MGC1! Decent week overall. No breakouts in either direction quite yet but we are trending up on the 4hr charts. For next week, I'll be on a long bias if we break past 3380. However Powell will be speaking on Tuesday and I think he won't be in favor of rate cuts which means that our outlook could be bearish for the start of the week. I'll be looking for a manipulation during the Monday overnight session (possibly upto 3380), and I'll be trying to catch a good short entry if possible. Given how choppy we have been this month, I'm only going for entries with tight stops and quick targets. Have a good weekend y'allGold TRY per gram Futures forum
MGC1! Decent week overall. No breakouts in either direction quite yet but we are trending up on the 4hr charts. For next week, I'll be on a long bias if we break past 3380. However Powell will be speaking on Tuesday and I think he won't be in favor of rate cuts which means that our outlook could be bearish for the start of the week. I'll be looking for a manipulation during the Monday overnight session (possibly upto 3380), and I'll be trying to catch a good short entry if possible. Given how choppy we have been this month, I'm only going for entries with tight stops and quick targets. Have a good weekend y'all
MGC1! We did indeed dip near 3310 level, but stayed above with a nice recovery. I would still lean bullish overall especially being gold. If it doesn't break one way by tomorrow close, then lines intersect on Sunday open.
MGCQ2025 GOld will dip below 3200 after a while this week. Unless we have a positive catalyst
Powell's stay or departure affects the market, and gold is unlik
Idea: Powell's stay or departure aff…GC1! GOLD XAUUSD
Idea: Powell's stay or departure aff…
GC1! GOLD XAUUSDMGCQ2025 just straight waterfall please. This is so slow lolMGC1! One thing I am keeping an eye on is the shrinking gap between spot and futures. It has been declining at a steady pace and it's down to $6 from a high of $12. This can indicate a weakening demand for GC. 3350 broke down without much effort as well, so I'm leaning towards a bearish bias until I see the gap start to widen again. Or until I see a break of the 3360 level, which could happen if things heat up again in the middle east between Syria and Israel.MGC1! New gold long here based on 15 min 50 vs 200 golden cross. Target will be equal or higher high vs yesterday's high. Stop loss would be 3340 area, or ideally if you can position size small enough for swings I wouldn't be too worried about anything above 3310 area. Which is where Spot gold loses 3300. 8 hour 200 at 3332 so I would like to see any moves down towards that seeing nice buying pressure.
MGC1! Just came back to look at the charts. Crazy how much it can move based on just speculation and rumours alone, and how quickly it can retrace after rumours get dismissed. It goes to show why a tight stop is very important, one tweet is all it takes to bankrupt someone. We did break 3350, which was a key level to get past for a bullish scenario. I think we will be visiting that level again during Asia and London. If so, 3350 must hold for a bullish scenario.
MGC1! Why I lean bullish on gold.
MGC1! New long here. I don't love it, but let's see if we can break 3363.