Gold trading on 1/3/2023Gold price gained traction and climbed above $1,820 after having spent the first half of the day in a tight range near $1,810. Although the benchmark 10-year US T-bond yield stays in positive territory near $3.95%, the renewed US Dollar weakness fuels the pair's rebound on Tuesday.
Financial markets have been a two-tale story for the early part of 2023, in which Gold price has reflected in its price action like no other asset. XAU/USD rode an uptrend during all of January with the market optimism about inflation slowing down and constant Federal Reserve dovish talk, only to see a drastic turnaround back to the old dynamics in February after a hot US Nonfarm Payrolls (NFP) report. The US economy adding more than 500K jobs in the month of January shifted the market expectations for the Fed easing its monetary policy, and the US Dollar has come back to the market King throne.
Gold price opened the year at $1,823.76 and reached a year-to-date high of $1,960 on February 2, right in between the first Federal Reserve meeting of the year and the surprising release of the US jobs report for January. Since then, the ongoing downtrend has been relentless, reaching levels below the yearly open, around $1,800.
Support level: 1,806.50 1,791.20 1,784.60
Resistances: 1,821.60 1,834.00 1,845.99
Trading recommendation:
Sell 1825 1824
Stop loss 1827
Take profit 1: 1810
Take profit 2: 1807
Take profit 3: 1800
Note: Always set TP and SL in all trading cases
If you have any questions or support, please leave a comment
Xauusddaily
XAUUSD - Daily Trade Idea - 13-Feb-23XAUUSD (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Red Candle after the Green Candle.
- Stochastic - Overbought Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 10-Feb-23XAUUSD (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Red Candle after the Green Candle.
- Stochastic - Overbought Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 9-Feb-23XAUUSD (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Red Candle after the Green Candle.
- Stochastic - Overbought Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 8-Feb-23XAUUSD (LONG)- If all the support holds in place.
If we see the Support broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Green Candle after the Red Candle.
- Stochastic - Oversold Area
- Timing of entry Prior / during UK / US Market Session.
GOLD LAYOUT FOR TODAYGold is currently consolidating between 1880-1860 and is in a non-trading range. If there is a break below 1860 and it is confirmed as resistance, go short with a target of 1843.800 and 1835.550. On the other hand, if there is a break above 1870 and it is confirmed as support, go long with a target of 1903.035 and 1917.865. Keep in mind that today is the FOMC speech of Powell, so be cautious and avoid taking random trades. Adopt a sniper-like approach for precise entry points. Stay ahead of the curve with our analysis.
Unleash your trading potential with our in-depth analysis of the gold market. Stay ahead of the game with our latest insights.
XAUUSD - Daily Trade Idea - 7-Feb-23XAUUSD (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Red Candle after the Green Candle.
- Stochastic - Overbought Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 6-Feb-23XAUUSD (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (100 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Red Candle after the Green Candle.
- Stochastic - Overbought Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 2-Feb-23XAUUSD (LONG)- If all the support holds in place.
If we see the Support broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Green Candle after the Red Candle.
- Stochastic - Oversold Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 26-Jan-23XAUUSD (LONG)- If all the support holds in place.
If we see the Support broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Green Candle after the Red Candle.
- Stochastic - Oversold Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to our previous analysis of XAUUSS, GOLD went UP very fast in the previous weeks. Because of the NEGATIVE SENTIMENT against the dollar, US10Y went down due to this. Then I automatically bought GOLD.
But the last day all those INFLATION INDICATORS were NEGATIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF.
We have some very important NEWS coming to USD this week. Be sure to keep an eye on it.
Anyway, we expect GOLD to go up to 2000 LEVEL. Before that, GOLD may go down to the 1903 level with the FOMC UPDATE. Be careful..
XAUUSD - Daily Trade Idea - 25-Jan-23XAUUSD (LONG)- If all the support holds in place.
If we see the Support broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Green Candle after the Red Candle.
- Stochastic - Oversold Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 23-Jan-23XAUUSD (LONG)- If all the support holds in place.
If we see the Support broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Green Candle after the Red Candle.
- Stochastic - Oversold Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 20-Jan-23XAUUSD (LONG)- If all the support holds in place.
If we see the Support broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Green Candle after the Red Candle.
- Stochastic - Oversold Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 17-Jan-23XAUUSD (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Red Candle after the Green Candle.
- Stochastic - Overbought Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 16-Jan-23XAUUSD (LONG)- If all the support holds in place.
If we see the Support broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Green Candle after the Red Candle.
- Stochastic - Oversold Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 13-Jan-23XAUUSD (LONG)- If all the support holds in place.
If we see the Support broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (100 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Green Candle after the Red Candle.
- Stochastic - Oversold Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - Daily Trade Idea - 11-Jan-23XAUUSD (LONG)- If all the support holds in place.
If we see the Support broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Green Candle after the Red Candle.
- Stochastic - Oversold Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, GOLD went UP very fast in the previous weeks, BREAKING the TREND LINE. Due to this US10Y went down.
The dollar has strengthened after the December FOMC. All MARKETS including STOCKS and COMMODITIES are going down slightly due to the OFF of MARKET RISK. RETAIL SALES, NFP and PMI DATA, CPI DATA should be monitored.
But the last day all those ECONOMIC INDICATORS were POSITIVE, so GOLD was slightly SELL. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF.
We have some very important NEWS coming to USD this week. Be sure to keep an eye on it.
Anyway, we expect GOLD to go UP to 1915 LEVEL. Before that, GOLD may go down to the 1830 level with the FOMC UPDATE. Be careful..
XAUUSD - Daily Trade Idea - 9-Jan-23XAUUSD (LONG)- If all the support holds in place.
If we see the Support broken out then we could see the shift in the trend.
I marked the TP 1 (50 pips), TP 2 (100 pips) , TP 3 (200 pips) and EXIT (SL - 100 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry.
- Rejection Candle Formation - Green Candle after the Red Candle.
- Stochastic - Oversold Area
- Timing of entry Prior / during UK / US Market Session.
XAUUSD Chop zoneAtm im waiting for the daily close either below or above 1803 above under is sells over is calls if this next 4 hour comes down to 1800 i will go in with small buy and wait to see if the daily closes above but at the moment we have a daily consolidation candle
If it does decide to rip up the 1814 will be another buy zone for me but I want 1803