Last session was Trending Day according to auction theory.Lets Discuss more about Trending Day..
Trend Day
Dynamics There are two types of Trend days: the "standard" Trend day and the Double-Distribution Trend day. The most important feature of a standard Trend day is the high level of directional confidence that is evident throughout the day. The other timeframe buyer or seller remains
in control of the auction process virtually from the day's open to its close. In addition, as a Trend auctions higher or lower, it continues to draw new business into the market, thus creating unidirectional, sustained price movement fueled by higher volume.
Double-Distribution Trend Day
Dynamics The second type of Trend day, the Double-Distribution Trend day, is relatively inactive during the first few hours of the trading session. Market participants possess a low level of conviction, resulting in a narrow base. Later in the session, a change in events causes the other timeframe to perceive price to be unfair at current price levels, enter the market aggressively, and substantially extend the range. This later entry by the other timeframe drives price to a new level, where a second
balance region develops. The Double-Distribution Trend day does not possess the steady confidence of a typical Trend day and must stop and "reassure" itself after a substantial move.
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In last session first few hours we witness some sideways moves and after that we witness the upside move in gold price.
Price exactly bounced from Weekly Demand Zone.
Check Weekly NEo Wave Plot
As per weekly NEo Wave Report price make one new weekly low and then price moves more higher.
For Short term 1182.14 is very important level,Above this level closing basis more upside will come,And till below this level weakness is there.
We can see the trendline resistance near the current market price,Or todays high.(Check First and Fifth Chart)
Till trendline on daily chart broken closing basis,sell on every rise recommanded.
Market Profile-
Daily-
VAH-1163.33
VAL-1150.58
POC-1156.96
Hourly-
Today price open above the VAH and consilidate there and come down.
VAH-1165.53
VAL-1145.80
POC -1150.87
Demand-Supply Zone::
We can see the bounce from Weekly Demand Zone.(Check Second Last chart)
Demand Zone::1149.46-1131.67
Supply Zone:: 1209.34-1196.33
If any zone broken in this week i will update next zone on my facebook page.
Gold price is below all SAR level as well as Pivot levels so major weakness is there.
Gold price is Below all SAR levels so major 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.
Trend Day
Dynamics There are two types of Trend days: the "standard" Trend day and the Double-Distribution Trend day. The most important feature of a standard Trend day is the high level of directional confidence that is evident throughout the day. The other timeframe buyer or seller remains
in control of the auction process virtually from the day's open to its close. In addition, as a Trend auctions higher or lower, it continues to draw new business into the market, thus creating unidirectional, sustained price movement fueled by higher volume.
Double-Distribution Trend Day
Dynamics The second type of Trend day, the Double-Distribution Trend day, is relatively inactive during the first few hours of the trading session. Market participants possess a low level of conviction, resulting in a narrow base. Later in the session, a change in events causes the other timeframe to perceive price to be unfair at current price levels, enter the market aggressively, and substantially extend the range. This later entry by the other timeframe drives price to a new level, where a second
balance region develops. The Double-Distribution Trend day does not possess the steady confidence of a typical Trend day and must stop and "reassure" itself after a substantial move.
-------------------------------------------------------------------------------------------------------------------------
In last session first few hours we witness some sideways moves and after that we witness the upside move in gold price.
Price exactly bounced from Weekly Demand Zone.
Check Weekly NEo Wave Plot
As per weekly NEo Wave Report price make one new weekly low and then price moves more higher.
For Short term 1182.14 is very important level,Above this level closing basis more upside will come,And till below this level weakness is there.
We can see the trendline resistance near the current market price,Or todays high.(Check First and Fifth Chart)
Till trendline on daily chart broken closing basis,sell on every rise recommanded.
Market Profile-
Daily-
VAH-1163.33
VAL-1150.58
POC-1156.96
Hourly-
Today price open above the VAH and consilidate there and come down.
VAH-1165.53
VAL-1145.80
POC -1150.87
Demand-Supply Zone::
We can see the bounce from Weekly Demand Zone.(Check Second Last chart)
Demand Zone::1149.46-1131.67
Supply Zone:: 1209.34-1196.33
If any zone broken in this week i will update next zone on my facebook page.
Gold price is below all SAR level as well as Pivot levels so major weakness is there.
Gold price is Below all SAR levels so major 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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