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Daily technical analysis of GOLD By INSTAFOREX

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  #121  
Old 04-08-2016, 06:09
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading upwards. As I expected, the price tested the $1,367.01 level in a high volume. According to the 1H time frame, I have found that Gold went into correction but watch for breakout of supply trend line to confirm further upward movement. Observing the market profile today, it looks like a very neutral day (non trend) but since yesterday trend day, the consolidation day is normal. The short term trend is upward and selling Gold at this stage looks risky. The first take profit level is set at the price of $1,374.50.

Trading recommendations for today:
selling looks risky, watch for buying opportunities.




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  #122  
Old 10-08-2016, 10:05
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downwards. As I expected, the price tested the level of $1,337.87 in an average volume. According to the H1 time frame, I found a lack of supply at the level of $1,330.00. It is very risky to sell at this stage. There is strong bullish divergence on the RSI oscillator and a lack of selling pressure according to the volume analysis. I placed Fibonacci retracement to find potential resistance levels and got Fibonacci retracement 38.2% at the price of $1,343.00. According to the daily time frame, I found very high effort (volume) with very weak price action, which is sign of strength.

Trading recommendations for today:
Selling looks very risky. Watch for buying opportunities.




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  #123  
Old 12-08-2016, 07:56
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading upwards. As I expected, the price tested the level of $1,357.00 in a high volume. According to the H4 time frame, I found a morning star formation (bullish formation), which is a sign that selling looks risky. Besides, there is a rejection from the 21SMA. Upward targets are set at the price of $1,357.00 and $1,365.00 (resistance-cluster).

Trading recommendations for today:
Selling looks very risky. Watch for buying opportunities.




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  #124  
Old 16-08-2016, 17:41
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading upwards. As I expected, the price tested the level of $1,353.07 in a high volume. According to the 30M time frame, there is an upward trend and successful testing of supply, which is a sign that selling looks risky. According to the 5M time frame, I found ending of ABC corrective phase, which is a sign that buyers are in control. First resistance level is set at the price of $1,355.90. Anyway, if the price breaks the level of $1,355.90, the price may test the level of $1,359.80 (Fibonacci expansion 100%). Watch for buying opportunities on the dips.

Trading recommendations for today:
Selling looks very risky. Watch for buying opportunities.




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  #125  
Old 18-08-2016, 13:38
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading upwards. The price tested the level of $1,355.89 in a high volume. According to the 1H time frame, the price rejected from my downward target at the level of $1,335.95. I found a massive volume and strong rejection from the level of $1,335.95. Today, I found successful testing of supply in a low volume, which is a sign that selling looks risky. According to the 1M time frame, there is a finished ABC corrective phase and I expect a test of $1,353.50. The key resistance level is set at the price of $1,357.80.

Trading recommendations for today:
Selling looks risky, watch for buying opportunities.




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  #126  
Old 19-08-2016, 14:29
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downwards. The price tested the level of $1,344.48 in an ultra high volume. According to the 1H time frame, I found that Gold is in a bearish corrective phase. I have placed Fibonacci expansion levels to find a potential end of the bearish corrective phase. I got Fibonacci expansion 100% at the price of $1.343.00 and Fibonacci expansion 161.8% at the price of $1,336.75. There is a potential stopping volume according to the 1H time frame. So, be careful when selling Gold at this stage and wait until the bearish corrective phase is complete and then try to build buying positions. The first upward target is set at the price of $1,353.00.

Trading recommendations for today:
Selling looks risky, watch for buying opportunities.




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  #127  
Old 24-08-2016, 18:36
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
Gold has been trading sideways at the price of $1,337.00. According to the 4H time frame, I found trading range between the price of $1,330.00 (support) and the price of $1,357.60 (resistance). The price action suggests that buyers protected the support (pin bars from the support). I also found bullish outside bar formation, which is a sign that selling looks risky. So, I expect testing of resistance at the price of $1,357.00. Be careful when selling and watch for potential buying opportunities.

Trading recommendations for today:
Selling looks risky, watch for potential buying opportunities




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  #128  
Old 25-08-2016, 17:32
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
Gold has been trading downward. The price tested the level of $1,322.45 in an high volume. According to the 4H time frame, I found a broken trading range. The price broke the support at the level of $1,329.50 in a high volume, which is a sign that buying looks risky. My advice is to watch for selling opportunities on the pullbacks. The first downward target is set at the price of $1,311.00.

