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ORO1! trade ideas

GOLD MCXGold has possibly completed its complex correction in wave II and now it looks like wave III is unfolding, today it has given breakout from the down sloping resistance trendline, along with macd positive crossover and uptick in daily time frame, other indicators are also giving positive signs of uptrend at breakout point, as wave III unfolds, gold can possibly rise higher towards 52000 and more, one can go long at these levels or in dips ( if any ) with key levels mentioned on chart. wave struchture could be like this key levels are mentioned on chart macd in weekly macd in daily ready to bbc rsi in daily uptick and ready to cross above 60 levels dmi adx positive ungali Disclaimer I am not sebi registered analyst My studies are for educational purpose only Consult your financial advisor before trading or investing
MCX:GOLD1!
by RK_Chaarts
MCX GOLD TRADINGYellow metal on MCX may remain volatile, traders can take a short positions. CMP : 46635 at 1:15 (IST) Stop Loss : 46810 Target : 46225 On th October, MCX Gold DEC Contract made a low of ₹ 46477, which is expected to be broken by today or tomorrow amidst a firmer dollar and a rise in US Treasury yields weighed on the precious metal’s appeal. Yellow metal will remain under pressure this week. Buy on dips strategy could work for both the precious metals. Buy zone above - Rs 46,850 for the target of Rs 47,300 Sell zone below - Rs 46,500 for the target of Rs 46,200 December Gold closing price - Rs 46,757, Support 1 - Rs 46450, Support 2 - Rs 46,300, Resistance 1 - Rs 46,850, Resistance 2 - Rs 47,125. MCX:GOLD1!
MCX:GOLD1!Short
by moneymarine
MCX Gold Price Limited Downside, Big UpsideMCX gold has started falling since 1st June, and it's moving under a parallel channel. But this time, it can break out this channel. Why? I will explain it through Elliott wave projection in the next update. In the last trading session, it made a Doji candlestick. And that's a sign of trend change. If gold does not break the crucial level, then it can drop up to 0.382 to 0.236 . In simple words, short-term targets: 46200 - 45960 - 45765 And for long-term traders: 45600 - 45060 But, the uptrend isn't far away. If gold does breakout of 46860 level, then we may see 47276 - 47600 - 47960+ . Don't get confused! You have to watch out the level 46860 for an uptrend, and the closing price below the Doji candle indicated a bearish trend signal. This week we may see higher fluctuations due to upcoming economic events. Watch the following significant releases or events that may affect the movement of gold, silver, crude oil, & natural gas: Monday, Oct 04, 2021 15:30 OPEC Meeting - Medium Impact Tuesday, Oct 05, 2021 19:30 ISM Non-Manufacturing PMI (Sep) - High Impact Wednesday, Oct 06, 2021 02:00 API Weekly Crude Oil Stock - Medium Impact 17:45 ADP Nonfarm Employment Change (Sep) - High Impact 18:30 FOMC Member Bostic Speaks - Medium Impact 20:00 Crude Oil Inventories - High Impact 21:00 FOMC Member Bostic Speaks - Medium Impact Thursday, Oct 07, 2021 18:00 Initial Jobless Claims - High Impact 20:00 Natural Gas Storage - Low Impact Friday, Oct 08, 2021 18:00 Nonfarm Payrolls & Unemployment Rate - High Impact
MCX:GOLD1!
by freestocktips
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