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MGC1! trade ideas

Gold Will Shine Or Fade?Hi friends, Sharing an trading idea on Commodity Gold futures on daily chart as we can see that after hitting all time of 61800 levels all the way it came down 57900 (considering strong support) levels and took support there and resume rally again to 60000 levels with created a double top on this chart. So currently it is trading near to that support and seems that price want to touch that support again so once it will reach there we can see two things it breaks the support or bounce from support for targets for both situations marked on chart stop loss must be a close above or below from support in opposite direction of trade on daily candle closing basis. RSI indicator used below on chart for getting a better synchronization, that what can happen break or bounce. One can use own time frame for tracking this idea There must be a logic behind every trade, because trading on logics is always better than trading on speculations. Good luck happy trading Best regards. This is not and trade or investment advice. This idea is meant for learning only.
MCX:GOLD1!
by AMIT-RAJAN
8
Gold prices decline for a sixth straight day, hits seven-month lGold fell for a sixth straight day to the lowest in almost seven months, as the metal continued to test lower levels following hawkish signaling by the US Federal Reserve (Fed). Treasury yields climbed on Monday after a US government shutdown was averted over the weekend, pushing gold down to the lowest since March. The metal fell 4 per cent last week as a drop below $1,900 an ounce triggered outflows from exchange-traded funds, while hedge funds trading Comex futures cut bullish gold bets to a five-week low. The fall was triggered by Fed policymakers indicating monetary policy would remain tight for a long period. Non-interest bearing gold is now in a vulnerable position as it comes under pressure from a surge in bond yields from the US to Germany and Japan, which could lead to more investor selling. Later Monday, traders will look to US purchasing managers indices and an inflation gauge released by the Institute for Supply Management. At the end of the week, the headline jobs report will be eyed for its possible influence on the path of monetary policy. Spot gold dipped 0.8 per cent to $1,833.25 an ounce as of 10:49 a.m. in London. The Bloomberg Dollar Spot Index climbed 0.2 per cent. Silver, palladium and platinum all fell.
MCX:GOLD1!
by chetnaparmar833
Gold Bearish trendGold can fall to the level of 56097 with a small resistance at 56815 in the short term. Short term is negative on Gold and can wait for level 56000 to buy if it consolidates at this level. Otherwise buying can be seen only at 55000 level in short term as of now. This is for the short term and will wait in case further downside is seen even after reaching the 55000 level in the short term. Overall sentiment in gold is negative, good news related to the share market or positive in the IT/Banking sector will have a further negative impact as buying in stocks will emerge after a long downward trend.
MCX:GOLD1!Short
by niteshsingla87
GOLD - INTRADAY UPDATE - 28 SEPGold is expected to take a bounce from the 57500 support level. If gold fails to sustain above 57500, it could fall to touch 57250. The fall in gold is due to a stronger US dollar, higher treasury yields, and the upcoming US Federal Reserve rate decision. Analysis Gold has been falling in recent days due to a number of factors, including a stronger US dollar, higher treasury yields, and the upcoming US Federal Reserve rate decision. A stronger US dollar makes gold more expensive for buyers holding other currencies, while higher treasury yields make gold less attractive as an investment. The US Federal Reserve is expected to raise interest rates at its next meeting, which could further dampen demand for gold.
MCX:GOLD1!
by Shalvisharma5
GOLD MISS LEADING ? AND FOMOThis recent up move is just a pullback which did not retested out ob it is heading back to retracement area of 0.7 and 0.5 lvl but for short time gold is like to hover within 0.5 - 0.7 level (59665 - 59385) and there after there is resistance above at 60150 cant fit in with good risk to reward for investing or value buying better to avoid fomo 59970 and 58000 remains out intact buying area with small after this trigger will update further after new moves
MCX:GOLD1!
by Jimmy_Rebello