Wednesday, October 2, 2013

Gold Day trading strategy; SchoolOfTrade.com

Gold Anchor Chart 
Gold is trading HIGHER this morning with a short-term trend that is bullish.  We can see the trend-line resistance around the 1300.0 big-round-number and price-action has tested this area and reversed back off these new highs this morning.  We have resistance zones above us starting at 1315.4 with only a minor swing-high resistance in our way at 1305.0.  This tells us we can easily see a big move above the 1305.0 up to 1315.4.  We also have support below us at 1290.5 and 1282.7 which we will use in an up-trend to buy a pullback on the way to higher-highs.

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