Friday, May 16, 2014

Gold Futures Day Trading Strategy; Selling the BMT test

Gold 16JJ Bar
I am watching Gold completely shift to the downside now with quite a bit of selling pressure.

I am waiting for price to get up to 1295.4, 1295.9, and 1297.4 to sell it back down to fresh lows with this new trend

If we get back above the BMT's, I will be looking for short term WAVE Patterns long up to a potential double top to sell it again.

I will be targeting the initial low first at 1287.7 but will also be looking for an extended target to new lows to trail a target on the way down.

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