November 13, 2012
- in Uncategorized by schooloftrade
Gold Futures Chart Prep:
We can see
that Gold Futures have been trading sideways for a few days now, which is a big
market personality clue.
that Gold Futures have been trading sideways for a few days now, which is a big
market personality clue.
We have a
bearish AB=CD Pattern and trigger-zone resistance overhead starting at 1735.0.
bearish AB=CD Pattern and trigger-zone resistance overhead starting at 1735.0.
We can see
the short term sideways price-wedge and we are trading at the highs of this
range.
the short term sideways price-wedge and we are trading at the highs of this
range.
Whenever wehave an AB=CD Pattern we always look for the price-channel, in this case its
very bullish, we can see the steep slope to the price-channel itself.
We can see
the trigger-line itself has flattened out on the 89range chart, which means we
have a short term sideways range. We want
to look for the swing-high and the swing-low that defines the highs and lows of
this range and remember we want to avoid the middle, sell-the-high at
resistance and buy-the-lows at support.
the trigger-line itself has flattened out on the 89range chart, which means we
have a short term sideways range. We want
to look for the swing-high and the swing-low that defines the highs and lows of
this range and remember we want to avoid the middle, sell-the-high at
resistance and buy-the-lows at support.
