Kuldeep.rk asks:
"I am of the opinion that GOLD is breaking out the resistence line ( upper trangle line ) on daily / weekly charts. Have initiated initial long positions today. Can you check n confirm whether my observation is correct?"
Kuldeep is correct in identifying a breakout on the weekly Gold chart. There are two patterns - an ascending triangle and a rectangle consolidation. Here is the weekly chart, showing the rectangle, which I am tracking, and, my own trading plan.
"I am of the opinion that GOLD is breaking out the resistence line ( upper trangle line ) on daily / weekly charts. Have initiated initial long positions today. Can you check n confirm whether my observation is correct?"
Kuldeep is correct in identifying a breakout on the weekly Gold chart. There are two patterns - an ascending triangle and a rectangle consolidation. Here is the weekly chart, showing the rectangle, which I am tracking, and, my own trading plan.
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2 comments:
it is only due to weak ruppee nothing else. But,Gold is weak in Dollar trading. Please chk USDINR chart.
PLS CHECK RSI ON WEEKLY CHART. WHAT IT INDICATING ?
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