1OZ1! trade ideas
"Going for Gold: The Profitable Strategy of Shorting Gold FutureShorting gold in trading involves selling gold futures with the expectation that the price of gold will decrease, and then buying the futures back at a lower price to make a profit.
If the future price of gold is expected to be 44950, an investor who wants to short gold would sell a gold futures contract at the current price, with the expectation of buying it back at a lower price in the future
Gold may correct soon! Key highlights:
- Possible selling climax at previous ATH.
- ATH acting as a resistance.
- Buyers seem to be exhausted.
- Monthly demand zone 50-52k.
- May head towards the demand zone in the next 2 quarters.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
Gold, 10.02.2023publishing herewith my idea about gold using a week chart, gold is now at the low of a important price zone, if closes below it , could try the lower level of below zone in coming days, well also published imp monthly level below earlier, these levels acts as normal resistance or support in day trading but at the closing of month it becomes important
MCX Gold Mini: Tuesday: 07/02/2023#MCX #GoldM (Gold Mini) Evening Session:
Setup: Sell on rise.
An intraday trendline is around the 56900 level (as of now).
If it's broken, then it can fall another 50 rs easily.
Upside, it will face resistances around 57075, 57150-160 level.
OI Data (22nd Fed): Too small to infer anything. 57000-56000 is broder range.