courtwann

Price Update!What a great week of gold gains! As per last week's analysis, only buys were considered at key levels, I hope you all followed along. This week I have included my actual analysis report after the trade plan for all to consider.🌍 Market News UpdateNext week’s economic data may provide mixed signals, but the increase in unemployment claims points towards potential economic weakness, which could be bullish for gold as investors look for safe-haven assets.📊 NEWS THIS WEEK 🏦Thu, Oct 24🟢 Unemployment Claims Forecast: 243K | Previous: 241K Increase in unemployment claims (economic weakness) ➝ Lower inflation, weaker dollar ➝ Bullish for gold (as gold becomes a safe haven).Fri, Oct 25🔴 Flash Manufacturing PMI Forecast: 47.5 | Previous: 47.3 Improvement in manufacturing sector ➝ Economic recovery ➝ Stronger dollar ➝ Bearish for gold.🔴 Flash Services PMI Forecast: 55.0 | Previous: 55.2 Strength in the services sector ➝ Supports economic growth ➝ Stronger dollar ➝ Bearish for gold.Trade Plan📉 Sell Entry 1: $2725.35 - $2730.92 – Fibonacci Golden Pocket🔄 $2719.06 – Sell Stop Entry if initial level is missed🎯 TP 1: $2713 – 1-hour Support🎯 TP 2: $2702 – Key Psychological Level🎯 TP 3: $2696.52 – Previous 1-hour Resistance & Break of Structure🎯 TP 4: $2689.44 – Previous 1-hour Support🎯 TP 5: $2685.82 – 4-hour Support🔒 SL 1: $2750 – Psychological Level📈 Buy Entry 1: $2685.82 - $2689.44🔄 $2695.00 – Buy Stop Entry if initial target is missed🎯 TP 1: $2702 – Key Psychological Level🎯 TP 2: $2713 – 1-hour Support🎯 TP 3: $2725.35 - $2730.92 – Fibonacci Golden Pocket🎯 TP 4: $2750 – Psychological Level🔒 SL : $2678.32📈 Buy Entry 2: $2701.00 -$2706.00🔄 $2710.00 – Buy Stop Entry if initial target is missed🎯 TP 1: $2725.35 - $2730.92 – Fibonacci Golden Pocket🎯 TP 2: $2750 – Psychological Level🔒 SL 1: $2693.5As always, our trades are guided by price action. While we can plan in advance, we adapt daily to the market, using key signals and indicators to inform our trading decisions.AnalysisTrend StructurePrice has touched the hourly trendline 3 times across the past 2 weeks, with the 1st touch point being the 1st of the 4hr Trend lineEach of the last 2 legs of this current up-trend has lasted approximately 12 days and 8 hours. The 3rd leg is nearing the same duration, suggesting only 24 more hours of upward pressure before resistance forms.Long term outlook: Daily trend line has been respected on 3 separate occasions in 3 separate months, price likely to reach $2861.05 resistance on the Daily time frame, after price broke the $2466.00 resistance of the range in August 2024 which will conclude the 2nd Leg of the upwards trendKey LevelsResistancePrice is approaching $2725, a key psychological level.Alternatively, the golden pocket Fibonacci extension lies between $2725.35 and $2730.92, with another psychological level at $2750.SupportHourly Support: $2713.01If price breaks below $2713.01 and retests from $2702, it could retrace to form the right shoulder of a head-and-shoulders pattern, with a potential move down to the neckline at $2685.82 (4-hour support).RSIBearish RSI divergence indicates weakening momentum despite the upward trend.Both the 4hr and Daily are > 70 however this could remain and can continue to go higher over the course of the weekVolumeHeavy bullish volume seen between $2706 and $2713 and at $2650. Bulls are likely to maintain control unless heavy selling volume emerges.If price breaks below the $2700 zone, there could be a free fall of 300 points to $2697 as there is little volume in this area, the momentum of the free fall could cause price to test the 4-hour supportPatternsRising Wedge: A bearish reversal pattern identified on the 1-hour chart.Potential Head and Shoulders Pattern: If the price breaks below $2713.01 and retests from $2702, it could form the right shoulder, ideal for a sell setup.ConclusionThe outlook for gold is bullish, with potential bearish retracement catalysts from upcoming PMI data. The technical picture reflects an uptrend nearing exhaustion, as the current leg aligns with the duration of previous upward moves.Key psychological levels, particularly around $2725 to $2730.92, will play a crucial role in determining short-term direction. Heavy bullish volume indicates buyers are still in control, but bearish RSI divergence and reversal patterns such as the rising wedge and potential head-and-shoulders pattern signal the possibility of a pullback.Traders should be cautious if price breaks below $2700.00, as it could trigger a move toward the neckline at $2685.82. Conversely, a continuation above $2730.00 would reinforce the uptrend, targeting $2750.00 and $2861.05 in the longer term.The trade plan provides a balanced approach, with both buy and sell setups prepared to adapt to evolving market conditions. Key levels and patterns will guide decisions, with close monitoring of volume and price action critical for confirming entries. Flexibility will be essential, as economic data may shift sentiment throughout the week.

