Subscribethere has been not much considerable movement in gold and it seems that has to wait to see further movement of USD.
Thread: Gold
there has been not much considerable movement in gold and it seems that has to wait to see further movement of USD.
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14 November 2014, Gold has been moving in a cone consolidation as seen here, after having made lows at $1,145.00 levels on November 11, 2014. The metal is awaiting a trigger to break out higher (above $1,170.00) or lower ($1,155.00) side. Resistance is seen at $1,207.00 (fibonacci 0.618), followed by $1,235.00/55 and higher while support is seen at $1,145.00 (interim), followed by $1,130.00 (interim) and lower. The metal is expected to continue drifting lower either from current levels or from $1,207.00/08. It is recommended to remain long for now, with risk being at $1,140.00. A dip below $1,140.00 and subsequently $1,130.00 confirms that Gold is headed lower.
Trading recommendations: An aggressive trading strategy could be to remain long for now, stop at $1,140.00 target $1,208.00. A more conservative way is to remain flat for now, sell around $1,207 on bearish confirmation.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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analysis for today 11 / 14 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 11 / 13 / 2014
OPEN 1162.26
HIGH 1167.71
LOW 1153.92
CLOSED 1162.12
The third resistance (R3) 1167.71 - ( 1161.25 - 1153.92 = 7.33 x 2 = 14.66 )= 1182.37
The second Resistance (R2) 1161.25 + 1167.71 - 1153.92 = 1175.04
First resistance (R1) 1161.25 x 2 = 2322.50 - 1153.92 = 1168.58
pivot points 1167.71 + 1153.92 + 1162.12 = 3483.75 / 3 = 1161.25
Support for the first (S1) 1161.25 x 2 = 2322.50 - 1167.71 = 1154.79
Support second (S2) 1161.25 - ( 1167.71 - 1153.92 = 13.79 ) = 1147.46
Third Support (S3) 1153.92 - ( 1167.71 - 1161.25 = 6.46 x 2 = 12.92 )= 1141.00
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the price seems to move in upward trend today on the XAUUSD chart as there are a blue dots below the bars and as long as the price keeps higher than the strong support of 1146.48 which is also the weekly Pivot point then it seems that the price may keep going north till it can hit the weekly pivot resistance at 1193.47 .
In other scenario if the price can break the support 1146.48 and get a bearish signals by a red dots then its expected to keep going south till the support of 1115.43 as the next weekly Pivot point.
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The price of gold shows some upward tendency now influenced by the positive reference provided by the stochastic which, while still confined to the confirmation of price trend which is supported 1146.00 and 1178.85 resistance levels, waiting for a break of these levels to determine the next course price more accurately
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pair- gold
analysis time frame- m30
the price movement in the down trend channel pattern having resistance at 1165.00 and the support at 1153.00 level the macd indicator is at the zero level but price up movement having resistance at pivot point. if 1165.00 level is break then long with take profit at 1175.00
good luck.
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13 November 2014 Gold has remained locked in a tight range for the last 24 hours. The metal had bounced off $1,145.00/50.00 levels earlier, indicating that a further push higher remains a possibility. It still needs to clear through $1,180.00 levels, to confirm a $1,207.00 possibility on the higher side. It is recommended to remain long for now, with risk at $1,140.00. Resistance is $1,180.00 (interim), followed by $1,207.00 (fibonacci 0.618), $1,235.00 and higher, while support is seen at $1,145: (interim), followed by $1,130.00 and lower respectively. A break higher from $1,180.00 is required to confirm that bulls are going to stay in control for a while.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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analysis for today 11 / 13 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 11 / 12 / 2014
OPEN 1162.26
HIGH 1169.86
LOW 1157.12
CLOSED 1162.44
The third resistance (R3) 1169.86 - ( 1163.14 - 1157.12 = 6.02 x 2 = 12.04 )= 1181.90
The second Resistance (R2) 1163.14 + 1169.86 - 1157.12 = 1175.88
First resistance (R1) 1163.14 x 2 = 2326.28 - 1157.12 = 1169.16
pivot points 1169.86 + 1157.12 + 1162.44 = 3489.42 / 3 = 1163.14
Support for the first (S1) 1163.14 x 2 = 2326.28 - 1169.86 = 1156.42
Support second (S2) 1163.14 - ( 1169.86 - 1157.12 = 12.74 ) = 1150.40
Third Support (S3) 1157.12 - ( 1169.86 - 1163.14 = 6.72 x 2 = 13.44 )= 1143.68
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
SA148P (2019-07-01)
Spoiler:
Daily Forecast
Pair: GOLD
Major Trend: NEUTRAL
Time Frame: H4
Reason: Price has been a correction in the area fibo 38.2 - 61.8. The price will likely lead resistance 1179.40 area. BB tends to shrink
Recommendation: Buy with a target Fibo 100 (1179.40)
Last edited by ducd3vaizo; 2014-11-13 at 06:58 AM.
the price seems to move in downward trend today on the XAUUSD chart as there are a red dots above the bars and as long as the price keeps lower than the strong resistance of 1193.47 which is also the weekly Pivot point then it seems that the price may keep going south till it can hit the weekly pivot support at 1146.48 .
In other scenario if the price can break the resistance 1193.47 and get a bullish signals by a blue dots then its expected to keep going north till the resistance of 1209.41 as the next weekly Pivot point.
.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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