March 28, 2012
- in Uncategorized by schooloftrade
Gold futures day trading strategy
Gold futures trading off the highs of the bear price channel
and continuing in the direction of the AB=CD Pattern which will push prices
lower. We can easily use the dollar
index correlation this morning with gold however we need market personality on
the dollar index first, so keep that in mind.
and continuing in the direction of the AB=CD Pattern which will push prices
lower. We can easily use the dollar
index correlation this morning with gold however we need market personality on
the dollar index first, so keep that in mind.
The gold has traded below the PLOD, and off the highs of the
price wedge and price channel so we want to sell retracements with new lower-lows
looking for the sellers to keep control and just maybe the dollar index will
push higher and help us out to the short side.
price wedge and price channel so we want to sell retracements with new lower-lows
looking for the sellers to keep control and just maybe the dollar index will
push higher and help us out to the short side.
Remember, if the sellers fail and price moves
back above the PLOD we then know the buyers will try to grab hold so we are buying
when price re-enters the previous day’s trading range, above the PLOD 1677.4
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| Gold Day Trading Strategies |
