Gold may further fall after some consolidation
Gold is sideways
Gold may fall further
Following week may fall completing (w) wave with c subwave
XAUUSDG trade ideas
GOLD FEW UPSIDE Last week we predicted that Gold will touch 2356$ on lower side & 2439$ higher side. It actually touched 2353$ on lower side and 2432$ on higher side.
Our Spot #Gold Range Prediction from 29/07/2024 to 02/08/2024 is as under.
Next week can be highly volatile due to contract expiry.
Gold Spot : 2355$-2451$
Gold INR : 67400-70150
Our Spot #Silver Range prediction from 29/07/2024 to 02/08/2024 is as under.
Silver Spot: 27.55$-29.44$
Silver INR: 80200-85600
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.
XAUUSD BUY & SELL PROJECTION 27.02.24Buy Reason
The allure of non-yielding bullion tends to increase when interest rates are lowered because the opportunity cost of holding gold decreases. Investor sentiment has played a significant role in the recent spike in gold prices. The current market positioning reflects a strong bullish outlook on gold.
Sell Reason
The reasons why gold prices may experience a fall in value include an excess of supply relative to demand and shifts in investor sentiment. A strong dollar and rising interest rates can also hurt the price of gold, as can low inflation.
Gold Bullish Flag Pattern Breakout - Final Target $2458/oz Gold broke out of Bullish flag pattern and going for new targets. First target is 2075 and final target is 2458.
These are long term monthly targets.
Gold Buy Given near 2360 , good profit running 2395,2419 Target 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
XAUUSD 7/26/2024 Is there a pullback?
Looking at H1, we see that the price breaking the 2382.5 zone has confirmed that the price is in the purple wave C
- From the peak of 2433 to the bottom of 2353, we see a small 5-wave structure has been completed and now we see that the bullish recovery wave is continuing, we expect a corrective wave
- The target of the rebound wave I measured at the price zone of 2402 and the price zone of 2411
- So this increase we expect is a rebound wave before the bearish wave continues to the target zone of the purple wave C
- The target of the purple wave C we measured at the zone of 2334 and the zone of 2307
Trading plan
BUY ZONE: 2366 - 2363
SL: 2356
TP1: 2382
TP2: 2394
TP3: 2402
SELL ZONE: 2310 - 2312
SL: 2320 TP1: 2400 TP2: 2390 TP3: 2382
GOLD SHOING A GOOD UP MOVE WITH 1:10 RISK REWARD GOLD SHOING A GOOD UP MOVE WITH 1:10 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
niw it trying to break the strong resistant lable
B. after the break of this rectangle it will bost 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 capital
follow risk reward and tradeing rules
that will help you to to become a better trader
thank you
XAUUSD IDEATechnically, if we pay attention to the D1 chart, gold is testing a conglomeration of strong support: False break of MA-200 + trendline support, as well as bounce from 2350-2355 support level, which means the approximate area of intermediate bottom of the ranyke and forms a global range of 2485 - 2350. But, the fight for 2350 is not over yet.
Resistance levels: 2377, 2392
Support levels: 2370, 2350,2342
Let me remind you that news is unpredictable. Favorable data will influence the possible bull run, but unpredictable ones may provoke sales and price decline to 2350.
But, at the moment of analysis, technical and fundamental nuances point to a bull market, there is a chance of growth to 2400-2430.
XAUUSD/GOLD Forcast Core PCE Price Index m/mThe Core Personal Consumption Expenditure (PCE) Price Index measures the changes in the price of goods and services purchased by consumers for the purpose of consumption, excluding food and energy. Prices are weighted according to total expenditure per item
Gold majority trend is negative Follow the process , gold is almost trending currency . Current weak trend is negative. 15 M trend positive . But the major 4 H market structure according to sell the gold 2389 to 2395
BUY XAUUSDThere will be a big buy move after the retest. Following the retest, I am looking to buy gold and am waiting for confirmation within a shorter period of time.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice.
GOLD SETUP 26-0-2024Gold plan to trade idea buy above the blue line and sell below blue line and target also mention get east 20-40 pipes so we can plan according the zone .
GOLD TRADE SETUP AHEAD OF CPI & PPI DATAGood morning, fellow traders! Let's dive into the gold market setup for today. 📈
Overall Bias : Buy
- Look for pullback buying opportunities around the price range of 2350-2353.
Short Position :
- Consider shorting only if the price breaks below 2349.
