Goldidea
GOLD MCX EDUCATIONAL IDEAGold mcx
Descending parallel channel pattern breakout along with good intensity of volume,
along with rsi breakout and directing towards north.
Just to learn or educational purpose
One can go long at breakout with stop loss of breakout candle's low which is pegged at 46854
for targets of 47569, 48111, 48808, and 49558.
This is just a learning purpose idea.
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
Long MCX SILVERSILVER was trading under the Resistance trendline since mid May (shown in black in chart), but today it gave a breakthrough opening in the morning on MCX.
If it closes above 63800, then we can make a long position in current contract for a major profit.
LOGN SILVER @ 64800.
Silver has a major resistance at ₹ 65800, if it gives a closing above this level, then we can expect an upper movement of 5000-6000 in silver.
Sell Goldexpecting gold to reverse back down after this upward move beacause of the obvious imbalance. We all know that the market loves to correct those. Will be observing how the market reacts to that zone and when I get confluence for the drop, will dive right in! Currently in profit for the long position and already took partials at TP1.
MCX GOLD TRADINGYellow metal on MCX may remain volatile, traders can take a short positions.
CMP : 46635 at 1:15 (IST)
Stop Loss : 46810
Target : 46225
On th October, MCX Gold DEC Contract made a low of ₹ 46477, which is expected to be broken by today or tomorrow amidst a firmer dollar and a rise in US Treasury yields weighed on the precious metal’s appeal.
Yellow metal will remain under pressure this week.
Buy on dips strategy could work for both the precious metals.
Buy zone above - Rs 46,850 for the target of Rs 47,300
Sell zone below - Rs 46,500 for the target of Rs 46,200
December Gold closing price - Rs 46,757, Support 1 - Rs 46450, Support 2 - Rs 46,300, Resistance 1 - Rs 46,850, Resistance 2 - Rs 47,125.
MCX:GOLD1!
Trading Signal For Gold Trading Signal:
There is a Trading Signal to Sell in Gold XAUUSD
Traders can open their Sell Trades NOW
Rank : ⭐️
⬇️Sell now or Sell on 1769.56
⭕️SL & Buy 1783.46 ( Buy Target 1818.50 )
🔵TP1 @ 1715.61
🔵TP2 @ 1686.15
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this is the plan both long and shortthis are the probable level in gold for coming weeks.
if it breaks the double or triple bottom than short otherwise take positions according to your risk appetite