XAUUSD Weekly NEo Wave Plot (23/03/2015)

As per auction theory we witness the 'Trending Week'.Learn more about Trend Day/Week
As per NEo Wave we witness the upside move after making one weekly low,In last weekly report i have given two levels for buying and selling hope all followers made money in last week.
Last week we have seen the exact price reversal from last weekly Demand Zone.

NEo Logic For Week::

• In larger pattern we are witnessing Expanding Triangle.
• After making high of 1307.47 price fall till last week,Last week made one new low and after that price reversal come.
• From the 1307.47 we witness the Double zigzag / Double correction patter.
• In last week we witness the Wave-B and Wave-C Of zigzag.
• In lower time frame we witness the zigzag.(Check third image)
• For this week there are two possibilities,One is either we will get the post pattern implication of double zigzag and another one possibility is we will witness the another one corrective pattern with Wave-X
• Now how to treade this two possiblites ???
• If Last weekly low breaks then we can see the second possible scenario,Which leads target below 1110 and more.
• And of price is unable to break previous low and if we get the price faster price move in upside then first scenario is applicable.

 

 

For this week 1190.40 is very important level,above this level price will move more highers,Which may be the 80% of previous fall from 1307.47.
And if price moves below 1165.20 then minor weakness will come,Below weekly low price will make new short term low.
We can see the trendline support in 4hourly chart.(Check seventh chart ),If trendline breaks on closing basis minor weakness will come ,Otherwise uptrend will continue.

Market Profile::
Daily -
    POC-1158.21
    VAH-1175.26
    VAL-1150.95

Hourly -
    POC-1171.17
    VAH-1180
    VAL-1168.65
(For Daily MP Chart check Fourth Chart and For Hourly Check Fifth Chart) 


Weekly Demand-Supply Zone:-
Last week we witness exact price reversal from weekly Demand zone level
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 above some SAR level as well as Pivot levels so minor strength is there.
Gold price is above Daily and 4Hourly SAR level,above Weekly SAR level major strength will come.
(For SAR level check second last image)
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