A Breakout FLAG & POLE Pattern is visible on the chart of GOLD FUTURES on 1 DAY Time Frame.
Flag & Pole chart pattern is bullish pattern formation that signals an uptrend in the price on the chart.
Profit Targets in Flag & Pole pattern are typically targeted using the distance of 1st Flag & also called as price objective. The Flag is the consolidation phase...
As we said in the video that if gold give a breakout above 60400 then we can see a good rally in gold toward 61600
So gold gave breakout and sustained now we can see a good rally in gold of approx 800-1000 point
Gold CFD chart also look bullish
On the downside if gold break 60100 then this statement will be void .
now eyes on resstance 1973--75$ if stya abv or close abv thna nxt up side move will start 1990--2000+++++ or if unable to cross uper resstance than mkt dwn side again 1945--40$ where support 1930$ if blw mkt thna nxt dwn side 1910$ soon --------------------- in mcx lvl uper lvl 60700 if stya abv nxt rally till 1990-2000$ or if unable to break abv lvl mkt another dwn side
edu pur---gold stya blw 59900 looks slide dwn fall 59730 thna after 610-550++ expect where hurdel 60060 only abv may trend revert gold spot blw 1950 looks dwn fall only till 1934 or more where hurdel 1962 stya abv more fire work will start
Short Recap - Gold had good rally from 6th oct , to the upside from 56500 to 61250
Currently - price is hovering around the higher time frame bearish order block which is resulting a resistance phase to gold price from (61500 to 60500 zone)
there is been a internal CHOC (trend change) from bullish to bearish
although the bearish continous will be confirmed...
Potential Gold MCX Short Setup: A short position may be considered in Gold MCX if the price falls below 60620, with a stop loss set at 61150. Please note that this trade setup is only valid if the price does not breach 61120 before activating the short.
Disclaimer: Trading involves risks, and this is not financial advice. Always perform your own analysis and...
This the C wave of the correction. This is the most devastating wave of the three. A double top is a directional signal and is asking u to take note. We also have a Doji right at the zone indicting reversal. RSI has reached the bear zone of 60-65 at this crucial resistance and composite is at resistance too. Fib analysis is indicating a deep correction. Be...
