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XAUUSD 8/29/2024 Is the uptrend over? Yesterday as predicted, wave C was completed with very strong selling pressure, we did not reach the target of the first BUY zone, but at the second BUY zone, we had a big win of 210 pips, congratulations to all of us. Currently, the uptrend is still dominant. Looking at the current trend, we expect a 5-wave structure as shown on the chart. Besides, there is still the possibility of an ABC correction structure. - We have the price zone 2510.7 as a confirmation point, if the price closes above 2510.7, then we are in a 5-wave uptrend. If the price closes below 2510.7, then this increase is just an ABC correction and then the price continues to decrease when the structure is completed. - My current view is leaning towards a 5-wave bullish structure because I am expecting wave C to reach its target at 2493.7 and then a 5-wave structure will follow, then we have wave 5 target at 2536 - 2539, this is the first target and this is also the target area for us to SELL - If the current structure is an ABC correction structure, then we have wave C target at 2487 - 2484, this will be our BUY target - In addition, we have a large demand concentration area at 2509 - 2506, so this is also a target area for us to BUY SCALP Trading plan BUY SCALP ZONE: 2509 - 2506 SL: 2499 TP1: 2518 TP2: 2524 TP3: 2531 BUY ZONE: 2487 - 2484 SL: 2477 TP1: 2499 TP2: 2506 TP3: 2531 SELL ZONE: 2536 - 2539 SL: 2546 TP1: 2531 TP2: 2524 TP3: 2509
OANDA:XAUUSDLong
by DEEKOP
XAUUSD(Gold)- Under Pressure 2510-2512$Today, gold fell from its highs and the trend turned weak. After hitting the highs, the price of gold continued to fall and once fell below the $2,500 mark. Although the price briefly recovered 2,500, from a technical point of view, the short-term downward trend of gold has been established. The failure to break through the highs means that the strength of the bears is gradually increasing. The 4-hour chart shows that gold has formed a typical triple top structure, which is usually a signal of trend reversal. Furthermore, gold prices not only fell below the lows of the past two days, but also fell below the $2,500 mark and the 4-hour moving average support, indicating that bears are dominating the market. It is expected that the upper $2,510-2,512 line will become a strong resistance level, and the rebound high will gradually move down, showing signs of long weakness. In the current market structure, there is still room for downside in gold prices. If it rebounds to the $2510-2512 area in the short term, you can consider shorting on rallies. The $2,470-2,485 range below will be short-term support. If the price drops further, it is necessary to focus on the performance of this range.
OANDA:XAUUSDShort
by Aurum_Capital
Current Gold Movement AnalysisGold structure in the Asian session on August 29. After bouncing from the support zone of 2495 as analyzed yesterday. Gold was strongly pushed back above yesterday's resistance zone of 2511. The 2511 zone unexpectedly became an important support zone of today's session and then the resistance level of 2518 became a trading price range for gold in the Asian session to the European session. With the strong pulling force here, it can be seen that gold is ready to create a new ATH today if gold does not have the pulling force to the 2485 area. Pay attention to trading in the 2818-2511 zone in the Asian session
OANDA:XAUUSD
by TVS-Trader
Crude sell on rise until ATH not break we exit buy at 2523 ystYesterday we exit from buy trade at 2523 also get profit on sell trade today Disclaimer - 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 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
OANDA:XAUUSDShort
by JaiPrakashShuklaHarmonicTrader
GOLD XAUUSD Analysis on (26/08/2024)#XAUUSD UPDATEDE Current price - 2512 If price stay below 2530,then next target 2490 and 2470 and above that 2540 Plan1; If price break 2518-2522 area and stay below 2510 area ,we will place sell order in gold with target of 2496,2484and2470 & stop loss should be placed at 2530 Plan2; If price break 2529-2532 area and stay above 2533 area ,we will place buy orders in gold with target of 2545and2555 & stop loss should be placed at 2520 Trading tips:(Accuracy 90%)
OANDA:XAUUSDLong
by karthifx17
XAUUSD(Gold)- Resistance Level 2520$ Gold Technical Analysis: From the daily perspective, gold has fluctuated around the 2510 line for nearly 7 trading days in the past, which is the area where the peak of the previous rising Yang line was located. In other words, after a sharp rise, gold has entered a sideways adjustment state. As the high-level consolidation time is prolonged, the market gradually digests the bullish momentum, which increases the risk of retracement adjustment. At present, the daily trend of gold is still oscillating in a high range, and the short-term moving average is flattening, indicating that the current adjustment is mainly based on range fluctuations, rather than a unilateral trend. On the 4-hour chart, the short-term moving average begins to gradually diverge downward, and the K line gradually bears pressure below the short-term moving average, and the trend is slightly weak in the short term. The hourly level shows that after a wave of rapid bottoming rebound, the rebound strength is limited, and the price center of gravity gradually moves downward, suggesting that the European and American sessions may continue to show a volatile correction trend. Today we will focus on the first-line resistance level of 2518-2520. If it breaks upward, the bullish trend is expected to continue; if the price fails to break through this range, it will continue to fall back. On the whole, today's short-term gold operation advice is to mainly go short on rebounds, supplemented by longs on callbacks. The upper side focuses on the resistance range of 2518-2520 in the short term, while the lower side focuses on the support range of 2490-2493.
