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2X $GOLD 1D Tech. Analysis!GOLD has been bearish since March '22, we will continue to catch and follow the trend! I am heavily bearish if price breaks through the 1680 area! Price came and retested the order block @1725 area we will play a 1:4 RR down to TP1 & a 1:7 RR setup heading to TP2! IF price breaks above support, it is most likely headed to the top trendline due to the double bottom reversal around the current area (Not likely). Be patient, wait for confirmation and LOCK IN PROFIT!
GShort
by twotimezinvestments
GOLD (XAUUSD): Key Levels to Watch Next Week 🥇 Hey traders, As I predicted, Gold bounced yesterday. The market almost reached a daily supply area. Here are the key levels for you to watch next week: Resistance 1: 1720 - 1730 area Resistance 2: 1758 - 1765 area Support 1: 1681 - 1688 area Consider these structure for pullback / breakout trading. I will look for shorting opportunities from Resistance 1 expecting a bearish move to Support 1. I will post an update once I spot a confirmation! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
9
GOLD (XAUUSD): Important Structure Ahead! 🥇 As I predicted earlier, Gold dropped nicely. The market is currently approaching a solid confluence zone: we see a perfect match between a current daily low and a falling trend line. From the underlined blue zone, I will expect a pullback. Analyzing the price action on 4H, I spotted a falling wedge pattern. While the price is trading within its boundaries, the market remains bearish. Its bullish breakout will most likely trigger a correctional movement. I will keep you posted. Do you want me to record a detailed video for Gold on the weekend? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
15
Gold analysis: Double bottom and bullish RSI divergence formingGold has fallen 2.1% in the last week, and it is now trading at its lowest level since July 21st, when it set the year's low of $1,680/oz. Looking at the technical patterns, it appears that a double bottom is forming, as $1,680 is now only 1.5% below current prices. A significant trend reversal could occur if this double bottom in prices is accompanied by a bullish RSI divergence, with the indicator failing to update new lows. Similarly, in August 2021, gold prices formed a double bottom along with a bullish RSI divergence, paving the way for a multi-month uptrend to March 2022's peaks. To see a reversal of gold's bearish trend, either the Fed must stop raising interest rates (unlikely) or markets must lose confidence in the Fed's ability to control inflation in the near future. Gold, unlike the US dollar, has not been a successful inflation hedge so far in 2022. The bullion has lost 4.5% since the beginning of the year, while the US dollar index ( DXY ) has appreciated by 13%. In practise, market participants have had some confidence that the Federal Reserve will be able to restore inflation to target. But what if inflation continued to soar despite interest rate increases? Fiat currencies like the US dollar would be an asset with negative real returns if the market started to believe that despite rising interest rates, inflation will continue to be much higher than anticipated unless the economy experiences a severe downturn. In that case, large investors' attention may shift back to gold, which has historically protected against the risk of inflation expectations becoming unanchored. Inflation expectations seem to have bottomed out in July, and they have been on the rise over the past few weeks despite rising expectations for higher interest rates, as evidenced in the 5-year and 10-year US breakeven rates . This move is telling us that the market is beginning to factor in the likelihood that inflation will remain above the 2% target for the next five or ten years. Further increases in inflation expectations during periods when the Fed raises policy rates are a warning sign that inflation expectations are becoming unanchored and the market is starting to lose faith in central banks' ability to control inflation. Further increases in inflation expectations during Fed rate hikes are a warning sign that inflation expectations are becoming unanchored and the market is losing faith in central banks' ability to control inflation. Crossing this Rubicon would lead to a new bull trend in gold's price. Idea written by Piero Cingari, forex and commodity analyst at Capital.com
TVC:GOLD
by Capitalcom
1