September 30, 2013
- in Uncategorized by schooloftrade
Gold Day trading strategy; SchoolOfTrade.com
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| Gold Anchor Chart |
Gold is trending LOWER this morning on our anchor chart. We can tell the trend is bearish because we
see lower-lows and lower-highs, along with a red ‘cloud’.
see lower-lows and lower-highs, along with a red ‘cloud’.
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| Gold VIP Chart |
We analyze the 15-minute VIP chart and we can see more
confirmation that we need to sell short this morning after the opening print
was below the lows from Friday and we have NOT moved back above the PLOD.
confirmation that we need to sell short this morning after the opening print
was below the lows from Friday and we have NOT moved back above the PLOD.
If we sell short this morning on Gold our profit-target is
the PLOD at 1319.2. If the price-action reverses
we will buy above the PLOD at 1336.6 and use the PHOD at 1344.5 as the profit-target.
the PLOD at 1319.2. If the price-action reverses
we will buy above the PLOD at 1336.6 and use the PHOD at 1344.5 as the profit-target.
