistance zone(3). Friday's US employment data fell significantly below expectations, but the gold price still failed to close above 2758(3), the week ended at 2735. Gold prices retreated from 2790 with significant profit-taking action reflected in the number of COMEX gold open interest on Oct. 31st. The profit-taking activities should persist early this week ahead of two major events (the US election and the Federal Reserve interest rate meeting). Unless there is a strong market reaction with a Trump victory or additional aggressive rate cuts from the US Fed. sparking a new round of S-T buying, it is unlikely that gold prices will reach over 2790 this week. 1-hr chart (above) > Gold price broke the support line (2) last week, indicating a slowdown of the upward momentum. The selling pressure was relatively strong above 2758(3) as the price failed to clear the resistance zone(3) after the extremely weak US employment figures last Friday. Before the result of the US election and the US Fed., the S-T trading range is now set at 2710-2750 (4). Daily Chart (above) > The Gold price was rejected by the upper resistance of the uptrend channel (5) last week, followed by a single-day drop of over $40 last Thursday, an S-T reversal signal has appeared on the daily chart. Investors are waiting for the news to impact the market from the US election and the US Fed. meeting, the S-T trend should remain bearish for now. The first target on the daily chart is at 2715 (6) and the 20-day moving average (7). If you like our ideas, please give us a 🚀 ! P.To
TVC:GOLD
by 1uptick
Daily analysis for gold 4/11/2024OANDA:XAUUSD Good day! With the U.S. election tomorrow, gold’s likely to be pretty volatile. Right now, selling pressure seems strong, with limited upside for buyers. If you’re solid on risk management, consider shorting around the Current market price 2741 Or 2743-47 range, keeping a stop loss above 2752 Targeting 2720. Be cautious though – uncertainty can cause some big wicks. Only look to buy above 2760. Trade safe! Sell:- Current price 2740 or 2743-47 Target 2720 Sl above 2752 Buy:- Only if gold breaks 2760. Valid only for today !!
PEPPERSTONE:XAUUSDShort
by sparkrlight
2
#XAUUSD/H4 Gold cools down, risks and opportunities.Market analysis for XAUUSD gold trading on November 4, 2024: At the end of last week's trading session, the gold price closed at 2735. This confirms the price adjustment trend of gold. It is likely that this adjustment will not be as deep as the previous one. Today's trading trend: SELL. Key price levels to pay attention to: SELL zone: 2750 - 2755, 2765 - 2770, and 2780 - 2785. BUY zone: 2725 - 2730, 2715 - 2720, and 2702 - 2707. Recommended orders: Plan 1: SELL XAUUSD zone 2755 - 2757 SL 2760 TP 2752 - 2745 - 2730 - 2720. Plan 2: SELL XAUUSD zone 2765 - 2767 SL 2770 TP 2762 - 2755 - 2740 - 2720. Plan 3: BUY XAUUSD zone 2717 - 2719 SL 2714 TP 2722 - 2730 - 2740 - 2750.
TVC:GOLD
by ifjugapt
Gold (XAU/USD) – Strong Support at 2735Overview: Gold (XAU/USD) is currently facing a critical support zone at 2735. Recently, price action has repeatedly tested this level, only to be rejected, highlighting the strength of this support. The inability of gold to break below this level creates a potential opportunity for a buying strategy, particularly if confirmed by price patterns. Market Structure Analysis Key Support Level at 2735: The 2735 level has proven to be a substantial technical support zone, with price retesting it multiple times without a clear breakdown. This suggests strong buying interest at this level, making it an attractive zone to consider buy positions if favorable price action appears. Market Momentum: Given the global economic uncertainties and weakened growth expectations from major economies, gold continues to hold its position as a safe-haven asset. Therefore, the 2735 support level holds significance not only technically but also psychologically, as it represents a key point of interest for market participants. Short-Term Trend: In the recent price action, gold seems to be oscillating around the 2735 level, indicating potential accumulation before a decisive breakout. This scenario makes a buying strategy around the support zone practical if confirmed by reversal candlestick patterns or technical indicators. Suggested Trading Strategy Entry Point: Wait for a reversal candlestick pattern (such as a Pin Bar or Bullish Engulfing) or a clear technical signal around the 2735 zone. Waiting for pattern confirmation helps manage risks effectively. Stop Loss: Place a stop loss just below the 2735 level, ideally 20-30 pips below this support, to protect capital in case of a breakdown. Take Profit: Potential resistance levels for profit-taking include 2760 and 2785, as these zones might attract selling pressure if gold sees a strong bounce from the support level. Additional Analysis: Fundamental Factors to Watch In addition to technical analysis, fundamental factors are crucial for trading gold. Key factors include: Monetary Policy: Interest rate decisions from major central banks, especially the Fed, significantly impact gold