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Goldfutures

GOLD AT 60,000 , WHATS NEXT ??Short Recap - Gold had good rally from 6th oct , to the upside from 56500 to 61250 Currently - price is hovering around the higher time frame bearish order block which is resulting a resistance phase to gold price from (61500 to 60500 zone) there is been a internal CHOC (trend change) from bullish to bearish although the bearish continous will be confirmed if price breakdown and close below 60200 - 60,000 What to do - after the break and close of 60,000 short trade can enter with quick targets as this could be pullback on major time frame where as those willing to go long will need to wait for specific levels consider 58250-58000 zone as a value buying zone this can be tracked based on price shifting the stucture from lower low and lower high towards higher high to higher low as Long Indication
MCX:GOLD1!
by Jimmy_Rebello
GOLD continue to decline again...GOLD FUTURES (MCX) continued to decline from the 59900 lvl and has broken the mtf support of 58135 with a gap down price then retested the support, (as the support breaks it will act as resistance now) similarly we seen a rejection and price coming back to day low further if the day low is taken out, we can project the price heading towards its higher time frame demand zone which is around 57650 and 57800 lvl if youre interested in creating fresh short side pos make sure you follow the lower high and lower low formation as there will be certain bounce when the bearish sign starts fadading
MCX:GOLD1!Short
by Jimmy_Rebello
GOLD, XAUUSD LONG TERMDirectional Bias: Bullish Pattern Type: Continuation Pattern Description: This pattern occurs within the context of a longer uptrend and is characterized by the price forming a u-shaped cup with a short handle on the right. The duration of the cup should last at least 7 weeks if using a daily chart. Volume Description: Volume will typically follow the shape of the cup, with high volume as the left lip forms, falling volume as the bottom of the cup forms and rising volume toward the right lip and on the breakout. Breakout Confirmation: A close above the upper trend-line drawn across the handle with above average volume. Measuring Technique: The price target is obtained by measuring the right lip to the bottom of the cup and then added to the price level of the right lip. Statistical Notes: The pattern has a low failure rate but doesn’t move as strongly as other patterns. Patterns with shorter handles perform better than longer handles, and deeper cups with the left lip slightly higher than the right lip perform better.
OANDA:XAUUSD
by King_of_Bitcoin
Gold is looking long beyond expectation In the monthly time frame, gold gives a clear pattern rounding bottom, which is a big bullish pattern for a far long target. It has given breakout and retested the breakout level. Now it is amazing to see the bullish move from here. We can also see the bullish move from 1800 or some below the level in the weekly time frame. If this happens we can expect the first target at 2440 in the next 1-1.25 year and the next target at 3300 in the next 2-2.5 yr. This could be a very good long-term investment in gold as we could have some big target of return of money in future Trade not recommended Comment your views and show your love by cheering Thanks
OANDA:XAUUSDLong
by Finonomy59