MGCZ2025 bro gonna pop over 2% today, so strong
Gold Petal Futures
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MGCZ2025 bro gonna pop over 2% today, so strong
MGC1! Big focus this week is the NFP data. The market has priced in 3 rate cuts, but given recent fed speeches I think that we might likely end up with less than that. If so, then $3800 could end up being a premium price. And if NFP comes out even matching the forecast value, we might end up rangebound between 3850 to even 3600 for a while. We should be off to a quiet start to the week, and things should start picking up come Wednesday.
MGC1! The initial bias remains as we get closer to hitting the target range once again.- I'm looking at possible resistance at 3860-3850.
- We could be in a W5 of this move, so a consolidation after we hit the top will be expected.
Trust the Fib, Manage your risks
MGC1! Data came in as expected so it is going to be choppy. We do have a bearish rejection/supply around 3785 rejection, but the likelihood of seeing a cascade down at this point is quite low. Going to call it a week, have a good weekend y'all
GC1! GC Plan (NY AM): Trade the 3785 flip. Longs only on acceptance above 3785 toward 3811/3825/3839; or bounce long on a clean 3768 sweep-and-reclaim. Fades from 3811–3825 on first touch; breakdown shorts only on 15m body below 3768.
Manage 70/30 at TP1, BE runner, 45–60m time-stop. Data at 8:30 & 10:00 ET — wait for impulse, then execute.
MGC1! Going to be choppy until PCE inflation data comes out.
MGC1! Bleeding incoming.
GC1! this a mess here todayMGC1! 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.