Based on the pattern prevailing in gold March 11, it is clear that the price is not able to continue the downward movement and returned to the area above the moving average. Senior channel pointing up, indicating that the upward direction of the global trend. Low channel also sent up, which means upward direction and in the medium term. At the moment the price is above the moving average and higher than Murray "5/8", which tells us about the upward direction of movement in the short term. The first purpose of the upward movement, so is the level of Murray "7/8"- 1359.38. If this level of price overcomes Murray, the new Target will be the level of Murray "8/8"- 1375.00. The moving average is pointing to the side, and the price is above it, so now more likely upward movement in the coming days. Heiken Ashi bars painted last in purple color, which indicates the local upward motion, so to turn the indicator down, which would mean the beginning of the corrective movement, long position can be maintained. Sell orders can be considered no earlier than fixing prices below the moving average, and turn down any channel. The CCI indicator is about the level of 100, indicating that the presence of a weak instrument overbought.
Based on the analysis of the exchange rate of gold, we can conclude that longs now advised to consider the purpose of 1359.38. If the price will overcome this level, the new purpose will be 1375.00. Stop level is recommended to place below the moving average, and as his rise up and carry stop loss. With the passage of 1500-2000 points stop loss can be moved to a zero level. Manually close long positions recommended in the case of color bars 1-2 (depending on size) in blue Heiken Ashi indicator or when fixing prices below the moving average. T/P can be placed just below the nearest Murray levels. Sell orders now considered not recommended.
No comments:
Post a Comment