Based on the above analysis, it can be concluded that despite the current slight correction in gold prices, the long-term outlook remains positive. Inflationary pressures, Federal Reserve monetary policies, and other factors such as significant government debt all create favorable conditions for a bullish gold price environment. Gold continues to be an attractive...
1. Tenkan-Sen crosses Kijun-Sen from below to above, with the crossover point below the Kumo cloud. 2. Senkou-Span A crosses Senkou-Span B from below to above, causing a change in Kumo cloud color. 3. Chikou-Span is above the price line and the wider the gap, the better. If all these signals occur simultaneously, investors may execute a Buy order in favor of the...
The basic entry in the Sonic R. System is referred to as the "Classic" entry. Following the initial Classic entry, there are sometimes pullbacks that create opportunities for a "Probe" re-entry. At times, even before the Classic setup forms, price action alone suggests early Probe entry opportunities. Two examples of early Probe entry opportunities are: 1....
In Wednesday's US trading session, gold prices unexpectedly rebounded following previous volatility, possibly due to the increase in the US dollar and bond yields. This led to a reduction in expectations for the Federal Reserve to cut interest rates in the near future. On the 4-hour chart, the upward trend of gold remains clearly intact. The Simple Moving Average...
Gold prices continued their upward trend today, reaching around $2347 USD per ounce, with a 0.261% growth for the day, even as the USD index showed signs of cooling off. However, after several consecutive sessions of gains, gold prices are facing profit-taking pressure. Nevertheless, the precious metal is believed to still receive significant support due to three...
One technical indicator that can help identify potential reversal points for a trend is the Parabolic SAR (Stop And Reversal). The Parabolic SAR places dots on the chart to indicate potential reversal points. From the above figure, you can see the dots change from being below the candlesticks in an uptrend to being above the candlesticks when the trend reverses to...
Despite the release of better-than-expected US employment figures, the global gold market has seen a significant surge, reaching new record highs during weekend trading sessions. This marks the third consecutive week of gains for the precious metal. Recent developments, including the robustness of the economy and inflation data, prompted Federal Reserve Chairman...
Examining the chart, we observe a MACD crossover, indicating a short-term price increase. However, the downward trend of the RSI suggests weak buying pressure. The crossing of the SMA and EMA lines creates a strong resistance zone. Based on these factors, I predict a decline in gold prices.
Using the MACD method, it's evident that buying pressure in gold has weakened, with selling momentum increasing. The rising RSI indicates robust buying activity. Additionally, the recent Bollinger Band squeeze suggests impending volatility. Despite the price closely tracking the upper band, a retest towards the middle band seems likely.
First of all, let's pay attention to EMA. If you need a moving average that can quickly react to price movements, then a short-term EMA would be most suitable. It can help you catch trends quickly and generate high profits. The truth is, the quicker you catch a trend, the longer you can ride it and the more profit you can make. However, the drawback of EMA is that...
Using Elliott Wave Theory and Fibonacci, I observe that the gold price is currently in wave 4. Rule 3 states: Wave 4 should never enter the territory of wave 1. Additionally, there are guidelines to help count waves more accurately. Unlike the three rules above, these guidelines may be violated. They are: - Conversely, sometimes wave 5 cannot extend beyond the...
"Wave 1: The gold market experiences its initial uptick. This is driven by a small group of individuals who, for some reason, perceive gold prices as cheap and see this as a good buying opportunity. This drives prices up. Wave 2: At this point, some early buyers feel that gold has become overvalued and begin to take profits, causing prices to decline. However,...
Gold Forecast: Short-Term Dip Expected, Long-Term Outlook Remains Bullish" Gold prices are poised to reach 2331, although a temporary decline is anticipated. Despite this, the long-term perspective remains optimistic, with projections indicating a correction around 2280 before ascending towards 2553. Investors are advised to consider buying during these declines...
You can see waves 1, 3, and 5 formed from smaller impulsive 5-wave patterns, while waves 2 and 4 are formed from smaller corrective 3-wave patterns. Always remember that each wave is formed from smaller wave patterns. This model repeats itself indefinitely. On the daily chart, I see wave 4 forming. The RSI is rising high, indicating strong buying pressure. Using...
⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: Gold prices pulled back from all-time highs on Tuesday, dropping to $2,346 after reaching $2,365. This was due to a risk-on sentiment and declining US Treasury yields. The US economic calendar was light, with the NFIB Small Optimism Index falling for the third consecutive month. Traders are now awaiting...
The United States CPI data will be released soon, and it is still the support level to continue to do more. On Tuesday, the gold technical surface rose first and then fell, the Asia-Europe price stabilized 2338 mark ushered in a bull shock up the high, the afternoon further accelerated to break the previous day's high 2353 mark and continued to strengthen to 2365...
Gold has been on a tear in 2024 fueled by a confluence of global uncertainties, the precious metal has seen its price surge nearly 20% since mid-February, reaching a series of all-time highs.expand_more But according to macro fund managers interviewed by Bloomberg, this rally might just be getting started. The Allure of Gold: A Safe Haven in Tumultuous...
I'm sharing with you again one of my trades for this week, You can buy XAUUSD when it reaches 2308.954, SL and TP set them as in the chart. The market will come down to liquidate at 2318.780 to get to our OB before continuing its way up. For further info, don't hesitate to ask!