Categories: Technical Analysis

Best of the week April 20th – 24th 2015

This week Gold brought many pips with its bearish move as discussed earlier this week. Regardless whether you joined with the momentum or on the correction you should be collecting profits as i’m writing because the pair just reached the important 1180 support zone bringing a nice junk of profits with over 170 pips . Remember that we are following the commodity closely as this might turn into a long term trade depending on the price action. This current level is important to be broken. Then we can expect to see the price falling further down near the 1160 zone.

Here is a quick re-cap of this trade in pictures:

So once again, trail your Stop Loss to break even and let this one run. Have a great weekend!

Yours,
Vladimir

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.