GOLD 20.10.2016 H4 графика.
Mid term uptrend and correction to 38.2 Fibonacci.
Double bottom formation above horizontal support and the base line is broken.
Price above horizontal and diagonal supports.
Techncial indicators:
Price above 50SMA - positive signal
Entry after correction to 1265, which is likele as market is in overbought zone.
Sentiment: Expectations for a rate hike in USA at the FED December meeting supports the precious metal price.
SL 1255
Alternative scenario: If price goes back below the base line of the double bottom formation this will cancel the positive scenario.
Jr. Trader Nikolay Georgiev
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.