Trade Alerts by Fibonacci - 05 Oct 2011 (23:30 pm)

	Entry Point	Key Level	Projection	Stop Loss
Gold	1626.5 (Buy)	1622.4, 1629.1, 1630.7	1655.4	1615.5

Gold Chart (5min) - Analysis time: 23:30 pm

Commentary
Fibonacci Analysis on a 5min Gold Chart. I will buy near 1626.5 and place my stops below 1615.5. Also observing the support at key levels. I expect the market to bounce from our entry level. I will also be looking at the 4hour Gold Chart levels from earlier post as they are still intact. Thanks!



Update:

Gold Chart (5min) - Update time: 18:14 pm

Commentary
The market has finally retraced to our entry level of 1626.5 and I will now use my indicators to make a decision to buy. Lets see how the market behaves. I will be posting the result soon.


Result:

Gold Chart (5min) - Result time: 00:15

Commentary
The market did bounced from our entry level at 1626.5. Going long at this point and coming out around 1640 was a good trade. Our levels on 4hour Gold Chart as posted earlier are still intact. Will be posting more trade alerts soon!