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2016-09-06 11:48 (GMT+2) Gold
XAU/USD, D1
On the daily chart, the instrument is trading just below the middle MA of Bollinger Bands. The price remains above its moving averages that are directed up. The RSI is testing its longer MA from below. The Composite is testing its most recent resistance.
XAU/USD, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains on the level with its moving averages that are horizontal. The RSI is testing its most recent resistance. The Composite is testing its longer MA.
Key levels
Support levels: 1310.16 (July lows), 1304.02 (local lows), 1280.09 (March highs).
Resistance levels: 1329.84 (local highs), 1345.52 (local highs), 1365.08 (August highs).
Trading tips
The price turned up just above its medium-term ascending trendline and could retest its local highs in the region of 1345.52.
Long positions can be opened from the level of 1332.84 with the target at 1344.52 and stop-loss at 1328.02. Validity – 1-2 days.
Short positions can be opened from the level of 1302.02 with the target at 1283.09 and stop-loss at 1310.16. Validity – 2-3 days.
On the daily chart, the instrument is trading just below the middle MA of Bollinger Bands. The price remains above its moving averages that are directed up. The RSI is testing its longer MA from below. The Composite is testing its most recent resistance.
XAU/USD, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains on the level with its moving averages that are horizontal. The RSI is testing its most recent resistance. The Composite is testing its longer MA.
Key levels
Support levels: 1310.16 (July lows), 1304.02 (local lows), 1280.09 (March highs).
Resistance levels: 1329.84 (local highs), 1345.52 (local highs), 1365.08 (August highs).
Trading tips
The price turned up just above its medium-term ascending trendline and could retest its local highs in the region of 1345.52.
Long positions can be opened from the level of 1332.84 with the target at 1344.52 and stop-loss at 1328.02. Validity – 1-2 days.
Short positions can be opened from the level of 1302.02 with the target at 1283.09 and stop-loss at 1310.16. Validity – 2-3 days.
Scenario
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 1332.84 |
| Take Profit | 1344.52 |
| Stop Loss | 1328.02 |
| Key Levels | 1280.09, 1304.02, 1310.16, 1329.84, 1345.52, 1365.08 |
Alternative scenario
| Recommendation | SELL STOP |
| Entry Point | 1302.02 |
| Take Profit | 1283.09 |
| Stop Loss | 1310.16 |
| Key Levels | 1280.09, 1304.02, 1310.16, 1329.84, 1345.52, 1365.08 |
with
M Samer Al Reifae
Official HiWayFX Representative in Romania
samer@hiwayfx.com
+40 734 277 757
Official HiWayFX Representative in Romania
samer@hiwayfx.com
+40 734 277 757
- YOU WILL NEVER TRADE ALONE -
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.
