Gold Outlookcurrent week was almost a bullish week for Gold and we have seen New ATH (All time High) it was a situation gold was breaking its own Records Hour by Hour...
for next week we are expecting gold to see a new peak of 2725 to 2734 and the a Retracement for the previous ATH then new Highs can be seen as far the confluences are concerned we have Fibonacci extension of previous high to low move over the price discussed above also 50 SMA from Monthly to weekly to daily to H4 to H1 is the confluence for price remaining above and can see new high as we always mention trend is our friend so we are bullish with our higher TF trends
Goldprediction
Gold prices are about to usher in huge trading opportunities
Today our fast trading strategy sold from high and bought from low. All of them generated different profits. I believe that the members who followed the fast trading strategy have gained something. Just like I told them. Although the chance of making money from trading is high. But you need to take action. If you don't take action. Then the chance for you is 0. The trading opportunity of the New York market is about to come out. If you don't want to miss the trading opportunity of the fast trading strategy group. Stay tuned.
GOLD 4H CHART ROUTE MAP UPDATEHey Everyone,
Another amazing finish to the week with all our chart ideas playing out, as analysed.
This chart was posted last Sunday with two open targets, bearish and bullish. Both targets were hit followed with no cross and lock below the bearish target. This confirmed the rejection and provided the support for the bull run, inline with our plans to buy dips.
We got the ema5 lock above 2669 opening 2693, which was hit perfectly followed by ema5 lock above 2693, opening 2715, which was also hit today completing this target.
We traded the move up all week from every dip, using our levels, banking clean safe pips. However, just today we stayed out, observing the movement, as did not want to chase the momentum unless we got a dip.
BULLISH TARGET
2669 - DONE
EMA5 CROSS AND LOCK ABOVE 2669 WILL OPEN THE FOLLOWING BULLISH TARGET
2693 - DONE
EMA5 CROSS AND LOCK ABOVE 2693 WILL OPEN THE FOLLOWING BULLISH TARGET
2715 - DONE
POTENTIALLY 2737
BEARISH TARGETS
2640 - DONE
EMA5 CROSS AND LOCK BELOW 2640 WILL OPEN THE RETRACEMENT RANGE - NO LOCK
RETRACEMENT RANGE
2611
EMA5 CROSS AND LOCK BELOW 2611 WILL OPEN THE SWING RANGE
SWING RANGE
2584 - 2564
We will now come back Sunday with our updated Multi time-frame analysis, Gold route map and trading plans for the week ahead.
Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
XAUUSD: Don’t chase the rise, beware of the pullbackAs expected, gold broke through above 2700 points, reaching a new all-time high of 2714, which coincides with our bullish direction during this period.
Unfortunately, the price of gold started to rise every time without falling back to the support level, so I missed the rise the day before yesterday and yesterday.
Although I missed the profit of this wave of rise, I don’t regret it. The direction and strategy are correct, but the correction of the gold price did not reach my predetermined target.
Today I will still resolutely implement my strategy. If it does not pull back to the support position, I will definitely not chase the rise.
The higher the price is, the more cautious it should be, because once the correction starts, the decline will be very large.
Therefore, don't be carried away by the rising enthusiasm. As Buffett said, I am afraid when others are greedy.
Back to the topic, from the combination of the current rise in gold prices and the previous history, I believe that the high point of this rise will be near the 2715-2720 area, so there is not much space above, so don’t blindly chase the rise.
But looking at the general direction, I think the rise in gold prices is not over yet, and it needs to retrace before it can continue to rise.
For the lower support, we can refer to the two previous highs of 2695-2685
Among them, 2685 is the 0.382 position of the Fibonacci retracement of this rise. If it falls below 2685, the amplitude of the retracement will increase.
Combining the above information, I think it is possible to short in the 2715-2720 area and long in the 2695-2685 area today.
To prevent accidents, if these two areas are effectively broken, this view can be overturned.
