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Quote:
Originally Posted by Egwig
I have only ever traded FX.
Is there a recommended broker/platform for trading gold etc?
Egwig  |
Gold's recovery stalled after hitting 38.2% retracement of 1227.5 to 1075.2 at 1133.4 and with 4 hours MACD crossed below signal line, intraday bias is turned neutral. With 1115.9 minor support intact, another rise cannot be ruled out and above 1141 will target 61.8% retracement at 1169.3 next. On the downside, however, break of 1115.9 minor support will argue that recovery from 1075.2 might have completed and will flip intraday bias back to the downside for retesting this support.
In the bigger picture, rise from 681 is expected to develop into a set of five wave sequence with first wave completed at 1007.7, second wave triangle consolidation completed at 931.3. Rise from 931.3 is treated as the third wave and has possibly completed at 1227.5 after missing 100% projection of 681 to 1007.7 from 931.3 at 1258. Deeper pull back could now be seen to 1026.9/1072 support zone, or even further to retest 1000 psychological level. But downside should be contained well above 931.3 support and bring up trend resumption to another high above 1227.5.[oilngold]
"P&F
GOLD240 Box Size1780X3 or(5.6%) HI/LO
Data 1226.37 - 681.4 ~
16 Month ~ 476.5 Day
Database 2011 records [COLOR="DarkOrange"]1122.27 (Last Close)[/COLOR]
[COLOR="Blue"]2008-09-19 00~00
2010-01-08 12~00[/COLOR] (GMT+01:00) Paris
BJF Trading Group chart"
1228.20|~1780||___________________________________ _________|-0.15%|80.25%
1210.40|~3560||___________________________________ ___x_o___|1.3%|77.63%
1192.60|~5340||__________________________________x ___x_o___|2.75%|75.02%
1174.80|~7120||__________________________________x _o_x_o___|4.21%|72.41%
1157.00|~89O0||__________________________________x _o_x_o___|5.66%|69.8%
1139.20|~1O680|__________________________________x _o___o_x_|7.11%|67.19%
1121.40|~12460|__________________________________x _____o_x_|8.56%|64.57%
1103.60|~14240|__________________________________x _____o_x_|10.01%|61.96%
1085.80|~16O20|__________________________________x _____o___|11.46%|59.35%
1068.00|~178O0|__________________________________x _________|12.91%|56.74%
1050.20|~19580|__________________________________x _________|14.37%|54.12%
1032.40|~21360|__________________________________x _________|15.82%|51.51%
1014.60|~23140|__________________________________x _________|17.27%|48.9%
996.80|~24920||______________________x___________x _________|18.72%|46.29%
979.00|~267O0||______________________x_o_____x___x _________|20.17%|43.67%
961.20|~28480||______________________x_o_x___x_o_x _________|21.62%|41.06%
943.40|~3O260||______________________x_o_x_o_x_o_x _________|23.07%|38.45%
925.60|~32O40||______x_______________x_o_x_o_x_o_x _________|24.53%|35.84%
907.80|~33820||__x___x_o_____________x_o_x_o_x_o__ _________|25.98%|33.23%
890.00|~356O0||__x_o_x_o_____________x_o___o_x____ _________|27.43%|30.61%
872.20|~37380||__x_o_x_o_________x___x_____o______ _________|28.88%|28%
854.40|~39160||__x_o_x_o_________x_o_x____________ _________|30.33%|25.39%
836.60|~4O940||o___o___o_________x_o_x____________ _________|31.78%|22.78%
818.80|~42720||o_______o_____x___x_o______________ _________|33.23%|20.16%
801.00|~445O0||________o_____x_o_x________________ _________|34.69%|17.55%
783.20|~46280||________o_____x_o_x________________ _________|36.14%|14.94%
765.40|~48O60||________o_x___x_o_x________________ _________|37.59%|12.33%
747.60|~49840||________o_x_o_x_o__________________ _________|39.04%|9.72%
729.80|~51620||________o_x_o_x____________________ _________|40.49%|7.1%
712.00|~534O0||________o_x_o______________________ _________|41.94%|4.49%
694.20|~55180||________o__________________________ _________|43.39%|1.88%
676.40|~56960||___________________________________ _________|44.85%|-0.73%
Column|~58740||2_4_4_5_134_3_6_4_7_3_106_4_5_6_4_1 63_4_8_3_|
Count
BJF-Trading-Group-GOLD_30min
