July 29, 2013
- in Uncategorized by schooloftrade
Gold day trading strategy
We are
watching for the Gold contract rollover on the 31st of this month,
we will look for the next front-month to be the 12-13 contract.
watching for the Gold contract rollover on the 31st of this month,
we will look for the next front-month to be the 12-13 contract.
Gold 240-minute:
We can seethe major trend-line overhead has created resistance at the top of the price-wedge
and the price-action appears to suggest that we are trading in a sideways-trading-range
at these highs. We need to use a faster
time frame to find the specific short-term trading-range and trading using that
range today as our best clue.
Gold 60-minute:
We can seethe price-wedge has developed over the last few days on Gold 60-minute
chart. We can see price-action coming
off the highs so we are looking to sell short with new lower-lows using the price-wedge
lows as the profit-target at 1317.5
Gold Entry Timeframe:
Gold istrading in the middle of the London trading Session range, and the middle of
the range from the last week of trading.
We know that contract rollover is right around the corner and with price-action
in the middle of ANY range we need to consider this to be a big red flag and
this is higher-risk trading in the middle.
