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Xauusdlong

XAU/USD Analysis (Hourly Chart)In the current XAU/USD hourly chart, the price is moving within a well-defined upward channel, making a series of higher highs and higher lows. Channel Boundaries: The price action respects both the upper and lower boundaries of the ascending channel, showing clear bullish momentum. Key Reversal Zones: We observe a series of pullbacks near the upper boundary, marked by the red circles. These zones indicate potential areas of short-term resistance where selling pressure tends to increase. Each time the price hits this level, it retraces before making another attempt higher. On the other hand, the green circles represent areas of support near the lower boundary of the channel. These are significant as buyers stepped in at these points, pushing the price back up. Trend Continuation: The trend remains intact as long as price continues to respect the lower trendline. The most recent bounce off the lower boundary near 2,610 USD suggests that buyers are still in control. Key Resistance & Support Levels: Resistance: The upper boundary around the 2,635–2,640 level is a crucial area to watch for potential price rejection. Support: The lower boundary around the 2,610 level is acting as a strong dynamic support level, where price is expected to find buying interest. Outlook: If the price continues to hold above the lower boundary, there’s a good chance we could see further upside movement, potentially testing the upper boundary again. However, if the price breaks below the lower trendline, it might signal a potential trend reversal or deeper retracement. Conclusion: XAU/USD is in a bullish channel. Traders can consider buying near the lower trendline and targeting the upper boundary, with a close eye on key support and resistance levels for potential breakouts.
PEPPERSTONE:XAUUSDLong
by LegacyTrendX
Gold 1H Analysis: Bullish Reversal at Key Support ZoneGold has found solid support at a critical price level on the 1H timeframe. This support coincides with the lower boundary of the FIB cloud, which often acts as a dynamic support zone in trending markets. The recent price action indicates a potential reversal from this level, suggesting an opportunity for a long position as buyers step in. Technical Setup: • Support Zone: The price has reacted positively at the lower edge of the FIBcloud indicating a possible bottoming pattern in the short term. • Candlestick Formation: A bullish engulfing pattern has formed at the support area, reflecting increased buying interest and potential upward momentum. • Trend Analysis: The broader trend remains bullish, and the current pullback to the support zone provides a low-risk entry for continuation higher. Trade Idea: Entry: Initiate a long position at the current price level around the support zone. This entry point is supported by strong technical confluences, enhancing the probability of a successful trade. Target: • Primary Target: Aim for the previous resistance level around 2,623, where the price is likely to encounter the first significant barrier. • Secondary Target: A further target can be set higher around 2,626, aligning with a major resistance level or a previous high. • Stop Loss: Place the stop loss just below the identified support area and the recent low around 2,610. This placement minimizes risk and prevents premature exit if there is slight volatility. Fundamental Justification: • Gold’s recent retracement is largely driven by a short-term profit-taking scenario, despite a favorable macro backdrop for safe-haven assets. Continued concerns over global economic uncertainties and potential dovish signals from central banks are likely to support further upside. • Upcoming data releases and geopolitical developments should be closely monitored, as any significant shift could accelerate the movement towards the upper targets. Risk Management & Trade Adjustments: • If the price decisively breaks below the current support zone, exit the trade and look for new setups. This would invalidate the current bullish outlook and signal a potential shift in market dynamics. • Consider trailing the stop loss as the price moves in favor, securing profits while allowing for further upside movement. Conclusion: This long position on Gold capitalizes on a well-established support level and bullish market structure. With a favorable risk-to-reward ratio and supportive technical indicators, this trade offers an attractive setup for those looking to capture the next leg higher in Gold’s price action. Remain vigilant for any fundamental changes that could impact the trade. Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
CAPITALCOM:GOLDLong
by AR33_
Gold Surges Above 2600—Prepare for a Potential Reversal After enjoying a pleasant weekend, we’re back to the action-packed market. Gold unexpectedly broke through 2600, reaching a high of 2631 today. Unfortunately, our short positions from Friday were caught in a trap. However, there's no need to worry—trust me, a significant drop is inevitable, and it might be more dramatic than we anticipate. Currently, the 15-minute chart indicates a potential for a small rebound, while the 2-hour chart signals bearish momentum. Based on this setup, it's likely that a head and shoulders pattern could form. Our strategy should be to increase our short positions above 2620 and patiently wait for the decline to unfold.
FOREXCOM:XAUUSDShort
by MichaeliaDefoe
XAUUSD:Bearish intraday Last Friday, gold made a strong breakout above resistance, stabilizing above 2600. Today’s opening continues to show slight consolidation at high levels. From a technical perspective, the short-term outlook is bearish, indicating that at least one retest of the 2600 support is needed to determine if there is further upward momentum. In my personal view, a deeper pullback is more likely. By early October, there’s a high probability of a return to the 2550 level. Thus, my mid-term strategy will focus on short positions. For intraday trading, the key focus will be on the 2600 support area—if it holds, a long position around that level could be considered.
