GOLD Is Very Bearish! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 45m
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 3,304.80.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 3,261.30 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Gold
GOLD SENDS CLEAR BULLISH SIGNALS|LONG
GOLD SIGNAL
Trade Direction: long
Entry Level: 3,299.27
Target Level: 3,358.08
Stop Loss: 3,259.94
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 1h
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Gold is still Strong; Long-Term!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈GOLD has been overall bullish from a macro perspective trading within the rising wedge pattern in orange.
After rejecting the $3,500 round number and upper bound of the wedge, XAUUSD signaled the start of the correction phase.
Moreover, the $3,100 - $3,150 zone is a strong support.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower orange trendline acting non-horizontal support.
📚 As per my trading style:
As #XAUUSD approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
GOLD April Rally Continues📉 Flash Corrections and New Highs:
Gold has shown sharp swings, dropping to $3,287 per ounce and swiftly hitting a historic high of $3,500. These moves are not chaos but reflect deep processes within the global financial system.
🔍 Key Drivers of Today’s Gold Market
1️⃣ Geopolitics on Edge:
Trade wars between the US and China, political instability, and the upcoming US elections have fueled demand for safe assets. Central banks continue purchasing gold at a pace exceeding 1,000 tons per year, challenging the dominance of the US dollar.
2️⃣ Stagflation and Fed Policy:
Markets are pricing in rate cuts, traditionally strengthening gold’s position. Even short-term easing of geopolitical tensions hasn’t derailed the bullish trend — inflation expectations and weakening consumer confidence keep pushing prices upward.
3️⃣ China as a Major Player:
It’s not just state-level purchases — retail demand among China’s Gen Z is hitting new highs. Institutional mandates requiring gold holdings further tighten global supply, reinforcing upward pressure.
📊 Technical Outlook : Where to Look for Entry Points
Support Levels: $3,260 – $3,280
Resistance Levels: $3,420 and the psychological barrier at $3,500
April followed a classic scenario: breakout to new highs, profit-taking, and return to key levels for position re-entry. For the attentive investor, this isn’t a reason for panic but an opportunity to reload into a long-term bullish trend.
Gold is not just an asset — it’s a barometer of trust in the global financial system. Every time the system falters, gold shines brighter.
Conclusion
The gold market in April 2025 is a textbook example of how global risks turn into opportunities for those ready to act. Volatility only scares those who don’t understand it.
As always, stay one step ahead.
Best regards, EXCAVO
_____________________
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Gold. Further downside is possible.Hey traders and investors!
Gold price bounced from a contextual level 3283 — the correction low within the dominant buyer’s initiative on the daily timeframe.
Further downside is possible. Watching levels 3381 and 3283.
The structure in this post is based on the logic of Initiative Analysis (IA).
Gold Analysis – New Leg of Correction Incoming?It’s been a “special” week for Gold, with wild swings that kept me mostly on the sidelines – except for Monday’s take profit. Now, however, the market is starting to show more clarity.
❓ Has the Market Topped Out?
After a dip to 3260, the price reversed sharply, gaining over 1,000 pips to reach 3367. Yet, both recent attempts to push higher were rejected.
Now, with the spike from 3360 to 3500 looking like a blow-off top, the stage seems set for a new leg of correction.
🔍 Key Technical Signs:
• Heavy selling pressure near recent highs.
• Price action suggests buyers are exhausted.
• 3370 becomes a key resistance – as long as it holds, bearish setups are favored.
📉 Trading Plan:
My approach is simple:
👉 Sell rallies
🎯 Target: a 1,000+ pip drop if 3370 remains intact.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Gold fluctuates at high levels, market analysisOn Thursday, as the Fed's speech pushed up expectations of rate cuts, the US dollar index fell back and eventually closed down 0.611% at 99.29. US Treasury yields fell, with the benchmark 10-year Treasury yield closing at 4.325%; the two-year Treasury yield, which is more sensitive to monetary policy, closed at 3.805%.
Boosted by the dollar's retreat and bargain hunting, spot gold rebounded sharply, reaching a high of 3367.32, and finally closed up 1.84% at 3348.73.
