Forex Lasers Forum

Go Back   Forex Lasers Forum > FOREX TRADING > Forex Analysis

Forex Analysis Technical and fundamental analysis of the majors and crosses. Post your FX charts!

» Forex Ad
Reply
 
LinkBack Thread Tools Search this Thread
  #1  
Old 23-05-2015, 12:50
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Daily technical analysis of GOLD By INSTAFOREX

Overview:
Gold has been trading sideways around the level of $1,205.00. The price supports cluster around the level of $1,203.00. We can observe supply in a high volume with strong price action in the daily time frame. The short-term trend is neutral. The daily resistance at the level of $1,224.00 held successfully. If the price breaks the level of $1,224.00 in a high volume and strong price action takes place, we may see possible testing at the level of $1,250.00 (Fibonacci expansion 100%). Anyway, I found strong trading range between the price of $1,214.00 and $1,201.00. I am waiting for a clear breakout with high volume to confirm direction.

Trading recommendations:
Be careful when buying gold below the price of $1,225.00.




Reply With Quote
  #2  
Old 03-06-2015, 10:13
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Technical outlook and chart setups:
Gold is trading around the level of $1,190.00 at the moment after pulling back from $1,195.00 on the higher side. Please note that the metal has already tested the trend-line support twice earlier and also bounced from the fibonacci 0.786 level of the rally between $1,168.00 and $1,231.00. It is hence recommended to remain long now with risk around $1,168.00. Immediate support is seen at the level of $1,180.00 (interim) followed by $1,168.00, $1,162.00, and lower. Resistance is seen at $1,215.00 (interim) followed by $1,231.00, $1,235.00/40.00, and higher respectively.

Trading recommendations:
Remain long for now, stop is at $1,168.00, a target is open.

Good luck!




Reply With Quote
  #3  
Old 12-06-2015, 17:37
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Gold has been trading downwards. The price tested the level of $1,176.57 in a ultra-high volume. In the daily time frame, we can observe a supply bar in a volume below the average. In the M30 time frame, we can observe volume spike (buying climax) at the price of $1,185.00 in the background, which is sign that buying looks risky. Anyway, I am neutral on this pair since we got major support around the level of $1,168.00-$1,162.00. Since we got strong buying climax in the background, bearish side is more possible.

Trading recommendations:
Buying climax around the price of $1,184.00 in the background. Buying gold at this stage looks risky.




Reply With Quote
  #4  
Old 19-06-2015, 18:31
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Gold has been trading sideways around the price of $1,202.00. In the daily time frame, we can observe a strong bullish bar in a volume below the average. According to the M15 time frame, I found trading range between the prices of $1,205.00 and $1,198.00. I am waiting for a stronger price action and breakout to confirm further direction. I placed Fibonacci retracement to find potential resisntace and got Fibonacci retracement 61.8% at the price of $1,205.00. If the price breaks the level of $1,205.00 in a high volume and strong price action, we may see possible testing of the level of $1,216.00 (Fibonacci expansion 61.8%).

Trading recommendations:
I found trading range between the prices of $1,205.00 and $1,198.00. Wait for clear breakout with high volume to confirm further direction.




Reply With Quote
  #5  
Old 24-06-2015, 22:26
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Gold has been trading downwards. As we expected, the price tested the level of $1,170.18 in an ultra-high volume (selling climax). In the daily time frame, we can observe a bearish bar in a volume below the average. Our trading range between the levels of $1,205.00 and $1,198.00 was finally broken and caused a downward movement. Anyway, selling looks risky at this stage because we got major support around $1,168.88 - $1,162.00. According to the M30 time frame, we can observe a selling climax bar (ultra high volume bar) on our support level. Bullish correction is still possible. I had placed Fibonacci retracement to find potential resistance levels. I got Fibonacci retracement 38.2% at the level of $1,183.00, Fibonacci retracement 50% at $1,188.00, and Fibonacci retracement 61.8% at %1,192.00. The short-term trend is bearish. Watch for selling opportunities if the price breaks major support.

