AbhishekHSinghCMT
Short

Gold--Enter the Dragon Channel below 1342$

COMEX:GC1!   Gold Futures
105 1 4
01:00 Hrs--IST--10th Aug 2016---Gold Currently trading at 1346$--very close to 38.2% retracement of the fall from 1371.5 to 1335 $--Wave -1..........(20 $--Trade)

Wave 2--Bounce was expected from 1335$ to 1348--1352$ --which is also done (10-15$ --Trade)

This Wave 2- could be partial wave --I mean to say --I will take this as Wave-W....so........

Trading Strategy-1: If Gold             enters dragon channel & sustains below 1342$...we can look for 1336--1337 $ (6$--Trade)

Trading Strategy-2: Flip your position with stop slightly below 1335$ --if you see gold             bouncing back from 1336--1337 $ Range...In That case ...Going Beyond 1348.5$ -Recent High...Can Travel till 1357$ --where it will complete 61.8% of the fall from 1371.5--to 1335$....

Alternate Scenario---Trading Strategy-3---Let say Gold             starts falling below 1342$ & comes to 1336-1337$ Range --where one should book profits & wait for fresh shorts below 1335$ low gets broken--In that case Gold             Fall will be severe....

Regards,
Abhishek             H.Singh, CMT            
Trade active: 11:55 Hrs--IST--10th Aug 2016----Gold Below 1342$ & When it enters the dragon channel....Never Happened ...Continued further upside...now -It has retraced 61.8% of the fall from 1371.5 to 1335$---Possibly, One should keep an eye open for the downside movement...which I will post...Regards, Abhishek
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out