Thread: Gold
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analysis for today 6 / 19 / 2014
GOLD (Daily Trade)
I think the movement is still in a bullish trend
retracement (38.2%) 1273.65
Retracement (50%) 1272.22
retracement (61,8%) 1270.78
Extensions (61.8%) 1285.80
Extensions (100.0%) 1290.44
Extensions (138.2%) 1295.08
Extensions (161.8%) 1297.95
calculation based on a Fibonacci retracement then today I choose buy
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Trading Signal - 19/06/2014 -
Instrument: GOLD
60min CHART
Upwards Strong
A Medium probability, entry signal to go LONG was given at 1275 after the market completed a bullish trend
reversal pattern. Only the downward break of 1265 would cancel the bullish scenario.
Support & Resistances
1270 1280
1265 1285
1257 1290
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analysis for today 6 / 19 / 2014
GOLD
Resistance : R1 1285.06 R2 1294.51 R3 1313.26
Support : S1 1273.33 S2 1263.88 S3 1245.13
Open : 1277.31
High : 1282.63
Low : 1275.76
Range : 687 Pips
Running Price : 1281.42
Strategy : BUY at the level 1281.42 stop loss at the level 1273.33 target take profit at the level 1313.26 or at the level 1350.76
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pair- gold
chart analysis time frame- m30
the price is break the resistance of the triangle chart pattern at te 1272.85 level and moving to the higher resistance at 1281.75 level. the macd indicator is making higher to lower side. the price is also making doji pattern. short with take profit at 1270.00 and stop loss at 1285.00
good luck
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analysis for today 6 / 19 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 6 / 18 / 2014
OPEN 1270.26
HIGH 1278.29
LOW 1266.14
CLOSED 1277.39
The third resistance (R3) 1278.29 - ( 1273.94 - 1266.14 = 7.80 x 2 = 15.60 )= 1293.89
The second Resistance (R2) 1273.94 + 1278.29 - 1266.14 = 1286.09
First resistance (R1) 1273.94 x 2 = 2547.88 - 1266.14 = 1281.74
pivot points 1278.29 + 1266.14 + 1277.39 = 3821.82 / 3 = 1273.94
Support for the first (S1) 1273.94 x 2 = 2547.88 - 1278.29 = 1269.59
Support second (S2) 1273.94 - ( 1278.29 - 1266.14 = 12.15 ) = 1261.79
Third Support (S3) 1266.14 - ( 1278.29 - 1273.94 = 4.35 x 2 = 8.70 )= 1257.44
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analysis for today 6 / 18 / 2014
GOLD (Daily Trade)
I think the movement is still in a bearish trend
retracement (38.2%) 1264.74
Retracement (50%) 1266.33
retracement (61,8%) 1267.92
Extensions (61.8%) 1251.26
Extensions (100.0%) 1246.11
Extensions (138.2%) 1240.96
Extensions (161.8%) 1237.78
calculation based on a Fibonacci retracement then today I choose sell
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analysis for today 6 / 18 / 2014
GOLD
Resistance : R1 1275.39 R2 1284.84 R3 1303.59
Support : S1 1262.55 S2 1253.10 S3 1234.35
Open : 1271.30
High : 1271.85
Low : 1266.09
Range : 576 Pips
Running Price : 1270.44
Strategy : SELL at the level 1270.44 stop loss at the level 1275.39 target take profit at the level 1234.35 or at the level 1196.85
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pair- gold
chart analysis time frame- m30
the down movement of the price is hold at the support 1259.50 and moving up but now its at the fibo resistance level 50 at the price 1271.00. if this price is break the support 1265.80 then it will be falling down and again down side. short with stop loss at 1278.00
good luck
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Gold bearish trend is still strong enough to go down to a few pips down, but there are other contributing factors that could cause Gold to bounce back on the European and U.S. sessions later, this seemingly Stoch indicator that has been oversold, chances Gold will rise to the level of 1281.73 or may be higher than that.
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analysis for today 6 / 18 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 6 / 17 / 2014
OPEN 1271.73
HIGH 1273.07
LOW 1259.59
CLOSED 1270.26
The third resistance (R3) 1273.07 - ( 1267.64 - 1259.59 = 8.05 x 2 = 16.10 )= 1289.17
The second Resistance (R2) 1267.64 + 1273.07 - 1259.59 = 1281.12
First resistance (R1) 1267.64 x 2 = 2535.28 - 1259.59 = 1275.69
pivot points 1273.07 + 1259.59 + 1270.26 = 3802.92 / 3 = 1267.64
Support for the first (S1) 1267.64 x 2 = 2535.28 - 1273.07 = 1262.21
Support second (S2) 1267.64 - ( 1273.07 - 1259.59 = 13.48 ) = 1254.16
Third Support (S3) 1259.59 - ( 1273.07 - 1267.64 = 5.43 x 2 = 10.86 )= 1248.73
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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