From a technical point of view, the daily line stood firmly above the 10-day moving average, which is an important reason for the current extremely strong unilateral trend of gold. For the time being, the daily mid-term Bollinger has not closed, and don't guess the top of the rise. Look at 3420 first, and then look at the gains and losses of 3500. If it breaks, don't guess the high. The performance of H4 mid-term is obvious. The bottom is above the lower Bollinger band and the 60-day moving average, and the Bollinger band is just closing. This is a very obvious performance of stopping the decline and bottoming out. Now the Bollinger band is closing. From 3260, it will take at least 3500 to the upper Bollinger band, so this range is very large. The band bullish trend has just begun, so just stick to the bullish trend on Friday. Since the direction is determined, intraday trading will wait for a pullback to go long. For the support below, pay attention to the vicinity of 3340, and continue to look at the 3370-3380 area above, and then focus on the 3300 mark; as for the upper resistance, pay attention to the 3386 area first.
Overall, the short-term operation strategy of gold today is recommended to focus on callbacks and longs, supplemented by rebounds and high-altitudes. The short-term focus on the upper side is 3370-3380 resistance, and the short-term focus on the lower side is 3330-3320 support.
Buy range: 3330-3328, SL: 3318, TP: 3350-3360
Sell range: 3368-3370, SL: 3380, TP: 3350-3340
Key points:
First support: 3330, second support: 3320, third support: 3310
First resistance: 3370, second resistance: 3380, third resistance: 3390
XAUUSD Price Outlook – Bearish Setup in Play ??Asset Overview
The chart represents a price action analysis with support and resistance zones, along with EMA indicators (50 and 200), likely on a 4H or 1H timeframe.
Key Technical Levels
Resistance Zone: ~3,400 to 3,450
First Support Zone: ~3,230 to 3,250
Second Support Zone: ~3,090 to 3,130
Indicators
EMA 50 (Red): Currently around 3,340, acting as dynamic resistance.
EMA 200 (Blue): Positioned near 3,232, reinforcing the first support zone.
Price Action Insight
Price had a strong uptrend, peaking above 3,440 before pulling back.
A lower high may be forming, suggesting possible trend exhaustion.
The current bounce appears to be a retracement back toward resistance or EMA 50.
Projected Move (As Illustrated on Chart)
Short-term bullish move into the resistance zone (~3,400–3,450).
Failure to break above resistance leads to sharp rejection.
Price retraces to first support zone (aligned with EMA 200).
If support fails, deeper drop expected toward the lower support zone (~3,100).
Strategic Notes
📉 Bearish Bias if price fails to break above resistance.
🔍 Watch for bearish candlestick patterns or divergences near resistance.
🛡️ First support aligns with EMA 200, making it a critical level for bulls to defend.
🔻 Breakdown below 3,230 opens room for larger correction to 3,100–3,090.
Conclusion
Currently, the chart suggests a potential short opportunity if price confirms rejection at resistance. The EMA cross structure remains bullish long-term, but momentum is weakening, and failure to reclaim highs could shift sentiment bearish in the short to mid-term.
"XAU/USD at Crucial Support Zone"📈 Chart Overview
Instrument: Likely XAU/USD (Gold vs USD)
Date: April 22, 2025
Timeframe: Appears to be a short-term chart (possibly 1H or 4H)
🧠 Key Technical Elements
1. Exponential Moving Averages (EMAs)
50 EMA (Red): Currently at 3,406.818 — acting as short-term dynamic support/resistance.
200 EMA (Blue): Currently at 3,277.286 — indicating long-term trend direction.
The price is well above the 200 EMA, indicating a bullish long-term trend. However, it’s now testing the 50 EMA, suggesting a potential short-term inflection point.
2. Support and Resistance Zones
Immediate Resistance Zone: Around 3,430 – 3,440, which price recently rejected.
Key Support Zone: Around 3,385 – 3,390 (labeled “FOCUS ON THIS POINT”), which aligns closely with the 50 EMA.
Lower Support Zones:
3,310 – 3,320
3,240 – 3,260
🔍 Technical Scenarios Outlined on Chart
✅ Bullish Scenario (Upper Arrow Path)
If the price holds above the 3,385 support zone, especially with support from the 50 EMA:
We may see a bounce back to test and potentially break above the 3,430 resistance.
This would confirm a continuation of the uptrend.
⚠️ Bearish Scenario (Lower Arrow Path)
If the price fails to hold above 3,385:
A breakdown may lead to a drop toward 3,320, with possible continuation toward 3,240.
