Definitely looking to trade some gold this week, We've entered the regional supply region, I believe price will seek the institutional safe heaven of 1900.000 in order to collect balance.
Price is currently trapped within the 2h liquidity pool within 1930, let's see how the market develops on the opening.
RR potential 1:16
On Weekly Basis:
GOLD completed its correction from USD 2070 to 1615 in its 5 Wave Down. It took a support at 1642 on weekly charts. It breached a strong support at 1700 which was a false bear move and reversed the trend immediately. Fresh new Wave has just started. One can be cautiously optimistic and it provides a good choice to buy at current level with a...
Following the current bullish trend, the minor bearish wave on lower timeframes is coming to a halt. Gold is supported by the strong level at 1920 and 1900 respectively, which will be enough volume to see it soar towards 1953 and 1980, the remaining porting of q1 2023. We will have to wait and see how these two support levels behave before entering long and daily...
GOLD FORMING 5-0 HARMONIC PATTERN AND GARTLEY ON DAILY CHART
Sell gold below 56980 add more 57170 two days closing stop loss 57463 above target 56000-55200-54400-53500
taking two days closing just bcoz 2 big event upcoming first one is indian union budget second one is fed int rate
import duty should cut in budget expected already last 2 time hiked with...
This is my analysis on gold
first i used green monthly trend line if it breaks market will go down . if comes toward the mean of the line or say pullback in uptrend is consider .
and price touches red color resistance zone almost 6 times . if it breaks and retrace is consider as perfect breakout . so wait for breakout .
and i use Hikanashi to show...
Gold from its lowes level getting trendline support Reach out such high where its created Resistance which is tested multiple time and failed to break still…
If this time it will break and 1hr candle close above the resistance we can see such big up move….!!!
KEEP AN EYE ON IT….!!!!!
After a long bearish phase the gold has entered in a nearby old institutional buying area and again smart money has started building there positions.
there is high chances that it will retest the ''smart money'' area and then we may see again a mid-term bull run in gold.
Analysis On 14th December 2022
This is a Bird View so Possible Movement of Gold in a Daily TF for a Medium-term view.
>Wave Counts - Recently, Gold has just reached to Depth of Correction point in Minute Cycle of Wave Count , while in an Intermediate Cycle, it seems like Wave C is still on.
Furthermore, Last month's upward journey is still not break ...
Nifty has a trend line resistance and a higher timeframe supply nearby.
Aggressive entry will be shorting at 18200 with a stop loss of 60 points i.e., 18260
Another reason for shorting is Nifty gave an up move of almost 240 points and I'm expecting a correction at this point.
Even if it takes stop losses can try to enter the trade once it gives downside...
Gold Future indicating the cup and Handle Technical Pattern. According to the pattern if this gives breakout of 56200 level then expected next target upto 67150+ in long term. This pattern will fail if gold started trading below 52900. Can see gold as a good investment opportunity in this downtrend global market session.
Disclaimer: This is my personal view on...
#GOLD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance
Why we like it:
Price is trading in nearby 4hr support area
Waiting for bullish candlesticks formed
possible to move the next resistance...
✔Gold was holding 50200 since mid of May. It held this level at three occasions (see chart) but finally broke it in the mid of September.
✔So, a lot of traders who bought at 50200 support, with stop loss underneath this level, were shaken out in this breakdown. Most would have reversed their positions to short. Gold revisited 50200 in a retest attempt and this...
BUY : 39 TO 25
TARGET : 140 TO 156
Reason For Selling This Script :
In this script the price is falling in down trend channel. Now the price is in side way moment once price close above 47 in monthly time frame and the target level given above.
Technical Analysis Used :
Monthly time frame analysis
Down trend channel analysis
Above given levels are...