Gold – May 15th 2014
Gold – May 15th 2014
Written by: PaxForex analytics dept - Friday, 27 June 2014 0 comments
Should price action for Gold remain inside the 1,303 to 1,308 zone the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ 1,306
- Take Profit Zone: 1,276 – 1,282
- Stop Loss Level: 1,318
Should price action for Gold breakdown below 1,303 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
- Take Profit Zone: 1,276 – 1,282
- Stop Loss Level: 1,318
Should price action for Gold breakout above 1,308 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ 1,310
- Take Profit Zone: 1,320 – 1,324
- Stop Loss Level: 1,304
Open your PaxForex Trading Account now and add this commodity to your commodity portfolio.
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