March 6, 2012
- in Uncategorized by schooloftrade
Day trading strategy for E-Mini-Russell and gold futures
Gold futures day trading strategy uses the 233 range chart
as the BIG PICTURE and we see the bear price channel almost a sideways price
channel, and then we draw our trigger-zone tool from the swing-low to major swing-high
and we see the new trigger-zone starting with support at 1660.0 and major
support at the lows of the ‘zone’ at 1629.1.
so if dollar index keeps rising and the gold keeps moving lower know
were to look to take profit on our shorts, and where to look for the reversal
to buy at this support.
as the BIG PICTURE and we see the bear price channel almost a sideways price
channel, and then we draw our trigger-zone tool from the swing-low to major swing-high
and we see the new trigger-zone starting with support at 1660.0 and major
support at the lows of the ‘zone’ at 1629.1.
so if dollar index keeps rising and the gold keeps moving lower know
were to look to take profit on our shorts, and where to look for the reversal
to buy at this support.
 |
| Godl 233 Range Cha |
We use the 89 range chart for gold and we see the short term
target for the LONG side is just below the PLOD at 1694.0 so now we know where
to take profit if we can get into a long trade.
If price then moves it above the PLOD we will look to buy more again
above 1694.4
target for the LONG side is just below the PLOD at 1694.0 so now we know where
to take profit if we can get into a long trade.
If price then moves it above the PLOD we will look to buy more again
above 1694.4
We can see the new short term bear price channel on gold
futures, giving us ANOTHER reason to be buying here this morning.
futures, giving us ANOTHER reason to be buying here this morning.
We can see new short bear price channel on the gold 55 range
chart and it tells us to buy the lows/support but we can see overhead
resistance in our trigger-zone at 81.5, 93.0 so we need to use these as our
guide, making sure we don’t get LONG without enough room before we hit the
target.
chart and it tells us to buy the lows/support but we can see overhead
resistance in our trigger-zone at 81.5, 93.0 so we need to use these as our
guide, making sure we don’t get LONG without enough room before we hit the
target.