Remember to stay informed and adapt your strategy as the market evolves. Happy trading! 🌟💰
Gold price rebounds from 50-SMA ahead of Fed inflationGold consolidates weekly loss while posting a corrective bounce from the lowest level in 13 days as traders await the US Core PCE Price Index for June, also known as the Fed’s favorite inflation gauge. In doing so, the precious metal takes a U-turn from the 50-SMA but stays on the way to posting a second consecutive weekly loss after refreshing the all-time high during mid-July. Despite the latest rebound in prices, the commodity’s sustained trading below a month-old rising support line, now resistance near $2,428, joins the bearish MACD signals and steady RSI (14) line to keep the sellers hopeful. However, a clear downside break of the 50-SMA level of $2,359 becomes necessary to recall the bullion sellers. Following that, the 100-SMA level of $2,324 and an upward-sloping support line from early May, near the $2,300 threshold, appear as some of the last defenses of the buyers. It’s worth observing that lows marked in May and June around $2,285 and $2,277 will act as additional downside filters for the metal traders to watch during its declines past $2,300.
Meanwhile, the 21-SMA level of $2,388 and the $2,400 threshold guard the immediate upside of the Gold price ahead of the support-turned-resistance line surrounding $2,428. Following that, May’s high of $2,450 and the latest peak surrounding $2,484 could entertain the XAUUSD bulls. However, an upward-sloping trend line resistance from early April, near $2,490 as we write, quickly followed by the $2,500 round figure, appear tough nuts to crack for the bullion buyers.
To sum up, Gold is likely to remain pressured within a trading range established since April. However, the trend line breakdown can join upbeat Fed inflation to please short-term sellers.
XAUUSD 1H SELL PROJECTION 26.07.24Reason for Sell
1. Stochastic Oversold above 80 and ready for Fall
2. RSI 14 Below 50 and bearish Trend in 1H
3.Obey YESTERDAY high and expected for Fall
Gold XAUUSD start accumulating near 2360 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
Gold XAUUSD start accumulating near 2360 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
Gold XAUUSD Analysis on july 25thThere is a good chance that gold continues its bullish trend.
Yesterday it was 300 pips profit, i guess this happens again today/tomorrow.
Today's Analysis can make 500 pips probably and possibly.
#XAUUSD #gold #forex
GOLD NEXT MOVE (Correction continued) (24-07-2024)Go through the analysis carefully, and do trade accordingly.
Anup 'BIAS for the day (24-07-2024)
Current price- 2412
"if Price stay above 2402, then next target is 2422 and 2436 and below that 2390 .
-POSSIBILITY-1
Wait (as geopolitical situation are worsening )
-POSSIBILITY-2
Wait (as geopolitical situation are worsening)
Best of luck
Never risk more than 1% of principal to follow any position.
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Sell more bearishBased onanalysis of supply and demand, the gold price is currently between $2,373 and $2,375. It is predicted to decline, potentially reaching between $2,360 and $2,368, with a more significant drop to around $2,348 considered likely. This analysis suggests a bearish outlook and may be beneficial for those considering selling gold.
Note: this is not a selling suggestion it fundamental view
Gold's Weakening Bullish Momentum: Technical Analysis ExplainedI have been bearish on gold for the past 10 days, primarily due to several reasons, with the main one being the price action on the chart. If you examine the chart, you'll notice a significant pattern: when the price reached its all-time high and then declined, strong buyers quickly pushed the price back to the all-time high within just 20 days. This rapid recovery demonstrated significant buyer strength.
However, the situation changed when the price faced a second rejection. This time, after the price declined, it took about 41 days to return to the same level. This extended period indicates that buyers are now weaker compared to the previous instance, suggesting that sellers are gaining strength. Based on this analysis, I believe that gold is likely to decline to around $2275 soon. After reaching this level, it may experience another bounce and potentially achieve a new all-time high.
Interestingly, a similar pattern can be observed in Bitcoin, which has previously exhibited the same behavior. This reinforces the idea that the current trends in gold may follow a similar path as seen in Bitcoin.
XAUUSD : 07/25/24 first short and than long99% SUCCESSFUL TRADE.
FIRST TRADE:
SELL XAUUSD - profit upto $8USD
SECOND TRADE:
BUY at the bottom where you booked the profit and hold the position for the entire bullish price action.
Do your own analysis before taking a trade.
NOTE:
PRICES HAVE BEEN MARKED FOR YOUR REFERENCE. THIS IS WHAT I ANALYSE. PLEASE DO YOUR OWN ANALYSIS BEFORE TAKING A TRADE.
GOLD SETUP 25-07-2024Gold fall down and it will come retracement and so we plane according this zone and take 30-40 pipes profit with sharp entry
