June 10, 2013

Gold Day trading plan

Gold 60-Minute Chart
Gold 5-Minute

I can see
gold Futures trading at the lows of the price-wedge this morning so we look for
the high-percentage-trades to be LONG. 
We can see price-action has buried into the buy-zone in green, and we
only have a small sell-zone around 1386 and that is all we have to break to
enter into the wide open space above us to move higher.  Our plan will be to buy pullbacks on the way
up to the 1386 area, where we will take a profit-target, sit-on-hands and wait
to see if the price-action keeps moving higher. 
If we can get a 5-Minute candle close above 1387.7 we will then know its
time to resume buying pullbacks on the way higher.

    schooloftrade

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