🚨 Price Update:🏅 Gold prices hit a new high, surging to $2,685.26 📈💰 🌍 Market News UpdateExpect downward pressure on XAUUSD this week due to strong employment figures and steady economic indicators if actuals are same as forecasted.📊 NEWS THIS WEEK 🏦Tue, Oct 1 🔴 Fed Chair Powell Speaks - Hawkish remarks may strengthen USD, bearish for gold.Wed, Oct 2 🟢 ISM Manufacturing PMI - F: 47.6 | Pr: 47.2 - Slight improvement but below 50; may boost gold as a safe haven.🟡 JOLTS Job Openings - F: 7.64M | Pr: 7.67M - Minor decline; minimal impact on gold.🔴 ADP Non-Farm Employment Change - F: 124K | Pr: 99K - Stronger data shows economic resilience; reduces gold demand.Thu, Oct 3 🟢 Unemployment Claims - F: 221K | Pr: 218K - Slight increase; neutral or slightly positive for gold.Fri, Oct 4 🟡 ISM Services PMI - F: 51.6 | Pr: 51.5 - Indicates expansion; stability expected.🔴 Non-Farm Employment Change - F: 144K | Pr: 142K - Increase suggests job growth; improving economy.🔴 US Unemployment Rate - F: 4.2% | Pr: 4.2% - Stable rate indicates continued economic strength; bearish for gold.Trade Entries- Looking at Entries in the green Buy Entry boxes, preferably close to the trend lines📈 Buy Entry 1: $2,645.19 - $2651.19.🔄$2,640.18 – Buy Stop Entry if initial target is a miss🎯 TP 1: $2,680.00🎯 TP 2: $2,700.23🎯TP 3: Leave portion of trade open🔒 SL 1: $2,616.00 – Just below the next key support, minimizing downside risk📈 Buy Entry 2: $2,626.18 - $2634.48.🔄$2,640.18 – Buy Stop Entry if initial target is a miss🎯 TP 1: $2,680.00🎯 TP 2: $2,700.23🎯TP 3: Leave portion of trade open🔒 SL 1: $2,616.00 – Just below the next key support, minimizing downside risk📈 Buy Entry 3: $2,586.54 -$2594.22🔄$2,600.67 – Buy Stop Entry if initial target is a miss🎯 TP 1: $2,640.18🎯 TP 2: $2,680.00🎯TP 3: Leave portion of trade open🔒 SL 2: $2,574.42 – Protecting the entry against further drops, placed below the support zone.As always, our trades are guided by price action. While we can plan in advance, we adapt daily to the market, using key signals and indicators to inform our trading decisions.

📊 XAUUSD Mid-Week Trade Plan – September 25, 2024🚨 Price Update:🏅 Gold prices hit a new high, surging to $2,670.00 📈💰 due to rate cut talks and Middle East tensions.🌍 Market News Update:📉 US consumer confidence dropped, leading to lower Treasury yields and a weaker dollar.🇨🇳 China’s stimulus boosted global markets, driving up metals and mining stocks 📈💼 in Europe and the US.Mid-Week Trade📈 Buy Entry 1: $2,626.18 - $2634.48🎯 TP 1: $2,680.00🎯 TP 2: $2,700.23🎯TP 3: Leave portion of trade open🔒 SL 1: $2,616.00 – Just below the next key support, minimizing downside risk.🔄$2,640.18 – Buy Stop Entry if initial is a miss📈 Buy Entry 2: $2,586.54 -$2594.22🎯 TP 1: $2,640.18🎯 TP 2: $2,680.00🎯TP 3: Leave portion of trade open🔒 SL 2: $2,574.42 – Protecting the entry against further drops, placed below the support zone.🔄$2,600.67 – Buy Stop Entry if initial is a miss📉 Sell Scenario:While the trend remains bullish, only highly experienced traders should consider a sell position in this market. Look for a strong rejection of resistance at $2,670.50 or $2,700.23 for short opportunities. News Update Tomorrow, could provide better Sell opportunities, if News favours USDAs always, our trades are guided by price action. While we can plan in advance, we adapt daily to the market, using key signals and indicators to inform our trading decisions.

