December 11, 2012
- in Uncategorized by schooloftrade
Gold Day trading plan
Gold Day trading plan |
We can see
that gold is trading at the highs of a price-wedge or a triangle price-structure. We know the highs are major resistance so we
are looking to sell at this time.
that gold is trading at the highs of a price-wedge or a triangle price-structure. We know the highs are major resistance so we
are looking to sell at this time.
As price
rises higher I’m selling the trend line resistance directly above me after
seeing the price-reversal pattern on our 21-range or 13-range charts. As price moves higher I’m selling the 1718.8 PHOD
as resistance and will keep looking for selling opportunities as price moves to
the resistance at 1720.5, 1724.9, and 1729.5.
I will not have the confidence or the opportunity to buy as price rises
(unless higher-risk) because the price-wedge says to look for the fake-out-breakout
and there is not enough room to buy above the PHOD.
rises higher I’m selling the trend line resistance directly above me after
seeing the price-reversal pattern on our 21-range or 13-range charts. As price moves higher I’m selling the 1718.8 PHOD
as resistance and will keep looking for selling opportunities as price moves to
the resistance at 1720.5, 1724.9, and 1729.5.
I will not have the confidence or the opportunity to buy as price rises
(unless higher-risk) because the price-wedge says to look for the fake-out-breakout
and there is not enough room to buy above the PHOD.