Tuesday, June 30, 2015

Selling the Channel Break On The Gold Futures; SchoolOfTrade.com

Selling the channel break back to spiking candle lows allowed us to pick up a VERY quick and easy 72 ticks lower on Gold this morning!

In today's video we see the Gold Futures dropping quite aggressively lower on a spiking candle bear channel down.

This gave us an opportunity to sell the breakdown of rising support on a 2LF and push prices down into our targets for $720 on the trade in just a few minutes!

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Spiking candles like we saw on Gold this morning can give a HUGE clue in terms of what the market wants to do and where it wants to go. Those candle lows and highs can act as not only a magnet, but also as support and resistance so taking profit around those areas is a great trade!

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