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Gold portrays much-awaited pullback, focus on $2,710 & US dataEarly Friday, gold prices slipped after a brief bounce from a week-long support level, retreating from a point that has shifted from support to resistance. Traders are closely watching the September U.S. Durable Goods Orders. This movement highlights gold's defense against a mid-week rejection of a bullish trend, signaling the anticipated price pullback. Sellers flex muscles Gold is struggling to regain momentum, facing rejection from recent highs. With bearish signals from the MACD and an RSI close to 50, further declines in gold prices seem likely. However, strong support levels may challenge sellers' quest for lower prices. Key technical levels to watch In the past week, gold has seen multiple peaks and troughs, with the 50-day simple moving average (SMA) highlighting $2,715-$2,710 as a crucial support zone for sellers. Below that, the 38.2% Fibonacci Extension of gold's movements from September to October and the previous monthly high near $2,686 could attract bearish interest. Importantly, the upward-sloping trend line from early August and the 200-day SMA, around $2,657 and $2,638, respectively, will serve as final defenses for buyers before control shifts to sellers. On the upside, gold buyers are looking for confirmation from the lower boundary of the bullish channel, around $2,753. A successful breakout could lead to a rise towards the recent peak of $2,758 and potentially up to the channel’s upper line near $2,790. The 78.6% Fibonacci Extension at $2,772 and the $2,800 mark are additional upside filters to watch for the XAUUSD bulls. Bulls run out of steam Despite several strong support levels, the anticipated strength of the US dollar after upcoming economic data and recent technical consolidations indicate a potential short-term decline in gold prices. However, the overall bullish trend remains intact unless prices fall below $2,638.
OANDA:XAUUSD
by MTradingGlobal
Nifty Intraday Levels | 25-OCT-2024This trading strategy focuses on scalping Nifty options based on institutional support and resistance zones and executing trades using order flow data. Here's a quick summary of the key points: 1️⃣ Zones to Focus on: 👉Green Zone: Represents institutional support. 👉Red Zone: Indicates institutional resistance. 👉Gap Between Zones: Typically ranges from 100-200 points. 👉Zone Creation: Uses pivot points and Fibonacci levels. 👉Price Action: An advanced version for refined entries and exits. 👉Chart Reference: Trades are executed based on the Nifty futures chart. 2️⃣ Trade Execution: 👉Order Flow Data: Trades are triggered by tracking the market's order flow. 👉Timeframes: Focus on the 1-minute and 5-minute charts for quick scalps. 👉Risk-Reward Ratio: Strict 1:2 (Risk 1 to gain 2). 👉Strike Price: Target at-the-money (ATM) or slightly in-the-money (ITM) options. 👉Position Sizing: Customize based on personal risk tolerance. 3️⃣ House Rules: 👉Sharp Execution: Be ready at 9:15 AM for market open. 👉Risk Management: Always a priority. 👉Quick Trades: Fast execution "morning breakfast". 👉Strict Stop-Loss: Set at 10 points to limit losses. This method is well-structured for traders who prioritize risk management and quick scalping opportunities in the Nifty market. #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏 FOLLOW for more content! 👍 LIKE if you found it useful! ✍️ COMMENT below with your thoughts and feedback!
NSE:NIFTY1!
by ReviveTraders
Gold Prices ReboundHow are gold prices doing right now? Let's join Alisa for an update! Gold prices increased by $20, reaching $2,735 per ounce by the end of the trading session on October 24th. The main reason behind the gold price rebound last night and early this morning is the sharp decline of the U.S. dollar in the international payment basket. Specifically, the Dollar-Index fell by 0.22%, down to 104.200 points. Additionally, the upcoming U.S. Presidential election also contributed to the rise in gold prices. Looking at the technical chart, gold is currently supported firmly at $2,609, and prices are maintaining an upward momentum. Although the resistance level at $2,750 may cause some pressure, if prices adjust, the $2,670 level (previously resistance) will turn into new support. Given the current momentum, I predict that gold will break through $2,750 and aim for a target above $2,800. With such positive technical signals, I am optimistic that gold will continue its upward trend and reach higher price levels in the near future. What do you all think about gold prices today?
OANDA:XAUUSD
by Alisa_Rokosz
Natural gas we get 11 points profit in buy trade ,sell avoid Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
MCX:NATURALGAS1!Long
by JaiPrakashShuklaHarmonicTrader
3
Copper yesterday get 18 points profit on oct sold 805 low 787Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
MCX:COPPER1!Short
by JaiPrakashShuklaHarmonicTrader
1
Crude both side move possible take both side trade Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
MCX:CRUDEOIL1!
by JaiPrakashShuklaHarmonicTrader
1
Silver we get 2300 points ystd, 1500 on buy 800 on sellSilver pattern negative, Yesterday we get 2300 points profit total 15000 points profit on buy trade and 800 points profit on sell trade Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
MCX:SILVER1!Short
by JaiPrakashShuklaHarmonicTrader
Silver grt 1$ profit on buy and sell trades both taken negative Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
OANDA:XAGUSDShort
by JaiPrakashShuklaHarmonicTrader
Gold yesterday we get 540 points profit, pattern negative Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
MCX:GOLD1!Short
by JaiPrakashShuklaHarmonicTrader
Gold yesterday both side move pattern negative Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
OANDA:XAUUSDShort
by JaiPrakashShuklaHarmonicTrader
Gold is in correction Gold price facing resistance at Fibonacci golden zone (2733-39: marked with red zone) and now moving towards the support area (green zone : at Wednesday low), under PDH and under resistance trendline sell is good towards the support area where price seems to be completing H&S formation and the neckline is at 2708-10 area, if price breakdown from H&S formation a good correction is expected. On buying side we have to wait for breakout at PDH and breakout on the resistance trendline (Why Buying? because buying is still good if we go through the footprint chart ,if we watch last two days delta , the delta is negative but not strong enough to justify any deep correction as of now).
FX:XAUUSDShort
by TheGoldenCircle