My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
Time to buy Gold (our newsletter posted on 11.06.2014) http://eepurl.com/W1t91Posted in All By blogadmin On June 16, 2014After weeks of taking short positions in Gold, is it finally that we can buy it? Well, lets open our charts or just click on the image to expand and we see that there is a bullish daily chart! There is a gap down opening when the future expired and hence the question arises, will the gap close? The MACD, where bulls are stronger this time, ticked higher yesterday and one should have bought when there was a candlestick pattern, hammer in the daily chart. The risk-reward to trade gold at 25900 was way too good. Even if the gap analysis is to be done along with your daily EMA to be considered as a resistance, one could go long with a 100 point stop for a target of 600 points. 1:6!!25400 and near points are double bottoms for the chart and one should expect the Gold to rise on a pure technical point of view!
This charts can clearly explain the all position.I am using this chart in trading.Free Comex Tips