Thursday, April 10, 2014

Trading Week: April 10th: Gold

Thurs 10th April (3.20 pm)

Gold: I don't trade Gold through Forex but rather through stocks and options. I do note any new TS signals on both Gold and Silver from my Forex charts though. I have just received a new TS signal to 'long' Gold off my 3 pm chart:

Gold 4 hr: a new signal here BUT price still trading within a rising tend channel:

Gold Ichimoku:  Gold is trading above the Cloud on the 4hr chart and looks set to emerge from the daily chart. I would prefer to see a daily candle close above the daily Cloud before being confident with this signal here though. There is also looming resistance in the form of the weekly and monthly Clouds just above or near current price.

Gold 4 hr Cloud: price above the Cloud:

Gold daily Cloud: price looks set to emerge from the Cloud but best to wait to confirm:

Gold weekly Cloud: The bottom of the weekly Cloud is above current price and could pose some resistance:

Gold monthly Cloud: Gold is trading in the bottom of the monthly Cloud and this could make any upward progress a bit more challenging:

I will keep track of this signal here though.

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