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Sideway price zone - accumulation for Gold✍️ NOVA hello everyone, Let's comment on gold price next week from 6/17 - 6/21/2024 🔥 World situation: Gold's price surged during the North American session on Friday due to increased hopes of the Federal Reserve cutting interest rates later this year. The rise in inflation data in the United States contributed to this sentiment. Additionally, political uncertainty in Europe led to risk aversion and a flight to safety, which boosted the value of gold. The XAU/USD is currently trading at $2,333, representing a gain of more than 1.30% after rebounding from daily lows of $2,301. Despite lingering pessimism, US equities saw some recovery in the last hour of trading, with the Nasdaq up 0.28%. The S&P 500 also trimmed its earlier losses and is nearly flat on the day at -0.10%. 🔥 Identify: Gold price continues to be stuck in two trendline boundaries, the large disputed price range is 2300 - 2357. Temporarily, the price continues to sideways and accumulates next week. 🔥 Technically: Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows: Resistance: $2357, $2388, $2440 Support : $2306, $2278, $2230 🔥 NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
2
Continuing DOWN trend !! XAU decrease⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices (XAU/USD) rose for the third consecutive day, reaching a weekly high of around $2,341-2,342 due to weaker US consumer inflation figures. However, the momentum slowed down near the 50-day Simple Moving Average (SMA) resistance after the Federal Reserve's unexpected hawkish stance. The Fed now expects only one rate cut in 2024, compared to the three previously projected in March. This is likely to put further downward pressure on gold during Thursday's Asian session. ⭐️ Personal comments NOVA: Gold price shows that selling pressure is dominating in the short-term H1 session. The economic data this week is not enough to help the price of Gold increase - the most important thing is still the information that the FED's interest rates will be kept unchanged, causing the price of Gold to continue to decline. ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2270 - $2268 SL $2263 TP1: $2280 TP2: $2290 TP3: $2300 🔥SELL GOLD zone: $2319 - $2321 SL $2326 TP1: $2310 TP2: $2300 TP3: $2290 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
9
PPI - Will data cause Gold prices to fall next?⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices (XAU/USD) rose for the third consecutive day, reaching a weekly high of around $2,341-2,342 due to weaker US consumer inflation figures. However, the momentum slowed down near the 50-day Simple Moving Average (SMA) resistance after the Federal Reserve's unexpected hawkish stance. The Fed now expects only one rate cut in 2024, compared to the three previously projected in March. This is likely to put further downward pressure on gold during Thursday's Asian session. ⭐️ Personal comments NOVA: After yesterday's data on keeping the FED's interest rates unchanged, it is expected that the Gold price is still in a DOWN cycle. Watch for more data during the week to identify trends ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2280 - $2282 SL $2275 TP1: $2290 TP2: $2300 TP3: $2310 🔥SELL GOLD zone: $2336 - $2338 SL $2343 TP1: $2328 TP2: $2315 TP3: $2300 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
1
recovery to the DOWN trend ! retest XAU ⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold price (XAU/USD) fell during the Asian session on Tuesday due to a fresh supply. This decline comes after a slight recovery from a one-month low caused by positive US jobs data. The decrease in bets for an interest rate cut by the Federal Reserve (Fed) in September has kept US Treasury bond yields high, strengthening the US Dollar (USD) and reducing demand for gold. Additionally, the People's Bank of China (PBoC) has significantly decreased its gold buying activities in May, ending a year-long buying spree. Despite this, political uncertainty in Europe and geopolitical risks could prevent further losses. Traders are advised to monitor the release of the latest US consumer inflation figures and the FOMC decision on Wednesday. ⭐️ Personal comments NOVA: Short-term recovery at the beginning of the week - retesting the resistance zone. Sideway waiting for important FOMC information ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2270 - $2268 SL $2263 TP1: $2278 TP2: $2284 TP3: $2292 🔥SELL GOLD zone: $2320 - $2322 SL $2325 scalping TP1: $2315 TP2: $2308 TP3: $2300 🔥SELL GOLD zone: $2338 - $2340 SL $2345 TP1: $2330 TP2: $2320 TP3: $2310 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
6
GBPJPY still gives bearish sentiment$$$Took a short yesterday that went according my analysis. After a retracement and doing further analysis my bias is still leaning heavily towards the downside. The monthly nor has the weekly high been breach to make a new higher high. Right now, i'm looking at a rejection on the 4hr and 1hr timeframes that looks to be hitting resistance inside of a fair value gap. My intentions is to dropdown into a lower time frame and look for an entry to short the market. The Asian and London highs has been breached absorbing liquidity in the form of buystops. After a low or high is taken price usually runs up about 20-30 pips more before making a correction or trend reversal. Everyone have a safe and productive trading week!!!
