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Gold Price Explodes Past Key Levels! Is $2500 Next?Trading Idea Breakdown for XAUUSD Chart Overview: Time Frame: 4-hour chart Instrument: Gold Spot (XAUUSD) Key Levels and Zones: Daily LQZ (Liquidity Zone): Level: 2450.370 Significance: Major liquidity area where price is likely to experience significant reactions. 4-hour / LQZ: Level: 2437.909 Significance: Intermediate liquidity zone crucial for intraday trading decisions. 1-hour TP (Take Profit) Zone: Level: 2419.054 Significance: Shorter-term take profit area, potentially indicating minor resistance. Support and Resistance: Key Support Level: Around 2410.920 Previous Top of Flag: Highlighted zone where price action showed previous resistance before breaking out. Technical Patterns: Flag Pattern: The chart showcases a flag pattern where the price initially showed strong upward momentum (flagpole) followed by a consolidation phase within parallel lines (flag). The breakout from this flag pattern indicates a continuation of the bullish trend. Upward Channel: The price is currently moving within an upward channel, suggesting a controlled and steady rise in the price of gold. Current Price Action: Price: 2410.920 (at the time of the screenshot) The price has broken out of the flag pattern and is currently trading near the 4-hour LQZ level. There's an observed strong bullish momentum as the price approaches the daily LQZ. Trading Plan: Bullish Bias: Given the breakout from the flag pattern and the upward channel, the bias remains bullish. The price targeting the daily LQZ indicates further potential upside. For participating inside of this trade you would be waiting for the market to give some sort of pull back to the support box that we have indicated. The shadow vars that i have provided give a good representation of what we would be looking for in order for price to continue long. Risk Management: Ensure proper risk management by calculating position size according to your risk tolerance. Monitor key levels for any signs of reversal or significant market reactions.
OANDA:XAUUSDLong
by Adlercon333
Revealing My Top Gold Trading Secrets for Huge Profits!In this video, I reveal my top trading secrets for making huge profits in gold trading (XAU/USD). This educational content will cover key technical analysis techniques and strategies that I frequently use in my charts, as well as valuable insights into trading mindset and proper risk management. Let's unlock the potential of your trading skills together! Technical Approach: In this educational segment, we'll focus on the core technical analysis principles that I use to make informed trading decisions. Here's a detailed breakdown of my approach: Identifying the Trend: Uptrends and Downtrends: Learn how to recognize market trends using higher highs and higher lows for uptrends, and lower highs and lower lows for downtrends. Trendlines: Use trendlines to connect the highs and lows of price movements, helping to identify the direction of the trend and potential reversal points. Support and Resistance Levels: Support Levels: Identify areas where the price tends to find support as it falls, acting as a floor preventing further decline. Resistance Levels: Identify areas where the price tends to find resistance as it rises, acting as a ceiling preventing further ascent. Historical Price Action: Use past price movements to pinpoint key support and resistance levels that the market respects. Liquidity Zones (LQZ): Definition: Liquidity zones are areas on the chart where there is a high concentration of trading activity, often leading to significant price movements. Identification: Learn how to spot these zones using volume profiles, order flow analysis, and historical price action. Trading Strategy: Use liquidity zones to identify potential entry and exit points, as they often precede major price moves. Volume Analysis: Volume Spikes: Understand how volume spikes can indicate strong buying or selling interest, confirming the validity of price movements. Volume Trends: Analyze volume trends to gauge the strength of a price trend and anticipate potential reversals. Entry and Stop Loss Strategies: Breakouts and Pullbacks: Enter trades on confirmed breakouts above resistance or below support, or on pullbacks to key levels within a trend. Trailing Stop Loss: Implement a trailing stop loss to lock in profits as the trade moves in your favor, adjusting the stop loss level as the price progresses. Mini Lessons: Mindset: Patience and Discipline: Patience: Wait for the right trading setups that meet your criteria, avoiding impulsive decisions. Discipline: Stick to your trading plan and rules, even when the market becomes volatile or unpredictable. Emotional Control: Stay Calm: Keep your emotions in check to avoid making irrational decisions based on fear or greed. Mindfulness: Practice mindfulness techniques to remain focused and calm, especially during stressful trading situations. Proper Risk Management: Position Sizing: Risk Per Trade: Limit the amount of capital you risk on any single trade, typically 1-2% of your trading account. Position Size Calculation: Calculate your position size based on the distance to your stop loss and your risk tolerance. Risk-Reward Ratio: Target Ratio: Aim for a risk-reward ratio of at least 2:1, meaning your potential profit should be at least twice your potential loss. Trade Evaluation: Evaluate each trade based on its risk-reward ratio before entering, ensuring it aligns with your trading strategy. By incorporating these technical strategies and mindset principles, you can enhance your trading performance and increase your chances of success in the gold market. Stay tuned for more educational content and trading insights!
