March 8, 2013
- in Uncategorized by schooloftrade
Gold Chart Prep
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Gold Chart Prep |
We can see
the anchor chart trading to new lower-lows this morning, breaking the double-bottom
and giving us a big clue for the next few hours today. We expect one of two things to happen. First, new lower-lows the sellers will be
shooting for the price-channel lows around 1540.0 Second, the new lower-lows may fail and the symmetry
support will hold and price will bounce back up moving higher.
Gold Chart Prep 2 |
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Gold Chart Prep 3 |
The entry
chart shows us the almost-flat price-channel which has a hint of bearish tone
to it this morning, which tells us to sell the highs for the high-percentage-trades
today. We can see the InsideOut Set-up long
above the double-bottom resistance and PLOD 1574.2 and the double-bottom resistance
gives us a chance to sell short, however, this will be higher risk selling into
the lows of this price-channel.
chart shows us the almost-flat price-channel which has a hint of bearish tone
to it this morning, which tells us to sell the highs for the high-percentage-trades
today. We can see the InsideOut Set-up long
above the double-bottom resistance and PLOD 1574.2 and the double-bottom resistance
gives us a chance to sell short, however, this will be higher risk selling into
the lows of this price-channel.
