XAUUSD Weekly NEo Wave Plot (27/01/2015)

In last week we witness some sideways with upside bias moves, As i have project in my last weekly report we witness the moves.(Check Last Image or Last Weekly Plot)

NEo Logic For Week:-

• We witness the expanding traingle in gold price.Last leg of triangle we witness till last week.
• Last leg of Expanding traingle come as impulse.
•  As per post pattern implication of expanding triangle,Its very difficult to retace last leg of traingle.
• From 1167.97 to 1307.67 is the last leg of expanding triangle,Means if my count is correct then we will never see 1167.97 for long time.
• We witness last leg as a impulse means its second logic,its very difficult to retrace entire impulse.
• But 4th wave of impulse it must be retrace for the confirmation of pattern end,Means we can see the low 1272.06 for completing pattern.

In this week i will post all details about impulse patten in my google group,to join group place the mail.

For this week 1254.28/1221.32 are two important supporting levels one can use this level to initiate the buy position for targets like 1360.99/1393.95,time frame for target is 3-4 weeks.
We can see the resistance on daily chart,but i think it will break.(Check Third image)
We can also see the support on 4hourly chart trendline.One can initiate the long for short term.(Check forth image)
So Buy on every dips should be respected.

Demand-Supply Levels For Week::
From last 2 weeks we can see price is not respecting supply zone,But in last week we can see there is fall from one supply zone,its first sign of weakness,Check 5th chart,But as per Neo logic buy on dips is recommanded.
Supply Level::1319.25-1308.64
Demand Level::1244.26-1224.92

Gold price is above all key moving averages as well as pivot levels,so short term strength is there.
Gold price first time after 4-5 months broken Monthly SAR level and come down to cool down hourly indicator.Gold is till above daily and weekly SAR levels so major strength is there,Above 4hourly SAR level more stregth will come.
(For SAR level chack second last image)
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Happy Disciplined Trading.