The 10.18 rally is not over yet and the highs will continue to bThe highest intraday rise was around 2714, and the new high was constantly being refreshed. Since the rise on Tuesday this week, the hourly line has basically rarely shown a negative line, and more of it has continued to close positively, and the overall rhythm is strong. After the morning rise, it turned negative and retreated after the afternoon trading. It was only two consecutive negative lines without much room to go down, so the US market continued to be bullish and continued to break highs!
Below we will analyze the real data behind the recent economic data released by the United States, the European interest rate cut, and the impact of various factors such as the "Trump deal" on gold:
First, the data released overnight showed that US retail sales increased by 0.4% month-on-month in September, higher than the expected value of 0.3% and the previous value of 0.1%; the year-on-year growth rate dropped to 1.7%, the lowest level since January. The US Census Bureau made the largest seasonal adjustment to this month's retail data in history. If the seasonal adjustment factor is excluded, retail sales in September actually fell by 7.5% month-on-month.
Therefore, the data does not necessarily indicate an economic recovery. Even if the US dollar and gold have strengthened recently, it is based on risk aversion factors. In addition, some data values released by the United States recently are greater than market expectations, which means that the US economy is not as bad as everyone thinks. However, after excluding some beautiful data, such as: child care is becoming increasingly unaffordable, the system is difficult to operate, high medical costs and energy prices, etc., the market environment still has downside risks.
Secondly, the European economy is under pressure. The central bank has recently cut interest rates, and the euro has continued to fall, boosting the trend of the US dollar; at the same time, the widespread economic weakness also has a risk-averse effect on gold.
Third, as we mentioned earlier, as the US election approaches, traders are gradually pricing in election risks, and there are signs that Harris, who had previously been strong, has been overtaken by Trump. The "Trump deal" has regained its previous popularity, and risky assets have been boosted.
Finally, from the perspective of gold technical patterns:
First, the stronger the market, the shorter the time for retracement correction, the smaller the retracement space, and the fewer times the negative lines appear. Since the price of gold started to rise from 2641 on Tuesday this week, especially from the 4-hour line, there have been callback K-line patterns in the process of continuous pull-up, but they are all single negative, and the entity is very small, and then continue to turn positive and rise; this is the recent trend of the strong pattern of gold prices.
Secondly, from the rhythm of intraday operation, there was a horizontal correction in the morning, and then it rose directly. There were two consecutive negative corrections in the European session. The support near 2702 is the support position of the lower trend line, and it has not even reached the high point of 2696.50 in the US session last night, so don't wait for too low positions in operation.
Thinking planning for the US session:
Due to the strong market trend, there are no excessive corrections and adjustments, and the strong rhythm of the day, the upper space is expected to continue to be released in the evening, so sideways or retracement is an opportunity to go long. The lower support is 2702. Even if it retraces again in the evening, it will continue to rely on this bullish trend. The upper resistance is around 2722 and 2730.
BUY: 2710 Target 2730
Gold is in the Bearish Direction after Formation ManipulationHello Traders
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XAUUSD Market Dynamics: Strategy AnalysisToday, XAUUSD (Gold/US Dollar) exhibited a robust upward momentum, successfully breaking through the upper trend line. From a candlestick technical analysis perspective, XAUUSD still possesses upward momentum and a continuing bullish trend. Additionally, the uncertainties surrounding the U.S. presidential election and conflicts in the Middle East are driving investors to seek safe-haven assets. Coupled with a loose monetary policy environment, this will further support gold prices at elevated levels.
Following the Federal Reserve's decision to cut rates by 50 basis points last month, the market anticipates the potential for further rate cuts. The ongoing geopolitical uncertainties have collectively propelled gold prices up over 30% year-to-date, with the possibility of reaching new historical highs. Therefore, under the current market conditions, we recommend a proactive approach to building long positions at lower levels.
Today's Trading Strategy: Establish long positions in XAUUSD around the 2700 level, with a profit target set at 2710.
