Wednesday, September 13, 2017

Gold price shows some signs of not very convincing strength to the upside. Immediate support is @1327, resistance levels are 1335, 1343, 1348. I will remain long as long as the price navigates above 1327 for the day. Above 1350 it could gain some traction to the next resistance levels @1358, 1366 and 1374 where I would expect a major reversal unless 1374 is effectively broken to the upside. Be safe, cut your losses and extend you profit. I would not expect the initial rally to extend beyond 1348 where the last gap would be filled. 
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39 comments:

  1. omar kSeptember 13, 2017 at 5:17 AM

    This comment has been removed by the author.

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  2. UnknownSeptember 13, 2017 at 6:20 AM

    Hi Cesar, Would you please be kind to add your comment for this chart http://www.myfxbook.com/forex-charts/XAUUSD,H1/63724

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  3. CesatoSeptember 13, 2017 at 8:18 AM

    I see there a target between 1325/1327 which is very much in line with the initial support that I outlined before. Trading volumes are poor but that is certainly the range that could keep the recovery going for the actual chart.

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  4. CesatoSeptember 13, 2017 at 9:11 AM

    Just be aware that the rally did not appear to be other than a short covering so that the support is not as strong as it appears.

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    Replies
    1. UnknownSeptember 13, 2017 at 9:30 AM

      or maybe you mean the trend shall go bullish and rally from a rather lower point ?

      Delete
  5. UnknownSeptember 13, 2017 at 9:26 AM

    I did not get you, do you mind to explain please ?

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  6. CesatoSeptember 13, 2017 at 9:35 AM

    I meant the price can go lower to 1305/1311.

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  7. UnknownSeptember 13, 2017 at 9:35 AM

    Sir Cesar please can I know what's your analysis currently ? Gold down ?

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  8. CesatoSeptember 13, 2017 at 9:40 AM

    Gold broke below 1327 and it´s clearly going down, it may go as low as 1305/1311 (even 1300) initially. Lower than that and the bull trend from 1204 would be ended.

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  9. jorge lugoSeptember 13, 2017 at 9:49 AM

    I won't be trading until this up and down end. but I will be here reading.

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  10. CesatoSeptember 13, 2017 at 9:51 AM

    Good call, I´m keeping my hands off of it as well after having hedged @1324.

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  11. UnknownSeptember 13, 2017 at 10:14 AM

    I have a long at 1330. Any advice?

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    Replies
    1. CesatoSeptember 13, 2017 at 10:26 AM

      How about hedge, is it available in your account?

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    2. UnknownSeptember 13, 2017 at 10:41 AM

      yes it is, should i open a short?

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    3. CesatoSeptember 13, 2017 at 10:43 AM

      I believe so, there is more room to go down.

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    4. omar kSeptember 13, 2017 at 10:56 AM

      do you believe it will go below 1320 , im trying to release my hedge at the right point .

      Delete
  12. UnknownSeptember 13, 2017 at 10:21 AM

    Sir Cesar I have a buy at 1317 should I close it?

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  13. CesatoSeptember 13, 2017 at 10:25 AM

    You should probably take profit on it, I believe.

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  14. MeiSeptember 13, 2017 at 10:46 AM

    Hi Cesar. The platform I'm using doesn't allow me to do hedge. Buy/sell will be offset at daily closing. Is there any platform you recommend?

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  15. CesatoSeptember 13, 2017 at 10:49 AM

    Send you email address and I´ll contact you privately.

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    Replies
    1. UnknownSeptember 13, 2017 at 10:52 AM

      Same here Cesar, Oanda doesn't allow for hedging. My email address is juliocmacosay@gmail.com

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    2. UnknownSeptember 13, 2017 at 10:54 AM

      I would really appreciate your thoughts regarding what broker would you recommend.

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    3. omar kSeptember 13, 2017 at 10:59 AM

      Cesar , do you think it will go below 1320 ? im trying to release my hedge at the correct reversal point. what's ur opinion ?

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    4. CesatoSeptember 13, 2017 at 11:12 AM

      @Julio. I sent you an email from my gmail account.

      Delete
    5. MeiSeptember 13, 2017 at 11:20 AM

      Hi. My email is junek311@yahoo.com. Thank you so much! :)

      Delete
    6. jorge lugoSeptember 13, 2017 at 11:54 AM

      Send it to me too, please. jorge_jell@hotmail.com

      Delete
    7. UnknownSeptember 13, 2017 at 12:17 PM

      Thanks Cesar

      Delete
  16. CesatoSeptember 13, 2017 at 11:00 AM

    Haha, no liability here but there a support on 1310 on the weekly chart.

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    Replies
    1. omar kSeptember 13, 2017 at 11:03 AM

      i hear ya !! its crazy :-)

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    2. CesatoSeptember 13, 2017 at 11:11 AM

      Dislexya here ! I meant "there is a support"

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    3. CesatoSeptember 13, 2017 at 11:18 AM

      There are actually 2 supports on the weekly chart from last year, those are 1320 and 1310 but 1310 is stronger that 1320.
      Tomorrow we have US CPI and US Retail Sales on Friday.

      Delete
    4. MeiSeptember 13, 2017 at 11:27 AM

      My reply appeared in the middle of everyone's comments some how....
      Here is my email junek311@yahoo.com. Thank you so much for your advice always :)

      Delete
    5. CesatoSeptember 13, 2017 at 11:32 AM

      @Mei. I had seen it, I have already sent you an email.

      Delete
    6. MeiSeptember 13, 2017 at 11:41 AM

      Thank you! Appreciate you help :)

      Delete
  17. CesatoSeptember 13, 2017 at 11:01 AM

    This comment has been removed by the author.

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  18. UnknownSeptember 13, 2017 at 11:13 PM

    This comment has been removed by the author.

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  19. UnknownSeptember 13, 2017 at 11:14 PM

    Hi Mr Cesar
    I need your help
    I have
    3 lot sell 1274
    1 lot sell 1286
    1 lot sell 1298
    3 lot buy 1330
    1 lot buy 1348
    1 lot buy 1356

    Any advice that should I do? Which lot that I should cut loss? Thanks

    ReplyDelete

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