Overall trend is bearish on Daily and we are looking for a swing trade.
If yellow zone around 1804$ is being respected we will be looking to go short.
Enter on lower-time frame on the break of structure.
As per the elliot wave principle there's a high probability that gold is geared up for the 5th wave which may break the all time highs within a year or two.
Gold alomost reched the high after the fomc speech.Now loacted at the resistance zone and from here steeping towards the strong support zone 1750.70.Overall Gold is in Down trend
Gold Dec Long
Trend is still positive
Buy at CMP- 47411
SL- 47130
Target- 47830, 47985, 48130
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Gold on MCX is very bullish this month. Since October 1st, Gold rallied from ₹ 45800 to ₹ 47800 today on MCX. Gold has a major support at 47850. Currently Gold is trading around 47800
Conclusion
If you are a trader then you can have a short term short call in Gold, target can be seen upto ₹ 47400. Make a strict stop loss of ₹ 47880
Hello guys i had find this trading setup in 4h timeframe which is taken trendline support and also broken buildup we have a good buying opportunity when its price come for retest of buildup with very low sl and above tg at near resistance also please do your own analysis before taking any trading decision if you like my trading setups like share follow and dont...
NYSE:SCCO
1)monthly chart.
2)Long term investment .
3)flag and pole .
4)last metal cycle gave return of 3279%
5)Very long consolidation period
6)BO and retest done.
7) Below 54 exit and wait for re-entry
8) long term target pole length
9)Reason - metal , shortage , EV will change demand once its rolled out fully.
10) Its just for learning purpose. do ur own...
expecting gold to reverse back down after this upward move beacause of the obvious imbalance. We all know that the market loves to correct those. Will be observing how the market reacts to that zone and when I get confluence for the drop, will dive right in! Currently in profit for the long position and already took partials at TP1.
MCX Gold looks to breakout the upper trendline which can cause a short term rally. But the overall picture is bearish as the longer term trend is broken in the downside in the previous weeks.
gold currently facing resistance at 47300-47500 and trying to breakout this zone and volume higher than 21 DMA
keep this in your radar with SL as support zone
NMDC has Channel BO. Price come down to Re-test channel support near 122-128 before rise .If come down to 122-128 can buy for reversal targets 184,213 and 254 in 3-6 month view.
Silver MCX looks promising at this level
After several attempt to break trend-line it is
once again at the level, RSI crossing 50 levels
If breakout occurs and stays above the Resistance we may see level around 63100-64800.
However if failed, reversal happens from this level! then nearest
support will be around 59950-58890.
Thanks
