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.

Gold and Hangseng under Ichimoku Resistance

19 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

 
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

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 “Gold and Hangseng under Ichimoku Resistance”

  1. 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

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