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Gold

Gold Entered into BULL MarketOn 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 minimum target of 2070, which becomes a strong buy from long term point of view. There is a golden cross over at 200 DMA, happened in 1st week of January'23. It has come out of oversold position to neutral zone. RSI was deeply oversold in September'22. Now it has broken the downward trendline and continously going up with minor blip down. Warning and Disclaimer: Above prediction should not be taken as financial advise, it is a personal opinion. Consult your financial advisor. Investment is subject to market risks. Past performance is not the guarantee for future performance. It is for educational purpose only.
TVC:GOLDLong
by AnkurSharda3
Nifty Selling at Supply areaNifty 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 confirmation. Short entry:18200 Stop loss: 18260 An ATM option will have approximately 15 rs per lot risk. Plan your trade according to your risk. Managing the trade: If the trade goes in our way *Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost *Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL. *Exit remaining with trailing Stop loss. *SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY. *NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES ***If you like my analysis let me know by a giving boost or a comment. I will be updating it.
NSE:NIFTYShort
by Mo-Kri
1
GOLD To past $2,000 in 2023I strongly STRONGLY believe GOLD is the safest hedge in this economy. Now a value bet as well: due to recession/inflation/real estate conditions etc. JPM told you BTC was going to $100,000 when it was at $60,000, now they're telling you BTC is a Ponzi Scheme. HERES THE CATCH Smart money wants you to *think* that they're buying BTC and saying the opposite (because we know that if they're bearish - it usually means they're buying and vice versa). I DON'T think this is the case this time. I think they are covering a short position (making crypto move up), but are buying all the GOLD they can while it's discounted and at these levels. They want you distracted right now on the small crypto rally. They don't want you (retail) taking the Gold. It makes total sense - think about it. They love throwing curve balls - that's what's most profitable to Wall Street. Smart money says the opposite of what they do. People now understand the reverse psychology aspect and proceed to do the opposite of what they say. Problem is they're 5 steps ahead of us. They know that because they bashed BTC - You'll want to buy too. I'm 90% convinced they're only making the price go up by covering shorts. - not actually purchasing coins. Gold is about to have a massive bull cycle - and they are distracting you with the Fools Gold while they load the real stuff. Don't fall prey to wall street. Make your own predictions - that make sense - and present great risk:reward ratios. GOLD is tangible. Crypto is not. You cannot argue that BTC is safer than Gold. All my opinion. I say what I believe. Good luck to all and DYOR. I see GOLD/XAUUSD at $2,000 as early as March and as late as December.
FOREXCOM:XAUUSDLong
by sully357
Gold buyers need $1,880 breakout for confirmationGold buyers struggle with an 11-month-old horizontal resistance, despite crossing an upward-sloping resistance line stretched from early October 2022. The upside momentum also finds hindrances from the nearly overbought RSI line. However, a looming golden cross, a condition when 50-DMA pierces the 200-DMA from above, joins the metal’s sustained trading above the previous key hurdles to keep XAUUSD bulls hopeful of crossing the $1,880 hurdle. Following that, the May 2022 peak of $1,910 and the late April high surrounding $1,920 could challenge the quote’s upside before directing March 26, 2022 top close to $1,967. In a case where the prices remain firmer past $1,967, highs marked during April and March of the last year, near $1,999 and $2,070 respectively, should lure the bullion buyers. Alternatively, pullback moves remain less harmful to the upward trajectory unless staying beyond the previous resistance line from October, close to $1,865. On breaking the $1,865 support, Gold sellers could aim for the 50% Fibonacci retracement level of the March-September 2022 downturn, around $1,842, which will precede the March 2022 top of $1,808 to limit the short-term downside of the metal. It’s worth noting, however, that the convergence of the 50-DMA and the 200-DMA around the $1,775-70 zone appears a tough nut to crack for the bears afterward before retaking control. Overall, Gold buyers appear to run out of steam but the bears have a long way to go before acquiring the driver’s seat.
OANDA:XAUUSD
by MTradingGlobal
Cup & Handle Pattern In GOLD. Breakout can give 10000+ rally!!!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 the GOLD. Consider this post as an education purpose only and not any type of recommendation. Consult your financial advisor before taking any investment decision.
MCX:GOLD1!Long
by TradZoo