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The volatile price movement = yes still shown on this gold pair (XAUUSD). I see - till now - this is not nice idea to make OP here because of this volatile movement price. Just wait and see. Then, on the big trend, this pair still to become more bearish, but for now I see the sideways with quite high volatile still look here = near the price 1560.xx. Just ignore this setup candle = I see, it's better idea, of course for now.
[IMG]http://i.imgur.com/zSbgB.gif[/IMG]
Surely Gold trading is very dangerous. But take a look at the support and Resistance level for today. Gold has rejected by the resistance level at 1567.40 and its created the 1st support level at 1547.20 and 2nd support at 1535.10. I expect some correction from that S&R level for minimum 500 pips.
Gold has been trying to confirm the range of 1560 but still not as strong support for providing a strong bullish momentum where the gold is still stuck in 1570 and confirming it as the range of Resistance so morning session today on the pair traded fell below the range is the range of 1550 1560. Momentum gold in the morning session today is Bearish. Beware when the pair confirmed the range of 1550 as a potential gold Resistance then traded back down and re-testing the 1525 support. Conversely, if gold managed to confirm the range of 1550/60 as the support it would be potentially traded gold rose and tried to trade back up to the 1580 range again.
Range Gold has been trading with 9.75 points at 39% of the Average Range 25.27 and has traded down -0.44% to +0.04% High and Low -0.59% from the close of trading yesterday.
Intraday Resistance 1560 - 1580 - 1600
Support intraday 1525 - 1500
yes, your prediction is spot on. the price of gold did go below the $1,540 level but i came right back up quickly just as i expected too.Quote:
Originally Posted by yogesh
if gold price is going to follow the oil downward move then we will see a big move happening next week.
but if not then we might see a ranging trend based on the behavior of the price on last week and this week.
afterward we might also see a breakout but the detail might only be found next week.
Let's have a look at the D1 chart of the pair. The price broke out the downtrend line. Moreover, the MACD is above the zero line. Based on these signals, I think the price will increase strongly soon.
http://s8.postimage.org/838xbjps5/XAU.jpg
yar gold boht he zadia risky pair ha ro es main loss boht zada hota ha agr es main loss boht zada hota ha to es main profit be bht zada hota ha es laya mai es pair ko used he nahi karta hooon q k mara account main balance boht he kam ha.
My Weekly Analysis:
The gold this week succeeded to close upside the previous week high point so in my opinion that the next week it will continue in up steps
Attachment 1253
When we look in the daily chart i see some correction towards down may it reach 159x level and then it will raise
Attachment 1254
According to technical analysis, recovery of the gold price will reach the target in the area of $ 1.640 / oz and above this level signaling potential of the gold movement toward the target 1.700 USD / ounce. Silver is still weak month ahead. Metals will move approximately $ 26 - $ 30/ons. The price of gold at $ 1,616.70 / ounce, down $ 9.60, silver at $ 28.40/ons, down 28 cents, platinum at $ 1.441 / ounce, down $ 2, and palladium at $ 609.20/ona, down $ 2.80 from its closing price.
yes, i agree with you.Quote:
Originally Posted by erespe
but it is showing a weakness as of now (the time i post this).
will go down erasing the gains made on the last hours last week? or will it only retrace to later on move up?
the candle is showing a triangle pattern but we are still unsure to which side the price will breakout to...
http://img687.imageshack.us/img687/7652/goldsg.png
As we see on the included H4 chart , there were a bullish candles last week which made the Gold more closer of the downtrend line shown , so with some more slight rise we can sell Gold on the long term and achieve high profit , selling now will require high stop loss to hold position , i suggest to sell with target @ 1570.00 , Good Luck