OANDA:XAUUSDShort
by Mia-Signal
Gold Shines as Dollar Dips: A New All-Time High in SightHey Realistic Traders, let’s dive into the analysis of OANDA:XAUUSD . In the daily timeframe, gold has formed a symmetrical triangle followed by a breakout above the upper trendline. Recently, the price retested this trendline and continued to move upward. Analyzing the trend, gold remains above the EMA34 line, indicating a bullish trend. Additionally, the MACD has made a bullish crossover, signaling upward momentum. With these technical indicators aligning, we are looking at a potential continuation of this upward movement toward Target Area 1 at 2,625 or even Target Area 2 at 2,739. However, bears might find some hope if the price manages to break below the support level at 2,426. The bullish trend is also supported by fundamental factors, as Federal Reserve Chairman Jerome Powell recently confirmed that interest rate cuts are likely in the near future. This has weakened the dollar compared to other currencies and commodities, further boosting the appeal of gold. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Gold. " Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
OANDA:XAUUSDLong
by financialfreedomgoals101
XAU/USD Sell to buy idea, from 2,590 or 2,560This week’s analysis for gold suggests that the price will slow down and begin to distribute. Once the price corrects and retraces to one of my nearby points of interest (either the 10-hour or 5-hour demand zone), I'll be looking for re-accumulation to occur on the lower time frames. Once this re-accumulation is confirmed, I’ll be looking for buying opportunities to continue the upward trend. I expect this move to happen later in the week, depending on the volume and how long it takes for the price to consolidate and break out. Key confluences for gold buys: - The price has been bullish on both lower and higher time frames. - Two clean demand zones have triggered the recent break of structure. - A bullish move is pending a pullback. - The dollar is bearish, which supports gold’s upward movement. P.S. If the price starts to decline and shifts in character, I’ll be looking for a supply zone to potentially catch a short-term sell down toward the demand level.
OANDA:XAUUSDLong
by Hassan_fx
OfficialKieranTrewick | XAUUSD 2HR Analysis | 3000? All time high crazy! Charting new territory the precious metal is at it again, starting the week with a suitable correction down to the previous 25% quarter level and dynamic support whilst creating a fresh higher low before the latter week ascent that broke through the 3 day resistance pivot level and into the 2600s where it just continued pushing until market close on friday evening. Whilst it just undercut the new 75% quarter level because of the close I can see that price slowed down upon reaching the dynamic resistance level and quarter level of 2525 indicating that we could see another correction down to 25% and the key pivot zone identified which aligns with both dynamic support lines before continuing its ascent into the upper 2600s. Due to the recent bullish momentum it is important that we follow price and trade with the confirmations that are created not chase what we want to happen, basically meaning price can still go up before any correction happens and analysis is a footprint to possibility not something to be traded based on but something to be used as a toolbelt essentially giving us a list of confirmations that can increase the probability of a trade that of which can always change. If you like this idea please drop a like and share it with your friends so they too can be in the loop with golds potential movements in the coming week. Analysis Conducted by OfficialKieranTrewick
OANDA:XAUUSDLong
by OfficialKieranTrewick
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OANDA:XAUUSDLong
by Atom_Indicator
Gold Favors Beyond $2,600Technically, the $2,600 round - number level, which is also the all - time high reached on Wednesday, may present some resistance before the $2,613 - 2,615 zone. This $2,613 - 2,615 zone represents the upper edge of a short - term ascending trend channel that has been in existence since June and should function as a crucial pivot. Since the oscillators on the daily chart are firmly in positive territory and are still far from the overbought area, a continuous strength above this mentioned level will be considered a new incentive for the bulls and will prepare for a further short - term upward movement of the gold price. On the contrary, the $2,551 - 2,550 area currently seems to guard against the immediate downward movement before the $2,532 - 2,530 horizontal resistance break - point. Some continuous selling could expose the psychological level of $2,500. If the gold price drops below this level, it could speed up its decline towards the $2,476 convergence point, which consists of the 50 - day Simple Moving Average (SMA) and the lower edge of the channel. A definite break below this point will imply that the XAU/USD has peaked in the near - term, leading to a decline towards the 100 - day SMA, around the $2,412 area, on the way to the $2,400 mark.
OANDA:XAUUSDLong
by Tekapo-Invest
Proof Technical Analysis Reigns SupremeIn doing my multi-timeframe analysis from earlier in the evening I was bias long. However I wasn't sure if price wanted to make a deeper pullback to the 1H LQZ I had marked up or even come down for the 3rd touch of my trendline in the ascending wedge (reversal pattern). Dropping down to the 5m timeframe I saw price slowing and formed a hover. I could have set an entry using a lower lot size to build a buffer, confidence, and to be able to participate in the markets - but I didn't. I passed out lol. I knew my bias was still correct and I was confident in taking "another" long position. I saw a larger flag with the close of that flag above a resistance zone or LQZ however you want to label it, and knew my bias was still valid. I took my entry as I saw price stalling forming some 5m dojis. After the first big push up I was able to reduced my risk letting the trade play out. My TP was initially aiming for the high of the day. However I was mindful of NY taking longer to play out and I knew I wasn't able to really monitor my trade. So I "didn't get greedy" and snagged my profits at about 80 ticks on the futures chart. This was a huge lesson in trusting the story price tells us through market structure and patterns. Although I didn't participate in my first trade, the trade I did take would have been a great stack-in. I'm glad I was able to participate today as my best and only trading days are Thursdays and Fridays.
OANDA:XAUUSDEducation
by MommaPreneur
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