Gold Target Bullish for a while Target 1853: 30 Minutes timeframe
BUY AT 1840, Target 1853 , SL 1832
I have used Movinf AVerage ad RSI Statergy here an Used the timeframe of 30 Minutes.
NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
Happy Trading
Gold has accomplished the final correction wave (Y) of wave ((B)) and has begun to form sub-waves of the corrective wave ((C)).
Currently, the price is at 100 EMA & the lower band of the parallel channel. It appears that the movement of gold is being dominated by bears, as it is making lower lows and lower highs.
If the price breaks down the parallel channel,...
In the previous trading session, MCX Gold made a high of 51538 and closed at 51343 ( +444 ). A question is, is it moving upward?
To identify uptrend:
There are two hurdles to continuing the uptrend. It should break out the 5th May high or settle above the control line.
According to the above chart, Gold is forming a bullish flag pattern. And we're...
Did you read the 26 Jan 2021 article on Gold?
Article: Don't Get Yourself Into a Bull Trap With MCX Gold
Wherein I have highlighted a strong resistance (SR) which is 49280 . It has broken down on 14 Feb 2022. That indicates the MCX gold uptrend is unfolding here. If it consecutively remains above the SR, we will see the gold price above 51160 - 51740 .
The...
Gold is trying hard to give a breakout of ascending triangle @48912 after which could move towards the target @52176 i.e. a rally of more than 6% !!! . There is also MACD crossover with a positive histogram a damn Bullish signal !!!
Yellow metal on MCX may remain volatile, traders can take a short positions.
CMP : 46635 at 1:15 (IST)
Stop Loss : 46810
Target : 46225
On th October, MCX Gold DEC Contract made a low of ₹ 46477, which is expected to be broken by today or tomorrow amidst a firmer dollar and a rise in US Treasury yields weighed on the precious metal’s appeal.
Yellow metal will...
MCX gold has started falling since 1st June, and it's moving under a parallel channel. But this time, it can break out this channel. Why? I will explain it through Elliott wave projection in the next update.
In the last trading session, it made a Doji candlestick. And that's a sign of trend change. If gold does not break the crucial level, then it can drop up...
In June, XAUUSD and MCX Gold crash due to FOMC events. It has recovered almost 60% to 70% loss in the July month. You can read the previous articles of Gold to catch the next move.
This week gold may remain downside until it breaks the levels of 48520 . It can be up to 47580 - 47200 . But, once it crossover the 48520 levels, then it will become unstoppable...
Key Levels: 46720, 46250.
The corrective nature of the latest rebound suggests the Gold decline will continue. A break of hurdle will raise the possibility of the impulsive decline from near 46720 . A strong selling signal will come after a breakout of 46250 levels. So, intraday (day) traders can start selling between hurdle and breakout levels for the target...
MCX gold will keep moving further advance up to the targets of 50000 - 51000 levels. But after the first target, gold will try to take a reversal for 0.382 to 0.236 levels of retracement.
Long-term Targets: 51575 - 52492+
The chart above indicating a clear uptrend continuation. We may see sideways movement before it hits the top of the rectangle.
According to the Darvas box ( rectangular formation ), MCX gold will move upward gently this week. Hence, intraday traders can jump between the range of 45200 - 45300 .
Targets: 45560 - 45680
If gold breaks the bottom of the...
On 15 Feb 2021, I have written an article on Gold. First, click below & read again:
URL:
I have written in that article, " If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46860 – 46600 – 46000 – 45660 – 45200 ".
Gold has touched all targets.
NEW UPDATE:
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Keep eyes on the retracement value...
As expected, gold has started collapsing after a breakout of the test level. Will it keep falling?
First, click here and read the previous article on gold: When Will MCX Gold explode?
I have written in clear words, " If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46600 – 46000 – 45660 – 45200 ".
Gold has...
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...
MCX 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...
Gold 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.
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...
According 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...
![GOLD1!: UPDATE: When Will MCX Gold explode? [Profit - INR 210000]](https://s3.tradingview.com/r/r4oVCsML_mid.png "UPDATE: When Will MCX Gold explode? [Profit - INR 210000]")
