March 14, 2013
- in Uncategorized by schooloftrade
Gold day trading plan
 |
Gold Anchor Chart Prep |
Gold is
trading in the middle of the short term price-wedge this morning as it looks
for more clues on the anchor chart. We know
that there is a major bearish price-channel telling us the high-percentage-trades
will be to the SHORT side this morning.
We want to sell the highs of the price-wedge or ideally sell the resistance
at 1615.5 and 1623.0 to take this price back down to re-test the 1561.5 support.
trading in the middle of the short term price-wedge this morning as it looks
for more clues on the anchor chart. We know
that there is a major bearish price-channel telling us the high-percentage-trades
will be to the SHORT side this morning.
We want to sell the highs of the price-wedge or ideally sell the resistance
at 1615.5 and 1623.0 to take this price back down to re-test the 1561.5 support.
 |
Gold Entry Chart Prep |
Gold entry
chart shows us 2 big clues this morning in terms of both bullish and bearish trading
opportunities. First, if we can get new lower-lows
we will sell short with an entry signal short down to PLOD from last Friday @
1560.6. Second, if the sellers cannot
keep price moving lower, we will use the InsideOut Set-up LONG to buy above the
1584.5 PLOD from yesterday. We will use
a profit-target at the PHOD 1598.8 which is perfect because it’s a few ticks
before the big-round-number of 1600.0
chart shows us 2 big clues this morning in terms of both bullish and bearish trading
opportunities. First, if we can get new lower-lows
we will sell short with an entry signal short down to PLOD from last Friday @
1560.6. Second, if the sellers cannot
keep price moving lower, we will use the InsideOut Set-up LONG to buy above the
1584.5 PLOD from yesterday. We will use
a profit-target at the PHOD 1598.8 which is perfect because it’s a few ticks
before the big-round-number of 1600.0
