MCX gold has started falling since 1st June, and it's moving under a parallel channel. But this time, it can break out this channel. Why? I will explain it through Elliott wave projection in the next update.
In the last trading session, it made a Doji candlestick. And that's a sign of trend change. If gold does not break the crucial level, then it can drop up...
As I said last weeks since March 21..after 4 months in which all my analyzes about GOLD were almost perfect,
...exactly as we expected ... GOLD rejected from the Fibonacci zone o.5 and reached the zone 1794 as I said!
in this area I will wait for an extended range and I will enter the trade only at a close for at least 1 day over 1793 or below 1760
After retracing 61.8% of recent rise or we can say wave I,
Gold has given a positive daily close in yesterday's trading session, it looks like corrective wave II is completed and now wave III can possibly unfold, we also noticed that since april 2020 gold is responding nicely as support and resistance at these areas of $1740 to $1760 price zones, at this time...
XAUUSD/GOLD LOOKS BEARISH SELL AFTER RETEST THE RESISTANCE .
Just now gold give breakout on downside wait for pullback
then if big bearish ( red ) candle appear near resistance then go for sell side .
SELL GOLD AROUND 1760 - 1762
STRICT SL - 1786
TARGET 1 - 1755
TARGET 2 - 1750
TARGET 3 - 1745
this information is for only education purpose.
XAUUSD LOOKS STRONG BEARISH IT MAY CONTINUE DOWNTREND
Gold looks weak today if price rejects on resistance of 20 ema 50 ema or 200 ema
then go for
SELL SIDE WITH STRICT SL - 1785.58
TARGET 1 - 1746
TARGET 2 - 1725
TARGET 3 - 1705
Gold has touched a low of 1783.8 and now reversed from the low. Currently being traded below Fibo Level 50. Looks bullish and one can Buy Gold at/above 1792.6 TP1 1796.5 TP2 1799 TP3 1802 with the SL 1788.
The reason why you might find fundamental analysis interesting is that it offers help in determining the long-term trend. In other words, it suggests whether the price of an asset will go up or down in the long term. Because of that, fundamental analysis is crucial when you are deciding what to do with your long-term capital.
Today i have made a post on gold hourly timeframe
I hope you find this post helpful and informative👍
The targets and stoploss would be given in the charts or they would be according to pivot points
I am not a SEBI registered financial advisor
Please consider your consultant's advise a must , all the setups posted...
A Trading Signal is seen in the GOLD XAUUSD
Traders can open their Buy Trades NOW
⬆️Buy now or Buy on 1784.8
⭕️SL & Sell 1773.45 (Sell Target 1748.85)
🔵TP1 @ 1806.8
🔵TP2 @ 1831.7
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