MGC1! Last hour in this 4hr candle!!I want at least a close above 3339.2 and the 20EMA.
After that I have that 3355.8 - 3350 as my next target. A retracement from that range would not invalidate the bullish scenario as long as it stays above 3329.
Gold Guinea Futures
Gold Guinea Futures forum
MGC1! Last hour in this 4hr candle!!I want at least a close above 3339.2 and the 20EMA.
After that I have that 3355.8 - 3350 as my next target. A retracement from that range would not invalidate the bullish scenario as long as it stays above 3329.
MGC1! potential iceberg at 3339MGC1! Price reached that FVG I talked about yesterday.We're again seeing bullish divergences on the lower TFs, but in the higher TFs we can still see the bearish scenario as a possibility.
This is definitely a risky entry, but price has reached the .50 FIB and W2 target levels.
For a safer entry, you could look for a liquidity sweep candle, or a BOS candle with high volume.
MGC1! Messy pullback, going to wait and see what gold does before entering. Bullish bias, but definitely need more confirmation
MGC1! The next hour candle will be HIGHLY important. We could see a dip into that FVG below 3338 to trap bears and then a reversal to breakout from the downtrend.
We're already seeing some bullish divergences in the lower TF, which is why im suggesting one more dip, but the reversal could happen any time.
MGC1! I'm waiting for a pullback to take FVG at 3332 before going longMGC1! We got the break from the wedge pattern, but now im looking for a break above that 3352 and then 3363 possibly reaching that FVG range above. If we fail to break above 3352, we might be looking towards the bearish scenario that I shared on the weekend update.
MGC1! Price hit the FVG and is now at resistance of the wedge pattern.At the same time, we have a golden cross happening with the 9 and 20 EMAs, but it is still too early to know if it is legit or not.
The next level i am watching is 3352.6
Let's see how this next candle closes...
MGC1! Currently watching wedge pattern at works.We need a break above for a continuation up. It could still work towards the H&S that I talked about on the weekend update, but a rejection of a breakout could move price towards 3283 and below.
