Wednesday, October 24, 2012

Gold trading strategy for today | 24-Oct-2012

Let us discuss the trading strategy in Gold for today. I'll use few indicators, which have already been discussed in Indicators section of this website.

As mentioned in my last article, Gold is weak below $1730. It is currently trading near $1708. So, do not miss any sell signal given by Doda-Donchian below $1730. At the time of writing this article, it has just given sell signal @1709.

$1706.03 is the small support level.

$1690 is the easy visible target and immediate support for Gold as of now.

Make the stop-loss of $1709.70


Tuesday, October 23, 2012

Gold trading strategy | 23-Oct-2012

Let us discuss the trading strategy in Gold for today. Gold is currently trading near $1722. It's been in downtrend from the last few trading sessions. On the upside, $1730 has become the main resistance level. Do not take any long position till Gold closes above $1730-$1734.  On the daily chart, $1686 - $1690 seems to be very strong support. Till then, continue with your short positions.


Thursday, October 11, 2012

Commodity trading guide | 11-Oct-2012

1. Gold: It has bounced back to some extent. But buy signal is only from 1777.40. On the upside, 1790.33 will be resistance and on the downside 1758.99 will be the support.

2. Silver: Take long call only above 34.3033. Resistance is at 34.96

3. Crude: It is in bullish mode. 90.14 is the major support level. If it closes below it, exit and take short position.

Forex Technical Charts explained | 11-Oct-2012

1.  EURUSD: It is still in bearish mode. Take only short positions here. Long positions only above 1.2969

2. USDJPY: It has closed down its major support level of 78.43. So, no long positions here too.

3. AUDUSD: It managed to close above 1.0246. So, take long positions here. 1.0341 and 1.3952 will be resistance here.

4. GBPUSD:  Take only short positions here. It will take some time to give buy signals.

Tuesday, October 9, 2012

Gold Technical Chart | 09-Oct-2012

 Let us discuss the technical chart of Gold on H4 timeframe, using Doda-Donchian indicator.

gold technical chart

Gold is currently trading @1779.16. It managed to get support around 1769. Now, it will surely break its resistance of 1781.20 - 1781.92. Take only long position in Gold. Its weekly chart is also bullish. Avoid short-selling here.



Forex Guide for 09-Oct-2012

Below is your guide to forex trading for today using technical analysis with various useful indicators.

1. EURUSD: It is trading around its weekly pivot level of 1.2969. Take only long position above this level. 1.29951-1.29961 is the resistance level. Immediate target on upside is 1.30239.

On the downside, if it closes below 1.2969, avoid taking long positions then. Instead, take only short position. 1.2950 will be support level.

2. EURAUD: It should take support around 1.2659. If it closes below this level, take short position.

3. AUDUSD: From the last few trading sessions, it is trading below its weekly pivot points; currently at 1.0246. Take long position only when it closes above this point. Below this level, don't miss any short call.

4. EURGBP: It is in bullish mode. 0.80728 is the immediate support level. Weekly pivot point is at 0.8033. Don't miss any long position above this level.

5. USDJPY: It has broken support level of 78.43. Now, take only short position. However, if it closes above 78.43, take only long position.