Gold Forms Triangle Consolidation, Double Top Reversal in Sight?
Yesterday, gold made its first pullback to test support and has now formed a triangle consolidation pattern. I anticipate that today will begin with an upward movement, followed by another test of resistance. However, I believe the resistance will hold, leading to another decline. Eventually, gold is likely to break below the trendline, forming a double top at the highs and triggering a significant bearish reversal.
Xauusdsell
XAUUSD: The decline is about to begin, have you sold?After gold rose to the high point of 2580-2590, it basically maintained a shock consolidation this week. So far, no new historical highs have been triggered this week.
For now, most investors in the market believe that the Fed's interest rate decision will be a node, but in fact, it is not. I think today's data will be a window for a change.
Because the closer the interest rate decision is, the more people will be eager to close the profitable long orders, which will quickly weaken the long force and give the short force an opportunity to take advantage of the situation.
So I think there is a high probability that there will be a callback before the interest rate decision.
Trading strategy:
Sell in the 2580-2590 area, the target is first to look at the 2550 area, and the second is the previous high 2530 area.
I personally still hold on to the short orders I held last week. After adding positions at high levels several times, the average price is now at 2567. As long as the gold price falls, our trapped orders can be closed at a profit.
Gold Nearing Peak: Time to Short Ahead of Expected Pullback
Gold has reached a high level, and technical indicators are starting to show signs of weakening. I anticipate that we are about to see the final short-term push upward, followed by a return to a downward consolidation trend. Prices are expected to drop below 2550.
The current trading strategy is to initiate short positions, gradually adding more as the price fluctuates, and holding until the downward trend begins.
Gold Stagnates at Resistance: A Breakdown Imminent?
Gold has been consolidating at its high levels for some time, with the resistance zone clearly defined. As long as this resistance remains unbroken, the primary focus should be on short positions. The longer the price consolidates, the sharper the eventual decline is expected to be.
Gold: Will start selling above 2590
Currently, the gold price is at 2584. I believe it should rise to the 2590-2596 range before starting to decline, with a significant drop likely to occur, potentially reaching the 2563 area. Therefore, I plan to initiate a sell position near 2590, with take-profit targets set in the 2573-2561 range.
Gold's price movement could be influenced by market supply and demand, geopolitical risks, and economic data, so I will closely monitor market developments to adjust my strategy as needed.
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GOLD: The 2570-2580 area is likely to be a stage high pointGold finally ended the suppression of nearly a month yesterday, breaking through 2530 in one fell swoop, and the latest high reached 2572.
I mentioned in yesterday's article that if gold does not set a new high in the short term, it may go down, but I didn't expect the impact to be so strong, much more violent than I expected.
Yesterday, my Sell position was still held, with a small position at 2543 and an increase at 2550. Now the price has stabilized around 2570. I am going to add a little more, pull the average price appropriately, and continue to hold a bearish view.
In my opinion, it is impossible to keep setting new highs. From the previous high of 2530 to the current 2570, it has risen by more than 40 US dollars after setting a new high.
According to the previous rising pattern, each time the increase is 50$, so we can conclude that the high point of this rise is likely to be in the 2570-2580 area.
Therefore, we don’t have to worry too much about the short orders we hold. The price of gold is likely to start falling from the 2570-2580 area.
Next, I will continue to update my ideas in my channel for your reference. If you have any ideas, you can ask me directly.
Xauusd sell setupHi everyone.
As you can see we broke that consolidation to the down and now we have a CHoCH in 1H TF and even we have huge amount of divergence in TSI indicator that shows the sellers are coming in.
As this trade is against the direction of higher TF, so it's a risky trade and please set an order with 0.5% of your balance.
Please consider the risk management and let's see what happens...
