Day Trading Recommendation for Majors as on 29-08-2014

Dollar Index:

Dollar index was overbought since last couple of days. yesterday candle closed with no results, and make a spinning top. Today candle is still bullish and h1 candle is indicating bullish sentiments duo to Ichimoku support.

Gold:

Gold prices moving between small gain and losses in early Asian Session placed high 1290.97. Yesterday, gold placed high 1296.32 but strongly consolidating by the SMA200 in d1 graph. The yellow metal is strongly supported by Bollinger bands. The yellow metal is trying to cross the SMA100 in d1 graph but unable. Today, it seems that gold will cross this resistance because in h1 graph, candle has crossed SMA100 and consolidating below SMA200. 

1st Entry;

buy above 1286 TP 1298, SL 1280 sell stop 1279

2nd Entry;

sell limit 1298 TP 1285 Sl 1304 Buy stop 1305

Supports:
S1 1282.1733
S2 1274.9867
S3 1267.9133

Resistance:
R1 1296.4333
R2 1303.5067
R3 1310.6933

GBPUSD:

 Strong bullish sentiments are found above the price level 1.6565, the low of 4th April and Feb 2014. Fibonacci Retracement is indicating 1.6696 level. Great British pound was under a great selling pressure since 7 weeks but now its a time to profit taking and long this pair. The current rate is above than the daily Pivot level.

Buy above 1.6580 TP 1.6610/35 Sl 1.6545 sell stop 1.6540.

EURUSD:

This pair is under a great selling pressure and it seems that it will test 1.2755, the low 7th july, 2013 soon. In weekly graph Ichimoku cloud signal is strongly bearish. This trade is not for one day. Hold this trade for one month at least. 

sell near 1.3195 SL 1.3245 TP 1.2850 

Views: 430

Comment by Usman Ali on August 29, 2014 at 2:22pm

HOW WAS THE TODAY TRADES ??

Comment by alexp on August 29, 2014 at 3:49pm
thank you. got a bit profit on gbp
Comment by Usman Ali on August 29, 2014 at 4:08pm

H miss super kitty, Today EU stop loss not hit best of luck......

Comment by Syed Mustafa Shah on August 31, 2014 at 1:23pm

Salam brother, Recently i asked about UFX, through some means it was clear that is a fraudulent company based in Israel. Thanks God and you that i did not invest with them, I have some speculation, that some article say Forex is a zero sum game,  http://en.wikipedia.org/wiki/Foreign_exchange_fraud . This article further testify. First your comment on that, second how you trade or with whom you trade, as it is very difficult for me to determine who is real and who is fraud. I will really appreciate your good insight to it being my countryman.

Comment by Syed Mustafa Shah on August 31, 2014 at 1:29pm

I am a Pharmacist working in Saudi Arabia.

Comment by Usman Ali on September 4, 2014 at 4:00pm

Hy Friends are you enjoying my Trade on EURUSD, which I recommended on 29th August and told you to hold this trade.

Comment by Shorty on September 4, 2014 at 4:42pm

still holding shorts from 1.3188

Thanks to you

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