March 4, 2013
- in Uncategorized by schooloftrade
Gold Anchor Chart Prep
 |
Gold Anchor Chart Prep |
We can see price-action
on Gold Futures trading sideways at the lows of this major bearish price-channel. We can see a double-bottom has provided resistance
and the symmetry support is just below us at 1560.0. With this information we have three scenarios
to consider.
on Gold Futures trading sideways at the lows of this major bearish price-channel. We can see a double-bottom has provided resistance
and the symmetry support is just below us at 1560.0. With this information we have three scenarios
to consider.
First price
can move sideways this morning and if that occurs we will sit-on-hands on wait
for the test of major support or resistance.
can move sideways this morning and if that occurs we will sit-on-hands on wait
for the test of major support or resistance.
Price-action
can also move higher into the highs of the bear price-channel, which will give
us buying opportunities in the short term on the way up, and then the high-percentage-trades
are to sell the price-channel highs as resistance.
can also move higher into the highs of the bear price-channel, which will give
us buying opportunities in the short term on the way up, and then the high-percentage-trades
are to sell the price-channel highs as resistance.
Gold Entry Chart Prep |
Price can
move lower, and with new lower-lows below the double-bottom and the symmetry support
we can sell short using the price-channel lows as a profit-target as long as we
can see strong selling pressure on the way down.
move lower, and with new lower-lows below the double-bottom and the symmetry support
we can sell short using the price-channel lows as a profit-target as long as we
can see strong selling pressure on the way down.
