Futures market
Head and Shoulder Pattern indicates Gold fall 2600$ Short entry between 2650-2670
Profit Taking zones are 2630-2600-2575
Max risk 5% of equity with averaging strategy in zone of 2650-2670
Bearish Head and Shoulder Pattern indicates more deep fall in Gold towards $2630-$2600-$2575
My chart analysis on gold futures contract
Neck Line is retesting again and again which will be attraction for buyers but be cautious.
Head and Shoulders Top (Bearish Reversal)
This pattern occurs after an uptrend and signals that the price is likely to reverse and head downward. It consists of three main peaks:
Structure
Left Shoulder:
The price rises to a peak and then declines.
Head:
The price rises again to a higher peak (the "head") and then declines.
Right Shoulder:
The price rises to a lower peak, roughly equal to the Left Shoulder, and then falls back down.
Neckline:
The line connecting the lows between the shoulders and the head. It acts as support.
A break below the neckline confirms the pattern.
Steps to Identify
Uptrend before the formation.
Three peaks: Left Shoulder, Head, and Right Shoulder.
The neckline acts as the key support level.
When the price breaks the neckline downward, it signals a bearish reversal.
How Traders Use It
Once the neckline is broken, traders expect the price to fall further.
The expected drop is calculated as:
Distance from the Head to the Neckline = Expected move downward.
GOLD FURTHER SELL OFF?! (UPDATE)Gold has been dropping further down this morning, creating a new weekly low. We are now in the lower bound of the channel again & pretty much close to completion of the 'Flat Correction' wave. Wave 3 in full effect now📉
Oil Long 4HThis trade idea is based solely on Price Action. I observed that oil has broken the previous neckline, and I expect a pullback to the golden zone of the Fibonacci retracement for the previous leg. Before entering the trade, I'm looking for confirmation on a lower time frame, such as the 30-minute chart. An ideal confirmation would form a 'W' pattern, preferably with a higher low in the second leg.
69.20-69 is the entry zone with almost 50 pips SL
XAUUSD-A Buying Opportunity Amidst Global Uncertainty.XAUUSD-A Buying Opportunity Amidst Global Uncertainty.
The gold price has been trading within a flat top and bottom channel, indicating a period of consolidation. A strong horizontal resistance line and an inclined support line are visible on the chart. Notably, the trend has reversed three times from the resistance line and twice from the support line.
Currently, the trend is testing the support line, where we anticipate a third reversal. Following this, we expect the price to move towards the resistance line.
Trade Setup:
Based on our technical analysis and news impact, we recommend opening buy positions in gold.
- Entry: Buy gold at 2640-2650
- Stop Loss: 2624 (below the support line)
- Target Prices:
1. 2670 (T.P1)
2. 2685 (T.P2)
3. 2700 (T.P3)
4. 2717 (T.P4, final target near the resistance line)
We believe that the current market conditions and news impact make this a attractive buying opportunity for gold.
looking for drop in price between 2512<>2475-->3000thats where the trend started for the current run to ath. may look to rebalance before breaking into 3000 next year
XAUUSD POSSIBLE MOVEMENTHello traders look at my chart I have shared gold signal must share your ideas about .
According to my personal analysis gold will Bearish more, there is support and resistance given bellow if its breaks the support the next move of gold is identified in the chart .
Key points ,
Resistance zone .2663
Support zone .2642
Target point .2633,2630
Must share your ideas about it support with your likes and comments follow me for timely updates .
XAUUSD- $2750 / $2800 NEXTXAUUSD- $2750 / $2800 NEXT
As illustrated, market has grabbed liquidity above a mid-term high just above $2720.
The market is selling all of that liquidity toward the lower side of the internal range, where there is a lot of sell-side liquidity below $2612 (near $2600) and below $2580 (near $2570 in extension).
Should those areas hold as support, the yellow metal should see a strong rebound off of key psychological prices (such as $2600 or $2575/70) to make a year-end bull expansion move reaching near it's historical max of $2790.
That being said and technically speaking, keep an eye on key psychological price levels and wait for an evident "V" Shape manipulation pattern on the 1H and 4H timeframes in order to take a long entry and try to catch what could be an interesting and promising bullish push.
