Hi everyone, Some of the traders are still confuse with Gold. So basically Gold is now standing somewhere between two very important points. If you look at the chart , you will find Blue marked area at the Top, Which is basically Supply Zone For Gold. According to this Gold will possibly not been able to break that zone ,along with Supply zone at the same point you will see Red line which is basically the trend line of channel of higher time frame. So now we have to wait for the gold to enter at least 1320-1330 Zone, and from that zone we will enter our short positions Because Ultimately If you Look at gold You will find that the gold is now moving between upward channel which has to break down after some time thanks .
P.s : If You don't know about supply And demand, simply inbox me thanks .
Yes I don’t know about supply and demand how to read it on a chart. How do you explain the drop of gold today from 1305 to 1290?
Thanks
Daniel-Malik
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@IJB2013, Inbox me and I will give you the webinar link of supply and demand. Secondly if you thoroughly read the market, you will see that market moves in zigzag pattern. this Drop might be a trap or may be retracement but the best option now is to wait and sell from the top .
Thanks