As per auction theroy last session we witness the Normal Variation of a Normal day.
Lets discuss more about Normal Variation of a Normal 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 (compared to a Normal day).
Normal Variations typically do not have quite as wide of an initial balance as Normal days.Normal Variations typically do not have quite as wide of an initial balance as Normal days.For the duration of the day, the market's auction process involves the other timeframe buyer, other timeframe seller, and the local (referred to as two-timeframe trade). On this day, selling range extension causes value to be established lower
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As per NEo Wave after the fast fall in gold prices we witnessing form last 2-3 sessions sideways moves.This sideways move is at the place of Wave-B or Alternative Wave-ii.
Wave-B or Wave-ii,iv are the corrctive waves which consume more time and moves small price range.
In this waves subwaves may come as any corrective pattern like Flat,Triangle,Diametric.
I think from last two days we are witnessing the Flat pattern in Wave-B or Wave-ii,Wave-c will leads the more fall in gold price.(Check first chart)
Weekly Trend is till down.(CheckWeekly NEo Wave Plot )
We can see the exact bounce from weekly demand zone.(Check second last chart)
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-
VAH-1159
VAL-1149.02
POC-1154.01
One can sell near previous POC or VAH with the stoploss 10 tick above previous days high.
PPOC-1163.18
PVAH-1166.11
Demand-Supply Zone::
We can see the exact bounce from weekly demand zone,More fast bounce needed for the confirmation.
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)
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Thank You.
Happy Disciplined Trading.
Lets discuss more about Normal Variation of a Normal 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 (compared to a Normal day).
Normal Variations typically do not have quite as wide of an initial balance as Normal days.Normal Variations typically do not have quite as wide of an initial balance as Normal days.For the duration of the day, the market's auction process involves the other timeframe buyer, other timeframe seller, and the local (referred to as two-timeframe trade). On this day, selling range extension causes value to be established lower
--------------------------------------------------------------------------------------------------------------------------
As per NEo Wave after the fast fall in gold prices we witnessing form last 2-3 sessions sideways moves.This sideways move is at the place of Wave-B or Alternative Wave-ii.
Wave-B or Wave-ii,iv are the corrctive waves which consume more time and moves small price range.
In this waves subwaves may come as any corrective pattern like Flat,Triangle,Diametric.
I think from last two days we are witnessing the Flat pattern in Wave-B or Wave-ii,Wave-c will leads the more fall in gold price.(Check first chart)
Weekly Trend is till down.(CheckWeekly NEo Wave Plot )
We can see the exact bounce from weekly demand zone.(Check second last chart)
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-
VAH-1159
VAL-1149.02
POC-1154.01
One can sell near previous POC or VAH with the stoploss 10 tick above previous days high.
PPOC-1163.18
PVAH-1166.11
Demand-Supply Zone::
We can see the exact bounce from weekly demand zone,More fast bounce needed for the confirmation.
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)
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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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