empty
 
 
22.10.2012 12:10 PM
Gold Bounces From 0.382 Fibonacci Support

This image is no longer relevant

 

Technical Outlook and Chart Setups:

 

Taking overview of the last two trading weeks again, we can come to the following conclusions:
1. Long-term trend remains intact i.e. bullish.
2. We are in the possible wave 4 retracement within the 5 waves.
3. In spite of the fact that we have been stopped out twice last week, buying on dips is still favorable.
4. The above depiction is further addition to it since prices have shown an Engulfing Bullish Signal at the 0.382 Fibonacci support level.
5. 1,685.00 level is strong support now, while sub 1,750.00 level is resistance.

 

Trading Recommendations:

Buy now around 1,722-1,725. Stop at 1,680. Target fresh highs.

 

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback