MGC1! Bleeding incoming.GOLD Futures forum
MGC1! Bleeding incoming.
GC1! this a mess here today
MGC1! current price action suggests a deeper retracement than what I was expecting.- If we lose current support => 3739.8 support
- Below 3739.8 we have a free fall towards 3680 zone where the POC for the range in the chart is located.
- I'm still holding my bullish bias towards a move inside that 3800+ zone, but we do have to be aware of other possibilities.
Trust the fib, Manage your risks
MGC1! Hit my TP. Likely to go down a lot further especially if you're swinging. But you never know.MGC1! I'd recommend holding onto any shorts that you entered close to the top. If data comes negative, gold can go down quite a bit today. Flipside is that we will be bullish if data comes positive, but the downside reward is much higher compared to upside riskMGC1! Could potentially dip below prior NY low, depending on GDP dataMGC1! Massive Liq sweep, let's see if we go down now.
GOLZ2025 shorting to 3,700
GC1! Primary: SHORT 3812–3820 if 15m rejection → TP1 3799 / TP2 3783 / TP3 3760; SL = 15m wick high +0.5–1.0.
Alt: LONG only on 15m acceptance ≥3820 and 5m hold; TPs: 3828–3832 / 3835–3842 / 3865–3868; SL = 15m pullback low −0.5–1.0.
MGC1! Currently watching price behavior around 3783.5 and 3774.1- my bias is for bullish continuation towards the W3 target range above 3800.
- If price return to the support levels on the chart, it could be a great buying opportunity
- If those levels are broken, I will be looking for a buying opportunity around 3739.8 level.
