In last week we witness some downside and after that we witness some upside,In my last weekly NEo wave report i was told about downside moves and reach near about my first target .
(Check last image or Check last week report)
This week also i am expecting one littel bounce and after that fall in gold prices.
1204.46/1217.36 are very important resistance levels and i am expecting targets like 1162.79/1149.69
Bullish scenario open only above 1240.02 otherwise trend will remain down.
(Check first image)
NEo Logic:-
In last week i have given two possible scenarios one is post pattern implication of zigzag and another one is x wave and double corrective pattern.
Price action breaks the previous monowaves low so i can give label :L5 at 1238.25.
Still there is chances of x wave.
Need more price action for deciding the labels.
This week also two open scenarios one is either we are continue with the post patter implication of the zigzag or if gold prices broken 1240.02 then x wave and double corrective pattern will come.
Gold prices are below some important key moving averages as well as below weekly and daily pivot levels so short term weakness is there.
Gold prices are below all SAR levels so medium term weakness is there.
Above 4Hourly and Daily SAR level minor strength will come,medium term trend will change above Weekly and Monthly SAR level.
(For SAR level Check Last Image)
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Thank You.
Happy Disciplined Trading.
(Check last image or Check last week report)
This week also i am expecting one littel bounce and after that fall in gold prices.
1204.46/1217.36 are very important resistance levels and i am expecting targets like 1162.79/1149.69
Bullish scenario open only above 1240.02 otherwise trend will remain down.
(Check first image)
NEo Logic:-
In last week i have given two possible scenarios one is post pattern implication of zigzag and another one is x wave and double corrective pattern.
Price action breaks the previous monowaves low so i can give label :L5 at 1238.25.
Still there is chances of x wave.
Need more price action for deciding the labels.
This week also two open scenarios one is either we are continue with the post patter implication of the zigzag or if gold prices broken 1240.02 then x wave and double corrective pattern will come.
Gold prices are below some important key moving averages as well as below weekly and daily pivot levels so short term weakness is there.
Gold prices are below all SAR levels so medium term weakness is there.
Above 4Hourly and Daily SAR level minor strength will come,medium term trend will change above Weekly and Monthly SAR level.
(For SAR level Check 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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