This would indicate a short-term bearish correction within a longer bullish trend.
🔑 Critical Price Level
Focus on the 3,385 zone — This is a confluence area where:
Horizontal support meets
50 EMA is located
A potential decision point for bulls vs. bears
🧭 Trading Strategy Considerations
For Bulls:
Look for bullish candlestick formations or volume confirmation near the 3,385 level.
Target a retest of the 3,430+ area with stops below 3,375.
For Bears:
Watch for strong bearish breakdown below 3,385.
First target: 3,320, second: 3,240, with stop-loss above 3,400.
📌 Conclusion
The chart illustrates a key inflection point. Price is at a decision zone — hold and bounce = continuation of bullish momentum, break = short-term correction. All eyes on how price reacts at the 50 EMA and support zone near 3,385.
Bearish Reversal in Play! | Key EMA Rejection & Support Targets🔍 Chart Analysis Summary
🕐 Timeframe: Likely a short-term (H1 or H4) chart.
📈 Asset: Most probably XAU/USD (Gold) or a similar asset.
🔴 Trend Breakdown
📍 Previous Trend:
✅ Strong bullish momentum 📈 pushing price into a resistance zone.
📍 Current Price Action:
🚨 Bearish rejection from resistance 🟥
Price got rejected exactly at the resistance zone (gray box) and the EMA 50 line 🔴 — a classic setup for a reversal ⚠️
📉 Key Technical Levels
🟦 Resistance Zone:
🔹 Between 3,385 – 3,400 USD
🧱 This zone rejected price strongly (see red candles)
📌 Also aligned with EMA 50 (3,400.837) — confluence adds strength 💪
🟩 Support Zones:
First Support Zone – ~3,285 📉
💙 In line with the EMA 200 (3,285.687)
🛡️ Might cause a temporary bounce 📈
Second Support Zone – ~3,240
📉 Marked as the deeper support in the bear case 🕳️
💥 If the first support breaks, this becomes the next target 🎯
📊 Indicator Insights
EMA 50 (🔴 Red): 3,400.837 – acting as dynamic resistance 😤
EMA 200 (🔵 Blue): 3,285.687 – acting as dynamic support 🛡️
📉 Price breaking below EMA 50 = first bearish sign
📉 Approaching EMA 200 = watch for either a bounce 🏀 or a breakdown 💥
🎯 Bearish Setup Forecast
📉 Here's what the arrows show (strategy logic):
📉 Breakdown below resistance → strong bearish move
🎯 Target 1: First support (EMA 200 / ~3,285)
🔄 Minor pullback possible (fake bounce 🪃)
💣 Continuation lower toward next support (~3,240)
📌 Critical Zone to Watch 🔍
⚫️ The circle marked “FOCUS ON THIS POINT” is key:
📌 Failed retest = confirmation of resistance
📌 Price rejected this level + closed below = strong bearish signal 🚨
🧠 Professional Insights
Element Observation Emoji
Trend Shift Bullish ➡️ Bearish reversal 🔄📉
Momentum Bearish pressure increasing 💨🟥
Risk Point Resistance near EMA 50 ⚠️🧱
Trade Idea Short toward supports 📉🎯
Confirmation Rejection candle after retest 🕯️🔁
Focus Level EMA confluence near resistance 🎯📌
🛠️ Possible Trade Plan (for educational purposes only)
Short Entry: Below 3,385 (after rejection 🔻)
Stop-Loss: Above 3,405 (above EMA 50 🛑)
Target 1: 3,285 🧲
Target 2: 3,240 📉
$BTC $GOLD Performance% Comparison Chart (Apr '24-Apr '25)Performance% Comparison Chart (Apr '24-Apr '25)...
CRYPTOCAP:BTC surges back, locking in a 42% gain alongside TVC:GOLD over a year! S&P 500 shows life, but #Oil is the big loser, taking the biggest hit with a brutal -26% decline. Let's watch the shifts! But where does the momentum go next?!🤔
CRYPTOCAP:BTC TVC:GOLD SP:SPX MARKETSCOM:OIL
Cheers!
Gold’s Next Trap? Don't Blink“Gold’s Next Trap? Don't Blink. 👀💣”
📅 Daily XAUUSD Sniper Plan – April 25, 2025
Clean structure. No noise. Just logic.
