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gold last day technical analysis by using : average directional movement index wilder(14) & average directional movement index(14) on 10.08.13
timeframe : 1 hour
time : 2300
market trand : down
adx wilder(14) level
style : 30.58
+di : 28.82
-di : 19.14
adx(14) level
adx : 21.63
+di : 18.34
-di : 19.16
Peace, mercy and blessings of God returned the precious metal to decline after the re-test of the ascending channel broken on Frame four hours, where the channel is broken and re-emerging
Test her about prices of 1320 and then decline again from the re-test, and reinforced the decline RBA cut
elliott crucial revresal point it should be subject to more sell off towards 1280.98 or 1254 .12 corrective up ward swing should face resistances around 1312.57 area abreak of 1366.45 is bullishy
support and resistances
res2 1366
res1 1337
piovt 1319
sup1 1280
sup2 1254
Gold again rejected off the support 1276 and NOw it has broken 1287 and 1307 And Now I expect it to test the 1321 area and I want it to hold more importantly 1349 is very crucial if it able to rally And Now break of 1286 and 1267 will confirm the correction is complete and we are on our way towards possible 1180 and break there will test the multi year low 1050 area
regards
check the chart
http://i1292.photobucket.com/albums/...psc4740cb2.png
Gold
I want to buy gold at 1315.05
my stop loss of the day at 1321.04
half take profit for today at 1311.03
and further half take profit at 1306.02
gold takreeban 1 sal se selling me araha he or kuch b nahi kaha jaskta he is ka gold me kam karna boaht muskil huwah he lekin yahan se bohat achi bying ban sakti he 1300 level aik bohat acha buying level an sakta he . .
elliott common flat correction up 1320.73 one move lower to 1306.47 or 129962 is anticipated while below 1311.95 - 1315.95 area stop loss above 1318.80 zone
support and resistances
res2 1324
res1 1318
piovt 1311
sup1 1306
sup2 1299
http://charts.mql5.com/2/247/gold-h1...orex-group.png
we can see in the 1h chart
the pair trading down the 23.6
I see the pair will go to down way to 1305.86
macd refers that the pair will go down
so our target sell from 1313.44 and our target will 758pips
Good luck
Increase in gold in my opinion is more likely. At the four half like a figure of "inverse head and shoulders." Although judging by the weekly time-only correcting the recent rise of the bearish trend. Probit 50.0 Fibonacci level up and the price was fixed above. Just broken trendline. If a sale and get up with a stop-over Lo.