Monthly
Our major concern on monthly chart is still the same. Whether we will
get upward retracement and possible BC leg of larger AB=CD down move or
not. October and November candles look not very impressive. While
october has shifted to doji right in the end of the month, november
candle is too small and looks very shy yet. Currently this action does
not look like possible upward reversal and starting point of notable
retracement up. Fundamental situation and CFTC data also stand not in
favor of possible appreciation. Seasonal trend is still bullish, but it
is not always lead to growth. Sometimes, it could just hold depreciation
and now we see something of this kind, since market stands in some
range since August.
Our previous analysis (recall volatility breakout - VOB) suggests upward
retracement. As market has significantly hit oversold we’ve suggested
that retracement up should be solid, may be not right to overbought, but
still significant. Take a look at previous bounces out from oversold –
everytime retracement was significant. Thus, we’ve made an assumption of
possible deeper upward retracement that could take a shape of AB=CD,
and invalidation for this setup is previous lows around 1170s. If market
will pass through it, then, obviously we will not see any AB=CD up.
That’s being said, current situation on monthly chart looks mostly as
indecision, although theoretical chances for upward continuation still
exist. At the same time growing concern of investors about QE tapering
and CFTC data in long term perspective could change picture on monthly
chart. Currently we do not have clear signs here on definite upward
continuation.
Weekly
Despite that trend holds bullish here, overall picture looks bearish for
me by some reasons. First is, take a look – market has shown reversal
without any technical reasons, price is not at resistance or overbought.
When price stands in upward AB=CD it should not show reversals prior
hitting at least minor 0.618 target. But here we see solid downward move
right after appearing of potential “C” point of AB=CD pattern. Second –
action has taken a shape of bearish engulfing and price has tested MPP.
And finally, black candle almost a reversal type of – it has opened
above previous close, created new high, new low and closed almost below
the open price of previous candle. Based on this chart, possible point
of return to bullish sentiment and trend is breakout through 1380 top.
Until that will happen, engulfing pattern will hold and situation will
remain bearish in short-term. Also, keep in mind guys, that current
action easily could shift to Butterfly “buy” as we’ve suggested
previously. If this will happen market will be under way to 1115 and
1025 areas.
Daily
As we’ve got a pattern on weekly and a bit unnatural downward reversal
(mostly driven by fundamentals), the easy way to act here is to try to
stick with pattern. On daily time frame we do not have bullish stop
grabber – trend just has shifted bearish and market has reached support
area – MPP +50% support level.
To enter short with weekly engulfing pattern we need to sell some rally
inside the body of the pattern as soon as it will start.
4-hour
Ok, here is our working swing down. There are two significant
resistance levels here – K-level around 1326.5-1329 and WPP+Fib level at
1334-1339. Taking into consideration gold’s habit to make deep
retracement, second level of more prefferable. Also take a look that
WPR1 stands right above the highs of weekly engulfing pattern.
I do not see any reversal pattern right now here, except this nicely
looking doji. On 30-ming chart you probably could find reverse H&S
pattern. Some may be rally up will start right from this level, we’ll
see. If this will indeed happen, the second step of our plan is
understand where retracement could finish and where we should enter
short.
and start earning commissions from all
the trading activity of the clients you referred to XM.
The Advantages of Promoting XM:
The Highest Conversion in the Industry
Ability to transfer funds between IB account from/to client account
No limits on how much you can earn
No limits on how much you get paid every month
Fastest and most reliable IB payouts
Transparent reporting and detailed statistics
Account Managers in more than 18 languages
Leverage up to 1:888 for your Clients
Low Minimum Deposit for your Clients
Multiple Deposit Options for your Clients
Monthly Timely Payments
Tailor-Made Solutions
No Fees to Start
Multiple Platforms to Promote
Flexible Commission Rates
Unlimited Banners and Artwork
Nonstop Promotions for your Clients
The Partner Promotion for 2013 Offers
| Clients | Commission on Currencies | Commission on Gold | Second Tier (Sub Ib's) |
|---|---|---|---|
| 3-10 | $7 | $25 | 10% |
| 11-30 | $8 | $25 | 10% |
| 31+ | $10 | $25 | 10% |
Get paid to trade Gold in 3 easy steps.
1. Open your account HERE
2. Send me your MT4 trading account number and email address
3. Send me your Paypal or Moneybookers account number
If you do not have a Paypal or Moneybookers account,
please click on one of the links below to open your free account today.
Moneybookers
Paypal
You will be paid $10 per standard lot of Gold traded and
all payments will be made by the 25th of each month.
In order for your payment to be processed each month, please send me an email requesting payment and stating the amount of lots you have traded and your MT4 account number between the 20th and 24th of the month.
thelordoftruth@gmail.com
1. Open your account HERE
2. Send me your MT4 trading account number and email address
3. Send me your Paypal or Moneybookers account number
If you do not have a Paypal or Moneybookers account,
please click on one of the links below to open your free account today.
Moneybookers
Paypal
You will be paid $10 per standard lot of Gold traded and
all payments will be made by the 25th of each month.
thelordoftruth@gmail.com
The Gold Price & Trend Predictions blog made for gold traders to find good news and to provide the traders with daily price predictions and to learn how to trade the Forex Market for free.Just pure learning! It will be of great fun.You can judge by yourself the quality of information that I will be giving you in my blog.
Welcome to my blog where you can learn how to trade the Forex Market for free.The material is all created by myself and not copied from anywhere. There is a lot yet to come since there is a lot that you need to learn, and there is a lot that I need to share with you! So please just be patient – it will be worth it.You can judge by yourself the quality of information that I will be giving you . So just go now and start learning!
Below is a quick guide of how this website is structured, so you can find what you are looking for fast. Remember that I update the pages every day so either check back often.
In this section you will find quite a long article of what Forex is all about. If you are a beginner, this is a must read. It explains in detail what is required to start trading, what you should do and not, typical traps to avoid as a beginner and a lot of valuable information which you as a beginner must digest and learn prior opening any Forex account with real money.
In this section you will find your road map on how to become a real successful trader couple of months as from today.
In this section you will know the 3 major areas – Technical Analysis, Fundamental Analysis and Trading Physcology.
In this section you will find a gold mine of information about the technicalities of Forex. We will start from the very basics covering all the Forex jargon words which you will be hearing every day and we will be taking you up to the level required to finally learn to trade like a pro – technical analysis, also found in this section.
In this section you will see the tips that will help you stay away from crap forex products, which unfortunately the Forex market is invaded with.
This section has a very detailed article on how to avoid being scammed in this ruthless world of Forex. I will explain in detail six tips that you need to look for prior purchasing any products. Even though most of the time you may claim your money back,the time wasted is never returned. You should have used that time to learn how to trade! Read it!
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
