Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. 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
Long Term Sell Signal in Gold – Dollar Terms
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Gold Weekly Chart
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Gold on the last week had ruptured and closed below the long term support zone $1582 i.e the lower channel of the 13-13 Wilders Moving Average channel offset trading system. Now Chances are there than gold could mean revert towards the 200 Week SMA line somewhere around $1175-1280. And $1680 will be the key long term resistance for the current downtrend.
Gold Daily Chart
On the Daily Chart gold had given the strong sell signal on 12th Dec 2011 when it breaks the support zone $1705 it had lost nearly $150 of its value and currently it is trading below the 200day moving average($1630).
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Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. 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