🧭 MARKET CONTEXT
• Macro: No major USD catalyst. Yesterday's Unemployment Claims were neutral → price action driven by structure & liquidity.
• Sentiment: Gold remains in premium territory but failed to hold above 3355 in NY → suggesting smart money profit-taking.
• HTF Bias: Bullish (D1 trend intact, HLs hold)
• LTF Flow: Bearish intraday – CHoCH & BOS on M30-H1
• Key Event Backdrop: Powell not speaking today, but market still reflects uncertainty from recent Trump vs. Powell tensions.
📐 STRUCTURE & SMC FLOW
• M30–H1: Internal CHoCH formed after price failed to break above 3355
• Liquidity: Sweeps above 3353 and below 3312 → now hovering around internal equilibrium
• SMC Confluence: OBs, FVGs, and EMA alignment used for all entries
• FIB Zones: Discount for buys (3280–3310), Premium for sells (3385+)
🔻 SELL SCENARIOS
Sell #1 – 3385–3392
🧨 Premium retest zone + H1 OB + Gap mitigation
• SL: 3401
• TP1: 3355
• TP2: 3333
• TP3: 3306
🎯 Confluence: H1 OB, NY liquidity above, internal CHoCH
Sell #2 – 3411–3422
💣 Extended premium fill – final imbalance trap
• SL: 3432
• TP1: 3372
• TP2: 3333
• TP3: 3306
🎯 Confluence: Unmitigated FVG + fib extension 1.272 + clean wick rejection zone
🟢 BUY SCENARIOS
Buy #1 – 3333–3338
🔋 HTF OB + H4 structure demand
• SL: 3322
• TP1: 3360
• TP2: 3385
• TP3: 3410
🎯 Confluence: HTF FVG, historical bounce zone, EMA100 support
Buy #2 – 3284–3288
🧱 Sniper reentry zone from structure base
• SL: 3270
• TP1: 3312
• TP2: 3340
• TP3: 3372
🎯 Confluence: Previous sniper entry, structure HL, strong OB zone
📊 TREND RECAP
• HTF Trend: Bullish
• LTF Structure: Currently in retracement mode
• Bias: Neutral to bearish for early London, bullish only on clean 3333 reaction or deeper dip to 3284
🫂 COMMUNITY CALL
"Gold’s Next Trap? Don't Blink. 👀💣"
Will 3450 Hold? Or is Gold Just Getting Started? 🔄🧠
Which setup are you watching tomorrow? Let’s catch these sniper entries together – drop your bias in the comments 💬👇
TradingView's been too quiet lately – if this helped, hit that ❤️ and show some love.
Let’s grow this smart gold tribe together!
Smart plans, no hype. If you’re riding gold with logic, drop a 💡 below and let's connect!
Possible H&S Forming – It’s All About the News NowOANDA:XAUUSD
📉 Watching closely: Possible Head and Shoulders formation developing on the 4H and 1H charts
As of April 24, 2025, Gold (XAU/USD) is forming a potential Head and Shoulders pattern on the shorter timeframes (4H and 1H), which could indicate a reversal setup. While multiple scenarios are still in play, the price action around the $3368 level will be crucial.
If price fails to break above this resistance in the near term, it could suggest weak bullish momentum and open the door for a pullback toward and possibly below the neckline around $3250 .
🔔 Key Economic Events – April 24
08:30 EDT – Durable Goods Orders MoM
Forecast: +2.0%
Personal outlook: Numbers might come in weaker than forecasted.
Durable goods orders are a solid gauge of industrial demand. Weaker-than-expected numbers would likely weaken the USD and could offer some upside pressure on Gold.
10:00 EDT – Existing Home Sales
Forecast: Lower than previous.
As a key barometer of consumer confidence and economic stability, lower-than-expected figures could also put pressure on the USD, potentially providing Gold a short-term bullish impulse.
📊 Potential Scenarios
Scenario 1 – Bullish Breakout
Weak economic data → USD weakens → Gold spikes above $3400
If both data points disappoint, we could see a rally in Gold, possibly breaking the resistance and invalidating the H&S pattern.
Scenario 2 – Bearish Breakdown (Preferred H&S Scenario)
Strong data → USD strengthens → Gold falls below $3200
While less likely, if economic data comes in stronger than forecasted, Gold could see a significant drop, forming the right shoulder and breaking the neckline – confirming the Head & Shoulders reversal.
