As per auction theory last session was Normal Variation Day.A Normal Variation of a Normal day is characterized by market activity early in the trading session that is less dynamic than that of a Normal day. As the day progresses, however, the other timeframe enters the market and substantially extends the range. It is as if the other timeframe participant had watched the auctions for a while, then decided price was opportune and entered aggressively. The other timeframe's conviction is more evident, due to range extension on this type of day.
As per NEo Wave after the fast fall we witnessing some sideways move,It is the place of Wave-B and alternative Wave-II.And in the place of Wave-B and wave-ii either we are witnessing Flat,Triangle or Diametric.
Weekly Trend is till down.(Check Weekly NEo Wave Plot )
For Today 1175.66/1188.58 are two important resistance levels and i am expecting short term targets like 1134.87/1121.95 and more.
We can see the trendline resistance on hourly chart,One can only buy above this trendline closing basis breakout.
Sell On Every Rise Should Be Respected.
Market Profile::
POC-1161.50
VAH-1166.14
VAL-1156.86
One can sell near previous days POC(Point of Control) or Near Previous days VAH with the sl above 10 tick from VAH
PPOC-1170.49
PVAH-1173.17
Demand-Supply Zone::
In last session we are very near to Weekly demand zone,and before touching this zone price move more faster on upside,but after some time we witness again fall.
Demand Zone::1159.5-1155.09
Supply Zone::1198.10-1195.16
Current Demand Zone is getting weak,This may be break in this session,I will update next zone on my facebook page.
Gold price is below all key moving averages as well as pivot levels,so major weakness is there.
Gold price is below all SAR levels,So short term weakness is there.Above Daily and 4Hourly SAR level minor strength may come.(For SAR level check last image)
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Thank You.
Happy Disciplined Trading.
As per NEo Wave after the fast fall we witnessing some sideways move,It is the place of Wave-B and alternative Wave-II.And in the place of Wave-B and wave-ii either we are witnessing Flat,Triangle or Diametric.
Weekly Trend is till down.(Check Weekly NEo Wave Plot )
For Today 1175.66/1188.58 are two important resistance levels and i am expecting short term targets like 1134.87/1121.95 and more.
We can see the trendline resistance on hourly chart,One can only buy above this trendline closing basis breakout.
Sell On Every Rise Should Be Respected.
Market Profile::
POC-1161.50
VAH-1166.14
VAL-1156.86
One can sell near previous days POC(Point of Control) or Near Previous days VAH with the sl above 10 tick from VAH
PPOC-1170.49
PVAH-1173.17
Demand-Supply Zone::
In last session we are very near to Weekly demand zone,and before touching this zone price move more faster on upside,but after some time we witness again fall.
Demand Zone::1159.5-1155.09
Supply Zone::1198.10-1195.16
Current Demand Zone is getting weak,This may be break in this session,I will update next zone on my facebook page.
Gold price is below all key moving averages as well as pivot levels,so major weakness is there.
Gold price is below all SAR levels,So short term weakness is there.Above Daily and 4Hourly SAR level minor strength may 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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