Gold – October 30th 2014

Gold – October 30th 2014

Written by: PaxForex analytics dept - Thursday, 30 October 2014 0 comments


Should price action for Gold remain inside the 1,209 to 1,213 zone the following trade set-up is recommended:

  • Timeframe: H1
  • Recommendation: Long Position
  • Entry Level: Long Position @ 1,211
  • Take Profit Zone: 1,250 – 1,254
  • Stop Loss Level: 1,192

Should price action for Gold breakout above 1,213 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: 1,250 – 1,254
  • Stop Loss Level: 1,192

Should price action for Gold breakdown below 1,209 the following trade set-up is recommended:

  • Timeframe: H4
  • Recommendation: Short Position
  • Entry Level: Short Position @ 1,208
  • Take Profit Zone: 1,188 – 1,192
  • Stop Loss Level: 1,218

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