DeMark Projected Range XAUUSD Technical Analysis and DeMark Projected Range XAUUSD Signals
Developed by Tom Demark.
This indicator is used to signal the potential high and low xauusd prices that a chart gold price is likely to reach.
This is referred to as the range projection and it is calculated using the open and the close xauusd prices of the most recent gold price period.
DeMark Projected Range
XAUUSD Technical Analysis and Generating XAUUSD Signals
This indicator will show two points, the projected high and the projected low of a specific gold price period. This will be used as the reference point.
Bullish Up xauusd trend Signal
If the next gold price bar opens above the projected high then the xauusd market will continue in an upwards XAUUSD trend.
Bearish down xauusd trend Signal
If the next gold price bar opens below the projected low then the xauusd market will continue in a downwards XAUUSD trend.
Ranging XAUUSD Market
If the next gold price bar opens within the projected range, then this is a signal that the xauusd market will remain in a range base.