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 Trading Outlook : On the Verge of Breakout
21 sec read
Gold Daily Charts
Gold price action remains muted despite the stock market crashing, global events like trade war, syrian attack. Its been trading in a very compressed range 1300-1350 range since the start of year 2018. Last 4 trading sessions price is making higher high and higher lows which shows the confidence of the players. Price maintains above 200MA since 2018.
Momentum on the daily charts holds positive. Immediate trendline resistance comes around 1355 levels. Breaking and holding above the trend line resistance could bring sustained momentum buying. Breaking the trendline resistance could bring a test towards 1385-1400 levels in the short to medium term.
Related
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...
