Today’s Market Calls of Gold,Oil Forecast

Somnath Das Independent Analyst

URGENT PAIR XAU/USD (GOLD): UPTREND 3hr CHART

This week gold and wti both will be upside, while gold buy will start by current level ending with a higher W end on the other hand wti will continue to take M top from taking a low from current level then falling M pattern follows.

1.BUY XAU/USD (GOLD): ENTRY: 1290.07, TARGET: 1301.29/1304.29, SUPPORT: 1286.02

FXStreet Forex Interactive Chart:

ULTRA SPECIFIC CETERIS PARIBUS STRATEGY:

“Without strategy and execution, a great idea will remain just a good idea.”- Dom

By keeping in mind the daily target price constant trade frequently 3- 4 times a day. Maintain a free margin level approx 200%. With this trader can hold open positions up to 600 pips (approx) if opposite scenario happen. It is applied in a 1:10 leverage setting (Adjust Floating Leverage). Hold the open positions overnight in case of verified short term trend for maximum profit.

Always distribute total trading volume in two pairs.

USEFUL MARKET DIRECTION | TRADING LEVELS:

The price is always changing, will you lead or follow?

2. A. SELL WTI (CRUDE OIL): ENTRY: 62.47, TARGET: 61.46, RESISTANCE: 63.40

B. BUY WTI (CRUDE OIL): ENTRY: 61.47, TARGET: 63.26, SUPPORT: 60.80

FXStreet Forex Interactive Chart:

UNIQUE TRADING PROCESS:

Trading process is based on ZIGZAG Analysis and combining with ADX. First, predicting buy/sell any type (limit/stop) intraday. Second, identifying any type of hourly candlestick pattern formation, it is suggested to enter 1st position (buy/sell) at any level between the average of daily entry and sl price.

Third, try to book initial quick profit to verify predictions validity. This process can be repeated twice or thrice in sidewise market. Also distribution of positions by averaging method will be helpful. This way we can maximize intraday profit, provided that the daily market direction is verified and holds true.

Fourth, on the fundamental side we will check the price action more during the news in economic calendar on CPI (Consumer Price Index) data of EUROPE, UK, USA, JAPAN, CANADA, SWEDEN, and SWITZERLAND. Trade deficit data is important to follow for more volatility.

“Every correct Decision you make takes you one step closer to being Wealthy and Successful”- © Somnath Das , 2018-2019

Author

Somnath Das

Independent Analyst

Without strategy and execution, a great idea will remain just a good idea.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.