Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
Gold Resistance Shifts from $1900 to $1800-1817 Band
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From the 4-Hourly charts we could see that gold had fallen below the 200 SMA for the very first time since 8th July with 20/50 EMA crossover on the hourly charts which indicates that 200SMA could act as a major resistance point. In the last post we had seen that 1900$ is acting as a strong resistance on the gold EOD charts with double bottom on the EOD charts. In coming days 1800-1817 band should act as a strong region with the 50 day EMA moving average could be the critical point of resistance on the 4 hourly charts
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Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
Gold is a one trading instrument where fundamentals are outlawed while inflation is skyrocketing and globally Central banks are racing for the interest rate...
