After Consolidation Gold has respected 70300-350. Now it is moving upward to retouch Previous high 73958 or higher. Buy here with stop loss 70300 target 73950.
Put Stoploss on closing basis.
(In Trading Time it may go above/below stoploss But closing price is most important).
These are levels are generated on the basis on Fibonacci Series
NOTE : I am not SEBI...
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
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update views-- gold spot abv 2347 looks upside 2355--2358 than after 2375+++ expect today where support 2337 if blw than mkt dwn side possible 2322--2325-- in mcx abv 71630 abv looks mkt 71780--72000 than after 72380-++++++ support indicate 71478 --71500 if break than more dwn side possible
gold spot eys on 2290 if stya blw eveng time thna nxt dwn ward soon 2260--2230+++++++ where hurdl 2325 only stya abv thna looks r turn possible in mcx 70789 abv will u turn possible other than mkt soon 69000++++++
Gold did a breakout a couple of weeks ago. it has retraced steeply in the last 2 sessions.
it has seen taking strong support at 70819
The long-term view for gold looks positive, and the trend will likely stay intact as the monthly MACD is up.
we may see retracement or correction in short term but for long term the view is bullish.
gold spot bwl 2345 blw looks dwn 2332--22 in mcx stya blw 71550 looks dwn fall till 71330--210++++++ where hurdel 2355 or in mcc 71779 only stya abv thna reversal possible one can sell on rise with hurdel sl
#Gold Update | April 2024
Timeframe: 4-hour
Gold found support at 71220 and rebounded similarly to the previous week's low.
Bullish sentiment prevails above 71630, while a bearish trend is anticipated below 71220. Stay tuned for a potential breakout.
Gold is known as a hedge against Inflation and currency devaluation. It is following the Time Cycle very well as u can see in this chart. Accumulating gold at current levels and on dips a can be a good strategy to ride the trend towards 70000 levels as long as 62000(cycle low) is held on the downside.
gold spot blw 2350 looks dwn fall till 2338--32 or blw 2330 more dwn fall til 2302$ in mcx styablw 71700 looks dwn fall 71580--310++++ where hurdel 72300 only stya abv thna mkt up side rally all eyes on middle east tension
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
