breakouttrendline breakout happened in goldm watch for downside according to the fibbonaci levels ,educational purpose only
GL1! trade ideas
Gold Mcx
Gold Mcx
Expect near term correction to sideways volatility
unless 49800 is crossed immediately
for trend trend breakout.
RSI has shown a negative divergence.
A fall today with bearish candle suggest a swing top
for near term correction and sideways volatility.
A retracement of the last rally could happen
for correction and consolidation before making any
further attempt to move higher.
Confirmation of correction can be below today low from
tomorrow onwards.
GoldGold 1hr made supply zone and price retest it ..sell here and target next support zone around 49150.
MCX Gold: Descending Channel Pattern with Breakout at UpsideMCX gold will keep moving further advance up to the targets of 50000 - 51000 levels. But after the first target, gold will try to take a reversal for 0.382 to 0.236 levels of retracement.
Long-term Targets: 51575 - 52492+
Gold- Bearish ButterflyGold is moving in a bearish butterfly mode. 1967 is a resistance where it could see some sell off till 1870-1900 levels and then continue its upward journey to 2000+ levels.
CUP AND HANDLEThis is purely educational purpose .
Dont take any trade on my view .
Still Learning;)
For short term long goldMacd crossover, falling wedge pattern, Risk Reward in Favour
If you don’t buy keep on eye for study purpose.
Gold LongGold short term view.
if we sustain this trend line, can see 49400 in short term: 3-4 sessions
GOLD Future - CMP: 48784Gold has given Slopping Channel breakout on the daily chart. It has also given CUP-N-Handle pattern breakout. We can expect an uptrend in Gold. Price is likely to move up to 51450 in the mid-term. There is a hardel zone between 51800 to 52500. In the long term, we can expect price movement up 54500.
