Day trading strategies on currency pair GOLD 20-07-2016 by AzaForex forex broker, simple and proven steps for forex success

Follow these simple techniques for expert trading on the foreign exchange market.
Rate of Gold is in an uptrend, if we look at the daily charts the movement of the precious metal. A few days after the growth peak of Gold is in sideways, and even tried a little bit to improve their position in the Forex market. Even if you hold the support line of the lows on the hourly time interval it is clearly seen that the trend is growing and there is a correction. But at the same time, if you go to market and sell Gold for speculative transactions are not large, carefully, not too long in position, you can not take a big hit and make some money. If something goes wrong, we do not wake up to take on risks not justified and immediately close the position. The figure on the chart is very similar, known to all as the head and shoulders. Therefore, with all the precautions we open a short position, as soon as the commodity market futures give us that opportunity.
 
The price is below a simple moving average 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.
 
If the support level is broken you can use the following recommendation:
•             Chart timeframe: H4
•             The trade recommendation: Sell
•             The level of entry into short position 1320
•             The level of profit and close the position: 1310 (1000 pips)
 
 
Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.3060
 
Forex currency pair EURUSD
Possible bearish movement in the breakdown of the support level 1.0980
 
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 106.70
 
Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9900