Gold – September 24th 2014

Should price action for Gold remain inside the 1,221 to 1,225 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1,223
• Take Profit Zone: 1,310 – 1,314
• Stop Loss Level: 1,193

Should price action for Gold breakout above 1,225 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ Retracements in the trend; buy orders during dips
• Take Profit Zone: 1,310 – 1,314
• Stop Loss Level: 1,193

Should price action for Gold breakdown below 1,221 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1,220
• Take Profit Zone: 1,182 – 1,186
• Stop Loss Level: 1,241

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

You may also be interested in reading the following posts:

• USDCHF – September 23rd 2014
• EURUSD – September 22nd 2014
• PaxForex holds Positions
• Oil continues to frighten with its prices
• Geopolitics Influence on the Forex Market