Freemium: Gold (XAUUSD) & Mentha oil

free commodity gold (xauusd) tips & daily chart

BEFORE

UPDATE: Gold’s Simplified Trading Strategy

I had written in clear words, “…according to Elliott Wave theory, it was in a corrective wave. It has completed the ABC, and now gold can start marching for a new impulse phase. Therefore, we can expect the gold’s target price 1782 – 1790+“.

AFTER

free commodity gold xauusd chart, tips, & updates

The first target of gold has come. Will it touch the second target?

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free commodity mcx menthaoil tips chart

BEFORE

UPDATE: Will Mentha Oil Touch 960 Level Again?

I had written in bold words, “MCX Mentha oil can bounce here. It can retest the 960. The intraday & short-term investors should enter around the support trendline for the targets of 926 – 936 – 958“.

AFTER

free commodity menthaoil trading tips chart

Today it has touched the first target.

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Gold: These Two Levels Can Change The XAUUSD Trend

free commodity gold (xauusd) tips & daily chart

Advice For Day Traders:

XAUUSD is not tradable between the range of 1766 to 1745. They are trend changer levels.

Gold’s Simplified Trading Strategy:

According to Elliott Wave theory, it was in a corrective wave. It has completed the ABC, and now gold can start marching for a new impulse phase. Therefore, we can expect the gold’s target price 1782 – 1790+.

In simple language, you should wait for the breakout of 1766 or 1745. Because of that’s a crucial level for XAUUSD traders.

If gold will breakdown the 1745 level, then the downtrend will begin. And that downtrend can drag it down up to 1730 – 1706 – 1686.

Please note, don’t forget to watch significant releases or events that may affect the movement of gold, silver, and crude oil: Read more

Will Bitcoin reach $1,00,000 Before 2022?

BTCUSD Bitcoin Cryptocurrency Signals

Bitcoin prices were moving upward at the beginning of 2021. But, its investors have seen heavy downfall into May to June. Afterward, it has hiked from 28600 to above 51356.

According to Elliott’s wave theory, it’s running under the 4th wave. We may see a sideways trend here. Bitcoin is preparing for a solid uptrend ahead. It’s a right to jump on Bitcoin for the long-term investment.

And the correction can be between the range of 28600 to 50000 because it will start marching for $1,00,000 soon. Read more

EWP: Will GBPUSD touch 1.400 before the next weekend?

free forex gbpusd 4h chart & signals

Price has made significant Low at 20th August 2021.
Extreme low has given us beautiful Impulsive structures.

Wave ((1))
Wave Nature: Motive wave
Type of motive wave: Impulse (Five waves)

Wave ((2))
Wave Nature: Corrective waves
Type of corrective pattern: Irregular or Expanded flat.
Retracement of wave ((2)): 50% of wave ((1)).

Wave ((3))
Wave Nature: Impulse (3rd wave can only be an Impulse with 5 waves)

Extension of wave ((3)) :
At this motion, price is riding on sub-wave (3) of wave ((3)).
Wave has an extension of ((3)) 161.8%, but the party is not over yet.
We are to get waves (4) and (5) of wave ((3)). One can expect 2.618% of wave ((3)) and even more!

Sub-waves of wave ((3)) :
Wave (1) is an impulse.
Wave (2) is an irregular flat.
Wave (3) is an impulse.

Extension: 161.8% of wave 1
The price extension of wave (3) is 161.8%. If the price breaks the 1.39154 level without any correction, we will have a powerful extension.

Wave (4):
According to rules of alternation, if the second wave seems flat & time-consuming, then wave four can be sharp and quick.
We may get a running triangle or a zigzag correction.

Common Retracement: 38.2% of 3rd wave at 1.38305
50% of 3rd wave at 1.38101
61.8% of 3rd wave at 1.37924

50% retracement for wave 4 is acceptable for two reasons:
1. An Important support level is the 1.38107 – 50% retracement level of Wave 3.
2. Wave 4 is more often complete nearby the sub-wave (4) of wave ((3)).

If the price breaks the hurdle line, Read more

FOMC Minutes: A confirmation for an explosive rally in XAUUSD

free commodity gold chart tips

Gold has started collapsing nonstop after Nonfarm Payrolls data. And it stopped at my ‘tested many times’ level. XAUUSD has recovered 50% almost in the previous week.

The gold spot needs to break the 1793.6 level to start an uptrend. Afterward, it will go for 1806 – 1826 levels. And these levels can push the gold price up to 1900.

But if gold breaks the strong support again, it will start falling. This time, it won’t stop! Hence, the short-term traders can start selling from there for the targets of 1744 – 1726 – 1684.

MCX Gold Will Have An Explosive Rally This Wednesday

MCX traders should keep their eyes on the 46720 levels. It’s a trend changer.

As per XAUUSD, Indian MCX Gold can raise 47500 – 48260 after a breakout of $1793.6. And if it breaks the strong support of Gold Spot, it will keep falling for targets of 46260 – 45860.

For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil. Especially, don’t forget to watch this Wednesday’s events to find out gold upcoming actions. Read more

Gold will come back to the $1800 level?

free commodity gold (xauusd) signals

On 16 July, gold has crashed over $60 during the FOMC event. At that time, Commodity Futures Trading Commission (CFTC) data was highlighting selling pressure.

Golds Commodity Futures Trading Commission (CFTC) data

And on 27 July, CFTC data was said OI (Open Interest) of a gold future contract is 500,187 and total shorts 481,533 & buys 452,107. But, gold prices increased.

We have to notice that the bullish rally wasn’t powerful compare to the 16 July data. And selling pressure has higher compare to buyers. Hence, gold has moved bearish side in the last trading session.

If gold wants to move upside, then it has to crossover my strong resistance. That will lead the gold’s prices above 1840 – 1860 – 1882 – 1900.

But if you focus fundamentally & CFTC data, XAUUSD will keep falling and touch the following targets: 1800 – 1793.6 – 1783.6 – 1763.6. Gold is making double top formation also.

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