Thread: Gold
Gold has formed a converging triangle, a few hours ago, an all-clear from the bottom of the triangle (which has a medium-term nature) is also near this level are moving alligator on 4-hour chart, the bulls will be the first to horizontal resistance of 1294 but it is likely to be broken.
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we can see in the 1h chart
the pair can close up the up trend line
i see the pair will go to up way to 1286.19
stochastic refers that the pair will go up
so our target buy from 1284.19 and our target will 200pips
Good luck
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if gold 1287 break then next target 1296-00-1314
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may ne 1540 ke stha ko neshana bnany ke qabel to hamen kuch fore izafa dakh kr kuch ache andraj k liay intzar kr rhen han mara khared ka arder or sirf tahrek ko dekh kr bnd kr dia gia.
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 market analysis by using : average directional movement index wilder(14) & average directional movement index(21)
adx wilder(14) level
style : 20.62
+di : 16.21
-di : 24.80
adx(21) levels
adx : 24.15
+di : 12.76
-di : 21.24
time : 1700
date : 15.07.2013
timeframe : 1 hour
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time frame- H1
the price is moving in the down trend channel pattern. it is rejected from the resistance at 1294.00 level but now able to break the support at 1272.30 level. if the price is move down with breaking support then it will be falling to the 1259.00 level. short with the stop loss at 1297.00
good luck.
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Gold trading below $1285 (Last Week Closing)
Trading on the edge support trend line in a 4hr Chart.
Trading below $1277 will lead market towards $1267 & $1253
While Resistance holding $1294 & $1300
Break & Trade above $1301 will extend for $1313.0 & $1325
Gold rallied towards $1294 today after data showed the Chinese has grown mirroring forecasts, while signs of more dovish U.S. Federal Reserve contributed to the biggest weekly advance for the precious metals in nearly two years.
China`s economy expanded 7.5 percent from a year earlier in the second quarter, growth slower than the previous quarter`s 7.7 percent expansion, as weak trade and a clampdown on lending took their toll.
The slowdown fueled speculation that policymakers at the Peoples Bank of China will act to safeguard their growth goal of 7.5 percent for the year, even as Premier Li Keqiang signals reluctance to boost stimulus and tries to reduce financial risks.
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Gold price already touched daily resistance 1 level (1292.87) and upper trend line. Now the price is now down trend. I think price may touch daily pivot point (1280.29).
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Buy Gold at current market price 1279/80 SL 1274 Tp 1300/15/30
Last edited by fxabdulrehman; 2013-07-15 at 03:26 PM.
today i like to buy Gold @ 1281.10
my stop loss of the day @ 1274.10
half take profit for today @ 1288.10
and further half take profit @ 1296.10
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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