The fast trading strategy makes a big profit againDear friends, under the guidance of our rapid trading strategy, are you aligning with my recommendations? Many have successfully generated profits, and the bullish momentum remains robust. Following the buy-in range of 2702-2698 has proven fruitful, as the upward trend continues to perform well.
This highlights the advantages of a swift trading strategy. I will continue to share upcoming trading plans, so stay tuned for more updates!
OANDA:XAUUSD
Gold: The End of the Bull Run or Just a Pause?After reaching an all-time high of 2685, the price has experienced a decline.
Currently, the price is moving within an ascending parallel channel.
Key Levels to Watch:
$2680 - This level is currently serving as an immediate resistance. A new rally is expected following a successful breach of this threshold.
$2530 - Previously a resistance level, this now functions as support. A drop below this point could lead to a more substantial decline.
Within this 150-point range, the price seems to be showing significant volatility.
Gold hits new high, but has not yet reached its peakIn the unilateral rise of the 4-hour chart of gold with the middle track of the Bollinger Band as the critical point of the bulls, this forced short-selling slow rise will continue before the high-rise falls back and loses the middle track. The correction indicator sets a new high. The short-term Asian and European sessions are still dominated by low-long intraday, and the US session combines the pattern to reverse after the high. The rise is a setback. The key to high-altitude low-long is the entry point. At present, the rising trend line and the support of the middle track overlap at 2670-2675. It is also the low point of the retracement last night. This position is today's defense point. The Asian session retreats to 2683-2680 and first defends 2672. The target is 2700-2705. After the high, combine the hourly chart pattern to close the bag in time.
From a technical perspective, the overall technical advantage of gold bulls in December is strong in the near future. The next upward price target for bulls is to make its closing price above the important resistance level of $2,750. The next near-term downside price objective for the bears is pushing futures prices below important technical support at the October low of $2,648.90. First resistance is seen at today's all-time high of $2,712.70 and then at $2,725.00. First support is seen at today's low of $2,688.20 and then at Wednesday's low of $2,674.90.
Gold Prices Surge: A Golden Opportunity for Investors
After a week of tug-of-war between bulls and bears, bullish forces have clearly outmatched bearish ones. Currently, after reaching a new high, gold prices have stabilized at the level of 2692.
The ongoing geopolitical tensions show a certain degree of persistence. As a highly sought-after safe-haven asset, the rise in gold prices is merely a matter of time.
After several hours of sideways consolidation, the gold market presents a new trading opportunity. Buying now is akin to picking up money; you just need to bend down.
Recommended buying levels for gold are between 2690 and 2685, with a take profit target above 2703 and a stop loss at 2675.
Investors interested in trading gold may find this information helpful.
Gold Price Analysis October 18Fundamental Analysis
Gold prices rose above $2,700, hitting a fresh record high on Friday amid expectations of interest rate cuts and an easing monetary policy environment from major central banks. Moreover, persistent geopolitical risks stemming from ongoing conflicts in the Middle East, coupled with uncertainty surrounding the US presidential election, appeared to be boosting demand for the safe-haven precious metal.
The supportive factors have, to a large extent, offset the recent rally in the US Dollar (USD) to its highest since August, bolstered by growing acceptance that the Federal Reserve (Fed) will proceed with a modest rate cut. A stronger dollar tends to dampen demand for USD-denominated commodities, including Gold, which is still on track to post strong weekly gains and looks set to rise further.
Technical Analysis
Good morning traders. Gold continues to be at an all-time high. It is quite difficult to determine where the SELL zone is at the moment. We can only Scalp at the psychological port areas around 2720-2730. The important BUY zone is more clearly considered at
2675-2673. Before that, we cannot ignore the 2685 zone, the temporary all-time high for more than a month. Wish you a successful trading day
GOLD DAILY UPDATESfast track wednesday, last night made 70-80pips almost? then this idea is a sell again. maybe
the manipulation happens tomorrow or friday. to clear only the previous high?
confirm only once 30minutes wicked candle body is below the previous high
, this is just my observation base on distribution, so this thursday we have a new
s. probably the GOLD react for manipulation.
