It is been observed that the price action was ranging in a symmetrical triangle for a while. Now, the price action finally breaks out from the triangle, indicating strong selling pressure. The price shall now further move down as measured to the height of triangle. Short after a pullback to previous support of the triangle as marked.
The idea is not for any trading purpose. Just to be cautious on trading.
Gold (26.09.2016) is trapped in triangle range for more than 12 weeks now. However the movement could be considered as consolidation after a big run from $1040 mark. Gold again approaching to the upper descending trend line & this could be the final final move. A break above $1348-1350 area will open door for $1375 mark initially. Tip : Buy above $1350 mark for...
Gold has displayed the tendency to move from one congestion zone to another. Price has been in a congestion zone, a.k.a re-accumulation in Wyckoff terms, for a while now. The next destination seems to be the upper green box starting at $1,530-ish, extending all the way upto $1,804. Let's wait and watch. Pondering if it is time to increase weightage of gold in...
Reason : Continuation of prevailing up-move's next wave i.e. second leg. Time-frame : Two days
Head Ans Shoulder Patter and Ema 200 Ema 50 Ema 20 Price Above Ema 200-50-20...Support To Upside Trade Only Close Above Neckline My Side Target 1327.27 Sl 1306.06.... Remember In Prayer
Copper is a buying opportunity upon 50 to 61.8% fib retracement levels around 2.085 levels with stoploss just below 2.06 for targets of 2.15 / 2.20. This could turn out to be a correction or the start of a new rally.. Price action would give more details. Happy Trading!!
Sell Gold Both Level Touch 1317.67 1315.12 Remember In Prayer
As per Daily chart, the price action is consolidating in a symmetrical triangle. Showcasing Lower Highs and Higher Lows. Enter at Breakout to gain best out of it.
SELL ON RISE MY SIDE MY TARGET ----- 1267.67 MY SL -----1376.46 REMEMBER IN PRAYER