Free Forex And Gold Signals

Good day traders!

Gold Daily

Technically;

1. I use moving averages to track trends and eventually to generate entry signals on dips and rallies.
2. On the above chart, I used three EMAs; 50, 100 and 200 on a daily chart.
3. Use as a trend, the three EMAs are still on the proper order to the upside; although the 50EMA have shown some tendency to cross the 100EMA. But it ain’t happen yet, so its still bull on the card.
4. What’s more important is that the price have already break the 200EMA and this can only mean two things; first its the end of the bull and the start of the bear OR its going to find its way back above the 200EMA which is by now at $1620.55.
5. EMA has always been a good support since gold being traded. The only time the 50 crosses the 100EMA is in October 2006, where eventually an inverse head and shoulder pattern took over and its bullish since.
6. It’s become more interesting in Weekly chart:

Gold Weekly

1. Price had already used 50EMA as a support line and by end of the week, a potential morning doji star pattern would occur.
2. 100 and 200 EMA? well, they are seems to far to good.
3. Supports are found at $1582, $1560, $1532, psycho level $1500 and key support at $1478. Below that….ermmm I don’t even want to think about it.
4. Resistances are found at psycho level $1600, $1623, $1650, $1680 and psycho level $1700. Ending the month above $1700 would signal more confidence in bull.

Happy piping!

Shufaad

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Trading Philosophy

“The biggest mistake that you can make is to believe that you are working for somebody else. Job security is gone. The driving force of a career must come from the individual. Remember: Jobs are owned by the company, you own your career!”

— Earl Nightingale: was an American motivational speaker and author

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