Trading recommendations for today:
Buying looks risky, watch for selling opportunities on the pullbacks.





Last edited by InstaForex; 25-08-2016 at 17:34.
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  #129  
Old 31-08-2016, 20:58
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, Gold has been trading sideways at the price of $1,314.00. According to the 1H time frame, I found upward correction in progress but be careful since I expect further downward continuation. The short-term trend on Gold is downward and my advice is to watch for selling opportunities. Today, I found down fractal at the price of $1,311.88. A pending order (sell stop) at the price of $1,311.78 would be a good idea at this point. The first take profit level is set at the price of $1,309.00 - $1,305.50.

Trading recommendations for today: Watch for selling opportunities.




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  #130  
Old 01-09-2016, 20:30
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
Gold has been trading downwards. As I expected, the price tested the level of $1,303.97 in a ultra high volume. According to the 1H time frame, I found strong selling pressure in the market. So, be careful when buying gold and watch for selling opportunities. I found two down fractals today according to the 1H time frame. The first one is set at the price of $1,305.00 (already filled) and the second fractal is set at the price of $1,304.00. My advice is to place pending order (sell stop) at the price of $1,304.00 with potential stop loss at $1,311.70. Take profit level is set at the price of $1,292.35.

Trading recommendations for today: Watch for selling opportunities.




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  #131  
Old 06-09-2016, 20:19
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading upwards. The price tested the level of $1,333.02 in a high volume. The price broke a swing high at $1,329.82, which confirmed further upward movements. According to 30M time frame, I found a broken up fractal at the price of $1,329.47.According to the volume analysis, I found low volatility today. Watch for buying opportunities. The intraday trend is upward. An upward target is set at the price of $1,341.50.

Trading recommendations for today: Watch for buying opportunities. The intraday trend is upward.




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  #132  
Old 08-09-2016, 04:57
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading upwards. As I expected, the price tested the level of $1,352.22 in a high volume. Gold reached my take profit from yesterday at the price of $1,341.50. Anyway, today I found weak demand and potential topping formation according to the 15M time frame. My advice is to be careful when buying and watch for selling opportunities. The breakout of $1,346.80 (down fractal) will confirm potential downward movement and testing of $1,341.85 - $1,339.50.

Trading recommendations for today: Watch for potential selling opportunities.




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  #133  
Old 09-09-2016, 11:44
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideways at the price of $1,346.60. According to the 30M time frame and using the market profile, I found point of control from yesterday at the price of $1,348.95. The price rejected successful from point of control and created up-thrust. This is for me a good sign for a further downward price. My advice is to watch for selling opportunities. Take profit levels are set at the price of $1,341.85 and $1,339.20.

Trading recommendations for today:
Watch for potential selling opportunities.




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  #134  
Old 14-09-2016, 20:52
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downwards. As I expected, the price tested the level of $1,313.28 in a high volume. My take profit from yesterday at the price of $1,314.30 has been reached. Anyway, the price rejected from the level of $1,314.00 and we can observe a corrective phase. Using the market profile, I found a strong point of control at the price of $1,327.80-$1,328.40. The trend is still downward but watch for a potential end of the bullish corrective phase and then watch for selling opportunities. The levels of $1,324.00-$1,328.00 looks good to establish selling positions. Take profit level is set at the price of $1,313.30.

Trading recommendations for today:
Watch for potential selling opportunities after the upward correction.




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  #135  
Old 15-09-2016, 19:36
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently,
EUR/NZD has been moving upwards. As I expected, the price re-tested the level of 1.5501 in a high volume. According to the 30M time frame and using the market profile, I found a point of control from yesterday at the price of 1.5425. The price respected the point of control in Asian trade and I found strong rejection (buying tail), which is a sign that buyers are ready for higher price. If the price breaks the level of 1.5505, the next upward target will be at the price of 1.5645. The trend is still upward. I found upward trend channel, which confirmed that buyers are in control.

Trading recommendations for today:
Selling EUR/NZD at this stage looks risky. Watch for buying opportunities




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  #136  
Old 16-09-2016, 15:56
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading downwards. As I expected, the price tested the level of $1,309.07 in a high volume. My target from yesterday at the price of $1,314.30 has been met. According the 30M time frame and using the market profile, I found a neutral day today and point of control at the price of $1,314.50. Anyway, the trend is still bearish. If the price breaks the level of $1,309.00 in a high volume, we may see potential testing of $1,306.00 and $1,302.50.

