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
Gold and Hangseng under Ichimoku Resistance
20 sec read
Weekly Chart of Dollar Denominated Gold Future Charts and Hangseng Index Weekly Charts are shown. As of now both trades weaker and under the Ichimoku cloud resistance with gold long term resistance near 1100 levels and Hangseng Resistance near 22,00(approx). Have a deep look into the chart
Gold Futures Weekly Ichimoku Chart
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Hangseng Weekly Ichimoku Chart
Still both have a strong potential to turn towards a long term Down trend. Until it trades below the Ichimoku cloud resistance the probability of downside potential is very high
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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
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One Reply to “Gold and Hangseng under Ichimoku Resistance”
Dear Sir,
i read at no of places in technical reports that daily trend of a stock has turned up or down. weekly trend is in down trend since last x weeks. how it is decided that trend has changed from down to up or from up to down?
it is decided by looking at higher low and higher high pattern or by crossing a particular mov avg or by pivot calculator?
Dear Sir,
i read at no of places in technical reports that daily trend of a stock has turned up or down. weekly trend is in down trend since last x weeks. how it is decided that trend has changed from down to up or from up to down?
it is decided by looking at higher low and higher high pattern or by crossing a particular mov avg or by pivot calculator?
will u please explain?
Bhavesh Shah