look to buy possible support at 1667 and 1650/49 alt - look for breakout of 1692.6, its a level of S&R and believe a break above this level could produce a nice rally.
The gbpusd came up to its 2013 open and tested it as resistance. Price has not closed for the day over this level for 2013 to date. My plan is to trade this off the daily, with a stop right above the 2012 highs. If price closes above this level on a daily close I will not enter this trade.
1690 50 4hr mva up to 1695 resistance zone. Break above price could go higher, holds as resistance believe todays lows could be tested
Sell rally at signs of resistance aound 50% / 61.8 fibs at 1311 - 1317. Price could also pull back to former support TL (red) and try to test it as resistance.
Waiting for price to come down to gap fill thats also at daily TL and level of S&R to buy . Thinking 1.33000 but price could wick down to 1.32500
To be very honest, with the US debt ceiling I am sitting on the sidelines with gold because if can go either way and fast. I do not want to be caught on the wrong side of a trade over the US debt ceiling with political statements coming out of Washington. Price seems to be in a triangle and I prefer to trade the breakout in either direction it goes.
Will wait for price to come to me at 50% fib thats if it gets there to buy. If price breaks out to the downside will look to short.
Waiting for price to come to me for a buy if I see support at 97.750 Level of S&R daily TL and 50% fib. Other level that interests me is 95.430 78.6% fib and 200 day ema if there is a break of 97.750
happy trading remember I could be 100% wrong
Gold looks like it wants to go higher. Remember, I could be 100% wrong.
breakof resistance of 1329 could now be tested as support
Gold should bounce off the 1305-1307 level off a measured move of triangle breakout and 50% fib from june low to august high. Strong daily close below this level and price could head down to the 61.8 fib at 1277
Bernanke said on wednesday the FED was not going to taper and would continue QE. Gold immediately spiked right into resistance trapping any one who bought at the top of the range. This was a classic break of channel/support and price comes back to test it as resistance along with the upper trendline and 1373 S&R level. Any rallies back up to the top channel is a...
Despite Thursday's and Friday's sell off the SPX is still in a bullish up trend. Key levels to watch for -1729 if price can have a strong daily close above this level it could indicate higher prices to come, possibly even targeting the gann 1/4 - 1630 May's close has been a key level for support and resistance, a break under 1630 could indicate a correction - 1549...