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 risk
Gold Petal Futures
Gold Petal Futures forum
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.
MGC1! Depending on how the PCE data comes out this week, I think we might see Gold consolidate after all this upward momentum...for the remainder of the year even. Markets have been pricing in 3 rate cuts for the last few weeks. But given recent fed speeches, they might actually be going back to 2 or potentially even just the one rate cut we had in September. Obviously everything is data dependent, but I doubt we'll see 2 additional rate cuts unless upcoming jobs data releases are really bad.
MGC1! I'm glad I get to sit NY out. Looks like a warzoneMGC1! Target hit!How much further will we go?
