"Gold MCX seems bullish"
1.MCX Gold MACD Bullish
2.Candlestick consolidation. Once breakout, can take long entry..
3.Maintain Strict SL.
My view is for educational purpose only.
Gold has accomplished the final correction wave (Y) of wave ((B)) and has begun to form sub-waves of the corrective wave ((C)).
Currently, the price is at 100 EMA & the lower band of the parallel channel. It appears that the movement of gold is being dominated by bears, as it is making lower lows and lower highs.
If the price breaks down the parallel channel,...
All detail for chat. good entry at mark price only. and must stoploss is 51393 minimum risk and good profit. risk ratio 1:1 in first target. This is not call my idea only. Please understand your risk and take full responsibility of your actions
As you seen in the chart Elliott wave IN US GOLD CHART made ,upper side strong resistance i think it will not break easily and charts also strong in selling zone.
Now Gold has Reached upto very imp Price Zone ... From here we can Expect a sudden Fall / Pullback for a New Beginning towards Up Side Move ...
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Gold Futures
Gold trading at strong support levels
Earlier after giving breakout from this levels now retrace again to its strong support level
Can be positionally buy at CMP or above 50600 levels for short term targets of 50950 / 51250 & 51500.
Partially profit booking is also good, with trailing stop loss.
----
Note:
Above levels are for education purposes...
GOLD FUC
Disclosure : I am not SEBI registered.The information provided here is for education purposes only.I will not be responsible for any of your profit/loss with this channel suggestions.
Gold futures have retested a strong support and resistance zone and also breached a short term S/R zone. Looking good at CMP 50415 - safer above 50,600 for positional targets of 50945 and 51250.
Learn & Earn,
Dr. Tanya Kumar
Gold earlier risen with volumes in 2020 from 32500 to 44000 mark. Recent price action from 44000 to 55000 was with low volumes. Gold will be in range between 48000 to 52000 levels on MCX. Only support for Gold is due to INR devaluation and macro disturbance.
