Good Evening Gold Lovers
We were not able to post morning analysis because of internet issues.
In our yesterday analysis we were expecting bounce from first support 1270-71 and 1251-55 in extension.Market move down and broke first support.Current market price is 1263-64.We are expecting more downward movement before a bounce.Next and final bearish target is 1251-55, which is also the support of rising channel that was forming since last few days.We will go long from the support with first target 1270 and 1281 in extension.Daily closing below 1249-51 will invalidate the rising channel and may change our thoughts from bullish to bearish for next move.I am sharing 4 hour time frame chart below with possible buying area , target and invalidation points.Please have a look.
4 Hour Gold Chart
Note : Never risk more then 2% of your account capital in single trade.Always trade with proper risk management plan.
Site Announcement And Updates
We are also starting video analysis soon.We are working to make quality videos to give better understanding of our analysis.Our team is working to start education session very soon for beginners to understand the Forex basics.Those who want pro Forex technical analysis course can contact us via email.
Trade Recommendations : Those who want our trade recommendations with proper entry and target points may contact us via email.We have set our minimum fees for the paid clients.
( We already set some pending orders for possible next move )
Forex Education : Those who want to learn forex technical analysis can contact us via email.We will start our skype classes session for interested members.
Email : email@example.com
Skype : mati_ji
Feel free to comment below if you have any concern regarding charts and analysis.Your feedback is always welcome and help us to improve.
Wish you good luck and happy trading
Mati Ur Rehman
Gold Analyst @ dailygoldanalysis.com