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Sunday, 24 January 2010 02:32
Trading Entry and Exit Analysis
GOLD
Comment
Gold
multi week correction should be near completion since Wave c was
approaching its minimum target following by bearish oversold in daily
oscillator. The 4 hourly chart oscillator were ready to performs a
bullish reversal. Wave C, itself, was subdivide into 5 wave. Amazingly
both of wave C (Major) and wave 5 (minor) target are meet by
coincidental. This indicates that area will be a significant support
for short term. Traders should consider to exit last week short
position to protect their profit and switch to long trade, when price
and time meet for reversal.
Price will climb for wave 4 then
continue fall to finish wave 5 target. It will take at least 3-4 days
to reach wave 5 target. The highest probability trading come up with
wave 5 low target.
(Click the picture to open the original size)
System
ASTRONACCI © Trading System by Stocksforliving Indonesia,Ltd
Momentum
Bearish
Oversold oscillator in daily meet with bullish reversal on intraday
time frame will make trend sideway to up for the next few days.
Pattern
Wave C was subdivided into 5 waves, and now should be ready to climb for wave 4
(minor).
Price
Wave
4 corrective high target is approximately at 1.114-1.116 and the end of
wave 5 target sharply at minimum target of wave C ( Major ) at 1.062 -
1.067.
Trading Advises
Go long at the end of wave 5 and C, ignore wave 4 corrective high target.
Analyst Certification:
The
views expressed in this research report accurately reflect the
analyst’s personal views about any and all of the subject securities or
issuers; and no part of the research analyst’s compensation was, is,
or, will be, directly, indirectlyrelated to the specific
recommendations or views expressed in the report.
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