MGC1! Big L after a Big W. The market's way to teach me to stop overtradingTaifex Gold Futures (Apr 2026) forum
MGC1! Big L after a Big W. The market's way to teach me to stop overtrading
MGC1! The play is still valid, but it worries me that bearish volume was increasing and we now slowed down on volume, Depending on how price reacts in that "support line, I might be looking into cutting profits.If price breaks that ascending trendline below with high volume, I will take the L.
MGC1! This is our danger zone people. Monthly is closing with a stupid high volume candle, and the same is seen on the Daily and Weekly.These are the "Buyers Climax" candles that indicate early signs of a reversal.
Price will be giving us a bunch of bearish divergences to trap early bears, so thread lightly.
I don't believe we are reversing right now. This move down was just a quick ABC Retracement. There's high chances that the retracement is over, however our "danger zone" is there to remind me to watch price action carefully as there's a possibility of a longer ABC retracement.
My Wave 5 target is that 3800-3600 range but the fun thing is that price is at the ending of 3 different cycles of 3 different wave counts. The price action will be crazy and risky. We might be forming the ranges for a consolidation that could last at least 3 more months, possibly even more.
In the short-term, the bias is still bullish. But we gotta be watching carefully for price action is this range that we are in now.
MGC1! Just loaded some contracts... Lets see what happens
MGC1! Got in this trade today before open. Gold is fun to trade! Please give me some remarks, things for me to be aware as I approach the gambling table of gold futures.
XAUUSD GC1! Idea: ADP data is significantly bull…
ADP data is significantly bullish for gold, target 3330-3350
tradingview.com/x/Ezil5ZbX/
GC1! buyers voting for 3300