MCX Gold Tips for Today
The below MCX gold tips & technical levels charts are updated at 9.30 am everyday based on the previous days data of the mcx gold and today's open price which is fetched from our server. Based on the quant's advanced camarilla equation and today's mcx gold open we have plotted the possible reversal and break out levels tips. Please use the levels and charts below for trading purposes.
Last Updated: 26-04-2024
Long & Short Reversal Tips for Gold MCX, INDIA
Signal | Entry | Stop Loss | Target 1 | Target 2 | Target 3 |
|---|---|---|---|---|---|
Buy above | 70993.02 | 70732.05 | 71340.99 | 71427.98 | 71514.98 |
Sell below | 71514.98 | 71775.95 | 71167.01 | 71080.02 | 70993.02 |
Long & Short Breakout Tips for Gold MCX, INDIA
Signal | Entry | Stop Loss | Target 1 | Target 2 |
|---|---|---|---|---|
Breakout Buy above | 71775.95 | 71514.98 | 72211.38 | 72719.95 |
Breakout Sell below | 70732.05 | 70993.02 | 70296.63 | 69788.05 |
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 Intraday Tips Charts
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 target for today 26-04-2024
H6 | 72719.95 | Target 2 |
H5 | 72211.38 | Target 1 |
H4 | 71775.95 | Long Break Out |
H3 | 71514.98 | Go Short / Sell Below |
H2 | 71427.98 | |
H1 | 71340.99 | |
Pivot | 71155 | Pivot |
L1 | 71167.01 | |
L2 | 71080.02 | |
L3 | 70993.02 | Go Long / Buy Above |
L4 | 70732.05 | Short Breakout |
L5 | 70296.63 | Target 1 |
L6 | 69788.05 | Target 2 |
How to Trade the Free MCX Gold Tips
Trading is done on the basis of open of the commodity. Depending on the open price of gold 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 is between H3 : 71514.98 and L3: 70993.02
To Enter Long Position (BUY)
Wait for the price to go below 70993.02 and again when the rate moves back above 70993.02 Go Long. Stop loss can be placed at 70732.05
Targets will be Target 1 : 71340.99, Target 2 : 71427.98, Target 3 : 71514.98
To Enter Short Position (SELL)
Wait for the price to go above 71514.98 and again when the rate moves back below 71514.98 Go Short. Stop loss can be placed at 71775.95
Targets will be Target 1 : 71167.01, Target 2 : 71080.02, Target 3 : 70993.02
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 Short Term Tips
Short term levels are calculated based on the previous week mcx gold 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 | 76129.7 | TGT 2 |
H5 | 74962.53 | TGT1 |
H4 | 73963.25 | Long Break Out |
H3 | 73381.63 | Go Short / Sell Below |
H2 | 73187.75 | |
H1 | 72993.88 | |
Pivot | 72438.34 | Pivot |
L1 | 72606.13 | |
L2 | 72412.25 | |
L3 | 72218.38 | Go Long / Buy Above |
L4 | 71636.75 | Short Breakout |
L5 | 70637.47 | TGT 1 |
L6 | 69470.3 | TGT 2 |
Short Term Gold Buy & Sell Reversal Tips
Signal | Entry | Stop Loss | Target 1 | Tgt 2 | Tgt 3 |
|---|---|---|---|---|---|
Short Term Buy above | 72218.38 | 71636.75 | 72993.88 | 73187.75 | 73381.63 |
Short Term Sell below | 73381.63 | 73963.25 | 72606.13 | 72412.25 | 72218.38 |
Short Term Gold Buy & Sell Breakout Tips
Signal | Entry | Stop Loss | Tgt 1 | Tgt 2 |
|---|---|---|---|---|
Short Term Breakout Buy above | 73963.25 | 73381.63 | 74962.53 | 76129.7 |
Short Term Breakout Sell below | 71636.75 | 72218.38 | 70637.47 | 69470.3 |
Gold Trading Tips
The precious yellow metal has allured people since ancient times. Gold has been looked upon as an investment avenue since long. It is one of the most malleable and ductile metal and also has a high melting point and therefore it is easily recyclable. Due to these properties, it’s always in demand.
In ancient times it was used mostly to make ornaments and till today gold’s ornaments are in popular demand. Traditionally it was in practice to invest in gold by buying the physical quantities of it, but in modern days there are modern ways of investing in Gold.
Like many other commodities and non-ferrous metal, gold is also traded on the MCX.
On MCX, the price of gold is mainly driven by demand and supply, and therefore the gold market is volatile and speculative. Volatile markets offer ample of opportunities for the day traders to earn the profit.
Day traders can earn consistent profits by following these strategies:
- Trade by using correlation factor
Gold is strongly correlated to YEN positively and has a strong negative correlation with US Dollar. A day trader before taking a position should check these currencies index and can take the trade position to their benefits.
If YEN has moved up the chances are gold will move in the same direction. It had the negative correlation with US Dollar. Therefore, when US Dollar is moving up, one should expect gold prices to come down.
However, while using correlation factor to trade, market sentiments should not be avoided.
- Following strict stop-loss
Intraday traders have a concise time frame to make a profit, and often they end up in making massive losses. So it is better to play the intraday trades by putting the strict stop-loss. In the case when a trade goes wrong, and stop-loss is hit then it is advisable to accept the mistake and exit the trade rather than being optimistic and ending up in a considerable loss.
Remember minimizing the losses are also considered as gains when we talk about intraday trades as they are very risky and volatile too.
- Market Sentiment and Trend
In a day it often gets difficult to gauge the trend set by the market, but it is relatively easy to understand the market sentiments and play in that direction to take a position and make a profit out of it.
- Exit policy
For a day trader, it is essential to set the realistic goals and exit when the goals are met. Often, day traders are caught in greed and end up losing on a trade that could have resulted in profit if they would have exited at the right time.
Trading is an art, and it comes by practice and patience. By following these strategies and strict emotional discipline, a good amount of profit can be earned in the market consistently.
We are gold tips specialist. 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. If you are looking for hni gold tips with single target, only gold tips providers or online mcx gold silver commodity tips services contact us for free trial, we can able to help you out with best accurate tips with 100% Guaranteed Satisfaction. These technical levels of commoditiy mcx bullion gold are updated every day.
