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.

MCX Gold in Sell Mode on SDA2 Hourly charts

25 sec read


 
MCX Gold rallied to its record high Rs 23940 per 10 gram , as growing fears about gloomy outlook of US economy and increasing spread of the European debt crisis. On the technical aspects MCX gold is in sell mode on the hourly charts as per SDA2 trend trading method. MCX Gold is in buy mode on the hourly timeframe since 29th July 2011. Also the stocastic indicator had dipped below the overbought zone(> 80) and sloping downwards towards the oversold zone ( < 20 ). News

South Korea’s central bank bought 25 tons of Gold between June and July to diversify its foreign reserves despite high prices, marking its first purchase in more than a decade and taking its total Gold holdings to 39.4 tonnes

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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One Reply to “MCX Gold in Sell Mode on SDA2 Hourly charts”

  1. Even though it was in sell mode …it managed to reached 26780 🙂 net gain of 11% in approx 11 days 🙂

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