### Key Technical Levels & Patterns
1. Resistance Zones:
- $3,365–$3,392: Critical resistance levels. Breaking $3,365 with high volume could signal a bullish breakout, targeting $3,392 and beyond.
- $3,387–$3,357: A broader resistance zone identified by inverse head and shoulders and descending broadening wedge patterns. A break here may confirm an impulsive wave (per Elliott Wave theory).
2. Support Levels:
- $3,328–$3,342: Key support areas. A failure to hold these could trigger a short-term correction.
- $3,304.749: A strong support zone (green zone) that could act as a bearish target if the price breaks below it.
3. Demand Zones:
- $3,356.50: A defined demand zone with confirmed bullish reactions (e.g., wick rejections). Entry suggested just above this level with a stop-loss below $3,344.50.
### Fundamental Drivers
1. Geopolitical Tensions:
- Ukraine-Russia conflict: Escalating tensions are fueling safe-haven demand for gold.
- Middle East instability: Recent escalations are adding pressure on gold as investors seek refuge.
2. U.S.-China Trade Tensions:
- Trump’s threat to double tariffs on steel/aluminum has heightened market uncertainty, pushing investors toward gold.
3. U.S. Dollar Weakness:
- A weaker dollar (e.g., USD index near monthly lows) supports gold prices, as gold is priced in USD.
4. Federal Reserve Policy:
- Market expectations of a September rate cut and potential December cuts are bullish for gold. Powell’s speech could trigger volatility.
### Trading Strategies
1. Bullish Breakout Setup:
- Entry: Above $3,365–$3,372 with tight stop-loss (e.g., $3,360).
- Targets: $3,392 (short-term) and $3,400–$3,450 (mid-term).
- Risk Management: Strict stop-loss below $3,325 to protect against false breakouts.
2. Scalping Opportunities:
- Key Scalp Zones: $3,332–$3,352 (intraday pullbacks).
- Strategy: Buy on dips near $3,328–$3,342 if the price stabilizes.
### Key Watchpoints
- $3,365: A critical level for confirming bullish momentum.
- $3,325: A psychological support level that could act as a short trigger if broken.
- Fed Chair Powell’s Speech: Potential for emotional moves or reversals.
- Volume Confirmation: High volume on breakout levels (e.g., $3,365) is essential for validity.
### Risk Management & Recommendations
1. Stop-Loss Discipline:
- Always place stops below key support levels (e.g., $3,325) to limit losses.
- Avoid holding positions without a clear plan.
2. Position Sizing:
- Use smaller positions in volatile environments to manage risk.
3. Monitor Volatility:
- Gold may experience sharp swings due to geopolitical and macroeconomic factors. Stay alert.
4. Follow Trends:
- Short-term: Focus on $3,325–$3,392 range.
- Mid-term: Watch for a breakout above $3,400, targeting $3,450–$3,480.
### Conclusion
Gold is in a bullish phase, driven by geopolitical risks, weak USD, and Fed policy expectations. Key levels like $3,365 and $3,392 are critical for confirming momentum. Traders should focus on breakout strategies, scalping in pullbacks, and strict risk management. However, always do your own research and consult a financial advisor before making trades.
Final Note: The market is volatile, and news events (e.g., Powell’s speech) could cause rapid reversals. Stay informed and flexible! 🚀
1. Resistance Zones:
- $3,365–$3,392: Critical resistance levels. Breaking $3,365 with high volume could signal a bullish breakout, targeting $3,392 and beyond.
- $3,387–$3,357: A broader resistance zone identified by inverse head and shoulders and descending broadening wedge patterns. A break here may confirm an impulsive wave (per Elliott Wave theory).
2. Support Levels:
- $3,328–$3,342: Key support areas. A failure to hold these could trigger a short-term correction.
- $3,304.749: A strong support zone (green zone) that could act as a bearish target if the price breaks below it.
3. Demand Zones:
- $3,356.50: A defined demand zone with confirmed bullish reactions (e.g., wick rejections). Entry suggested just above this level with a stop-loss below $3,344.50.
### Fundamental Drivers
1. Geopolitical Tensions:
- Ukraine-Russia conflict: Escalating tensions are fueling safe-haven demand for gold.
- Middle East instability: Recent escalations are adding pressure on gold as investors seek refuge.
2. U.S.-China Trade Tensions:
- Trump’s threat to double tariffs on steel/aluminum has heightened market uncertainty, pushing investors toward gold.
3. U.S. Dollar Weakness:
- A weaker dollar (e.g., USD index near monthly lows) supports gold prices, as gold is priced in USD.
4. Federal Reserve Policy:
- Market expectations of a September rate cut and potential December cuts are bullish for gold. Powell’s speech could trigger volatility.
### Trading Strategies
1. Bullish Breakout Setup:
- Entry: Above $3,365–$3,372 with tight stop-loss (e.g., $3,360).
- Targets: $3,392 (short-term) and $3,400–$3,450 (mid-term).
- Risk Management: Strict stop-loss below $3,325 to protect against false breakouts.
2. Scalping Opportunities:
- Key Scalp Zones: $3,332–$3,352 (intraday pullbacks).
- Strategy: Buy on dips near $3,328–$3,342 if the price stabilizes.
### Key Watchpoints
- $3,365: A critical level for confirming bullish momentum.
- $3,325: A psychological support level that could act as a short trigger if broken.
- Fed Chair Powell’s Speech: Potential for emotional moves or reversals.
- Volume Confirmation: High volume on breakout levels (e.g., $3,365) is essential for validity.
### Risk Management & Recommendations
1. Stop-Loss Discipline:
- Always place stops below key support levels (e.g., $3,325) to limit losses.
- Avoid holding positions without a clear plan.
2. Position Sizing:
- Use smaller positions in volatile environments to manage risk.
3. Monitor Volatility:
- Gold may experience sharp swings due to geopolitical and macroeconomic factors. Stay alert.
4. Follow Trends:
- Short-term: Focus on $3,325–$3,392 range.
- Mid-term: Watch for a breakout above $3,400, targeting $3,450–$3,480.
### Conclusion
Gold is in a bullish phase, driven by geopolitical risks, weak USD, and Fed policy expectations. Key levels like $3,365 and $3,392 are critical for confirming momentum. Traders should focus on breakout strategies, scalping in pullbacks, and strict risk management. However, always do your own research and consult a financial advisor before making trades.
Final Note: The market is volatile, and news events (e.g., Powell’s speech) could cause rapid reversals. Stay informed and flexible! 🚀
İşlem aktif
Still we are on the plan and up trend has just started: TP1: 3373
TP2: 3386
TP3: 3399
SL: 3319.37
İşlem kapandı: hedefe ulaştı
TP1 and TP2 hit. TP3 should adjust to 3392 (however there is a possibility to rise to 3405)
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.