OANDA:XAUUSDEducation
by Adlercon333
Gold decreased slightly before today's PPI news💵GOLD PRICE AND ECONOMIC INFORMATION Gold fell below $2,410 per ounce on Friday after rising nearly 2% in the previous session, but is set to notch a third straight weekly gain, supported by softer-than-expected inflation figures for the US. Headline inflation slowed more than anticipated to a one-year low of 3% in June, while the annual core measure dropped to a three-year low of 3.3%. The deceleration has heightened expectations for a Federal Reserve rate cut, with traders now pricing in a 93% chance of a rate cut in September, up from 73% on Wednesday. Meanwhile, San Francisco Fed President Mary Daly expects further easing in price pressures and the labor market to justify rate cuts, while Chicago Fed President Austan Goolsbee believes the US economy is on track to achieve 2% inflation. 🔴SELL GOLD: 2438 - 2440, SL: 24046 🟢BUY GOLD: 2395 - 2393, SL: 2389 🟢BUY GOLD: 2382 - 2380, SL: 2376 ⛔️Breakout: top border 2414 - 2425 - below 2403 - 2396 - 2390 🔼Support: 2403 - 2397 - 2392 - 2387 - 2378 - 2370 🔽Resistance: 2414 - 2425 - 2437 - 2449 - 2460 GOOD LUCK EVERYONE👍
OANDA:XAUUSD
by Scalper_Ananda
Unbelievable Gold Trade Setup! Must-Watch Analysis & Secret RiskTechnical Analysis of Gold Spot (XAU/USD) Chart Overview: - Current Price: $2,364.525 - Time Frame: 1 hour - Key Levels: - Resistance Levels: - TP 3: $2,391.040 - TP 2: $2,386.595 - TP 1: $2,379.694 - Support Levels: - LQZ: $2,371.857 - LQZ: $2,356.635 - TP 1: $2,347.655 - TP 2: $2,339.090 Candlestick Patterns: - Recent Uptrend: The chart shows a significant uptrend starting from July 2nd to July 4th. - Price Consolidation: Following the uptrend, there was a period of consolidation with prices forming a triangle pattern. - Downtrend and Recovery: A sharp downtrend occurred, followed by a recovery attempt which is now in another consolidation phase. Key Observations: 1. Resistance at TP 1 ($2,379.694): The price faced resistance around the $2,379.694 level and has not been able to break through. 2. Support at LQZ ($2,356.635): This level has provided significant support and could be a potential entry point if the price tests this level again. 3. Current Position: The price is currently trading around $2,364.525, which is below the key resistance levels and above the support levels, indicating a range-bound movement. Lecture on Using Proper Risk Management Risk management is crucial for successful trading. Here are key principles to ensure proper risk management: 1. Determine Risk Tolerance: Understand your risk tolerance and set a percentage of your capital that you are willing to risk on each trade. Commonly, traders risk 1-2% of their capital per trade. 2. Set Stop Losses: Always use stop losses to limit potential losses. For the current XAU/USD scenario, a stop loss could be placed slightly below the LQZ support level at $2,356.635. 3. Position Sizing: Calculate your position size based on your risk tolerance and stop loss level. For instance, if you have $10,000 and are willing to risk 2% ($200), and your stop loss is $10 away from the entry price, your position size would be 20 units. 4. Risk-Reward Ratio: Aim for a favorable risk-reward ratio. A common target is a 1:3 ratio, meaning you aim to make three times the amount you risk. 5. Diversification: Avoid putting all your capital into a single trade or asset. Spread your investments across different assets to mitigate risk. Conclusion For an in-depth analysis, make sure to watch the rest of the stream where I cover: - TSLA (Tesla) - DXY (US Dollar Index) - BTC (Bitcoin) - US30 (Dow Jones Industrial Average) #XAU/USD #GOLD #TSLA #MARKETLESSON
OANDA:XAUUSDLong
by Adlercon333
Mastering Ichimoku Cloud: Predicting Price Movements Like a ProIn this comprehensive video tutorial, I’ll guide you through the process of predicting price movements using the Ichimoku Cloud. Learn how to determine price direction with precision and identify the crucial "doorway" the price must pass through to confirm a trend. We'll cover: Understanding the components of the Ichimoku Cloud Identifying key signals for trend confirmation Real-life examples to illustrate how price interacts with the cloud Practical tips for applying Ichimoku Cloud analysis in your trading Join me as I share my expert insights and provide step-by-step guidance to help you master the Ichimoku Cloud. Don’t forget to like, comment, and subscribe for more trading lessons and strategies. Let's elevate your trading skills together! 🚀💹
