Gold Getting Ready For New Life Time High ???Buy Gold On Dips With Strict SL Of 48600 (Weekly Closing Basis) For Target Of 56000
Goldtrading
#gold nice reverse head & shoulder on daily , any break of $1900#gold nice reverse H&S on daily chart break of $1900 on closing basis will mean new highs r coming .
Determining the MCX Gold Price Next Big Move According to this chart, gold has started falling from August month. Doji appearing in the last trading session. It's signaling a possible reversal. If gold follows the dynamic resistance, we may see a continuous downtrend. That can be up to 0.5 ( 47300 ) to 0.618 ( 45200 ) of Fib retracement.
Fib retracement:
Swing High: 56191
Swing Low: 38400
Here's ADX less than 25 , and +DI is above the -DI. Additionally, 200 MA & 50 MA is throwing uptrend signals. If we follow the moving average, gold may try to hit 51000 - 51990 ( 0.236 ) levels.
Intraday traders should watch dynamic resistance before entering.
Strong support level Gold must take support level from here
Strong weekly support and 200 days moving average support
Target - 1 $1900 and Target-2 $2000
💡 Don't miss the great buy opportunity in Gold (XAUUSD)Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1799.4). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Gold (XAUUSD) is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 48.
Take Profits:
TP1= @ 1901.13
TP2= @ 1965.20
TP3= @ 2015.63
TP4= @ 2074.95
TP5= @ 1822.10
SL= Break below S2
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BUY GOLD ABOVE 48700, Day Closing Above This Level Will Make View Solid, Strict SL - 47500 (DCB), Target - 50300/51000
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Cheers.. :)
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Buy Gold At Cmp 51191 SL - Below 50800 Target - Your Choice