Trading recommendations:
Sellers are in control on the market. Be careful when buying gold. Watch for potential selling opportunities below the level of $1,163.00.




Reply With Quote
  #6  
Old 30-06-2015, 22:58
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Gold has been trading sideways around $1,175.00. We can observe a gap zone between the levels of $1,175.00 and $1,181.00. Our gap zone is broken since the price has tested the level of $1,171.00. I am waiting for stronger price actions and a larger volume. In the daily time frame, we can observe a bearish bar in a volume above the average. Selling looks risky at this stage, because we got major support around $1,168.88 - $1,162.00. I placed Fibonacci retracement to find potential resistance levels and got Fibonacci retracement 38.2% at the level of $1,183.00, Fibonacci retracement 50% at $1,188.00, and Fibonacci retracement 61.8% at %1,192.00. The short-term trend is bearish. Watch for selling opportunities if the price breaks major support.

Trading recommendations:
Be careful when selling gold since we can observe a strong suppot level around the price of of $1,162.00. Watch for selling opportunities just below the level of $1,162.00.




Reply With Quote
  #7  
Old 02-07-2015, 21:00
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Gold has been trading downwards. As we expected, the price tested the level of $1,159.05 in an average volume. Our support cluster around the price of $1,162.00 was finally broken. Buying looks risky at this stage, because major support at the price of $1,162.00 was broken. We may expect potential testing of the levels of $1,142.00 and $1,131.00 (swing lows). The short-term trend is bearish. Watch for selling opportunities after retracements.

Trading recommendations:
Be careful when buying gold since our strong support at the price of of $1,162.00 got broken. Watch for selling opportunities after retracements.




Reply With Quote
  #8  
Old 06-07-2015, 20:23
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Gold has been trading sideways around the price of $1,166.00. I am still awaiting a stronger price action and larger activity to confirm further direction. According to the H4 time frame, our support cluster around the price of $1,162.00 got broken but we can observe a pin bar, which is a sign of a weak breakout and potential fake breakout. Selling looks risky at this stage, because support at the price of $1,162.00 is still active. The short-term trend has changed from bearish to neutral. We got a new low at the price of $1,157.00. If the price breaks the level of $1,157.00 in a high volume, we may see possible testing of the level of $1,147.00. Otherwise, bullish phase is possible.

Trading recommendations:
Be careful when selling gold since our strong support at the price of of $1,162.00 is still active. We can observe indecision market. Wait for larger activity and stronger price action to confirm further direction.




Reply With Quote
  #9  
Old 08-07-2015, 15:41
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Gold has been trading downwards. The price has tested the level of $1,147.03 in an ultra high volume (selling climax). According to the daily time frame, we can observe selling climax (potential hidden buying) in the background. According to the H1 time frame, our support cluster around the price of $1,162.00 got broken in an ultra high volume. Also, we can observe strength near the price of $1,147.00, which is a sign that bullish correction is possible. The first resistance level is at the price of $1,159.00. If the price breaks the level of $1,159.00, we may see possible testing of the level of $1,163.00, $1,174.00. Selling looks risky at this stage because of the climatic action on the low. The short-term trend is bearish.

Trading recommendations:
Supply in an ultra high volume is in the background (selling climax). Be careful when selling around the price of $1,147.00 since the price created support there. Bullish phase is in progress. Watch for selling opportunities only if you see weak demand near resistance levels.




Reply With Quote
  #10  
Old 10-07-2015, 15:33
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Gold has been trading sideways around the level of $1,161.00. According to the daily time frame, we can observe neutral bar (indecision) in a volume above the average. According to the H1 time frame, we can observe a weak price action and lower volatility on the market. Selling still looks risky at this stage because of support at $1,157.00. There is a chance that the price will come back into our major trading rage between $1,162.00 and $1,231.00. The short-term trend is neutral.

Trading recommendations:
Indecision market. Be careful when selling around the level of $1,160.00 since we got support level around $1,157.00.




