GOLD MCX UPDATE || MAY 15 - 16
Aktualisiert
Technical Analysis - Potential Cup and Handle Formation
Timeframe: 1 Hour
Pattern: Cup and Handle (developing)
Buy Zone: 72400 - 72500
Target Zones: 72800, 73000, 73200
Rationale:
The chart appears to be forming a cup and handle pattern. The cup is a U-shaped price movement that indicates a period of consolidation after a price increase. The handle is a smaller, downward price movement that breaks the consolidation slightly before resuming the upward trend.
Confirmation:
Breakout: A confirmed breakout from the handle (trading above the handle's high) would strengthen the bullish case.
Volume: Increased volume on the breakout would add confidence to the signal.
Risk Management:
Stop-Loss: A stop-loss order can be placed below the handle's low to limit potential losses if the pattern fails.
Notes:
This is a developing pattern, and confirmation is needed before taking a trade.
Technical analysis is not a perfect science, and other factors can influence the price movement.
Always conduct your own research and due diligence before making any investment decisions.
Timeframe: 1 Hour
Pattern: Cup and Handle (developing)
Buy Zone: 72400 - 72500
Target Zones: 72800, 73000, 73200
Rationale:
The chart appears to be forming a cup and handle pattern. The cup is a U-shaped price movement that indicates a period of consolidation after a price increase. The handle is a smaller, downward price movement that breaks the consolidation slightly before resuming the upward trend.
Confirmation:
Breakout: A confirmed breakout from the handle (trading above the handle's high) would strengthen the bullish case.
Volume: Increased volume on the breakout would add confidence to the signal.
Risk Management:
Stop-Loss: A stop-loss order can be placed below the handle's low to limit potential losses if the pattern fails.
Notes:
This is a developing pattern, and confirmation is needed before taking a trade.
Technical analysis is not a perfect science, and other factors can influence the price movement.
Always conduct your own research and due diligence before making any investment decisions.
Kommentar
Gold near it's last target 73200
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.