Currently the wave structure suggesting a FLAT corrective move is going to take place in Gold. Even after so much carnage in global equites , there is no such significant buying has been seen in the GOLD. Inter-market relationship along with the wave pattern a short position can be taken in the zone of 1690-1700 with a Stop loss above 1720 for a target range of 1640/1560/1450 .
Trade closed manually:
GOLD ABOVE 1705 , CAN TOUCH 1740 , IF SUSTAINED 1740 THEN NEXT 1810 !!! IF REJECTED FROM THE CURRENT LEVEL & BREAKS THE DOTTED TRENDLINE , THE SHORTING IDEA WOULD PLAY !
Trade active:
REJECTED & BROKEN THE DOTTED LINE AFTER REMOVING THE UPPER PLAYERS .
Manish Bhardwaj (CMT L-1)
Analyst & Co-Founder
www.tradingsutra.com
www.waveutra.com
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@TRADINGSUTRA @WAVESUTRA
Analyst & Co-Founder
www.tradingsutra.com
www.waveutra.com
INSTAGRAM-
www.instagram.com/mansh_25
TWITTER-
twitter.com/mansh_25
YOUTUBE -
@TRADINGSUTRA @WAVESUTRA