Goldlong
Gold's Golden Rule Of 89% (Pack Your Bags For Big Ride)Gold's Golden Rule Of 89%
Golden history of last 50 years have shown that Gold has give big move whenever there is a minimum 89% move from bottom. Chart is self explanatory. There are three successful incident of min 89% move and two unsuccessful incident of less than 89% move.
Successful Incidents
1. 1970 - 1972
2. 1976 - 1978
3. 1999 - 2005
Unsuccessful Incidents
1. 1982 - 1983
2. 1985 - 1987
Fourth move in the making from 2015 - till date. So Gold is getting ready to fly again.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
GOLD Gold retraced 61.8% of previous rise, it tooked support perfectly from 61.8% and lower bollinger band on daily time frame, and it had once again managed to hold above the RK's stop loss line on the closing basis, after taking support & closing that doji type red hammer candle, next candle closed positive and also given good follow up upwards, also buy signal generated in RK's Magic Buy.
Most possibly it is confirmation that reversal started now and may be wave ii completed and wave iii can unfold.
retraced 61.8% levels
macd in hourly positive above zero line
macd in daily converging towards upwards
rsi in hourly uptick
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
GOLD Buy Trade opportunityGOLD Buy Trade opportunity
Gold is currently in a bearish trend expecting to change the trend on major support level on 1870 area if market make a very strong bullish candle on support line so it will be a very nice point to take a buy trade with very good risk rewards
"Always use Stop Loss"
Gold at 2600?From 1150 level back in August 2018, Gold rallied up to 2075 highs in August 2020. After that peak it corrected to 1860 in March 2021. 1860 became the short term bottom for the price as price found support there twice in March. Later in August and September price found support twice in the 1730 zone as marked on the chart. The bullish flag pattern would remain valid if the depth of the flag retracement holds above the 50% level, above 1600. It seems that price has closed above the down trending line on the weekly chart.
_______________________________________________________________________________________________________________________________
Price action in the daily timeframe could again pullback in the flag area and consolidate further before moving ahead and breaking out. This is not a short term trading but an investment idea, the target projected from the mid of the flag would be close to 2600 and should be achieved within 2 years from the point of a successful breakout. One could accumulate slowly at current levels.
_______________________________________________________________________________________________________________________________
Like and follow for more. :)
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
GOLD MCXGold has possibly completed its complex correction in wave II and now it looks like wave III is unfolding, today it has given breakout from the down sloping resistance trendline, along with macd positive crossover and uptick in daily time frame, other indicators are also giving positive signs of uptrend at breakout point, as wave III unfolds, gold can possibly rise higher towards 52000 and more, one can go long at these levels or in dips ( if any ) with key levels mentioned on chart.
wave struchture could be like this
key levels are mentioned on chart
macd in weekly
macd in daily
ready to bbc
rsi in daily uptick and ready to cross above 60 levels
dmi adx positive ungali
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
GOLDLong can be initiated if close is above yesterday's high with SL of yesterday low. On chart it seems that trend is towards downside but on other side of table it may be trying to flush out weak hands. It has broken previous support and close below that also and now it is coming up again.. it may be a bear trap..
GOLDAfter 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 both things are combined at same location ( recent retracement 61.8% at price responding zone ), as wave III unfolds we can see prices at new higher highs then previous highs, any indicator turning bullish will surely make boost in prices, one can go long with stoploss of $1740, on higher side in the near term , the 50ema and 100ema in daily time frame, which are currently pegged at $1793 and $1799 respective are immediate resistance levels to watch out for. once gold breaks and sustains above the key daily emas, the bulls shall take charge in there hands and more boost in prices can be seen. on the way down, the swing low of $1743 will be a crucial support level to watch out for in the near term.
Prices are at major responsed area ( support & resistance zone )
Price retraced near 0.618% of recent high
key levels are mentioned on chart along with stoploss & targets
wave structure could be like this
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
Gold US$ / OZ good conditional long tradeGold US$ spot if manage to close above 1755 go long for 1797-1819-1833
conditional trade to be executed only above 1855 levels,,
spring candle formation on daily time frame,,, symmetrical triangle support above 1755
bullish divergence in RSI and MACD,, good long candidate
💡Don't miss the great buy opportunity in XAUUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1784).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XAUUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 56.
Take Profits:
TP1= @ 1800
TP2= @ 1808
TP3= @ 1818
TP4= @ 1831
TP5= @ 1843
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Buy XAUUSD (gold) Now!!!Gold is about to make upmove, follow the analysis to know how!
Things to consider:
1. Last day gold printed bearish impulse, today its making higher highs
2. Upward momentum building
3. After an impulse a retracement is seen
How to enter:
1. Follow the analysis
2. Entry on 1hr tf
3. Enter when MACD crosses 0
4. Enter when 10 ema crosses 20
5. TP & SL in the analysis
ALL THE BEST!
GOLDGold has given a positive breakout with good intensity of volume, all key levels are mentioned on chart,
one can go long at current levels or in dips (if any) with stoploss of 1803.75
key levels are mentioned on chart
intensity of volume is good at breakout candle
macd in daily time frame
macd in hourly
macd in 30 minutes
dmi and adx positive ungali in 30 min
rsi in hourly uptick
rsi in 30 min above 60 and uptick
bollinger band challenged in 30 min time frame
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support of 1744.50, a resumption of an uptrend is expected.
We make sure when the resistance at 1916.50 breaks.
If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades if the Midterm level 1744.50 is broken.
Technical analysis:
A trough is formed in the daily chart at 1750.55 on 06/29/2021, so more gains to resistance(s) 1828.25, 1848.50, 1875.15, and maximum to Major Resistance (1916.50) is expected.
Price is above WEMA21; if a price drops more, this line can act as dynamic support against more losses.
The relative strength index ( RSI ) is 50.
Take Profits:
TP1=1762.55
TP2=1828.25
TP3=1875.15
TP4=1959.30
TP5=2075. 05
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️