In Daily chart and gold was bounce back from key support level 1247 and now gold trading near key resistance line 1270 level, so we can sell near 1170 levels and new support was forming at the level of 1150 :- we have shown in above image.
Technical Commentary: In Weekly chart :- 1.gold was broken lower trend line, 2 last week closed below lower trend line 3.Still trading below last week low and major key support level
In 4 hours chart, Gold was trading in Equidistance channel lines and reached lower channel line so we can except some correction upto next key resistance level, so we can sell near key resistance line with stoploss above 1190 level :- we have shown in above image.
In 1 hour chart, Gold was trading in the equidistant lines and broked the key resistance level of upper trend line @ 1165 level:- we have shown in above image.
| PIPS COUNTER - SINCE JANUARY 2013 | ||
| Total Trades | Total Pips | |
| EUR / USD | 1135 | 10130 |
| GBP / USD | 1054 | 10550 |
| USD / CHF | 907 | 8945 |
| EUR / JPY | 818 | 10435 |
| XAU / USD | 1156 | 207955 |
| TOTAL: 248015 | ||
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