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


MCX Gold Petal Tips

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 1
  • 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.

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.