Scenario 3 – Sideways Movement
Neutral data + Tariff talks in focus
In the absence of impactful data or if figures come in as expected, Gold might consolidate sideways. Ongoing developments around US-China tariff negotiations could dominate sentiment, delaying or nullifying the H&S pattern entirely.
📉 Market Sentiment Snapshot
US stocks are rallying on optimism around tariff reductions
Trump administration signaling potential easing of China tariffs
➡️ Gold under pressure as risk-on sentiment rises
📍 Conclusion
Keep an eye on the $3368 level and $3250 neckline. Short-term moves will likely be dictated by today’s economic releases and the evolving trade narrative. A confirmed break below the neckline would validate the bearish H&S scenario with potential downside toward $3200 and below.
👉 Stay nimble and trade the reaction, not just the forecast.
-------------------------------------------------------------------------
This is just my personal market idea and not financial advice! 📢 Trading gold and other financial instruments carries risks – only invest what you can afford to lose. Always do your own analysis, use solid risk management, and trade responsibly.
Good luck and safe trading! 🚀📊
GOLD - WAVE 4 CORRECTION TO $2,800GOLD - WAVE 4 CORRECTION TO $2,800
This video analysis is leading on from our long term target for $6,200 which I posted yesterday. We can see from the strong impulse move up, the entire bullish cycle is not complete yet & has more upside, AFTER a healthy correction.
Confluences👇
⭕️Wave 3 Peaked at Psychological Number of $2,500 (LQ Point).
⭕️Wave 4 & 5 Pending.
⭕️Overbought Market Conditions.
GOLD DAILY CHART ROUTE MAP UPDATE
Hey Everyone,
Another smashing day on the charts today with our analysis playing out perfectly. This is an update from yesterday, which you can read below for continuity.
After completing the target yesterday we stated We are now looking for support above the channel top for a continuation or a ema5 lock inside the channel will see price play back into the channel levels.
- We got the support and bounce just outside the channel, just like we said and perfectly inline with our plans to buy dips.
This is now a crucial range test with either support here for a continuation or a break back into the channel. We will be looking for ema5 to confirm the break or failure to identify rejection.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
YESTERDAYS UPDATE
Hey Everyone,
After updating our 1H and 4h chart idea last two days, please see update on our daily chart idea also playing out perfectly.
On our last update we stated that we were seeing price break out of the channel but will need ema5 to lock outside of the channel to confirm the breakout into the next level.
We got the candle body above 3297 and ema5 lock opening 3433 - This was hit perfectly completing this target. No further close above this level confirmed the rejection.
We are now looking for support above the channel top for a continuation or a ema5 lock inside the channel will see price play back into the channel levels.
This is the beauty of our Goldturn channels, which we draw in our unique way, using averages rather than price. This enables us to identify fake-outs and breakouts clearly, as minimal noise in the way our channels are drawn.
We will use our smaller timeframe analysis on the 1H and 4H chart to buy dips from the weighted Goldturns for 30 to 40 pips clean. Ranging markets are perfectly suited for this type of trading, instead of trying to hold longer positions and getting chopped up in the swings up and down in the range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up using our smaller timeframe ideas.
Our long term bias is Bullish and therefore we look forward to drops from rejections, which allows us to continue to use our smaller timeframes to buy dips using our levels and setups.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
GOLD - WAVE 4 CORRECTION TO $2,800This video analysis is leading on from our long term target for $6,200 which I posted yesterday. We can see from the strong impulse move up, the entire bullish cycle is not complete yet & has more upside, AFTER a healthy correction.
Confluences👇
⭕️Wave 3 Peaked at Psychological Number of $2,500 (LQ Point).
⭕️Wave 4 & 5 Pending.
⭕️Overbought Market Conditions.
XAUUSD Sniper Plan – April 24, 2025🟡 XAUUSD Sniper Plan – April 24, 2025
Post-Claims Setup | No Bounce Nonsense. Just Zones That Hit.
