XAUUSD GOLD Forecast and Trade Idea for January 2015
Sorry using charts from Trading view without my support levels
Monthly Chart
- Ichimoku Break on the Monthly is a strong indication that further weaknesses is expected in the long term view
Weekly Chart
- Weekly is showing some exhaustion in selling, as buyers a coming back in
- Any closes above the 1200, is a good indication that buyers are in control and I shall be targeting around the 1280-90 as the potential area where sellers will jump back in for new lows
- Weekly is showing some exhaustion in selling, as buyers a coming back in
- Any closes above the 1200, is a good indication that buyers are in control and I shall be targeting around the 1280-90 as the potential area where sellers will jump back in for new lows
Daily Chart
- We identified the Ichimoku break on the daily chart, so we may see a correction
Outlook Trade opportunity
At these levels, and because of the Daily buy signal, for short to medium term trade, I would suggest taking Longs with targets around initially 1250 then on towards 1280-90.Would short at 1280-90 if it gets there targetting near lows and possibly continued further losses onto new lows