As per auction theory we witness the Normal Day.other timeframe buyer and seller auction price back and forth between them, as balanced, two-sided trade ensues.
As per NEo Wave after the fast fall we witness some sideways day,May be normal flat pattern is going to form in the place of Wave-B.
And Wave-C may leads another fall in gold price.We can see the Wave-A and Wave-B of flat in lower time frames NEo Wave Chart.
Weekly Trend is down. Check Weekly NEo Wave Plot
For today 1180/1190.25 are two important supporting level and i am expecting short term targets like 1144.32/1134.07
We can see the trendline resistance on hourly chart,Only above close can leads some upside,Otherwise trend is down.
Market Profile::
VAH-1173.05
VAL-1167.87
POC-1170.69
According to the market profile,Sell On Rise Should be respected,On can sell at POC or Near VAH with the stoploss of 10 tick above VAH
(Check Second and third chart)
Demand-Supply Zone::
There is very weak demand zone,Most probability this zone may break,I will update next zone in my facebook page when any zone breaks.
Damend Zone::1166.43-1162.11
Supply Zone::1198.10-1195.12
Gold price is below all key moving averages as well as pivot points so major weakness is there.
Gold price is below all SAR level so major weakness is there,Some strength possible only above Daily and 4Hourly SAR level.(For SAR level check last image)
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Thank You.
Happy Disciplined Trading.
As per NEo Wave after the fast fall we witness some sideways day,May be normal flat pattern is going to form in the place of Wave-B.
And Wave-C may leads another fall in gold price.We can see the Wave-A and Wave-B of flat in lower time frames NEo Wave Chart.
Weekly Trend is down. Check Weekly NEo Wave Plot
For today 1180/1190.25 are two important supporting level and i am expecting short term targets like 1144.32/1134.07
We can see the trendline resistance on hourly chart,Only above close can leads some upside,Otherwise trend is down.
Market Profile::
VAH-1173.05
VAL-1167.87
POC-1170.69
According to the market profile,Sell On Rise Should be respected,On can sell at POC or Near VAH with the stoploss of 10 tick above VAH
(Check Second and third chart)
Demand-Supply Zone::
There is very weak demand zone,Most probability this zone may break,I will update next zone in my facebook page when any zone breaks.
Damend Zone::1166.43-1162.11
Supply Zone::1198.10-1195.12
Gold price is below all key moving averages as well as pivot points so major weakness is there.
Gold price is below all SAR level so major weakness is there,Some strength possible only above Daily and 4Hourly 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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