GOLD trade ideas
Gold analysis: 2645 may usher in a V-shaped super reversalGold analysis: 2645 may usher in a V-shaped super reversal
As shown in the figure:
From Thursday to Friday, we experienced a big market of long and short double kills, from the sharp drop of 2656-2613 to today's V-shaped reversal, focusing on testing the pressure of the 2640-2645 range.
Four-hour cycle: 2620-2660 is still the main shock range at present
Shock center: 2645 (line segment A: still the most effective pressure line at present)
After the adjustment of Thursday and Asian market trends: Gold currently stands at 2640, and oscillates narrowly in the 2640-2645 range.
Shock space: Today, there is a high probability of a large V-shaped anti-structure around 2645, and it is bullish on 2660+
Still focus on: the pressure performance near 2645
Strategy:
-------------------------
Buy ideas:
Bottom support: 2635-2640
Break pressure: 2645-2650
Upward target: 2660-2680
-----------------------------------------
Short ideas:
Top pressure: 2645-2650
Break support: 2640-2635
Downward target: 2630-2620-2615-2600
Today's gold ideas: As mentioned yesterday, gold will usher in greater fluctuations. The trend on Thursday and Friday is obviously a situation of both long and short kills.
Everyone is waiting for today's big non-agricultural data to come out, so gold needs a big cleanup
Current market analysis:
1: After a week of continuous fluctuations, many people have made money in the fluctuation range
2: If it rises directly on Thursday, it will be difficult to have new buying momentum. There are too many funds deposited around the 2640-2645 range. At this time, a thorough cleanup is needed to rush higher in the future
3: In fact, most of the Fed's data in the past week are bullish
4: The decline is very rapid, and the long liquidation action is completed quickly
5: After clearing the longs, the price comes to a low level, continue to buy the bottom, and get better chips
6: The next gold price will only be higher
Target: 2650-2660-2680-2700
To sum up the above: Today's gold strategy adopts a low-long approach, completes the purchase in the 2630-2640 range and holds firmly, with a target of 2660.
Xauusd SMC Levels for 06-12-24 #Goldsetup #thezenmasterforexPlay between 2613 and 2649,
Sell level 1 - 2643
Sell level 2 - 2649
Buy level 1 - 2634
Buy level 2 - 2629
Buy level 3 - 2625
Stay clear of NFP
Use SL
Cheers!!
XAU/USD Time M15Gold has broken out of the price channel and is falling sharply, waiting for a price pullback and looking for a sell signal
XAU/USD H4 time frame ShortCurrently, gold's h4 time has a downtrend channel, we will follow this time to sell.
Gold Weakens Further as Market Awaits Fresh CatalystsGood morning, traders! In the early hours of Friday's trading session, gold continues to weaken, losing over 12 pips.
This decline reflects a temporary pause from bullish investors as they seek new drivers for upward momentum. From a technical perspective, the chart shows that while long-term bullish momentum remains intact, the current pullback appears to be nearing its conclusion. Support is forming around the $2,566 zone, followed by $2,630.
In the short term, gold may experience further declines as the market awaits directional clarity from news expected later in the day. On the other hand, the long-term bullish trend remains a favored bet, with key upside targets marked clearly on the chart.
Happy trading, and may your trades be profitable! Don’t forget to leave a like and share your thoughts about the outlook for this precious metal. Cheers!
Gold resuming the decline As discussed in last week posts and weekly analysis video also, price is resuming the decline cycle and seems like breaking down the rising wedge pattern, On Friday gold price tested the fib 50% level and now moving down , 2650-65 is the main resistance zone now and under this we can look for sell opportunities , today we have extreme narrow CPR which can add a very good one sided move, as I am holding sell trade from last week I am expecting a test near 2600 area first where I am planning to book profit partially from some positions because under 2600 we have weekly S1(2596) where we can expect a short bounce (but I do not want to buy as of now) and I want to hold rest of the sell entries towards 2530.
If bears managed to close the day under 2600 then this can add another confirmation for more decline.
Gold is in Range : Sell is still favourable Gold price is consolidating within the 2,620-2,650 range for the last five trading days, we have seen multiple attempts by gold on 2650 Level but failed to sustain above this level. Today also gold trading in a narrow range of 2634-2644,remaining near yesterday's closing price, On the hourly chart we can see that price is forming a tringle structure and breakout from this structure in any side can generate good move, as we are in correction so Probably, the main scenario is a continuation of the downward movement to 2620 and if breakdown from there then we can see price under 2600 soon.