Trading recommendations for today:
Neutral day on the market but short-term trend is bearish. Watch for selling opportunities if the price breaks $1,309.00.




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  #137  
Old 21-09-2016, 09:50
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideways at the price of $1,314.15. According the 30M time frame and using the market profile, I found a point of control at the price of $1,315.60. I found the weakness on the European sesion and selling tail, which is a good sign for a further downward movement. Watch for selling opportunities. Take profit levels are set at the price of $1,309.50 and $1,306.70.

Trading recommendations for today:
Sellers came in on the European sesion. Watch for selling opportunities.




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  #138  
Old 23-09-2016, 19:18
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideways at the price of $1,337.50. The recent strength on Gold was caused due to FED Fund rate decision this week but today I found lack of professional interest for an upward movement. I found a broken upward trend in the background. Using the market profile, I found point of control from yesterday at the price of $1,332.60. The first target is set at the price of $1,326.50 and second at the price of $1,320.00.

Trading recommendations for today:
Strong sign of weakness in the background and broken upward trend line. Watch for potential selling opportunities.




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  #139  
Old 27-09-2016, 20:20
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideways at the price of $1,333.90. I found a fake breakout of supply trendline, which is good sign for further downward movement. Using the market profile, I found a yesterday's point of control at the price of $1,336.00. Watch for selling opportunities. Target levels are set at the price of $1,332.75, $1,326.50, and $1,320.00.

Trading recommendations for today:
I've noticed a strong sign of weakness in the background and fake breakout of upward trend line. Watch for potential selling opportunities.




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  #140  
Old 30-09-2016, 10:01
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading downwards. As I expected, the price tested the level of $1,317.79 in a high volume. The third take profit level at the price of $1,320.20 from yesterday has been met. The intraday trend is still downward. So, be careful when buying gold at this stage and watch for selling opportunities. Using the market profile analysis, I found yesterday's point of control at the price of $1,325.30. Watch for selling opportunities on pullbacks. Next downward targets are set at the prices of $1,314.50 and $1,308.50.

Trading recommendations for today:
Intraday downward trend. Watch for selling opportunities on pullbacks.




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  #141  
Old 04-10-2016, 11:41
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideways at the price of $1,316.50. According to the 4H time frame, I found a large falling wedge formation (bullish formation). The price is in the middle of the falling wedge. My advice is to watch for a breakout of the wedge formation (current buy point at $1,343.50). Anyway, if the price breaks the level of $1,310.00 before the larger upward movement, Gold may again visit a lower diagonal around the price of $1,294.00. According to the Daily time frame, I found successful rejection of 100SMA, which is a sign that buyers are in control at this point.

Trading recommendations for today:
Watch for breakout of wedge formation to confirm upward continuation.




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  #142  
Old 06-10-2016, 20:54
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideways at the price of $1,267.50. Using the market profile analysis, I found strong downward momentum and yesterday's peak area (resistance) at the price of $1,267.90 and point of control at the price of $1,271.75 on the 30M time frame. I placed simple moving average with 48 period and found successful rejection. Watch for selling opportunities. Downward target is set at the price of $1,250.79.

Trading recommendations for today:
Watch for selling opportunties. Take profit level is set at the price of $1,250.79.




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  #143  
Old 07-10-2016, 11:29
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview
The gold price touched our awaited target at $1,249.94 and showed bullish rebound from there. The price is likely to regain the main bullish trend after the correctional decline that prevailed in the dynamic since touching the recently recorded top at $1,375.00. Stochastic shows clear positive signals on the four-hour time frame. Therefore, the bullish bias are expected in the upcoming sessions unless a break of $1,249.94 levels that will push the price to target $1,211.31 levels mainly. Awaited positive targets begin by a breach of $1,297.74 level to confirm the rise continuation on the short- and mid-term basis.

The expected trading range for today is between the $1,240.00 support and $1,285.00 resistance.




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  #144  
Old 11-10-2016, 18:57
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading downwards. As I expected, the price tested the level of $1,252.47 in a high volume. According to the 30M time frame and using the market profile analysis, I found a rejection from a profile peak at the price of $1,262.00, which is a sign that sellers are in control. The short-term trend is downward and my advice is to watch for selling oportunities. The price is below 50SMA according to the 30M time frame. The downward target is set at the price of $1,242.40.

