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Daily Gold Analysis 15th March 2016

Gold Forecast

Daily Gold Analysis 15th March 2016

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Good Afternoon Gold Riders

Yesterday analysis we were expected to jump in the market after the break.We are in a trade with some positive points.Today i am sharing different time frame analysis to predict possible next move with invalidation levels.

Daily Time Frame Analysis

Yesterday closing in daily time frame indicating more down movement.Market  give a new low at 1224-25 area.It was the minor support , Movement below 1224 will give more confidence to our bearish thoughts, Our first target remains the same 1211-13 and 1191-93 in extension.Movement and closing above 1255 in daily time frame will invalidate our bearish point of view.I mention the minor support and resistance area in the chart below.

 

Daily Time Frame Analysis

1 Hour Time Frame Analysis

After breaking the yesterday support, Now the support become resistance for sellers.Current market price is at 1234-35 , I am expecting little bit more correction before market gives a new low.This correction may end at 1239-45 area and then we  may see a new dip with target 1211-13.Movement and closing above the resistance will invalidate the analysis.Please adjust your stop loss accordingly.

 

Alternate :

If price break the resistance and close above 1245-55 area in daily time frame chart.We will change our bearish thoughts to bullish and may look to buy after breaking the resistance with target 1271-73 and 1285-87 in extension.

Dont risk more then 1% of you total account in single trade.Adjust your stoploss and lotsizes according to proper money management rule.

Your comment below regarding analysis and charts will be appreciated.

Wish you best of luck

Mati Ur Rehman

Gold Analyst @ dailygoldanalysis.com

1 Hour Time Frame Analysis

Mati

Mati Ur Rehman is a forex trader having 11 years experience in the field and knows as a technical analyst. He is an expert in XAUUSD Gold Analysis.

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6 Comments

  1. Malik March 15, 2016

    What is your trading recommendations like stop loss, target price etc

    Reply
  2. Mati Ur Rehman March 15, 2016

    I mention the target 1211-15 and the stoploss above the resistance that was previous support

    Reply
  3. amir March 15, 2016

    grt wrk brother keep it up

    Reply
  4. Mati Ur Rehman March 15, 2016

    Thanks Amir

    Reply
  5. Shahbaz March 15, 2016

    Masha Allah. This is exactly what I analyzed. Keep up the good work brother!

    Reply
    1. Mati Ur Rehman March 15, 2016

      Thanks Shahbaz…I am also in process of setting up a section in which you people can share your ideas as well…So that we can learn together

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