GOOD LUCK!
USOIL Head & ShouldersFor most of this year I've felt that oil was going to get cheaper, and we've already seen the first leg of that, and then the last few months we've been going sideways. I believe this chart is very close to making its mind and resolving down, given this nice head & shoulders pattern currently. If this H&S breaks down I think oil will enter a great sell-off during the first half of 2025.
GOLD H4 ANALYSISGold Tuched Support Area 2635 From Here We Can Place Buy Positions and set target to 2660
its safe zone for long buy
$NQ bounce I would really SEED_ALEXDRAYM_SHORTINTEREST2:NQ to drop all the way down to 21,880-21,896 for a bounce. Maybe a smaller bounce at 21,910; FOMC this week so a little less risky and a little more patient waiting for plays
Daily live trade with XAUUSD in 15m/30m/1h 20241217 2Daily live trade with XAUUSD in 15m/30m/1h 20241217 2
BANKNIFTYBanknifty levels are based on imbalances
1. gapup 53150 long
2. 53150-52800 trade breakout
3. gapdown 52800 short
GOLD: Growth & Bullish Continuation
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the GOLD pair which is likely to be pushed up by the bulls so we will buy!
❤️ Please, support our work with like & comment! ❤️
NIFTYNifty levels are based on imbalances
1. gapup 24520 long
2. 24520-24450 trade reversal
3. gapdown 24450 short
XAUUSD-Selling Rallies Amid Bearish StructureXAUUSD-Selling Rallies Amid Bearish Structure
In my analysis of XAU/USD yesterday, I highlighted that after the 800-pip drop, a rebound was likely. However, given the weekly Pin Bar and the bearish daily structure, I emphasized that any upward move should be viewed as a correction and an opportunity to sell.
Indeed, the market did see a rebound, but it was weak and short-lived. After reaching the 2665 zone, the price reversed to the downside and ended the day with minimal change.
Currently, the price sits at 2652, with the recent lows now acting as confluent support, reinforced by the rising trendline from the recent bottom. A decisive break below this support zone would shift focus to the next key level at 2610-2615.
My strategy remains unchanged: I continue to look for selling opportunities on rallies.
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shorting If I get a sell setup I'll take advantage of that. Based on my wave Analysis I can see a down side to marked level minimum to tap before any other upside if not from the current level then after breaking the level 2665 above ill look for the sell setup. Lets wait for the right setup now
As always, market wins! trade with care. be a part of the market
. FXOPEN:XAUUSD
XAUUSD-bias short Bearish indications:
LLLH
MA respected in 2 hr time
Double top formation
Resistance respected at 2663
Ma 21 respected at the head and shoulder pattern from resistance.
LLLH
Trade plan bias short @ 2656
SL:2664
TP1:2647
TP2:2639
SELL XAUUSD | GCYou can sell on XAUUSD | GC after that it grabbed the LQ and target the same levels as mine.
Gold Trading Plan!Gold has recently broken its ascending trendline and is currently trading below the resistance zone. It is expected that after a pullback to the broken level, the price will resume its downward movement, targeting at least the specified support level.
If the price confirms the pullback and reacts at the resistance level, short positions can be considered. The initial target for this decline is the identified support zone on the chart.
XAUUSD Gold (XAU/USD) puts pressure on daily lows and trades below $2,660 on Friday’s early American session. The US Dollar (USD) reclaims its leadership ahead of the weekly close, helped by rising US Treasury yieldsGold price faced rejection at higher levels on Thursday and turned south before finding support at the 50-day Simple Moving Average (SMA) at $2,671 early Friday.
The 14-day Relative Strength Index (RSI) has also witnessed a renewed upside while holding well above the 50 level.
If Gold price resumes the recovery momentum, it could retest the multi-week high of $2,726, above which 2,750, the confluence of the psychological barrier and the November 5 high, will act as a tough nut to crack.
A failure to defend the 50-day SMA support at $2,671 on a daily candlestick closing basis will prompt sellers to target the 21-day SMA at $2,650 once again.
