Gold – May 29th 2014

Should price action for Gold remain inside the 1,256 to 1,260 zone the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position @ 1,257
• Take Profit Zone: 1,294 – 1,300
• Stop Loss Level: 1,240

Should price action for Gold breakout above 1,260 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: 1,294 – 1,300
• Stop Loss Level: 1,240

Should price action for Gold breakdown below 1,256 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ 1,254
• Take Profit Zone: 1,242 – 1,247
• Stop Loss Level: 1,260

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

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