Mcx Gold Again All Time High possible ???

[ashu1234]

@Ashu, for the red and blue line, what moving average settings are ya using?

No sir, its not a moving average, just a trend indicator. I don't rely on it but its good for overall trend, its based on wma.

 

[ashu1234]

Hi,
sorry for late reply, was travelling....on mcx price is still supported to some extent by usdinr, for now exit would be better if you could get rates above 48500-49000 or better exit in the morning coz from here it could drag drastically. Go long only above 20.85$ daily closing basis for now its a short.

Hope you get 49000 today as exit. According to me its a nice shorting point. Short with wide stop loss of 50K as sl.
All the best.

 

[coolnits]

Hope you get 49000 today as exit. According to me its a nice shorting point. Short with wide stop loss of 50K as sl.
All the best.

done short @49000 :thumb: fingers crossed now

but now what should be my target ?

 

[ashu1234]

done short @49000 :thumb: fingers crossed now

but now what should be my target ?

Expecting 46500 in long term. wait for the break of 22.60$ for down side. For the time being good entry is secured. Lets see......

 

[Klewtar]

No sir, its not a moving average, just a trend indicator. I don't rely on it but its good for overall trend, its based on wma.

@Ashu, thank you for letting me know that it is based on WMA. I think that WMA 25 is almost an ok medium term trend indicator.

I'm currently looking for medium term trend indicators.

 

[gunadevi]

Hi...

Silver is going high and Sluggish through its resistance level,
And Gold also moving like that.. But these could raise their level by crossing the resistance level soon..
Whatever, buying trend plays...

 

[ashu1234]

Hi...

Silver is going high and Sluggish through its resistance level,
And Gold also moving like that.. But these could raise their level by crossing the resistance level soon..
Whatever, buying trend plays...

Hi,
Please don't stay under notion that "whatever" or "buying trend" will always plays for you. Spikes in silver is only coz of some usdinr movement else we are short from 22.51 and here today its more than 1$ down. Its a classic trap in which many fall where a scrip moves one step upward people jump in and then it falls 4 steps downwards making it a breakout failure. There are many factors besides so called whatever in the market.
Attaching chart which will show you that trend is no a buy for silver currently.

 

[ashu1234]

48500 completed as unable to close on 22.7(did gave a spike but didn't sustained)
Silver downside target from here 20.5.

Silver low 20.55 on comex, Still some downside possible but sadly on mcx we will find it hard to breach 47k mark, anyways if we get at all levels near 47k, its better to book profits.

 

[ashu1234]

Silver low 47135 on mcx(courtesy usdinr spike)
Time to close positions.
:clap:

 

[coolnits]

@ ashu1234 sir silver near to 46500 as you said earlier . now what should be next move ? book proffit or wait ?