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No attacks just gold trades/analysis

  • #5,781
  • Jul 17, 3:45am (13 hr ago) Jul 17, 3:45am (13 hr ago)
Gold(XAUUSD) outlook and trade setup for the day.

Yesterday we saw a decline of around 2%, following to which price broke below important support of 3983, now its consolidating in a sideways range of 4008 - 3968.

structurally its evident that after making fresh low price has shown its tendency to revert back to it's major bearish trendline, hence an up-move could be expected for the retest of major bearish trendline, only if price breaks the level of 4008.77.

The downtrend seems to be exhausting as each time it breaches below previous swings lows, its showing comparatively smaller moves. May be the breakout of the trend is near.

For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.

Regards CrazyTrades247.
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  • #5,782
  • Jul 17, 3:52am (13 hr ago) Jul 17, 3:52am (13 hr ago)
Quoting canyouu
{quote} A buy at 3985-80, sl at 3968 , buy and hold , this is a buy at major demand after several attempt to sell further failed, this could lead to a buy above 4100 next week to test 4115-20 before the major sell begins again. {image} A buy at 3985-80, sl at 3968 , buy and hold , this is a buy at major demand after several attempt to sell further failed, this could lead to a buy above 4100 next week to test 4115-20 before the major sell begins again.
hello brother, do you feel this was not the major sell we’re looking for, and it might try to breach 4200 ( around 4300-20 ) before major sells going beyond 3800’s.
Asking on a longer time frame
  • #5,783
  • Jul 17, 3:54am (13 hr ago) Jul 17, 3:54am (13 hr ago)
Quoting Amrb77
{quote} hello brother, do you feel this was not the major sell we’re looking for, and it might try to breach 4200 ( around 4300-20 ) before major sells going beyond 3800’s. Asking on a longer time frame
i am thinking we could go beyond 4100 but i dont know but thats what i am aiming this time, a big move upside.

Maybe i am wrong,

Cheers
  • #5,784
  • Jul 17, 4:00am (13 hr ago) Jul 17, 4:00am (13 hr ago)
Quoting mloistianto
{quote} i am thinking we could go beyond 4100 but i dont know but thats what i am aiming this time, a big move upside. Maybe i am wrong, Cheers
Overall still bearish on the higher TF, but a correction move is due. CPI and PPI prints came in gold-friendly, and we’ve also got an unfilled gap sitting there. It’s Friday... anything can happen.
  • #5,785
  • Jul 17, 4:04am (13 hr ago) Jul 17, 4:04am (13 hr ago)
Quoting canyouu
{quote} A buy at 3985-80, sl at 3968 , buy and hold , this is a buy at major demand after several attempt to sell further failed, this could lead to a buy above 4100 next week to test 4115-20 before the major sell begins again. {image} A buy at 3985-80, sl at 3968 , buy and hold , this is a buy at major demand after several attempt to sell further failed, this could lead to a buy above 4100 next week to test 4115-20 before the major sell begins again.
over an 1hr and it still hasn’t gotten to our entry. My goodness
  • #5,786
  • Jul 17, 4:05am (13 hr ago) Jul 17, 4:05am (13 hr ago)
Quoting mloistianto
{quote} i am thinking we could go beyond 4100 but i dont know but thats what i am aiming this time, a big move upside. Maybe i am wrong, Cheers
I don’t see any reason to push down besides war news. I’m eyeing bullish month end 4300-4400 major before sells in August. On a broader perspective
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  • #5,787
  • Jul 17, 4:17am (13 hr ago) Jul 17, 4:17am (13 hr ago)
Quoting SomeProfit
Buy entry 3990 SL 3980 TP 4040 after 3h
Put my SL to entry, TP remains same, have a good weekend
  • #5,788
  • Jul 17, 4:44am (12 hr ago) Jul 17, 4:44am (12 hr ago)
I wouldn’t be surprised if they kept the price here within 3090-4010 until NY steps in.
  • #5,789
  • Jul 17, 4:53am (12 hr ago) Jul 17, 4:53am (12 hr ago)
Quoting Amrb77
{quote} hello brother, do you feel this was not the major sell we’re looking for, and it might try to breach 4200 ( around 4300-20 ) before major sells going beyond 3800’s. Asking on a longer time frame


