Thread: Gold
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27.10.2014 9:09 XAUUSD
In the short term, the price of gold could test the support of $ 1,222
Sell on a level breakthrough of 1222 with 1183 target. Stop loss = 1240.
Reason for the trading strategy
Before the expected curtailing of the QE3 program in the US, the gold prices feel a little uncomfortable. From a technical point of view, the breakdown of the support of $ 1222 will signal the opening of short positions in precious metals.
GOLD, H4
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By analyzing the XAUUSD we can but a bearish chanel to limit the movement of the market inti two trend lines The price is moving at the lower edge of the donchin channel so you may think about buying as long as there is no opposite signs appear on the Awesome oscillator The Awesome oscillator has a red bar appears below the level of 0 and it is considered a good sell signal Also the stostatic indicator shows sell signal by showing down intersection between the two lines near the 80 th level Till this moment bullish trend is the choise and also buying targeting the upper edge of the donchin channel is not a bad idea at all![]()
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As you can see on the chart of XAUUSD the prices is now upper than the EMA line of 15 which could be used as a good sign of bullish trend for today.
Also the power line indicator is now below the 50 level which indicates a good downward direction signal.
One important thing else is the power momentum indicator which as you can see show a low power of the bullish trend which can be used to filter the entry of buy positions.
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Daily forecast: GOLD 27 Oct. 2014.
Technical analysis for Daily forecast of GOLD 27 October, 2014. In Daily chart GOLD shows bearish trend. At present GOLD break 1st support level and going towards the 2nd support level. If 2nd support level breaks then next strong support level is 1220.16.
Pivot: 1231.12
Resistance levels
R1 1233.56
R2 1236.40
R3 1238.84
R4 1241.28
Support levels
S1 1228.28
S2 1225.84
S3 1223.00
S4 1220.16
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A bearish trend is now in action as you can see the red arrow shown on the hourly XAUUSD chart at the current time which is supported with a top located at 1232.8 which can be also used as a very strong resistance that the price shouldnt go above it if the bearish trend still strong.
Also the parabolic sar dots is showing above the candles which is a sign that the price is heading down for a while.
when selling trades take a place I think then the support 1227.85 can be a good area in order to close some open positions as the price has a good chance to go north after hitting it.
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the XAUUSD pair for today seems to be on bearish trend according to the red color of the Super trend which is my main indicator to determine the market direction.
Also the Nonlog dot is blue colored which indicate a buy signal by the way.
Now the signals show a week bearish trend and a sell trades can take a place as soon as the Nonlog indicator changes to confirm the direction.
For the stop loss area I think there are 2 ways to exit if the super trend changes its color to be green or if the price hits the resistance at the area of 1229.64 which may mean that the bearish direction is over.
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According to the chart of XAUUSD there are a main down trend signal as the 2 EMA 5 and 6 moving below the slow EMA of 35 then I guess I will take a sell positions once the other indicators confirm the bearish direction.
There are a dots above the candles for parabolic sar indicator to indicate a downward direction and also I can monitor a sell signal on the MACD indicator which moving below the level 0 for now beside the CCI line is at the lower level to perform a downward signal.
As I said before according to the EMA locations selling is my favorite side for today as long as the price didnt show any opposite bullish signals.
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pair- gold
time frame analysis- m30
the price is having a resistance trend line at resistance 1233.00 level. its down movement is hold at the support 1225.00 level and moving up side. up movement can expected if the price break 1234.00 level to the 1255.00 level hold the long entry with stop loss at 1220.00
good luck
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.
The price is moving below the wave of EMA indicators to perform a shape of bearish direction through the day at the chart of XAUUSD pair And with a sell signal showing on the RSI indicator which have the line going below the center line of 35 This also can be merged with the data of Macd indicator as you can see the green lines is heading down to inform that the market bears have the control at the market for the current period Then I think going with the bears at the current day and keep at the market until another buy signals shown on the chart by getting the price above the wave of EMA indicators.
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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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