SGU1! trade ideas
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Gold trading at strong support levels
Earlier after giving breakout from this levels now retrace again to its strong support level
Can be positionally buy at CMP or above 50600 levels for short term targets of 50950 / 51250 & 51500.
Partially profit booking is also good, with trailing stop loss.
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Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Use a strict trailing stop loss.
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Gold Price Predictions for 2022In the previous trading session, MCX Gold made a high of 51538 and closed at 51343 ( +444 ). A question is, is it moving upward?
To identify uptrend:
There are two hurdles to continuing the uptrend. It should break out the 5th May high or settle above the control line.
According to the above chart, Gold is forming a bullish flag pattern. And we're waiting for a breakout of the flag pattern. This breakout will skyrocket the gold price, and we can see 6400+ points of bullish movement here. Long-term target for gold 58000 - 60000 .
Gold downtrend confirmation:
But if gold breaks the support trendline (invalidation), then a downtrend may start. And if it happens, I will update you asap.
At present, intraday traders can keep buying for targets of 51500 - 51800+ levels.
Watch significant releases or events that may affect the movement of gold, silver, and crude oil.
Monday, May 09, 2022
04:30 FOMC Member Bostic Speaks - Medium Impact
11:00 Investing.com Gold Index - Medium Impact
18:15 FOMC Member Bostic Speaks - Medium Impact
Tuesday, May 10, 2022
17:10 FOMC Member Williams Speaks - Medium Impact
18:00 FOMC Member Bostic Speaks - Medium Impact
21:30 EIA Short-Term Energy Outlook - High Impact
Wednesday, May 11, 2022
00:30 FOMC Member Mester Speaks - Medium Impact
02:00 API Weekly Crude Oil Stock - Medium Impact
04:30 FOMC Member Bostic Speaks - Medium Impact
18:00 Core CPI (MoM) (Apr) - Medium Impact
20:00 Crude Oil Inventories - High Impact
22:31 10-Year Note Auction - Low Impact
23:30 Federal Budget Balance (Apr) - Low Impact
Thursday, May 12, 2022
10:30 Natural Gas Storage - Low Impact
13:30 IEA Monthly Report - Medium Impact
Friday, May 13, 2022
08:30 Import/Export Price Index (MoM) - Low Impact
11:00 FOMC Member Kashkari - Medium Impact
12:00 FOMC Member Mester Speaks - Medium Impact
13:00 U.S. Baker Hughes Oil Rig Count - Medium Impact
Gold M levels for 26-4-2022It is possible to test upper trend line and fall from there, IF RSI indicator stable in between 60-40 zone in 1 hour tf, no trade today.
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. If you follow diagonal trendlines you can take entry and exit easily. (Color code (only for diagonal trendlines ): green - bullish, red - bearish, black & violet reversal points). If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. It is all your own risk.
W pattern in Gold. Bullish signs ahead?Although I am more of a trend follower, dabbling into Technical Analysis always excites me (which is literally opposite to the philosophy I preach). You can call out the contrarian in me and I will not have any issue with it. :D
Anyway, this example is another classic 'W' in the making. Once the resistance line is broken, there should be no looking back in short term.
Goldm level for 19-4-2022Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. If you follow diagonal trendlines you can take entry and exit easily. (Color code (only for diagonal trendlines ): green - bullish , red - bearish , black & violet reversal points). If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. It is all your own risk.
Gold Mini reversal zones for 11-4-2022Try to buy at low and sell near high until final levels break.
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