Gold has not stopped increasing, long-term sell ordersI update you with the price levels to pay attention to when placing orders. For Sell Scalping orders, pay attention to the red levels at the price points 2595 - 2611 - 2620. For Buy points, 2575-2571- 2554 - 2545. These levels have a maximum SL of 3 prices. Never hold on to more than this level and the points around 2530-2526. This is a long-term swing order zone for Buy, which is expected to be received next week, because there will always be a correction wave. Looking at the market today, the daily and weekly frames are both strong forces for Buy to completely dominate. So if there is any Sell today, just scalp for a short time, and Buy is the main one to be safe. Because today, it is only scalping, so I will only show you the price levels on the Futures market because it has higher accuracy than CFD. Because if Buy holds for a long time, you are afraid of hitting the top, but Sell is afraid of being blocked by the ship. Because gold is at a new ATH peak, there will be no good resistance points. Where to Sell, most analysts currently only use Fibonacci as a price barrier, but it is also risky when the market's upward force is as strong as this, I am busy today and tomorrow I will be online in the market with you, so if you trade today, pay attention to the above price levels, these price zones will change every day and need to be updated the next day, I remind you again that if the price reaches the green liquidity points I marked, Buy is safer, and the red points Sell is high risk, if you do not have knowledge or are weak in knowledge, do not pay attention to the red points, because trading against the wave and trend has a very high possibility of loss, the wave is still expanding and has not shown any signs of stopping, so please pay attention.
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World market
At 06:18:28 09/17/2024, the world gold price stopped at 2,582.76 USD, up 3.73 USD/Ounce, (equivalent to 0.14%) compared to yesterday.
Converted according to the current exchange rate at Vietcombank, the world gold price is about 75,918 VND/tael (excluding taxes and fees).
At the beginning of the trading session on September 16 (US time), the world gold price set a new record at 2,588 USD/ounce. However, immediately after that, profit-taking activities of investors caused the gold price to decrease.
Precious metals received optimistic signals from the US Federal Reserve (Fed) at the monetary policy meeting taking place this week. The market is leaning towards the possibility that the Fed will decide to cut 25 basis points.
XAU/USD "GOLD MINES" Bearish Robbery Plan to steal GoldHola ola My Dear,
Robbers / Money Makers & Losers,
This is our master plan to Heist XAU/USD "GOLD MINES" based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Short entry. Our target is Green Zone that is High risk Dangerous level, market is oversold / Consolidation / Trend Reversal / Trap at the level Bullish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money.
Entry : Can be taken Anywhere, What I suggest you to Place Sell Limit Orders in 15mins Timeframe Recent / Nearest Swing High
Stop Loss : Recent Swing High using 2h timeframe
Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style
Historical high for pullback target 2500Historical high for pullback target 2500
Fundamental Analysis of XAU/USD
US Federal Reserve Monetary Policy:
Interest Rates: Higher US rates make the dollar stronger and reduce the attractiveness of gold, as the precious metal does not pay interest. Lower rates, on the contrary, weaken the dollar and increase demand for gold.
Inflation: Gold is often used as a hedge against inflation. Rising US inflation could push gold prices higher.
Economic and Geopolitical Risks:
Gold has traditionally been a safe haven asset, which is in demand during times of economic uncertainty or geopolitical crises. Examples include global financial crises, military conflicts, and tensions between countries.
US Dollar Rate:
Since gold is quoted in dollars, the movement of the USD rate directly affects the price of gold. A weak dollar makes gold cheaper for foreign investors, which increases its demand.
Gold Demand:
Physical Demand: Industrial demand, jewelry demand, and investment demand (through gold ETFs) are also important for gold price dynamics.
Central Bank Stocks: When central banks buy or sell gold, it can have a significant impact on its price.
XAU/USD Technical Analysis
Technical analysis uses price charts and indicators. Some popular methods of analysis include:
Trend Lines:
Analyze the long-term trend (upward, downward, or sideways). If the trend is up, gold may continue to rise unless there are signs of a reversal.
Support and Resistance Levels:
Identify key levels where the price has bounced or held off previously. These levels can be used to decide when to enter or exit a position.
Indicators:
Moving Averages: Used to analyze the general direction of a trend. A crossover of a short moving average with a long moving average from top to bottom may indicate the beginning of a downtrend, and vice versa.
RSI (Relative Strength Index) indicator: Shows whether an asset is overbought or oversold. Values above 70 indicate overbought, below 30 indicate oversold.
MACD (Moving Average Convergence Divergence): Helps to assess changes in the strength and direction of a trend.
