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GOLD AT 60,000 , WHATS NEXT ??Short Recap - Gold had good rally from 6th oct , to the upside from 56500 to 61250 Currently - price is hovering around the higher time frame bearish order block which is resulting a resistance phase to gold price from (61500 to 60500 zone) there is been a internal CHOC (trend change) from bullish to bearish although the bearish continous will be confirmed if price breakdown and close below 60200 - 60,000 What to do - after the break and close of 60,000 short trade can enter with quick targets as this could be pullback on major time frame where as those willing to go long will need to wait for specific levels consider 58250-58000 zone as a value buying zone this can be tracked based on price shifting the stucture from lower low and lower high towards higher high to higher low as Long Indication
MCX:GOLD1!
by Jimmy_Rebello
Nifty : A Comparison with GoldHey Guys, How's your Saturday panning out ?! Today we are going to do an analysis which is different from our usual style. Actually we are gonna take Xauusd & Nifty for comparing the market dynamics & to realized how they work in sync. I had this in back of my mind for a while but cudn't post due to other works, so Now its the time. Take a look at Nifty what you guys see ? The descending triangle which broke to downside. Now Look at the Gold chart, what does it say ?? Similar descending triangle broke to downside retested triangle base and moved back further down breaking initial lows of triangle breakout. Now, take a look at Nifty again, as Gold did it made the initial low and retested triangle and currently moving further down, yet to break low of initial triangle breakout Its purely My opinion more than that, a speculation, yes lets call it as speculation. As Gold formed similar pattern we are expecting similar movement in Nifty also as it has repeated 70% of same movements. We can't take trade decisions based on this, but it can be valuable addition to expand our knowledge about Market Dynamics. I have another educated guess on Monthly chart too which I have attached, so you can get Eagle's Eye view, not just birds. In that monthly Nifty chart again another Market dynamics you can notice clearly which is marked in Grey rectangles, we had previously failed double top which retraces in half-way to bullish, so now also can we expect the same in Nifty ? Moreover if we need any additional factors seek out for newsevents. You guys know, I never analyze on news events but we can speculate. So with Trump winning & uncertain things about his policies, our very own Inflation & Indian markets dependency on Fed interest rate event - it appears like we have dark days ahead. Purely Speculation, so it may or may not happen.
NSE:NIFTYShort
by InsiderB
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