February 28, 2013
- in Uncategorized by schooloftrade
Gold Anchor Chart Prep
Gold Anchor Chart Prep |
Gold Futures
have moved lower this morning just below the range from Wednesday as we get our
day started.
have moved lower this morning just below the range from Wednesday as we get our
day started.
Our anchor
chart provides us with a major double-top which gives us major support below us
at 1546.5 and 1524.5. These support levels
will make for an excellent location to buy.
chart provides us with a major double-top which gives us major support below us
at 1546.5 and 1524.5. These support levels
will make for an excellent location to buy.
Our entry
chart is giving us an easy InsideOut Set-up long this morning when we break
above the 1591.6. Our profit-target on
this long will be the trend line resistance around 1595.0 and then all the way
up to the PHOD at 1614.4 as the runner target.
chart is giving us an easy InsideOut Set-up long this morning when we break
above the 1591.6. Our profit-target on
this long will be the trend line resistance around 1595.0 and then all the way
up to the PHOD at 1614.4 as the runner target.
We can see
perfect symmetry support on our entry chart at the 1585.5 level, which further
confirms the strength of this InsideOut Set-up long. We can also get long at the entry signal that
fired off at 1589 around 745am EST.
perfect symmetry support on our entry chart at the 1585.5 level, which further
confirms the strength of this InsideOut Set-up long. We can also get long at the entry signal that
fired off at 1589 around 745am EST.
 |
Gold ENTRY Chart Prep |
The bear price-channel
on our entry chart was easy to find when we noticed the symmetry support, which
adds to the importance to take some profit on our InsideOut Set-up long at the
top of this bear price-channel around 1596.0.
on our entry chart was easy to find when we noticed the symmetry support, which
adds to the importance to take some profit on our InsideOut Set-up long at the
top of this bear price-channel around 1596.0.
Our day
trading plan for gold this morning is to buy the lows of this range using two high-percentage-set-ups. First we see the symmetry set-up giving us a
long entry @ 745am EST, and if we break above the PLOD we will get long or add
to our position with a profit-target up at the trend line and the PHOD for the
runner.
trading plan for gold this morning is to buy the lows of this range using two high-percentage-set-ups. First we see the symmetry set-up giving us a
long entry @ 745am EST, and if we break above the PLOD we will get long or add
to our position with a profit-target up at the trend line and the PHOD for the
runner.
