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GOLDPETAL1! trade ideas

GOLD - BULLISH OVERVIEW - 1 Hour Timeframe (19th -20th Sep)Technical Explanation: Gold is currently in an uptrend, as evidenced by the higher highs and higher lows that it has been making. The 59400 level (R1) is a key resistance level that gold needs to break through in order to continue its uptrend. If gold is able to sustain above 59400 (R1), then it will be a bullish signal, and further levels can be expected. Potential Targets: If gold breaks through 59400 (R1), then the next potential target is 59800 (R2). If gold is able to break through 59800 (R2), then the next potential target is 60200 (R3).
MCX:GOLD1!Long
by Shalvisharma5
GOLD long setup (check the description)we have captured the down trend since the beinginng on trend change currently price has breached some fair value area and ob's from medium time frame as i have captured the big trend personally i wont be shorting instead will wait for my buying zone 58810 and 58665 is new current resistace 58275 and 58120 is the level where price would like wick this level to sweep the liquidity and stop loss of remaining buyers there after 58090 - 57970 would be the non mitigated old order block where there will be order and we can new buying from this level 57650 to 57875 will be last demand zone for gold where it will be value zone for buyers
MCX:GOLD1!Long
by Jimmy_Rebello
OLD, an technical insight for the coming week 21.08.2023Gold Analysis for the Upcoming Week on MCX, India Date: 20th August 2023, 18:03 hours Technical Overview: Recent Performance: From 8th May to today's date, gold prices have witnessed a significant decline of approximately 5.49%. Moving Averages: The gold price has recently breached the 50-day moving average, which stands at 58,980. The 200-day moving average looms at 57,586. The cross below the 50-day indicates a bearish momentum in the short term. Potential Move: If gold price approaches the 200-day moving average of 57,586, there's potential for further downside towards 56,048. Oscillators: The asset is currently in an oversold condition, which can sometimes indicate a potential rebound. The optimistic signals stand at D: 6.54 and K: 3.21. MACD: The Moving Average Convergence Divergence (MACD) is still hinting at a bearish scenario, suggesting continued negative momentum. Fisher & Percentage R: Both indicators are positioned at the lower end, hinting at a potential bearish continuation. Fibonacci Levels: Post touching a low at the Fibonacci level of 57,653, gold made an upward move and attempted to break above the 0.5 Fibonacci level at 59,751 twice between July and August. However, it failed to sustain this and reversed its direction, breaking past the 0.382 and 0.236 levels. Current trajectory points towards a retest of the 57,653 level. Target Price for the Week: Considering the above technical factors and absence of any significant strategic updates from the Federal Reserve regarding interest rates, our projected target price for gold in the near term stands at 57,612. Disclaimer: This analysis does not provide any specific trading or investment recommendation. It is essential to note that the movements in gold prices can be significantly influenced by various macroeconomic factors and announcements from the Federal Reserve. Always consult with a financial advisor before making any investment decision. Disclosure: We do not have any vested interest in the gold market We may or may or maynot be having positions in the gold. This analysis is purely based on technical indicators and past market data.
MCX:GOLD1!Short
by finogent