Daily Trading Strategies on Gold/Forex

according to some of my indicators, it is showing a clear downtrend with some strength.

it is clearly breaking out from symmetrical triangle to the downside. all my indicators are confirming the direction of breakout.

moving above 632-634 will invalidate the current downtrend for short term.

we will only know if it is going to be right or wrong after sometime later. so, let's watch the price action.

good luck

gt
 

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I clearly agree, its moving under all the moving average lines and i do believe it will target 600 before we get some buy back.

I sold at 626.7 and at the moment. theres small profit. I may set a tight stop if the CPI does show inflation, but i will most definately sell on amy rally.
 
yes, it is good. when most of systems confirm each other, that normally generates strong signals.

some of the fundamentals would be supporting gold to buy. but technically gold is weak. so, if we are technical traders, just follow some rules with reasonable stops, we will be rewarded well or lose a little.

good luck

gt
 
i am seeing that gold is forming a rounded bottom and it could lead to cup and handle.

there is a possible breakout to the upside if it is a classic c/h.

long above 634
stop 630

short below 626
stop 631

current price - 631

good luck

gt
 
TOCOM is limit down, but i do expect some buyback.
My target was preliminary 602 but i think its possible to go up to 620 again or even more......before a pullback.

The Daily charts show a lot of weakness.

Look for short if up to 632 again

and short at 609 if it breaks below to target 602.
 
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