Metals are hard commodities that are mined or extracted. They can be further divided in precious metals like Gold, Silver and Platinum and high-demand base metals like Copper, Aluminium and Zinc. Precious metals tend to move together in price and their unit of trade is the troy ounce. Gold has a number of industrial applications, functions as a safe-haven for currency speculators in times of uncertainty and can be used as a hedge against inflation.
Base metals are essential to industrial processes and are traded in metric tons. They are a leading indicator signalling economic growth or weakness. The strong demand from China's infrastructure and construction sectors is the main driver of global base metal consumption. Production cuts or increases and fluctuations in global inventories further influence their price. Metals are mostly traded through futures contracts, to speculate on price movements. The most popular custom chat is the Gold room where traders talk in real-time about where Gold is going.
Gold looks ripe for a breakout of the asscending triangle. Will be entering on the breakout.
Pattern Targets around 1322.5-1323 levels, but I would be closing off the trade at around 1315 levels which is a strong horizontal resistance. The pattern targets can be considered as 2nd profit taking levels by moving stops to cost.
Gold finally broke the trading range it had been into from many weeks on the downside as it slid past $1300 comfortably and posted a nearly $20 weekly loss. This kind of movement was getting over-due and a fatigue was kind of setting in when the price action was taken into account. Fundamentally the events did not favor the rising prices thus allowing it to breach ...
Gold took a very strong support at $1301 level and maintained to trade above 1317. crossing initial resistance of 1323 will show some bullish movement.
LONG ...
ASSUMING TGT.. ON CHART..
STOPLOSS- 16.060
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BTG breaking spot zone and goto moon target 99K - BUY small bag
if its not cross red line then dont enter in that position
buy if breakout then sell target
1st - 90K
2nd - 98K
3rd - 130K
4th - 480K long hold (three or four month)
HI GUYS KEEP WATCH ITS GOOD OPPORTUNITY FOR SELL AREA ABOVE 1341 TO 1355 KEEP WATCH
GOLD SELL OPPORTUNITY KEEP WATCH Consider if the RESISTANCE breaks down
Disclaimer:
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities ...
OUR CURRENT POSITION
https://in.tradingview.com/x/VP97xTV6/
GOLD-SHORT-ENTRY-1325 TARGET-1230 STOP LOSS-1385
SILVER-SHORT-ENTRY-16.500 TARGET-14.700 STOP LOSS-17.300
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself ...
This whole thing looks big corrective structure in making because there are lots of incomplete moves, so buy it in lower timeframe after minor correction and keep that until breaks previous top, it will go up down for sometime in big corrective pattern.
OUR CURRENT POSITION
GOLD-SHORT-ENTRY-1325 TARGET-1230 STOP LOSS-1385
SILVER-SHORT-ENTRY-16.500 TARGET-14.700 STOP LOSS-17.300( It doesn’t, means that we can't close or even reverse our position in the middle,if we get enough confirmation we can close like we did 3 times previously or even reverse the position if needed)
At the moment of writing this ...
