Market Review: Weekly Trading Signals Alerts ( Gold, Silver, Currencies,..)

Last Update: 4th june 2013

COMMODITIES: GOLD

Gold is presently locked in a symmetrical triangle formation on the four hour chart which is approaching completion. A symmetrical triangle has a neutral bias: the asset may break out in any direction.

The key to trading this successfully is to wait until the asset has clearly broken out of one side at the point of convergence. A breakout here is defined as when the asset closes above the upper trend line, or when it closes below the lower trend line. When the former occurs, the trader should trade a CALL option, using an expiry time of at least 24 hours. When the latter occurs, a PUT option should be procured using an expiry of between 12 to 24 hours.

Gold Chart - 4th june

Gold Chart – 4th june 2013

CURRENCIES: GBPUSD

The 1-hour chart for the GBPUSD shows an asset locked in an ascending channel.

The key here is to watch for a bounce of the asset off the lower trend line in the next 2 hours. If the asset does this, purchase a CALL option with a 1 hour expiry. If the asset breaks below the lower trend line, wait for the asset to try to go back above this line. It will probably be rejected at that point, and this is when the trader can enter a PUT option with a 2- hour expiry time.

 

GBP- USD Charts - 8th june 2013

GBP- USD Charts – 8th june 2013

 

COMMODITIES: SILVER (XAGUSD)

Silver is in full consolidation. Here is how to play this range-bound asset.

Wait for silver to move upwards to the upper trend line at 23.08. If it breaks this line upwards, wait for the asset to try to retreat back to the upper trend line. It will probably be rejected and if this is the case, purchase a CALL contract at 23.08 with a one hour expiry.
Wait for silver to move to the lower trend line. A break of this trend line will be accompanied by an attempt to return upwards. This will usually be rejected and if it is the case, purchase a PUT contract at 22.05 with a one hour expiry.
Another scenario is that the asset may not break either trend line, but will trade in the range. The trader would therefore purchase a PUT at 23.08 and a CALL when the price touches 22.05. This scenario presents the best opportunity to profit and should be used with a one hour expiry time.

PLEASE NOTE: The asset is presently in no man’s land. Do not be tempted to place a trade at the moment. Wait until the asset has fulfilled any of the parameters above before taking the outlined steps.

Silver Chart: 4th june 2013

Silver Chart: 4th june 2013

 

CURRENCIES: AUDJPY

Trade a CALL contract on this asset when it retraces to the 38.2 Fibonacci level of 95.96 or even at 96.00 on the dot. Expiry time used for this trade should be at least 7 days.

This trade requires patience to take as the setup may not perfect itself for a few days.

 

AUD- JPY Chart: 4th june 2013

AUD- JPY Chart: 4th june 2013

 

Please note: There will be an update in 2 days as we near the release of the Non-farm Payrolls report on Friday June 7th, 2013. This trade will impact many assets including some not listed here. So stay on this page and watch out for further updates.

 

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