prices. Lower interest rates generally favor gold. Geopolitical Tensions: Rising geopolitical tensions often drive demand for gold as a safe-haven asset, which could support a rebound from the 2735 zone. Economic Data: Monitoring key economic indicators, such as inflation and GDP growth, can provide insights into investor sentiment toward gold. Conclusion With the strong support zone at 2735 providing a solid foundation, a buy strategy with confirmation signals could yield favorable returns. However, traders should remain cautious of a potential breakdown below support and adhere to disciplined risk management. This analysis aims to provide a comprehensive view to help traders make informed decisions and capitalize on gold’s trend in the near term. Wishing everyone success in trading, and I deeply appreciate the valuable feedback from the community! OANDA:XAUUSD FOREXCOM:XAUUSD FXOPEN:XAUUSD
FOREXCOM:XAUUSDLong
by Trading_Zone_3773
Gold for the week starting 4th nov 2024Trading Strategy: Buy Above 2,745 / Sell Below 2,731 Current Price: 2,742.00 USD Key Levels: Buy Signal: If the price closes above 2,745 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 2,731 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 2,742.00 USD, just below the buy signal level. The market is showing signs of bullish momentum, but it's important to monitor the price closely. Recommendations: Buy: If the price sustains above 2,745 on the one-hour candle close, consider entering long positions with targets at 2,780 and 2,800. Sell: If the price breaks below 2,731 on the one-hour candle close, consider short positions with targets at 2,700 and 2,680. Disclaimer: This is only for educational purposes. You may do your own analysis before taking any trading decisions.
OANDA:XAUUSD
by ramkkyy
Gold back in range Gold price is now again entered in range area and we have to wait for breakout this range area for next move, The uncertainty around the US presidential election and Middle East tensions might boost the safe-haven demand, supporting the gold price. On volume profile we can see that the current price is trading under High Volume area, in Lower side if price breakdown Friday low then we can expect test at weekly S1 or at psychological support at 2700, In higher side the resistance is at weekly pivot (2750) and Friday High (2761) is main hurdle for bulls. To conclude this we have following trade opportunities for Intraday : Currently we have to wait as price is in range: and after range breakout: For buy either wait for breakout on Friday High or wait for lower Levels near 2700-10 area. For sell: Wait for breakdown the Friday Low
OANDA:XAUUSD
by TheGoldenCircle
Gold (XAU/USD) intraday trading at current levels 11/4/2024Support and Resistance Levels: Support Levels: First Support (S1): $2,750 Second Support (S2): $2,740 Resistance Levels: First Resistance (R1): $2,770 Second Resistance (R2): $2,780 Trading Recommendations: Buy Entry: Entry Point: Near $2,750 (S1) Target: $2,770 (R1) Stop-Loss: Below $2,740 (S2) Sell Entry: Entry Point: Near $2,770 (R1) Target: $2,750 (S1) Stop-Loss: Above $2,780 (R2) These levels are derived from recent market data and technical analysis. It's essential to monitor Gold's price movements closely, as commodity markets can be highly volatile. Adjust your trading strategy accordingly and consider using additional indicators to confirm entry and exit points.
OANDA:XAUUSD
by GAVIXH
GOLD IDEA FOR 4TH NOV "Recently, gold broke below an order block, attracting sellers—only to trap them by pushing higher. Currently, gold is within a key order block and has dipped to grab liquidity from recent lows. There’s potential for it to move lower, trapping demand buyers, before luring in more sellers by appearing to break the demand zone, and then possibly reversing upward to fill major imbalances. "If this turns into a genuine breakdown, we could see strong momentum similar to the recent 400-pip move. Reversals in the market are notoriously tricky—they often act as traps for traders. That’s why caution is key: watch for confirmation and don’t rush in without clear signals. This is why it’s essential to wait for a retracement and observe whether lows and highs are being broken before taking a position. Always prioritize confirmation. If you found this analysis useful, please like, follow, and comment for more insights!"
OANDA:XAUUSD
by priceactiongold1
4
GOLD TP DONE 1ST NOV 2024Trade Recap: We observed price retrace to the 0.5 Fibonacci level, aligning with a minor order block on the 5-minute time frame. A strong bearish engulfing candle formed on both the 5-minute and 15-minute charts, signaling potential downside. The next candle in the 5-minute chart showed solid rejection, further confirming the entry. With a setup yielding a 1:4 risk-to-reward (RR) ratio, we closed the trade early before reaching the take-profit level due to the impending close of the gold market. Hope you enjoyed this analysis! If you found this helpful, please like, comment, and follow for more trade setups, insights, and detailed market breakdowns. Happy trading!
