Gold – November 6th 2014

Gold – November 6th 2014

Written by: PaxForex analytics dept - Thursday, 06 November 2014 0 comments


Should price action for Gold remain inside the 1,140 and 1,150 zone the following trade set-up is recommended:

  • Timeframe: H4
  • Recommendation: Long Position
  • Entry Level: Long Position @ 1,145
  • Take Profit Zone: 1,240 – 1,250
  • Stop Loss Level: 1,100

Should price action for Gold breakout above 1,150 the following trade set-up is recommended:

  • Timeframe: H4
  • Recommendation: Long Position
  • Entry Level: Long Position @ Retracements in the trend; buy orders during dips
  • Take Profit Zone: 1,240 – 1,250
  • Stop Loss Level: 1,100

Should price action for Gold breakdown below 1,140 the following trade set-up is recommended:

  • Timeframe: H4
  • Recommendation: Short Position
  • Entry Level: Short Position @ 1,130
  • Take Profit Zone: 1,100 – 1,105
  • Stop Loss Level: 1,140

Open your PaxForex Trading Account now and add this commodity to your commodity portfolio.