Thread: Gold
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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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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 1242.89 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 1192.61 .
In other scenario if the price can break the resistance 1242.89 and get a bullish signals by a blue dots then its expected to keep going north till the resistance of 1263.07 as the next weekly Pivot point.
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A week bearish trend take a place on the hourly chart of the XAUUSD as the Blade oscillator is now at 0.672 area below the level of balance and at the same time the indicator is blue colored which is a week indication of bearish direction on the short term. On the chart itself you can see the moving average 5 sloping down and then you can consider the last top drawn by it at 1238.45 as a good stop loss if you need it in case of sell orders which is very advised according to the indicators signals.![]()
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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 above the 50 level which indicates a good upward direction signal.
One important thing else is the power momentum indicator which as you can see show a high power of the bullish trend which can be used to filter the entry of buy positions.
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By analyzing the XAUUSD we can but a bullish 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 20 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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the XAUUSD pair for today seems to be on bullish trend according to the green color of the Super trend which is my main indicator to determine the market direction.
Also the Nonlog dot is red colored which indicate a sell signal by the way.
Now the signals show a week bullish trend and a buy 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 red or if the price hits the support at the area of 1238.4 which may mean that the bullish direction is over.
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pair- gold
analysis time frame- h1
the rsi indicator is moving out from the overbought level 70 and moving down side but the price is hold at the 1235.00 level. this may be falling to the lower support at 1223.90 level and will again up side but if break this supporting trend line then short with profit target at 1200.00
good luck
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Unregistered (1)
There is a good selling signals appear today on the hourly chart of the XAUUSD as the price have a Red arrow as the last signal to show by the EMA crossover indicator which uses a 2 exponential moving averages with different shifts and you can see the red line crossing below the blue one to perform the sell signal.
The same also happens on the QQE indicator which you can see below the chart where you can find the lines Below the fifty levels and showing a Sell cross.
I'm going to sell targeting the area of 1222.95 as a support or till I can get a new buy cross by the 2 exponential moving averages.
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analysis for today 10 / 16 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 10 / 15 / 2014
OPEN 1232.38
HIGH 1249.42
LOW 1221.70
CLOSED 1241.72
The third resistance (R3) 1249.42 - ( 1237.61 - 1221.70 = 15.91 x 2 = 31.83 )= 1281.25
The second Resistance (R2) 1237.61 + 1249.42 - 1221.70 = 1265.33
First resistance (R1) 1237.61 x 2 = 2475.23 - 1221.70 = 1253.53
pivot points 1249.42 + 1221.70 + 1241.72 = 3712.84 / 3 = 1237.61
Support for the first (S1) 1237.61 x 2 = 2475.23 - 1249.42 = 1225.81
Support second (S2) 1237.61 - ( 1249.42 - 1221.70 = 27.72 ) = 1209.89
Third Support (S3) 1221.70 - ( 1249.42 - 1237.61 = 11.81 x 2 = 23.61 )= 1198.09
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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