Trading recommendations for today:
Watch for selling opportunties. Take profit level is set at the price of $1,242.40.




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  #145  
Old 14-10-2016, 15:04
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading downwards. The price tested the level of $1,252.70 in a high volume. On the 30M chart, I found yesterday's point of control zone around the price of $1,258.40, using the market profile. The price is trading below 48 SMA according to the 30M time frame, which is another sign of weakness. The short-term trend is still downward. Watch for selling opportunities. Take profit levels are set at the price of $1,250.20 and $1,241.00.

Trading recommendations for today:
Watch for selling opportunities. Take profit level is set at the price of $1,250.20.




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  #146  
Old 19-10-2016, 17:08
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been upwards. The price tested the level of $1,270.65 in an average volume. On the 4H time frame chart, I found a trading range (potential re-distribtion) between the price of $1,265.50 (resistance) and the price of $1,241.22 (support). The Gold is in a downward trend and my advice is to watch for a potential breakout of suppot for bearish position. Watch for breakout of $1,214.22 to confirm further lower price. The downward target is set at the price of $1.201.60. According to 30M time frame and using the market profile analysis, I found a point of control for today at the price of $1,262.60. Sellers may decide to re-test the point of control.

Trading recommendations for today:
Watch for selling opportunities. The target is set at the price of $1,201.60.




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  #147  
Old 21-10-2016, 15:07
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideways around the price of $1,265.00. According to the 30M time frame and using the market profile analysis, I found the strong point of control area at the price of $1,261.50. The price rejected successfully from the point of control, which is a very good sign of strength. Watch for buying opportunities. Intraday upward take profit level is set at the price of

Trading recommendations for today:
Intraday upward trend. Watch for buying opportunties on the dips.




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  #148  
Old 25-10-2016, 19:29
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideways around the price of $1,270.00. According to the 30M time frame and using the market profile analysis, I found the strong point of control from yesterday $1,265.00. The price broke the point of control from yesterday and I expect higher price. Upward targets are set at the price of $1,271.60 and $1,273.90. Watch for buying opportunities on the dips.

Trading recommendations for today:
Strength on the Gold. Watch for buying opportunities on the dips.




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  #149  
Old 28-10-2016, 04:58
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis gold has been trading downwards. The price tested the level of $1,264.53. The price reached my downward target from yesterday at the price of $1,268.75. According to the 30M time frame and using the market profile analysis, I found rejection of extreme swing low at the price of $1,265.00, which is sign of strength. Watch for buying opportunities. Upward targets are set at the price of $1,274.15 and $1,276.15.

Trading recommendations for today:
Strengthen the Gold. Watch for buying opportunities on the dips.




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  #150  
Old 03-11-2016, 20:31
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading downwards. The price tested the level of $1,285.46 in a high volume. According to the 15M time frame and using the market profile analysis, I found intraday initiative sellers, which is a sign that sellers are in control. The price went to test point of control at $1,296.00. I found a previous swing low at the price of $1,295.60, which right now is acting like strong resistance. Watch for selling opportunities. The first downward station is set at the price of $1,285.60.

Trading recommendations for today:
Weakness on Gold is expected today. Watch for selling opportunities.




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  #151  
Old 04-11-2016, 15:52
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideways at the price of $1,300.00. According to the 30M time frame and using the market profile analysis, I found strong resistance and strong point of control at the price of $1,300.25. Also, there is supply trendline in the background, which is a good sign for further lower price. Watch for selling opportunities. The first downward target is set at the price of $1,294.81 and second target is set at the price of $1,285.65.

Trading recommendations for today:
Weakness on Gold is expected today. Watch for selling opportunities.




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  #152  
Old 08-11-2016, 19:57
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading downwards. The price tested the level of $1,278.73 in an average volume. Using the market profile analysis, I found potential intraday bottoming near the price of $1,278.80 on the 15M time frame. I found successful rejection from yesterday's low at the price of $1,278.80, which is a sign that buyers may step in. Be careful when selling gold near the lows and watch for potential intraday buying opportuniities. First upward station is set at the price of $1,282.75.

Trading recommendations for today:
Successful rejection from the low in the background. Watch for buying opportuntiies.




