MCX
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..
sell Gold CMP 47165 with SL of 47285 trgt 46750sell Gold CMP 47165 with SL of 47285 trgt 46750
1 Gold rises after US CPI misses analysts’ estimates
2 Treasury yields fall, allowing bullion to advance
3 Markets may have overreacted to inflation miss
The 78.6% Fibonacci retracement level (1801.57) from the July/August move also gave way.
The 1834.14 level is a major potential resistance level if bulls advance.
Simple Trade Setup | MCX | 06-09-2021NSE:MCX
Observations:
1) On daily Time frame, it has given breakout of rounding bottom pattern. Breakout level range is 1585-1586. Nearest resistance level is 1600 level.
Please refer below chart : Daily time frame.
2)On Daily Time frame we can see that it has broken 100DMA and 200DMA with bullish candle.
Please refer below chart : Daily time frame.
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Trade Setup for Date 06-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Silver Gonna crash?One can see in the charts that all levels on daily and weekly timeframes are tested. The white trend line keeps on adjusting as we go while blue is intact, signs of distribution.
once it comes to confluence zone(intersection of 2 trend lines) , perfect short opportunity.
It is a positional trade so we have to be patient.
Targets
Passive- 56000
Aggressive - 51500
Simple Trade Setup | MCX | 30-08-2021NSE:MCX
Observations:
1) On Daily time frame it is already trading below 200DMA.
Please refer below chart : daily time frame.
2) On Daily time frame it has taken reversal from it's critical support 1455 level range and also closed above 400DMA. It shows the strength will come in stock to get bullish now.
Please refer below chart : daily time frame.
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Trade Setup for Date 30-08-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.