XAU/USD at Crossroads: Breakout or Pullback?XAU/USD Multi-Timeframe Analysis
- 15-Minute Chart (Intraday Perspective):
- The 15-minute chart highlights a series of Breaks of Structure (BOS) and Change of Character (CHoCH), signaling dynamic shifts in short-term momentum.
- The latest CHoCH at the top suggests a potential exhaustion in the upward move, with sellers gaining temporary control.
- Key Levels:
- Support: $2,645
- Resistance: $2,656
- Conclusion: Expect consolidation or a slight pullback before any continuation of the trend. Watch for a confirmed BOS or CHoCH for clearer direction.
- 1-Hour Chart (Mid-Term Analysis):
- The 1-hour timeframe shows a downtrend structure transitioning into consolidation, as BOS patterns indicate bearish dominance, but CHoCH signals hint at potential reversals.
- The price is currently consolidating within a range of $2,630 to $2,656, with no clear breakout yet.
- Key Levels:
- Immediate resistance: $2,656
- Support: $2,630
- Conclusion: A breakout above $2,656 would confirm bullish strength toward $2,670, while a breakdown below $2,630 may lead to a retest of $2,615 or lower.
- 4-Hour Chart (Macro Perspective):
- On the higher timeframe, XAU/USD displays macro bearish momentum, with BOS to the downside being dominant. However, the recent CHoCH highlights a potential shift into a bullish correction.
- The price remains capped by the $2,656 resistance zone, with significant support around $2,630.
- Key Levels:
- Support: $2,615
- Resistance: $2,670
- Conclusion: The market is at a decision point. A sustained move above $2,670 could trigger bullish continuation toward $2,700, while a failure may lead to further bearish retracement.
- Overall Outlook
- Gold is trading within a consolidation phase, with structural shifts (BOS and CHoCH) indicating indecision between buyers and sellers.
- Trade Plan:
- For bullish scenarios, wait for a confirmed breakout above $2,656-$2,670 for a potential target of $2,700.
- For bearish scenarios, look for rejection at resistance zones and breakdowns below $2,630 for short opportunities toward $2,615 or lower.
XAUUSD GOLD Analysis on(05/12/2024)#XAUUSD UPDATEDE
Current price - 2652
If price stay below 2670,then next target 2638,2625 and above that 2686
plan; If price break 2652-2655 area, and stay below 2650,we will place sell order in gold with target of 2638 and 2625 & stop loss be placed at 2670
Gold Trading Strategy for 06th December 2024Trading Strategy for Gold:
Sell Strategy:
Entry Point: Sell below 2623.
Targets: First target at 2605, second target at 2586.
Buy Strategy:
Entry Point: Buy above 2641.
Targets: First target at 2657, second target at 2699.
Disclaimer:
Trading in financial markets involves substantial risk of loss and is not suitable for every investor. The strategies and opinions expressed are those of the author. Users should perform their own research and consult with a financial advisor before making trading decisions. Past performance is not indicative of future results.
Trade wisely and stay informed! 📈💡
Prices in uptrend.. check Positive deltaas we can see prices in consolidation but the slope of the prices and positive deltas are in increasing slope and negative deltas are in higher price positions that means sellers are yet not active and buyers are in power and controlling the markets and taking markets higher than lower days.
(Thursday) Gold analysis: 2645-2650 is oscillating(Thursday) Gold analysis: 2645-2650 is oscillating
As shown in the figure:
Four-hour cycle: 2620-2660 is still the current oscillation range
Oscillating center: 2645 (ray A: the most effective pressure line at present)
After the trend adjustment on Wednesday: Gold currently stands at 2645, and oscillates in a narrow range of 2645-2650.
Oscillating space: There is a high probability of a new trend around 2645 today (yellow circle: the current convergent oscillation range, there is not much area, which means that a new trend is about to break out, we continue to wait)
The current trend of gold is converging and oscillating around 2645-2650. Still focus on: the trend performance around 2645
Strategy:
-------------------------
Long-term thinking:
Bottom support: 2645
Breaking pressure: 2655-2660
Upward target: 2660-2680
-----------------------------------------
Short-term thinking:
Top pressure: 2650
Breaking support: 2645-2635
Downward target: 2630-2620-2600-2580
Today's gold thinking: At present, the market has no clear direction for fundamentals. Focus on the trend of the European market, combined with the US market data, and treat it with a low-long thinking.
