As per auction theory last session was a normal day,The label "Normal day" is misleading, for in reality, "Normal" days are more the exception than the rule. Normal days are generally created by swift early entry of the other timeframe participant, which has the effect of establishing a wide initial balance. Thereafter, both the other timeframe buyer and seller auction price back and forth between them, as balanced, two-sided trade ensues.
Normal days are often caused by a news announcement early in the trading session that triggers a strong other timeframe reaction, driving price quickly in one direction. For example, suppose that a bearish economic indicator released shortly after the open causes the other timeframe seller to aggressively enter the market and drive price lower. Eventually, price moves low enough to attract other timeframe buying, thus cutting off the selling activity. For the remainder of the day, there is
little strong directional conviction and price balances between the extremes.
--------------------------------------------------------------------------------------------------------------------------
In last session price reach in to the Weekly Demand Zone,But we didnot get an expected upside,Only minor strength is come.
As per NEo Wave downside continue.(Check last image)
Weekly trend is till down.(Check Weekly NEo Wave Plot)
For Today 1175.17/1192.50 are two important resistance levels and i am expecting short term targets like 1134.87/1121.95 and more.
One can buy for small targets/bounce after the breakout of trendline on daily chart,And my suggestion is use the bounce for sell.
Sell on every rise is recommanded.
One can buy positional above 4hourly charts trendline breakout closing basis.
Market Profile::
POC-1163.17
VAH-1165.15
VAL-1153.16
One can sell near POC and VAL with stoploss of above 10 tick previous days VAH.
PVAH-1168.77
Demand-Supply Zone::
In last session price breaks short term demand zone and goes near the weekly demand zone,Need faster bounce from this levels to validate the demand zone,Otherwise we can see new low in gold price.
Demand Zone::1149.46-1131.67
Supply Zone::1198.10-1195.16
If any zone broken then 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 will come.
(For SAR level check second last image)
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
Thank You.
Happy Disciplined Trading.
Normal days are often caused by a news announcement early in the trading session that triggers a strong other timeframe reaction, driving price quickly in one direction. For example, suppose that a bearish economic indicator released shortly after the open causes the other timeframe seller to aggressively enter the market and drive price lower. Eventually, price moves low enough to attract other timeframe buying, thus cutting off the selling activity. For the remainder of the day, there is
little strong directional conviction and price balances between the extremes.
--------------------------------------------------------------------------------------------------------------------------
In last session price reach in to the Weekly Demand Zone,But we didnot get an expected upside,Only minor strength is come.
As per NEo Wave downside continue.(Check last image)
Weekly trend is till down.(Check Weekly NEo Wave Plot)
For Today 1175.17/1192.50 are two important resistance levels and i am expecting short term targets like 1134.87/1121.95 and more.
One can buy for small targets/bounce after the breakout of trendline on daily chart,And my suggestion is use the bounce for sell.
Sell on every rise is recommanded.
One can buy positional above 4hourly charts trendline breakout closing basis.
Market Profile::
POC-1163.17
VAH-1165.15
VAL-1153.16
One can sell near POC and VAL with stoploss of above 10 tick previous days VAH.
PVAH-1168.77
Demand-Supply Zone::
In last session price breaks short term demand zone and goes near the weekly demand zone,Need faster bounce from this levels to validate the demand zone,Otherwise we can see new low in gold price.
Demand Zone::1149.46-1131.67
Supply Zone::1198.10-1195.16
If any zone broken then 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 will come.
(For SAR level check second last image)
-----------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
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.
No comments:
Post a Comment