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XAUUSD(GOLD)-Beware of Upward BreakoutFrom a technical perspective, the gold market is currently in an uptrend, and bulls are waiting for the right time to push gold prices further up. On the daily chart, the relative strength index (RSI) remains above 50, indicating that although there may be a pullback in the short term, the overall trend remains bullish. Gold prices have broken out of the symmetrical triangle pattern, and market risk appetite is still inclined to the upside. Although the 14-day RSI has retreated slightly, it still remains above 50, suggesting that short-term pullbacks may become buying opportunities. The current key support level is at 2486 (Monday's low). If the price continues to correct, the next support level will be at 2468 (previous triangle resistance level), and the psychological level of 2450 will be below. A break below 2450 will pose a major challenge to bullish sentiment. On the 4-hour chart, the price has broken through the previous high narrow range of fluctuations. In the short term, pay attention to whether there is a possibility of pulling up again after a pullback confirmation. At present, the K-line on the hourly chart is running outside the upper track of the Bollinger Band, indicating that there may be a need for adjustment and repair in the short term. After continuous rise, the short-term moving average began to diverge downward, tending to have a short-term adjustment. Although the bulls are still strong and broke through the 2510 mark, we maintain the view that the third quarter may rise and then fall. The current market has broken a new high, but bulls should remain cautious and pay attention to the strong resistance area of 2525-2530 above, which may be an opportunity for shorts to enter the market. After gold broke through 2510 in the European session today, focus on the resistance of the 2525-2530 range; if the rebound fails, the pullback support can be seen in the 2505-2500 range.
OANDA:XAUUSD
by Aurum_Capital
XAUUSD in last 5th wave upxauusd moving in channel with impulse wave. Currently it is in last 5th wave up and it is in equality with wave 3 where wave 3 moved from 2380-2479 now wave 5 moved from 2432 to 2532. Now needs to be cautious at higher level.. profit booking is expected. Currently getting resisted near the channel top. Formation of bearish candle needed for shorts Breaking of green trendline will indicate more weakness Discalimer : wave study is only for educational purpose and not as trade recommendation.
OANDA:XAUUSDShort
by MDstockmagic
3
GOLD MOVEMENT UPSIDE Last predicted that Gold Price will touch 2512$ on higher side. It actually touched 2510$ on higher side. Our Spot #Gold Range Prediction from 20/08/2024 to 23/08/2024 is as under. Gold Spot : 2485 $-2548$ 2590$ Gold INR : 71900-72250-73900 It must be remembered that price of precious metal depends on so many world wide factors like inflation, Fed interest rate, trade barrier, geopolitical tension, demand, supply, bond yield, dollar index , GDP, payroll data, CPI, currency fluctuation, debt ceiling , expected tax & duty changes, other commodity price crude oil etc. etc. and hence there can not be any accurate barometer of predicting precious metal price. Gold INR has been calculated taking Gold Spot international price and converting the same assuming fixed Indian rupee rate. However, this is not accurate method as change in rupee value to dollar can substantially impact Gold INR price. Pl. note that price of commodity doesn't depend upon performence of company but depend upon performence of world economy, hence it is extremely risky to trade in commodities. Commodities market also become more volatile during contract expiry. These are not a recommendation for buy or sell. This view is only for educational purpose. You are requested to consult your financial advisor before entering in to any trade.
OANDA:XAUUSDLong
by santoshshukla1996
XAUUSD Analysis Today (August 20, 2024)Hello everyone, After a period of consolidation within an ascending triangle, gold has broken out and is now approaching the psychological level of $2,520. This is supported by the rising trend line and the bullish crossovers of EMA34 and EMA89, confirming the current bullish momentum. Based on the technical analysis, the uptrend of XAUUSD is likely to continue in the near term. The next target could be the strong resistance zone at $2,530. However, if there is a correction, the support zone at $2,505 will be the key price level to watch.
OANDA:XAUUSDLong
by Shivam_Signals
2
Trading Strategy (XAUUSD) European Session 08/20/2024Resistance Levels: 2509 - 2519 - 2533 Support Levels: 2495 - 2488 - 2475 - 2470 You Can Refer To My Trading Recommendation Below To Help You Make Profit In The Asian Session Recommended for daily trading around the price range: CANH SELL XAUUSD AROUND 2505-2507 Stoploss: 2512 Take Profit 1: 2503 Take Profit 2: 2500 Take Profit 3: 2497 CANH BUY XAUUSD AROUND 24987-2495 Stoploss: 2490 Take Profit 1: 2501 Take Profit 2: 2504 Take Profit 3: 2508 Note: Always set TP and SL during the transaction to achieve the highest performance
OANDA:XAUUSDLong
by DuyVinh_Trading
#XAUUSD/H1 Confirm the two-peak model or continue to increase?Gold XAUUSD analysis on August 20, 2024: Following the start of the trading week on Monday, prices remain sideways in the 2500 - 2510 range. This correction phase is likely forming a double top pattern at H1; breaking through the 2477-2480 range would confirm the pattern. Currently, there is a small overbought area at 2508 - 2513. Today's trading trend is SELL. Key price levels to note: SELL zone 2510 - 2516, 2526 - 2530; BUY zone: 2490-2493, 2477 - 2482. Recommended orders: Plan 1: SELL XAUUSD zone 2514 - 2516 SL 2522 TP 2508 - 2500 - 2590 - 2435. Plan 2: BUY XAUUSD zone 2490-2492 SL 2486 TP 2495 - 2500 - 2510. Plan 3: BUY XAUUSD zone 2480 - 2482 SL 2476 TP 2488 - 2495 - 2510.