OANDA:XAUUSD
by Aurum_Capital
XAU/USD (Gold ) Elliott-wave Road-Map for Price $2997 On the weekly time frame, gold is in 5th wave , Let's count the wave inside the 5th wave on the daily chart. 1st wave: $1609 to $2068. It looked like a springing bounce. 2nd wave: $2068 to $1810. It was a deep correction between 50-60% of wave 1. 3rd wave forecast: 261.8% of wave 1 is @ $2997. Inside the 3rd wave, I have labeled waves in a green color. 5th subwave seems extended. 100% expansion is at 2997 which is 261.8% of wave 1 on a higher degree. #XAUUSD #gold
OANDA:XAUUSDLong
by Elliottwave-Edge
1
Trading gold signals 28/8☘️Fundamental Analysis Gold prices lost steam amid a modest recovery in the US dollar (USD) on Wednesday. However, escalating geopolitical tensions in the Middle East could help limit losses. In addition, US Federal Reserve (Fed) Chairman Jerome Powell's speech at the Jackson Hole symposium last week, signaling that it was "time" to start cutting interest rates, could support the precious metal as it reduces the opportunity cost of holding non-interest-bearing assets. Investors will pay closer attention to speeches by Fed officials Christopher Waller and Raphael Bostic on Wednesday for some hints on the path of US interest rates. Attention will also turn to preliminary data on US annualised GDP for the second quarter (Q2) and the Personal Consumption Expenditures (PCE) price index, due on Thursday and Friday. Better-than-estimated results could lift the US Dollar (USD) and limit upside in USD-denominated Gold prices. ☘️Technical analysis Gold is retreating from the closing level of 2424, currently gold is approaching the important area of ​​2509. When breaking this area, lower areas can pay attention to trading in the European session around 2503-2495. Today, the main plan is to wait for buying to break ATH. On the contrary, if the price pushes to 09 and does not break, you can buy in the 09 area. If you cannot break this area in the European session, you can close the order. The candle closes above 2020 after the European session ends, consider finding a recovery point for DCA to buy the target to break ATH. Wish you a successful transaction. SELL scalp zone 2530 - 2532 stoploss 2536 SELL zone 2545 - 2547 stoploss 2551 BUY scalp zone 2496 - 2494 stoploss 2490 BUY zone 2485- 2483 stoploss 2480
OANDA:XAUUSD
by TVS-Trader
XAUUSD 8/28/2024 Has the price started a new trend? Looking at H1, we see a completed 5-wave structure followed by a correction structure. Currently, we have 2 possibilities that can happen with the current price structure Case 1, we have a Flat correction structure with peak B equal to peak 5 as shown on the chart. Then we need to wait for the price to complete wave C to be able to trade. In this case, it is confirmed when the price breaks through the 2503.9 zone - Case 2 is that the price has completed the ABC correction wave at the 2503.9 price zone and the price is currently in a 5-wave uptrend structure. If so, we have the current correction wave as correction wave 2 in a new uptrend structure, then we expect the price to break through the 2526.6 zone to create a new higher peak. And this case is confirmed when the price breaks through 2526.6. Combining the possibilities we have the following trading targets. Pay special attention because the current price structure is still unclear, requiring us to manage the transaction closely. SELL ZONE: 2536 - 2539 SL: 2546 TP1: 2527 TP2: 2519 TP3: 2523 BUY ZONE: 2512 - 2509 SL: 2502 TP1: 2519 TP2: 2531 TP3: 2536 BUY ZONE: 2498 - 2495 SL: 2488 TP1: 2509 Tp2: 2519 TP3: 2531
OANDA:XAUUSDLong
by DEEKOP
POSSIBLE GOLD MOVE WITH 1:10 RISK REWARD AT SUPPLY ZONEGOLD SHOWING A GOOD UP MOVE WITH 1:10 RISK REWARD DUE TO THESE REASON ALL THE SETUPS ARE JUST FOR EDUCATIONAL PURPOSE A. Volumes showing buyers are showing intrest . and shock zone going to break 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
XAUUSD(Gold)-Double Top Resistance Today, gold rose again due to risk aversion, but it still failed to break through the new high. It is not advisable to chase more directly at present, and we still have to be careful of the double top falling under pressure. There was still a slight upward movement during the day, breaking through the 2520 line, but the short-term energy was not that strong. There was a brief decline during the U.S. session, and the speed and intensity of the decline accelerated significantly, but it still did not stand above 2520. ! From the 4-hour chart, gold has been rising slowly recently, and then there may be a sharp drop, so we must be cautious about the current market of gold. Gold can be shorted again near 2525 in the US market. If it breaks through the new high, then we will follow the trend. On the whole, today's short-term recommendations for gold are mainly to go short on rebounds, supplemented by longs on callbacks. The top short-term focus will be on the 2525-2530 resistance range, and the bottom short-term focus will be on the 2490-2495 support range.
OANDA:XAUUSDShort
by Aurum_Capital