Candlestick patterns:
Some candlestick combinations, such as Hammer, Engulfing, or Doji, can signal a price reversal or continuation of the current trend.
The historic high in the value of gold. Where to next? The historic high in the value of gold. Where to next?
At the moment, the situation on the XAUUSD (gold vs. US dollar) market is showing interesting and volatile movements. In recent weeks, we have seen price fluctuations due to a number of factors such as changes in the monetary policy of the US Federal Reserve, global economic instability and increased interest in safe assets amid geopolitical risks.
Gold prices often react to news about inflation and interest rates. When expectations of rising interest rates increase, this can put pressure on gold prices as precious metals do not generate interest income. However, when uncertainty in the economy or risks increase, investors seek safe haven assets such as gold, which usually drives prices higher.
XAU/USD "GOLD MINES" Bearish Robbery Plan to steal GoldHola ola My Dear,
Robbers / Money Makers & Losers,
This is our master plan to Heist XAU/USD "GOLD MINES" based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Short entry. Our target is Green Zone that is High risk Dangerous level, market is oversold / Consolidation / Trend Reversal / Trap at the level Bullish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money.
Entry : Can be taken Anywhere, What I suggest you to Place Sell Limit Orders in 15mins Timeframe Recent / Nearest Swing High
Stop Loss : Recent Swing High using 2h timeframe
Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style
Gold Short Trade Idea - After All-Time Highs 1 Hour (1H)Gold has recently surged to new all-time highs (ATH) following a strong breakout during the New York session. The momentum carried through to the Asian session, where the price continued to climb. However, as we enter a potential exhaustion phase, there may be an opportunity to short gold.
Analysis:
• All-Time Highs: After reaching new ATHs, gold appears to be losing steam, suggesting that a retracement could be imminent.
• Momentum Loss: The recent price action shows signs of weakening, which could indicate that buyers are stepping back, providing a window for a short position.
• Technical Levels: The take-profit target is aligned with the 0.5 Fibonacci retracement level, a common area for price to pull back after a significant move.
• Price Discovery: Gold is currently in a “price discovery” phase, where the market is determining the true value after reaching unprecedented levels. This increases the potential for volatility and unexpected price movements.
Trade Management:
• Partial Profits: If the trade starts moving in our favor, it’s advisable to take partial profits along the way. This strategy minimizes risk and locks in gains, as waiting for the full target may be too optimistic in a volatile environment.
• Tight Stop-Loss: Given the current market conditions, it’s crucial to keep the stop-loss tight. The market is in uncharted territory, so protecting your capital is paramount.
This trade aims to capitalize on a potential pullback after a historic surge in gold prices. However, caution is essential due to the “price discovery” nature of the market at these levels. Manage your risk carefully and be prepared to adapt to the market’s movements.
Trade carefully, and good luck!
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.
XAUUSD: Trading in support or resistance areasAfter the CPI inflation data released yesterday, the market predicts that the probability of the Fed cutting interest rates by 50 basis points at the meeting next week has dropped from 44% a week ago to 13%, so the probability of a 25% basis point rate cut in September has basically become a foregone conclusion.
Smaller and more conservative rate cuts are not good news for gold, but it is still a certainty that the rate cut will be beneficial to gold. However, after the impact of the rate cuts in the past 1-2 months, most of the gold price has been digested in the process of rising.
So I think that if the gold price cannot set a new record high in the next 1-2 weeks, then there will be a downward trend in gold.
From the perspective of the gold market, the gold price is now at 2516, which is the middle position between the lower support of 2500 and the upper resistance of 2530. It is not good to be bullish or bearish here, so we need to wait for the market to approach the support or resistance before formulating a trading plan today.
The trading plan is as follows:
If the gold price reaches around 2530, you can sell here without breaking a new high
If the gold price reaches the 2500-2510 area, you can buy without breaking support
Based on the fundamentals of smaller interest rate cuts, I prefer to be bearish at high levels rather than bullish at lower levels.
