Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Gold Resistance Shifts from $1900 to $1800-1817 Band

21 sec read


 
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

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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