Thread: Gold
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analysis for today 9 / 1 / 2014
GOLD (Daily Trade)
I think the movement is still in a bearish trend
retracement (38.2%) 1286.20
Retracement (50%) 1287.10
retracement (61,8%) 1288.00
Extensions (61.8%) 1278.56
Extensions (100.0%) 1275.64
Extensions (138.2%) 1272.72
Extensions (161.8%) 1270.92
calculation based on a Fibonacci retracement then today I choose sell
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pair- gold
chart analysis time frame- m30
the price movement can see in the triangle chart pattern with having the support at 1285.00 and resistance 1290.00 level. the macd indicator is below the zero level so down movement can expected. if this is break support then make short entry with profit target at 1275.00
good luck
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analysis for today 9 / 1 / 2014
GOLD
Resistance : R1 1296.34 R2 1305.79 R3 1324.54
Support : S1 1277.74 S2 1268.29 S3 1249.54
Open : 1287.04
High : 1287.04
Low : 1287.04
Range : 0 Pips
Running Price : 1287.04
Strategy : SELL at the level 1287.04 stop loss at the level 1296.34 target take profit at the level 1249.54 or at the level 1212.04
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analysis for today 9 / 1 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 8 / 29 / 2014
OPEN 1289.25
HIGH 1290.92
LOW 1283.28
CLOSED 1287.04
The third resistance (R3) 1290.92 - ( 1287.08 - 1283.28 = 3.80 x 2 = 7.60 )= 1298.52
The second Resistance (R2) 1287.08 + 1290.92 - 1283.28 = 1294.72
First resistance (R1) 1287.08 x 2 = 2574.16 - 1283.28 = 1290.88
pivot points 1290.92 + 1283.28 + 1287.04 = 3861.24 / 3 = 1287.08
Support for the first (S1) 1287.08 x 2 = 2574.16 - 1290.92 = 1283.24
Support second (S2) 1287.08 - ( 1290.92 - 1283.28 = 7.64 ) = 1279.44
Third Support (S3) 1283.28 - ( 1290.92 - 1287.08 = 3.84 x 2 = 7.68 )= 1275.60
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it seems like the gold has now begun to move upwards slowly.yesterday after the news release it showed some movement but wasnt significant though.since Usd is gaining strength it has now become alot easier to trade in gold and other currency pairs due to their certain movement in opposite directions.when gold started to go up i opened my trade in Usd/Jpy and it gave me a good profit within an hour.cant wait to see what gonna happen in september.
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28.08.2014 7:07 XAUUSD
GOLD: consolidation before the publication of the second estimate of the US GDP for the 2nd quarter of 2014
Buy on a level breakthrough of 1290 with a 1318 target. Stop loss = 1270.
Reason for the trading strategy.
Today, the second estimate of the US GDP for the 2nd quarter of 2014 will be published. It is expected that this figure will be revised downwards, but only slightly - from 4.0% (m/m) to 3.9% (m/m). We believe the news will have some pressure on the dollar, allowing gold prices to gain a foothold above the level of 1290 USD.
GOLD, H4
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Trading analysis for 28th August, 2014. In Daily chart GOLD shows strongly bullish trend. At present GOLD breaks 3rd resistance level and try to break 4th resistance level i.e. 1296.69.
Pivot: 1283.13
Resistance levels
R1 1286.33
R2 1290.28
R3 1293.48
R4 1296.69
Support levels
S1 1279.18
S2 1275.98
S3 1272.03
S4 1268.09
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analysis for today 8 / 28 / 2014
GOLD (Daily Trade)
I think the movement is still in a bullish trend
retracement (38.2%) 1284.34
Retracement (50%) 1283.50
retracement (61,8%) 1282.65
Extensions (61.8%) 1291.49
Extensions (100.0%) 1294.22
Extensions (138.2%) 1296.95
Extensions (161.8%) 1298.64
calculation based on a Fibonacci retracement then today I choose buy
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analysis for today 8 / 28 / 2014
GOLD
Resistance : R1 1291.43 R2 1300.88 R3 1319.63
Support : S1 1277.02 S2 1267.57 S3 1248.82
Open : 1282.34
High : 1286.32
Low : 1282.13
Range : 419 Pips
Running Price : 1286.08
Strategy : BUY at the level 1286.08 stop loss at the level 1277.02 target take profit at the level 1319.63 or at the level 1357.13
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pair- gold
chart analysis time frame- m30
the up movement of the price is again rejecting from the resistance at 1290.30 level with making double top chart pattern and nick line of the support at 1286.30 level. the macd indicator is giving up movement signal but if its close below the 1280.30 then short with profit target at 1270.00
good luck
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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