Based on price action this morning i don't think this is the major sell, though it's showing that next week too it would sell,
but it will likely buy to test 4115-20 before it sells to possibly close below 3940 to signal another long term sells and that could lead to another major retracement that could start sell from 4100 or even go to 4300 before the sell.
  • #5,790
  • Jul 17, 5:00am (12 hr ago) Jul 17, 5:00am (12 hr ago)
Quoting canyouu
{quote} Based on price action this morning i don't think this is the major sell, though it's showing that next week too it would sell, but it will likely buy to test 4115-20 before it sells to possibly close below 3940 to signal another long term sells and that could lead to another major retracement that could start sell from 4100 or even go to 4300 before the sell.
thank you for your reply on this. Trying to understand more in depth
  • #5,791
  • Jul 17, 6:17am (11 hr ago) Jul 17, 6:17am (11 hr ago)
I expect an amazing sell on gold as the NY session begins shortly. Been waiting for hours and hopefully it pays off. Hope you're in already with proper risk management.
  • #5,792
  • Jul 17, 6:46am (10 hr ago) Jul 17, 6:46am (10 hr ago)
Quoting Amrb77
I wouldn’t be surprised if they kept the price here within 3090-4010 until NY steps in.
Hey what is your bias today
  • #5,793
  • Jul 17, 7:23am (10 hr ago) Jul 17, 7:23am (10 hr ago)
Quoting Tradejourna
{quote} Hey what is your bias today
still looking at longs, maybe after sweeping from below.
Ny likes to play both ways
I have my Sl a little bit more down. Lots small so I wouldn’t be mad if it doesn’t go in our direction
  • #5,794
  • Jul 17, 7:29am (10 hr ago) Jul 17, 7:29am (10 hr ago)
Quoting canyouu
{quote} A buy at 3985-80, sl at 3968 , buy and hold , this is a buy at major demand after several attempt to sell further failed, this could lead to a buy above 4100 next week to test 4115-20 before the major sell begins again. {image} A buy at 3985-80, sl at 3968 , buy and hold , this is a buy at major demand after several attempt to sell further failed, this could lead to a buy above 4100 next week to test 4115-20 before the major sell begins again.


Activated let see how it goes
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Activated let see how it goes
  • #5,795
  • Jul 17, 7:41am (9 hr ago) Jul 17, 7:41am (9 hr ago)
I'm sure I gave you a good trade today. Enjoy your weekend, traders. We will meet again next week. Withdraw and spend time with your family
  • #5,796
  • Jul 17, 7:45am (9 hr ago) Jul 17, 7:45am (9 hr ago)
Quoting canyouu
{quote} Activated let see how it goes {image} Activated let see how it goes
A very quick sl, although I didn't take the buy because I was in sells from 3998 and as per my analysis, I think gold will reach 3930-3940 today.
  • #5,797
  • Jul 17, 7:45am (9 hr ago) Jul 17, 7:45am (9 hr ago)
Quoting GreatDee
I'm sure I gave you a good trade today. Enjoy your weekend, traders. We will meet again next week. Withdraw and spend time with your family
In sells from 3998.

I'm targeting 3940. What's your expected TP?
  • #5,798
  • Jul 17, 7:55am (9 hr ago) Jul 17, 7:55am (9 hr ago)
Quoting canyouu
{quote} A buy at 3985-80, sl at 3968 , buy and hold , this is a buy at major demand after several attempt to sell further failed, this could lead to a buy above 4100 next week to test 4115-20 before the major sell begins again. {image} A buy at 3985-80, sl at 3968 , buy and hold , this is a buy at major demand after several attempt to sell further failed, this could lead to a buy above 4100 next week to test 4115-20 before the major sell begins again.


Unfortunately it failed and there might not be an entry again but I will still monitor if it will give a sell entry by coming up because this move could be a sell signal confirmation before the ideal sell begins after retracement so be around we could get entry since the day is not over yet
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Unfortunately it failed and there might not be an entry again but I will still monitor if it will give a sell entry by coming up because this move could be a sell signal confirmation before the ideal sell begins after retracement so be around we could get entry since the day is not over yet
  • #5,799
  • Jul 17, 8:04am (9 hr ago) Jul 17, 8:04am (9 hr ago)
Quoting akhunkhan
{quote} In sells from 3998. I'm targeting 3940. What's your expected TP?
Enjoy your weekend and spend time with your family. Family comes first
  • #5,800
  • Edited 8:33am Jul 17, 8:08am (9 hr ago) | Edited 8:33am
Quoting canyouu
{quote} Unfortunately it failed and there might not be an entry again but I will still monitor if it will give a sell entry by coming up because this move could be a sell signal confirmation before the ideal sell begins after retracement so be around we could get entry since the day is not over yet{image} Unfortunately it failed and there might not be an entry again but I will still monitor if it will give a sell entry by coming up because this move could be a sell signal confirmation before the ideal sell begins after retracement so be around we...

A sell at 3987-92, sl at 4010,
this is a sell at demand turned resistance after market gave a sell
confirmation by clearing below 3970 to signal sell continuation.
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A sell at 3987-92, sl at 4010,
this is a sell at demand turned resistance after market gave a sell
confirmation by clearing below 3970 to signal sell continuation.
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