OANDA:XAUUSDShort
by priceactiongold1
Profit booking done, Gold again in buying zone\With start of new day of new month, XAUUSD is again in buying zone. The profit booking of the month is done completely. The buyer on XAUUSD are again on zoom to extend the gains as there are more valid reason for gold to rise highter than settling lower. Today, the gold price continues to trend upward, driven by several key factors. First, heightened geopolitical tensions and economic uncertainties are strengthening gold’s appeal as a safe-haven asset. Central banks worldwide, particularly in Asia and Europe, are also increasing gold reserves as they diversify away from the U.S. dollar amid "de-dollarization" trends. This demand from institutions and governments is a notable driver of the current rally. Additionally, expectations around U.S. Federal Reserve policies contribute to the gold surge. Investors widely anticipate potential interest rate cuts in 2024, as the Fed shifts its stance in response to easing inflation and potential economic slowdowns. A lower interest rate environment generally supports higher gold prices, as it decreases the opportunity cost of holding gold compared to yield-bearing assets.
FX_IDC:XAUUSDLong
by XAUUSDANALYST
#XAUUSDDeep adjustment rhythm, awaiting the upcoming opportunityMarket outlook for Gold trading during the European-American session on November 1, 2024: Yesterday saw a profit-taking adjustment that was anticipated. This adjustment will be quite strong, and we should wait for a good entry point to implement our upcoming hold strategy. Today's trading trend: SELL. Key price levels to pay attention to: SELL zone: 2760-2765 and 2770-2775. BUY zone: 2725-2730, 2710-2715, and 2680-2685. Recommended orders: Plan 1: SELL XAUUSD zone 2660 - 2662 SL 2665 TP 2657 - 2650 - 2640 - 2630 -open Plan 2: SELL XAUUSD zone 2773 - 2775 SL 2778 TP 2770 - 2760 - 2750 - 2740 - open. Plan 3: BUY XAUUSD zone 2711 - 2713 SL 2708 TP 2716 - 2720 - 2725 - 2730.
TVC:GOLD
by ifjugapt
GOLD ANALYSIS 1ST NOV 2024Gold Market Analysis Gold recently took a 400-500 pip plunge, which we captured yesterday. Currently, price has tapped into a 4-hour order block and is forming higher highs, though the bullish momentum remains relatively weak. On the 5-minute timeframe, there's a minor order block in focus. If price breaks above this level and retraces, it’s likely to reach a major order block overhead. This move could potentially trigger a strong bullish push, as there are limited levels above, only some imbalances and fair value gaps (FVG) to consider. However, if this bullish setup turns out to be a trap, we may see price tap or briefly break the order block to attract more buyers, only to reverse and resume the bearish trend with increased momentum. Trade Strategy To reduce risk, always wait for market structure confirmations on the 15-minute or 1-hour timeframe. Let the setup develop, and don’t jump in prematurely. If you found this breakdown helpful, please like, follow, and leave a comment for more insights on trade logic.
OANDA:XAUUSD
by priceactiongold1
Gold flirts with sellers in a bullish channel ahead of US NFPGold is stabilizing after its largest daily decline in 15 weeks, as traders await Friday's US Nonfarm Payrolls (NFP) report. In doing so, the precious metal bounces back above the 50-SMA but struggles to reclaim its previous upward trend, signaled by a three-week-old rising wedge. Still, it remains within a bullish channel established since early August. Bulls need conviction to retake control Even with gold's recent bounce and its position within a multi-day bullish channel, Thursday’s confirmation of a rising wedge bearish chart formation, combined with bearish MACD signals and a lack of oversold RSI, raises concerns for buyers. Key technical levels to watch Gold buyers focus on the rising wedge's bottom near $2,762 to regain control. If they succeed, the next targets will be the wedge's top at around $2,796 and the bullish channel’s upper line at about $2,810. A firm move above $2,810 could lead to the bullion’s gradual rise toward $2,900 and potentially $3,000. On the other hand, Gold sellers are looking at Thursday’s low of $2,731, with the previous weekly low of around $2,708 in their sights. Key levels for bears include the bullish channel bottom and the 200-SMA near $2,687 and $2,670, respectively. If gold drops below $2,670, it may be set for a decline toward the rising wedge target of $2,570. Bulls in control, but sellers seek opportunities The recent bearish chart pattern offers sellers a chance for short-term gains, especially if the US employment report impacts gold prices. However, buyers are expected to maintain their hold on the market.
OANDA:XAUUSD
by MTradingGlobal