July 10, 2013
- in Uncategorized by schooloftrade
Gold Day Trading Uses Price Reversal, Market Profile, and the Previous H…
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This morning
was another profitable day in our Live Trade Room with our Advanced
Members! Today we traded Crude Oil,
Gold, Euro and Mini Russell with our members, and in this video I am going to
review one of our easiest and most profitable day trading strategies that used Market
Profile theory to look for a price-reversal
at the highs or lows of a trading-range.
was another profitable day in our Live Trade Room with our Advanced
Members! Today we traded Crude Oil,
Gold, Euro and Mini Russell with our members, and in this video I am going to
review one of our easiest and most profitable day trading strategies that used Market
Profile theory to look for a price-reversal
at the highs or lows of a trading-range.
 |
| Gold 5-minute VIP Chart |
When we began trading this morning we
noticed a BIG CLUE on the Gold chart, we were trading INSIDE
the trading-range from Tuesday. This
clue tells us that we are ‘in balance’ with both the buyers and sellers in ‘agreement’
that prices are acceptable in this range.
We also know that if price-action was to breakout and go HIGHER we would
assume that the buyers and sellers saw VALUE in higher prices as well.
noticed a BIG CLUE on the Gold chart, we were trading INSIDE
the trading-range from Tuesday. This
clue tells us that we are ‘in balance’ with both the buyers and sellers in ‘agreement’
that prices are acceptable in this range.
We also know that if price-action was to breakout and go HIGHER we would
assume that the buyers and sellers saw VALUE in higher prices as well.
 |
| Gold Entry Chart |
The second clue we saw this morning
on Gold was the price-reversal
above the PHOD. When the buyers failed to keep prices above
the highs from Tuesday we knew immediately that we had a potential selling
opportunity below the PHOD. We marked
our enter point, placed our limit order to get short, and got short just after
10am EST today.
on Gold was the price-reversal
above the PHOD. When the buyers failed to keep prices above
the highs from Tuesday we knew immediately that we had a potential selling
opportunity below the PHOD. We marked
our enter point, placed our limit order to get short, and got short just after
10am EST today.
We used two trend-lines
for our profit-targets on the way down, and netted some incredible profit on
this trade.
for our profit-targets on the way down, and netted some incredible profit on
this trade.
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