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Shortgold

Gold MCX - Trade UpdateHey traders, here's an important update on our Gold MCX positions: We've successfully booked our long position and are currently completely out of our short-term long trade. In order to consider re-entering a long trade, we'll be closely monitoring the market for a break above the key level of 61,130 , and it's crucial that the price sustains above this level. As of now, our focus is on initiating a short trade entry around 60,750 , while maintaining a disciplined stop loss at 61,150. Stay tuned for more updates and trade responsibly. Happy trading, everyone!
MCX:GOLD1!Short
by iamrk7
Short Gold Based on the current scenario we can clearly identify that Gold is approaching a major breakdown as it has its downtrend resistance at 1950, considering that we can acknowledge 1944 as a reversal point and soon in upcoming time we can expect this bearish trend to test all the levels up to 1890. The Best thing is to stay bearish with a stop loss 1950, and if it breaks the 1950 level and the next 1 hr candles survive over it we can consider it as a successful breakout and then be bullish again considering this as a minor pullback. So right now it would be best if we sell gold, trade at your own risk.
FXOPEN:XAUUSDShort
by Leokin3
GOLD Double Top Oportunity Weekly chart - Strong buying pressure Daily chart - Potential double short Hourly chart - pushing back to tesst top resistance once more If it rejects this top level again we are in a good way for Double top setup We will have to wait and see how price reacts to the 143 price level, If you want you can play agressive with a shot pending order on the 143 level and a ver short stop loss right above this resistance. Price might bounce back really fast and you will miss this opportunity
TVC:GOLD
by Hybriss
Gold broke major support for more sell side direction XAUUSD Technical Overview: Pivot: 1188.20 Key Resistance: 1184.55 - 1188.20 - 1192.89 - 1196.48 Key Support: 1180.23 - 1176.45 - 1174.88 - 1171.43 Technical Indicator: RSI: The indicator having bullish divergence but moving under 50 level near to oversold condition. Moving Average: CMP 1182 Price moving under Simple moving average 100 & 55, sign for more down trend ahead. Technical Trade Idea: Most Likely Scenario: short positions below 1188.20 with targets at 1182.55 & 1176.45 in extension. Alternative scenario: above 1188.20 look for further upside with 1191.89 & 1194.66 as targets. Overall, Gold markets broke down rather significantly during the day on Thursday, slicing through the $1200 level like it wasn’t even there. Furthermore, we broke below the hammer at the $1195 level, which is a further sign of weakness. the US economy is running at full steam ahead, it was appropriate that the Fed removed that sentence from the statement - But what markets traded was the forward outlook - As the policy rate moves closer to estimates of neutral, members of the FOMC and observers, market participants, now forecast a modestly restrictive terminal FFTR while other Central Banks embark on their own normalization of policy, thus stripping some of the yield advantages out of the long end of the curve for the dollar. However, in the near term, the dollar remains on top and following today's set of economic data,"Between Chairman Powell's comment yesterday the that the U.S. economy is in a particularly good spot and today's robust durable good orders and excellent business spending, despite the August pause the six months to July saw the strongest investment spending in five years, the dollar has room to run on the American economy alone." US economic data US: Pending home sales decline by 1.8% in August vs 0.4% expected. US: Durable goods orders increased by 4.5% in August following July's 1.2% contraction. US: Real GDP expanded at an annual rate of 4.2% in Q2 to match expectations. FOMC outcome notes As expected, the FOMC raised the FFTR and the IOER by 25bps at its September meeting. ‘Dot-plot’ distribution around three hikes in 2019 narrowed; FOMC still sees strong growth as cyclical. 2021 projections indicate a ‘soft landing’ through lower real growth and slightly higher unemployment. The only significant change to the statement was the removal of the description of monetary policy stance as “accommodate”. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic