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Lingrid | GOLD Potential Channel BREAKOUT. ShortOANDA:XAUUSD is moving sideways after the recent bearish momentum, forming small range candles which means a pause before the next move. Based on the current behavior, I think the market may initially move above the previous day's high before turning lower towards the support level at 2600. Additionally, the price is testing a global upward trendline that I noted in my previous forecasts. If the upcoming news does not alter the short-term market direction, I expect the price to gain bearish momentum as it approaches the support level. My goal is support zone around 2606 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDShort
by Lingrid
9
XAUUSD: Double Top PatternHello everyone! Currently, after a false breakout at the key level of $2721, the price has quickly reverted to a bearish trend. This development bears significant resemblance to the double top pattern, a technical formation that often signals an impending downtrend. Given the current situation, the outlook leans in favor of the bears. If this scenario materializes, we can expect the price to continue moving towards lower support zones. To project potential downside targets, we are utilizing the Fibonacci extension tool, a powerful method for analyzing price momentum. Based on our calculations, two critical levels to watch are $2609 and $2557. These are areas where buying pressure may emerge, potentially testing the trend's continuation. Stay tuned for further updates to fine-tune your trading strategies!
OANDA:XAUUSDShort
by Trader-Briannnn
USOIL: BEARISH TREND USOIL: BEARISH TREND Price has been rising but a gap has been identified. Expecting a reversal and sell opportunity. Price is due for a correction and sellers are expected to take control. Key Levels: - Entry: NOW (70.70) - Stop Loss: (71.46) - Take Profit: (68.00) Linear Regression Channel: - Upper band: Resistance - Lower band: Support - Median line: Trend indicator My prediction: Sell opportunity arising from gap identification. Price has been rising but a gap has been identified. Expecting a reversal and sell opportunity. Price is due for a correction and sellers are expected to take control. Key Levels: - Entry: NOW (70.70) - Stop Loss: (71.46) - Take Profit: (68.00) Linear Regression Channel: - Upper band: Resistance - Lower band: Support - Median line: Trend indicator My prediction: Sell opportunity arising from gap identification. Best wishes Tom 😎
TVC:USOILShort
by Tom_Trades_670
2
GOLD H1 SHOWS BULLS / BEARS ?GOLD: Sideways Trend Persists Ahead of Fed Decision Gold price is currently trading in a sideways trend, struggling to find direction ahead of the Federal Reserve's policy announcement. The precious metal is caught between the 21-day Simple Moving Average (SMA) support at $2,655 and the 50-day SMA resistance at $2,671. Traders are adjusting their USD positions ahead of the Fed's decision, with mixed US PMI data and geopolitical tensions supporting gold prices. Markets have fully priced in a 25 basis point interest rate cut by the Fed. Technical indicators suggest a lack of clear directional bias, with the 14-day Relative Strength Index (RSI) trading flat at around the 50 level. Targets: Buy target : $2,700, $2,726 Sell target : $2,613, $2,600 Best Wishes Tom 😎
OANDA:XAUUSD
by Tom_Trades_670
2
Xauusd target 2642 today?? Here's a summary of your updated XKD/USD trade plan: Trade Plan - *Entry Point*: 2607 (current) - *Target*: 2642 - *Stop-Loss*: 2594 Market Analysis The XAU/USD is experiencing a bullish rebound, driven by a weakening US dollar and increasing inflation concerns. Technical Analysis - *RSI Indicator*: The Relative Strength Index (RSI) is above 40, indicating a potential bullish reversal. - *Moving Averages*: The 50-day moving average is trending upwards, supporting the bullish view. - *Support Levels*: The support levels at 2594 and 2585 could provide a buying opportunity in case of a pullback. Risk Management - *Risk-Reward Ratio*: Your risk-Reward ratio is approximately 1:2.4, which is relatively aggressive. - *Position Sizing*: Make sure to adjust your position size according to your risk tolerance and account size. Stay disciplined and stick to your trade plan. Good luck!
OANDA:XAUUSDLong
by Geroge_Fx
XAUUSD Head And Shoulders PatternOn the 15-minute gold chart, a Head and Shoulders pattern is forming. If this pattern completes, the price could experience a significant drop, potentially reaching the $2638 level. "Market fluctuations in the final month of the year, especially in the commodity market, are very low due to liquidity shortages. Therefore, trading during this period is highly risky. Use reasonable trade volumes and do not trade without setting stop-loss and take-profit levels." OANDA:XAUUSD
OANDA:XAUUSDShort
by imodaresi