🔻 SELL ZONES – Premium Rejections Only
SELL #1 – 3384–3392
📌 HTF Flip Zone + FVG + EMA100
SL: 3400 | TP1: 3355 | TP2: 3320 | TP3: 3288
SELL #2 – 3408–3416
📌 Imbalance Gap 3411 + OB + NY Spike
SL: 3425 | TP1: 3375 | TP2: 3345 | TP3: 3315
SELL #3 – 3448–3455
📌 HTF OB + Fibo Extension + Trap Risk
SL: 3465 | TP1: 3415 | TP2: 3380 | TP3: 3340
🟢 BUY ZONES – Real Demand Only
BUY #1 – 3310–3316
📌 CHoCH + M30 OB + RSI Divergence
SL: 3300 | TP1: 3340 | TP2: 3370 | TP3: 3390
BUY #2 – 3275–3285
📌 HTF Demand Base + Oversold RSI
SL: 3260 | TP1: 3310 | TP2: 3340 | TP3: 3370
🧠 STRUCTURE & BIAS
• HTF Bias: Bullish
• LTF Flow: Bearish until 3384–3392 breaks
• ⚠️ 3408–3416 = key for mitigation before any real breakout
• Target rejections first, not dreams
🎯 Plan ready. Zones set. Now it’s your turn, sniper.
🟡 If this breakdown helped clear the noise, hit that Like
💬 Got a bias or reentry zone of your own? Drop it below
📲 And don’t forget to Follow – we’re building gold logic, not fairy tales
Let’s dominate the session. One sniper entry at a time 💛
SPY/QQQ Plan Your Trade for 4-24 : Carryover PatternToday's Carryover pattern suggests we'll see similar price action today to what we saw yesterday.
We will very likely see a little support in early trading today, followed by a moderate meltdown-type trend.
I'm not expecting much to happen today - but we could get some news or other data that may prompt some type of bigger move in the markets.
Yesterday evening, I shared an "Update" video with everyone. In that video, I highlighted some of my active trades.
I've gotten a few messages from followers asking if I can share more data related to my trades. I'm sorry, but that won't happen in these FREE Plan Your Trade videos.
I shared some of my trades yesterday to highlight how I had moved into a moderate Short/PUT position, trying to stay ahead of the bigger market trend.
In other words, I'm not chasing the nickels. I'm setup to try to profit from the DOLLARS.
Gold and Silver may stay somewhat muted over the next 48 hours. But, I do expect them to try to melt upward.
BTCUSD appears to be setting up a BULL TRAP. I, personally, don't trust this upward price move because it is counter to the EPP price structure. I could be wrong.
But right now, I just don't trust the upside move in BTCUSD, knowing the SPY/QQQ should move into a deeper MAJOR LOW in early May.
Again, these videos are designed to help you build your skills and find your own style of trading.
I really do hope all of you are benefiting from my continued work to deliver these videos.
GET SOME...
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GOLD: Next Move Is Up! Long!
My dear friends,
Today we will analyse GOLD together☺️
The recent price action suggests a shift in mid-term momentum. A break above the current local range around 3,340.22 will confirm the new direction upwards with the target being the next key level of 3,370.89 and a reconvened placement of a stop-loss beyond the range.
❤️Sending you lots of Love and Hugs❤️
Gold shows a bearish gapThe daily chart of gold shows a clear gap after the price peaked around $3,495/ounce. This is a warning sign of a reversal when strong selling pressure causes the opening price to be significantly lower than the closing price of the previous session. This gap often reflects distribution pressure from big players, especially in the context of gold having just experienced a hot rally.
In addition, the long red candle appearing right after the gap shows decisive selling pressure, pushing the price down to the $3,310/ounce area. Currently, although gold has slightly recovered to around $3,340, the short-term trend is leaning towards a correction as fundamental news continues to put downward pressure on prices.
President Trump's conciliatory statement on US-China trade and expectations of tariff reduction have significantly improved risk sentiment in the market. Strong money flows into stocks, causing gold to lose its safe-haven role. At the same time, the wave of profit-taking after the peak is also the main reason why gold "evaporated" tens of USD in just 24 hours.
Technically, if gold does not soon fill the GAP around the $3,390–$3,420 area, the correction trend will likely continue to expand to the EMA34 support area around the $3,200–$3,250 mark. A more positive scenario will only be triggered if gold regains the GAP and closes above $3,430.
In the current context, investors need to be cautious, prioritizing the strategy of waiting to sell when recovering to the resistance area, especially the area around the unfilled GAP.