Reply With Quote
  #11  
Old 16-07-2015, 20:28
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Gold has been trading downwards. The price tested the level of $1,142.53. According to the daily time frame, we can observe weak bearish bar in a volume below the average. According to the H4 time frame, we can observe a weak price action and lower volatility on the market. Selling still looks risky at this stage because of support at $1,142.00 and $1,141.00. Our strong diagonal (support) trendline got broken but with very weak volume and price action. So, be careful about a fake breakout.

Trading recommendations:
Weak downward movement is on the market. Be careful when selling gold around the price of $1,140.00.




Reply With Quote
  #12  
Old 20-07-2015, 15:56
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Gold has been trading downwards. The price tested the level of $1,085.15. According to the daily time frame, we can observe a strong bearish bar in an ultra-high volume (selling climax). According to the H1 time frame, we can observe supply in an ultra-high volume. Since the price has broken support at $1,132.00, we may expect potential testing of the level of $1,035.00 (monthly support). Watch for potential selling opportunities after retracement. Selling climax is active so selling at this stage looks risky because of possible bullish correction.The resistance level is around the price of $1,118.00.

Trading recommendations:
Supply in an ultra-high volume is observed on the market. Watch for a potential selling after retracement




Reply With Quote
  #13  
Old 31-07-2015, 19:12
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. The price tested the level of $1,103.25. According to the daily time frame, we can observe weak demand and small real body. According to the H1 time frame, a fake breakout of our support level at $1,086.00 is taking place in the background. We can also observe volume spike (buying climax), which is a sign that there is strong buyers on the market The price got back into our trading range between the levels of $1,086.00 and $1,118.00. I placed Fibonacci retracement to find potential resistance levels and got Fibonacci retracement 38.2% at the level of $1,127.00, Fibonacci retracement at 50% at the price of $1,141.00, and Fibonacci retracement 61.8% at the level of $1,157.00.

Trading recommendations:
Be careful when selling gold at this stage since we have a fake breakout in the background.




Reply With Quote
  #14  
Old 07-08-2015, 18:25
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. The price tested the level of $1,094.70 in a high volume. According to the daily time frame, we can observe a weak small real body. I found a strong trading range between the prices of $1,077.00 (support) and $1,108.00. Selling gold around our support looks very risky and my advice is to watch for a potential breakout of the trading range to confirm further direction. According to the H1 time frame, we can observe weak supply in the background and buyers' response, which is a sign that selling gold looks risky at this stage. I have placed Fibonacci retracement from most recent upward leg in the M30 time frame. Fibonacci retracement 61.8% at the price of $1,090.00 is on the test. The trend is still neutral.

Trading recommendations:
Be careful when selling gold at this stage since the price is near our strong support. Watch for a breakout of our trading range to confirm further direction. Buyers are in control today.




Reply With Quote
  #15  
Old 14-08-2015, 20:57
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. As we expected, the price went to test the level of $1,112.33. According to the daily time frame, we can observe a bearish bar in a volume below the average. The price finaly broke our resistance at the level of $1,115.00. According to the H1 time frame, we can observe that our resistance at the price of $1,115.00 now acts like support. I found strong upward trendline and the price respected well that trendline, which is a sign that buyers are in control and that we may expect bullish movement. I placed Fibonacci retracement to find potential resistance levels. I got Fibonacci retracement 38.2% at the price of $1,127.00 (successfully held), Fibonacci retracement 50% at the price of $1,141.00, and the Fibonacci retracement 61.8% at the price of $1,157.00. According to Wyckoff analysis, we have strong accumulation and bottoming on gold, so watch only for buying opportunities on the dips (after bearish corrections).

Trading recommendations:
Be careful when selling gold at this stage. Watch for buying opportunites. Area around the price of $1,114.00 looks like very strong support and a good buy zone.