Short
by DTradesFX2
Bad news coming to Gold - price DOWN✍️ NOVA hello everyone, Let's comment on gold price next week from 6/10 - 6/14/2024 🔥 World situation: Gold prices dropped to a four-week low due to strong US labor market and China's halt in gold purchases. XAU/USD traded at $2,295, resulting in a more than 3% decrease. The latest US Nonfarm Payrolls report showed an increase in workforce but also an uptick in the Unemployment Rate and slight rise in Average Hourly Earnings. 🔥 Identify: Gold prices had a sudden drop at the weekend, negative news that China's central bank stopped gold reserves brought negative psychology to investors. Currently, the price is breaking through many support zones, so priority will be given to the DOWN trend 🔥 Technically: Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows: Resistance: $2335, $2371 Support : $2278, $2260, $2210 🔥 NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
1
UPL: A Textbook Short setupHere are some guidelines for determining the next steps regarding UPL: Consolidation: UPL has experienced a period of consolidation for over two years, forming a symmetric triangle pattern. Breakdown and Retest: There was a breakdown from the triangle pattern, followed by a retest, which resulted in a continued downward movement until reaching a 52-week low. Short Opportunity: The chart pattern of UPL presents a classic setup for a short trade. Immediate Support: There is an immediate support zone approximately 5% below the current market price (CMP), which could potentially come into play. Stronger Support: If the immediate support level fails to hold, the next significant support level is located around 20% below the CMP. PE Ratio Range: Throughout the observed range, the price-to-earnings (PE) ratio of UPL has fluctuated between 22 and 13 If it helped, Do Leave us a boost 🚀. What is your take on it? Feel free to comment. Disclaimer: We are not registered advisors. The views expressed here are solely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
NSE:UPLShort
by TheChartereds
ADP - NF has a negative impact on Gold?⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold price (XAU/USD) came under renewed selling pressure on Tuesday and dropped to the $2,316-2,315 area, back closer to a multi-week low touched the previous day in the wake of a modest US Dollar (USD) strength. The attempted USD recovery from over a two-month low, however, lacked follow-through on the back of growing acceptance that the Federal Reserve (Fed) will start cutting interest rates later this year, bolstered by softer US macro data. The expectations keep the US Treasury bond yields depressed, which, in turn, is seen benefitting the non-yielding yellow metal during the Asian session on Wednesday. ⭐️ Personal comments NOVA: Gold price continues to dispute the price range 2320-2340, still moving within the 2 H1 trend lines. Wait for BREAK points for upcoming trends ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2305 - $2307 SL $2300 TP1: $2312 TP2: $2320 TP3: $2330 🔥SELL GOLD zone: $2348 - $2350 SL $2355 TP1: $2340 TP2: $2330 TP3: $2320 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
3
BEAMUSDT | SWING TRADE (FALSE BREAK)Yesterday, BEAMUSDT saw the bulls making a bold attempt to break the 8H high with impressive volume, only to face a swift rejection on the second candle—classic false break! Using my trusted false breakout strategy, I set my order at the previous 8H high with a 1.5 ATR, targeting the 4H low. With the weekend approaching and volume likely to dip, it's a thrilling setup to watch. Will the trade hit the target or hold steady in the low-volume weekend? Stay tuned for the outcome!
Short
by minno91
1