Education
by TruthakaWallStreetakaCookie
GBP/JPY- Trend Changing PatternMy focus this morning is on the GBPJPY, we have seen a strong reaction to the breakdown low that happened on 03 May 2024. The reaction gave us a bullish wave structure on the H1 timeframe, the concluding factor is that wave structure 4 failed to make an HH 5 (200.652). Instead of an HH 5, the price made an LH 5 in an uptrend. The price then proceeded to break structure 4, known as a trend-changing pattern. Knowing this information determined our directional bias for the GBPJPY. So far, we have seen a retracement to the LH 5 (200.652), which has now become a structural point because it made a LL. Yesterday the price formation indicated that the Sellers are slowly coming into the market above the 200.652, we saw sharp rejections twice yesterday and a trade below the 200.65 and 200.50 today will be a sell indication for us. The invalidation point is a break above the 200.95, above here selling is no longer an option for us. Think in Probability: As traders, you must be careful to align your behavior and expectations with the following principles: - Anything can happen - An EDGE is only an indication of one thing happening over another - There is a random distribution between wins and losses - You don't need to know what will happen in order to make money in trading.
Short
by Charts247TradingAcademy
7
XAU/USD Swing TrendXAU/USD Swing Trend - Primary : Down Trend - Secondary : Down Trend - Minor : Down Trend I think now It may be at the end of leg C of 4. and Finished 13 day of Down Trend Already. However, Trade with the trend, when my Minor Trend looked up, I then waited for the price to adjust down to the EMA line and to the +1 SD line as well. Therefore, the Buy Position has been opened. The target is to make a profit in the area of ​​2400, which is the Supply Zone. And place SL when the price breaks the POC of Volume below.
OANDA:XAUUSDLong
by CoachGoii_SuperTrader
1
Strong increase again, today's trading trendGold prices fluctuated today amid weaker-than-expected US employment data. Since then, the market has speculated that the country's economic growth will slow down. Investors strengthen expectations that the US Federal Reserve (FED) will cut interest rates by the end of 2024. Accordingly, US bond interest rates dropped to 4.2%, meaning the value of bonds decreased. Investors put capital into bonds to generate profits. As a result, very little money flows into precious metals. Gold price today has upward momentum. The World Gold Council said that in April 2024, central banks around the world bought a net 33 tons of gold. This signals that many countries continue to increase their gold reserves to "save for a rainy day". With the above information, speculators may think the gold market will heat up. From there, they increase their purchasing power. Today's gold price in the world increased by 28 USD, from 2,327 USD/ounce to 2,355 USD/ounce at 6:00 a.m. on June 6.
TVC:GOLDLong
by FalCol_TradingMaster
Gold ( XAUUSD ) Outlook !!!www.tradingview.com Gold (XAUUSD) is navigating a descending triangle pattern and has rebounded from its upper edge. The 50-period moving average adds an additional layer of resistance for the asset. If it breaks above the 2345 resistance level, it could clear the path to the 2365/2390 resistance Conversely, a rebound from the upper edge may trigger a decline to the 2310/2285 support level. The overall trend is positive, yet a dominant buyer has not emerged. The market is in anticipation of news. On a local scale, the trend is downward. To validate a shift to a local upward trend, the price must surpass and stabilize above the range of 2354 - 2364; this would set the stage for a potential rise to 2400. However, should the price fall below 2328, it could trigger widespread market concern.
EIGHTCAP:XAUUSD
by Goldxking