GOLD1! 99800 to 97400 goneGold (Mini) Futures (Apr 2026) forum
GOLD1! 99800 to 97400 gone
MGC1! CMP 3336.. more weakness expected...
MGC1! Just posted an update to the Weekend idea that I posted yesterday. Check it out:
Idea: $GC/$MGC/Gold - Weekend Update
MGCQ2025 Can anyone answer this question please? During the hour when futures stop, how is my contract value still going up or down? If market is closed what is moving or making my P&L go up or down?MGC1! Price seems to be reversing and without a break of 3418, we get back to our bearish scenario targeting 3283
MGC1! Analysis is on point so far. This is the current EW count that I am looking at. Watchout for 3418 and 3442 next.
Idea: $GC/$MGC/Gold - Weekend Update
MGC1! Geopolitical news may cause the markets to go crazy at open. For gold, we could have created an Wave 2 of a new 5 wave cycle, which puts our next target around 3690-3624. However, we do need a solid break above 3395.8 which is right below our POC.
My level to break for upside is still at 3442 and 3504. I am still being careful with the 3357 level and the possibility for a deeper retracement.
Hopefully I'll be able to record and post an update later today.
MGC1! A alternative count shows that we could be already on wave C of this retracement, I'm planning on recording a video about it, but im having issues with my setup. I'll keep yall updated
Bearish scenario seems to be the one playing out.
Im expecting a pull back that could go all the way towards 3428 and get rejected and continue down towards 3335.4-3283.8 target range.
A break above 3442.2 will indicate that price wants more upside, possibly reaching that 3504 level.
Im expecting a pull back that could go all the way towards 3428 and get rejected and continue down towards 3335.4-3283.8 target range.
A break above 3442.2 will indicate that price wants more upside, possibly reaching that 3504 level.
MGCQ2025 CMP 3363..Selling pressure building up....