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  #153  
Old 10-11-2016, 18:41
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading downwards. As I expected, the price tested the level of $1,269.99 in a high volume. The price met my yesterday's take profit at $1,270.00. Using the market profile analysis, I found today's point of control at the price of $1,285.80. Sellers are in control of the market. Price is trading below the 21 SMA, which is a sign for weakness. Watch for selling opportunities on pullbacks. Targets are set at the price of $1,269.30, $1,261.40 and $1,234.10.

Trading recommendations for today:
Sellers are in control, watch for selling opportunities on pullbacks




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  #154  
Old 11-11-2016, 13:33
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideyways at the price of $1,257.45. The price met my yesterday's take profit at $1,261.40. Using the market profile analysis, I found today's point of control at the price of $1,260.35. Also, I found trading range between the price of $1,250.75 (support) and $1,265.05 (resistance). Watch for potential breakout of support or resistance to confirm direction. Since the trend is bearish, I would watch for bearish breakout. If the price breaks the level of $1,250.75, downward target will be set at the price of $1,226.40 (Fibonacci expansion 100%).

Trading recommendations for today: Watch for potential breakout of trading range to confirm further direction




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  #155  
Old 18-11-2016, 03:11
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideways around the price of $1,227.10. Using the market profile on 30M time frame, I found a strong 3-day point of control at the price of $1,224.00-$1,226.00. Besides, I found a new upward channel and price respected lower diagonal few times, which is a good sign for a furher upward direction. Watch for buying opportunities. Targets are set at the price of $1,232.70 and $1,238.00.

Trading recommendations for today: Watch for potential buying opportunities.




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  #156  
Old 18-11-2016, 19:06
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading downwards. The price tested the level of $1,202.76 in a high volume. Using the market profile on 15M time frame, I found today's point of control at the price of $1,208.20. I found signs of a trend dynamic from bearish to bullish. Price is trading above 21SMA, which indicates strength. Besides, a down bar closed in the middle of the background is another sign of strength. Watch for potential intraday buying oppportunities.

Trading recommendations for today: Watch for potential buying opportunities.




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  #157  
Old 23-11-2016, 21:45
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading downwards. As I had expected, the price tested the level of $1,209.86 in a high volume. Using the market profile analysis, I found a strong point of control from 2 days ago at the price of $1,214.00. The price made resistance cluster today near this level; and it is good sign of weakness. Watch for potential selling opportunities. The first downward target is set at the price of $1,206.15; and second target, at the price of $1,203.20.

Trading recommendations for today: Watch for potential selling opportunities.




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  #158  
Old 25-11-2016, 07:40
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downwards. As I had expected, the price tested the level of $1,180.17 in a high volume. Using the market profile analysis, I found the fairest price today at the level of $1,186.30. Besides, I found a trading range between the price of $1,180.00 (support) and the price of $1,192.00 (resistance). Watch for a potential breakout of a trading range to confirm further direction. According to the 30M time frame, I found strength and bar closed in the middle, which is a sign of strength. If the price breaks upward, the upward target is set at the price of $1,212.70 (the point of control from yesterday). The breakout of support will confim potential testing of $1,172.50. I give a higher chance to the upside according to the current background.

Trading recommendations for today:
Watch for a breakout of a trading range to confirm a further direction.




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  #159  
Old 29-11-2016, 14:23
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading sideways at the price fo $1,188.50. The analysis from yesterday is still valid. Using the market profile analysis, I found a strong point of control at the price of $1,186.00. Anyway, I found the trading range between the price of $1,180.40 (support) and the price of $1,197.00 (resistance). The short-term trend is downward but my advice is to watch for a potential breakout of a trading range to confirm a direction. The breakout of resistance may confirm further testing of $1,212.00. The breakout of support may confirm potential testing of $1,173.00.

Trading recommendations for today:
Watch for a potential breakout of a trading range to confirm a further direction.




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  #160  
Old 01-12-2016, 12:15
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving downwards. As I expected, the price broke its trading range and tested the level of $1,161.96 in a high volume. Using the market profile analysis, I found a strong buying tail from the buyers, which is a sign that selling looks very risky. My advice is to watch for buying opportunities. The first upward target is set at the price of $1,176.40. Anyway, if the price breaks the level of $1,162.00, the downward station will be set at the price of $1,156.60

Trading recommendations for today:
The buying tail is in the background, selling looks risky. Watch for potential buying opportunities.




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