MGC1! 4Hr Close above / Retest of Daily Fib. Level 50.0% EQ
Gold forum
๏ปฟMGC1! 4Hr Close above / Retest of Daily Fib. Level 50.0% EQ
MGC1! ๐ MGC Trade Plan Summary๐ Entry: Buy at 3,404 (after confirmed trendline breakout)
๐ฏ Target 1: 3,435 (~0.9%)
๐ฏ Target 2: 3,500 (~2.8%)
๐ Stop Loss: 3,370 (~1% risk)
๐ง Key Considerations
โ Confirmation: Wait for a clean breakout close
๐ Volume: High volume = strong breakout
๐ Sentiment: Macro conditions influence gold heavily
โ๏ธ Risk Management: Adjust size to your risk tolerance
๐ Macroeconomic Factors Affecting Gold
๐ Factor ๐ Impact on Price ๐ Current Trend
๐ช Geopolitical Tensions ๐ผ Increase Rising (e.g., Russia-Ukraine, U.S. tariffs)
๐ต U.S. Dollar Strength ๐ฝ Decrease Weakening amid trade fears
๐ฆ Interest Rates ๐ฝ Decrease Rate cuts expected from the Fed
๐ Inflation ๐ผ Increase Persistent โ gold seen as hedge
๐๏ธ Central Bank Buying ๐ผ Increase Accumulation rising in emerging markets
โ ๏ธ Economic Uncertainty ๐ผ Increase High โ safe-haven demand climbing
GC1! Buy & Sell Strategies๐ Buy Strategy:
Entry: 3,348.9 (near 0.5 Fibonacci level & FVG)
TP1: 3,397.0 (Current resistance) โ +48.1 points
TP2: 3,420.0 (Next major resistance) โ +71.1 points
SL: 3,297.6 (Below 0.618 Fibonacci) โ -51.3 points
๐ Sell Strategy:
Entry: 3,397.0 (Current price)
TP1: 3,348.9 (Near 0.5 Fibonacci & FVG) โ +48.1 points
TP2: 3,297.6 (Below 0.618 Fibonacci) โ +99.4 points
SL: 3,420.0 (Next resistance level) โ -23 points
MGC1! Boom! We have a breakout!I shared 2 scenarios last week about what i thought could happen on gold, and today we have our decision.
Price blasted through that trendline resistance and it is now going towards our Wave 3 target.
I hope everyone was able to get some profits out of this move!
There's still time, but be careful as price is getting close to our target!
GOLDQ2025 Just presenting an alternate chart and confirming my fellow traders view of a bullish break. I am long 3335
MGC1! 4Hr TF Current PA. I believe we will be bullish this week. Let's see!!
MGC1! And if you are keeping scores: Market Makers 3 x 0 CarameloOur glorious 3289.6 level held strong this week and we pumped all the way towards that 3347.7.
However, because we did not have a continuation, I did a recount of the waves to try to understand what is going on, and this is what I got:
Im looking at the possibility of the 5 Wave impulse being already completed and we are now either in an ABC correction or the beginning of a new 5 Wave impulse.
With that being said, I have 2 scenarios:
Blue Scenario - Price will finally break below 3289.6 and take us all the way back to that 3253 - 3205 Range and possibly retesting that gap range.
Red Scenario - Price might retest 3289.6 and hold, possibly doing some sideways accumulation before blasting off towards that 3430-3475 range.
We have strong buying happening at 3300.9 which could be where we find support for the next leg up, but we did have 2 rejections of that descending trendline and 3 of that 3347.7 level.
If you've been trading this range for this week, you banked. But hopefully by next week we will be out of it and price will finally choose its direction.
I hope yall have a great weekend!
GC1! Riding the ascending triangle. Possible Breakout out after this consolidation phase
GOLD1! mcx....Market open gap down....
see thursdays 2nd STBT sell call....
14lakh per 10lot 2days profit after market open gap down....
wait 95k or book profit and again 97k gold in next few hours....
GC1! sells let goo