This is not a financial advice. this idea is for distribution.
Follow for more. Daily charts might happen if awake. lol
Thanks for always following me.. trade wisely. trade at your own risk. trade at your own understanding dont just follow, understand it.if this idea suits you then observe the market, ask yourself is this a good trade to take a risk?
Gold is non-predictable price. we anticipate only fast once we know it. take it or leave it.
GOLD - where is support now? Holds or not??#GOLD.. perfect move as per our video analysis and now market have again 2672 around as today supporting area
Keep close that level because if market hold it then in that case you can see further bounce.
Upsides areas area 2686, 2692, 2698 n 2706.
Good luck
Trade wisely
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone,
Once again we delivered the GOLD!!!!
Yesterday we waited for ema5 cross and lock above 2672 to open 2682, as the final target and 2690, as a potential should momentum allow. We got the cross and lock above 2672 followed with 2682 target hit.
We then advised that we are now looking for support above 2663 and 2672 for another retest on the Goldturn levels above. We got the support wick rejection above 2672 and then followed with the re-test above like we suggested, also finishing off with the last target of this chart idea at 2690 - BOOOOOM!!!!
We will now move onto our 4H chart idea for the remainder of the week or if price comes back into the 1h chart range, then we can continue to use the levels to track and trade the movement again.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2663 - DONE
EMA5 CROSS AND LOCK ABOVE 2663 WILL OPEN THE FOLLOWING BULLISH TARGET
2672 - DONE
EMA5 CROSS AND LOCK ABOVE 2672 WILL OPEN THE FOLLOWING BULLISH TARGET
2682- DONE
POTENTIALLY 2690 - DONE
BEARISH TARGETS
2654 - DONE
EMA5 CROSS AND LOCK BELOW 2654 WILL OPEN THE FOLLOWING BEARISH TARGET
BEARISH TARGET
2646 - DONE
EMA5 CROSS AND LOCK BELOW 2646 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2638 (DONE) - 2628
EMA5 CROSS AND LOCK BELOW 2628 WILL OPEN THE SWING RANGE
SWING RANGE
2618 - 2608
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
Clear gold buying price
As mentioned yesterday, the upward trajectory of gold necessitates certain catalysts. Today, the influence of geopolitical factors has intensified, propelling gold to a peak of 2688. Concurrently, the latest U.S. initial jobless claims data was released, yielding a bearish impact that temporarily reduced gold prices to 2673, before a swift rebound brought them back to 2680.
With the two primary news items now available, it's evident that bullish sentiment significantly outweighs bearish pressure, with substantial upside potential awaiting a breakout. The sustained appreciation of the U.S. dollar amidst geopolitical tensions further underscores the dual role of both gold and the dollar as safe-haven assets. Thus, until the geopolitical landscape stabilizes, a low-position buying strategy for gold remains prudent.
Buy: 2670-2675
Sell: 2700
Profit margins should be managed according to individual risk tolerance.
Seize the Opportunity and Preemptively Position for ShortsShortly, the U.S. will release the initial jobless claims data and September retail sales month-over-month figures. Prior to the announcement, I personally predict these data points are likely to be bearish for XAUUSD, making it a good opportunity to preemptively position for shorts, suggesting a short entry around 2690 while awaiting the data release.
XAUUSD Trading Strategy:
Short at the high of 2688, with a take-profit target set at 2670.
XAUUSD: Continue to be bullish, buy during pullback, target 2700Yesterday, our strategy was to wait for a pullback to the support range before buying. The direction and prediction were very accurate. The gold price pulled back from the initial 2680, the lowest was 2666, and then rose again to the historical high of 2685. Unfortunately, the lowest point of the pullback only reached 2666, which was only 1-2$ away from our buying range of 2665-2660. Therefore, I did not trade yesterday and missed a wave of nearly 20$ of rising profits.
Now the gold price is still around 2680, and my view is still bullish, with a target of 2700.
