Yesterday gold has highest volume in history which is nearly double the previous high. But even this high volume was not able to help gold to break the LTH 2076. If there is enough volume we may break this today.
The important levels volume suggests is 2040 and 2064. There is lot of selling pressure above 2056. So we may expect reversal from levels above 2064.
The value zone has boundary between 2020 and 2084. So we can expect reversal from boundaries.
The important support levels for today are 1995 and 1945. We can expect reversal from these levels if price falls below 2020.
For today my trades are
BUY 2020-2025 SL 2010 TP 2050
SELL 2055-2060 SL 2065 TP 2040
SELL 2070 SL 2085 TP 2050
Considering the highest volume yesterday we may have a red candle in daily chart by end of day.
So prefer short orders near LTH today.
The important levels volume suggests is 2040 and 2064. There is lot of selling pressure above 2056. So we may expect reversal from levels above 2064.
The value zone has boundary between 2020 and 2084. So we can expect reversal from boundaries.
The important support levels for today are 1995 and 1945. We can expect reversal from these levels if price falls below 2020.
For today my trades are
BUY 2020-2025 SL 2010 TP 2050
SELL 2055-2060 SL 2065 TP 2040
SELL 2070 SL 2085 TP 2050
Considering the highest volume yesterday we may have a red candle in daily chart by end of day.
So prefer short orders near LTH today.