I’m watching Gold break its lows, and looking for a reversal entry setting up…
- Enter long @ 90.7, but I need to wait to get above the trend line which is acting as resistance.
- I’ll look for BIG BUYERS, increasing speed, and momentum confirming as soon as I get above the trend line.
- Ill take ½ of my trade off @ 92.2
- Then move stop to entry point
- I’ll take ¼ off at 93.5
- I’ll take ¼ off to flatten my trade @ 94.4, which takes us into the OPEN of the previous day.
- The OPEN of the day, today or previous day will always act like a magnet, attracting price upwards, so ill look to take all the profit at that previous day’s open
Im looking to take advantage of the break below the previous day’s high of day
- When we break below the Previous HOD, we then see the OPEN making a very attractive profit target.
- Entry will be below 95.92 for this short trade
- ½ off @ 75, which is the day’s open (act like a magnet for price)
- ¼ off @ 45, which is today’s LOD
- Final ¼ off @ 74.05, which is 5 ticks above the big round number
If we break below today’s LOD, the big round number of 74.00 will be a very easy target to see obtained.
***UP-DATE ****
(Click On The Image To Enlarge)
Gold futures took us for a EASY winner! We filled our profit targets EXACTLY as we planned!
here’s crude oil…this was another big winner!
We got short on Crude Oil below 92 for this pattern. We earned 20 ticks right away with our first target of 75, and then we got the 2nd target @ 45 for a total of 60 ticks on this winner!
We moved the stop to entry -1 to lock out the risk @ 90, and we jsut got stopped out as the price bounced above our entry and stopped us out for +60ticks.
believe it or not…this was only 2 of the 4 winning trades that we called live in our trade room today!
Another winning trade called on this blog! dont miss the next winner!
I will review all of this in our members training!