But there is indeed a risk of pullback if you chase the rise now. After all, the historical high of 2685 has failed to break twice, and you are not sure whether it will appear for the third time.
Therefore, my trading strategy today is still to wait for the pullback to the support range before considering buying.
Depending on the situation, the buying range can be adjusted flexibly.
Gold approaches historical highs, U.S. economic data becomes keyThe previous entity of the 4-hour cycle has been broken, and the gold price has been rising step by step, with new highs constantly, and it is necessary to take the previous high point in one round. The 4-hour operation is maintained above the moving average, and the trend is very healthy. In addition, from a structural point of view, the gold price first fell to the 2610 line, so the later stage is to break through the previous high, which is structurally a case of breaking without building.
The daily line is still under double top suppression. If it falls under pressure, the double top pattern will gradually show its power, and gold will slowly weaken. Of course, there are data today. If gold directly breaks through the historical high, then gold will continue to rise. If it breaks through the historical high, then the decline will follow the trend and go long. If it does not break the historical high, then gold will continue to be short at highs below 2685 in the short term
1. The morning rise continues to test the 2685 high point without breaking, forming a morning force.
2. The current retracement, the watershed yesterday morning low of 2667, is also the stop loss position for long orders
3. The trend of the morning power is very important in the European session. It has been emphasized before that the earlier the European session breaks through, the greater the upward momentum. In addition, the more times the top is tested, the greater the probability of breaking, so if it goes up, it will break the high.
At the same time, if this pattern continues to be long, we must pay attention to the European session. The price cannot go down the watershed. If it breaks, it will be volatile.
Therefore, with the help of retracement, continue to be long, break the watershed loss, the upper target is 2688-90, break the European session, and the US session will look at the 2700 mark
XAUUSDHere is our view and update on XAUUSD . Potential long opportunity.
As per our last adaptive analysis, XAUUSD continued to the upside. We now had a beautiful break and a retest of our PBA 1 (Pullback Area). We should see more upside .
In detail,
We broke our PBA 1 area at 2640-2644 and made a nice retest . The price is staying above those price levels which gives us a good sign that we will continue to the upside . Our entry is sitting at 2655 and our TP (Take Profit) is sitting at the current ATH (All Time High) at 2685.640 . Our SL is below our PBA 1 sitting at 2637.800 as if we break below it, we should see more downside moves.
PARAMETERS
- Entry: 2655
- SL: 2637.800
- TP: 2685.640
KEY NOTES
- XAUUSD broke and retested our PBA 1.
- XAUUSD is trading above our PBA 1.
- Break below our PBA 1 could result in more downside.
Happy trading!
FxPocket
XAUUSD 30 MINUTE TIME FRAME CHART XAUUSD, 30-minute timeframe chart
XAUUSD retested the resistance level of 2,683.00
General outlook
XAUUSD has been under buying pressure within the last day. The pair moved up to the resistance level of 2,683.00.
Possible scenario
The best way to use this opportunity is to place a sell limit order at 2,683.30.
Set your stop loss at 2,688.30 below the previous low ($6.00 loss for 0.01 lot) and take profit at 2,667.30 ($16.00 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1 .
OANDA:XAUUSD OANDA:XAUUSD
Navigating Market Volatility: Strategies for Gold Trading
In the New York market, profits from short positions near the recent high of $2,680 have been realized on two occasions. Similarly, profits from low buy orders have been observed. Currently, we find ourselves near the $2,675 level, where I have paused trading. Upon market opening, I anticipate a certain degree of downward movement, providing opportunities for gold price recovery. As mentioned previously, breaking through the recent highs requires greater momentum. Until this momentum materializes, I suggest maintaining a predominantly short position. Key factors to monitor include geopolitical developments and the release of initial jobless claims data in the U.S. this week, as well as any potential black swan events.
Sell: $2,680 - $2,685
Buy: $2,660 - $2,665
Profit margins should be managed at your discretion.
CAPITALCOM:GOLD OANDA:XAUUSD