June 11, 2013
- in Uncategorized by schooloftrade
Gold Futures day trading plan
 |
| Gold 60-Minute |
We can see a
VERY odd-looking chart on the 60-minute which confirms just how odd the price-action
has been on gold over the last 90 days.
Gold is a shelter market and with so many central banks moving things
around in their monetary policy we know that gold is always on the move. We also know that Gold is on EVERYONE’s minds
these days, which reminds us of a certain ‘real estate bubble’ that recently
had everyone speaking about real estate…now all we hear is GOLD. This type of market personality comes when
EVERYONE is watching with EMOTIONS on the rise.
 |
| Gold 5-Minute |
We can see
the slightly-bearish sideways-trading-range over the last 90 days on Gold. We can see the double-top at 1420.0 has
produced levels of support at 1366.3 and 1349.1 which will be used for a price-reversal
and a buying opportunity this morning on gold.
If prices move higher we know to buy pullbacks on the way up to the
trend line and a sell-zone overhead at 1383.4.
We also know that if prices keep rising we will buy pullbacks above the
1388.5 which has a wide open space up to 1395.6 where we will take a profit-target. If prices move lower this morning we will
want to stay patient and look for a buying opportunity because we are moving
into some major buy zones on this hourly chart.
the slightly-bearish sideways-trading-range over the last 90 days on Gold. We can see the double-top at 1420.0 has
produced levels of support at 1366.3 and 1349.1 which will be used for a price-reversal
and a buying opportunity this morning on gold.
If prices move higher we know to buy pullbacks on the way up to the
trend line and a sell-zone overhead at 1383.4.
We also know that if prices keep rising we will buy pullbacks above the
1388.5 which has a wide open space up to 1395.6 where we will take a profit-target. If prices move lower this morning we will
want to stay patient and look for a buying opportunity because we are moving
into some major buy zones on this hourly chart.
