Gold Futures (Aug 2017) forum
MGC1! I have the 1hr on the left and the 4hrs on the right and you can see what I meant with the last post. We have 2:42hrs left until the 4hr candle closes.
MGC1! We got 15min left in this 1h candle, and if price holds above 3408 and we do not have a reversal, we could have a breakout confirmation. It is still early to say and we might not even have a confirmation until the 4h candle is close, but it is looking like we might have a direction picked today.
MGC1! Hellow folks,Both scenarios that we are watching are still valid and as price approaches a confirmation level we gotta be aware of possible fakouts as we trade inside this flag/wedge pattern.
- A rejection of 3408 could drive us towards the other end of the pattern and a possible break to the downside.
- If we do have a rejection, I will be watching for price to find support at 3370 for my bullish bias.
- Levels to watch: 3408, 3346, 3283
Idea: $GC/Gold Elliot Wave Analysis …
GOLD1! Already given this trade on 16 July, target reached, book profit or trail sl as needed, will update new trade..tradingview.com/symbols/MCX-GOLD1!/minds/?mind=iG8hNLjLQ2WTdeH49XgX1A
GC1! -- possible trade opportunity based on technical analysis
GOLD1! wait 99500 or again 98000 gold in next few hours
GC1! I haven't posted anything on gold for some weeks. But I have to now! Gold readying for an explosive move
GC1! New Week Bias ▪︎Still bullish, in line with previous outlook.
▪︎Watching for a micro dip to Zone A before the next leg up.
▪︎A deeper dip to Zone B is possible but less likely.
▪︎ I’ll wait for micro confirmation in these zones post open.
🔒 Disclaimer: This post is for educational purposes only. Not financial advice. Always trade responsibly.
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