Main » 2010 » May » 6 » Intraday Strategy - signals on gold GCG 06/05/10
11:34 Intraday Strategy - signals on gold GCG 06/05/10 | |
| Gold traded within the range of 1075-1227 on the hourly chart. It shows that gold is trading below the moving average with period 55 per hour chart (the level of 1174.8), which has a lower price in the short term. I recommend to open long positions after the breakdown of the results of hours of resistance at the level of 1178.8 in order to increase the resistance at 1182.4 and in case of breakdown it up to an hour to 1187.9. Stoploss if this strategy can be placed at 1173.0 I recommend to open short positions in the breakdown of support at the level of 1171.4 in order to reduce the level of support at 1167.1 and in case of breakdown up to an hour to 1163.9. Stoploss if this strategy can be placed at the level of 1177.0. Given that the moving average and the location of boundaries of technical figures over time is moving, it is necessary to the hourly chart to adjust their status. I also recommend to open positions up to an hour to avoid false breakouts. In the case of a strong movement in the breakout technical figures, I recommend to wait for correction. The level, which was the resistance should be a strong support and it was near this level should be open position in the direction of the breakdown. Analyst "Forex Analytics" Alex Sedyshev
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