I draw lines on a maximum and a minimum

Now I am not a big fan of fundamentals. Nor am I a fan of so-called experts on one side of the fence calling Crude oil to $200, whilst the other side are calling it to $50.
Being no expert myself I am more a 'trade what I see' type.
I am new to this thread and this is my first post.
I trade off a 60m or a 5m chart and average a couple of hundred pips each day so am not accustomed to weekly charts, but I do like them for support and resistance, which is why I come here, to try and share an opinion.

Many anal-ists are calling gold back up to $1000 and beyond. Some are as bold as to call it to $1800 as people seek a safehaven for their money.
I'm just wondering whether they are right.
If you had a bank and were going broke, but all your deposits were backed by an equal amount of Gold what would you do?

Personally, I'd take the loot and run for the hills but I suspect that a lot of central banks that have not already done do will be outing some of their wares in the forthcoming months.

That is neither here nor there when it comes to S&R, but it makes you wonder.

This weekly chart clearly demonstrates that Gold has been supported heavily since 2005.
However, since about May of this year it has been making lower highs too and a nice resistance line is coming down from the $1030 levels of the beginning of the year.
Now from this we can gain an insight to what is likely to happen over the forthcoming weeks.
We will either :-
Breakout of the top
Breakout of the bottom, or
Range with support and resistance.

I realise it's probably not my place to base my own opinion on the other indicators I use on this thread, but my guess is that a fall is more likely than a push higher.
Why? Well m.a's are also support and resitance too so I suppose there is no harm in me talking a little bit.
The price has fallen below the 20ema (pink)
The 20ema has now fallen below the 50sma (light blue)
This is a brearish signal and both are now acting as a double protection resistance to the upside.
Price has bounced off the supprt line and the monthly 20ema (bold red)
but has struggled so far to put a dent in the armour of the 20 under 50 mentioned above.

If next's Heiken ashi is a red one, be prepared.

This could smash the supports and go $600 !

Have a good weekend.

Attached Images

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Better yet...can a kind coder add a lotsize input?

http://www.forex-tsd.com/attachments...esisttrade.mq4

ES

I added LotSize ...........

Attached Files

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