Thread: Gold
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analysis for today 9 / 3 / 2014
GOLD
Resistance : R1 1273.63 R2 1283.08 R3 1301.83
Support : S1 1258.06 S2 1248.61 S3 1229.86
Open : 1265.68
High : 1267.36
Low : 1264.33
Range : 303 Pips
Running Price : 1267.16
Strategy : SELL at the level 1267.16 stop loss at the level 1273.63 target take profit at the level 1229.86 or at the level 1192.36
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Price raised $4 after market open and formed another bullish candle on daily chart, if its able to break the 1350 then we see some quick rally toward all time high. The general over short term basis is to the upside targeting 1350 as far as area of 1360.
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Trading analysis for 03rd September, 2014. In Daily chart GOLD shows bearish trend. At present GOLD below from the pivot point and near to the 1st support level. If GOLD breaks 1st support level then next strong support level is 1215.26.
Pivot: 1271.61
Resistance levels
R1 1280.88
R2 1296.57
R3 1305.84
R4 1315.10
Support levels
S1 1255.92
S2 1246.65
S3 1230.96
S4 1215.26
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02.09.2014 9:09 XAUUSD
GOLD: consolidation before the publication of the US manufacturing sector PMI
Sell on a level breakthrough of 1273 with 1258 target. Stop loss = 1283.
Reason for the trading strategy.
Today at 2:00 PM GMT, the US manufacturing sector PMI will be published. In August, the indicator will see an insignificant decline from 57.1 p. to 57.0 p., which will not likely put pressure on the US dollar. Note that the price of gold continued to fall since the publication of strong US GDP data for 2Q of 2014, which increased the likelihood of an early tightening of interest rate policy in the world's largest economy.
GOLD, Daily
AUDUSD, H4
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analysis for today 9 / 2 / 2014
GOLD (Daily Trade)
I think the movement is still in a bearish trend
retracement (38.2%) 1286.29
Retracement (50%) 1286.49
retracement (61,8%) 1286.69
Extensions (61.8%) 1284.57
Extensions (100.0%) 1283.91
Extensions (138.2%) 1283.25
Extensions (161.8%) 1282.85
calculation based on a Fibonacci retracement then today I choose sell
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Trading Signal - 02/09/2014 - 10:00 (GMT +3)
Instrument: GOLD
Time :
60min CHART
Trend & Condition:
Downwards Strong
Waiting for a retracement higher towards the 1284 resistance level in order to reinstate SHORT positions.
A Medium probability, entry signal to go LONG was given at 1292 after the market completed a bullish trend reversal pattern. Only the downward break of 1273 would cancel the bullish scenario.
Support & Resistances
1280 1284
1268 1287
- 1290
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Trading analysis for 02nd September, 2014. In Daily chart GOLD shows bearish trend. At present GOLD breaks all 4 support levels. Now GOLD is at 1276.14.
Pivot: 1286.62
Resistance levels
R1 1287.63
R2 1288.37
R3 1289.38
R4 1290.38
Support levels
S1 1285.88
S2 1284.87
S3 1284.13
S4 1283.38
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analysis for today 9 / 2 / 2014
GOLD
Resistance : R1 1291.71 R2 1301.16 R3 1319.91
Support : S1 1278.01 S2 1268.56 S3 1249.81
Open : 1286.95
High : 1287.31
Low : 1282.41
Range : 490 Pips
Running Price : 1283.18
Strategy : SELL at the level 1283.18 stop loss at the level 1291.71 target take profit at the level 1249.81 or at the level 1212.31
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analysis for today 9 / 2 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GOLD on the date 9 / 1 / 2014
OPEN 1287.04
HIGH 1287.35
LOW 1285.63
CLOSED 1286.88
The third resistance (R3) 1287.35 - ( 1286.62 - 1285.63 = 0.99 x 2 = 1.98 )= 1289.33
The second Resistance (R2) 1286.62 + 1287.35 - 1285.63 = 1288.34
First resistance (R1) 1286.62 x 2 = 2573.24 - 1285.63 = 1287.61
pivot points 1287.35 + 1285.63 + 1286.88 = 3859.86 / 3 = 1286.62
Support for the first (S1) 1286.62 x 2 = 2573.24 - 1287.35 = 1285.89
Support second (S2) 1286.62 - ( 1287.35 - 1285.63 = 1.72 ) = 1284.90
Third Support (S3) 1285.63 - ( 1287.35 - 1286.62 = 0.73 x 2 = 1.46 )= 1284.17
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Today we are predicted that GOLD pair move more downward with some above mentioned conditions, so BUY trade is best and in case this pair move upward direction then possible euro zone have strong numbers due to event announcement / result, because strong and weakness condition clear on news announcement, so we are quickly modified our Signals Session.BUY entey 1281.00 sl:1270.00 TP:1286.00
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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