OANDA:XAUUSDShort
by oakpotshy
Asian Session Trading Strategy August 20, 2024Resistance Levels: 2509 - 2519 - 2533 Support Levels: 2495 - 2488 - 2475 - 2470 You Can Refer To My Trading Recommendation Below To Help You Make Profit In The Asian Session Recommended for daily trading around the price range: CANH SELL XAUUSD AROUND 2509-2511 Stoploss: 2514 Take Profit 1: 2505 Take Profit 2: 2502 Take Profit 3: 2497 CANH BUY XAUUSD AROUND 2493 -2495 Stoploss: 2489 Take Profit 1: 2499 Take Profit 2: 2503 Take Profit 3: 2507 Note: Always set TP and SL during the transaction to achieve the highest performance
OANDA:XAUUSDLong
by DuyVinh_Trading
XAUUSD(GOLD)-Buy around 2480-2485 At the weekly level, gold has once again set a new record high, reaching 2509.60. When the market is strong, there should be no "fear of heights" mentality, because there is no highest, only higher. Last Friday, the price of gold broke through the upward trend with a very strong trend. Although there was a single negative retracement in the evening, it finally closed at around 2507.70, showing obvious signs of strength. Today is Monday. After the opening, gold turned negative and retraced. The current main strategy is to do more at low levels. From the daily chart, the stochastic indicator in the K line continues to cross, showing a bullish upward signal; the MACD indicator double-line adhesion upward, also conveying a bullish signal. Therefore, the daily operation can be based on the trend of thinking. In the 4-hour chart, the short-term risk aversion sentiment did not continue strongly after gold hit a new high, so there may be a trend of adjustment and decline in the short term. At present, the support position is roughly around 2480, which is a support position for top and bottom conversion; the second is the middle axis support near 2470, and the lower rail support is between 2440-2433. Therefore, in the 4-hour chart, you can choose to go long on the pullback and follow the trend. From today's overall trend, it is unlikely to continue the extremely strong momentum of last Friday, especially when the news and data are relatively light, so there is a possibility of correction. Since it rose to 2509 last Friday, and the high point that encountered resistance many times in the previous period was near 2480, if it retreats to this position, the momentum of the subsequent rise and breakthrough of the high point may be limited, and it is more likely to enter a range of fluctuations. Therefore, in the retracement after the strong rise, it can be regarded as an energy accumulation correction. The support range near 2485-2480 should be paid attention to during the day to see the possibility of bottoming out and rebounding, and the upper resistance level should focus on the 2510-2515 range.
OANDA:XAUUSD
by Aurum_Capital
XAUUSD SHOWING A GOOD DOWN MOVE WITH 1:7 RISK REWARDXAUUSD SHOWING A GOOD DOWN MOVE WITH 1:7 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the market 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 XAUUSD SHOWING A GOOD DOWN MOVE WITH 1:7 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the market 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
FXOPEN:XAUUSDShort
by tradergyan01
Gold XAUUSD book profit at 2503 bought at 2388 ,fall possible Book profit on gold XAUUSD at 2503-2505 we bought at 2388 , 115 points huge profit, avoid fresh buying until All time high not break. If break then again buy also 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:XAUUSD
by JaiPrakashShuklaHarmonicTrader
9
XAUUSD 19/8/2024 price has created ATH? Last weekend we had a strong increase on Friday that broke the old peak to create a new ATH. This increase has caused the RSI indicator to enter the overbought zone. In my experience, when the price moves quickly and sharply while looking at the RSI entering the oversold zone, this is a sign of wave 3. - Currently we see the price falling to the 2500 zone, so we expect an ABC downtrend structure of wave 4. - I measured the wave 4 target at the 2485 - 2483 zone, after reaching the wave 4 target, we expect a wave 5 increase to complete the 5-wave uptrend structure. - I measured the wave 5 target at 2517 - 2520 and 2531- 2534 zones, these are the 2 target zones I expect to SELL down. Trading Plan BUY ZONE: 2467 - 2463 SL: 2457 TP1: 2493 TP2: 2500 TP3: 2517 BUY ZONE: 2485 - 2482 SL: 2475 TP1: 2500 TP2: 2509 TP3: 2517 SELL ZONE: 2517 2520 SL: 2527 TP1: 2506 TP2: 2500 TP3: 2484 SELL ZONE: 2531 - 2534 SL: 2541 TP1: 2519 TP2: 2500 TP3: 2484
OANDA:XAUUSDShort
by DEEKOP
GOLD UPDATE WEEKEND Last week we predicted that Gold Price will touch 2512$ on higher side. It actually touched 2510$ on higher side. Our Spot #Gold Range Prediction from 19/08/2024 to 23/08/2024 is as under. Gold Spot : 2400$-2510$ Gold INR : 68700-71800 Our Spot #Silver Range prediction from 19/08/2024 to 23/08/2024 is as under. Silver Spot: 27.00$-29.10$ Silver INR: 79000-83600 It must be remembered that price of precious metal depends on so many world wide factors like inflation, Fed interest rate, trade barrier, geopolitical tension, demand, supply, bond yield, dollar index , GDP, payroll data, CPI, currency fluctuation, debt ceiling , expected tax & duty changes, other commodity price crude oil etc. etc. and hence there can not be any accurate barometer of predicting precious metal price. Gold INR has been calculated taking Gold Spot international price and converting the same assuming fixed Indian rupee rate. However, this is not accurate method as change in rupee value to dollar can substantially impact Gold INR price. Pl. note that price of commodity doesn't depend upon performence of company but depend upon performence of world economy, hence it is extremely risky to trade in commodities. Commodities market also become more volatile during contract expiry. These are not a recommendation for buy or sell. This view is only for educational purpose. You are requested to consult your financial advisor before entering in to any trade.
OANDA:XAUUSDShort
by santoshshukla1996