Gold Rejects Key Moving Averages: Is a Deeper Correction?
Gold(
XAUUSD) has successfully broken below the Support Lines and recently tested the 100_SMA(Daily) and 21_SMA(Weekly).
However, the price failed to break above these key moving averages and started to decline with strong bearish momentum.
Can gold reclaim $4,400, or is a deeper corrective move already underway?
Technical Analysis
From an Elliott Wave perspective, gold appears to have completed its Primary Wave 5, suggesting that a broader corrective phase to the downside may now be beginning.
The rejection from the 100_SMA(Daily) and 21_SMA(Weekly), combined with the breakdown of the Support Lines, further strengthens the bearish scenario.
💡 Educational Note: After the completion of a Five-Wave Impulsive Structure, Elliott Wave theory typically expects a corrective phase, often developing in an A-B-C structure.
I expect gold to decline at least toward $4,341. If bearish momentum increases, the correction could extend toward $4,315.
Trade Setup
First Take Profit(TP): $4,341
Second Take Profit(TP): $4,320
Third Take Profit(TP): $4,299
Stop Loss(SL): $4,410(Worst)
Key Trading Level: $4,342
Which level do you think gold will reach first?
🔴 $4,299
🟢 $4,410
📌 Gold Analysis(XAUUSD), 1-hour time frame
🛑 Always use proper risk management and set a Stop Loss(SL) for every position.
🚀 If this analysis helps your trading plan, a BOOST would help more traders discover it.
XAUUSD) has successfully broken below the Support Lines and recently tested the 100_SMA(Daily) and 21_SMA(Weekly).However, the price failed to break above these key moving averages and started to decline with strong bearish momentum.
Can gold reclaim $4,400, or is a deeper corrective move already underway?
Technical Analysis
From an Elliott Wave perspective, gold appears to have completed its Primary Wave 5, suggesting that a broader corrective phase to the downside may now be beginning.
The rejection from the 100_SMA(Daily) and 21_SMA(Weekly), combined with the breakdown of the Support Lines, further strengthens the bearish scenario.
💡 Educational Note: After the completion of a Five-Wave Impulsive Structure, Elliott Wave theory typically expects a corrective phase, often developing in an A-B-C structure.
I expect gold to decline at least toward $4,341. If bearish momentum increases, the correction could extend toward $4,315.
Trade Setup
First Take Profit(TP): $4,341
Second Take Profit(TP): $4,320
Third Take Profit(TP): $4,299
Stop Loss(SL): $4,410(Worst)
Key Trading Level: $4,342
Which level do you think gold will reach first?
🔴 $4,299
🟢 $4,410
📌 Gold Analysis(XAUUSD), 1-hour time frame
🛑 Always use proper risk management and set a Stop Loss(SL) for every position.
🚀 If this analysis helps your trading plan, a BOOST would help more traders discover it.
تم فتح الصفقة
ملاحظة
Based on the recent weakness in US labor-market data, especially NFP at -23K and Average Hourly Earnings at 0.1%, the market had room to expect a softer CPI report that could further weaken the US Dollar.However, today’s CPI data came exactly in line with expectations:
Core CPI m/m: 0.2% vs 0.2% expected
Core CPI y/y: 2.5% vs 2.5% expected
CPI m/m: 0.1% vs 0.1% expected
CPI y/y: 3.4% vs 3.4% expected
This means the market did not receive a fresh dovish surprise, so the probability of another immediate upside move in Gold, Bitcoin, and US stock indices has decreased. In the short term, this increases the risk of a corrective pullback or profit-taking, especially after the recent rallies.
At the same time, inflation is still gradually cooling on a yearly basis, so this is not necessarily a strong bearish signal—more a loss of bullish momentum than a major trend reversal.
ملاحظة
🔴Short position was activated.🔵Entry Point: 4427.000 USD (Limit Order)
💸Take Profit: 4383.000 USD➡️Risk-To-Reward: 2.32
⛔️Stop Loss: 4446.000 USD
ملاحظة
You can hold the take-profit level at $4,351.00, resulting in a risk-to-reward ratio of 4.00 for the position.ملاحظة
You can transfer your Stop Loss (SL) to Entry Point (EP) for risk-free trading
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-----
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🔗 t.me/ProTrader_365
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.