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Trading Signal - 28/08/2015 - 10:00 (GMT +3)
Instrument: GOLDby: Chief Technical Strategist Avramis Despotis
Previous Close 1131
Change 0.60 %
Current 1131
52 Week High 1299
52 Week Low 1086
30 Days ATR 12
40 Weeks ATR 28
Time Trend & Condition Support &Resistances Comments Position & Trade
ProbabilityEntry, Take Profit &Stop Loss Levels
60minCHART
·Next 3Days
Upwards Strong·
Overbought 1
1116 1133
1106 1144
1099 1156
Waiting for the upward break of1133 resistance level, which willcomplete a bullish trend reversalpattern to go LONG. Only thedownward break of 1116 wouldcancel the bullish scenario and takeus SHORT.
Position Entry SL
BUY 1133 1116
Trade P. TP1 TP2
Medium 1144 1156
240minCHART
·Next 3Weeks
Upwards Weak·
Neutral
1117 1170
1100 1192
1082 1229
A Medium probability, entry signalto go LONG will be given with theupward break of 1133 after themarket found support at 1117. Onlythe downward break of 1117 wouldcancel the bullish scenario and takeus SHORT.
Position Entry SL
BUY 1133 1117
Trade P. TP1 TP2
Medium 1192 1229
DailyCHART
·Next 3Months
Upwards Weak·
Neutral
1071 1170
1037 1202
982 12354
A High probability, entry signal to goSHORT was given at 1133 after themarket found resistance at 1170.Only the upward break of 1170would cancel the bearish scenarioand take us LONG.
Position Entry SL
SHORT 1133 1170
Trade P. TP1 TP2
High 1037 982
Legal Disclaimer: All trading signals provided are general recommendations. They have not been prepared in accordance with the requirements designed to promote the independence ofinvestment research.
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