gold is a great great great commodity if and only if that you can understand it's chart well it can make you a millionaire in no time it moves in one direction for many pips love the gold
Thread: Gold
gold is a great great great commodity if and only if that you can understand it's chart well it can make you a millionaire in no time it moves in one direction for many pips love the gold
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today i like to sell gold @ 1315.10
my stop loss of the day @ 1321.10
half take profit for today @ 1311.10
and further half take profit @ 1306.10
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elliott support in a triangle up 1302.49 current rise seems to be over near 1314.05 or 1324.37 for a retracment towards 1303.73 - 1298.73 - 1298.32 area
support and resistances
res2 1335.19
res1 1324.37
piovt 1303.73
sup1 1292.91
sup2 1272.27
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.
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.
GOLD Signal Today August 9, 2013
Spot gold ended the session on Thursday with gains of 1.88%, bouncing back sharply to close at a one week high. The precious metal continues to be trading in a flag pattern with the range placed between 1280.00- 1320.00. Although the trend remains bullish, in the near term, the precious metal could either rally past 1400.00 or drop back to 1270.00- 1280.00. Expecting high volatility and suggest having stop losses compulsorily and trailing stops on profitable positions
Trend direction
Short term: Bearish
Medium term: Bullish
Long term: Bearish
Trading Recommendations
Short:
At 1294.00 with a stop at 1302.00 for a profit target of 1282.00
Long:
At 1309.00 with a stop at 1304.00 for a profit target of 1325.00
At 1280.00 with a stop at 1276.00 for a profit target of 1310.00
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gold technical analysis by using : average directional movement
index wilder(14) & average directional movement index(14)
on 09.08.13
timeframe : 1 hour
time : 1100
market trand : down
adx wilder(14) level
style : 30.58
+di : 28.82
-di : 19.14
adx(14) level
adx : 21.63
+di : 18.34
-di : 19.16
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elliott correction zigzag 1296.85 it should test 1300.39 area after which a sell off down to 1277.22 or extended to 1266.78 area is expected
support and resistances
res2 1300.05
res1 1293.86
piovt 1283.42
sup1 1277.22
sup2 1266.78
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As you see in my following chart, the gold traded between a high of 1289 and a low of 1273, closed at 1287. Today the metal trades below the resistance line of 1300.
Downside Scenario: As long as the Gold remains below the resistance line of 1300, a decline is likely to be seen into the levels of 1281, then 1270.
Upside Scenario: If the metal penetrates above the resistance line of 1300, this could send the metal to the levels of 1312, then 1325.
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4H Chart.Gold is back in the range above 1300 and is trading above the EMA, with those pierced EMA8 EMA20 and aimed at the top, and EMA200 is horizontal and plays a supporting role.Gold rose to a drop in prices and the U.S. dollar index at the turn of the growth, which is likely soon come forward to re-break of 1300 and the first decline in almost reached the level of 1260 to 1180.Gold is moving within the descending channel and it is possible protests upper bound. where the rebound is able to sell with a small stop exposed in 1330.In the breakdown of borders and fixing up and breakdown of the level in 1343 to 23.6 fibo level becomes
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Silver has made a very strong bid for growth, the price just broke the strong resistance zone to consist of moving an alligator and a slanted medium resistance, a pair of confidence and overcome the psychologically important 20.00 figure, above which a building can lead to the beginning of a new trend of the north.
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