Gold Petal Futures
GOLDPETAL1! trade ideas
GOLD MCX GOLD FORMING 5-0 HARMONIC PATTERN AND GARTLEY ON DAILY CHART
Sell gold below 56980 add more 57170 two days closing stop loss 57463 above target 56000-55200-54400-53500
taking two days closing just bcoz 2 big event upcoming first one is indian union budget second one is fed int rate
import duty should cut in budget expected already last 2 time hiked with high %
{{{{{ last posted not active Sell below 56466 with closing stop loss of 57200 above target 55200-54400-53500}}}}}
last idea attached below
"Going for Gold: The Profitable Strategy of Shorting Gold FutureShorting gold in trading involves selling gold futures with the expectation that the price of gold will decrease, and then buying the futures back at a lower price to make a profit.
If the future price of gold is expected to be 44950, an investor who wants to short gold would sell a gold futures contract at the current price, with the expectation of buying it back at a lower price in the future
Gold may correct soon! Key highlights:
- Possible selling climax at previous ATH.
- ATH acting as a resistance.
- Buyers seem to be exhausted.
- Monthly demand zone 50-52k.
- May head towards the demand zone in the next 2 quarters.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView