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GOLD1! trade ideas

Golden opportunity to buy some GOLD!!GOLD: The idea for Investment point of view-- As per Elliott I have marked my numbering & shared it here.. Here wave 1 got terminated at the 32500 level & wave 2 got retraced till 26925, where it tested recent support. Wave 3 is in extended mode and got terminated at 56298 & wave 4 got retraced till 44073 ( as I am monthly TF, so I am expecting simple corrections) & currently I am in wave 5 Projections as per fibonnaci-- wave 3 got super extended as shared (extreme bullishness), and wave 4 got retraced to 38% level. Now, let's talk about recent resistance & projections-- Resistance, check TL and if we talk about projections it should be somewhere above 38% to 61% extended till 100% , both chart shared.
MCX:GOLD1!Long
by ShubhamKatiyar
Gold- 60K+ possibleLooking at monthly chart for Gold, there are multiple technical parameters that are asking for a buy. After the top, gold fell to almost 44k which Fibonacci level of 0.618 on Monthly chart. It reversed from there and now forming a Cup and Handle Pattern along within a flag formation. This is a deadly combination for a big up move. This is important considering this is a monthly chart and has great significance. Considering this crosses 56K which is a strong resistance, it can move above 60K levels.
MCX:GOLD1!Long
by Chartworld1
GOLD FUTURES - View and Levels for 29 Nov 2022GOLD FUTURES Intraday levels for Tomorrow.. Gold Bearish and Negative Sentiment = BEARISH Trend At Buyers zone we can look for BUY entry and SELL entry at Sellers area. Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone will become Support. For Best entry, Wait for first 5m candle close. Go long when High breaks, take Short when low breaks. Keep SL high/low of the first 5m candle. Refer the chart for detailed Intraday Support and Resistance levels. Happy Trading!!
MCX:GOLD1!Short
by ViVenTraders
Gold: Analysis✔Gold was holding 50200 since mid of May. It held this level at three occasions (see chart) but finally broke it in the mid of September. ✔So, a lot of traders who bought at 50200 support, with stop loss underneath this level, were shaken out in this breakdown. Most would have reversed their positions to short. Gold revisited 50200 in a retest attempt and this normally attracts pullback traders to go short. So many short positions are supposedly added till the end of September, with stop loss just above 50200. ✔But as Gold managed to sustain above 50200 again, most stop loss orders got triggered leading to short covering. Everyone who was shorting below this level, had to buy in order to close their positions. Also fresh buyers would look to catch this opportunity. This huge flux of buy orders lead to a sharp rally. ✔Presently it is near 52000 round number which has acted as an important level in the past too. Also there is trendline resistance, joining April and August highs at around 52100. ✔So two things can happen around above resistance levels. Either buyers would absorb supply at resistance and push Gold to next resistance 52750-52800 in the short term or profit taking/sellers would push it back to 51000 or 50200. Only further price action would throw more light upon this. Thanks for reading. Do not forget to like for more such ideas in future.
MCX:GOLD1!
by Bravetotrade
3
GOLD IS GETTING READY TO MAKE HISTORICAL MOVEGold is getting ready to make new high. After the price mitigation on supply level , price couldn't break the low. Signifies that heavy buying is happening. Also the Rsi unable to break the 40 level. But opposite, it took support at 40 and getting ready to shoot upside. The Relative strength of Gold with Nifty is increasing. And the Stage analysis says it is just starting the stage 2 breakout (50 ema ). And Finally It is making the CUP with Handle Formation. TRADERS BE READY TO TAKE POSITION WHEN THIS HISTORIC MOVES BEGINS.
MCX:GOLD1!Long
by KunalFx