Good Morning Forex friends
Yesterday market moves exactly according to our expectations and our target 1108 has been hit , We get good move in last trade.
Now i am looking for next setup to jump in the market again.I am sharing charts of different time frame.
Gold is in short term correction mood and this correction might touch the support again around 1089-91.I am expecting a bounce again from 1089-91 and market next target will be 1111-1113.
Immediate support is at 1089-91 and the major trend rising support is become 1079-81 area. Movement and daily closing below this level will invalidate our bullish bias.
Today we might see some volatility in the market because Unemployment claims to be announce in evening.

Recommendations:

Buy From support 1089-91
Stoploss below 1080-79
Target 1111-1113

Alternate:
Sell after breaking the support level around 1080-79
Stoploss 1087
Target 1057

The trend longer term target remains the same 1145

Always trade with proper risk management and don’t risk more then 2% of your total capital.

Feel free to comment below if you have any concern regarding the charts and analysis.You feed back is always welcome

Wish you Happy trading

1 Hour Gold

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15 Mint Gold

Daily Gold

2 thoughts on “Gold Daily Analysis 21st January 2016”

  1. Charles Bidner says:

    Thank you Mati good stuff, was a successful trade for me, not huge but a winner all the same. Many thanks, I hope to continue to read you thoughts here.

    1. Thanks for your comment.Small winning and repeat winnings is the way to success in forex trading.
      You are always welcome

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