{"id":114897,"date":"2017-10-17T07:26:29","date_gmt":"2017-10-17T11:26:29","guid":{"rendered":"http:\/\/countingpips.com\/?p=114897"},"modified":"2018-06-01T15:55:33","modified_gmt":"2018-06-01T15:55:33","slug":"gold-double-bottom-support-is-broken","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/gold-double-bottom-support-is-broken\/","title":{"rendered":"Gold Double Bottom Support is Broken"},"content":{"rendered":"
October 17, 2017<\/div>
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By Admiral Markets<\/b><\/p>\n

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The gold enjoyed a steady uptrend during Monday but a small doji (stop candle) that appeared at W L3 resistance suggested a possible momentum change. Straight after the doji has been formed the price continued to fall and it finally broke the double bottom and D L3 pivot. Traders should pay attention to possible short term rejections around D L3 -1290.52 while a stronger retracement to the upside might target the POC zone 1294.80-1296.20 ( W L3, historical sellers, Daily camarilla pivot, EMA89, ATR pivot). Rejection from the POC zone targets 1292.20, 1290.52. If the price proceeds further down watch for 1287.87, 1286.25 and the final ATR projection low -1284.92.<\/p>\n

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)<\/p>\n

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)<\/p>\n

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)<\/p>\n

D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)<\/p>

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D L3 \u2013 Daily Camarilla Pivot (Daily Support)<\/p>\n

D L4 \u2013 Daily H4 Camarilla (Very Strong Daily Support)<\/p>\n

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)<\/p>\n

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Article by Admiral Markets<\/b><\/p>\n

Source: Gold Double Bottom Support is Broken<\/a><\/p>\n

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Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.<\/p>\n

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By Admiral Markets The gold enjoyed a steady uptrend during Monday but a small doji (stop candle) that appeared at W L3 resistance suggested a possible momentum change. Straight after the doji has been formed the price continued to fall and it finally broke the double bottom and D L3 pivot. Traders should pay attention […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-114897","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=114897"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114897\/revisions"}],"predecessor-version":[{"id":114910,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114897\/revisions\/114910"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=114897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=114897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=114897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}