September 4, 2013
- in Uncategorized by schooloftrade
Gold Day trading strategy
8:30am EST
We have Red-Star news at 830am EST this morning we expect to
see the best price-action around this time today.
see the best price-action around this time today.
*(US) JULY TRADE BALANCE: -$39.1B V -$38.6BE- Prior revised wider from
-$34.2B to -$34.5B Components: – Imports M/M: $228.6B v $225.4B prior – Exports
M/M: $189.4B v $191.2B prior – China: -$30.08B v -$26.65B prior (largest
deficit on record) – Japan: -$6.81B v -$5.52B prior – Canada: -$2.76B v -$1.61B
prior – OPEC: -$7.44B v -$5.76B prior – Mexico: -$4.12B v -$4.79B prior –
European Union: -$13.94B v -$7.09B prior
http://www.census.gov/foreign-trade/Press-Release/current_press_release/#ft900– SourceTradeTheNews.com
-$34.2B to -$34.5B Components: – Imports M/M: $228.6B v $225.4B prior – Exports
M/M: $189.4B v $191.2B prior – China: -$30.08B v -$26.65B prior (largest
deficit on record) – Japan: -$6.81B v -$5.52B prior – Canada: -$2.76B v -$1.61B
prior – OPEC: -$7.44B v -$5.76B prior – Mexico: -$4.12B v -$4.79B prior –
European Union: -$13.94B v -$7.09B prior
http://www.census.gov/foreign-trade/Press-Release/current_press_release/#ft900– SourceTradeTheNews.com
Gold Futures Analysis
 |
| Gold Anchor Chart 1 |
We can see a major bull price-channel on the 5400-tick chart,
telling us the long-term trend is BULLISH this morning. We can see major symmetry resistance above us
at 1439.0 and major support levels below us at 1372.0 and 1352.9. The ideal location for a buying opportunity
this morning is at the lows of the price-channel or at any major support level
below.
telling us the long-term trend is BULLISH this morning. We can see major symmetry resistance above us
at 1439.0 and major support levels below us at 1372.0 and 1352.9. The ideal location for a buying opportunity
this morning is at the lows of the price-channel or at any major support level
below.
2013 Members Summit & Trading Seminar
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| Gold Anchor Chart 2 |
We open the 1800-tick chart and we get the information we
REALLY need this morning before we take our first few trades of the day. First, we see the bullish price-channel has
been broken and now has developed into price-wedge structure. This price-wedge tells us there is NO
confidence in the higher or lower direction, so we will buy the lows and sell
the highs of the price-wedge. We also
remember to use the Trigger-zone #2 when we find a price-wedge.
REALLY need this morning before we take our first few trades of the day. First, we see the bullish price-channel has
been broken and now has developed into price-wedge structure. This price-wedge tells us there is NO
confidence in the higher or lower direction, so we will buy the lows and sell
the highs of the price-wedge. We also
remember to use the Trigger-zone #2 when we find a price-wedge.
 |
| Gold Entry Chart |
We can see resistance above us at 1403.8, 1410.9 and 1421.1
and support below us as at 1395.0, 1389.9, and 1382.8. We would LOVE to buy the lows of this price-wedge
at the 1382.8 price level.
and support below us as at 1395.0, 1389.9, and 1382.8. We would LOVE to buy the lows of this price-wedge
at the 1382.8 price level.
 |
| Gold VIP Chart |
We are trading right in the middle of the trading-range from
Tuesday, and directly on top of the big-round-number at 1400.0. With the news from Syria and the pending G20
summit this week we know that Gold has the potential to move any direction it wants,
so we will be open to buying the PLOD at 1384.3 and selling the PHOD at
1416.5. Avoid trading on top of the big-round-number
and the middle of the trading-range from yesterday.
Tuesday, and directly on top of the big-round-number at 1400.0. With the news from Syria and the pending G20
summit this week we know that Gold has the potential to move any direction it wants,
so we will be open to buying the PLOD at 1384.3 and selling the PHOD at
1416.5. Avoid trading on top of the big-round-number
and the middle of the trading-range from yesterday.
