Last week we witness some upside as well as some sideways moves,In my last weekly report given upside targets are achived (Check Last Image or Check Last Weekly Report)
In this week two scenarios are possible-
1) Either we will get post pattern implication of zigzag.(Which is max 80% of current upside) Which may leads fall till 1181.66/1165 and more.
2) Or we will get Wave-X and more upside of $91.57 from swing low.Which may lead targets like 1273.57/1294.85.
Check the first chart first preferred scenario is given in blue dotted lines and alternative scenario given in gray dotted lines.Blue dotted lines is the pattern implication of the zigzag and gray dotted line is x wave and another zigzag.
Now we will discuss how to deal with both situations-
If XAUUSD is able to break 1240.02 then only upside is possible,open long possition only above 1240.04
If XAUUSD is unable to hold 1203.28/1182 then some downside possible which may lead targets like 1165 and more.
Gold prices are below one important moving average,and above all another important short term moving averages so short term strength is there.
Gold prices are Below 4Hr SAR level so minor weakness is there.
Gold prices are above Daily and Weekly SAR level so short term Strength is there.
Gold prices are Below Monthly SAR level so main trend is till down.
(For SAR Level Check Second last Image)
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Thank You.
Happy Disciplined Trading.
In this week two scenarios are possible-
1) Either we will get post pattern implication of zigzag.(Which is max 80% of current upside) Which may leads fall till 1181.66/1165 and more.
2) Or we will get Wave-X and more upside of $91.57 from swing low.Which may lead targets like 1273.57/1294.85.
Check the first chart first preferred scenario is given in blue dotted lines and alternative scenario given in gray dotted lines.Blue dotted lines is the pattern implication of the zigzag and gray dotted line is x wave and another zigzag.
Now we will discuss how to deal with both situations-
If XAUUSD is able to break 1240.02 then only upside is possible,open long possition only above 1240.04
If XAUUSD is unable to hold 1203.28/1182 then some downside possible which may lead targets like 1165 and more.
Gold prices are below one important moving average,and above all another important short term moving averages so short term strength is there.
Gold prices are Below 4Hr SAR level so minor weakness is there.
Gold prices are above Daily and Weekly SAR level so short term Strength is there.
Gold prices are Below Monthly SAR level so main trend is till down.
(For SAR Level Check Second last Image)
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Your Suggestions And Feedback Are Welcome Also You Can Write Any Trading Related Query - neoxauusd@gmail.com
For Intraday Update-Facebook-----------------------------------------------------------------------------------------------------------------------------
Thank You.
Happy Disciplined Trading.
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