On the back of Crude inventories data released by American Petroleum Institute(API), according to which inventories fell less than expected, the commodity declined sharply citing lower demand. For further confirmation of the same one can watch crude inventories data about to be released by US government's Energy Information Administration (EIA) at 20:00 Hrs IST....
Descending triangle pattern spotted in Gold,suggesting bearish bias. Though the base of the pattern falls on 1403, immediately below is round number 1400. Hence it is advised to initiate short only if price closes below 1400 with stop above the falling trendline and target at 1380. Manage to book some profit at 1388 if price traverse through our predicted...
Double Top pattern spotted in Gold. Pattern will be confirmed IF PRICE CLOSES BELOW 1381.75. So shorts need to wait. Price would fall to 1332 as indicated by the pattern. 1382 acting as a support cannot be ruled out. Hence trades can be planned as below,
1. Long when price hit 1382 with stop below 1380 (or)
2. Short if price closes below 1381.75 with stop above...
Here is the video explanation of our latest blog from www.niftyanalysis.in about my trading ideas about Gold.
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Looking at weekly chart, down trend of gold was long over and has recently break out long side trend as well. Gold has formed breakout pattern on weekly chart, where it has surpassed strong resistance of $1365 (facing since February 2016).. If we look at long-term investment horizon 3-4 years, Gold is ready to take off for new all-time high. Targets are determined...
risk reward as far as i think its good in long trade , then to go short ,
i can be wrong but its fine , as the sl is small , while in short trade i might get stuck ! and reward nthere is clearly undefined !
I have found Bullish Gartley in Daily Chart . I have share perfect entry point, exit and stop loss point.
This is Long Term trade plan.
Wait for next week price will retrace entry point.
Give Like for support.