In last session first few hour we witness the fall in gold price,Which makes new weekly low and after that again we witness the bounce from weekly demand zone.
Weekly trend is till up till price will never give close below 1191.22 ,For more details Check Weekly NEo Wave Plot
For today also 1188.90 is very important level,If price is goes below this price and able to give close below this level then only weekly trend is change Otherwise price will go to reach the weekly preffered structures target which is 1239.67/1265.63/1285.65 and more.
I have adjust lower trendline on daily chart because of today given price action confirmation.(Check third chart of candlestick)
After few unsucessful breakout,and after resisting 4-5 session on trendline today we can see the trendline breakout with faster price move happend in smaller time frame trendline.(Check forth chart)
I hope as i have given in my last sessions report followers have initiated the buy position above this trendline.
Demand-Supply Zone::
We are witnessing the exact price reversal from weekly demand zone.
Demand Zone::1200.24-1199.37
Supply Zone::1211.88-1209.72
Price is very near to given supply zone touched 2-3 times most probable to price will break this zone,after the breaking this zone i will update new zone on my facebook page,One can get the link of facebook page at the end of this post.
Gold price is below four key moving averages and above one important moving average as well as below all pivot levels so minor weakness is there.
Gold price is below Daily,Weekly and Monthly SAR level and above 4Hourly SAR level so minor weakness is till there,above daily SAR level strength will come.
(For SAR level check last image)
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Thank You.
Happy Disciplined Trading.
Weekly trend is till up till price will never give close below 1191.22 ,For more details Check Weekly NEo Wave Plot
For today also 1188.90 is very important level,If price is goes below this price and able to give close below this level then only weekly trend is change Otherwise price will go to reach the weekly preffered structures target which is 1239.67/1265.63/1285.65 and more.
I have adjust lower trendline on daily chart because of today given price action confirmation.(Check third chart of candlestick)
After few unsucessful breakout,and after resisting 4-5 session on trendline today we can see the trendline breakout with faster price move happend in smaller time frame trendline.(Check forth chart)
I hope as i have given in my last sessions report followers have initiated the buy position above this trendline.
Demand-Supply Zone::
We are witnessing the exact price reversal from weekly demand zone.
Demand Zone::1200.24-1199.37
Supply Zone::1211.88-1209.72
Price is very near to given supply zone touched 2-3 times most probable to price will break this zone,after the breaking this zone i will update new zone on my facebook page,One can get the link of facebook page at the end of this post.
Gold price is below four key moving averages and above one important moving average as well as below all pivot levels so minor weakness is there.
Gold price is below Daily,Weekly and Monthly SAR level and above 4Hourly SAR level so minor weakness is till there,above daily SAR level strength will come.
(For SAR level check last image)
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For Intraday Update-Facebook-----------------------------------------------------------------------------------------------------------------------------
Thank You.
Happy Disciplined Trading.
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