MCX Gold Petal Tips for Today
The below MCX gold petal tips & technical levels charts are updated at 9.30 am everyday based on the previous days data of the mcx gold petal and today's open price which is fetched from our server. Based on the quant's advanced camarilla equation and today's mcx gold petal open we have plotted the possible reversal and break out levels tips. Please use the levels and charts below for trading purposes.
Last Updated: 30-05-2023
Long & Short Reversal Tips for Gold Petal MCX, INDIA
Signal | Entry | Stop Loss | Target 1 | Target 2 | Target 3 |
|---|---|---|---|---|---|
Buy above | 5963.1 | 5953.2 | 5976.3 | 5979.6 | 5982.9 |
Sell below | 5982.9 | 5992.8 | 5969.7 | 5966.4 | 5963.1 |
Long & Short Breakout Tips for Gold Petal MCX, INDIA
Signal | Entry | Stop Loss | Target 1 | Target 2 |
|---|---|---|---|---|
Breakout Buy above | 5992.8 | 5982.9 | 6009.13 | 6028.21 |
Breakout Sell below | 5953.2 | 5963.1 | 5936.87 | 5917.79 |
For your easy understanding we have plotted the above reversal and breakout level scenarios explanation in a easy readable charts below with entry, targets and stop loss.
MCX Gold Petal Intraday Tips Chart
The Equation involves two types of trading one with the trend and one against the trend, the important levels to note are the L3 and H3 levels, where you may expect a reversal to occur (Research shows that reversals from L3 and H3 happen as often as 4 out of 5 times – 80% during intraday trading. ), and the L4 and H4 levels where you may expect a major breakout to occur.
Live Intraday Tips : Camarilla levels & mcx gold petal target for today 30-05-2023
H6 | 6028.21 | Target 2 |
H5 | 6009.13 | Target 1 |
H4 | 5992.8 | Long Break Out |
H3 | 5982.9 | Go Short / Sell Below |
H2 | 5979.6 | |
H1 | 5976.3 | |
Pivot | 5970.33 | Pivot |
L1 | 5969.7 | |
L2 | 5966.4 | |
L3 | 5963.1 | Go Long / Buy Above |
L4 | 5953.2 | Short Breakout |
L5 | 5936.87 | Target 1 |
L6 | 5917.79 | Target 2 |
How to Trade the Free MCX Gold Petal Tips
Trading is done on the basis of open of the commodity. Depending on the open price of gold petal there can be five different scenarios occurring. Each scenario is discussed in a very detailed manner below.
- SCENARIO 2
- SCENARIO 3
- SCENARIO 4
- SCENARIO 5
When the open of mcx gold petal is between H3 : 5982.9 and L3: 5963.1
To Enter Long Position (BUY)
Wait for the price to go below 5963.1 and again when the rate moves back above 5963.1 Go Long. Stop loss can be placed at 5953.2
Targets will be Target 1 : 5976.3, Target 2 : 5979.6, Target 3 : 5982.9
To Enter Short Position (SELL)
Wait for the price to go above 5982.9 and again when the rate moves back below 5982.9 Go Short. Stop loss can be placed at 5992.8
Targets will be Target 1 : 5969.7, Target 2 : 5966.4, Target 3 : 5963.1
About Camarilla Pivot Point Intraday Trading Strategy :
Camarilla pivot point ( mean reversion ) is a very popular intraday trading strategy still used by many traders which has an astounding accuracy with consistent performance.
Camarilla pivot point theory is an advanced form of the existing normal classical pivot point strategy founded by Nick scott a very successful bond trader in end of 1980’s It is highly accurate for trading high beta stocks and commodities. The Equation works on thesis that price most of the time has tendency to revert to its mean.
Other MCX Free Tips
MCX Gold Petal Short Term Tips
Short term levels are calculated based on the previous week mcx gold petal open high low close. Here today's open doesn't play a major role, henceforth use the levels calculated below for possible reversal and break outs for your short term positional trading.
H6 | 6149.26 | TGT 2 |
H5 | 6091.2 | TGT1 |
H4 | 6041.5 | Long Break Out |
H3 | 6011.25 | Go Short / Sell Below |
H2 | 6001.17 | |
H1 | 5991.08 | |
Pivot | 6010.33 | Pivot |
L1 | 5970.92 | |
L2 | 5960.83 | |
L3 | 5950.75 | Go Long / Buy Above |
L4 | 5920.5 | Short Breakout |
L5 | 5870.8 | TGT 1 |
L6 | 5812.74 | TGT 2 |
Short Term Gold Petal Buy & Sell Reversal Tips
Signal | Entry | Stop Loss | Target 1 | Tgt 2 | Tgt 3 |
|---|---|---|---|---|---|
Short Term Buy above | 5950.75 | 5920.5 | 5991.08 | 6001.17 | 6011.25 |
Short Term Sell below | 6011.25 | 6041.5 | 5970.92 | 5960.83 | 5950.75 |
Short Term Gold Petal Buy & Sell Breakout Tips
Signal | Entry | Stop Loss | Tgt 1 | Tgt 2 |
|---|---|---|---|---|
Short Term Breakout Buy above | 6041.5 | 6011.25 | 6091.2 | 6149.26 |
Short Term Breakout Sell below | 5920.5 | 5950.75 | 5870.8 | 5812.74 |
We master in reversal and break out levels price analysis and prediction. Get the powerful reversal and breakout level Free MCX Tips for the 16 major commodities listed on the multi commodity exchange of India. Technical levels & free tips of the mcx bullion gold petal are updated every day.
