Jump to content

Trade idea 10/10/22: short gold


MongiIG

Recommended Posts

There’s been a break of mini support for gold, but where now?

 

 Jeremy Naylor | Writer, London | Publication date: Monday 10 October 2022 

IGTV’s Jeremy Naylor has put on a short trade on the precious metal having witnessed a break of the $1,681 support line. Using the Fibonacci tool, he has his stop at 1,735 with a possible early hesitation at the 61.8% retracement price of 1,658.

Assuming gold continues its drop his price target is 1,615. That would represent a total Fib retracement. To back this up he is assuming that Thursday’s US CPI data will come in hot and possibly exceed targets, giving the dollar another leg up.

 

 

Gold price rebound eyes former support zone | IG South Africa

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Green Bitcoin (GBTC) blends the appeal of Bitcoin with Ethereum's environmentally conscious technology, offering sustainability alongside Bitcoin's scarcity and potential for price growth. A standout feature is its "Gamified Green Staking," allowing investors to earn rewards with APYs of up to 125%. What distinguishes GBTC is its emphasis on sustainable, long-term investment, earning recognition from experts like Kane Pepi, who praised it as a top cryptocurrency presale, raising over $6 million. With sustainability gaining global importance, could GBTC redefine eco-conscious investing?
    • MANEKI, a captivating token native to Solana, encapsulates the spirit of prosperity and good fortune. Its value dynamically responds to market sentiment, making it a magnet for both traders and enthusiasts. On Solana's platform, MANEKI has witnessed a surge in popularity, evidenced by its substantial $12 million bottom pool and the increasing number of addresses holding the coin. While its current utility is predominantly confined to trading, its allure lies in the potential it holds for the future.Much like the beckoning cat that symbolizes luck, MANEKI invites you to delve into the world of crypto luck. Whether you're a seasoned trader or simply curious, MANEKI is one to keep an eye on—the token whispering secrets of prosperity and wisdom.    
    • The Bitcoin halving has passed, and the market sentiment remains calm no much momemtum. However, other sectors like DeFi, gaming, and NFTs are thriving. The emerging DEPIN sector is also gaining traction, with Meson Network (MSN) catching my attention alongside Helium and Filecoin. While Helium revolutionizes credit with algorithmic approaches and Filecoin automates trading strategies with smart contracts, MSN stands out with its decentralized marketplace for computing power and cloud storage services. What sets MSN apart imo is its focus on decentralization, end-to-end encryption, and incentive mechanisms, making it a promising platform for developers and users. Its open-source code and connection with Web2 and Web3 applications open up real-world use cases like secure messaging, file sharing, and Dapps. With its censorship-resistant communication channel, MSN is poised to impact regions with internet censorship. As MSN gains traction with scheduled listings and availability on Bitget's pre-market, I wonder: Will MSN's decentralized computing power and cloud storage services make them stand out?  
×
×
  • Create New...
us