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XAUUSD trade ideas

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.
OANDA:XAUUSD
by TheChartist_Code2trade
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! 📈💡
OANDA:XAUUSD
by ramkkyy
Gold analysis on Wednesday: long-short boundary near 2645Gold analysis on Wednesday: long-short boundary near 2645 As shown in the figure: Four-hour cycle: 2620-2660 is still the current oscillation range Oscillating center: 2640-2645 range (ray A: the most effective pressure line at present) Oscillating space: Today, there will be a general direction around 2645 (yellow circle: the current convergent oscillation range, there is not much area, which means that a new trend is about to break out) The current trend of gold is converging and oscillating around 2640-2645. Still focus on the trend performance around 2640-2645. Strategy: ------------------------- Bull thinking: Bottom support: 2635-2640 Breaking pressure: 2650-2655 Upward target: 2655-2670-2680 ----------------------------------------- Bear thinking: Top pressure: 2650-2655 Breaking support: 2640-2635 Downward target: 2630-2620-2600-2580 As the Asian market gradually weakens, once it breaks below 2635, gold is likely to fall in volume today, and stop loss must be set at the same time Today's gold thinking: short at highs Policy: (Gold is about to explode in a big market, and risk control must be done well) The explosive market is about to happen! Powell's speech leads these major events to come. There are many risks in financial market events on this trading day, including the US ADP employment report, the US ISM service industry PMI, the Federal Reserve Beige Book, and the speech by Federal Reserve Chairman Powell, which are expected to trigger major market movements. 1: The US ADP employment change data for November will be released. This data is known as the "small non-agricultural": the US ADP employment is expected to increase by 150,000 in November. Previously, the US ADP employment increased by 233,000 in October. If the data is higher than expected, it may rekindle optimism about Friday's non-agricultural employment data and lead to lower gold prices. 2: The US ISM non-manufacturing purchasing managers' index (PMI) for November will be released, expected to be 55.5. 3: Federal Reserve Chairman Powell will be invited to be interviewed at the New York Times DealBook/Summit conference. In his last speech in November, Powell made hawkish remarks, saying that the Fed did not need to rush to cut interest rates because the job market was solid and the inflation rate was still above the 2% target. Federal Reserve Chairman Powell said at an event at the Dallas Fed that the U.S. economy has not sent any signal that the Fed needs to cut interest rates as soon as possible, and the current strong economy gives the Fed the ability to make cautious decisions.
FOREXCOM:XAUUSD
by G-Janaya
Gold (XAU/USD) Analysis superb trade Gold (XAU/USD) Analysis Timeframe: 15-Minutes Key Observations: A strong descending resistance trendline (purple) is visible, tested multiple times (marked with yellow circles). Price has bounced from the ascending support trendline (purple) near the lower zone, showing significant buying pressure. Horizontal support and resistance zones (blue) provide clear areas for price reactions. Indicators Used: Ichimoku Cloud: Highlighting key dynamic support and resistance zones. EMA lines: Confirming directional trends and potential crossovers. Price is testing a resistance zone, indicating a potential reversal or breakout scenario. Trade Setup: Entered a long position near the trendline support. Stop Loss: Below the ascending support zone. Target: Near the next significant resistance zone. This setup reflects a balanced risk-reward ratio, respecting technical zones and market momentum.
TVC:GOLDShort
by yashshekhawat1999
Update XAUUSDSpot gold prices continue to rise as the US dollar weakens, making it more affordable for holders of other currencies to purchase gold. Meanwhile, crude oil prices unexpectedly surged to $70 per barrel, adding upward momentum to gold’s price trend. Another contributing factor is the announcement of martial law in South Korea. This has sparked concerns among financial investors about potential instability in the country, which could impact commodity prices and international currency markets. Consequently, many have increased their gold purchases as a safe-haven asset. These factors are fueling gold prices to climb further today.
