Rajandran R FollowTelecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)
Will $1200 will be the support for Gold?
20 sec read
Due to the holiday season in US and Europe the volatility in stock, commodities and forex had came down drastically and it is expected to continue till the New Year Eve.This year is the first year since 1997 that gold will finish with a double-digit drop.
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However the short term outlook on gold looks bullish with supports coming around $1197 on the intratrend hourly charts. One can maintain a positional buy mode as the level holds and reverse your position to positional shorts if the support breaks on the hourly charts
Rajandran R FollowTelecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)
Gold is a one trading instrument where fundamentals are outlawed while inflation is skyrocketing and globally Central banks are racing for the interest rate...
