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GOLDM1! trade ideas

Gold MCX AnalysisGold MCX Analysis Current Status: Gold MCX is currently in a consolidation phase with no clear trading direction. Key Levels to Watch: Support Break: To establish downside momentum, watch for a break below 58880, which may signal a potential downtrend. Immediate Resistance: The immediate resistance zone is 59265-70. If the price approaches this level, it might face selling pressure. Fresh Buying: Consider new long positions if the price rises above 54450. For Long Positions: If you are already holding long positions, it's advisable to set a stop-loss (SL) at or below 58880 to manage potential losses. Note: Trading involves risks. Ensure you have a well-defined strategy and risk management plan.
MCX:GOLD1!
by iamrk7
2
GOLD FUTURE - BULLISH PRICE ACTIONBullish price action refers to a series of price movements and candlestick patterns in a financial market that indicate an upward or bullish trend is likely to continue or emerge. Here are some common signs of bullish price action: 1. Higher Highs : In an uptrend, each successive high should be higher than the previous one, demonstrating an upward momentum in prices. 2. Higher Lows : Similarly, each low in an uptrend should be higher than the preceding low, indicating that buyers are willing to step in at higher price levels. 3. Bullish Candlestick Patterns : Look for bullish candlestick patterns like bullish engulfing patterns, hammer, morning star, or doji reversals, which can suggest a potential shift in momentum to the upside. 4. Support and Resistance : When price breaks above a significant resistance level or a moving average, it can be a strong bullish signal. 5. Volume Increase : Increasing trading volume as prices rise is often a confirmation of a bullish trend. 6. Trendlines : Drawing an upward-sloping trendline connecting the lows can help visualize the bullish trend.
MCX:GOLD1!Long
by CA_Anand_Navander
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