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XAUUSD trade ideas

XAUUSD 4H SWING SELL PROJECTION 13.09.24Technical Reason for Gold Sell You're looking for technical reasons to sell gold. Here are a few: 1. Overbought conditions: If gold's Relative Strength Index (RSI) exceeds 70, it may be due for a correction. 2. Trend line break: A break below a key trend line, like the 50-day moving average, could signal a sell. 3. Chart patterns: A head and shoulders pattern or a double top could indicate a reversal. 4. Fundamental changes: A strengthening US dollar, rising interest rates, or improved economic conditions could reduce gold's appeal. Keep in mind that technical analysis is not foolproof, and it's essential to combine it with fundamental analysis and market news. Would you like more information on gold trading?
OANDA:XAUUSDShort
by kripsonfx97
2
Gold: Prices renew all-time high under $2,600, but expect bumpsGold prices hit a fresh record high around $2,570 early Friday as it extends the previous day’s upside break of a three-week-old resistance, now support around $2,525. This rise is fueled by increasing expectations of significant rate cuts from the US Federal Reserve and a push against a rising trend line from mid-July. A bumpy road for the bulls ahead… Despite the Fed's rate cut hopes supporting gold, an eight-week resistance line and an overbought RSI (Relative Strength Index) suggest a possible price pullback. Additionally, a potential bounce in the US Dollar, especially with upcoming reports on consumer sentiment and inflation expectations, might give gold buyers a temporary pause. Nevertheless, the breakout above resistance and bullish MACD signals keep the buyers optimistic. Technical levels to watch… To continue climbing, gold prices need to break above a two-month resistance line around $2,570. If successful, gold could quickly reach the 61.8% Fibonacci Extension (FE) level of the bullion’s late July to early September moves near $2,581 and then target $2,600. If gold surpasses $2,600, it could aim for the 78.6% and 100% FE levels around $2,610 and $2,650, respectively. If prices pull back, they might first test the 50% and 38.2% FE levels near $2,560 and $2,540. A key support level at $2,525 could also come into play. If gold drops below $2,525, it might struggle to hold above $2,500 and $2,470, making those levels significant for potential declines. What next? Gold buyers are expected to remain strong, thanks to anticipated rate cuts from major central banks like the Fed. However, there might be a temporary dip in prices before the next rally.
OANDA:XAUUSD
by MTradingGlobal
Gold Hits 2,570 USD Peak, Support at 2,521 USDGold is currently trading around its all-time high near 2,570 USD after a strong rally fueled by rising expectations of a significant Fed rate cut. The 34 and 89 EMA lines show that the upward trend is still intact, though a short-term correction is possible. Key support levels lie at 2,501 USD and 2,521 USD, where investors may find buying opportunities. Gold could rise to the 1.618 level, where it will face psychological resistance before continuing upward towards the next target at 2.618.
OANDA:XAUUSDLong
by Romio_pro
4
Gold Prices May Rise Due to Lower CPI, Support Near 2,500 USDTTonight, the CPI data will be released and is expected to be lower than the previous reading, which could lead to a significant rise in gold prices. The chart shows gold in a short-term uptrend, with prices breaking above the 20 SMA and other moving averages, reinforcing short-term buy signals. Bollinger Bands are expanding, indicating increased market volatility, and the price is moving within the upper band, showing strong buying pressure. The RSI at 63.57 signals a rising market, but it's approaching the overbought zone. If the RSI exceeds 70, it may suggest a short-term correction. Given the current trend, the recommended strategy is to buy when the price pulls back to the key support level around 2,500 USDT. The potential target for the next price increase is 2,545 USDT.
OANDA:XAUUSDLong
by Romio_pro
1
XAUUSD: Breaking the Resistance Zone!Gold prices are currently fluctuating within a clear resistance and support range. At present, the price is positioned between the 34 EMA and 89 EMA, indicating a tug-of-war in the trend. The 34 EMA and 89 EMA are converging, signaling a potential trend breakout as the price moves out of this range. The key resistance level is around 2,525, a zone where prices have previously been rejected, indicating strong selling pressure. There are two main support levels: one near 2,470 (Support 1) and another closer at 2,489 (Support 2). The price has tested Support 2 once and is showing signs of retesting it. If the price holds above the 2,489 support level and shows signs of a rebound, it may retest the resistance zone at 2,523.48. If this level is breached, the next target could be 2,538.21. Trading Strategy: Wait for clear signals from price action as it reaches the critical resistance and support zones. If the price breaks out of these zones, consider trading in the direction of the new trend.
OANDA:XAUUSDLong
by Romio_pro
#GOLD XAUUSD Analysis on(12/09/2024)#XAUUSD UPDATEDE Current price - 2517 If price stay above 2500,then next target 2530,2540 and below that 2484 Plan1;If price break 2515-2510 area,and stay above 2515,we will placed buy order in gold with target of 2530and 2540 & stop loss should be placed at 2500 Plan2;If price break 2500-2496 area,and stay below 2495,we will placed sell order in gold with target of 2484and 2470 & stop loss should be placed at 2509 Trading tips :(Accuracy 80%)
SAXO:XAUUSD
by karthifx17
2
Gold XAUUSD sell on rise SL 2533 Target 2495,2480,2456 final TgtDisclaimer - 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
2
XAUUSD Awaits Break of $2,530 Resistance Under CPI PressureXAUUSD is in a mild uptrend, trading around $2,517 with a key resistance level at $2,530. If the price breaks above this level, the uptrend could continue. However, failure to breach it may lead to a correction toward the $2,501 support level. The EMA 34 and EMA 89 are still supporting the current uptrend, but if the price falls below them, a downtrend might resume. U.S. economic news, especially the CPI report, will heavily impact gold prices, as a higher-than-expected inflation rate could strengthen the USD, putting downward pressure on XAUUSD.
OANDA:XAUUSDLong
by Romio_pro
XAUUSD - Identifying the Bias of Reaction Zones/LinesThis is how I determine the trend when the price reacts at a reaction zone or line. I look at the nearest adjacent waves to see how the price behaves when it touches that zone. Sometimes, a line or zone may have both biases, but there are also zones with only one clear bias. The plan was to take profit and then sell, but it seems the reaction in this zone was too strong, and the price moved quickly, leaving no time to enter the trade. The Chartist
OANDA:XAUUSD
by TheChartist_Code2trade