Traders, Gold fell from our high probability zone as per analysis. Please see previous analysis to understand the whole flow of analysis. (Links are below) It printed the biggest one day fall of this year and probably nearly whole decade. It created a bearish engulfing candle on weekly time frame and a Harami set up on daily time frame. It is also in the process of forming an M pattern which can push the price down. But there are few points we must consider before we take any long or short positions next week.
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Vik - cool analysis - so far you are right - it went to 2013 region - now coming down a bit so 1966 is the decision point.
When is the next video coming - its cool stuff.
vikinsa
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@manjit.biant, Thanks :) Gold has given us great profits. Next video is over the weekend.
manjit.biant
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@vikinsa, wow broken through at 1940 - 1900 next lets see
i like your stuff i have subscribed on youtube
Can you please analyze the open interests in the precious metals market? And may be correlate this with all other macro elements like T yields and inflation? An isolated analysis looks very incomplete.
vikinsa
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@raghavsomani1995, I do not look at any of that stuff. Never have. The purpose is to make money with our predictive analysis and managing the risk. If it works in its simple form, why add complexity to it? To me it is complete as it works. Trading is simple but not easy because human nature wants to have and add more to simple things. Just my thoughts :)
When is the next video coming - its cool stuff.