Gold Trading Strategy for 3rd February 2015 (Today) | Technical Graph showing Movement toward Long Position
Dear Forex & Metal (MCX) Traders. As you know well that without proper trading analysis , it’s very tough to succeed in Trading arena . Our endeavor is to share most probable trading prospect in Forex/currency pairs and metal (mainly yellow metal) by collecting good data from web. With the help of Instaforex MT5 trading analysis group, we like to share GOLD trading analysis chart for today (3/2/2015) and so on. Look up above chart image. It’s properly showing that Gold counter moving upward its support level 1245.00.
Our recommendation is just hold Gold for long (hold BUY position) for the initial target of 1340 (long term) with STOP LOSS 1245.00. The mention TARGET determined after long analysis by Instaforex Group. Actually the GOLD counter dropped yesterday at 1265 level then it rallying higher back toward 1285+ . So it bigger possibility is that it will cross 1300 points very soon and will go toward it long tern resistance zone. Main resistance seen in 1297, 1307 and higher respectively. Collect short term profit within 1300 zone.
Remember, Forex trading is subject to market risk. So trade with your own risk. We only sharing the probable movements. Best of Luck ! Trade with STOP LOSS to minimize your Trading Loss. Like our Facebook Page to connect with us always. Good Day !