Fundamentals: (Gold is about to explode this week, so be sure to do a good job of risk control)
Is it weird? Fed officials have repeatedly released "hawkish" but the probability of a rate cut in December is still rising!
Before the December resolution, the US official will also release two heavyweight economic data - the November non-farm payrolls data this Friday and the November CPI data next Wednesday. As Powell failed to give a clear signal on whether to cut interest rates in December overnight, the performance of these two data may ultimately determine the direction of the Fed's decision-making at that time.
On Thursday, December 5, in the early Asian session, spot gold showed a narrow range of fluctuations and is currently trading around $2,649. Gold prices rose slightly on Wednesday, closing at around $2,649. Previous data showed that private employment in the United States achieved moderate growth last month, while investors digested the speech of Federal Reserve Chairman Powell and looked forward to Friday's non-farm payrolls report.
Combined with the daily and hourly chart structures, it is likely that gold will temporarily fluctuate today and tomorrow. However, the upper pressure is also very obvious. Considering that the future market focus will shift to the expectation of a temporary interest rate cut in December, gold will still face a great demand for adjustment.
Gold Trend Forecast for New Day (December 5) – Rebounds to 2666 🔽Gold prices rose on Wednesday (December 4), after data showed the number of jobs created by the US private sector increased at a moderate pace last month, ahead of a speech by the US Federal Reserve Chairman Jerome Powell later in the day and the official jobs report on December 6.
🔽The ADP report showed that the US private sector created 146,000 jobs last month, slightly lower than the forecast of 150,000 jobs increase from economists participating in a Reuters poll.
🔽Gold is seeing a weak reaction today, with a stronger-than-expected impact from the upcoming official US jobs report and if the data shows a weakening number of jobs, that will support gold prices.
🔽Gold seems to be finding strong resistance at 2630
Note: Currently Gold is completely following fundamental news Especially US economic news! Bad News Gold Rises! Good News Gold is down
🔽Currently, Gold has broken 2655 and has a Closed closing level around 2650 and is the second consecutive day that Gold has closed higher than the previous day, so today Kevin will prioritize following Buy Gold
🥰Trading plan:
🔼 Buy Gold: 2636x – 2634x
SL: 2630
Tp: 2644 - 2653 – 2688 – 2720
🔽 Sell Gold: 2663x – 2665x
SL: 2668
TP: 2678- 2665
🫶Note: Set SL tightly for each order, the financial market is full of risks, if you do not set SL, do not place an order.
🫶Wishing everyone a happy and joyful Thursday 🫶
XAUUSDAfter a sweep of Tuesday Low, it has created a strong Bullish OB with a iFVG inside.
Currently expecting the market to move below the IPDA, taking out the Asian Low and then move higher into the ERL-PDH.
Entry from the iFVG.
Gold (XAU/USD) !! Bears are Getting Ready.How's the Josh traders??
So Gold,
Many of them are Bullish and the shorter time frame charts are showing a bullish stance.
BUT !! My Analysis Seems Different.
On the chart in Daily time frame we can clearly se Price is taking resistance near 0.618% & 0.786% of Fibonacci levels, May be I am Wrong.... but i am considering it as Impulse wave 3(Elliot Wave theory) so if i am right then wave 5 is also pending and price may move further more downwards.
AS PER MY ANALYSIS, I AM INITIATING SHORT POSITION.
SHORT GOLD
SL : HIGH OF FIBONACCI RETRACEMENT OF 0.786%
TARGET : 2366/2109
NOTE : THIS IS FOR EDUCATIONAL PURPOSE PLEASE REFER TO YOUR FINANCIAL ADVISOR BEFORE TAKING ANY TRADE.
HAVE A GOOD DAY TRADERS.
GOLDGold Spot looking good to trade Bullish BAT pattern with resistance of 2650.52, RSI also in weak zone. PRZ will be 2637.63.
