Last session we witness the upside in gold,As i told the possiblity of Double or Triple Zigzag and we witness the triple zigzag.Also i have told to initiate the sell position when trendline breaks and we can see trendline is never broken I hope no one initiate the sell position.
Check Weekly NEo Wave Plot
NEo Logic For Today-
We witness the triple zigzag in last session.So today we may witness the post pattern implication of the triple zigzag which is 80% of the entire rise. And today also i am suggesting to initiate the sell position only when trendline is broken(Check First Chart).
For today Initiate the sell position when gold breaks 1205.39 level and i am expecting downside targets like 1188.57/1180.42 and more.This statment is invalid if gold breaks 1224.02 level.
Initiate short only when trendline breaks on 4Hourly Chart(Check Third Chart)
We can see in daily chart trendine resistance is there(Check Second Chart)
1238.14-1224.59 is important supply zone.
1152.96-1150.61 is important demand zone.
In last session price never respect the supply zone,so minor strength is there.
Gold price is above some key moving averages as well as above some important pivot levels so minor strength is there.
Gold prices are above Weekly,Daily and 4Hourly SAR level so major strength is there,But weekly Trend is till down.
(For SAR level Check Last Image)
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Thank You.
Happy Disciplined Trading.
Check Weekly NEo Wave Plot
NEo Logic For Today-
We witness the triple zigzag in last session.So today we may witness the post pattern implication of the triple zigzag which is 80% of the entire rise. And today also i am suggesting to initiate the sell position only when trendline is broken(Check First Chart).
For today Initiate the sell position when gold breaks 1205.39 level and i am expecting downside targets like 1188.57/1180.42 and more.This statment is invalid if gold breaks 1224.02 level.
Initiate short only when trendline breaks on 4Hourly Chart(Check Third Chart)
We can see in daily chart trendine resistance is there(Check Second Chart)
1238.14-1224.59 is important supply zone.
1152.96-1150.61 is important demand zone.
In last session price never respect the supply zone,so minor strength is there.
Gold price is above some key moving averages as well as above some important pivot levels so minor strength is there.
Gold prices are above Weekly,Daily and 4Hourly SAR level so major strength is there,But weekly Trend is till down.
(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
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Thank You.
Happy Disciplined Trading.
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