SubscribeGold analysis for 04.08.2013 by using pivot indicator.
r3: 1623.21
r2: 1602.06
r1: 1591.35
pivot: 1570.20
s1: 1559.49
s2: 1538.34
s3: 1527.63
Thread: Gold
Gold analysis for 04.08.2013 by using pivot indicator.
r3: 1623.21
r2: 1602.06
r1: 1591.35
pivot: 1570.20
s1: 1559.49
s2: 1538.34
s3: 1527.63
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As you see in my following chart, Gold price rallied higher sharply surpassing 1577.00 and settling above it, which forms a positive factor that provides a possibility for achieving more upside moves.
But now we need to stay aside temporarily in order to monitor the price behavior according to the EMA50 currently at 1578.50-, where the stability above it will confirm more of the upside track towards 1603.00, while Stochastic is providing negative signals that might force the price to decline again.
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market movements in the gold pair using M30 timeframe, likely occur sideway between Fibonacci 61.8% and 50%. if it breaks support at 1575.48 points then it most likely will lead to a point Fibonacci 50% and a maximum of 38.2%. look of the likely strength of the bullish candlestick form is still so strong.
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GOLD has been traded to the Range 5.70 points, namely 33% of the Average Range 17:11 point and traded down -0.30% to +0.01% high and Low -0.36% from the close of trading yesterday.
Intraday Resistance 1590 - 1600
Intraday Support 1575
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for today my analysis for gold is sell on high @ 1580.10 / 1585.10
stop loss @ 1600.95
half take profit @ 1570.10 and half @ 1555.75
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GOLD (Spot) intraday: rebound in sight.
Pivot: 1560.00
Our preference: LONG positions above 1560 with 1584 & 1589 as next targets.
Alternative scenario: The downside breakout of 1560 will open the way to 1555 & 1549.
Comment: the 50 moving average is heading up. The RSI is above its neutrality area at 50%. A test of 1589 seems likely.
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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.
now buyers dominate the gold market. ranging from weekly buyer, and the buyer daily. greatest probability is buy. but the seller still dominate the market monthly. safe buy if the price moved through buyer-seller monthly balance. use your favorite strategies and just take buy signals. areas that might target price 1588.66 and 1573.00
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hi
how are you
we can see in the 1d chart
the pair will go up to fibo 38.2
I see the pair will go to up way to 1622.34
stochastic refers that the pair will go up
so our target buy from 1578.71 and our target will 4397pips
Good luck
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elliott flat correction up 1594.68 current rise seems to be over near 1580.22 or 1.590 for a retracement towards 1569 - 1564
suport and resistances
res2 1601
res1 1590
pivot 1569
sup1 1558
sup2 1538
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