As predicted earlier gold is on a bullish run which had a deep correction down to 1910. Price continues to trade above 1920 which will act as a pivot point for the current trading setup. sAME RISK MANAGEMENT HAS TO APPLY IN THIS SETUO AS WE TARGET A BULLISG=H TREND TOWARDS 1950 and 2000 Q1
Good Morning Everyone,
-->Nifty continued to maintain higher levels and given a good closing
-->As I said in Nifty short term view We have to change view once Nifty give closing above 17450
-->Strong Sgx gap up indication & there will be a short covering move possible to the upside.
-->From the opening look for buying opportunities 5 min candle range breakout...
MCX:GOLD1!
could see starting of long uptrend.
SL- previous week low
-on weekly suport.
- .618 fibsupport of previous swing low & high
-good risk reward
please note this is weekly TF.
#the_pravin #simplepriceaction #notoindicator #nakedchart #swingtrading
GOLD - Looking strong at this point of time on bigger time frame as well,
My approach should be a buy here at current price 1969
Potential upside 1990-2004
Maintain Stop loss around 1958
Follow the levels properly as mentioned and use proper risk management.
Traders, if you liked this idea hit the like button & write in the comment section.
Why you should...
Its been observed that gold have breakout from the symmetrical pattern. One can look for buying opportunity to buy above 1138 for the target of 1150-1154.
In 30 Minutes chart Gold broken the channel and trying to take up move one can buy above 1261 for the upward journey.
Gold will take a bull run so I'm not giving any target.
