Gold is seeking for Big Players to short and to trap buyers from here. Retailers are trying to push gold above 1980 and even above 2000 but they(MM) have some other plans. Retailers did not come out from the mindset of buying, but there is still a chance for buyers if war escalates.
Fundamentally and Technically gold is down.
Hey guys i just posted my views on Gold, according to my analysis there is short opportunity in gold. in my analysis i have given you two possible scenarios to take entry, first one is take entry when price entered in FVG. if MSS+FVG entry model failed then go for my high probability entry model MSS+OB.
THANK YOU TRADERS
I HOPE U WILL GET SOME GOOD PROFITS
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...
Short Position with SL and 3 TPs.
All ideas are my own analysis. For educational Purpose only. Any Loss on taking this trade is not my responsibility. Taking position off my idea is own responsibility, Users are responsible for their our actions. Tip: Always trade with Risk Management
Gold Analysis for the Upcoming Week on MCX, India
Date: 20th August 2023, 18:03 hours
Recent Performance: From 8th May to today's date, gold prices have witnessed a significant decline of approximately 5.49%.
Moving Averages: The gold price has recently breached the 50-day moving average, which stands at 58,980. The 200-day moving...
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...
Welcome to our Elliott Wave analysis of the Gold chart! This analysis helps us make sense of Gold's price movements by spotting repeating patterns. Think of it like finding familiar footprints in the sand.
Imagine Gold's price as a series of waves. Elliott Wave theory suggests that these waves repeat in predictable patterns. We'll be looking for...
Inflation Cools, Gold Heats Up
In June, the United States inflation fell to 3%, which is the lowest since March 2021. This was slightly below the market's expectations of 3.1% and a significant decline from May's rate of 4%. Additionally, the core inflation rate unexpectedly dropped to 4.8%, marking its lowest level since October 2021.
The implication of this...
A Global Level of Imbalance (H1) has formed. (+)
An imbalance of M15 has formed at the upper boundary of the H1 Range. (+)
The price is higher than the market opening. (+)
Resistance is the zone of imbalance of the open interest of stock options. (+)
input: 1927.43 (input on imbalance test)
GOLD has been one of the most considered safe havens against the fall of the USD.
Most investors turned to consider GOLD as a safe haven due to the following factors:
The CORE PCE fall as expected on Friday where which indicates that FED will not put more effort into tightening since the stubborn inflation is coming close to the target.
Investors will be closely watching the upcoming speeches by top central bank officials, including Christine Lagarde, Andrew Bailey, Jerome Powell, and Kazuo Ueda. These speeches will provide valuable insights for investors. Additionally, on Tuesday, important US economic indicators such as Durable Goods Orders, the Consumer Confidence Index, New Home Sales, and...