OANDA:XAUUSDLong
by Bo-Samson
Gold trading strategy for 04th 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! 📈💡
OANDA:XAUUSD
by ramkkyy
Gold analysis today: 2640-2645 will show a new directionGold analysis today: 2640-2645 will show a new direction As shown in the figure: Four-hour cycle: 2620-2660 is the current oscillation range Oscillating center: 2640 The current trend of gold is converging and oscillating around 2640. We still focus on the trend performance near 2640. Strategy: ------------------------- Bull ideas: Bottom support: 2630-2635 Break pressure: 2640-2645 Upward target: 2650-2660-2670 --------------------------------------- Bear ideas: Top pressure: 2640-2645 Break support: 2630-2635 Downward target: 2620-2600-2580 Monday market interpretation: fast fall, slow rise, start to fall from the Asian session Tuesday market interpretation: slow fall, fast rise, start to rebound from the Asian session Today's market summary: Low-to-long ideas, reasonable position control, set a good stop loss Policy (positive): New York Fed President Williams, who is known as the "third in command of the Federal Reserve" and enjoys permanent voting rights on the FOMC, said that now that inflation and employment risks are more balanced, officials may need to further lower interest rates to shift policies to a neutral stance. But Williams did not say whether he would support a rate cut when policymakers meet later this month, saying decisions would be made at each meeting. "I expect that it will be appropriate to continue to move toward a more neutral policy environment over time," Williams said Monday in prepared remarks for a Queens Chamber of Commerce event in New York. "The path of policy will be data-driven. If we have learned anything over the past five years, it is that the outlook remains highly uncertain." The neutral rate is the rate that neither stimulates nor hampers economic growth. Williams said the economy is in good shape and the labor market is solid. Labor demand has cooled and labor supply has increased, and Williams said the labor market is unlikely to add to inflationary pressures in the future. Williams said that while inflation remains above the Fed's 2% target, there is reason to believe that inflation will reach the target, noting that inflation for goods and services other than food, energy and housing has slowed. Fed officials began cutting rates in September after raising them to a peak of 5.25% to 5.5%, which helped cool inflationary pressures from a peak of 7.2% in mid-2022. But recent data showed stubbornly high inflation in the services sector, and investors in December futures contracts are betting that the rate-cutting cycle could pause. The personal consumption expenditures price index excluding food and energy rose 2.8% in the 12 months through October. On the geopolitical front (bullish): At least nine people were killed and three others wounded in an Israeli attack on two southern Lebanese towns, Talousa and Haris, on Monday. The Israeli military said it struck dozens of Hezbollah targets across Lebanon. Earlier on Monday, Lebanese authorities reported two more deaths in Israeli strikes elsewhere in southern Lebanon, including a state security agent who was killed in the line of duty, bringing the day's death toll to 11. Shortly before Israel launched its latest attack, Hezbollah accused Israel of violating a ceasefire by firing missiles at an Israeli military position in the disputed Shebaa Farms area. Hezbollah said it was a "defensive warning strike." Residents of Beirut also told Reuters they heard drones flying low overhead late at night. The exchange of fire makes the U.S.-brokered ceasefire between the two sides increasingly fragile less than a week after it came into effect. U.S. officials worry that the Lebanon ceasefire could fall apart. The White House is concerned that Lebanon's fragile ceasefire could fall apart after Israel and Hezbollah exchanged fire in recent days.
FOREXCOM:XAUUSD
by G-Janaya
XAU/USDTechnical analysis is a powerful tool for analyzing forex pairs, but it's important to remember that it's not a guaranteed predictor of future price movements. It's best used in conjunction with other tools and strategies. Here are some key concepts in technical analysis: Charts: Price charts are the foundation of technical analysis. They show the historical price movements of a currency pair over time. Different chart types (candlestick, bar, line) can provide different insights.
OANDA:XAUUSDLong
by Forexlia
Gold XAUUSD sell on riss until 2670 not break levels 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
OANDA:XAUUSD
by JaiPrakashShuklaHarmonicTrader
GOLD--> The bears are gaining strength! Next target: 2600OANDA:XAUUSD is declining after a false breakout of the resistance range. The fundamental backdrop is mixed and still does not allow for a clear medium- and long-term strategy to be formed. But!... Trump's tariff policy and rising geopolitical tensions are influencing metal prices. Against the backdrop of a strengthening dollar and expectations of a Fed rate cut, gold prices are declining and confirming the market's structure. Looking ahead, all eyes will be on U.S. employment data as the country will release multiple job-related figures ahead of the Non-Farm Payrolls (NFP) report on Friday. From a technical standpoint, we have a trend to watch after leaving the rising channel support and the 2636 area, reflecting the prevailing bearish sentiment. A breakout below 2636 could trigger aggressive selling against the backdrop of a newly strengthened dollar. However, the possibility of a retest of the area of interest before continuing the downward trend cannot be ruled out. Gold prices are expected to decline and reach levels of 2610 and 2596, respectively.
OANDA:XAUUSDShort
by Bo-Samson
Gold Trading Strategy for 03rd December 2024.Buy: When the price of gold is above 2652 on the close of a one-hour candle. Sell: When the price of gold is below 2624 on the close of a one-hour candle. Current Price: 2639 Support Levels: 2634 | 2624 | 2618 Resistance Levels: 2643 | 2661 Disclaimer: This strategy is for informational purposes only and should not be considered financial advice. Trading involves risk, and you should do your own research or consult with a financial advisor before making any investment decisions.
OANDA:XAUUSD
by ramkkyy