Risk data to watch out for today:
European Central Bank Deposit Facility Rate
U.S. Weekly Jobless Claims Data
U.S. August PPI Data
XAUUSD: USD exchange rate today (September 11): Domestic and intUSD exchange rate today in the world
The USD increased slightly compared to some major currencies in the last trading session, consolidating the gains at the beginning of the week, ahead of important inflation data.
Safe-haven currencies such as the yen and Swiss franc also rose amid sharp declines in bank stocks, after the US Federal Reserve's managing director outlined plans to increase capital of large banks by 9%.
A sharp reaction to the news A sharp reaction to the news
The XAU/USD market is driven by several macroeconomic factors, including interest rates, inflation expectations, geopolitical tensions, and overall risk sentiment in global financial markets. To understand how the price of XAU/USD might behave in the near term, let's examine the key factors at play:
1. Current Market Environment:
Global Inflation: Persistently high inflation typically supports gold prices as gold is considered a hedge against inflation. If inflation remains elevated, investors might continue to seek gold as a store of value.
US Dollar Strength: Gold prices are inversely related to the US dollar. A strong dollar can push gold prices lower as gold becomes more expensive for buyers in other currencies. Conversely, if the dollar weakens, gold prices can rise.
Interest Rates: Central bank policies, particularly the US Federal Reserve's stance on interest rates, play a significant role. Higher interest rates increase the opportunity cost of holding gold (which doesn’t pay interest), potentially leading to lower demand. On the other hand, a dovish stance or rate cuts support gold prices.
CPI blockbuster data hits, will it break through or fall again?At present, the controversy over whether the Fed will cut interest rates by 25 basis points or 50 basis points in September is still uncertain. Since March this year, the US CPI data has continued to decline, and this CPI is the last heavy data before the Fed's September meeting, and it is also the last chance to shake the expectation of interest rate cuts. As of now, the market expects a 69% probability of a 25 basis point rate cut in September and a 31% probability of a 50 basis point rate cut. Therefore, the results of today's CPI data release are likely to affect the sharp fluctuations in gold.
Regardless of the results of today's data release, we must be cautious in trading, because the results of large fluctuations are difficult to judge. At the same time, in addition to the direct impact on the economy, it will also affect the expectations of interest rate cuts. At that time, the large fluctuations in gold prices up and down also need to be prevented.
As can be seen from the 4H chart, there is a strong resistance near the 2530 line. So far, it has failed to break through 7 times. Whether it will fall again or set a new high depends on the results of the CPI release.
Here I give the following trading strategies for your reference:
The first option is to sell at a high level, with a target of around 2505.
The second option is to wait for the price to fall back to around 2505 and buy.
Are you ready to short gold?Gold rose to 2520 as expected, even higher than I expected, and once reached around 2529. However, the highlight of the gold market today is the CPI data.
To be honest, for the current gold market, I don't recommend chasing gold any further. Even if gold rises to the 2530-2535 area, I don't recommend chasing gold any further. Because the market expects the Fed to cut interest rates this month, but there are still differences on whether to cut interest rates by 25 basis points or 50 basis points. Once the market expects a 25 basis point cut, gold will continue to fall; even if the market expects the Fed to cut interest rates by 50 basis points, I think it will be difficult for gold to rise sharply based on CPI data alone, because if gold rises sharply based on a single CPI data, it will compress the room for growth of the interest rate decision on September 19, so even if the CPI data is bullish for gold, the room for gold to rise will be compressed, and gold is likely to rise first and then fall.
So in terms of trading, I don't recommend chasing gold for the time being. On the contrary, if gold approaches the 2530-2535 area, I think you can start to short gold boldly!
I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
XAUUSD CORE CPI NEWS FORCAST 11.09.24REASON FOR FALL
Core inflation is the change in the costs of goods and services, but it does not include those from the food and energy sectors. This measure of inflation excludes these items because their prices are much more volatile. It is most often calculated using the consumer price index (CPI), which is a measure of prices for goods and services.
Key Takeaways
Core inflation is the change in the costs of goods and services but does not include those from the food and energy sectors.
Food and energy prices are exempt from this calculation because their prices can be too volatile or fluctuate wildly.
Core inflation is important because it's used to determine the impact of rising prices on consumer income.