May 31, 2013
- in Uncategorized by schooloftrade
Gold Futures day trading strategy
 |
| Gold 15-Minute |
We can see
from the 60-minute anchor chart that we have tested the buy-zone at the 1400 big-round-number
and the 1399.0 support level. This tells
us to look for a price-reversal and a buying opportunity using the clue off the
anchor chart.
 |
| Gold 5-Mnute |
The 5-minute
anchor chart on Gold shows us trading at the London price-reversal zone at
1395, which is also the buy zone on the 15-minute anchor chart. We are looking for a price-reversal at this support
followed by a pullback that we can buy on the way back up. If we do NOT get the price-reversal at this buy-zone
we will wait patiently for the next move down, and then once again look for the
price-reversal to buy. It will be a
challenge to sell short with the lows of the price-wedge and the PLOD from yesterday
as support.
anchor chart on Gold shows us trading at the London price-reversal zone at
1395, which is also the buy zone on the 15-minute anchor chart. We are looking for a price-reversal at this support
followed by a pullback that we can buy on the way back up. If we do NOT get the price-reversal at this buy-zone
we will wait patiently for the next move down, and then once again look for the
price-reversal to buy. It will be a
challenge to sell short with the lows of the price-wedge and the PLOD from yesterday
as support.