Gold XAUUSD still sell on rise near resistance area on chartDisclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
ENTRY -
When price breaks Trailing SL (SL 27.2% )retracement Which is SL points then take Entry on Buy or Sell Trade
SL -
D points Which is recent High / Low mentioned in Chart is our SL
TARGET -
Target 1- (T1 : 38.2 %)
Target 2- (T2 : 50 %)
Target 3- (T3 : 61.8%)
Target 4- (T4 : 78.6 %)
Target 5- ( T5 : 88.6%)
Target 6- (T6 : 100 %)
Target 7- (T7 : 127.2 %)
Target 8- (T8 : 141.4 %)
Target 9- (T9 : 161.8 %)
Please note:-
It's working on news based and volitile market very well so exit if SL hit
XAUUSD todayHello dear friends, it's Samson here!
Gold prices continue to consolidate within a familiar range, as the market awaits a fresh catalyst to drive the next decisive move. What’s in store for gold, and what scenarios could unfold?
At the moment, sellers have hit the pause button, keeping an eye on key events like Federal Reserve Chair Jerome Powell’s remarks, U.S. employment data, and the all-important CPI report. These indicators will shape expectations for the Fed's policy outlook. According to the CME FedWatch Tool, traders are currently pricing in a 74% chance of a 25-basis-point rate cut at the upcoming Fed meeting. However, nothing is set in stone, and until clear signals emerge, the market may remain locked in consolidation mode.
On the technical front, gold could build bullish momentum to test significant resistance levels amid favorable news. However, if prices break below the critical support at 2636 and sustain that position, a bearish wave could gain traction sooner than anticipated.
This is a pivotal moment for XAUUSD, as the market balances between anticipation and action. What’s your take on the current setup? Let’s discuss your thoughts, forecasts, or any questions you have—together, we can navigate these shifting dynamics!
BACKTEST CHALLENGE WEEK #1
Want to turn your idea into an automated trading system?
Curious about testing the effectiveness of an indicator or any trading system?
Drop a comment below this post, and I’ll help you—for free!
BACKTEST CHALLENGE WEEK #1
I want to challenge myself, so every week I will handle 1–2 requests to code a trading system on TradingView based on ideas contributed by the community. (mostly XAU or BTC)
The system might turn out to be profitable, or it might not meet expectations, but what matters is how I combine indicators, transform indicator combinations into an automated entry and exit system, and analyze the output metrics.
Additionally, my approach will heavily leverage ChatGPT to develop Pine Script solutions tailored for traders without a programming background.
All of this will help traders shorten the process of refining their systems, save time, and achieve greater profits.
👇 What you need to do is provide a detailed description of your request in the comments below. I will pick requests one by one and complete them.
Gold Trading Strategy for 5th December 2024Gold has been consolidating within a narrow range of 2605 to 2670 over the past five days. This suggests that the market is in a period of indecision, with neither buyers nor sellers able to push the price decisively in one direction. Typically, such consolidation periods are followed by significant moves once the price breaks out of the established range.
Trading Strategy:
Buy Strategy:
Entry Point: Initiate a long position (buy) when the price closes above 2670 on a 15-minute candle. This indicates a potential breakout to the upside.
Stop Loss: Set a stop loss slightly below the breakout point to manage risk. For instance, a stop loss could be placed at 2655, just below the recent consolidation range.
Target: Identify target levels based on historical resistance levels or use a risk-reward ratio of at least 2:1. For example, if the stop loss is 15 points away (2655), then the target could be 30 points above the entry (2700).
Sell Strategy:
Entry Point: Initiate a short position (sell) when the price closes below 2630 on a 15-minute candle. This indicates a potential breakdown to the downside.
Stop Loss: Set a stop loss slightly above the breakdown point. For example, a stop loss could be placed at 2645.
Target: Similar to the buy strategy, set target levels based on historical support levels or use a risk-reward ratio of at least 2:1. If the stop loss is 15 points away (2645), then the target could be 30 points below the entry (2600).
Risk Management:
Always use stop losses to protect your capital. Never risk more than a small percentage of your trading capital on a single trade.
Consider the overall market context and any upcoming economic events that could impact gold prices.
Market Context:
Keep an eye on factors influencing gold prices such as interest rates, inflation data, and geopolitical events. These can cause significant volatility and may impact your trading strategy.
Disclaimer: Trading in financial markets involves substantial risk of loss and is not suitable for every investor. The strategies and opinions expressed are those of the author. Users should perform their own research and consult with a financial advisor before making trading decisions. Past performance is not indicative of future results.
Trade wisely and stay informed! 📈💡
