Thursday, September 27, 2012


Gold on 27 Sep 2012

4H chart
Green line is EMA50 which is the guide line i normally use to identify support/ resistance.

Last done $1756 and it seems market shifted from bullish to correction phase.

This green line which hover around $1760 has turned from support to resistance.

Above is gold 1H chart and u might identify the similar pattern - market is capped below 1760.

I hv entered a short at market ($1756). Looking forward to the south train below 1740.

1 comment:

  1. Hi there Ayumi,

    I also watch the gold movement closely. It seems that the 1,800 provide a strong resistance for it is already tested three times.

    According to the MACD (I use the setting of 5,13 and 1), it advised to wait until the round top formation to be completed.

    However, just like you. I prefer to go short.

    Good luck dear