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Goldidea

Bear Zone Coming Up in GOLD - HOLD LONGLast week has seen tremendous downfall in the global markets with the COVID-19 vaacine no where to be seen. Major markets reacted to supposedly possible "LOCKDOWN 2.0" in many other parts of the world. In India, We have seen NIFTY react and fall below 11400 & Bank Nifty make huge falls in the last few trading session. Investors weary with the major markets usually focus on Gold to hedge the positions but, this week we have seen many investors reduce their positions in the last two trading sessions which refelected in the yellow metal falling steeply. HOLD taking new LONG positions until GOLD reaches back into accumulation zone. Trade wisely!
FX:XAUUSD
by jashjacob
GOLD, Should you be buying ?profit booking on GOLD which started on 7th of August is continuing. Weeker global cues in metal sector and a pinch of taking money of table is what we have witnessed in last 15 odd trading sessions. RSI is looking little week but nothing to worry. Basis FIB retracement the support levels are perfectly aligned to 0.38 Levels and resistance is at 0.23 levels. In the short term please expect a few more days of sideways action before the precious metal starts moving up again. Hey days are back for yellow metal. No recomendation. Purely for Educational purpose.
GLong
by Rajesh_mehta
GOLD: short term: Triangle formation for terminal thrustAs per short term view, GOLD is in the last phase of corrective wave-y, which is unfolding as an impulse. Currently the price structure suggests that there is a formation of a triangle & this triangle is being formed as a wave-4. This wave-4 triangle formation often takes place as a preparation of terminal trust and after that the 5th wave of the impulse get started. As long as GOLD prices are above 1960 level , one should go long for the target zone of 2050/2150/2190. Invalidation level : 1960 For long term scenario on GOLD: refer to the attached link .
TVC:GOLDLong
by TradingSutra
1
GOLD : YELLOW PRECIOUS METAL : DOING EXPANDED FLAT CORRECTIONLong ago a surge in GOLD price rally stopped in the year 2011 & the point has been designated as a primary wave-5 by all the elliottician. From that level we have seen a correction upto the level of 1045 $. A nice corrective move.Right from that level GOLD price raised up & currently trading in a all time new highs range. But this rally from the lows 1045$ is looking more corrective than an impulse. As per the current price structure we can assume that GOLD price is forming an EXPANDED FLAT CORRECTIVE pattern. And currently we are in the last phase of WAVE-B (circle). The wave-B (circle) is unfolding in a 3 wave corrective structure as w-x-y pattern. We are in the last phase wave-y which often takes place as an impulse rally which is discussed in the short term view over GOLD. The link is attached to this idea for the short term view.
TVC:GOLDShort
by TradingSutra
MCX Gold - Classic Bullish Triangle (Expect 56191+)Bullish Triangle Running – A Classic Scenario for MCX Gold ------------------------------------------------------------------------------------------------------------------------------- Disclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. ------------------------------------------------------------------------------------------------------------------------------- Last Price- 51650 / Time- 21:12 Hrs (9 pm) - 26th Aug 2020 ------------------------------------------------------------------------------------------------------------------------------- The description is based on a scientific analysis called wave theory as mentioned below ------------------------------------------------------------------------------------------------------------------------------- Currently Running in Wave-D Expected Out Come Wave- D & Wave -E Pending Wave-D should stop current upside move below Wave-B @ 53965 Highs to be a valid setup Post-Wave-D is done, we shall expect Wave-E Downside Once Wave-E is done downside- it should hold above 49955 low which is marked as Wave-A (means- your stops should be below 49955 lows post completing Wave-E) This forms a penultimate wave- means the second last wave on the upside that means one wave more on the upside is pending which will take Gold to the same level-56191 or above 56191 highs as of 7th Aug 2020 Best visual representation has been marked using Arrows which could be a possible trajectory for the commodity in coming days ------------------------------------------------------------------------------------------------------------------------------- Thanks
Editors' picks
MCX:GOLD1!Long
by WaveTalks
8