Gold Intraday: capped by a negative trend line.

Short positions below 1270 with targets @ 1239 & 1222 in extension. ( 21/11/2013 07:49 )
Gold Intraday: capped by a negative trend line.

Pivot: 1270

Our preference: Short positions below 1270 with targets @ 1239 & 1222 in extension.

Alternative scenario: Above 1270 look for further upside with 1279 & 1286 as targets.

Comment: the break below 1270 is a negative signal that has opened a path to 1239.

Supports and resistances:

1286

1279

1270

1247.5 Last

1239

1222

1209

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Never risk more than 2-3% of the total trading forex account One important difference between a successful and an unsuccessful forex trader in forex Market is that the first is able to survive under unfavorable conditions on the forex market, while an unsuccessful forex trader will blow up his account after 5-10 unprofitable trades in the row.

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Forex Trading Technical Analysis

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