February 5, 2013
- in Uncategorized by schooloftrade
Gold Anchor Chart Prep
 |
| Gold Anchor Chart Prep |
The first
thing we see on gold this morning is the recent InsideOut Set-up and price-wedge
set-up. The price-wedge set-up occurred when
we sell the highs of the price-wedge. The
InsideOut Set-up occurs when we failed to stay above the PHOD 1678.6.
thing we see on gold this morning is the recent InsideOut Set-up and price-wedge
set-up. The price-wedge set-up occurred when
we sell the highs of the price-wedge. The
InsideOut Set-up occurs when we failed to stay above the PHOD 1678.6.
Now at 815am
EST we are trading in the middle of the price-wedge and the range and we need
to sit-on-hands until we can re-test the highs around 1680.0 or text the lows
at 1666.6. if we do test the lows we
will take profit-target on the shorts off the highs, and look for the price-reversal
to get long at these lows.
EST we are trading in the middle of the price-wedge and the range and we need
to sit-on-hands until we can re-test the highs around 1680.0 or text the lows
at 1666.6. if we do test the lows we
will take profit-target on the shorts off the highs, and look for the price-reversal
to get long at these lows.
We can see
symmetry resistance overhead around 1688.0 and we will be looking for the
buyers to fail and a price-reversal to get short at this level of resistance.
symmetry resistance overhead around 1688.0 and we will be looking for the
buyers to fail and a price-reversal to get short at this level of resistance.
We can see
the very obvious price-wedge so we are using this as our guide this
morning. We can also see the most recent
double-top which is providing us with additional support starting at 1659.5
the very obvious price-wedge so we are using this as our guide this
morning. We can also see the most recent
double-top which is providing us with additional support starting at 1659.5
Our day
trading plan for Gold futures is to sit-on-hands if we missed the short at
700am EST this morning and wait for the re-test of the highs or the test of the
lows. At this moment we’re trading in
the middle and that means we do not have any high-percentage-set-ups at this
time, so we will stay patient.
trading plan for Gold futures is to sit-on-hands if we missed the short at
700am EST this morning and wait for the re-test of the highs or the test of the
lows. At this moment we’re trading in
the middle and that means we do not have any high-percentage-set-ups at this
time, so we will stay patient.
