In last session we witness some sideways move with upside bias,Its all about cool down hourly indicators which was highly overbought.
I was given the stratergy to trade this situation on my facebook page.And after i am posting we sow the fall in gold price.
As weekly trend is up,We must have to find the buying opportunity in lower time frame as per our money managment system. (Check Weekly NEo Wave Plot)
In last week we witness the last leg of expanding trianlge and its very difficult to retace the entire last leg.
So For today 1290.53/1279.45 are two important supporting levels and i am expecting some sideways move and after that upside move.Which may leads targets like 1307.47/1318.55 and more.
Supply-Demand Levels::
We are very near to one supply zone,we need to see is market respect this supply zone??
Supply Zone::1308.64-1319.25
Demand Zone::1224.92-1244.26
Gold price is above all key moving averages as well as above some pivot levels so minor strength is there.
First time after few months gold goes above Monthly SAR level so major strength is there.
Below 4Hourly and Daily SAR level minor weakness will come.
(For SAR level check last image)
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Thank You.
Happy Disciplined Trading.
I was given the stratergy to trade this situation on my facebook page.And after i am posting we sow the fall in gold price.
As weekly trend is up,We must have to find the buying opportunity in lower time frame as per our money managment system. (Check Weekly NEo Wave Plot)
In last week we witness the last leg of expanding trianlge and its very difficult to retace the entire last leg.
So For today 1290.53/1279.45 are two important supporting levels and i am expecting some sideways move and after that upside move.Which may leads targets like 1307.47/1318.55 and more.
Supply-Demand Levels::
We are very near to one supply zone,we need to see is market respect this supply zone??
Supply Zone::1308.64-1319.25
Demand Zone::1224.92-1244.26
Gold price is above all key moving averages as well as above some pivot levels so minor strength is there.
First time after few months gold goes above Monthly SAR level so major strength is there.
Below 4Hourly and Daily SAR level minor weakness will come.
(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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