GC1! Pullback in and back out of the value area would be a sweet play
Gold Futures (Jun 2024) forum
GC1! Pullback in and back out of the value area would be a sweet play
MGC1! Anybody else SHORT on GOLD ?
GC1! Dump Like its hot!!
GC1! Gold sell going great , 7 points in ..Lets see how it goes
MGC1! And we got a break from the TL, but 3359 held strong as a resistance level.
Right now, the rules are simple but complicated at the same time.
- Price has reached an acceptable level for another wave down towards our bear target. For that to be confirmed, I'd like to see this mini trendline i created to break as well as the last higher low at 3332.
- For the bullish scenario, i'd like to see price to hold the mini TL and break through 3359 towards our bull target. I'll assume we are done with the retracement once we take that 3388.7 - 3400 range and hold.
I might get back to making videos to share the analysis, since I have 2 different scenarios that could be playing out on gold that I want you to be aware.
I hope we all had a good monday! See yall tomorrow.
Right now, the rules are simple but complicated at the same time.
- Price has reached an acceptable level for another wave down towards our bear target. For that to be confirmed, I'd like to see this mini trendline i created to break as well as the last higher low at 3332.
- For the bullish scenario, i'd like to see price to hold the mini TL and break through 3359 towards our bull target. I'll assume we are done with the retracement once we take that 3388.7 - 3400 range and hold.
I might get back to making videos to share the analysis, since I have 2 different scenarios that could be playing out on gold that I want you to be aware.
I hope we all had a good monday! See yall tomorrow.
MGC1! The retracement is still playing.
Right now im looking at these 2 possibilities.
As you can see, price is struggling to get back in towards that POC at 3382. Our down trendline is also holding.
This fail will take price towards our retracement target.
If bulls prevail and we are able to break in, I'd still be very careful on any swing plays for it as it is likely it will be a bull trap and price will then continue towards our retracement target.
Right now im looking at these 2 possibilities.
As you can see, price is struggling to get back in towards that POC at 3382. Our down trendline is also holding.
This fail will take price towards our retracement target.
If bulls prevail and we are able to break in, I'd still be very careful on any swing plays for it as it is likely it will be a bull trap and price will then continue towards our retracement target.
MGC1! I am expecting a retest of the trendline break, and as a alternative scenario, If the breakout is a fake, we could see a scenario like the one showing in the chart happening.
MGC1! And there it is!
We got a break of our uptrend, so Now im assuming we hit our Wave 5 target.
For a retracement, Im expecting wave A to end around that 3300 level, followed by a choppy retracement towards 3355.6 and then a continuation towards 3252-3208.
We got a break of our uptrend, so Now im assuming we hit our Wave 5 target.
For a retracement, Im expecting wave A to end around that 3300 level, followed by a choppy retracement towards 3355.6 and then a continuation towards 3252-3208.
MGC1! Indexes flying and China trade deal? Things could get bloody here soon...
GC1! Gold Futures: Strategic Buy and Sell Zones with Fibonacci and Volume Profile Insights
VIP Levels:
📢 Buy Level: Entry 3341.786
TP1 3370.814 (+29 points)
TP2 3389.4 (+47.6 points)
SL 3321.122 (-20.664 points)
📉 Sell Signal: Entry 3411.7
TP1 3356.3 (-55.4 points)
TP2 3341.786 (-69.914 points)
SL 3420.0 (+8.3 points)
VIP Levels:
📢 Buy Level: Entry 3341.786
TP1 3370.814 (+29 points)
TP2 3389.4 (+47.6 points)
SL 3321.122 (-20.664 points)
📉 Sell Signal: Entry 3411.7
TP1 3356.3 (-55.4 points)
TP2 3341.786 (-69.914 points)
SL 3420.0 (+8.3 points)