| Entry Point | Key Level | Projection | Stop Loss | |
|---|---|---|---|---|
| Gold | 1709.1 (Buy) | 1705.9, 1713.1 | 1745.8 | 1702.6 |
Gold Chart (15min) - Analysis time: 23:10 pm
Commentary
A Fibonacci Analysis on 15min Gold Chart. Gives us an enty point at 1709.1, looking to go long here. Also observing the key levels. Will be placing the stops beyond 1702.6. Projection of 1745.8. Lets see how the market reacts.
Result:
Gold Chart (15min) - Result (30 Nov 2011 time: 23:50 pm)
Commentary
The market broke all our levels and bounced from 1702.6 as you can see on the chart above (blue circle), going straight up to our projection level. A good trade if you had observed the market between 1710 and 1702. Going long at 1702 would have been an ideal trade. Will be posting more trades soon.
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