Wednesday, May 7, 2014

Gold Futures Day Trading Strategy; Buying the drop in strong support

Gold 30-Minute
Gold attempted to push higher and had a quick blow-off of the highs. This gave us a gorgeous 2B Sell off those highs but it also set up a a gorgeous area for us to look long at these lows. We have tagged the bottom of the support at 1302.7 as well as the BMT at 1304. If we fall farther we can also look to buy the next area at 1300.6 and 1297.2 targeting back to the BMT with the overall target back at the highs of 1314.4 - 1316.5. Don't forget to sign up for the Live Trade Room Trial to see us trade this LIVE in the room!

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