Gold Where iT iS Going , Shine Or Fade?

Updated

Hi friends sharing weekly chart of Gold for my trading ideas for it, As we can see that price is trying to bounce from near to 1808 levels which is very important and strong support and resistance levels for it. So i am sharing my trading idea below on the basis of that only levels.

1-If it will not break mentioned support levels of 1808 and sustain above with bullish strength and will give signs of bounce i will go for a long side trade in it.

2- If it will break support and close below then i will take a short side trade in it.

For both trade ideas targets marked on chart and i will wait for a weekly closing until unless not getting proper and strong signals in mid week. And will use a weekly time frame for this idea as i am taking big targets. Anyone can use own time frame for tracking these levels.

Rest i will share by the updates if i will find something intresting or important for sharing mates.

This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit

Note

So after so much upheaval finally we got a new range after making recent low and swing high after in today's session for taking a directional trade according mentioned in idea. Can do a trade also according to this update above or below closings before taking a directional weekly clsoing basis trade

Note

Still price is respecting support levels shared in update above mates and making maximum hits on support trednline i assume regular hits on support making it weak, waiting for a confirmation of breakout. will update idea accordingy want to wait according to my shared setup

Note

Weekly chart in it clearly we can see low price rejections on mentioned support

And after taking rejections on weekly chart it took resistance which i mentioned on two hour time frame chart in update avobe so we can say that we got a very complex range to take a trade sharing that 2 hour time frame chart with weekly chart too

Note

Due to current sentiments price opned above on target resistance so if price will sustain above this resistance can do fresh marked target also
tradingview.com/x/b2Ul3Br0/.

As per the update shared above now i am considering it's a support bounce on weekly time frame after touching exact mention support in main idea's chart and moving towards flip zone target

Note

Target update-:
Target one complete in above mentioned update mates

Note

Trailing stop loss update-:
Now i will trail my stop loss on entry price and will wait for the mentioned target for bonce on published chart mates.
Weekly published chart-:

Target Update-:
After getting bounce from weekly chart long position is in good gains now reached to marked target two, and successfully breached previous week's high too and heading towards mentioned target zone of 1890 and 1910 zones

Note

Target Update-:
After bounce price entred in target zone and completed the mentioned target one of 1890 on published chart now i will take some partial gains and will sit for the next target of 1910, after taking partial gains stop loss will be moved on entry price for remaining position....So far awesome gains mates cheers !!

Trade closed: target reached

Target Update-:
All mentioned Targets (1890-1910) complete after support bounce, still setup is looking bullish for me but closing this publication completely will publish a new one. All long entries closed which i took from 1848 levels and updated also in above updates, Nice gains !

AMIT-RAJAN

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Gold Will Shine Or Fade?

by AMIT-RAJAN

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