How to trade this plan

1. Support and reisstance. Support(Lime area) and Resistance(Orange red area).
2. Develop a bias based on whether you are a Bull (enter at the green area) and Bears (enter at the red area). Not forgetting that previous support can be future reistance, and vice-versa.
3. Align stochastic cylcles of overbought or oversold on Weekly, Daily H4. Look at M15 and M5 for role reversal zones at support or reistance.

NB- Risk management is key.

Gold is at Monthly resistance indicating bear entry at 1332.50. Weekly chart stochastic is overbought with resistance at YR2 incating an area for bears to entr the market. Daily chart a double top and stochastics are oversold at MM2 though price might move up and retest MMP then retrace down. H4 chart stochastics indicate oversold at WS1 with a possible retest of WM2. There is no indication of higher high and continued strength of US Dollar. Until market indicates higher highs on H1 chart, the market remains bearish.

*Trade at own discretion

2 thoughts on “GOLD Long term Sell 31082016”

  1. I have them saved but when I previewed the post they were not added. The site kept saying ” You have no permission to edit/save”. I gave up on this site. it has been good. You cant delete or edit the post. I have tried and this is the seocnd time. view the first it was USDCAD post and now Gold post. I do have pics.

Leave a Reply