Mcxgold
When Will MCX Gold explode?Main scenario: If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement.
Targets: 46600 - 46000 - 45660 - 45200
Alternative scenario: If gold remains above 0.5 , it may try to hit 0.382 (TP: 48260 - 49000+ ).
So, here hurdle is 47296 for the short-term traders. Intraday traders can play both sides.
And we may see a strong uptrend after hitting the support.
Manappuram | Cup & Handle Pattern 🎯⭕ Positional Trading opportunity ! Weekly Chart Alert !!! ⭕
--Buy above =170 or CMP
--Target = 187 | 209
--Stop-loss = 159
--Lot Size = 6000
--R:R = 3.61
--Expected Profit = 2,28,000₹ per lot ( 22% )
--Expected Holding = 3-6 Months only
#ThankU For Checking Out Our Content , We Hope U Liked IT 📌
======================================================
⭕ Technical Reasons to trade or Strategy applied :- ⭕
1) Cup & handle formation
2) Volume is good at the time breakout
3) fundamental is also good ( Check Once More )
4) Refer Chart for more
Guys check out the related ideas as well, it will work really well GUARANTEED !
🙏FOLLOW for more !
👍LIKE if think is useful !
✍COMMENT Below your view !
MCX Gold 2021's SupercycleMCX Gold is collapsing after making the all-time high of 56191 (swing high). It has created a parallel channel in December. Gold prices are rising here. If gold breaks the dynamic resistance without fakeout, it can touch 5 1000 - 52000 - 52384 levels at the beginning of 2021.
And if gold breaks the parallel channel and retracement value of 0.618 , it will become unstoppable and hit the following levels: 48800 - 47800 - 47296 - 46000 - 45196
Intraday Trading Calls on MCX GOLDGold is bouncing from the hurdle (support). And if we look at the Gold Spot, the RSI is bullish and calls for further upside. Hence, MCX traders can buy for the following targets: 50060 - 50120 - 50200.
According to MA, EMA, and DMI, it's bearish. If it remains below to hurdle, intraday traders must sell it for the targets of 49860 - 49800.
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.
MCX Gold - Setup Final OpportunityAccording to this chart, gold is further advance. Intraday traders can see 49860 - 50000 levels soon. We may see 50200 - 50400 in extension before the weekend.
If gold breaks the support trendline, gold can collapse up to the trend diversion point (from 49560 to 49400 levels). Speculators can enjoy both rides.
Once it breaks the support trendline, I will update you.
Note: Gap acts as resistance.
Will GOLD Hit the 50000 this Weekend?Overall, MCX gold is collapsing. Look at the chart, if it breaks a low of 48924, we may see freefall up to 48500 - 48360 .
According to 50 MA, gold will try to push the upside. If we see the gold closing price above the second top of the trendline, it will start rising for the levels of 49760 - 50000 .
Here ADX is less than 25 and 200 MA throwing a direct sell signal. Please note the crossing of +DI and -DI before taking a new entry.
Gold & Gold Guinea Tips & Updates - PROFIT 1,30,100+Gold has started rising from U.S. Presidential Election. I have said in the previous newsletters, bullion sector commodities are strongly bullish. How many of you bought Gold and Gold Guinea?
MCX Gold Measured Moves
I had written for the intraday traders that, " ...the day traders can follow the following targets: 51000 – 51360 – 51860+
And short-term investors can hold for 52000 – 53000 – 53560+ levels".
Intraday Calls Profit: Rs.116100+ /lot
Short-term Calls Profit: Rs.1,30,100+ /lot
Gold Guinea price setting up for a big rally
I had written in bold word, "... intraday & short-term traders can buy using this strategy to make some money. Targets: 41800 – 42200 – 43000+".
Profit: 600+ Points /lot
MCX Gold Measured MovesGold has made a Doji in the weekly chart. It's a direct sign of a reversal. And wherein ADX is less than 25 but +DI above the -DI . Additionally, the 20 MA line is trying to stay downside.
In short, DMI & MA is throwing a strong upward signal. Moreover, its volume is increasing. This week, we have chances to see gold prices above the 51860 levels. The day traders can follow the following targets:
51000 - 51360 - 51860+
And short-term investors can hold for 52000 - 53000 - 53560+ levels.
All you need to do is watch out for a dynamic support trendline . It should remain above it. Else , it will start falling. And that downfall for the levels of 50000 - 49600 - 49360 .
Significant releases or events that may affect the movement of gold:
Monday, Nov 02, 2020
11:00 - Gold Index
Tuesday, Nov 03, 2020
05:30 - U.S. Presidential Election
Wednesday, Nov 04, 2020
02:00 - U.S. API Weekly Crude Stock
21:00 - U.S. Crude Oil Inventories
Gold Spot vs MCX Gold - Weekly Reports & TipsHere I have compared Gold Spot (CFD) with Indian MCX Gold to identify this week's trend.
In the chart, there are two different support levels. Wherein support level 1860 is for gold spot, and 49260 for the MCX gold.
I have used moving average and volume on Indian gold. At present, 50 MA is turning downside. If it breaks the parallel channel (PC), gold will fall for 50000 - 49860 - 49500 levels.
According to this chart, gold is trying to climb upward after hitting the PC. And if it remains into the PC, we may see 51000 - 51500+ levels before the weekend.
GOLDPETAL LONG - HEAVY ACCUMULATIONAs per the FOREX GOLD chart idea I have been posting in the last few weeks, the gold is in accumulation stages and GOLDPETAL Contracts are being traded in the MCX with good volumes.
The following idea shows that GOLD has had very strong RSI with above 40 in the last two months.
Price breakout chart in USD can be seen below for XAUUSD.
MCX Gold - Classic Bullish Triangle (Expect 56191+)Bullish Triangle Running – A Classic Scenario for MCX Gold
-------------------------------------------------------------------------------------------------------------------------------
Disclaimer
-----------------------------
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
-------------------------------------------------------------------------------------------------------------------------------
Last Price- 51650 / Time- 21:12 Hrs (9 pm) - 26th Aug 2020
-------------------------------------------------------------------------------------------------------------------------------
The description is based on a scientific analysis called wave theory as mentioned below
-------------------------------------------------------------------------------------------------------------------------------
Currently Running in Wave-D
Expected Out Come
Wave- D & Wave -E Pending
Wave-D should stop current upside move below Wave-B @ 53965 Highs to be a valid setup
Post-Wave-D is done, we shall expect Wave-E Downside
Once Wave-E is done downside- it should hold above 49955 low which is marked as Wave-A (means- your stops should be below 49955 lows post completing Wave-E)
This forms a penultimate wave- means the second last wave on the upside that means one wave more on the upside is pending which will take Gold to the same level-56191 or above 56191 highs as of 7th Aug 2020
Best visual representation has been marked using Arrows which could be a possible trajectory for the commodity in coming days
-------------------------------------------------------------------------------------------------------------------------------
Thanks
Is Gold Price Setting Up for an Uptrend?MCX gold overall trend is upward. The position can be initiate at 52360 . It will keep moving upward after consecutive closing above to the control price. And we may see prices at 53000 - 53660 - 54000 - 54600+ levels.
Don't forget to follow the control price (CP). If gold breakdown CP, it may fall for 51360 - 51000 - 50500 - 50000 levels. Watch out the selling level on the chart.