elliott common flat correction up 1616.86 it should trade higher to 1612 or above 1618 in extention supports at 1598 and 1595 stop loss below 1584
supports and resistance
res2 1618
res1 1612
pivot 1601
sup1 1595
sup2 1584
Thread: Gold
elliott common flat correction up 1616.86 it should trade higher to 1612 or above 1618 in extention supports at 1598 and 1595 stop loss below 1584
supports and resistance
res2 1618
res1 1612
pivot 1601
sup1 1595
sup2 1584
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Decided to open a long position in gold, on the hourly chart perfectly visible sloping support level from which it took place a few times northern retreat, the price again came close to it, on the daily chart greatly improves the dynamics of formation of lower fractals (which indicates that the activity of bulls), the first stop - 1616.
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GOLD (Spot) intraday: bounce.
Pivot: 1590.00
Our preference: LONG positions above 1590 with 1608 & 1617 as next targets.
Alternative scenario: The downside penetration of 1590 will call for a slide towards 1576 & 1561.
Comment: a support base at 1590 (20-day moving average) has formed and has allowed for a temporary stabilisation. The 50 period moving average is turning up. Further recovery seems likely towards 1617.
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Gold analysis for 03.28.2013 by using pivot indicator.
r3: 1628.43
r2: 1618.17
r1: 1611.51
pivot: 1601.25
s1: 1594.59
s2: 1584.33
s3: 1577.67
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As you see in the following attached chart, the Gold price succeeded to achieve the waited rising yesterday and bounced from the bullish channel support, to settle again above the EMA50 reinforcing our expectations for the upside track continuation which is targeting 1625.00
The price might witness some fluctuation affected by Stochastic before resuming its rising which remains valid conditioned by the stability above 1592.00
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bhai mere i closed my buy order and just watching the movement, waiting for some good entry if its able to hit the 1540 level then we see some quick raise.
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Gold technical analysis by using moving averages.
date : 03.28.2013
time : 0800 GMT
time frame : 15 min
sma200 : 1600.52 signal- buy.
sma100 : 1602.22 signal- buy.
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in the H1 time frame last day price is moving down side but it is not able to break the resistance at 1589.00 and again move up side. this is having a resistance range at 1607.00 and then 1615.00 we will wait for long entry with breaking higer resistance at 1615.00
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we can see in the 4h chart
the pair trading down the 38.2
I see the pair will go to down way to 1594.70
stochastic refers that the pair will go down
so our target sell from 1604.90 and our target will 1092pips
Good luck
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elliott flat correction down 1592 current fall is near an end of wace around 1594 zone a rally should then proced to above 1605 fall below 1588 would cavel this scenario
support and resistancese
res2 1611
res1 1605
pivot 1600
sup1 1594
sup2 1588
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