Friday, October 4, 2013

Gold Day Trading Strategy;

Gold Anchor Chart
We begin the session with Gold this morning at 820am EST and we see that there is a short term bullish price-channel on the anchor chart, however, the opening-print tells us that this market personality is going to be a range-bound market personality today.

Our day trading plan for Gold is to watch the market personality closely, looking for this range-bound market to change its market personality but while it’s a range-bound market we are selling highs at resistance, buying lows at support, and avoiding the middle of the trading-range.

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