GOLD
Trading Signal - 6/8/2013 - 08:00 GMT+3 60min CHART
Downwards Weak
Waiting for a retracement higher towards the 1305.00 resistance level in order to reinstate SHORT positions.
Thread: Gold
GOLD
Trading Signal - 6/8/2013 - 08:00 GMT+3 60min CHART
Downwards Weak
Waiting for a retracement higher towards the 1305.00 resistance level in order to reinstate SHORT positions.
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As you see in my following attached chart, the price of the gold traded between a high of 1321 and a low of 1297, closed at 1303. Today the metal trades below the resistance line of 1320.
Downside Scenario: As long as the Gold remains below the resistance line of 1320, a decline is likely to be seen into the levels of 1280, then 1267.
Upside Scenario: If the metal penetrates above the resistance line of 1320, this could send the metal to the levels of 1334, then 1348.
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Gold technical analysis
date : 08.06.2013
time : 11:30 GMT
time frame : 15 min
indicator :
1) RSI (14)
value: 40.83
2) MACD (26,12,9)
value: -0.649
3) ADX (14)
value: 19.88
4)CCI(14)
value: -122.77
overall trend - slightly bearish.
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today i like to buy Gold @ 1299.10
my stop loss of the day @ 1303.10
half take profit for today @ 1296.10
and further half take profit @ 1291.10
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Higher-high higher-low formation looks intact in xauusd & on swing support long legged PIN is formed.I'm buying on PIN's 50% with a r:r of 1:2.5 for a target of it's key resistance 1339.
Last edited by fxabdulrehman; 2013-08-06 at 03:51 PM.
I think This time good idea to gold but with using tp 1350. gold will upword in next 2 week so selling is a rizki.. so best of luck.
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Gold analysis for 08.06.2013 by using pivot indicator.
r3: 1338.54
r2: 1329.23
r1: 1315.57
pivot: 1306.26
s1: 1292.60
s2: 1283.29
s3: 1269.63
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elliott crucial revresal point it may attempt a test higher to 1336.60 1379,35 after which weakneas may set it a drift down to below 1239.53 limit
support and resistances
res2 1433
res1 1379
piovt 1293
sup1 1239
sup2 1154
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Gold once again tested the alligator slide-again unfolded in the south, which was held from southern lights out, broken short-term support for 1306 + Stochastic has formed a sell signal until the bears importantly strengthened below 1300 figures, thus open the way back to 1282, 1273.
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time frame- H1
the price of the gold is again move to down side. it is having a strong resistance at the 1318.50 level. now the price will try to move at the support side 1290 with breaking pivot point at the 1304.28. we can short this pair with the stop loss at 1319.60
good luck
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