🚨 This Week's Trade Plan🚨📉 Overview: We anticipate price action to test Sell Entry 1 around $2,625.75 and possibly $2,632.37 before a drop toward the buy zones.The sell trades have targets at $2,599.31 and $2,587.87.Once price reaches the buy entry zones of $2,599.31 and $2,587.87, we expect a bounce upward toward $2,622.00 and $2,645.54.🔽 Sell Entry 1: $2,625.75 - $2635.75🎯 TP 1: $2,599.31🎯 TP 2: $2,587.87🔒 SL 1: $2,632.37 – Above key resistance, protecting your Sell Entry 1.🔽 Sell Entry 2: $2,650.00 - $2668.00🎯 TP 1: $2,599.31🎯 TP 2: $2,587.87🔒 SL 2: $2,645.00 – Above recent highs, protecting your Sell Entry 2.📈 Buy Entry 1: $2,599.31🎯 TP 1: $2,622.00🎯 TP 2: $2,645.54🔒 SL 1: $2,587.87 – Below key support, protecting your Buy Entry 1.📈 Buy Entry 2: $2,587.87🎯 TP 1: $2,622.00🎯 TP 2: $2,645.54🔒 SL 2: $2,570.00 – Below next support zone, protecting your Buy Entry 2.As always, our trades are guided by price action. While we can plan in advance, we adapt daily to the market, using key signals and indicators to inform our trading decisions.⚠️ Risk Management: Maintain tight stop losses and monitor news events that could trigger volatility.Stay tuned for live updates!Stop Reached for Sell Entry 1 - Now looking at Sell Position 2 🔽 Sell Entry 1: $2,625.75 - $2635.75 🎯 TP 1: $2,599.31 🎯 TP 2: $2,587.87 🔒 SL 1: $2,632.37 – Above key resistance, protecting your Sell Entry 1🔽 Sell Entry 2: $2,650.00 - $2668.00 🎯 TP 1: $2,599.31 🎯 TP 2: $2,587.87 🔒 SL 2: $2,675.00 – Above recent highs, protecting your Sell Entry 2.

🚨 SELL IDEA 🚨🔴 SELL GOLD 📍 Entry: $2608 - $2610🎯 Take Profit 1: $2605🎯 Take Profit 2: $2600🛑 Stop Loss: $2614💡 Commentary: We’re observing a classic head and shoulders pattern, indicating potential downside movement. Enter the trade within the current price range and aim for the provided take profit levels. Make sure to manage your risk accordingly with a stop loss!#GoldSignals #HeadAndShoulders #TradingAlert

🚨 SELL SIGNAL POSTED 🚨🔴 SELL📍 Entry: $2565.8 - $2567.8🎯 Take Profit 1: $2564.8🎯 Take Profit 2: $2563.1🎯 Take Profit 3: $2554.1🛑 Stop Loss: $2574.3💡 Sell Trend: We are expecting downward momentum. Enter within the range for the optimal setup. Manage your risk by setting a stop loss at $2574.3 to protect your capital. Once TP 1 is hit, consider moving your stop to the entry point or securing your profits. Stay patient and let the market work in our favor.📈 Sell Trend ID: M01-13012

🚨 This Weeks Trade Plan 🚨🔽 Sell Entry 1: $2,513.67🔽 Sell Entry 2: $2,488.35📉 We are expecting a drop after the current pullback. Price may retest near $2,488 before continuing downwards.📊 Key Levels:Sell Entry 1: $2,513.67 – Ideal for early sellers looking for confirmation of rejection at this level.Sell Entry 2: $2,488.35 – Safer sell entry after confirmation of the pullback's completion.🎯 Targets:✅ TP 1 (Take Profit 1): $2,470.21✅ TP 2 (Take Profit 2): $2,445.51🚨 Stop Losses:🔒 SL 1 (Stop Loss 1): $2,529.20 – Above key resistance, protecting your Sell Entry 1.🔒 SL 2 (Stop Loss 2): $2,511.00 – Above recent highs, protecting your Sell Entry 2.📈 Expected Move:Anticipate some consolidation around the Sell Entry 2 level before the market continues its downward movement. Potential lower-high formation indicates a bearish continuation below $2,470.21 with a target aiming for $2,445.51.If News forecasts are accurate this week, we can expect to see a short term bearish outlook!⚠️ Trade wisely, and follow risk management!Follow my Channel for updates and Scalping set ups! @goldstar_signals

🚨 Price Update: Gold finished off last week trading at $2,497, hovering around the POC! 📉🔑 Key Levels:Resistance:$2,515-$2,526 🔴 Major resistance; sellers are stepping in.$2,531 🔺 High level if bulls can push higher.Support:$2,454 🟢 Strong support – buyers holding this zone.$2,430 🟡 Minor support, if it breaks, we could see a move down to $2,410-$2,364 📉⚠️📈 Volume Profile:Heavy volume around $2,497 🔄 indicates consolidation before a breakout.Light volume below $2,480 suggests a quick move to $2,454 ⚡️, and if broken, further downside to $2,430-$2,410 📉.🧐 What's Next?If buyers hold $2,454, we could see a push back to $2,515-$2,526 🔄. A break above opens targets to $2,531 🔺.If $2,454 fails, expect a drop to $2,430 and potentially $2,410 📉.👀 Keep an eye on: Price action at the key support & resistance zones!Follow my Channel for updates! @goldstar_signals