Comex Gold - Selling The Tops at 1705 $-Case of Ending Diagonal

Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

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Happy to get the clue straight from the yellow metal & to see it unfolding as expected on 7th March 2020 video idea which was published on Indian Version - Nifty / Gold / USDINR - The important Juncture.


Video Idea (Click the Idea Below)

19:49

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Long Term Outlook
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A possible case of Ending Diagonal which suggest that the rally which started from 1045$ to 1705$ has completed & we look for downside Targets - 1045$ / 900$ / 750$


Short Term Outlook
Wait for some bounce above 1500$ in the zone 1590 - 1625$ zone - If you see the commodity getting rejected in the suggested zone then putting stops above 1635$ could be an opportunity for selling the commodity for
Targets - 1500$ / 1445$



Thanks for watching the video & stay classy till next idea.

Trade active:

15:36 Hrs / 16th March 2020

Last price - 1525 $

Strictly Intraday long positions can be made if 1500-1510 $ zone holds then as expected short term bounce will unfold towards 1590-1620$ zone.

Careful of all the levels mentioned & plan your trade with proper risk management.

Trade active:

17:06 Hrs / 16th March 2020

Last price @1479$

If you sold below 1500$ - Current low of 1465 could be profit booking level so wait to sell next on bounce upside in 1540-1550 & above 1550 for 1590-1620 zone or sell below 1445 $ next

Trade active:

18:55 Hrs / 16th March 2020

Last Price @ 1461 $

1st impulsive downside sequence from 1705$ could be done close to 1550 $ so probably we plan to sell next on bounce if happens -hence next selling can be planned from 1540-1550 or 1590 - 1620 $ zone or we sell below 1445 which is important level next.

Comment:

20:08 Hrs / 16th March 2020

Last price @ 1478 $

Typing Error - "1550 $" instead of 1450$ above. So,
1st impulsive done from 1705 $ to 1450 $ & we expect bounce upside to 1540-1550 & above 1550 to 1590-1620 $ zone

Trade active:

22:30 Hrs / 16th March 2020

Last price @ 1510 $

As expected bounce started from 1450 $ to 1520 $ movement done so far. Book Partial profits
& continue long positions above 1520 $ for 1540-1550 & above 1550 for 1590-1620 $ zone.

Thanks & Good Night from India.

Trade active:

07:33 Hrs / 17th March 2020

Last Price @ 1504 $

Image of 1st Impulsive down finished at 1450 $

Bounce started from 1450 $ to 1520 $ - where we booked partial profits & plan next buy above 1520$ for 1540-1550 & more above 1550 towards 1590-1620 $
Careful if it stays or holds below 1550 $

Trade active:

21:21 Hrs / 17th March 2020

Last Price @ 1530 $

Target 1 done in the zone 1540-1550 ----------------Recent High @1555

Trade active:

08:55 Hrs / 19th March 2020

Last Price @ 1473 $

Next Trading Strategy

--------------------------------------Do not Hurry in buying------------"if holds in 1465-1470 $---------------then plan for short term buying for 1520 / 1570-1590 $ target upside.

Buying Strategy is violated or considered null & void if it trades below 1465 $

Trade active:

23:20 Hrs / 23rd March 2020

Last price @ 1565 $

100 $ It pushed upside from 1465-1470 - it dipped slightly below but bounced back above 1470 $ & completed upside leg at 1569 $- Wow!!!

Good Night from India

Trade active:

23:42 Hrs / 23rd March 2020

Last Price - 1565 $

Be careful if yellow metal holds below 1570 $ - as it may drop to 1450 $ & even lower -----------strictly valid below 1570$

Downside Target - 1450 $ & more on downside.

Trade active:

19:26 Hrs / 30th March 2020

Last Price @ 1645 $

Wave -ii can never retrace 100 % of wave - i (Using this rule & connecting to equity reversal which was expected on 25th March 2020 - was eagerly waiting to pick the wonder waves.
India Nifty moved 800 + points on 25th-26th March 2020 -That is wonder wave

Comment:

19:27 Hrs / 30th March 2020

Last Price @ 1645

Comex Gold going below 1611 $ - can it slip hard