June 12, 2013
- in Uncategorized by schooloftrade
Gold Day trading strategy
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| Gold 60-Minute Anchor |
Gold is
trading in a very narrow range near the lows of the price-wedge. We can see the double-top has provided
excellent support and a price-reversal level at 1366.4. The lows of the price-wedge, the double-top price-reversal
level, and the market personality from the Dollar-Index this morning (bearish)
all tell us to look for buying opportunities on Gold this morning. IN addition to being bullish we must also
recognize that the buy and sell-zones are right on top of us today so 2-sided
trading is likely to occur if the buyers cannot take full control over the price-action.
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| Gold 5-Minute VIP |
We can see
that Gold has pushed to new higher-highs this morning, and we are now looking
for the price-reversal and a short-selling opportunity at these highs. Targets below us are at 1379.2 and 1375.2.
that Gold has pushed to new higher-highs this morning, and we are now looking
for the price-reversal and a short-selling opportunity at these highs. Targets below us are at 1379.2 and 1375.2.
