USD/Gold Forex

[tjnoon 10]

Is anyone trading Dollar/Gold or Dollar/Silver forex? If so, I'm wondering what timeframe and approach you're using and how it is going for you.

[enochbenjamin 10]

I have tried it a few times on 1 minute and 3 minute - but that spread kills you on scalps - especially since the price action is so fast...

[tjnoon 10]

Thanks for your reply. I noticed the same thing. The longer term charts look interesting though. I'm going to try to come up with a swing trade approach and if I hit upon something worthwhile, I share it here.

[Ammeo 10]

since the pair closed above 1330 support area... and is well above its 200-ema on its time frame charts from 5 min to 4 hours, hence it is bullish for short-term.... and may test 1375 this coming week.... breaking of which could show 1403 where heavy selling cud be seen as it is 100-day EMA on daily chart......

[roobin54 10]

gold

 

 

As noted in the previous comment we can see a price reversal by breaking the substitution area. As long as it doesn't breach beneath the area we'll see it rising.

[roobin54 10]

gold

 

 

 

 

On the H4 TF, We were observing a reversal after having a harmonic pattern being formed. Currently the price is floating around conversion area as well as downtrend line. A Bullish push will be seen by having the trend line broken around $1220 area.

Edited December 28, 2013 by tradingwizzard

[Ammeo 10]

1220 is the max - don't forget about the FOMC - also 1217 - was a real seller pushing to 1180 - so monday and tuesday are on the ride down most probably..