October 31, 2012
- in Uncategorized by schooloftrade
Gold Futures Chart Prep:
Gold is trading
off the highs of the price-wedge and the bullish price-channel. We are trading above the PHOD making this an
outside trading day, and buying pullbacks are the high-percentage-trades above
this 1715.7. if we fail at these highs
and get below the PHOD we will sell short below 1715.7.
If price moves
higher we will sit-on-hands and wait to sell the highs of the price-wedge and
the HOD on Gold.
higher we will sit-on-hands and wait to sell the highs of the price-wedge and
the HOD on Gold.
If price
moves lower off these highs we look for the 2step pattern to sell short below
the 1716.5 area swing-low on the 21range with a profit-target at the PHOD and
then trigger-zone support below us.
moves lower off these highs we look for the 2step pattern to sell short below
the 1716.5 area swing-low on the 21range with a profit-target at the PHOD and
then trigger-zone support below us.