Reply With Quote
  #16  
Old 19-08-2015, 18:13
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. According to the daily time frame, we can observe a neutral bar (doji) in a volume below the average. According to the 30M time frame, we can observe a volume spike (buying climax) with a wide-range bar at the price of $1,121.00, which is a sign that buying gold at this stage looks risky. According to Wyckoff analysis, we have strong accumulation and bottoming on gold, so watch only for buying opportunities on the dips (after bearish corrections). Anyway, to confirm further bullish movement, the price needs to break the level of $1,122.70 in a high volume. Intraday looks very risky for buying but the short term got a large sign of strength in the background

Trading recommendations:
Be careful when buying gold at this stage. Intraday selling opportunities are preferable




Reply With Quote
  #17  
Old 21-08-2015, 22:00
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. As we expected, the price tested the level of $1,168.05. According to the daily time frame, we can observe demand in an average volume. I placed diagonal trendline and the price stoped extacly on the trendline. Our Fibonacci retracement 50% is at the price of $1,155.00. Anyway, Gold is still in a bullish trend and we have successful testing of a supply bar at the price of $1,149.00. Intraday and short-term frames are favoring buyers. So watch for buying opportunities on the dips

Trading recommendations:
Watch only for buying opportuntiies on the dips (after corrections).




Reply With Quote
  #18  
Old 27-08-2015, 20:30
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading downwards. As we had expected, the price tested the level of $1,117.58. According to the daily time frame, we can observe a strong supply bar in a high volume. Watch only for selling opportunities after retracement. Our support level at $1,125.00 is on the test. If the price breaks this support level, we will have the second support around the price of $1,111.00. In the background, we have a strong sign of weakness (supply came in), which is a sign that this can be a turning point in the mid-term prospect. According to today's price action in the H1 time frame, we saw that weakness has appeared.

Trading recommendations:
The strong sign of weakness is in the background. Watch only for selling opportunites after retracement





Reply With Quote
  #19  
Old 01-09-2015, 22:21
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. The price tested the level of $1,144.53. According to the daily time frame, we can observe a weak demand bar. Anyway, we saw weakness in Fridays's price action in the H1 time frame. We got a buying climax with the wide spread and supply coming in. Watch only for selling opportunities after retracement. Strong support is found at the level of $1,117.50. If the price breaks this support level, we will have the second support around $1,111.00. According to the H1 time frame, we can observe signs of weakness. We got no demand bars and potential buying climax.

Trading recommendations:
The strong sign of weakness is in the background. Watch only for selling opportunites after retracement




Reply With Quote
  #20  
Old 04-09-2015, 19:47
painofhell's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,180
Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of $1,122.67. According to the daily time frame, we can observe a weak supply bar (no-supply bar) in a volume below the average. Watch only for selling opportunities after retracement. Strong support is found at the level of $1,117.50. If the price breaks this support level, we will get the second support around $1,085.00. According to the H1 time frame, we can observe sign of weakness (supply coming in). Anyway, in the background we got a potential stopping volume with low at the price of $1,122.00. I would like to see a breakout of that area to confirm further downward. The trend is strong in favor of sellers so buying looks risky. Be careful of the news relases today and trade safe.

Trading recommendations:
There is weak demand today on the market but stopping volume from yesterday is still in the play at the price of $1,122.00.




Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are Off
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Daily technical analysis of EUR/JPY By INSTAFOREX painofhell Forex Analysis 346 15-12-2017 14:39
Daily technical analysis of EUR/NZD By INSTAFOREX painofhell Forex Analysis 309 15-12-2017 14:34
Daily Technical Analysis dailyfxanalysis Forex Analysis 10 15-05-2013 10:27
Technical Analysis (Update Daily) alhadi Forex Analysis 0 13-09-2012 09:26
Daily Technical Analysis for Majors FxTT Forex Analysis 0 01-03-2012 07:50

» Forex Ad
» Log in
User Name:

Password:

Not a member yet?
Register Now!
Powered by vBadvanced CMPS v3.2.1

All times are GMT. The time now is 17:45.


Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2017, vBulletin Solutions, Inc.