TGD1! trade ideas
"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
Gold, 10.02.2023publishing herewith my idea about gold using a week chart, gold is now at the low of a important price zone, if closes below it , could try the lower level of below zone in coming days, well also published imp monthly level below earlier, these levels acts as normal resistance or support in day trading but at the closing of month it becomes important
MCX Gold Mini: Tuesday: 07/02/2023#MCX #GoldM (Gold Mini) Evening Session:
Setup: Sell on rise.
An intraday trendline is around the 56900 level (as of now).
If it's broken, then it can fall another 50 rs easily.
Upside, it will face resistances around 57075, 57150-160 level.
OI Data (22nd Fed): Too small to infer anything. 57000-56000 is broder range.
[MCX] Gold Price Action OverviewNote -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
=======
I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. Please refer to the link to my footer and explore further if You want.
=======
I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
=======
Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
I also do my trades live, Please refer to the link to my footer if you want to tail me.
=======