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Intraday commentary on patterns

GOLD Three Inside Down Hourly Chart

Tue, Jul 31 2012, 12:07 GMT
by Mark De La Paz | FX Instructor

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Resistance: 1627.78 moderate/1632.72 minor/1639.68 minor

Support: 1620.82 strong/1615.88 moderate/1608.92 minor

GOLD is generally bullish with a high level bearish reversal pattern Three Inside Down in Hourly charts just above a strong support level at 1620.82, the Pivot Point. Look to sell on a push under 1620.82 with stop losses just above the Three Inside Down high. Our immediate objective is 1615.88 break of which may see us dropping to 1608.92.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices

Published On Tue, Jul 31 2012, 12:15 GMT Previous entries

Mark De La Paz

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Mark's interest in financial markets has been an ongoing affair, starting from college, where he dabbled in the local equity markets with his college fund. Finishing his BA in Public Administration, Mark remained passionate about trading, and started out working in the niche brokerage business among bank traders.

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Intraday commentary on patterns

GOLD Three Inside Down Hourly Chart

Daily Live Trading Room

Mark De La Paz

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Legal disclaimer and risk disclosure

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