• Trading Account
  • Downloads
  • Nifty Options OI
    • Nifty Max Pain Chart
    • Nifty Option Change in OI Chart
    • Nifty Put Call Ratio
    • Nifty Option Total Change in OI
    • Nifty Trend Finder
  • BankNifty Option OI
  • About Us
  • Learn Technical Analysis
    • Advance Option Trading Course

OurNifty.com

A Indian Stock Market Blog

  • Forex
  • Gold
  • Intraday Stocks
  • Midcap Stocks
  • Multibagger
  • Nifty
  • Nifty Option
  • NSE
  • Amibroker

Trading Gold with Technical Analysis, How should I trade Gold today, Buy or Sell

By Bhaveek Patel 6 Comments

Gold has made new all time high today morning and this move was a clear sign that gold has become the safe heaven for the uncertain stock markets. Even the news that S&P has downgraded US Economy from its AAA rating to AA+ has been taken seriously by market participants. Today we will be trading Gold by using Fibonacci retracement level in our trading and the trade confirmation with the help of Slow Stochastic indicator with settings as (15,5,5). So taking a look at the technical charts we see that there is Fibonacci support at 1660 level and one can start buying gold near that level as this is Fibonacci retracement level 23.6%. We will confirm our trade using slow stochastic indicator and cross over must be taken as buy signal, as we always recommend to trade in the direction of the trend on the charts. So this will be a clear buying entry and on must not trade short in gold at any point of time. Though some profit booking might temporarily push the markets lower, traders must use this pullback as a buying opportunity and using stochastic for the trade confirmation. Just take a look at the technical chart given below.

Trading Gold using technical chart and fibonacci retracement with stochastic

Trading Gold for Intraday:

Trading Gold using technical analysis, our advice is to trade long on Gold above 1660 level for intraday targets as 1682 and 1698. A protective stop loss order should be placed just under 1642 level.

Share2
Tweet
Pin
2 Shares

You Should Read This:

  1. Gold (Spot) Trading Analysis for 7 January 2011, Sell Below 1378 Gold spot intraday trading for 7 January 2011, Gold intraday trading tips, Short (Sell) positions in Gold below 1378 with targets as 1365 and 1356. Stop loss should be placed around 1384 level. Also trade...
  2. Gold (Spot) Trading Analysis for 5 January 2011, Sell Below 1390 Gold spot intraday trading for 5 January 2011, Gold intraday trading tips, Short (Sell) positions in Gold above 1390 with targets as 1382 and 1376. Stop loss should be placed around 1398 level. Why to...
  3. Gold (Spot) Trading Level Analysis for 1 July 2011, Sell below 1507 Gold intraday trading level analysis for 1 July 2011, we recommend to trade short in Gold below 1507 level for targets as 1500 and 1496. A protective stop loss order should be placed above the...
  4. Gold (Spot) Trading Analysis for 21 January 2011, Sell Below 1354 Gold spot intraday trading for 21 January 2011, Gold intraday trading tips, Add Short (Sell) positions in Gold below 1354 with targets as 1342 and 1337. Stop loss should be placed near 1358 level. Why...
  5. Gold Technical Analysis for 18 July 2011, Gold is trading at all time high levels so buy above 1589 Looking at the daily charts we found that gold has resumed its long term bullish rally and this may continue as long as there is clear view from the Italian economy. As gold is always...

Category: Gold Tags: Fibonacci/ Gold Analysis/ Stochastic/ Trading Gold

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

Comments

  1. Alex Andreson says

    Hi Bhaveek, I do follow your advices in gold and forex, I have already made good profit in last 6 months, I am a student from Melbourne, Australia. I have a advice to share, please also tell me how much quantity should I trade as many times I got margin call in my forex account.
    Regards,
    Alex.

    Reply
    • Bhaveek Patel says

      Hi Alex, I never knew that i have readers from Australia as well. Quantity for trading is also very important in trading as it can change margin requirement. You need to use leverage of 1:5 only for proper position size.

      Reply
  2. hitesh agarawal says

    Your tips are very successful in gold, forex and nifty, I would like to know how you know this tips. I also want to learn giving advises.

    Reply
    • Bhaveek Patel says

      Hitesh, we generate these calls based on technical analysis. To learn technical analysis just visit this page here.

      Reply
  3. neeraj kumar says

    I have used fibonacci retracement and slow stochastic many times, trading idea you have shared is also very much accurate. I need to learn more on money management, i can spot trade setup but money management is where i need to gain. Do you provide analysis on dow jones and s&p 500 which is now traded on nse. can you share margin required for positional trading.

    Reply
  4. Vancouver says

    Over the blog you will get to know about the trading gold technical analysis and how should to trade gold today. This article gives suggestions on limitations and delimitation of the topic. I enjoyed reading while going through this article and this is the best link for gaining all the information about it.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post: Nifty Futures follows its last week trend, Trading down by about 130 points, We advice trade short in Nifty Future
Next Post: Short term Stock Trading: Buy TTKPRESTIG Near 2706 for Target 3111, Pure Technical Analysis

Advance Options Trading Course

options trading course

Lowest Brokerage Trading A/c

Lowest brokerage trading account opening in India

Learn Technical Analysis

technical analysis course

Recent Articles

  • ASX Penny Stocks List for 2023
  • 7 Ways to Boost Your Revenue
  • NYSE Penny Stocks List for 2023
  • Short On Cash? Here’s How You Can Manage Your Priority Spends
  • FREE Webinar on Option Chain Analysis
  • LSE Penny stocks list for trading in 2023 Should you buy?
  • BSE Penny Stocks List 2023

Popular Categories

Amibroker Finance Forex Gold Intraday Stocks IPO Midcap Stocks Multibagger NEWS Nifty Nifty Option NSE Short Term Stocks Technical Analysis

About Us | Contact Us | Privacy Policy | Disclaimer


Copyright © 2009 - 2023 OurNifty.com Trading ideas published here cannot be reproduced without permission from the author.
OurNifty is Powered by Wordpress and hosted on Digital Ocean