gold forecast:
from the hourly chart we can see gold is still trapped between 1309 and 1336
now it will test again the support area around 1309
current price: 1319.26
sell entry with stop loss 1325
take profit at : 1310
good luck...
Thread: Gold
gold forecast:
from the hourly chart we can see gold is still trapped between 1309 and 1336
now it will test again the support area around 1309
current price: 1319.26
sell entry with stop loss 1325
take profit at : 1310
good luck...
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The Gold is stalled at resistance 133762. It fell significantly yesterday but found buying interest. It reverse back up before it touches support 129830. This situation confirms the gold bullish bias is still in play. Although it's not the kind of rejection that we want to trade for. We prefer to wait price until it really fell and rejected by support with clear definition.
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I am looking for a break below 1307 and then short the pair for the initial target of pair 1267 and break there will open the way for 1237 and So remain cautious as it is an excellent opportunity for the gold traders however any break above 1348 and 1378 will remove the bearish pressure from the pair
check the chart
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elliott flat correction down 1316.98 market should hold majoir support at 1316.85 before towards 1332.43 or even 1338.48 limit
support and resistances
res2 1338.48
res1 1332.43
piovt 1325.14
sup1 1319.09
sup2 1.311.79
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.
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 sold off due to the better and expected reading of US GDP and hit a low of 1306 and currently trading at 1309 level. So i will wait for the FOMC interest rate statement to see a clearer direction.
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today i like to sell Gold @ 1334.10
my stop loss of the day @ 1341.10
half take profit for today @ 1327.10
and further half take profit @ 1321.10
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Gold Comex Update :- Gold Spot Trading at 1334.29 USD Trading Strategy : 1. Buy Gold at or above 1341 USD with targets of 1349-1359-368-1377.58 USD levels, SL 1332 USD and below.
2. Short Sell Gold at or below 1332 USD with targets of 1323-1314-1305-1296.65 USD levels, SL 1341 USD and above.
Alert :- Gold having key resistance at 1338 USD above this it looks bullish .Also gold having key support at 1302/1300 USD levels. Today is the important day for Bullion. Bullion looks bullish with some volatility ahead of Today's FED US GDP DATA.
On Weekly Chart Basis , if gold crosses and stays or close the level of 1360 USD then it will lead to A HUGE Upward (Target :- 1395-1405-1425-1445.38 USD in coming Months).
Today after FOMC meeting, Big Move up move shall be seen . SO BE ALERT ..
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