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Happy to get the clue straight from the yellow metal & to see it unfolding as expected on 7th March 2020 video idea which was published on Indian Version - Nifty / Gold / USDINR - The important Juncture.
Video Idea (Click the Idea Below)
------------------------------ Long Term Outlook ------------------------------- A possible case of Ending Diagonal which suggest that the rally which started from 1045$ to 1705$ has completed & we look for downside Targets - 1045$ / 900$ / 750$
Short Term Outlook Wait for some bounce above 1500$ in the zone 1590 - 1625$ zone - If you see the commodity getting rejected in the suggested zone then putting stops above 1635$ could be an opportunity for selling the commodity for Targets - 1500$ / 1445$
Thanks for watching the video & stay classy till next idea.
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15:36 Hrs / 16th March 2020
Last price - 1525 $
Strictly Intraday long positions can be made if 1500-1510 $ zone holds then as expected short term bounce will unfold towards 1590-1620$ zone.
Careful of all the levels mentioned & plan your trade with proper risk management.
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17:06 Hrs / 16th March 2020
Last price @1479$
If you sold below 1500$ - Current low of 1465 could be profit booking level so wait to sell next on bounce upside in 1540-1550 & above 1550 for 1590-1620 zone or sell below 1445 $ next
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18:55 Hrs / 16th March 2020
Last Price @ 1461 $
1st impulsive downside sequence from 1705$ could be done close to 1550 $ so probably we plan to sell next on bounce if happens -hence next selling can be planned from 1540-1550 or 1590 - 1620 $ zone or we sell below 1445 which is important level next.
Comment
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20:08 Hrs / 16th March 2020
Last price @ 1478 $
Typing Error - "1550 $" instead of 1450$ above. So, 1st impulsive done from 1705 $ to 1450 $ & we expect bounce upside to 1540-1550 & above 1550 to 1590-1620 $ zone
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22:30 Hrs / 16th March 2020
Last price @ 1510 $
As expected bounce started from 1450 $ to 1520 $ movement done so far. Book Partial profits & continue long positions above 1520 $ for 1540-1550 & above 1550 for 1590-1620 $ zone.
Thanks & Good Night from India.
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07:33 Hrs / 17th March 2020
Last Price @ 1504 $
Image of 1st Impulsive down finished at 1450 $
Bounce started from 1450 $ to 1520 $ - where we booked partial profits & plan next buy above 1520$ for 1540-1550 & more above 1550 towards 1590-1620 $ Careful if it stays or holds below 1550 $
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21:21 Hrs / 17th March 2020
Last Price @ 1530 $
Target 1 done in the zone 1540-1550 ----------------Recent High @1555
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08:55 Hrs / 19th March 2020
Last Price @ 1473 $
Next Trading Strategy
--------------------------------------Do not Hurry in buying------------"if holds in 1465-1470 $---------------then plan for short term buying for 1520 / 1570-1590 $ target upside.
Buying Strategy is violated or considered null & void if it trades below 1465 $
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23:20 Hrs / 23rd March 2020
Last price @ 1565 $
100 $ It pushed upside from 1465-1470 - it dipped slightly below but bounced back above 1470 $ & completed upside leg at 1569 $- Wow!!!
Good Night from India
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23:42 Hrs / 23rd March 2020
Last Price - 1565 $
Be careful if yellow metal holds below 1570 $ - as it may drop to 1450 $ & even lower -----------strictly valid below 1570$
Downside Target - 1450 $ & more on downside.
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19:26 Hrs / 30th March 2020
Last Price @ 1645 $
Wave -ii can never retrace 100 % of wave - i (Using this rule & connecting to equity reversal which was expected on 25th March 2020 - was eagerly waiting to pick the wonder waves. India Nifty moved 800 + points on 25th-26th March 2020 -That is wonder wave
@asoksaha321, Hi. Please put ITC comment on running idea of ITC - not on Gold. I have updated ITC idea just now.
div4u
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Nice work
lonetechnicalanalyst
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Nice analysis :)
vimalsharma007
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Shall i sell physical gold & buy at lower levels?
Plz guide.
WaveTalks
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@vimalsharma007, Sorry. I cannot suggest any further. You need to consult your financial advisor before you take any decisions.
SRs_FF
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Thanks for new idea... thinking that all asset class will be move southwards due to Corona Virus Outbreak...
WaveTalks
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@SRs_FF, Nifty Index when I suggested at the tops of 12400 to be careful was the start of market moving down as market always looks in future. Making a low at 8555 looks like bottom is in place & Index moves upside so portfolio opportunity for traders.
Dinesh_C_Nagpal
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There is a Price and Time axis Equilibrium as per Ichimoku study too.